There appears to be wide spread agreement that our monetary system is so broken that it needs to be replaced
On Oct 14th a lot of money falls due and the story is that the banks don't have any to pay their o/night loans that were stretched out.
The only collateral they have is their Derivatives which are just bits of worthless paper and the Fed will not be silly enough to accept them
Therefor is this the trigger for a collapse of the major Banks of the US--- IE a re-run of the GFC
Remember the GFC was greatly triggered by the Fed demanding that the banks use a better system to value their collateral which as most of the loans were bogus they could not do, hence it all came undone
If so will they take the opportunity to replace the currency system
All who trade shares know of the actions that companies make when they issue far more shares than the value of the company, they then consolidate and give you one new share for ten of your old ones
Will the Central banks ( mostly owned by one group) take the opportunity to start afresh with some new form of currency which would kill the idea that (old) Cash is King
Gold is already on the laws in the US and Australia that it can be seized at any time and it's use made illegal so we can't use that.
Cryptocurrency has no security and if the Fed, RBA etc introduced it's own version they would immediately outlaw any competition as a new form of counterfeiting
So the message is clear be a Boy Scout -- Be prepared
Have cash but be ready to turn it into some form of solid asset quickly
We live in uncertain times
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- Cash is king, but is it?
Cash is king, but is it?
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