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

The UK's former Prime Minister, Liz Truss, has stated that the country's economy has been stagnant for decades due to a lack of sound monetary policy and the devaluation of its currency. 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 pound caused by inflation and the printing of new money. Her experience in government, particularly during her time as Chief Secretary to the Treasury, has led to her interest in bitcoin, which she views as a potential tool against currency devaluation. Truss expressed her strong interest in the cryptocurrency, saying she first learned about it while working at the Treasury and mentioned it to stimulate discussion. In an interview with CoinDesk, Truss emphasized that the lack of debate around monetary policy in academia and government has become 'sinister' and that discussions about money have become taboo, despite their crucial role in shaping economic outcomes. She warned that the current system is designed to increase centralized control and limit financial independence through regulation and taxation, positioning bitcoin as a means to counter this trend. According to Truss, the UK economy is on a 'very negative trajectory,' with the country facing long-term decline driven by weak growth, rising state control, and the failure of monetary policy. She argued that high taxes, regulation, and energy costs have created a significant disincentive for entrepreneurs, making the risk often not worth the reward. Truss reflected on the market turmoil that followed the 2022 mini-budget during her premiership, saying 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 voices from the 'sovereignty and liberty' movement. Truss emphasized the need for a movement of people who understand the problems and are willing to drive change, framing the stakes as a choice between accepting the status quo or implementing reforms.