He proposed an unprecedented solution to the huge US national debt of up to 35 trillion US dollars - using cryptocurrency as a medium for "one-click reset" of debt.
In a national speech, he stood on the Fox News stage and said in a passionate tone: "In this digital age, can we try a completely new way to deal with our debt problem?" He further elaborated that it is possible to consider providing creditors with some digital assets, such as Bitcoin or other stablecoins, to partially offset the debt.
This proposal was like a stone thrown into a calm lake, which immediately caused a huge response in the global financial market. On the one hand, people expressed great appreciation and attention for Trump's innovative idea; on the other hand, many economists and experts expressed deep concerns about it. They were worried that such a radical approach might bring unpredictable risks and even cause turmoil in the global financial market.
The US public debt has grown rapidly from $20 trillion to a staggering $35 trillion in the past six years. Faced with such a huge debt pressure, Trump believes that traditional solutions can no longer meet current needs. Cryptocurrency, as an emerging digital asset, provides him with a new possibility.
As a supporter of cryptocurrencies, Trump firmly believes that these digital assets have the ability to become the key to solving the financial difficulties of the United States. He believes that by using cryptocurrencies, not only can the debt pressure of the United States be reduced, but also the global financial system can be led into a new era.
However, the implementation of this idea faces many challenges. First, the value of cryptocurrencies is extremely volatile, which may lead to large fluctuations in value when repaying debts. Secondly, it is also a huge challenge to get all creditors to accept this new payment method. In addition, the international legal and regulatory framework also needs to be adjusted accordingly to support this new debt repayment mechanism.
Despite the many difficulties and challenges, Trump's proposal shows his determination to try new ideas and seek innovation. Facing such a complex problem, new solutions are indeed needed. Although this idea is more like a theoretical experiment at present, it has at least triggered a new round of discussion and thinking on how to deal with the global debt crisis.
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