Financial readiness

This one is going to be short. There are probably about 100 tabs or so open on this browser. All the stories need to be told, but they are pointing in one direction. The people are starting to figure out that the fix is in. They believe in the principles we were taught in school regarding our civic society: the rule of law, equal justice, equal protection, life and liberty. More people are seeing doctors and hospitals deliberately withholding life-saving medication from their family members. More people are getting fired for not taking an experimental medicine that has killed tens of thousands of people that we know of within one year, and permanently disabled even more.

When citizens peaceably assemble to demand redress of grievances, their employees (the politicians and bureaucrats) label them terrorists with unacceptable views. The Canadian government has warned the public this evening that people who support Trump and support the truckers are liable to have their assets confiscated. As I write, there looks like the beginnings of a bank run in Canada. I believe that the Biden-Clinton-Obama-Pelosi axis would love to do the same thing in America. What can we do?

Do not put all your eggs in one basket. We need to preserve the savings we have accumulated over decades, and we also need to be able to make transactions, buying and selling. More cash would certainly help. However, if the leftist elite idiots crash the system, we need alternatives.

Money is defined in the modern era by three functions. 1) It is a medium of exchange. 2) It is a store of value. 3) It is a unit of accounting. (The fourth traditional property is that it is a standard for deferred payment.) We grew up with a single currency that united all these functions. The politicians have debased the currency, and the malicious have weaponized the financial system against anyone who disagrees with leftists. We have seen this not only in the actions of the Canadian government, but also the financial de-platforming of American conservatives.

Very well. There are other ways to store value and to conduct exchanges. I am no financial expert, by a long shot, but my observations suggest that these two functions will have to be separated for the near future. In particular, I see gold as a store of value, and Bitcoin as a medium of exchange.

Bitcoin’s volatility discourages its capacity to store value, and indeed its volatility is much higher than that of gold, as I showed in an earlier column. It is also noteworthy that Bitcoin’s volatility is gradually decreasing as its market capitalization increases. Gold is the better store of value, although I have read authors making a strong case for silver as well, which they consider substantially undervalued.

On the other hand, there is not a convenient way to conduct transactions with bits of precious metals at the present. Every gram of gold, for example, is worth about $62 at the time of this writing, so it is not helpful for making small purchases. Bitcoin, in contrast, is being accepted in a very slowly widening part of the economy. The opposition of the International Monetary Fund to El Salvador’s adoption of Bitcoin can only gratify the heart of an opponent of the globalists.

Some authors, more knowledgeable about finance and economics than I, have come to the same conclusion that I have. Namely, the gold-Bitcoin debate should not have an either-or conclusion, but rather a both-and conclusion. These are two tools to detach oneself just a little from the Sauron’s eye of the federal government. Even this will have its limits, as the government demands to know the amount of your holdings and earnings.

I already have a small investment in precious metals. In addition, I have spent part of the last two days creating a crypto-currency account. The links you need are at the bottom of the blog. You do not need a wallet, although that can be useful. You can make small, periodic purchases of crypto-currency, although beware of the fees. The main thing is to have a modest holding in precious metals, as your savings, and a modest holding in crypto-currency, for your spending. I also plan to go to the bank and get some cash.

War (foreign and civil), famine (supply chain), pestilence (injections plus a new China-created hemorrhagic fever) – as mentioned in Ezekiel – and now economic collapse as well? Heaven preserve us.

9 thoughts on “Financial readiness

  1. Only a hundred? Lightweight. I’ll often have a hundred before breakfast. I use OneTab and have seen 300 plus be consolidated in one click. I usually download them when I have 30 or 40 thousand on the One Tab page. I have hundreds of thousands of webpages bookmarked. They have been collected since 1990 or so.
    I have severe “Information Anxiety” c 1989.
    The kids call it FOMO.

    Liked by 2 people

      1. Fear Of Missing Out, my friend. You poor man – your former career was full of acronyms, and just when you thought you could retire in peace, here come more acronyms!

        Has your son arrived safely at his undisclosed destination?

        Liked by 1 person

  2. Hedge, hedge, hedge, seems like the best policy, given the possibility of real emergency. Hard goods, gold, silver, ready cash and crypto in that order of importance has seemed reasonable to me for at least the last year or so. I haven’t heard anything to significantly upset that very basic priority ordering. Perhaps you could switch one or another, especially between those last two, but it seems like guesswork. I don’t have any sense for how easy it would be for a determined government to disrupt a crypto.

    My family has listened to me to the point of buying an extra bag of rice. At least they told me they did. It sounded like they may have just bought a (nonextra) bag of rice. They probably laughed at me when they ate it. I do still hope things take a turn for the better and everyone’s preparations turn out to be unnecessary, but why chance it?

    Liked by 1 person

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