Be ready for next financial crisissteemCreated with Sketch.

in money •  last year

Hello steemians,

bank run.gif

Next financial crisis might be different from the last one so better be ready this time.

Since 2007-2008 crisis, central banks tryto refund the system and solve subprime crisis by creating a bigger bubble with Quantitative Easing injecting trillions of dollars.

centrals banks.png

The plan is to massively inject liquidity and keep interest rates at all time low to encourage borrowing in hope to revive the economy enought to refund debt.

Stock prices are at all time high, house market recovered with all time high in some area of the world, unemployement rate has decreased, everything looks good on paper right?

Not really because debt keep growing, rich get richer and poor get poorer and nobody find an exit strategy.
How we get out of debt? Who will pay?

        In fact government are already looking for solutions!

European Unions is looking to freeze bank accounts before a bank run takes place and seize money in case of crisis, pretty convenient isn't it?

http://bitcoinist.com/eu-proposes-account-freezes-to-prevent-bank-runs-bitcoin-to-the-rescue/

History proove us in case of systemic crisis government and banks seize us:

https://www.forbes.com/sites/steveforbes/2013/03/25/can-a-cyprus-like-seizure-of-your-money-happen-here/#3eb923225061

Historically centralised money are really bad to protect wealth long term as dollars loast 98% of buy power since 1900, with all the debt and money printed last decade hyperinflation is a real risk.

dol vs gold.jpg

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Imagine if all centralised money would enter in hyperinflation as Venezuela currency does last few years:

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hyperinflation.png

We don't know when next crisis will happen, what we know from Cyprus and Greece experience is better not have our money in banks because when the crisis will explode you will not have access to your money anymore.

So what options are left to protect our wealth during what could be the worst financial crrisis ever?

As steemit users you certainly already know the answer, protect at least 20% of you weatlh with physical precious metals and buy digital cryptocurrencies!

Don't let your crypto's on exchanges, safely cold store your assets.

Always have a minimum of 3 months stock of food because it might be difficult to purchase it in panic events , unexpected wars or climatic events could also cause food shortage.

Do you know the world food supply has only few weeks of stock in advance to feed the world?

20 millions people are already suffering from starvation and famine.

http://www.dailymail.co.uk/sciencetech/article-3373018/The-world-faces-widespread-food-shortages-global-warming-Crops-scarce-droughts-ravage-Africa-Asia.html

https://www.theguardian.com/world/2017/mar/11/world-faces-worst-humanitarian-crisis-since-1945-says-un-official

deniswaitley1.jpg

Links:
https://www.cnbc.com/2017/07/26/heres-why-everyone-is-watching-the-feds-balance-sheet.html

https://www.theguardian.com/sustainable-business/2016/feb/16/inequality-happiness-rich-getting-richer-poor-wellbeing-life-satisfaction

https://www.washingtonpost.com/news/wonk/wp/2017/07/27/how-the-climate-crisis-could-become-a-food-crisis-overnight/?utm_term=.784718e80384

https://www.brainyquote.com/quotes/quotes/d/deniswaitl165018.html

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Some people laugh at us gold and silver stackers and crypto enthusiast, the fact is that many of the younger generations haven't really experienced how dreadful an economic collapse could be and many who have experienced previous crashes have gold fish memory and perhaps believe in janet yellen that there won't be any more economic disasters. Yea right and a pig doesn't taste like pork ? No fiat money ever survived in the long run so when the next economic crisis hits I won't be laughing but I will be thankful for silver gold and crypto :) great post and making sure to stock food is really a key that some forget. If you are starving, what would you choose, food or bitcoin ? This should be high priority so great you brought that up !

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Hey question if collapse hits and there is a run on banks many home owners and renters will be homeless. Where do keep your precious metal supply?

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If it was me I would probably hide some in a place in the forest that I knew was safe, maybe 70 percent. The other 30 I would try to still carry with me

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thanx @damarth sir for appriciate me on my welcome on steemit..best wishes u for ur work on steemit and in ur whole life for more succes..GOD bless u and give u more happines in ur life..thanx again @damarth sir

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You are 100% correct! I am glad to start investing into cryptos at this point and to be able to leave if necessary to another country if mine goes belly up- Next to that I have about 2 months worth of water and food in the basement. (and a big garden so I always grow something regardless of the situation)
safety is an illusion and you should always try to keep you and your loved ones safe.

Just think if just 10% of the world's population put £100 into crypto currency the market cap and prices would rise, encouraging more people to invest and so the rise would increase and the decentralisation of banks would occur and bailouts would become a thing of the past... I for one am encouraging friends and family to put just a little aside and invest for the future - take control of your finances lets not make bankers richer!!

