Money, money, money...
What is money today? Where is your money right now? Will your bank seize your money?
Money is 000s and 111s inside an algorithm that is run by your bank in concert with the Central Bank. Fine. Under what circumstances can the Central Bank Regime that rules your local bank take all your money? The answer to that question is unclear. But... As the global debt levels rise and rise and rise while economic activity falls and falls and falls the odds increase that your local bank will seize your share of all those 000s and 111s.
The coming debt and economic crises will move your money from your account without warning. If you do not think this can happen look at examples of this theft that have already occurred around the globe this Century [Cyprus circa 2012-2013]. In Cyprus people could not access their funds through ATMs; and eventually, their accounts were frozen until the EU bailed-out the local banking system. Could this happen to you? You better believe it.
Here is the rub... Buying silver or gold is not the answer because even if you have small amounts of these commodities you will find that it is not as liquid as money and does not work well as an alternate source of purchasing power. Bitcoin is useless for such transactions so while it might rise in nominal value [US$100,000 to 1,000, 000] sharply it is not a real substitute for money at the Supermarket.
If we have a bank bail-in, and economic turmoil, then people will probably welcome a Central Bank version of digital currency [a government substitute for Bitcoin]; but be careful what you wish for. We have seen what happened with government mask/vaccine mandates during the Covid-19 pandemic. In this case the government will become our bankers and money will be replaced by digital codes.
Are you looking forward to this outcome for your money?
Richard.
Comments