Crypto as a way to staff off grid but easily be able to hold cash

[Bacchus]

That's interesting. That suggests it might be better to invest in collectible gold coins instead of bullion coins, provided collectibles are again exempt from confiscation.

 

[Alexx1401]

That's interesting. That suggests it might be better to invest in collectible gold coins instead of bullion coins, provided collectibles are again exempt from confiscation.

The only thing to be careful of is just because they did it once does NOT mean they will do it again. This great hoax showed law makers just how far they could go and people would just take it. If they decide to take gold again they could EASILY just say give it up or else no matter what form its in. Its all in how far people are willing to let them go. So far the masses have showed law makers they will lay down and do as they are told sadly.

 

[Cavedweller]

That suggests it might be better to invest in collectible gold coins instead of bullion coins, provided collectibles are again exempt from confiscation.

That is a sales pitch used by dealers in colectible gold coins. However, you have to consider the considerable premium over the price of gold you would pay for collectibles.

 

[Bacchus]

I agree with all of the above. Normally for typical wealth storage purposes, I prefer bullion. No point in paying three times the gold value if you are in a scenario where nobody cares about collections. I get it that just because the government allowed collector coins before doesn't mean they will do it again.

 

[Longwalkhome]

I don't believe that.

$30 trillion in debt and no slowing down, it's about done.

 

[CamoDeafie]

$30 trillion in debt and no slowing down, it's about done.

Once the US dollar lose its status as the most popular reserve currency in the world.... yeah.
Things will come crashing down globally, with 5 U.S. Territories, 7 sovereign nations (including the US) having the Dollar as the official legal tender, and the 65 nations who peg their currencies to the value of the Dollar.

Edit. Actually, the event where the US dollar lose its world reserve currency is very likely going to either start, or ends from a global war, a true WW3; not the little petty saber rattling/ME adventures but a massive global campaign against the US

 

[Longwalkhome]

Once the US dollar lose its status as the most popular reserve currency in the world.... yeah.
Things will come crashing down globally, with 5 U.S. Territories, 7 sovereign nations (including the US) having the Dollar as the official legal tender, and the 65 nations who peg their currencies to the value of the Dollar.

Edit. Actually, the event where the US dollar lose its world reserve currency is very likely going to either start, or ends from a global war, a true WW3; not the little petty saber rattling/ME adventures but a massive global campaign against the US

We are printing to pay the interest on the debt , a debt we can never pay yet we borrow trillions more. It's a kind of economics that only governments can do, rob the treasury and print up all you want to spend and have the Fed as the middle man to say we are all good.

When we crash the world will go to the CCP version of currency, the renemnbi. Simply because with the reset communist will run the world.

 

[Bushman]

lol with any type of monetary system disruption or collapse of any sorts the beans and bullets will actually be worth something. Your millions will just be post-it notes without the sticky back.

Ummmm….read my post again. Nobody said anything about a monetary system disruption but you and your fantasy of world collapse…where you think you're rich because you can afford beans and bullets.

I said crypto is a way to hide and smuggle assets.

Hint, if I have the money to own multiple houses and crypto, I probably also have beans and bullets, they're not mutually exclusive…critical thinking 101…

 

[ilostmypswrd]

Gold will always be king if there is a global meltdown, I try and buy about 15k every year, mostly Maple Leafs and Krugerrands, also some Swiss 1oz gold bars, it has only ever gone up it price, I wanted to get into crypto but just could not wrap my head around how nothing is worth something????? It now seems to be tied to the main money markets and stock markets, its day traded just like any other futures.

 

[Longwalkhome]

Gold will always be king if there is a global meltdown, I try and buy about 15k every year, mostly Maple Leafs and Krugerrands, also some Swiss 1oz gold bars, it has only ever gone up it price, I wanted to get into crypto but just could not wrap my head around how nothing is worth something????? It now seems to be tied to the main money markets and stock markets, its day traded just like any other futures.

Who sets the price on PMs?

