Kim Dotcom ‘Buy Crypto and Gold’ Predicts USD Collapse Given Recent Events
Popular Bitcoin advocate Kim Dotcom has once again predicted doom for the US dollar. Alluding to the recent proposal for the creation of a EU monetary fund by the German Finance Minister, the Bitcoin supporter stated that Europe was aiming to curb the dominance established by the American fiat currency. The proposal also suggested the adoption of EU Swift and non-US payment systems. Kim concluded by encouraging investors to purchase more gold and cryptocurrencies.
The instance mentioned above is not the first time that Kim has issued a bearish call on the US dollar. On August 9th, the outspoken crypto hobbyist warned investors that the US monetary system was on the verge of collapsing. Precisely, he referred to the current deficit in the US government that amounts to $1 trillion worth of debt annually. In this regard, Dotcom said that the economic growth rate and minting of more money is not adequate to offset the debt.
Significant! German Finance Minister proposes EU monetary fund, EU swift and non-US payment systems. He says its to salvage Iran deal. But it’s really the EU exit from USD dominance. Like I said, USD will collapse. Buy crypto and gold. https://t.co/wYmIQmD8ZY
— Kim Dotcom (@KimDotcom) August 22, 2018
In yet another tweet, Kim Dotcom said that the unease between China and the USA could have a significantly adverse on the latter’s economy. Kim said that the imposition of hefty taxes on Chinese imports by the US administration was an indicator that the American government is broke, and a collapse is definitely impending. He added that he expects China to retaliate by taxing US exports to the country, further intensifying the economic battle. Kim said that Bitcoin will benefit from this and shoot up in value as a result.
Kim’s first outburst against the high tariffs enforced by the Trump administration came in early July. He stated that the exorbitant tax rates would fuel the start of a global economic war pitching the US against the rest of the world. Consequently, investors would dispose their stocks and share in favor of purchasing crypto assets, a factor that would cause the markets to drop. The US government would also be forced in acquiring cryptocurrencies to prevent the collapse of its economy.
All that said, it appears that Kim will not stop at anything to promote his Bitcoin agenda. Although his arguments have some substance, the root of his enmity with the US bureaucracy might have played a role in his outrageous comments.