Recently, the Federal Reserve in America raised its benchmark interest rate by three-quarters of a percentage point which represents the biggest hike since 1994. The goal of the hike in the interest rate is to fight inflation, but how feasible is that? The hike has led to an increase in fuel prices, food, basic necessities and air travel. The bottom line is that inflation is getting serious, financial and stock markets are not doing well and the purchasing power of fiat currency is diminishing.
Let us use the United States of America as an example. The US national debt is almost $31 trillion and the interest on the US national debt is almost $500 million. Meanwhile, the US government’s spending is almost $7 trillion which is more than the tax revenue of almost $5 trillion. That simply means that there is currently a $2 trillion deficit and since we have 350 million Americans, you can do the maths. You will realize that almost every American owes close to $1 million.
Most of government debt is short term and that means it matures quickly and the rate gets insane. The simple implication of all these numbers that don’t tally is that we are in a recession – even if the government doesn’t admit it. The government keeps printing more money to pay increased debt. And every time we jack up rates, the GDP shrinks and debt keeps smashing private companies. People go bankrupt, fiat currency like dollar, pounds and euros keep losing their purchasing value.
One thing is clear – the Fed cannot hike much more!
And what is the solution to this? Crypto! Crypto is an insurance because it serves as an inflation-protection. Fiat currencies like dollar, pounds and euro suffer against inflation but cryptocurrencies often appreciate against inflation or economic shocks and this makes it the best way to store your money aside from keeping it under your bed.
And that begs the question, what crypto should I buy and how? The C3P token!
C3P is the foundational token and cryptocurrency of Crypdom. C3P token runs on the Tron blockchain and you can buy or trade C3P with bitcoin, ethereum and USDT. What’s more for you? You can use our wallet to store or save your cryptocurrencies. Crypdom coins, C3P tokens are stored on the Tron blockchain which helps make it an inflation-protection. Purchase price for a C3P token is $0.045. More importantly, you can earn up to 10 percent per referrals on C3P purchase! We offer a reliable and scalable trading platform where you can easily trade cryptocurrencies without previous experience. And access to a wallet that you can use to store and hold your cryptocurrencies.
What are you waiting for? Create a C3P ICO wallet now and be part of the Crypdom community. Join us on a journey to stay ahead of this financial solution and use technology and blockchain to proffer solutions to the problems that humans face so that we can make the planet a better place!