You are viewing a single comment's thread from:
RE: The Criminal Banks KNOW Something Is Very Wrong -- Lynette Zang
When the SHTF I think Gold will be a better asset to have instead of Cryptos. When you will have to go to your local supplier for whatever you will need at the time, most likely food, you will have a better chance at trading value with precious metals and a firm hand shake.
'Cryptos? What's a f-ing crypto? Look you want these tomato or not? Cause there are people behind you, so get out of the way.'
You'd be better off with useless dollars, at least he'll be able to start a five with them for his wood stove.
I agree with you 100% , metals will be more recognized at first, at the end of the day crypto is much like fiat, it's value is based on consumer confidence but reality is, there wont be enough metals to go around and ppl running for the exit doors will have to take whatever other currency is available. In the past, it was possible to put your money in a different country's economy because they didn't all falter at once but this time, all the economies are interdependent and they will all start to collapse one by one and all fiat systems will be dragged down. When it comes to international settlements traveling or making purchases abroad, a backpack full of gold or silver will be kind of inconvenient where that will also open the door for crypto currencies along with the permanent recording it provides. If adopted by governments it would also help protect against tax evasion scams because of it's transparency, the blockchain isn't as anonymous as everyone seems to think, it only is for the time being because it is ignored by governments for the most part. I could see a precious metal or other resource backed crypto currency becoming the new standard. At the end of the day, precious metals still win and will gain massive value if it ever comes to such a scenario.
The only disagrement is running out of Precious metals. After 5000 years we still have not run out. It will just be repriced accordingly.
we have not run out but in today's age there is less than 1 % of the population that hold, most of us holders have more than 1 oz and we will not give them up so easily. There will be enough to back a currency with it by increasing it's physical value for sure but there wont be enough for all of the population to trade with daily or convert their current cash holdings into it in a short period of time.
You need to get out of the mindset we have here today. We donnot have a free market system. In a truely free market it will be hard to run out of almost anything because the laws of supply and demand takes care of that. So in a free market you will not run out of gold it will simply be priced accordingly. You have silver, platnum, paladium, copper, nickel, tin, need I go on?