Let's Get Ready for HYPERINFLATION, Americans!
Holy sh*t the US dollar got crushed today! How can we respond to a failing currency in this turbulent time?
Take a look at the Russian Ruble, it's slowly rallying compared to the dollar as it's been all year.
Gold has had a very good day today, rising 1.65%. Bitcoin rose 4%!
I think Bitcoin will be of more value than gold this time. It's a brand new asset class being well integrated into the financial system, whereas most people don't even know how to use gold. Storing coins that you can't use in stores nor send worldwide instantly? How primitive.
Of course you can always use GoldMoney, essentially precious metals on a debit card, but then you're attached to the banking system which is almost guaranteed to go down.
So Bitcoin has had its few weeks of relative stability and it looks like it's ready to go up. Keep in mind too that other fiat currencies are failing around the globe too, and their easiest alternative are cryptocurrencies. This is giving the effect of Bitcoin rising faster than gold ;)
And when the US collapses, the other countries will begin to thrive and the center of power will shift towards the east. Foreign stocks would not only hedge, but bring income!
You can also hustle it hard on Steemit like many of the 70+ reps have done for years.
Being a new investor (as with many of us), cryptocurrency has been very straightforward compared to all the paperwork needed for stocks, and additional tax documents for the foreign ones. Perhaps you'll want to start looking towards that sort of diversification, as long as you're fine with the drop in liquidity.
Remember to be smart and not shove all of your capital into the crypto space. But also conduct your own research because I'm not a financial advisor and this isn't financial advice. 🙃
