Elon Musk, as a good technologist and futurist, predicts that the dollar will soon not be worth much.
Elon Musk knows
Tesla CEO gave an interview to the media The Babylon Bee. The journalists started the debate by offering him an “IOU” (I Own You) of 44 billion dollars.
In French in the text, an IOU is an acknowledgment of debt. The money you have in your bank account, for example, can be considered an IOU. The bank owes you this money, but you may never see it again if you default.
Receiving this IOU inscribed on a napkin, Elon Musk said:
” Pretty soon that $44 billion won’t be worth much. »
Why does Elon Musk say such a thing? Because he is well placed to know that we are crossing peak oil. It’s not for nothing that his empire revolves around electric cars and trucks.
Today, almost 75% of oil is used for transport and 95% of transport uses oil. Trucks are the backbone of the economy. Less oil will necessarily mean less growth and therefore the impossibility of repaying debts.
This will inevitably lead to inflation. Knowing that inflation above 100% over a year or two is hyperinflation. This is already the case in countries like Argentina or Turkey.
Given the trajectory of US debt and the global revolt against dollar hegemony, E. Musk is right to worry about the future of the greenback. Do not miss these two articles to convince you:
- Why so much debt?
- Why so much inflation?
Finally, remember that Tesla holds 10,500 BTC…
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