Banks are not safe in these conditions. Get out.
Just think of all the "interest" you'll be missing out on... /s
Posted on 03/10/2022 9:47:12 PM PST by SeekAndFind
Bring it on. USD is now already less than 60% in international transactions - the lowest in decades.
RE: USD is now already less than 60% in international transactions - the lowest in decades.
So, in which other currencies are the other 40% of transactions ?
De-dollarization is in progress. Now.
Metals, BTC, land/real estate, just about anything tangible and durable is preferable to dollar risk.
From now on your bank should be nothing more than your bill-paying service, if that. NOT a repository for your net worth, because one day soon you will wake up one morning and SURPRISE, your account was converted to CBDC and henceforth can only exist within the bank.
They won’t give warning because it would cause a bank run, and after the conversion to CBDC they won’t let you convert to cash for the same reason. There will be a white list of what you are allowed to buy or invest in with “your” CBDC.
Guns and ammo will not be on that list, as an example.
Banks are not safe in these conditions. Get out.
RE: De-dollarization is in progress. Now.
OK, I need an explanation on the following:
1) Why is the US Dollar Index SOARING and approaching 100 when just about a year ago it was at 91? That’s a 10% swing UPWARDS.
2) If not the US Dollar, which currency will the world trust and use?
The rest of them.
DXY soaring in this case is an indicator that investors are divesting from whatever assets into cash. If you want to know how USD is really doing, just look at the prices of commodities.
RE: DXY soaring in this case is an indicator that investors are divesting from whatever assets into cash.
But cash has to be in some form of currency.
Sure, American investors have the most cash so far, and it is mostly their domestic currency.
But in terms of international trade, what currency does the world favor now?
RE: If you want to know how USD is really doing, just look at the prices of commodities.
What’s the price of commodities in terms of other currencies?
Euro (not for long), Yuan, swap funds of the Russian ruble/Indian rupee/Turkish lira, whatever other national currencies.
It’s also likely that Fiat currencies won’t last long.
Banks are not safe in these conditions. Get out.
Just think of all the "interest" you'll be missing out on... /s
Same, the crisis is common among Fiat currencies. Dollar is too big to fall alone.
As long as math continues to work, Bitcoin is inevitable.
Now here's a twist to consider, in light of certain recent revelations: If human society openly encounters a more advanced "alien" society which is even nominally benign, whatever they use for specie will instantly be the most sought-after money on Earth.
It will probably be algorithmic as well.
DXY measures the dollar against the euro, pound, yen, swiss franc, and canadian dollar.
Those countries aren't worried about being sanctioned by the US. It's the rest of the world that is getting worried about an increasing unhinged and irrational USA trying to promote its woke globohomo agenda by using the power of dollar hegemony via sanctions etc.
Printed toilet paper.
Ah, the memories of seeing those Weimar hyperinflation pictures of kids playing with blocks of currency like Legos and peeps burning stacks of money rather than wood......
Agreed.
However, if one keeps some *smaller* bank footprint, I'd suggest strongly to consider keeping your fiat currency in a local or state bank. Get out as much as possible any glowBull bank. The woke and GlowBull BOA comes to mind, as an example.
Wealth in the form of BTC is very questionable.
For wealth retention, know (or learn) about ISO20022 and Basel Tier 3.
That means, if going crypto, a precious-metal backed crypto. BTC is NOT in that category.
Or, if not going crypto, then physical precious metals: Silver, gold, platinum and palladium.
Ending US Dollar hegemony in the world will be extremely painful for Americans.
But in the long-run, it may actually save the Republic.
Congress won’t be able to run massive deficits, thus ending leftist-progressive social engineering schemes. It will reduce the power of Fed.gov, and return it to states.
It will force the return of real industry to the USA. It will but a brake on the massive power of Wall Street.
Again, it will be very painful, but it could be a good thing.
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