Financial repression is already here, Bitcoin and gold offer a hedge, Callahan says

Governments seeking to sustain heavy fiscal spending are turning to financial repression and currency debasement, shifting the cost to wage earners, savers and bond investors. Bitcoin and gold offer alternatives that are harder to dilute. In an interview published by Bitcoin Magazine on Oct. 19, OrangeBTC Director of Strategy and Research Sam Callahan said financial repression and currency debasement have moved beyond theoretical risks and have been evident over the past five years. Callahan said $2 of every $3 currently in circulation was created after Bitcoin’s genesis block. Citing recent International Monetary Fund data showing global debt above $350 trillion, he said both developed and emerging economies face unsustainable fiscal conditions. Financial repression and currency debasement are among the most politically acceptable options available to governments, he said.

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