 

[CamoDeafie]

Right now, the Chinese Yuan is the 8th most traded currency, with a large market share, yet as a reserve currency; its still only 2.5 per cent of global foreign exchange reserve holdings. China's Yuan has a long way to go before it usurps the US Dollar as the "world's Reserve currency"and is facing stiff competition from the Euro, Japanese Yen, British Pound Sterling, Canada and Australian dollars.

The Renemnbi is the Chinese domestic currency. For trading purposes and reserve currency, its still the Chinese Yuan that's used, apparently.

 

[Longwalkhome]

Right now, the Chinese Yuan is the 8th most traded currency, with a large market share, yet as a reserve currency; its still only 2.5 per cent of global foreign exchange reserve holdings. China's Yuan has a long way to go before it usurps the US Dollar as the "world's Reserve currency"and is facing stiff competition from the Euro, Japanese Yen, British Pound Sterling, Canada and Australian dollars.

The Renemnbi is the Chinese domestic currency. For trading purposes and reserve currency, its still the Chinese Yuan that's used, apparently.

CCP is pretty smart to have two currencies, that way the globalist can't control them. Use the Yuen for international trade and if it fails then China's people still has a working currency, the Renemnbi.

Old history but in 1971 Nixon took us off the gold standard with a promise it wouldn't hurt the dollar. 40 years later the dollar was only worth 19 cents compared to the 1971 dollar. That 19 cents has been losing more every year since then, how much is our dollar worth compared to the 1971 dollar now?

 

[CamoDeafie]

In 1973, the Bretton Woods system of fixed exchange rates was basically abolished, putting exchanges into floating rates. According to the IMF ( ) the US Dollar was "overvalued" when it was fixed to gold values.

Edit. This helped China more than it hurt the US dollar. Crypto was seen as a potential replacement for the Dollar but........... its too unstable at the moment.

 

[Longwalkhome]

In 1973, the Bretton Woods system of fixed exchange rates was basically abolished, putting exchanges into floating rates. According to the IMF ( ) the US Dollar was "overvalued" when it was fixed to gold values.

Edit. This helped China more than it hurt the US dollar. Crypto was seen as a potential replacement for the Dollar but........... its too unstable at the moment.

Greatest robbery perpetrated on the world was to allow derivatives to be used as financial instruments. When anything could be called a financial instrument its an open door to theft.

What backs a crypto currency, not a thing, not even paper yet its being sold the way the tulip trade was in that someone tells you crypto is of great value. It is but only for the seller.

$30 trillion in debt and 8.5% inflation, we don't have much time left.

 

[CamoDeafie]

Greatest robbery perpetrated on the world was to allow derivatives to be used as financial instruments. When anything could be called a financial instrument its an open door to theft.

What backs a crypto currency, not a thing, not even paper yet its being sold the way the tulip trade was in that someone tells you crypto is of great value. It is but only for the seller.

$30 trillion in debt and 8.5% inflation, we don't have much time left.

Treasury bond yields are still "over 0%" but there's the issue of inflation as you say. If there's a massive "cash out" of treasury bonds? Then the american economy is done. So far officially, the economy is "looking strong for 2022" and the GDP is "looking good" never mind that people are losing jobs, security, homes, never mind that credit companies are tightening their policies, never mind that the job market is way off...

 

[Longwalkhome]

Treasury bond yields are still "over 0%" but there's the issue of inflation as you say. If there's a massive "cash out" of treasury bonds? Then the american economy is done. So far officially, the economy is "looking strong for 2022" and the GDP is "looking good" never mind that people are losing jobs, security, homes, never mind that credit companies are tightening their policies, never mind that the job market is way off...

Common sense mixed with history give a far better truth than what we are told. Simple comparison tells us what has real value over what we are told is a value. Is crypto a commodity or a physical property that can be used for something or consumed? Yet those who work day and night to separate folks from their wealth useing fear and greed as a tool are selling crypto.

