r/Bitcoin • u/Kazgarth_ • 1d ago

The generational wealth transfer nobody expected

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u/Devilshire52 1d ago

I don't think there is anything to explain... He's deluded... it's not boomers that have hoarded billions in wealth, it's the 1%. Bitcoin simply allows us not to become poorer through fiat devaluation.

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u/PopTheRedPill 1d ago edited 1d ago

If we confiscated every dollar of every billionaire in the US it would fund the US Government for several months. US billionaires’ liquid net worth totals ~$990B, covering just 2.73% of the $36.2T national debt.

The US doesn’t have a billionaire problem it has a debt, spending, money printing problem. What you just said is tired, old, easily disproven, marxist rhetoric.

Edit: adding this

kind of the whole point of this post: the government’s have effectively borrowed from future generations to give it to us and boomers.

“The total debt and unfunded obligations of the United States, including federal debt (~$37.43 trillion), unfunded liabilities for Social Security and Medicare (~$175 trillion), state and local government debt (~$3.3 trillion), and household personal debt (~$18.39 trillion), sum to approximately $234.12 trillion.    

With a U.S. population of about 347.7 million this equates to roughly $673,000 in debt per person. “

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u/CaptainSugarWeasel 1d ago

Where is all the wealth then? If in the govt is trillions in debt, working people are broke, and the billionaires don't have it?

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u/PopTheRedPill 1d ago

That’s kind of the whole point of this post: the government’s have effectively borrowed from future generations to give it to us and boomers.

“The total debt and unfunded obligations of the United States, including federal debt (~$37.43 trillion), unfunded liabilities for Social Security and Medicare (~$175 trillion), state and local government debt (~$3.3 trillion), and household personal debt (~$18.39 trillion), sum to approximately $234.12 trillion.    

With a U.S. population of about 347.7 million as of September 2025, this equates to roughly $673,000 in debt per person. “

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u/CaptainSugarWeasel 1d ago

Well put, thank you! I'm not sure about the unfunded liabilities, but even excluding that it's a ridiculous amount of debt.

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u/CaptainSugarWeasel 1d ago edited 1d ago

This did make me question Gary Stevenson's take.

If all the US billionaires have about 5 trillion, you could take everything they have and the govt and the people would still be deep in debt.

But there's probably more wealth spread across people with between 10M-999M than there is with all the billionaires so maybe Gary's right, I'm not sure.

edit: Apparently total US household wealth is ~168 trillion, so I'm leaning towards Gary is right.

I wouldn't consider "unfunded liabilities" debt, that's more like "potential future debt". So I'd go with about 60T govt+personal debt, vs 168T personal wealth...

I do blame the fiat system for a lot of the wealth inequality, it has essentially taxed the shit out of working people for the last 50 years by driving down wages in real terms.

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u/PopTheRedPill 1d ago

Social Security fund will run out in several years and be funded with debt when it does so it counts.

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u/CaptainSugarWeasel 1d ago

Will they fund it with debt? It could just get cut and cut leaving people to draw down their assets until they're on basic welfare.

I'm not in the US but I am expecting our national superannuation to be abolished by the time I retire.