Imagine waking up one morning to find that your bank accounts have been frozen. Some crisis, whether real or imagined, has the banks declaring a "bank holiday" while they sort out the mess. Notice how they using relaxing words like holiday to make you feel good about not being able to access your funds? This leaves you with bills to pay and groceries to buy with no way to pay for them. Sounds impossible? Think again...
March 6-10 1933, President Roosevelt declares a bank holiday
Americans could only use the banks to make change during this time period. Out of this chaos came Executive Order No. 6073, which didn't allow people to send gold overseas and prevented banks from paying out gold. A month later, on April 5, the President issued Executive Order No. 6102 which stated that Americans had to deliver their gold and gold certificates to the Federal Reserve bank and be reimbursed with paper fiat money. Sounded like a great idea at the time right?
Gold is Money, Everything Else is Credit. - J.P. Morgan
Fast forward to August 15, 1971 when Richard Nixon announced the American currency was being removed from the gold standard. From now on, the paper money would be backed by nothing more than the good faith and promises of the Federal Reserve (which is neither Federal nor a Reserve, but that's a topic for another day).
Today we have entered a new era of digital currency. It can't be confiscated by banks, can't be regulated, and is actually backed by something of value. If a bank holiday were declared tomorrow, the value of digital currency would soar as the masses tried desperately to find a medium of exchange. Panic would ensue for those uninitiated to the world of crypto. Those of us already in the market would be positioned well to ride the wave as awareness of cryptocurrency hit critical mass. We also would have a means to acquire goods and services while the manipulators worked out all the details on their next ponzi scheme.
“Paper money eventually returns to its intrinsic value – zero.” Voltaire
I'm amazed at the number of people who still don't have a clue about bitcoin. The last 6 weeks have seen incredible gains in value, yet the average Joe on the street has no idea that fortunes are being made while they relish in their 2% interest rate at the local bank. Preppers talk about gold and silver and I believe that is a great idea to have these in your hand for a time of crisis. Digital currency is, in my opinion, another way to prepare for the eventual downfall of our currency. You don't need to be a trader or speculator in the market, but get some bitcoin through an exchange to have for a rainy day, because the storm clouds are forming my friends. Get a savings plan started that will grow your cryptocurrency holdings, for too long we have all been so quick to jump into the stock market with our 401k's and such, we need to have a plan to diversify without the use of fiat currency.
I know I'm preaching to the choir here, as we have all been awakened to the reality of what is heading our way. We need to do our best to shake our friends and family from their slumber at the risk of sounding like the "crazy one", to at least get them thinking of alternatives. Fortunes will be made and lost in the coming years, and it will be more fun if my loved ones are on my catamaran in the Caribbean rather than working two jobs to recover the losses of their retirement savings!
Keep Steemin' and share the love!
The people who ignored my bitcoin recommendations in 2013 are saying how much they regret it; while ignoring my steem recommendations now.
Ha! Isn't that the way it goes...BTW you have some really cool blogs, so I followed you.
Thanks mate. Writers block kicked in, so nothing recent, but I'll get back on the old nag soon.
Followed back :)
Looking forward to it!
I vote for Caribbean too! Save a spot on the cat!
Will do!
I'm the "nut" in my family.
All of us Steemians are probably considered out of the mainstream, and that's fine by me!
I mean as far as believing the dollar has no real value. They think that fact is a conspiracy.
Point them to 1913 when the Fed was created, since that time the dollar has lost over 90% of its purchasing power.
I have given up. They stop listening the minute I tell them their money has no value. I hope I am wrong that the dollar will crash in my lifetime because I am the only one in my immediate circle that Is prepared.