Kim Dotcom: Convert to Cryptocurrency and Gold Before the Dollar Becomes Worthless

Megaupload founder Kim Dotcom (born Kim Schmitz) said on Twitter that the US dollar will become worthless and everyone should buy cryptocurrency and gold.

Schmitz said that when the US economy collapses, all old currencies will collapse. Time will be tough, but if people hedge some assets in response to the collapse, they will be fine.

According to his earlier tweet, the US government has added $1 trillion in debt each year and the US spending was funded by lenders who would never get a return. As the global economic crisis erupts, the United States will also be destroyed.

Schmitz’s warnings are not groundless. In fact, according to figures released by the US Treasury Department last week, the US government’s budget deficit last month recorded about 76.87 billion US dollars, an increase of 79.3% year-on-year, which is only lower than the 77 billion US dollars expected by economists; and the 2018 fiscal year. In the first 10 months (from October of last year to July this year), the budget deficit increased by 20.8% year-on-year to over $68.3 billion.