Saturday, September 23, 2023

Falling Crypto Value Caused by Joe Biden


Serial cryptocurrency fraudster Jake Paul accuses US President Joe Biden of a slew of economic problems, including rising inflation and falling cryptocurrency prices. Individuals who still believe in Biden are the American issue, according to Paul, who expresses his thoughts on Twitter. Thus, he has numerous complaints about the President.

Four significant current economic concerns, according to Paul, may be on Biden’s side. These are the highest gas costs, the harshest inflation, the lowest cryptocurrency values, and the highest rental costs historically. Paul also put the fifth allegation at Biden’s feet, claiming that he develops a new nonsensical language.

While critical, this problem is not exclusive to the current President. Previous presidents, like George W. Bush and Donald Trump, were also notorious to stretch the phrase to its limits. This implies that clarity is not required for the role.

The Undeniable Monarch of Lousy Investment Advice

Average Americans are battling with the present economic circumstances. Hence, individuals who seek financial advice from Jake Paul are suffering much more. The YouTuber pushes a number of dud cryptocurrency schemes and frauds, throwing regular investors out of cash.

Paul did recommend the NFT rug pull as well as Pokemon knockoff Animoon. Their creator escapes with $6.3 million in investor funds. Paul is also promoting Sacred Devils, Yummy, Milf, as well as STICKDIX. The latter is an infantile and extremely dumb effort, as the title suggests. Apart from Jake Paul, the only thing these initiatives have in common is that they all end up miserably for investors.

Paul’s interest in the economic well-being of the American people is admirable. Thus, his particular record of exploitation reveals that these worries never expanded to his own admirers and supporters.

The Culture of Responsibility

The criticisms Paul throws against the President occur as the US economy continues to deteriorate. Inflation reaches 8.6%, its highest level since December 1981. The US currency is depreciating faster now than it has in the previous 40 years.

Anthony Pompliano, a Bitcoin trader, explains that the causes of America’s present economic troubles in May. Lockdown rules produce a liquidity problem in the stock exchange during the 2020 Covid catastrophe. They use massive quantities of substantial loosening and low-interest rates to fight this. This is overwhelming the market with cheap cash.

While Trump was still President in June 2020, the Fed releases more cash in one month than it had in the previous two decades. Nevertheless, once Biden will come enters office, they will still not alter the program of monetary stimulus. In reality, Biden’s $1.9 trillion stimulus proposal increases the creation of money.

As Jeff Bezos states in May that the president-elect wishes to go much further. Bezos believes that Biden’s $3.5 trillion Build Back Better proposal will merely exacerbate and prolong the current situation.

It’s evident that Biden’s problems aren’t entirely his fault.  However, it’s less evident that the President had the vision to shift direction. Inflation has become a huge demon riding on the President’s shoulder. With the living, costs rising for average Americans and the November midterm elections, it’s one demon Biden will want to confront. Social media demons, on the other hand, he can comfortably disregard.

Ivan Cruz
Ivan Cruz
Ivan Cruz is a writer for Cryptoconstellation. He has his Masters in Applied Research in Economics & Business. Ivan has been trading crypto for the past 7 years himself and feels it is his duty to bring you all the latest news.

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