Historically gold gets confiscated when the poop really hits the fan. So if you buy physical you have to bury it in your back garden, considering the modern surveillance state they will know you bought it and come looking for it, and if you can't produce it, it's jail time. 10 Years last time.
Load up on the Vodka, people will do anything for booze, and various crypto's, plant some food.
And crashes are a bit like the second coming of Jesus. Will only happen when no one is expecting it. If it's in the media not going to happen.
Safest is probably cash actually, at home, not in a bank (bail-in's are now legal in the entire western hemisphere). For a short period of time anyway. Long enough to buy some equities sitting at 20% of real value after the dust has settled and the raiding of bank accounts are over.
I wouldn't bet against the fed mate. This charade can last much longer than your trading account can.
Quite a few billionares have now publicly said they don't really know what to do either. There isn't really a place to hide. I'm hoping that FX will be ok, but when the banks go there might be no FX either. Thing is there is always a system, no matter how tough it gets.
So, as I said, garage fulll of booze, some crypto's and a garden full off edible plants. The one thing that isn't going anywhere is the internet. So I suspect this might be the moment the Crypto's get their break.
That unit is tradable, you can transfer it (mail or message) to someone else. The record is kept on the internet. It's a peer-to-peer system where peers decide the value of the unit.
Looks just like a crypto to me without the ledger system for now. But it won't last long till someone incorporates that.
I get this often actually. ' I want real money, not something living in the internet, what happens when the electricity goes off? ' Then I can't get to my Bitcoins...
Indeed what does happen when the electricity goes off ? ATM doesn't work either. Banks can't issue money since they can't track it. Government can't print any either. Heck, sounds a lot like a crypto doesn't it ? Like it or not, all money now days is just data in a system. The only difference is who owns that system.
I don't know about you, but I am getting really tired of people punching buttons and then suddenly they own my whole life. If all of us can decide at once to tell them to go stuff their useless money and transacted peer-to-peer only all our problems would disappear almost instantly. No one would have to sell their time for less than the next guy and no one is going to donate money to war.
Crypto's are here to stay and they're going to transform our society in ways we can't even begin to imagine.
It's in it's simplest form programmable money, or put another way, a programmable contract. Something long overdue.
My dislike for crypto's and especially bitcoins is that when they came out, barely anyone cared (allowing the pioneers to mine more easily). Then when everyone started to get in on the action, bitcoins increased heavily in price and pioneers got really rich(not because of hard work and intelligence). Don't worry I know this is economics 101. When everyone one starts buying. PRICE INCREASES.
But I'm ok if that happens to shares and other financial derivatives, just not currency which everyone has to use. It wouldn't be fair to others who might be a bit slower to adopt the crypto's.
So basically, I'm a bit jealous I wasn't one of the first bitcoin people ;)
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