The US Dollar is steadily approaching a value of zero. Many believe that this summer will unfold the biggest financial collapse known to man. With a derivatives time bomb that is worth multiples of the planets GWP, our society has created debts that can never be paid.
GWP 2017 = $79trillion Source: https://www.statista.com/statistics/268750/global-gross-domestic-product-gdp/
Total Derivatives Estimate for 2015 = 1,500 trillion Source: http://www.globalresearch.ca/global-derivatives-1-5-quadrillion-time-bomb/5464666
I am of the firm belief that precious metals will take centre stage in the redistribution of wealth that is about to happen on the planet. However, this week has shown clearly that the direction of travel for anyone wanting to be able to pick up the pieces after the sytem collapses is crypto. In one week Bitcoin has added close to 3 billion dollars to its market cap.
Legality of bitcoin by country: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Over what some would say is a very short period of time cryptocurrencies have become a small thorn in the sides of the banking elite. Almost every other day this week some other country is passing a law to legally recognise bitcoin as money. With a limit of 21 million bitcoins, not every millionaire in the world will be able to own one.
My strategy for precious metals over the past few years has been, buy and hold. I am now going to attempt to extend this to crypto. Over the next few months, we may see the crypto markets eclipse the stock markets. Wouldn't that be something?