“There has never been a global recession since Bitcoin was created. Next time it happens, there is an escape hatch…”
Bitcoin may be a way out, or “an escape hatch,” as put by ShapeShift chief executive and crypto entrepreneur Erik Voorhees. Bitcoin may be the best way to provide people with a lucrative way to prepare for imminent global recession and collapse of the debt-based system.
Bitcoin is the sensational decentralized cryptocurrency that could be the answer to central banking – which has caused all of the recessions in the recent past. The economy’s outlook is becoming so horrifying that Ray Dalio, the co-founder of the world’s largest hedge fund, Bridgewater Associates, recently drew eerie parallels between today and the Great Depression. In a comment made at Davos, the world-renowned investor explained that from 1929 to 1932, there was a lot of “printing of money, and purchases of financial assets,” much like today.
And he isn’t the only one who thinks we could all live through another depression. Peter Schiff, infamous for his uncanny ability to call the Great Recession before the media’s talking heads did, also believes another Great Depression is coming down the pipes, and this one will be worse than the last.
“The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.”
Voorhees took to Twitter to declare that Bitcoin is the answer since economists and central bankers are “no longer pretending” that they could prevent a recession they ignited anyway.