You just moved the goal posts. Typically when a currency collapses it doesn't go to zero it hyper inflates. Your $2 coffee now costs $200 or $2000. In such a situation your $2 XYZ coin is now worth $200, $2000 etc.
Of course if the world goes full Mad Max all bets are off.
Au contraire. We could see 1 BTC hit 100,000 dollars or more. So sure, it would suck. Like a can of soda will be like $20, but any fixed amount debt, like a mortgage, could be paid off easily. Like an oz of gold could be sold for $50,000.
My grandpa survived the depression, and he said “what was strange is that you could have a whole shoebox full of money, and there was just no where to spend it.” What he meant was, because there was no work, there was no stuff. People (farmers) held on to food. Shelves were bare. Noone wanted to sell things for money, they wanted barter for essential goods.
This is internal face cleaning bu Fed due to the Covid19 insider trading inside the Fed by such individuals. They couldn't fire them due to hurting Fed's credibility, so they let them resign.
I agree with this, this isn't a "sinking ship" this is literally just throwing some underlings that don't matter much under the bus. If the NY fed president resigned then this would be a different story. (The NY fed is effectively the one with the real power)
Crypto is valued in euros, pounds etc as well as the dollar.
Is a length of wood worth less because you measure it in meters rather than feet and inches?
You just moved the goal posts. Typically when a currency collapses it doesn't go to zero it hyper inflates. Your $2 coffee now costs $200 or $2000. In such a situation your $2 XYZ coin is now worth $200, $2000 etc.
Of course if the world goes full Mad Max all bets are off.
Au contraire. We could see 1 BTC hit 100,000 dollars or more. So sure, it would suck. Like a can of soda will be like $20, but any fixed amount debt, like a mortgage, could be paid off easily. Like an oz of gold could be sold for $50,000. My grandpa survived the depression, and he said “what was strange is that you could have a whole shoebox full of money, and there was just no where to spend it.” What he meant was, because there was no work, there was no stuff. People (farmers) held on to food. Shelves were bare. Noone wanted to sell things for money, they wanted barter for essential goods.
The fed has regional branches? interesing.
Yup. And they have creepy buildings, too. https://en.m.wikipedia.org/wiki/List_of_Federal_Reserve_branches
who is taking their place?
Every game of monopoly ends up with people stealing (printing) money from the bank and then chaos
This is internal face cleaning bu Fed due to the Covid19 insider trading inside the Fed by such individuals. They couldn't fire them due to hurting Fed's credibility, so they let them resign.
I agree with this, this isn't a "sinking ship" this is literally just throwing some underlings that don't matter much under the bus. If the NY fed president resigned then this would be a different story. (The NY fed is effectively the one with the real power)
Reminds me of Sept/Oct 2019 when all the CEOs stepped down just before covid started