Q said gold will destroy the Fed. It might be happening, as the BRICS leaders announced a gold-backed monetary system today. The end of the US $ as reserve currency is approaching.
Although we are looking to the rainbow on the other side of this storm, during the transition we in the US can expect financial hardship like we've never seen before. Hyperinflation is a very real possibility.
There are many questions to ask, answer and discuss. I encourage Anons to share their insights. Here are some starter questions that are on the mind of many (and I don'thavethe answer)
-
If we have hyperinflation, how does it actually work? Suddenly there will be $10,000 bills, but how do you get them? Do you go to the bank and turn in your $100 bills and get $10,000 bills (or whatever the new denomination is)?
-
If you have been stacking gold and/or silver, how do you use it?
-
If you have a mortgage with a fixed rate, can you pay it off with new denominations, or does the amount of your mortgage increase to reflect the new denominations?
-
Is it wise to max out a credit card before hyperinflation because you can then pay it off with hyperinflated dollar denominations?
-
What does day to day living look like?
You sit at the bar all day and drink bc it's not worth working when your money changes value 3x per day.
At least that was the solution when I was in Zimbabwe in 2008. Even brought back some 100 trillion dollar bills. When I was there 1 US dollar was worth 50-70 billion Zim dollars and you didn't get change. If it cost 190bill Zim you just gave them four US dollars lol
Well, at least you can say you were a trillionaire!