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I have also been urging my friends and relatives to invest for the future. But explaining Steemit and the basic concepts of cryptocurrencies to them has been really hard. They just can't believe such an economy can exist. They are comparing it back to the barter system of the past!

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Your right it is hard, people are like, but where does the money come from? im still searching for the perfect answer to this question

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Many of my friends told me that steemit sounds simply too good to be true.
And they are going to feel bad about not joining it soon.

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Good

Excellent Post brotha. !

Its very obvious that soon we are gona face it; moreover this time impact will be much worse. All strong economies are trying to fake economic situations not to get the public panick. Major financial firms had hinted of approximate $70 trillion new debt at present, we should expect next crisis to be much worse than the last one. I think major outcome of next crisis, would be wide acceptance of digital currencies. It may trigger an era of digital currency dominance !!

All the experts are telling the same. I am helping spreading the word ... scary in a world with high technology, robots and AI. ... This bubble is bigger than the 2008 one...here many interesting articles... http://bit.ly/2uKAtS7

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Absolutely, for those of us into cryptocurrencies...and I'd say the vast majority of Steemians are, this is like common sense. But when we try to talk to someone "mainstream" about it (cough, my parents, cough)... it's like talking to a brick wall.

Ok, maybe my analogy is a bit extreme - even the average Joe who's hesitant to invest in BTC, just watches mainstream news media etc, even he admits the market is due for a crash. However, he has no idea the dramatic consequences this one is going to have. As soon as the big banks are not bailed out by the government, that's game over.

That will be 3Kg of fiat currency please...

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This image reminds me of the one on my recent post.. a gif of workers shoveling $USD into a fire as if it were coal - cough, shameless plug, cough ;) https://steemit.com/investing/@jobsande/the-best-investments-for-these-times-of-turmoil

The topic is relevant to this discussion as well since I acknowledge the "sky is falling" situation we're currently in, and describe how I've invested my assets in preparation for this.

Here's how I have it invested:

10% Cryptocurrency
15% Gold and Silver
20% Stocks
5% Lending Club
20% $USD

For more details, feel free to check out my post above :D

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In Venezuela they are currently paying this way... Lets just hope we will never see that here in the Western world, im just afraid we cant escape this faith...

Personally I would prefer more phizz silver and less stocks/bonds, but thanks!

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Yep, heard about that in Venezuela, of course let's hope it doesn't get to that but honestly I don't have much confidence in the system that it won't at some point in the next year or two, maybe much sooner.

100% Agree about the physical silver, actually in the process of buying more. I actually used to have much more in stocks, I'm dumping as much as I can now (out of my Roth IRA) but as a current employee, I'm stuck with very limited 401K options - in other words, that chunk of money has to stay in stocks and bonds as long as I remain with my current employer.

Incredible post @damarth! Nobody believes that poverty could be on us in a few months, youngest generation thinks everything is gonna be the same, supermatkets will always be provided with food and the banks will keep your savings forever...they haven't reallt experienced what a real crisis is, and this is about to happen soon. Buying crypto could be a protecting mean to save some of your assets! Thanks for sharing the info!

This makes me feel better that I live off-grid in Hawaii, no utility bills except internet. Water and electricity provided by the sky and sun. And since year round temperatures allow for growing food, got some vegetables and fruits and then eggs from chickens. If it really comes worst to worst in that regards.

I've been investing more of my money into cryptocurrencies to diversify. We'll see what happens with the world banks til then.

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I would like to be prepared as you are, in addition you have quality vegetables and eggs.
Just stock some food you can't produce (rice, sugar...) and you are very fine.

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Where you based out of?

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Rule #1 of prepping. Don't tell people you're prepping. And definitely don't tell people where you're prepping.

Always buy gold. It nevers hurts in long run.

Remember that If the crisis gets really bad even gold and silver won't help you.
As for cryptocurerrencys only after a crash and burn in the system will make digital money possible but under government control becaus
they have the guns and tanks.
At one point olive oil may be more precious then gold and silver.
The economy crisis may start after the German election next year. The fact that Macron was elected only postponed the crisis this means that the Europe crisis will be much worst.

I think that is why you will see the whole crypto currency industry sky rocket when another financial crash happens! That is why I am investing in cryptos and gold....Plus all investors should keep some money on the sidelines just in case for the rebuy back in after the crash.

UPVOTED and NEW FOLLOWER

Thanks for your upvote on my recent post. Means a lot specially when you are trying to get recognised in the community . Upvoted and following. My post is in hot and you are a part of it to make it their so thank you :)

Some great advice here. It is not a question of IF it is going to happen, but WHEN?

