conversation about collapse of fiat currency and gold/silver vs bitcoin

[GIJEW]

https://soundcloud.com/user-7925391...bitcoin-a-rival-to-gold-silver-w-david-morgan

Morgan made an interesting comment at the end of the interview about "boomers" having a distorted materialistic sense of "value" as opposed to valuing human experience. He said that determination of value was going to get rearranged in the fall-out of a currency collapse...whenever it happens

 

[tsm]

“Safari cannot open the page because the address is invalid.”
????

 

[Phase2]

I was able to open it in Firefox.

 

[Dosproduction]

Sorry to tell em but if the currency fails it's going to be a desperate grab for material items seeing as most people will be starving in Q lines. But best bet is to stock up on non perishables now. Salt, bleach, stored staple foods, etc....
physical silver and gold will beat inflation but you still won't be able to buy necessities since none will be available. Also most likely price controls will be put in place which will make everything unobtanium. But this country is a powder keg that is armed to the teeth, there might end up being a lot of street justice distributed after a currency failure.

 

[Phase2]

The two basic arguments are that gold/silver and possibly crypto are wealth insurance and non-censorable. In the end, you can only use so much stored food/water/etc. If you don't have much, then invest in those items as they are for more immediate needs. If you have more, then after filling those basic needs you should look at other ways to protect yourself and your wealth.

Eventually, society comes back in some form and those items will retain value no matter what the day-to-day currency is called. Also, if you are locked out of the system because you are not compliant (trivial to do with centralized digital money), then you still have a means to transact and buy what you need.

 

[GIJEW]

There's truth to both your opinions and it's not clear that in the end either position will end up being "right"

True, you can't eat metal and in the middle of a crisis food, ammo, etc will have more immediate importance. Relative to how many assets you have, how much food and ammo can you store and can you take it if you need to bug out?

True, gold&silver are an end run around digitalized currency but what if desperate .gov tries to pull an "FDR" and fix the fed's balance sheet with privately owned gold, silver, and whatever else they see fit to nationalize? Will people be willing to trade for something the govt has declared to be contraband? They'll be sure to seize the sales records of vendors along with their stock. As for making change for a gold coin, we could do like the 3 stooges and cut it in half :-)

I don't see an alternative to taking both approaches (I suppose we're all doing that). May G-d save the country from the leftists and cast a decisive vote on tuesday...and then help us with the rest of our problems

 

[smokingman]

Just my opinion but quantum computers will make all digital currency worthless.

What would take a super computer years to hack a quantum computer could do in a few minutes.

No wallet or form of digital currency could ever be secure.


Silver and gold both have real world uses and value.

 

[CampingJosh]

There are several fiat currencies now that would all have to fail for me to think that we'll actually go back to a gold standard. Dollar, Euro, pound sterling, yuan, and probably even yen and riyal.

The value of everything rises much quicker than the rate of increase in the supply of precious metals. We don't want a currency pegged to anything with a fixed supply.