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RE: Trillionaire Rothschild Warns His Own Central Banking System Is Failing and Buys Gold

in #money8 years ago (edited)

Well, it would be wise to keep some stuff out of crypto just in case things get so wrong that unhindered access to Internet ceases being a basic right. We have already lost almost all sorts of privacy on the Internet, which was unthinkable a decade ago. The new trend is for governments to try to ban the use of cryptography or force hardware makers and software vendors to install backdoors. Downright access control is just around the corner, actually it's already in place in China. When/if that happens, cryptocurrencies in their current form will take a huge hit. A massive global financial crisis that would fuel cryptocurrencies is precisely the type of thing that could push government over the edge. It's always safe to diversify: have some tangible assets like land (but remember you don't really own it and could be expropriated when the bankrupt majority decides to collectivize land as it happened is USSR) or gold (but remember that you'll likely be coerced to sell it to the government at an unfair price when they are forced to return to the gold standard to stop the crazy hyperinflation, so you'd better have a good plan about where to store it safely away from the looters's reach and have plausible deniability as of why that gold you bought isn't at your home anymore).