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US economic advisor says “govt can’t go bankrupt bcz they can print own money”

US economic advisor says “govt can’t go bankrupt bcz they can print own money” 2

Many financial experts raised a very big question about the mentality of the Chair of the Council of Economic Advisers. 

After the COVID-19 pandemic, the majority of the countries struggled badly to maintain their economic growth, as a huge number of companies suspended their global trade for several months. Following the pandemic, bad economic policies badly impacted the inflation rate of the majority of countries, including the United States of America (USA). 

Recently a documentary “Finding the Money” was released, in which Jared Bernstein, Chair of the Council of Economic Advisers and a key advisor to President Biden on economic policy passed several controversial statements. 

In particular, Jared said that the US government can’t face bankruptcy because they can print their own money. 

a key advisor to President Biden said:

"The US government can’t go bankrupt because we can print our own money"

Free Money 🤑💰🤑💰🤑🤑

— Bitcoinik (@Bitcoinikdotcom) May 4, 2024

This latest statement by the Biden Administration’s economic policy advisor acted as a catalyst to boost the discussions around Bitcoin amid this era of unprecedented government spending and debt.

A crypto enthusiast said that the Chair of the Council of Economic Advisers probably has no idea what he said. 

This is terrifying.

This is the Chair of the Council of Economic Advisers, the agency providing the President with economic advice on domestic and international economic policy.

Has no idea WTF he is talking about.

Credit to @DylanLeClair_ pic.twitter.com/iaDhiNy2K7

— The Wolf Of All Streets (@scottmelker) May 3, 2024

A few crypto X (Twitter) users noted that Jared struggled to articulate his understanding of the economy. 

“govt definitely prints money and it definitely lends money, which is why the govt definitely prints money, & then it lends that money by selling bonds. Is that what they do? they sell bonds. Yeah, they sell bonds. Right. Bcz they sell bonds and people buy the bonds and lend…

— Bitcoinik (@Bitcoinikdotcom) May 4, 2024

Such types of statements on the economy are surely going to inject a huge level of bullish sentiment among the Bitcoin investors, as Bitcoin supply is limited to 21 million & its value is defined by the market value, not by any government power.

The current trade price of Bitcoin (BTC) is $63,260 & this trade price is 6.5% higher over the last 24 hours.

Current #Bitcoin price is $63.2k pic.twitter.com/m7uxisczOl

— Bitcoinik (@Bitcoinikdotcom) May 4, 2024

Read also: Robert Kiyosaki warns “AI going to slash jobs, so buy Bitcoin & own a small business” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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