Bank of International Settlements (BIS - The Central Bank for all Central Banks) deploys AI slight of hand on global bank transfers. What? Is BIS going to interrupt global bankings cash cow, money laundering? Highly doubtful. Folks, this AI is for you and all the private transfers BIS does not like.
(www.zerohedge.com)
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I agree with that, diversifying is good right now you don't know where things are headed.
My timeline prediction is
Stock market (and crypto) crashes
-> gold/silver immediately spikes up
-> CBDC added a few weeks/months later
-> Crypto spikes up
As the world wrestles with who becomes the next reserve currency, people will just start using crypto.
Yes locally gold/silver is good for purchases but if your grocery store has to buy internationally, they have to trust a 3rd party to hold their gold/silver and keep it secure. The 3rd party essentially becomes a bank and you have to trust they won't fudge the numbers. And over time we cycle back again into a fiat hellhole as "3rd parties" grow in power.
Cryptocurrency breaks that cycle, with it I can make purchases internationally, I don't need a bank, I don't need to trust someone to handle my finances. People will ultimately gravitate to that as they start to understand how crypto works.
I agree. Crypto is needed for transacting. I use it to buy my ivermectin. It's easy, secure and private.
But as crypto becomes more widely adopted it doesn't mean that gold/silver will lose value.
I've always felt we'll have a variety of currencies and businesses can decide what they'll accept. And I'm pretty sure that if people want to pay with cryptos, they will find a way to accept it.
Oh gold and silver will definitely not lose value, I just think keeping your wealth and increasing your rate of return is much greater with crypto.
I also think it isn't feasible to have a gold/silver backed economy without 3rd party banks. They will have to be trusted to give factual information and not conduct shenanigans (which doesnt happen).
Gold and silver will still be there and be valuable but the backbone of commerce will be on cryptocurrencies. This is how we can take back control, root out some of the inherent corruption in the system permanently, and still increase the standard of living for human beings worldwide.