Theres a consequence of a welfare state, there is no opt out because they dont want you as a liability later. [Also it should be said those paying now are required as cash to feed old responsibilities, its not far from a ponzi which works if working population rises] Same could be said of income tax itself, it used to be you were on your own in the extremes and really it was down to communities themselves to support each other. However now anything and everything is a Federal responsibility with a cost to go with it.
I think we test 6600 upper before any further action especially. Enough orders to only blip down to an older low and rise back.
This graph says a bit lower for the low in a trend but I would guess later and it test up first
The key thing that keeps me bullish on bitcoin and makes me never want to buy dollars with my bitcoins is this:
and this:
Our defense budget, the third largest spending item, is just over $600 billion per year. Just the interest on our debt is about to surpass that.
What happens when the interest on our debt is higher than spending on anything else? Do we just raise taxes and pay it?
Can you see the politician that has the balls and stands up in front of the American people and says "we're raising your taxes. Not for new schools, roads, defense or infrastructure. We're raising it to pay for overspending in previous years. You won't see one benefit from the raised taxes. And more than likely it will actually have zero impact."
But how about this scenario: "Holy shit, that's a lot of debt. How about if we print the amount to cover the interest payments and use tax dollars for everything else. All in favor?"
Of course, what happens when the US government is printing over $600 billion in new money each year with a $3 trillion money supply? What about when that number reaches $1 trillion? 33% inflation rates year by year. Venezuela starts to happen.
Who wants to buy some of those debt based IOU dollars? Great rate at just $6300/BTC. Get them while you can.
Poll
