Part 13/18:
He reiterates that the core problem is U.S. insolvency. The country’s ability to finance its debt is at risk due to the growing size of deficits, weak demand for Treasuries (as foreign holdings decline), and the Federal Reserve's extensive bond purchases. The risk of a ‘soft default’—via inflation—is an ongoing concern. As the U.S. continues to devalue its currency, the likelihood of a crisis—similar to hyperinflation scenarios—is increasing.
He emphasizes that the U.S. can sustain this recklessness for some time, but the cost may be catastrophic in the long run. Transitioning to Bitcoin or similar assets could mitigate these risks by offering a credible store of value independent of government policies.