Ex-UK Prime Minister Warns of Economic Downturn, Expresses Support for Bitcoin

The UK's former Prime Minister, Liz Truss, has expressed concerns that the country's economy is on a downward spiral, citing decades of stagnation and a lack of stable currency as key factors. Truss, who served as Prime Minister for 45 days in 2022, believes that many of the economic problems stem from the erosion of the value of the British pound due to inflation and the excessive printing of banknotes. Her interest in bitcoin was strengthened by the current financial situation, with the cryptocurrency being seen by some as a hedge against currency devaluation. Truss first encountered bitcoin during her time at the Treasury, where she mentioned it to stimulate discussion. As Chief Secretary to the Treasury from 2017 to 2019, Truss developed a strong interest in the cryptocurrency. In a recent interview, Truss stated that "a lot of the problems we have are due to debasement of our currency and lack of sound money." She also criticized the lack of meaningful debate around monetary policy in academia and government, calling it "sinister" and a "taboo" despite its significant impact on the economy. For Truss, bitcoin represents part of a broader movement against centralization and control, which she believes is limiting financial independence through regulation and taxation. The former Prime Minister warned that the UK is on a "very negative trajectory," facing long-term decline due to weak growth, rising state control, and failed monetary policies. She emphasized that the country is experiencing a decline in wealth, citing high taxes, regulation, and energy costs that discourage entrepreneurship. Truss reflected 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, which aims to bring together activists, entrepreneurs, and advocates for sovereignty and liberty. Truss emphasized the need for a movement to address the country's problems, stating that there are only two options: either the country is finished or it must change.