Elon Musk

<p>Elon Musk, the renowned technologist and futurist, predicts that the dollar will soon be worth next to nothing.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-45-06.png" srcset="https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-45-06.png 1007w, https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-45-06-300x167.png 300w, https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-45-06-768x426.png 768w" sizes="(max-width: 1007px) 100vw, 1007px" class="post-cover-image--img" alt="Elon Musk"></div><div class="my-4"></div>



<h2 id="h-musk-knows">Musk knows</h2>



<p>The CEO of Tesla granted an interview to the media outlet The Babylon Bee. The journalists started the debate by presenting him with an “IOU” (I Own You) worth 44 billion dollars.</p><div class="my-4"><div class="ads ">
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<p>An IOU is a <a href="https://www.cointribune.com/en/public-debts-a-risk-for-the-markets/" target="_blank" rel="noreferrer noopener">debt</a> acknowledgment. The money you have in your bank account, for example, can be considered an IOU. The bank owes you that money, but you may never see it again in the event of default.</p>



<p>Receiving this IOU written on a napkin, Elon Musk stated:</p>



<p>“Pretty soon, <a href="https://twitter.com/saylor/status/1664157635296350208?s=20" target="_blank" rel="noreferrer noopener">$44 billion</a> won’t be worth that much anyway.”</p>



<figure class="wp-block-image size-full"><img decoding="async" width="589" height="652" src="https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-42-25.png" alt="" class="wp-image-605946" srcset="https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-42-25.png 589w, https://www.cointribune.com/app/uploads/2023/06/Capture-decran-du-2023-06-01-09-42-25-271x300.png 271w" sizes="(max-width: 589px) 100vw, 589px"><figcaption class="wp-element-caption">https://twitter.com/saylor/status/1664157635296350208?s=20 </figcaption></figure>



<p>   Why does Elon Musk say such a thing? Because he is well aware that we are approaching peak oil. It’s no coincidence that his empire revolves around electric cars and trucks.</p>



<p>Today, nearly 75% of oil is used for transportation, and 95% of transportation relies on oil. Trucks are the backbone of the economy. Less oil will inevitably lead to less growth and thus the inability to repay debts.</p>



<p>This will inevitably result in inflation. It’s worth noting that inflation exceeding 100% over one or two years is considered hyperinflation. This is already the case in countries like Argentina or Turkey.</p>



<p>Considering the trajectory of US debt and the global opposition to the dollar’s hegemony, E. Musk is right to be concerned about the future of the greenback. Don’t miss these two articles to convince yourself:</p>



<ul>
<li><a href="https://www.cointribune.com/pourquoi-tant-de-dettes/" target="_blank" rel="noreferrer noopener">Why so much debt?</a></li>



<li><a href="https://www.cointribune.com/pourquoi-tant-dinflation/" target="_blank" rel="noreferrer noopener">Why so much inflation?</a></li>
</ul>



<p>To conclude, let’s remember that Tesla holds 10,500 BTC…</p><div class="my-4"><div class="ads ">
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Elon Musk warns of hyperinflation

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