So when the global Private Central Bank fiat currency system collapses, and they economy with it, what happens to all our savings and investments?

posted 2 years ago by NucaCola 2 years ago by NucaCola +59 / -0

When Trump and the White Hats have us transfer over to a “people’s economy” whether that’s gold backed or something else, what happens to our money? Our bank savings, our investments, even whatever cash savings we have on hand?

Would a lot of people be screwed over if they weren’t prepared like some other might have been by holding gold/silver? Their stocks, 401Ks, long term investment funds?

Would we file some sort of report of those lost savings and investments in the crash and get the equivalent amount in the new currency? Hand in all their now worthless fiat currency for the new gold backed currency? I’m sure the WH have some sort of financial safety net plan in place for the people right?

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– wethepepe 2 points 2 years ago +2 / -0

Ok , so the thing about Bitcoin going down/away in the way you describe is the entire world would need to go out at the same time or because of its decentralized consensus it will just keep going and when you eventually get back online all your Bitcoin will still be there

Even if a scenario where most of the world went offline and someone decided to use the window to do a 51% attack, because of the blockchain, people would just agree on a date pre-EMP to restore it to and continue from (undoing the attack).

So to answer your original question where you’d go to claim your lost assets? Your wallet

Ah, but what if you lose your device in the chaos of its fried? Screwed right?

Nope. Your recovery phrase is all that needed to get back everything you own.

Try doing that with gold you dropped somewhere along the way becuase you had to move quickly like your life depended on it :)