BIG QUESTION: Gold or Virtual Currencies?
As anticipated, we’re on the brink of a global economic depression (again).
There’s a strong possibility that a long running global depression will lead to a reshuffling of the global economic and political landscape. IF that happens, many of the fiat currencies we currently use will simply evaporate.
Given this backdrop, here’s today’s big question:
If the dollar and euro implode…
…will the next global currency be gold or networked virtual currencies (like bitcoin)?
Until the new currency platform emerges, the safest hedge for the future is building, buying, or trading for anything that can produce food, energy, water, and products locally.
Phi Beta Iota: George Soros has dumped gold and is largely off the stock market. John Robb is one of the best observers of chaos versus resilience–his advice above coincides with William Greider’s finding in Come Home America, to wit, financial offerings are fraud, asset investments (at the local level) are real. What all of this leads up to is that we should all stop investing in old systems, and instead do the right thing: invest in bottom-up localized resilience that yields sustainable benefits for all–real assets for real people.