Young Generation Lives in ‘Casino Gulag’

Whereas there isn’t a clear definition behind “On line casino Gulag,” from Kesier’s X posts, we will get a strong understanding of this idea. In one in all his tweets, Keiser claimed:

“America’s gulag economic system is a stealthy concoction constructed by insurance coverage firms which have entry to free cash to construct what are primarily focus camps with WiFi.”

In one other tweet, he outlines:

“The On line casino Gulag: 

• Destructive rates of interest 

Leaves you caught on-line playing in hopes of profitable sufficient for a protein tablet and to maintain electrical going one other 6 hours.”

Often, Keiser brings up the On line casino Gulag idea when reacting to the information from the U.S. and different First World nations, when a decline within the high quality of lifetime of the youth or new restrictive initiatives happen.

In Keiser’s posts, On line casino Gulag refers to:

• Authorities stripping residents of their freedoms, like leaving the home in the course of the COVID-19 quarantine or privateness violations.
• Millennials and Gen Z can not afford housing, travelling, paying payments, and so on.
• Kids doing sports activities bets or buying and selling memecoins (crypto tokens with no use case other than speculative buying and selling) and meme shares as an alternative of constructing wealth from scratch by way of enterprise or labor.
• Individuals are getting distracted from actual issues by digital actuality or idle hopes of getting wealthy by way of numerous forms of playing.

In one of many X posts, Keiser, who himself is a Child Boomer, claims that it’s boomers who left millennials and zoomers with nothing however playing within the On line casino Gulag. Child Boomers are certainly the wealthiest technology within the U.S., controlling over 50% of households within the nation as of 2024.

In one other publish, Keiser is setting “On line casino Gulag” towards “Bitcoin seaside,” emphasizing that, not like many common methods to get wealthy quick, Bitcoin is an actual alternative for the youth. In the exact same publish, Keiser signifies his disfavor of gold whereas giving his full desire to Bitcoin. 

For Keiser, Bitcoin seaside might also be a metaphor of El Salvador, as he’s President Nayib Bukele’s advisor and speaks up in favor of El Salvador’s Bitcoin-centered coverage. Like Bukele, Kesier ignores the latest Worldwide Financial Fund evaluate that exposed that the nation stopped shopping for bitcoins by March of 2025 because the deal between El Salvador and the IMF required it.

Struggles of Gen Z

Nominally, wages grew by 78% between 2006 and 2025, but when we consider inflation, we’ll see that the expansion fee is beneath 12%. The common tuition payment doubled between 2004 and 2022. The housing costs grew by 88% between 2016 and 2025. Scholar debt loans, staggering inflation, excessive rates of interest, and unaffordable housing make Gen Z and millennials lag compared to boomers.

Monetary struggles of the American youth are one of many the reason why individuals of their 20s are seen as potential drivers of Bitcoin adoption. Most zoomers don’t have retirement accounts, however a few of them see Bitcoin as an alternative. In his article for Motley Idiot, Dominic Basulto outlines that zoomers are likely to put money into riskier property than previous generations. Whereas by threat property, Basulto meant cryptocurrencies per se, betting on extremely risky investments reinforces Keiser’s claims about On line casino Gulag. Greater than that, in line with the analysis carried out by the Financial institution of America Institute, Gen Z is spending extra money on leisure than on financial savings.

The identical examine means that by 2035, Technology Z goes to develop into the richest one as it would steadily personal the property of boomers as they die. 

Home all the time wins

As zoomers are nonetheless removed from being the richest dwelling technology, a few of them search for fast fortunes, as old-school wealth playbooks don’t work effectively for them. Many zoomers reject the recommendation to save cash as they don’t see the way it will assist them get wealthy. Monetary nihilism is born the place the system is failing the individuals. On the similar time, some brag about their riches made by way of lottery-like investments–and crypto suits on this picture completely, particularly extremely speculative and risky crypto like memecoins.

One of many largest crypto novelties within the memecoin craze of 2024-2025 was the Solana-based launchpad Pump.enjoyable, the place customers with no data of coding can launch their memecoins. The platform went reside in January 2024. Since that second, its customers created some 11.9 million tokens–principally nugatory ones. The core viewers of the platform is youth. 59% of Pump.enjoyable guests are between 18 and 34. The viewers aged 35-44 makes up one other 20%, that means that playing is usually a Gen Z and millennial factor. 

As of January 2025, lower than half of a p.c of all Pump.enjoyable addresses earned $10,000 or extra by way of memecoins launched on the platform. The June 2025 findings present that 60% of customers lose cash by way of investing in memecoins. Each second, a pockets is misplaced not less than $500, whereas a number of wallets’ losses quantity to over 1,000,000 {dollars}. 

As for the On line casino Gulag, it’s truthful to repeat the outdated maxim: the home all the time wins. In July, Pump.enjoyable carried out an immensely profitable ICO, or “one final exit pump,” as Alon, one of many Pump.enjoyable creators, referred to as it. It took solely 12 minutes to promote all of the Pump tokens. The corporate raised $500 million regardless of the damaging press protection that preceded the ICO launch. The neighborhood was begging for airdrops, however the Pump.enjoyable crew most popular to not donate tokens to activists.