RE: Illusory U.S. Economic Boom as World Economies Fall
Interesting read, can’t believe some of those currency drops... it’s a bad situation in Venezuela, I hope something can be done.
Do you really think the banks could hold or take our money/savings away? I know it happened in many places, Greece for instance a while back where they couldn’t access their money. Could that happen in the uk or USA I wonder? I know people go crazy everywhere but imagine the riots in the uk. However, most of the riots in uk end up with vandals just stealing and damaging everything, most of whom don’t have financial assestsnto worry about loosing. Still... if the bank took my money I wouldn’t know what we could do?!
I would love to put more fiat into crypto, but crypto is way more volatile, unless I had it all in tether... but then when a rise comes it will be worth nothing. Crypto is great but not for all of our assets surely..? Due to the crazy fluctuations we see. A few months back everyone thought a boom was coming, unless that’s waiting for December/January again...
Take some dollars and put them into crypto while they are on sale. Forget about the volatility. In fact, forget about the cryptos and then look at them again in 5 years. I'd bet a big some of money that if you choose from the top 20 cryptos by market size you will see 100X your money in 5 years. The world is changing and blockchain is going to be driving this next global tech revolution. I'm deep in the weeds on blockchain and cryptos. I'm buying my favorite positions with all of my monthly cash flow. I've seen the future. In January, one of my positions was up 750x! Buy small positions and forget about them. This way you won't worry about volatility.
People may riot a bit, but police will smack them down. You can't take money even if you break in, as it's all digital with only a little reserve to pay out in liquid cash. If people tried to take it out at once, the whole bank would fail from being insolvent.
Crypto may not be a dead-ringer solution indeed... It might flop and go down with the hype over :/ But in maybe 5 or 10 years it will be a whole different story relative to the existing financial system...