Won’t it be the insurance companies specifically who will need...

Won’t it be the insurance companies specifically who will need to be printing most of the money?

And over the next period …

(from an ‘it’s all a foreign language but I’ll think about it anyway’ perspective) ​

.. I thought ‘they’ might just convert currency to bitcoin or in some way and redeem the national debt by paying other countries out with that…. After they all agree to ascribe value to it.

…And I just saw Van Eck published a view on this from some who have thought it through …

Spoiler : 23/12/2024 Bitcpin and US National Debt : Van Eck

https://www.fxstreet.com/cryptocurr...-could-cut-us-debt-by-36-by-2050-202412231008

VanEck: Bitcoin reserve could cut US debt by 36% by 2050

CRYPTOS | 12/23/2024 10:08:28 GMT

VanEck claims a Strategic Bitcoin Reserve could reduce U.S. national debt by 36% by 2050, aligning with Senator Cynthia Lummis's Bitcoin advocacy plan.

VanEck suggests that a Strategic Bitcoin Reserve could reduce the U.S. national debt by 36% by 2050, aligning with Senator Cynthia Lummis's proposal for the country to accumulate one million Bitcoins over the next five years. Lummis believes this reserve could provide long-term financial stability and protect future generations from inherited debt burdens.

VanEck’s analysis estimates that such a reserve could lower U.S. debt by approximately $42 trillion by 2049, assuming a 5% annual debt growth rate and a 25% yearly increase in Bitcoin's value. Under this projection, Bitcoin’s price would surpass $42 million, positioning it as a dominant global financial asset by mid-century. VanEck predicts that Bitcoin could eventually represent 18% of the world's total financial assets, which are expected to grow at an average rate of 7% annually.

Mathew Sigel, VanEck’s head of research, highlighted Bitcoin's potential to become a major global settlement currency. He pointed out that Bitcoin could offer an alternative to the U.S. dollar, especially for nations aiming to bypass American financial sanctions. Sigel noted the increasing reliance on Bitcoin as a neutral asset for global trade agreements.

To initiate this reserve, VanEck proposed several key actions, including halting the sale of Bitcoin from U.S. asset forfeiture reserves. They also suggested that policy adjustments under a potential Trump administration could accelerate the adoption of this strategy, such as revaluing gold reserves to market prices and utilizing the Exchange Stabilization Fund for Bitcoin purchases.

These measures, according to VanEck, could bypass lengthy legislative processes and enable quicker implementation. However, not everyone is convinced.
Venture capitalist Nic Carter expressed doubts about whether a Bitcoin reserve would genuinely strengthen the U.S. dollar or effectively manage national debt.
Investor Peter Schiff offered an alternative solution, proposing the creation of a digital currency called "USAcoin," modeled after Bitcoin but with improvements to enhance usability for everyday transactions. Schiff argued that such a digital currency, capped at 21 million units like Bitcoin, could provide financial stability without depending on volatile Bitcoin valuations.

Despite the skepticism, VanEck remains confident that Bitcoin could play a transformative role in U.S. debt management and the global financial system. The debate highlights a growing divide between traditional financial approaches and emerging digital asset strategies. With influential figures on both sides, the future of Bitcoin in U.S. fiscal policy remains uncertain but undeniably significant.

As to the LA fires -
…. Overwhelming in an already overwhelmed world :/
Money, debt, disasters, AI and all its’implications, growing population, ‘plague’ etc etc

Where is gold in all this?
Food and water security, and safe geographies must become more important as time goes by.
Given those are REAL needs by REAL people it seems to me REAL gold will always be a preferred ‘treasure’ to hold and trade.

I guess thus is all a bit of an ‘aside’ kind of post, but to divert a littke more, when my son was in Year 9 we went on a university trek in Nepal - to a land far away in time, as well as location.
There are lots of memories; One was meeting this rather dangerous looking man on the trail.
He was striding along with his wife leading a cow, walking a few steps behind.
She was liberally covered with gold jewellery.
The cow was fat.
And the vignette made a huge impression on me.

Gold.

Cheers and stay safe and hold what is dear to you close, wherever you are in time and place.
And thank you again for this very REAL operation Spartan.