I think it will take 6 to twelve months. Dollar is getting cheaper and cheaper to keep people investing in the stock market. Every day a lot of new money is produced, which can be loaned against zero intrest. Bringing your money to the bank is not usefull, you will get no intrest. Keep your money where it is the best of right now; cryptos

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Exactly, we should help friends and family to protect themselves. Be able to produce electricity and vegetables , have a well could become essential aswell but it's harder (and impossible for all humans being) to get it in contrary to precious metals and cryptos :)

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absolutely my friend no vegetable no more us <3

scary stuff yet exciting! I believe literally most of things mentioned here. good post. followed!

Great article. Shared on twitter. Stephen

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Thanks a lot!

I can't wait for your next post :)

Good post. It's high time to prepare yourself before it's too late.

If we have the cryptocurrency we don't have to worry, I think just people that stock their dollar have to worry, if we know how to deal with the cryptoworld we will never be in crisis.

i follow u and also upvote..so,i think u also same with me...i invite u to come my blog and give me ur important upvote

Very informative post

yep this outline is why crypto willbe the currency of the future and its only a few bank seizures from becoming mainstream and why im investing so much time on steemit.

Very informative article, I know that the next financial crisis os going to come sooner than later.

Some pseudo-experts are saying that there won't be any more financial crises... LOL! How idiotic do they think people are? We may not know when, but it will happen, as it always has; the incredibly stupid and dangerous game banks are playing doesn't help. And when the time comes I'll be gladly holding my cryptos :D

This article is fantastic I've been going on like this for a long time to people I know, there is definitely a crisis coming no doubt and the bloody elite knows it, it could possibly be the biggest transfer of wealth the world has ever seen, cheers mike . Upvoted and resteemed

I try to wrap my mind around how things could be in the event of a crisis. I have all these plans but can never be sure when it comes to preparations. I'm always trying to conceptualize just what it would be like, but I've always been certain the day would come. The way the world economies are governed is nothing short of foolishness and can only go on for so long. Full automation isn't that far either, I guess about now, it comes down to which straw will be the back breaker.

Thank you! I am ready now!

Hyper inflation in America would make utilities be a luxury and drive a massive wedge between the haves and have nots. Running water and electricity are necessities in today's America and without those because of inflation would be worse than being without food.

Not only should we stock food but also look to learn about growing our own - thats an investment in itself!

Great post :)

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the image you post is very good👍👍

Enjoyed reading the post,totally agree with you about being prepared.
The next few years will be very unpredictable and anything could happen,so it's always best to be ready for anything.

lol, i began to hate banks since the first day i started using it

Great post! Lot of things to think about. 👍

I felt this way in 2008... :)

Great article and information :)

Nice article.

Just think if just 10% of the world's population put £100 into crypto currency the market cap and prices would rise, encouraging more people to invest and so the rise would increase and the decentralisation of banks would occur and bailouts would become a thing of the past... I for one am encouraging friends and family to put just a little aside and invest for the future - take control of your finances lets not make bankers richer!!

Indeed thanks for the article. The very reason Cryptocurrency is a good thing.

Woo.. what a beautiful post.. informative one!!

Thanks for the content. Up-voted and will subscribe. Please check out my Steemit. I've been anticipating this to occur for some time now. It seems inevitable. Sadly.

You got my vote and a resteem :]

I'm glad I discovered you.... Very educational.
P.S. I just followed you, can't wait to read more.

All common sense but constant reminders are needed . We may be closer then some are comfortable with .

Wow !
Great analysis my friend @damarth !! 🌸🌸
Interesting and realistic analysis, I totally agree with your view.
Government should apply some precaution and alternatives to save economy.
I became fan of you ,,,Folowed and Upvoted .

thank for information

Very informative post!

thank you for sharing with us my friend @damarth

We have a chance to make a difference now, starting with our own families. And, sharing the importance of getting out of debt bondage. I talk to lots of people who don't believe they are in debt, but they have a huge mortgage payment and maybe even a student loan. For some reason, the rigged banking system and consumerism has taught us that you're okay as long as you can afford the payments... big fat lie #1... or that you shouldn't count your home as debt cause it's an asset... big fat lie #2 (it's still debt)... or that it's okay to get massive amounts of debt for education because it's an investment... big fat lie #3... there are no guarantees you'll get a job in the area of study. So, thank God for this new information on crypto and Steemit. I see bright light at the end of this tunnel for me and my husband. So incredibly grateful for you all!

