I have always had this question in the back of my mind... what asset class will take the place of world currencies if they go defunct?
Would it be as easy as creating a pegged new global currency in which all value is measured? Nope!
Would it account for current currency wealth? Would fiat wealth be equally exchanged? What about debt? Nope, nope, and nope.
Will the transfer of wealth go to the crypto-sphere? Good luck finding any value in that as we deal with zero global employment and chaos at every level. No electric power, no food deliveries, etc.
What are the serious people saying? Because I see people everywhere that are actually convinced that if they own crypto currencies they will hold the wealth after a global fiat currency collapse. Really people? Got news for you, if fiats crash, everything goes to zero.
Are there any serious conversations going on about this?
My thoughts all point to the use of alternative energy and everyone should be trained how to live a self sustainable lifestyle off the grid. I’m fairly certain the technology exists to achieve this on a mass scale.
If nothing else, those that have the ability to grow their own food and teach others how to do that, may want to start doing that.
This world is in unsustainable debt to the stratosphere! This can’t last forever.
Thoughts?