'Price of Tomorrow' author says Bitcoin is a lifeboat amid financial turmoil

Thursday 17 September 2020, 4:06 PM AEST - 6 days ago

Renowned entrepreneur and author, Jeff Booth, has endorsed Bitcoin as a must have investment in times when central banks are exacerbating the escalating debt problem.

The comments came in a tweet thread discussing the notion that central banks believe they can somehow escape a massive debt problem by exponentially adding more debt.

6) In my humble opinion - Bitcoin is a "must" Not just for your wealth but as a lifeboat. Please do your own research. Follow @PrestonPysh @johnkvallis @RaoulGMI @APompliano @Breedlove22 @princey1976 @PeterMcCormack @MartyBent @LynAldenContact

— Jeff Booth (@JeffBooth) September 16, 2020

Author of "The Price of Tomorrow", a book about deflation, Jeff Booth pointed out that even before the COVID-19 pandemic threw fuel on the fire, global debt was $250 trillion in a global economy worth around $88 trillion — and $185 trillion of that total debt had been added in the last 20 years. According to usdebtclock.org the U.S. tops the list for national debt with over 10% of the global total, and an ever ballooning figure of $26.7 trillion

The unwind in whatever form it takes is going to be brutal, he predicted. Booth believes the only two choices left are grim with the first being governmental default on global debt through a deflationary depression, which would include a banking system collapse, or default through hyperinflation, which appears to be starting already with mass money printing.

Continuing this narrative, Booth added;

In my humble opinion - Bitcoin is a "must" Not just for your wealth but as a lifeboat.

The comments come in an inflationary environment. In ...

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