Where does any currency get its strength from?
- The acceptance of the currency as common tender for goods and services.
- The acceptance of the currency to pay taxes and fines.
- The general belief of the holding strength of the currency.
So each of these has to fail for the currency to fail.
Where are we today:
The dollar depreciates daily, to the point where people are investing in other currencies, such as BitCoin, or into precious metals like gold and silver. This is happening relatively slowly, so until there is a massive abandonment of a currency in a short time, that currency is still viable.
Taxes and Fines
However as countries and states start accepting gold and BTC as payment, the migration is beginning to happen. Once it becomes an avalanche, then it will be too late for the pebbles to complain.
Goods and Service
The number one adopter of BitCoin was, and is the private sector, and the peer to peer transactions. Now that companies like PayPal, Overstock, and Microsoft, are accepting BTC, we are now on our way to seeing the loss of the use of the dollar.
Why I am not stressed over this migration… yet
These are beginning movements. As the migration accelerates then it will go from months to weeks and days. Banks will abandon the dollar, followed by starting into issuing private BTC and gold bonds. That is when you know we are too late.
How do you prepare
- Buy BTC and other Crypto Currencies. Split your wallets between one on your computer and one online.
- Buy gold, silver, and dried food. Split between several locations.
- Buy demineralized glass bottled water.
- Don’t panic