The Coming Collapse of Fiat Currencies and the Return to "Legal" Money
The value of fiat currencies has been steadily declining compared to that of legal money, which is, has been amd always will be gold and silver. Despite this, central banks, governments and the like will have you believe that "fiat" currency is the only form of money that matters. In reality, legally gold and solver are still considered money, while currencies are nothing more than a form of credit, an I.O.U if you would. Hopefully today, I will explore why the major western central banks are likely to embark on a new round of currency debasement, leading to the inevitable collapse of fiat currencies and the return to sound legal money.
Central to this idea is the sharp contraction of commercial bank credit in response to rising interest rates and bond yields. American banks are already starting to collapse in greater and greater numbers!! This contraction will end the everything bubble in financial asset values, and will begin to undermine GDP globally. Given record levels of balance sheet leverage, a major banking crisis is virtually impossible to avoid and the banks that have already fallen by the wayside are just the tip of rhe crisis iceberg. Central banks, which are already in a parlous state of their own, will be tasked with underwriting the entire credit system. Enter the world of banks that are "too big" to fail...... Now where have I, or more to the point, when haveni heard that before?? 2008/09 anyone!?!?!?
As central banks discharge their responsibilities to the status quo, they will inadvertently destroy their own currencies. The public will eventually realiae that legal money is more valuable than the declining currencies and will revert to using gold and in my opinion silver, as a form of currency. This realisation is being brought forward rapidly by current events. As much as the precious metals markets are manipulated, they continue to climb in value, and i predict a new ATH for gold in the next 2 to 3 months. If thays not an indicator of just how bad this have gotten, rhen i do t know how else to convince you.
It's time to recognise that fiat currencies are not sustainable in the long run, they never have been and never were. Its one giant ponzy scheme designed to eventually collapse. Legal money, tangible money, inflation proof money, gold and silver kkney should be considered the only true store of value. We must prepare ourselves for the coming collapse of fiat currencies and the return to legal money as the only viable alternative.
If you dont own any precious metals, then why not tell us? As a community we encourage ALL engagements and encourage everyone to take the plunge and own at lease a sinlge ounce of silver or a fraction of gold. If youre struggleing to find a safe and secure place to buy, reach out to the community as there is always someone willing to offer their time and advice to help you out.
40+yr old, trying to shift a few pounds and sharing his efforsts on the blockchain. Come find me on STRAVA or actifit, and we can keep each other motivated .
Proud member of #teamuk. Teamuk is a tag for all UK residents, ex-pats or anyone currently staying here to use and get a daily upvote from the community. While the community actively encourages users of the platform to post and use the tag, remember that it is for UK members only.
Come join the community over on the discord channel- HERE
Want to find out more about gold and silver? Get the latest news, guides and information by following the best community on the blockchain - #silvergoldstackers. We're a group of like minded precious metal stackers that love to chat, share ideas and spread the word about the benefits of "stacking". Please feel free to leave a comment below or join us in the community page, or on discord.