Thread by @davetroy

The global economy is about to be fucked up in ways that will have economists and historians studying the aftermath for generations to come. People have no idea. Those with savings and equities are most at risk.

The combination of failure to pass an Omnibus, likely US debt default, and shunting US Treasury assets into a “strategic bitcoin reserve,” and totally unregulated Ponzi crypto asset bubbles is a recipe for destruction of US and EU. The dollar will become worthless.

This sets up a zero sum game, to steal assets from those who have them now, and give them to people who hold play crypto assets. This paper explains how. Warning: requires reading, not just vibes, to understand.
papers.ssrn.com/sol3/papers.cf…

The only thing that can possibly stop this is a critical mass of Republicans breaking with the Freedom Caucus cult and threatening their peers with stark consequences. But that’s unlikely, and they don’t have much leverage.

So anyway unless some miracle occurs, this is the end. It was a good run, and we tried.

Some of you emailed asking about how to manage these risks. Here is a summary, which I will keep updated.

https://x.com/davetroy/status/1854593463926354204