Doug Casey explains life/death contest between 3 players: fiat currency, gold, bitcoin—overlooks some glaring possibilities. To name three: 1) nuclear war, 2) hyperinflation, 3) rise of police state
What if nuclear war reduces life in the United States to a primitive level where computer use is at best doubtful? Gold would likely survive nuclear devastation, but would either Bitcoin or fiat currency?
Hyperinflation, by definition, would destroy the value of fiat currency, but what would be the accompanying social dynamics that would allow bitcoin to survive when government would try anything, including banning currency alternatives, to keep currency circulating? It’s easier to ban/prohibit an electronically dependent medium than it is to ban/prohibit gold in a turbulent, factionalized society. (About 24 nations have already banned Bitcoin, including China and Russia, with more nations on the verge of banning than certifying tolerance.)
A police state is likely to restrict or ban private internet access and even private use of computers, so how will electronically traded and stored “currencies” function in a police state? Black markets, common in police states, thrive on gold—with or w/out computer access.
Hyperinflation, by definition, would destroy the value of fiat currency, but what would be the accompanying social dynamics that would allow bitcoin to survive when government would try anything, including banning currency alternatives, to keep currency circulating? It’s easier to ban/prohibit an electronically dependent medium than it is to ban/prohibit gold in a turbulent, factionalized society. (About 24 nations have already banned Bitcoin, including China and Russia, with more nations on the verge of banning than certifying tolerance.)
A police state is likely to restrict or ban private internet access and even private use of computers, so how will electronically traded and stored “currencies” function in a police state? Black markets, common in police states, thrive on gold—with or w/out computer access.
e.g., silver - then I agree. They have that advantage, but they are more difficult to transport
for consuming and trading, and must be stored in a safe place inaccessible to jack-booted
thugs of all kinds.
scatter small amounts of metal around, like BBs top interfere with metal detectors....
I might add that tulips were once regarded as a sound investment--but gold outlasted tulips, and a few other things.
clean food, clean water, a means to protect both
shelter (heat when needed)
me?
i have electronics EMP/solar flare protected, power generation also protected. you'd have to be careful in using them to not make yourself a target, i'll have other gathering with me, safety in numbers.
I agree and would add vitamin supplements, antibiotics, and pain relievers
to maintain health and survive.
all in my stockpile
in fact i am reviewing it now