Fear and greed are great tools, it's what runs America now.

 

[CamoDeafie]

Common sense mixed with history give a far better truth than what we are told. Simple comparison tells us what has real value over what we are told is a value. Is crypto a commodity or a physical property that can be used for something or consumed? Yet those who work day and night to separate folks from their wealth useing fear and greed as a tool are selling crypto.

Fear and greed are great tools, it's what runs America now.

Any, and everything can be monetized, used to make money and used to create "income". Look at Non-Fungible Tokens (NFT), its basically the art world tied to cryptocurrency and just as meaningless to those who deal in physical goods and services, but its apparently an excellent way to create "wealth" and monetizes nothing physical.

 

[Longwalkhome]

You can sell a feeling, folks buy into amusement all the time. I guess crypto is a feeling of sorts.

 

[JustShoot]

When we crash the world will go to the CCP version of currency, the renemnbi. Simply because with the reset communist will run the world.

In a total Communist run world . How does one own the Renennbi or even property of any kind ?
In a Communist run world, you only have what the government gives you . If you have something in your possession the government did not give you . Then that is all the proof needed, to prove you stolen it from the government .
.

 

[RicInOR]

If you have access:
Post: https://www.northwestfirearms.com/threads/political-content-megathread.353176/post-3226432

other threads:

Bitcoin

So I follow the financial markets and Bitcoin has had a lot of headlines lately. Every time I see one I get a bit irritated. Not that long ago I read a bit on Bitcoin and decided I would buy some. At the time they were trading for $24 which considering they were trading for pennies just a...

www.northwestfirearms.com

Bitcoin ?

Other than often wishing I had worked harder to drop a C note on this stuff many years ago, never paid much attention to it since it got "mainstream" so to speak. So when I ran across this news story the last line got my attention. That the supposed "crook" would not give up his password so the...

www.northwestfirearms.com

Doge Coin anyone?

Any other hodlers on NWFA???

www.northwestfirearms.com

Plus various other posts scattered about.

The first thing I'd have to ask is, why is this a concern?

Not picking on CaveDweller - it's a valid question.

Since it was asked, Canada has frozen the accounts of many people - Convoy donation related.
The USA has frozen the accounts of individuals associated with Ukraine crisis.
Other transfer agents have shut accounts - Visa / individual banks / GoFundMe

For a WROL / teotwawki - that becomes a different problem when we have no internet.
More likely is our government "seizing" assets.
""You bought an 80% lower. We are freezing that account while we investigate you. ""

I don't know if BitCoin itself will be the major player in the future.
I do believe something based upon BlockChain will be. Or, several somethings. May need some for real property, another for daily money etc.


How do you record ownership?
BlockChain is a technology that can do that.
How can you know ownership in a 3rd world country? If they have cell phones -- which most places now do.
2 stories I have knowledge of:
- 1 buddies dad bought a house in Mexico to retire to. After 30 some years, the powers that be said, nope. That land was never the developers to begin with, and it lost it. A database could have tracked that in near real time.
- 2 My aunt and uncle bought a house. When she passed, a quick claim deed was executed and it was in error - wrong lot number. When my uncle passed, the error was perpetuated. Then when my dad passed, I went to sell and it popped up, blocked a sale. Again, that could have been caught in a BlockChain database.


I would not use "crypto" to invest.


edit:
How do you pay for things today? I get that the average age on the board is, um, old. And it might be fun to watch Denis Collins and Richard Rawlings open up wads of cash to pay for cars. But really. How often do you use cash? I use a card for gas, groceries, lunch. I am electronic to pay my electric, gas, water. The problem here is that my bank and/or visa can "seize-up" that is restrict my use at any time.
I had a friend to was getting out of debt and paying down loans. The bank decided that her available credit was then too high, and reduced it. Screwing her over - out and about needing gas and you can't. Because.


I encourage you to study and get familiar with this technology.

Is it ready for prime-time?
( We may not have a choice. )