Post
Topic
Board Economics
Re: Report: More Than 50% of the Worlds Banks May Be Too Weak To Survive A Recession
by
dothebeats
on 26/10/2019, 18:34:19 UTC
A recession occurs because of mismanagement, boom and bust cycle, geopolitical instability, etc., not because of Bitcoin.

I echo these thoughts. Even though bitcoin per se is considered as disruptive in today's standards, I still don't buy that bitcoin and other crypto are the reasons why there will be a recession. For the most part, banks and governments cause these recessions themselves until it creates a chain reaction on different parts of the industry because by then, everyone and their mothers would be in a hurry to get their assets out of a bank, causing it to implode from the inside and boom, money is gone.

The real problem is where we go with our money, and no one seems to have a proper answer to that question. One could say that buying Bitcoin or Gold is a good option, or real estate, but even when doing that, there will always be a significant part of our worth stored in bank accounts because a bank is still the best place to actually store our money.

For years, I have tried to answer this question: where should I put my money when even banks don't know where to put theirs? For every economic collapse, a different asset shines, but gold together with other precious metals somewhat remained stable, or so I think they are during downturns. Most probably I won't be storing my money in the banks, not during this expected collapse.