Former Congressman Ron Paul pointed out that the United States' mountain of debt currently totaling more than 31 trillion dollars is incentivizing other countries to dump the U.S. Dollar and devalue it. He further noted that this situation is much worse than the 1930s depression, with the currently ramped up expenses and overwhelming debt. Paul believes accelerating debt default and dollar devaluation are two of the major concerns that U.S. is facing right now.

One driving factor behind other countries deserting the US Dollar is the advent of cryptocurrency. While there has been quite a bit of chatter around the reliability of digital money, many nations, including Russia and China, are already taking an interest in this fintech. The rising popularity of cryptocurrencies such as Bitcoin, Ethereum, and Ripple are gradually causing a shift in the global financial markets. Though its impact in the world's economy is yet to be seen, the potential for disruption of traditional banking is quite high.

Inflation and gold prices are two other things concerning Paul and people in the United States right now. He suspects heightened inflation is caused due to an artificial raise in gold prices through manipulation by the government. Paul believes this is in order to make the US Dollar look less weak, while real gold rates continue to remain low.

It is fair to say that the US debt market is going through a volatile period. Though the US Dollar has had quite the stable track record globally, the future is uncertain due to the higher debt incurred by the government. With the stimulation of other countries towards cryptocurrencies, the prices of traditional currencies have been inclining of late. Though it may take some time to see the true impact of digital money, the signs of a possible shift can already be seen.



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