Thanks for such a good articled on this , to add to that I would say with current CONTROLLERS and their intentions , how can ANYONE believe they will allow or accept or NOT HAVE CONTROL OVER ANY SYSTEM they replace the current collapsing one with .THEY are not backing down from CBDCs at all , what does that say ? QFS is just another of their scams , nothing in the digital world is safe , the military still has the CLIPPER CHIP that can shut is all down , and all those blips in computer disappear. THEY already have the tangibles , the resources , trillions in tax free havens , the good farm land and more. What does that tell us all? BLACK ROCK , VANGUARD , STATE STREET own or control 85% of ALL ECONOMIC ACTIVITY on the planet , including grabbing the land in UKRAINE on the heels of war. Does anyone think they will just give ALL that up to a just/or democratized digital system?
Gold and silver have been used as money and a store of value for 6,000 years. As much as some people would like us to think gold and silver are an anachronism, that they are no longer money, that they have application only in industry or as jewelry, there are those of us who know better. Paper money, or fiat currency as it is known to governments and bankers, has ultimately failed in every instance and in every nation where it has been used (in some instances, catastrophically); do not think for a moment it will not ultimately happen here as well.
There are a few misleading things in the article, and certainly in the comments. Silver (which I hold, physically) has been super volatile too, and its price has been manipulated more than that of gold. The price spiked in 1979-1980, going up about 7x, from the Hunt brothers trying to corner the market, then lost 50% of its value in just four days, and ultimately nearly 80%. In Apr 2011, silver reached nearly $50/oz again, then lost half its value again very quickly. Today rehypothecation is a huge problem, where investment companies have sold the same ounce of silver to 400+ different people, the logic being that it's safe to do because all these people won't be asking for their silver all at once. It's basically stealing by selling silver that doesn't exist. That's why you have to hold it physically, rather than settling for a certificate saying you own so much. It's also important to hold you bitcoin yourself, not on an exchange, and keep your private key(s) to yourself, never letting them out on the internet. That way no one—not even the government—can take your bitcoin, shut down or freeze your account, tax you without your permission, take money out as a fine for having said something unapproved, etc.. As for depending on the internet, if the power or the internet access goes down, your bitcoin is not lost, only inaccessible until service is restored. We do expect to eventually be paying for groceries and other things in bitcoin, or transferring small amounts to another cryptocurrency like Monero for that. (Most other cryptos however are bad, for several varied reasons.) Gold has the problem of density. One ounce of gold is worth several months of our house payments, and we don't have any other big regular bills like that; and if you try to buy groceries with gold, how are you going to get change? Even a 1/10th ounce gold piece, which is so small it's easy to lose, is worth more than a shopping trip. Even today, many coin shops have been debanked; so I don't think we can count on them being in business when the dollar crashes, to exchange gold for silver other forms of currency. I think wise prep'ing includes silver, bitcoin, a reasonable amount of cash at home for when the banks won't let you have your money, maybe gold too, buying way ahead of need on all the non-perishables you regularly use, etc.. Bitcoin and CBDCs however are opposites in many ways. Bitcoin is about freedom and you controlling your own money. CBDCs are about the government and central banks getting total control of every cent you take in or spend. Oh, one other thing: People say they don't trust something that's just bits in computers. They fail to understand the 98% of dollars are exactly that—just bits in computers. Only something like 2% exist as coins and paper money.
I will disagree with the statement "You don’t hear anyone saying, “We don’t accept gold here,” because they do. It transcends borders, languages, and economic systems." purchasing large scale products, home, cars, boats ect... many will not want gold or silver - because the value might be say $2500 oz, but they need to turn that into something to carry it and then use... we don't live in that world (as a whole) and while I agree with all part... maybe even including the above... transactions will simply not align with a massive shift to "real money" in this manner. If I am missing something, help me see it.
If I have a gold or silver bar or coins I have physical items, the same with money be it dollars or coins. With crypto I have the hope that as along as the power stays on, it has value in my name. We constantly hear about all these end of the world scenarios and that we need to own bitcoin or the like. In any end of days event, it is likely that the power becomes intermittent or goes out altogether. So how does that work with electronic money? It doesn't very well.
