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 experiencing stagnation for decades, with many problems stemming from a lack of sound monetary policy and the devaluation of the currency due to inflation and excessive money printing. Truss, who served as Prime Minister for 45 days in 2022, believes the current financial situation has strengthened her interest in bitcoin, which she views as a potential tool against currency devaluation. Having first encountered bitcoin during her time at the Treasury, Truss expressed her strong interest in the cryptocurrency, citing its potential to 'shake things up.' As the former Chief Secretary to the Treasury, Truss noted that the absence of meaningful debate around monetary policy in academia and government has become 'sinister,' with discussions around money often being taboo despite their significant impact on economic outcomes. Truss warns that the economy is on a 'very negative trajectory,' driven by weak growth, rising state control, and the failure of monetary policy, resulting in the country becoming 'relatively poorer, very quickly.' She attributes this to high taxes, regulation, and energy costs, which create a 'massive disincentive to work' and make entrepreneurship unappealing. Reflecting on the market turmoil following the 2022 mini-budget, Truss argues that it exposed underlying fragilities in the system 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 like-minded individuals to drive change and promote economic reform.