U.S. TREASURY WILL SUSPEND SALE OF STATE AND LOCAL GOVERNMENT SECURITIES ON JULY 30
TREASURY WILL "NEED TO START TAKING CERTAIN ADDITIONAL EXTRAORDINARY MEASURES" TO PREVENT U.S. DEFAULT IF CONGRESS DOES NOT ACT BY AUG 2
- YELLEN
I told you a few weeks ago to watch this...
(twitter.com)
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Lmao, if the power goes off, your Crypto IS STILL THERE. It doesnt disappear. Also, if power goes out, so does your local bank. You cannot access your us dollars if the bank is without power, as all your money is 1s and zeros on servers, and banks cannot just hand out cash randomly. So it's a stupid argument.
Everything depends on what you mean by SHTF. Different events are going to result in very different situations. Do you mean:
Total infrastructure collapse: Whether by EMP, solar flare, or some other national disaster. In this case, crypto will be worthless, but so will anything that isn't immediately useful. That includes gold and silver. The only things of value will be food, land, and the means to defend them. During this, which is essentially total anarchy, no one will be trading valuable goods for a chunk of rock that he can't immediately eat or shoot. Precious metals won't have any value until some civil order is restored.
Civil war: Since the infrastructure to support them will still exist, both precious metals and crypto are likely to retain their current value, though crypto will be much easier to trade for small goods. However, all involved factions will likely be printing their own currency, so you're probably much better off just using your faction's currency, and fighting like hell for that faction to win.
Weimar-style hyperinflation: Again, the infrastructure will still be around, only the fiat currency will be worthless. Gold, silver and crypto will still hold value, but as N0rds points out, stores are not set up to manage transactions with gold or silver, especially if you're dealing with values like 1/1000 oz. It's far easier to process 1/1000 of a bitcoin; and most stores are already set up to manage such payments.
To sum up: Gold and silver are better stores of value, but don't count on them having any liquidity. Crypto is much more liquid, and easier to process, but also less stable and more vulnerable to market fluctuation.
And you arent paying for mountain dew with gold or silver, either... Not a single store accepts gold or silver, but thousands of them DO take crypto...
Why
Show me a fukin 7/11 that accepts gold or silver bullion. I'll wait.
I'm still waiting for you to show me a single 7/11 that takes gold or silver...
I don't have a dog in this fight, but a few states have been passing different legislation to make gold and silver legal tender again.Louisiana, Texas and Utah being the latest examples.
Until it actually happens, not a single store takes gold or silver bullion, but thousands of stores currently take crypto....
I'll bet they'll take gold or sterling over a digital dollar.
Bullshit. Show me one store that takes "sterling". You cant, aside from maybe a pawn shop that sells metals... In vegas many restaurants and stores take BTC, no one takes metals.