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

According to Liz Truss, the UK's former Prime Minister, the country's economy has been experiencing stagnation for decades, largely due to the lack of a stable currency and the erosion of the pound's value caused by inflation and excessive money printing. Truss, who held office for 45 days in 2022, believes that the current financial situation has strengthened her interest in bitcoin, which is seen by some as a hedge against currency devaluation. She first became familiar with the cryptocurrency during her time at the Treasury, where she mentioned it to stimulate discussion. Truss stated that she is "very interested" in bitcoin, citing the debasement of the currency and the lack of sound money as major contributors to the UK's economic problems. The absence of meaningful debate around monetary policy in academia and government has become "sinister," and discussions about money have become a "taboo" within the government, despite their crucial role in shaping economic outcomes. For Truss, bitcoin represents part of a broader concern about centralization and control, as she warns that the current system is designed to increase "centralized control" and limit financial independence through regulation and taxation. She positions bitcoin as a means of pushing back against this trend. Truss described the economy as being on a "very negative trajectory," driven by weak growth, rising state control, and what she sees as a failure of monetary policy. The country faces long-term decline, with high taxes, regulation, and energy costs creating a significant disincentive to work and entrepreneurship. Reflecting on the market turmoil that followed the 2022 mini-budget, Truss maintained 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 voices from the "sovereignty and liberty" movement. Truss emphasized the need for a movement of people who understand the problems facing the country, framing the stakes as a choice between accepting the status quo or driving change.