Does anyone else see an economic crash coming?

[poltiregist]

We have already fallen off the financial cliff . At this point regardless who may be in control we can not regain solvency . All we can do at this point is to prepare for a Venezuela style squaller . Like the people now caught up in the economic collapse of Venezuela , some are better able to endure the self created collapse than others . Preppers can position themselves to be on top of the mess , that we are already descending into . The good old days are gone forever .

 

[GeorgiaPeachie]

The good old days are gone forever .

After the collapse we might be able to actually turn this country BACK to the “good old days”. Our collapse will be much more violent than any other, but I do see like minded Preppers who are sticking together making it out the other side.

 

[Dave2001]

TRUMP has the balls to do something about our problems, at least he does what he says he will. WE need someone with guts in charge!!!!

 

[Dave V]

Gold just crossed the $1900 mark whatever that might indicate

 

[Dave2001]

Gold just crossed the $1900 mark whatever that might indicate

whats silver doing?

 

[andrewOz]

whats silver doing?

 

[Proud Prepper]

Move your investments to tangible assets. A decent article for some ideas.

https://www.truthandaction.org/tang...se-value-in-the-event-of-monetary-collapse/2/

 

[DrHenley]

Move your investments to tangible assets. A decent article for some ideas.

https://www.truthandaction.org/tang...se-value-in-the-event-of-monetary-collapse/2/

Explain this
First it says: "The best way to ensure future safety in uncertain times is to channel electronically stored savings into durable, tangible assets."
Then is lists under "Things of real value" a bitcoin wallet.
If a bitcoin wallet is not "electronically stored savings" I don't know what is!
I think that should be listed under " Things that will be (mostly) useless in an apocalyptic collapse"

 

[Schattentarn]

Bitcoin is dependent on the internet. Without the internet, your money is a rumor.

 

[Helen Back]

Move your investments to tangible assets. A decent article for some ideas.

https://www.truthandaction.org/tang...se-value-in-the-event-of-monetary-collapse/2/

TLDR, did it say a harem of *** dolls? If not, it should. Oldest profession for a reason. Also, stock up on alcohol, both kinds.

Your welcome

 

[campandtravel]

That is not communism, it is a dictatorship.

You can't have communism without central authority. Someone has to decide what the others' "needs" and "abilities" are.

 

[campandtravel]

Bitcoin is dependent on the internet.

False. The internet just makes it easier, which is true of a lot of things.

 

[campandtravel]

Explain this
First it says: "The best way to ensure future safety in uncertain times is to channel electronically stored savings into durable, tangible assets."
Then is lists under "Things of real value" a bitcoin wallet.
If a bitcoin wallet is not "electronically stored savings" I don't know what is!
I think that should be listed under " Things that will be (mostly) useless in an apocalyptic collapse"

It is electronically stored but it is distributed so the whole world would have to be blacked out for Bitcoin to disappear. If you have your keys on a USB and you make it to an area where there is an active node, voila!

It remains to be seen if Bitcoin will be useful in a future crisis. It's done well in some crises but who knows what crises are coming and what will happen to bitcoin when it does? I'm not recommending bitcoin. I'm just answering the question/correcting the point.

 

[Helen Back]

Hey fam, look at the lunch box I just scored.

 

[Schattentarn]

False. The internet just makes it easier, which is true of a lot of things.

OK, the school me. When SHTF and the electricity goes out, my corner gas station will use its generator to pump gas. How do I pay for it using bitcoin?

 

[Dave V]

I've never tried, but I don't know if they'd take our gold coins either? They may be more inclined to take cans of Campbell's soup?! (I think I would!)

 

[Mountain trapper]

Gold is $1894 and silver is $23.77 right now. I think everyone should hold a percentage of their investments in PM'S, as much as one can afford. Right now I think gold is too high but silver is still "reasonably" priced. Gold and silver will always have value, long after paper money rots away and this electronic money fad goes away.

 

[Dracos]

My primary tangible asset is land. That should be every prepper's priority. Land and the means to defend it and the tools to work it. Gold and silver will always have value. Cash, credit cards and crypto depend on faith. Faith in a system that may fail.

 

[DrHenley]

If the PM markets were free markets, silver would be $50 an ounce or more.

 

[Schattentarn]

My primary tangible asset is land. That should be every prepper's priority. Land and the means to defend it and the tools to work it. Gold and silver will always have value. Cash, credit cards and crypto depend on faith. Faith in a system that may fail.