I recommend "The Road to Ruin" by Jim Rickards. He writes about the planned bail ins. Theft on a monumental scale.

great

Thank you @damarth

The economic and monetary crisis, in the future, will probably strike some of the language you mentioned. And, that's bad for middle business people, not upscale.

For example, in an unfamiliar country, developing, like Indonesia. After the moenter crisis in 1998, did not recover until now.

Before the crisis, the Rupiah currency stabilized at 3500 per 1 USD. But after the crisis, it dropped to 20000 per 1 USD, and until now stopped at 13000 per 1 USD.

Indonesian debt is also added annually, more than one billion USD per year.
So what is the feared crisis going to happen again, and which country will suffer the most?

nice post ♥
Support me ♥ @haji

Hello Steemians seems my country is also affected at the time, As reported from the following link: https://www.indonesia-investments.com/en/culture/economy/crisis-finance-asia/item246?

At the time of the crisis in 2008 hit, Indonesia was re-exposed large capital outflow but able to guarantee a stable economy because of good economic fundamentals. Even during the 2008-2009 crisis Indonesia showed strong growth with GDP growth of 4.6 percent mainly supported by domestic consumption.

But corruption scandals in Indonesia still continue to fill the pages of newspapers. Corruption and grouping of capital in a group of small elites is still a serious problem in the country and can hamper efficient, good and equitable economic growth. Particularly political corruption is widespread and often politicians use to seek profit in the national business sector.


This is very interesting for us to talk about, so, my question will be a similar event will also return to the world? Please respond, I hope we will continue to be able to communicate through this steemit community ..

Great post Damarth , I hope this Virtual Coin technology become better and better and help all the people in their way to have a better life. not just a good thing for making rich people richer.

@damarth, I am proud of the upvote you gave me, I am so glad, thank you for the great

Definitely food for thought.
The last recession didn't treat me too kindly :/
I'm working toward a debt-free life!

Very good article. The stat I am looking for which is similar to most inflation experienced by country is most consumer debt by country. I believe we are experiencing large inflation not as much in assets (it is occuring here) but in consumer debt. People pay 12% more on their purchases because they have it charged to their credit cards.

I like post and nice post

Helpful post. I'm from the Philippines and I know that we will be affected when inflation happens. Why? Because we rely so much on other countries. Hopefully the inflation this time won't be too harsh like last time. I will do my best to invest in crypto currencies and save some money in the bank. Better be safe than sorry.

Great post . And please upvote me.

I guess this will happen sooner than later

better be ready than sorry
like the advice convert money to digital currency as it is a safe place than banks in certain times
and as for the crypto market coins will never let us down i guess

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Sweet article, restores my faith as I have gold and silver , but in storage . Need to get a few pyhsical ones and keep buying crypto

Hello Friend ! Thanks for stopping rated my blog! I'm very glad that you took pictures of me! good luck to you !

buen post, ya te sigo, sigueme espero tus aportes en mis post, saludos...

Great Post

This is all new info to me.

When do you think the crisis will hit?

thank you for your vote, really appreciate:)

Enjoy @nature.art !

I have been predicting the crash for a while now and while I am slightly wrong about the time, I am still quite sure it is coming and the PLUS side is that I am prepared and have had EXTRA time to prepare as I thought it was happening sooner than it is.

Thanks for keeping people informed! Its gonna be CRAZY!

Great Post .. .. .. Incredible post @damarth ..... You have a lot of interesting content there

Hey thanks for the vote of support!
I really appreciate it and it helps a lot of other people!
My photo today is a great example of being PREPARED and self reliant in matters of great importance FOOD SOURCES!

Best Regards~*~

Yes great post !! Its pretty frightening to see people being sucked back into the sleep zone since 2008 and when this bubble bursts there will be no quick fix ad the car will leave the road !! So yes be prepared !! upvoted @damarth !

Damarth can you make a choice between silver and cryptocurrency ? or % each?

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Hello, no universal answer, always depend of your financial situation, risk aversion, trading skills... As default 10% of your assets should be in precious metals. It will protect you in case of systemic crash, war or hyper inflation.
I would not advice to go over 30% of portofolio with crypto if your assets represent more than 1 year of your wage, crypto are very volatile and speculative, you should never risk your life saving in such volatile market.

Invest well, diversify and hold strong :)

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Here's a helpful comment @damarth

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Thx for the advice... I made some stupid mistakes in the beginning of crypto.. but I found Steemit because of my crypto journey..

Nice and i leke you post @damarth

Hello @damarth,
Can you please do a update post on STEEM and the new SMT tokens.
I can't wait to hear what you have to say about it.
Hope your doing well.