Scott has an income of $55,000 per year.
Scott spends $75,000 per year ($10,000 on guns).
Scott grows his debt by $20,000 per year.
Scott has total debt right now of $400,000.
Scott has fixed unfunded liabilities of $1,750,000 and is less than 10 years from retirement.
Scott's own employees say that his 130% debt will be 690% by the year 2096.
Scott needs to refinance roughly $100,000 in the next 12 months to stay solvent.
What is happening now?
Scott has a Japanese friend who is his biggest lender (despite being in even more debt) that just told Scott he might need to unwind $110,000 of Scott's debt to the open market. Therefore Scot sent his Japanese friend "$50-$100" this summer to keep him calm and ask him to not dump the debt.
The credit card companies Scott borrows from are refusing to give him cheap debt anymore, and are giving him 19 year highs on interest rates.
Scott said on August 19th that because nobody is buying his credit card debt that he will "at least double" the rate he is buying back his own credit card debt with new debt he takes out. The credit card companies didn't like that and offered him even higher rates 24 hours later.
If Scott goes bankrupt we have WW3, because Scott has been buying lots of guns. Scott would rather dilute Dollars he is borrowing in and watch himself starve than go bankrupt.
You can buy 100% of the insurance in the world against Scott's insolvency for $15,700.
Scott himself has said publicly that he wants to buy insurance against himself and that people should consider buying it.
Scott's friends say they want to back his debt with the insurance against his debt - because the insurance is that cheap and the debt is that bad.
This insurance plan's cost to buy went up 30% over the last 3 days.
Why? Because people are starting to doubt Scott.
Scott is America.
The insurance plan is Bitcoin.