Within 10 years (possibly much earlier) we’ll have a fully digital equivalent to the U.S. dollar
This is terrifying to me.
The War on Cash means that:
- we lose private ownership of our own liquid wealth
- bank “bail-ins” - where depositors are forced to take a loss on their funds in the bank - will not be voluntary
- since without cash, you have little choice but to put your liquid wealth in the bank
- government bail-ins will not be voluntary
- When all cash is digital and under the purview of government, via the banks Uncle Sam can levy whatever tax he wants on it - at will
- That is the promised future of the War on Cash
And that means the time to prepare is now
- everyone should have chaos hedges in place
- These include a little gold and some private, decentralized “cryptocurrencies”
- like bitcoin.
Bitcoin is:
- the only liquid money that’s 100% private
- Assuming you hold it offline and anonymously…
- no bank, government, or court can ever take it from you… and
- that is terrifying to governments
The genie is out of the bottle in the War on Cash
- The cashless society is coming
- But fortunately, the solution is already here:
- private cryptocurrencies like bitcoin.
- Every day, bitcoin is becoming more and more accepted as a legitimate alternative asset
- the law of inertia will do the rest
- 2017 target for bitcoin is $1,200
- (And if we see a bitcoin exchange-traded fund (ETF) launch in 2017,
- that figure will prove to be very conservative)
____________________________________________________
http://thecrux.com/can-trump-stop-the-war-on-cash-in-2017/
The War on Cash means that:
- we lose private ownership of our own liquid wealth
- bank “bail-ins” - where depositors are forced to take a loss on their funds in the bank - will not be voluntary
- since without cash, you have little choice but to put your liquid wealth in the bank
- government bail-ins will not be voluntary
- When all cash is digital and under the purview of government, via the banks Uncle Sam can levy whatever tax he wants on it - at will
- That is the promised future of the War on Cash
And that means the time to prepare is now
- everyone should have chaos hedges in place
- These include a little gold and some private, decentralized “cryptocurrencies”
- like bitcoin.
Bitcoin is:
- the only liquid money that’s 100% private
- Assuming you hold it offline and anonymously…
- no bank, government, or court can ever take it from you… and
- that is terrifying to governments
The genie is out of the bottle in the War on Cash
- The cashless society is coming
- But fortunately, the solution is already here:
- private cryptocurrencies like bitcoin.
- Every day, bitcoin is becoming more and more accepted as a legitimate alternative asset
- the law of inertia will do the rest
- 2017 target for bitcoin is $1,200
- (And if we see a bitcoin exchange-traded fund (ETF) launch in 2017,
- that figure will prove to be very conservative)
____________________________________________________
http://thecrux.com/can-trump-stop-the-war-on-cash-in-2017/