The countries that I think can’t avoid a crisis — Canada and Australia — aren’t a huge part of the global economy. China is the biggest economy facing a credit crunch, but its huge level of government spending is already softening the blow. Other countries in line for a credit crunch — South Korea, perhaps Singapore, Belgium, Norway, Sweden, and a few others — have large trade surpluses, which can counter the effect of a credit slowdown.
This crop derives its political philosophy from the musical “Annie”: Tomorrow is always a day away. For normal people, however, the day after tomorrow always arrives.
Let’s take for granted that Gold is the most valuable substance in the world, just based on the cache and global acceptance alone. People love it; governments love it. If you travel at all, you’ll notice that the local coinage in any country in the world either resembles gold, silver or a combination of the two. These precious metals represent value to all societies, and that has been ingrained in all of us. We have been conditioned, like dogs, to believe in these substances as being of high value. And it is true. Gold will become much, much more valuable ten years from now than it is today. Can you take advantage of that? Would you know how to buy gold bullion? Would you know a fake Gold coin from “The Real McCoy”?
For you and I., this is not good since the economic aftereffects will be almost nuclear. Every nation will suffer significant economic damage in the not-too-distant future. Tax increases on citizens (“Obamacare” brought over twenty different tax increases alone) is a sign of economic desperation. And you can go back to the infamous Gold Confiscation Act of 1933 for more proof. The country was in the middle of The Great Recession, and when a government has to take all the Gold from their citizenry to function, it’s a sign of desperation, not inspiration.
Moving to a new country now has never been easier. Flight prices are now very low, and global mobility has reached unprecedented levels as work becomes increasingly remote and part-time. However, it may be necessary to set up a new residency overseas before there is a crisis.
Such countries would also have the option of switching from the dollar to another dominant currency. With the euro and dollar gone, that currency might be the Chinese yuan. The difficulty with this possibility is that, presently, the yuan is not in common use on the street.
Evander Smart wants to get you talking, get you thinking, get you learning about Bitcoin, “The Future of Money”. He has two Bitcoin video training courses on Udemy.com called “Bitcoin for Beginners”. Go to EvanderSmart.com to get the latest on Evander and the latest Bitcoin news.
In ’08 and ’09 at the moment the crisis hit, George Bush and Paulson as Treasury Secretary and Ben Bernanke in charge of the Federal Reserve, they all did exactly what they had to do. And there were a variety of choices, depending on whether you were a Democrat or a Republican. But that it needed to be attacked was never in doubt; they did . They acted quickly.
Pundits have thrown around a number of predictions, but Keiser believes Bitcoin will only see a major price correction around the $25,000 mark. He also cautioned investors not to lose their heads and panic buy or sell.
The U.S. dollar is not the only reserve currency in the world, though it is the most prevalent. As of September 2016, the International Monetary Fund (IMF) approved four other reserve currencies: the euro, British pound sterling, Japanese yen, and Chinese yuan. It is important that the dollar has competitors as an international Reserve currency because it creates a theoretical alternative for the rest of the world in case American policymakers lead the dollar down a damaging path.
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