Key takeaways:
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President Trump’s One Big Beautiful Bill could add over $2.4 trillion to the US debt, accelerating a looming debt crisis and spiking inflation.
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Inflation and dollar devaluation remain the path of least resistance in the US economy, eroding the real value of cash and bonds.
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Bitcoin can offer a hedge, but only if held in self-custody, as custodial platforms may not survive a lengthy phase of financial repression.
“Devaluations typically occur fairly abruptly during debt crises.” This quote from Ray Dalio’s book, “The Changing World Order,” hits harder today than when the billionaire hedge fund manager first wrote it in 2021. And for good reason: the US may be walking straight into one.
The US budget deficit exceeded $6 trillion in 2024, and Elon Musk, the former head of the Department of Government Efficiency (DOGE), saw his efforts to cut federal spending fail, with just $180 billion trimmed out of the $2…
