Re: Global Wave of Debt Is Largest, Fastest in 50 Years
Well the banks do have a back-up plan. It's called government bailout. 
Or maybe use the profits from bitcoins to buy gold? Yes I believe crypto is the future but so far gold is still a very trusted asset, one that people fall back to in times of uncertainty. I doubt it'll ever really make profit, it's just for safekeeping since humans seem to find it valuable.
When people talk about backing currencies, they think of backing it with gold (like it used to), not crypto. Or in some cases, crypto backed by gold.
Gold is and always was hedge against bad things happening. If we are to experience a crisis, it will keep going up.
However I agree with one thing - hoarding gold is not gonna save your ass. It has no liquidity. How do you want to pay with it? If there is nobody to give you money for it, then it's useless to you at the end of the day.
Anyway, buying gold is still the best thing you can do. And buying real estate too.
That's a good idea but it's old, and that's the idea of the old people who didn't have bitcoin before. Now that things are different, we have a different kind of non-physical assets with limited supply. So buying Bitcoin will be quite reasonable when you live in a world of technology, gold will not make us as much profit as bitcoin. that's what I'm sure of because the price of bitcoin is more powerful now than Gold, like the Iranian rocket launch on the US base. However I agree with one thing - hoarding gold is not gonna save your ass. It has no liquidity. How do you want to pay with it? If there is nobody to give you money for it, then it's useless to you at the end of the day.
Anyway, buying gold is still the best thing you can do. And buying real estate too.
Or maybe use the profits from bitcoins to buy gold? Yes I believe crypto is the future but so far gold is still a very trusted asset, one that people fall back to in times of uncertainty. I doubt it'll ever really make profit, it's just for safekeeping since humans seem to find it valuable.
When people talk about backing currencies, they think of backing it with gold (like it used to), not crypto. Or in some cases, crypto backed by gold.