Thanks for such a good articled on this , to add to that I would say with current CONTROLLERS and their intentions , how can ANYONE believe they will allow or accept or NOT HAVE CONTROL OVER ANY SYSTEM they replace the current collapsing one with .THEY are not backing down from CBDCs at all , what does that say ? QFS is just another of their scams , nothing in the digital world is safe , the military still has the CLIPPER CHIP that can shut is all down , and all those blips in computer disappear. THEY already have the tangibles , the resources , trillions in tax free havens , the good farm land and more. What does that tell us all? BLACK ROCK , VANGUARD , STATE STREET own or control 85% of ALL ECONOMIC ACTIVITY on the planet , including grabbing the land in UKRAINE on the heels of war. Does anyone think they will just give ALL that up to a just/or democratized digital system?
Gold and silver have been used as money and a store of value for 6,000 years. As much as some people would like us to think gold and silver are an anachronism, that they are no longer money, that they have application only in industry or as jewelry, there are those of us who know better. Paper money, or fiat currency as it is known to governments and bankers, has ultimately failed in every instance and in every nation where it has been used (in some instances, catastrophically); do not think for a moment it will not ultimately happen here as well.
Ty-for explaining in more understandable terms. 🔑
There are a few misleading things in the article, and certainly in the comments. Silver (which I hold, physically) has been super volatile too, and its price has been manipulated more than that of gold. The price spiked in 1979-1980, going up about 7x, from the Hunt brothers trying to corner the market, then lost 50% of its value in just four days, and ultimately nearly 80%. In Apr 2011, silver reached nearly $50/oz again, then lost half its value again very quickly. Today rehypothecation is a huge problem, where investment companies have sold the same ounce of silver to 400+ different people, the logic being that it's safe to do because all these people won't be asking for their silver all at once. It's basically stealing by selling silver that doesn't exist. That's why you have to hold it physically, rather than settling for a certificate saying you own so much. It's also important to hold you bitcoin yourself, not on an exchange, and keep your private key(s) to yourself, never letting them out on the internet. That way no one—not even the government—can take your bitcoin, shut down or freeze your account, tax you without your permission, take money out as a fine for having said something unapproved, etc.. As for depending on the internet, if the power or the internet access goes down, your bitcoin is not lost, only inaccessible until service is restored. We do expect to eventually be paying for groceries and other things in bitcoin, or transferring small amounts to another cryptocurrency like Monero for that. (Most other cryptos however are bad, for several varied reasons.) Gold has the problem of density. One ounce of gold is worth several months of our house payments, and we don't have any other big regular bills like that; and if you try to buy groceries with gold, how are you going to get change? Even a 1/10th ounce gold piece, which is so small it's easy to lose, is worth more than a shopping trip. Even today, many coin shops have been debanked; so I don't think we can count on them being in business when the dollar crashes, to exchange gold for silver other forms of currency. I think wise prep'ing includes silver, bitcoin, a reasonable amount of cash at home for when the banks won't let you have your money, maybe gold too, buying way ahead of need on all the non-perishables you regularly use, etc.. Bitcoin and CBDCs however are opposites in many ways. Bitcoin is about freedom and you controlling your own money. CBDCs are about the government and central banks getting total control of every cent you take in or spend. Oh, one other thing: People say they don't trust something that's just bits in computers. They fail to understand the 98% of dollars are exactly that—just bits in computers. Only something like 2% exist as coins and paper money.
Try writing a standard English title.
I will disagree with the statement "You don’t hear anyone saying, “We don’t accept gold here,” because they do. It transcends borders, languages, and economic systems." purchasing large scale products, home, cars, boats ect... many will not want gold or silver - because the value might be say $2500 oz, but they need to turn that into something to carry it and then use... we don't live in that world (as a whole) and while I agree with all part... maybe even including the above... transactions will simply not align with a massive shift to "real money" in this manner. If I am missing something, help me see it.
If I have a gold or silver bar or coins I have physical items, the same with money be it dollars or coins. With crypto I have the hope that as along as the power stays on, it has value in my name. We constantly hear about all these end of the world scenarios and that we need to own bitcoin or the like. In any end of days event, it is likely that the power becomes intermittent or goes out altogether. So how does that work with electronic money? It doesn't very well.
Excellent piece!!👏👏👏👏