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welcome blockchain buyers welcome to the channel we've known since 2013 taper tantrum that markets are addicted to fed money but now we face a bigger cold turkey risk that a stock and bond market shock triggers economy-wide bankruptcies will growth ever be fast enough that debtors can afford sharply higher interest rates doubts about that are why many invest in bitcoin the skeptics argue that government will have no choice but to absorb that debt and because tax revenues won't be high enough for it to meet repayments the fed will be compelled to monetize it and what will be a real world test of modern monetary theory many see this as a route to dollar devaluation and much higher inflation one read on this the us government kept the economy from collapsing with stimulus checks sector bailouts employee retention loans rent mitigation and so forth in doing so is shifted private debt to the public books a second takeaway lower foreign investor debt holdings set up an easier path to monetization if the government is less dependent on foreigners to fund itself there's less concern about a sharp drop in the dollar exchange rate because most creditors are dollar-based anyway a third federal debt at 130 percent of gdp is far above the international monetary fund's recommended 80 threshold that imf that's the international money monetary fund um if that number were lower it would be easier for the us to grow its way out of this problem but at these levels we could be forever behind the eight ball bad news for the economy good news for bitcoin the conversation shift show peter schiff a gold bug who's also one of the most prominent bitcoin critics has a family problem his son spencer is all in on bitcoin spencer's laser eyes twitter profile says he's a former goldbug but now a bitcoin maximalist with the younger shiv constantly taking his father's anti-bitcoin tweets to task shift senior used the recent crypto sell-off to deliver a stern life lesson in public here's what he said against my advice my 18 year old son at spencer schiff borrowed money to buy more bitcoin he is now 113 long he likely can't even qualify for a credit card but he can borrow money at eight percent to buy bitcoin i'm sure this is typical among toddlers the next crash will be brutal wow did the man-to-man talk work hardly here's spencer schiff's reply good thing i didn't listen to your advice last summer oh so he's responding to that that tweet he said against my advice my son just bought even more bitcoin whose advice do you want to follow a 57 year old experienced investor slash business owner who's been an investment professional for over 30 years or an 18 year old college freshman who's never had a job just wait a while that advice will prove to be correct in the end all right peter schiff talking to his son who will who will be the victor we will see of course spencer knew bitcoin twitter would have his back here's the aforementioned michael saylor responding to the eldership with an own retweet putting bitcoin volatility into a longer perspective so michael saylor said do you expect the price of bitcoin to appreciate more than 6.215 percent annually over the next seven years and then shift seniors response long term gains don't matter if short-term volatility destroys your leveraged position peter schiff responds to michael saylor and says i don't but even if it does bitcoin can easily crash below ten thousand dollars first especially if there's a lot of margin related forced selling on the next leg down if that happens leveraged loans might be forced to sell their bitcoin before those long-term gains can be realized what many noted though is that spencer's investing strategy was quite conservative at least compared to what is on offer in crypto land time will tell who wins this family spat in the meantime lolly ceo alex adelman has some other advice for the pair and here's what he says i hate to see a father and son fighting if you need family counseling i encourage you to use lolly.com to earn free bitcoin back on therapy with at talk space so uh that's all i wanted to bring to you today please like please subscribe and i'll see you on the next one see ya position reaching like an actual position you
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