Druckenmiller: Dollar At Risk to Lose Reserve Status, Could Be Replaced by Crypto (credit card, buy)

[margaretBartle]

Originally Posted by JonathanLB

I will make my tribe some beer after they do the hard work

So where you going to get the hops?

[margaretBartle]

Originally Posted by ocpaul20

Governments would LOVE to have an electronic money system

So when we go cashless, how do the criminals handle the money?


There's no way illegal drugs, human trafficking, illegal immigration is going to stop.



So how are the criminals going to work it?


Do you know any researcher talking about this?

[Elliott_CA]

Originally Posted by charlygal

*Eyeroll* Druckenmiller is a supporter of the prior president. ...

If the dollar is replaced by crypto for a global reserve currency, it will have nothing to do with the alleged upcoming collapse of the US dollar. Hasn't doomsayer been predicting a collaspe for decades?

I agree, the dollar is not going to collapse soon nor will it lose its reserve status anytime soon. I do agree with Druckenmiller that some sort of government-recognized (true fiat) crypto currency is inevitable. Under development are Fedcoin, the e-Euro and the digital Yuan.

[lchoro]

Cryptocurrencies are just another layer over currencies since they use tethers. This will explain it.

tethering

[Elliott_CA]

Originally Posted by lchoro

Cryptocurrencies are just another layer over currencies since they use tethers. This will explain it.

tethering

Fascinating, thank you. Here's an article by the Cornell School of Business that talks about both the Chinese digital currency and FedCoin. Tether is mentioned.

China’s e-currency is the world’s first sovereign digital currency

[Vic Romano]

Originally Posted by Taggerung

Keeping your wealth in paper and digital illusions is dangerous, because it will all evaporate during the next crisis....

So where do you keep your wealth?

[Taggerung]

Originally Posted by Vic Romano

So where do you keep your wealth?

I personally believe that silver (real silver that you can physically hold) is the best, safest, and most liquid of all financial assets. It is also by far the most undervalued.

[mathjak107]

Originally Posted by Taggerung

I personally believe that silver (real silver that you can physically hold) is the best, safest, and most liquid of all financial assets. It is also by far the most undervalued.

Yet gold is the choice of central banks around the world .

Silver plunges in down equity markets like every other commodity yet gold gas held positive real returns in 98% of all market melt downs . Even in 2008 silver plunged while gold went up ….

So silver is way to heavy an industrial commodity for my first choice.

I much prefer gold for anything but very high inflation as silver is to wish washy most of the time

[Taggerung]

Originally Posted by mathjak107

Yet gold is the choice of central banks around the world .

Silver plunges in down equity markets like every other commodity yet gold gas held positive real returns in 98% of all market melt downs . Even in 2008 silver plunged while gold went up ….

So silver is way to heavy an industrial commodity for my first choice.

I much prefer gold for anything but very high inflation as silver is to wish washy most of the time

Silver is extremely neglected at the moment- even compared to gold. But as peak oil and the coming energy cliff destroys the value of all paper assets, we will see silver reclaim it's rightful place as a monetary metal, even more so than gold. The fact that silver is used so heavily in industry only makes it more valuable, not less.

[mathjak107]

Originally Posted by Taggerung

Silver is extremely neglected at the moment- even compared to gold. But as peak oil and the coming energy cliff destroys the value of all paper assets, we will see silver reclaim it's rightful place as a monetary metal, even more so than gold. The fact that silver is used so heavily in industry only makes it more valuable, not less.

Meh ….. I don’t even agree with your entire premise of destroying paper assets