If the US dollar were to collapse

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Avatar for francis105d1
2 years ago

In a possible collapse of the dollar, the whole world will be affected, and any asset you hold with third parties will be seized. If you have gold, silver, and many precious metals in custodian accounts like banks, it will be taken. If you have money in your bank account, it will be seized while you lose purchasing power.

On any collapse, the government first does get the exits closed; they don't let you take your money or assets out of your favorite custodian services by limiting the number of assets you can withdraw. The government does this to prevent capital from fleeing to other jurisdictions, not to mention that in collapses, basic essential services go offline, including banks and their ATMs.

And the same will happen to those intelligent enough to leave their crypto coins on exchanges, custodian services, or any other service on which you don't control your private keys. Stop being competent in the wrong direction and get your money out of third parties applications that yield interest because in the time of the collapse, the government will force those services to surrender your crypto, and you will get worthless paper; if you think crypto is the currency but you are leaving your assets on custodian services you will be taken to the cleaners like everyone else in the coming collapse.

By to way, governments will want to seize that which has value and give your worthless bills, just like when they did with gold before. Third parties will be the easiest for governments to take or seize, or they will put those CEO s in jail, so your custodian services will sell you out in a heartbeat.

In a collapse situation, electricity may fail, so it is always a good idea to have some physical assets like gold, silver, and some cash but never on amounts that will slow you down if you need to flee. Money works when the electricity goes out, or there is a disruption of service utilities.

Pretty much Bitcoin and other cryptocurrencies are good to start over somewhere else or to preserve wealth from third-party confiscation, and that includes first. Most governments like to take citizens' property to finance either their pet projects or to fund whatever else project they may have, but with your money and in exchange, they will give you worthless pieces of paper as they did to gold.

And in a situation like the one that Ukrainians are having, you may need a genuine peer-to-peer currency then a useless store of value that can't be used thanks to transaction fees being as high as the sky. You can bet that the transaction amount daily will increase in a crisis scenario. That means you need a cryptocurrency that can support that usage hike without notice and custodians; that currency is Bitcoin Cash BCH, in my opinion.

You have been warned.

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2 years ago

Comments

There's much sense in your writing, thank you for sharing and more grace and knowledge to come up with more.

$ 0.02
2 years ago

Thank you I write often so please take a read for my next article because I will be talking a similar topic

$ 0.00
2 years ago

Is alright sir I will definitely like to to read another one.

$ 0.01
2 years ago

BCH will be the means of every transaction if dollar collapses

$ 0.01
2 years ago

I don't know if that is the future but it is those that have it will be golden

$ 0.00
2 years ago

Indeed

$ 0.01
2 years ago

After reading your article, I was able to get some idea of ​​the future situation of some big banks in our country. A slight collapse of the government of our country means increasing pressure and loss on the people of the whole country. Then crypto is the right solution.

$ 0.02
2 years ago

Pretty much you just have to save or set aside some savings in the form of metals, cash and a usable crypto like BCH and even BTC. The key is saving

$ 0.00
2 years ago

Oh! Got this new idea! Thank you for sharing

$ 0.01
2 years ago

I got scared reading the possibilities of dollars to collapsed. It will really affect a lot.

$ 0.01
2 years ago

There is no reason for that if you prepare for a crisis by having some savings

$ 0.00
2 years ago

Yes and I'll make sure to have more savings..

$ 0.00
2 years ago

I got a new points after reading this article, I totally agree with you because if the dollar collapse then a whole world will be effected by this one , Money also work as a electricity because it's travel from one place to another place and make produce more money

$ 0.03
2 years ago

Indeed I forgot that about cash you need people moving cash around from place to place. I guess is always good to have a little bit of cash, some previous metals but 90% into a crypto that the reader may trust or like.

$ 0.00
2 years ago

You're observation really great and very impressive I really appreciate with your hard-work

$ 0.02
2 years ago