The ‘biggest crash in history’ per Robert Kiyosaki!

HATER RIGHT HERE, BUT NOT CRYING OVER SPILLED BTC MPCUSA... Save your oxygen, you Silver Hater!!

 

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No not a hater, just want my kids and grandkids be able to afford more then a happy meal when I am gone...LOL

 

The way I see it, the current debt trajectory for consumers, corporates, and governments is unsustainable. In the past, how has this been handled? Normally, through financial repression (post WW II, post 2008, QE ad nauseum) and inflation (post-Bretton Woods). We've never seen the sort of peacetime deficit spending that is currently the norm, and at some point, investors really should question whether it's worth it to continue financing the government if the dollars in which they're being paid keep declining in value.

All of these sky high asset prices are built on this artifice of debt; one wonders if the whole house of cards may be about to fall in on itself. There do seem to be signs of distress in certain areas (CRE office loans, rising auto delinquencies, irrational valuations in private credit, etc.), so I wouldn't be surprised if we had another 2008 style crisis in the near future.

 

The best protection for any alleged U.S. dollar or currency or debt problems is....U.S. stocks !!

A global reserve currency like the dollar will likely NOT be replaced within any of our lifetimes.

The rule of law...private property rights....removal of capital controls....a free-floating currency....large and liquid bond and stock markets....these are all MANDATORY if you want to "replace" the dollar....and very few countries check off more than 1 or 2 of these boxes.

 

I don't have anything against Bitcoin whatsoever. But not understanding the underlying tech scares the bejeezus out of me. Mainly, what happens if your lose a hard drive or thumb drive with millions and millions of dollars? I was reading recently about someone in Europe who discarded the wrong hard drive, and is now fighting with their goverment to go through their dump to try and recover it. Yikes!

 

security is definitely an issue but like any investment you need to take steps to protect it and thats what ever it takes !

 

You can buy an ETF and avoid this issue.

I was not a fan of Bitcoin until I read The Bitcoin Standard: The Decentralized Alternative to Central Banking: Ammous, Saifedean: 9781119473862: Amazon.com: Books.

I wish I read the book earlier so I had an understanding and bought it years ago.

 

Yes, I'd forgotten about that. But at these prices, even that ship has sailed for me at this point. Bitcoin was down to 18,000 when I really considered getting my foot in the door. It wasn't all that long ago either.

 

LOL! Hurry up!! I'm not a spring chicken anymore.