Posted: Apr 22, 2020 7:39 am
jamest wrote:I certainly stand by the claim that hyperinflation is on the horizon, if that's what you mean, but I didn't say that it was going to be happening this month! This virus malarkey is going to be haunting us for another year, I suspect, and the economy is going to be suffering intensely throughout. In my opinion, things are going to get gradually worse to the point that we have the biggest crash in history and fiat currency loses most of its value or collapses entirely. If that happens they'll have to do a reset based on gold or some kind of cryptocurrency.
Cryptocurrency? You think cryptocurrency will survive the end of capitalism and descent into anarchy?
No James, cryptocurrency requires vast infrastructure and high public trust in the abstract that goes way, way beyond fiat currency.
In your doomsday scenario the internet is gone. Cellular telecoms is a fading memory of a magical past when idols made of stone talked to us and pushed away the darkness.
Bitcoin cannot survive the fall of civilisation. As for gold, it's value will be nothing more than trinkets, because it looks nice, and that only to the extent there are people who care more for shiny baubles than food.
Knowledge is power. Invest in durable books with survival value.
Or you could try electric cars and solar panels.