It’s been circling in my head for a while now. How does one prepare for such a thing? Are we going to the bank and taking all of our life savings and stuffing it under ours mattresses?
I hear about buying precious metals, but I feel it’s too late for some of us to jump on that band wagon.
I have an emergency pack. Thankfully I have a lot of experience in the outdoors. I’m somewhat prepared, but you can never be fully prepared because we don’t know what the future will bring.
I just want a to hear some of your plans or ideas.
If you don’t believe it will happen, sure, explain your thoughts, but let’s be nice! The world is a very unstable place and many people are on their toes.
Dollars and metals will be useless. Too many people will accept the new economic system and those that want to use the old currencies will be so few that they may as well form their own self sufficient community.
Although independent communities and nomads won't last long. The government will start a relocation program that forces rural residents to move into urban areas in order to "protect the environment". They will hunt nomads down even if they are in remote areas so eventually you'll have to adapt to life in a dense city. Perhaps a few will die in peace and isolation but many will be captured.
When you're forced to live in a city, you'll have no choice but to use the main currency. Cities are designed to put you in debt and forced to always have a job else you'll lose everything.
entertaining your very unideal (possibly real) context...
dollars = wallpaper
metals = as a currency, useless, yet strong industrial uses
bitcoin = 1 tulip
lets broaden the context:
russia owns more gold than US dollars;
china is hoarding gold (the amount is unknown, of course);
turkish citizens are also hoarding gold against the lira (hi, venezuela);
central banks are also hoarding gold to hedge against insolvency;
since the clay tablets of the hittites, gold has been a reliable store of wealth (5k years).
buy gold; buy silver; buy precious metals...
not so speculative? buy hard assets.
if you cant hold it, you dont own it.