And So It Begins??
With the weekends events over in the US leaving many individuals unable to access their own money it is worth everyone keeping an eye on how things unfold. Perhaps this is not the time but with the economy hanging in the balance who knows at what moment it could be. With banking corporations that historically are simply not held accountable. We are living in the wild west as to where is the best place to protect our money. It might be advised to have cash in multiple locations and assets to lessen exposure to banked cash. As we have been shown on more than one occasion that money can "poof" into thin air and never be seen again. It's happened before and it will happen again. In a time what some are calling the everything bubble we can only speculate on what turmoil world economies are heading towards with US treasury debt passing $31 trillion.... Yes, with a T. With sovereign debt forgiveness being suggested it is yet to be seen what will happen, however liquidity is going to have to come from somewhere. I would suggest when we do see the real turmoil it will be in transition with the move to digital money, CBDC's with private crypto firms also playing their part.
Whilst legacy fiat banking systems are held together merely by the trust of society at large. Fiat currency has now been un-pegged and intrinsically worthless for 50 solid years. Pair that with ballooning inflation and the loss of buying power, apart from having sufficient to pay bills and keep food in the fridge it is difficult to find a solid argument for holding cash. In reality, when and if the string pullers want real chaos, one well placed mainstream media cover will have people scrambling for their nearest bank. If the domino effect does eventually start and liquidity dries up the shutters of your local will most definitely be down and undoubtedly we are going to see casualties.
Thanks for watching.
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