Good point! This is especially true for Americans and Canadians. Land is expensive in Europe as compared to North America. Famous German Attorney Reiner Fuellmich has a ranch in California.

 

[campandtravel]

When SHTF and the electricity goes out, my corner gas station will use its generator to pump gas. How do I pay for it using bitcoin?

So now I know you're approaching this argument dishonestly. Meaning I probably shouldn't bother to go on but I like to give people second chances. The list you're kvetching about didn't say Bitcoin would be useful as money for small purchases in a crisis. It said it was a "tangible asset."

But anyway it would be a boatload easier to buy gas with bitcoin in your scenario (where there is a generator on-site) than to use, say "museum-quality art". Unless this gas station also has a resident art appraiser? And did you want to trade your "Night vision equipment" for gas? I mean, maybe, but again the article wasn't talking about money for small transactions but tangible assets.

Definitely if you were going to buy a large piece of property, the art could be useful. Bitcoin even more so.

Want to understand how? Maybe to stop assuming you already know would be a good prelude?

OK, the school me.

Perhaps I will. What's the magic word?

 

[campandtravel]

My primary tangible asset is land. That should be every prepper's priority.

Agreed. Finding and buying it is not exactly easy though.

 

[campandtravel]

crypto depend on faith

What does crypto require faith in?

 

[Mountain Dragon]

All these cryptocurrencies are nothing more than highly speculative fantasy values without any real countervalue.

- No stability, their "value" changes by every second.
- No countervalue, OK, other currencies dosn't have something stable anymore since the gold standard falled, but there's absolutly nothing around except some data on the internet.
- Nothing physical, all is only some theoretical bits and bytes.
- Works only by internet.
- Can't pay any bills with it.

In my eyes cryptos are less than an weekend in Vegas: speculative, non-realistic, phantasy with an big chance to lose your money - just without a free drink and watching the ****s of the showgirls.

 

[Digout]

Without electricity, no computer, no internet.

No internet, no cryptocurrency.

 

[DrHenley]

But anyway it would be a boatload easier to buy gas with bitcoin in your scenario (where there is a generator on-site) than to use, say "museum-quality art". Unless this gas station also has a resident art appraiser? And did you want to trade your "Night vision equipment" for gas? I mean, maybe, but again the article wasn't talking about money for small transactions but tangible assets.

If there is no Internet, with no means of synchronizing nodes, I see a serious problem.
What's to keep me from making multiple copies of my wallet and spending the same bitcoin on every local node?

Try trading the same piece of artwork multiple times. You can't because it is a physical asset that can't be digitally duplicated. With artwork, value is in the eye of the beholder. In a barter economy, you aren't always going to be trading at a set value. You may get a lot more or a lot less than what the normal appraisal value would be. It's all a matter of whether your piece of art is worth more to the person you are trading than what you want from him. A cow for a Rembrandt? How hungry are you?

 

[Schattentarn]

As I mentioned once, I already talked to my local gas station owner about a SHTF setting. I asked him if I would go to the front of the line with silver dollars. He answered in the affirmative. Thinking some small retailer in a sparsely populated rural area is going to take bitcoin when SHTF is just about the most fanciful thing I have ever heard.

 

[Dracos]

The power was off this morning. No problem for me. 3 degrees F. Crypto currency is a scam. If the power goes our so does it. If you paid for it with cash that is where 2 fools met. The sellers are out because you paid with very expensive toilet paper. At least they can wipe their butts. Hold crypto in one hand and poop in the other and see which fills up first.

 

[campandtravel]

If there is no Internet, with no means of synchronizing nodes, I see a serious problem.
What's to keep me from making multiple copies of my wallet and spending the same bitcoin on every local node?

I wrote a long answer but I realized I would be wrong to post it all. Maybe if you come another step or two.

You're right that if you can't sync nodes you have a potential serious problem. But you also made the assumption that you need the internet to sync nodes. If you separate these and start thinking about solutions, even the very obvious ones, I'd be happy to help brainstorm that with you.

 

[campandtravel]

Thinking some small retailer in a sparsely populated rural area is going to take bitcoin when SHTF is just about the most fanciful thing I have ever heard.

I agree. Which is why I didn't suggest it. It's also why that article didn't suggest it I think. Seems that you haven't read either.