Kim Dotcom Predicts Biggest Crash Ever Is Looming, Urges Crypto And Gold As Safe Havens
You may have heard of Kim Dotcom. This internet guru and popular Bitcoin advocate was already in the news many times for predicting the doom of the USD. Now, he is doing it once again and has urged his followers on Twitter to buy as much Bitcoin and gold as they can to protect from the next crash.
The big crash is coming.https://t.co/1K5tZqogTA
Buy Crypto and Gold!
— Kim Dotcom (@KimDotcom) September 17, 2018
The Great Crash
The crash that Kim was talking about was “announced” in an opinion article in NZHerald recently entitled “Think 2008 Was Bad? Next Crash Set To Wipe $15 Trillion Off Stock And Property Markets”.
In the article, the opinion that all major economies are on the verge of cracking due to lack of fiscal and monetary tools is defended. According to the article, the next recession will be deeper and longer.
According to Feldstein, former chairman of the White House Council of Economic Advisors, the scenario may be even bleaker than 2008 and very akin to 1930. According to him, over $15 trillion USD can be wiped off the economy. The professor is also concerned with the fiscal deficits rising and most of Europe and the United States will suffer the crisis.
As the American government is tied up with the US treasury, there are serious doubts on whether the authorities could save the market again just like they did in 2008. There are concerns that Trump could use his power to simply let the economy of Europe go down and cause a giant crisis worldwide.
About Kim Dotcom
Kim Dotcom, the former owner of Megaupload, is an internet celebrity that is known for his behavior of stating that USD is about to end… all the time. Some recent affirmations can be seen here, here, here and here. It cannot be denied that Dotcom is a big speculator and an alarmist, so he consistently claims that the USD is about to end.
In one case, he predicted that the trade war between China and the U. S. would beat the USD and now he is saying that the monetary system is on the verge of collapse. He is mainly very anti-Trump when it comes to the policies that the president decides.
He has stated on occasion that, as the USD falls, the American government would have to buy cryptocurrencies in order to prevent the total collapse of the economy. His main argument is that the debt is too high and that the country will simply not be able to pay it.
It would not be a great idea not to take Kim’s comments with a grain of salt, though. He clearly hates the U. S. bureaucracy and, even if his comments have some sort of truth in them, he clearly exaggerates.