Ex-UK Prime Minister Warns of Economy's Downward Spiral, Expresses Support for Bitcoin

The UK's former Prime Minister, Liz Truss, has expressed her concerns over the country's stagnant economy, which she believes has been struggling for decades due to a lack of sound monetary policies and the devaluation of its currency. Truss, who served as Prime Minister for 45 days in 2022, attributes many of the economic problems to the erosion of the pound's value caused by inflation and the printing of new banknotes. Her interest in bitcoin was strengthened by the financial situation, with some viewing the cryptocurrency as a hedge against currency devaluation. Truss first encountered bitcoin during her time at the Treasury and has since become "very interested" in it. She criticizes the lack of serious debate around monetary policy in academia and government, calling it "sinister" and a "taboo" despite its significant impact on economic outcomes. Truss views bitcoin as part of a broader movement against centralized control and in favor of financial independence. She warns that the current system is designed to increase centralized control, limiting financial freedom through regulation and taxation. The UK's economy, according to Truss, is on a "very negative trajectory" with long-term decline driven by weak growth, rising state control, and failed monetary policies. She points to high taxes, regulation, and energy costs as major disincentives for entrepreneurs, making the risk often not worth the reward. Truss reflects on the market turmoil following the 2022 mini-budget, arguing that it exposed underlying fragilities rather than causing them. She is now focused on building a political movement, including the CPAC UK conference, aimed at bringing together activists, entrepreneurs, and voices from the "sovereignty and liberty" movement to drive change.