If we enter a depression > financial crisis > global fiat currency collapse, governments will have no choice but to try to back their currencies with something scarce again to stop a catastrophic loss in confidence of their currencies. There will be no choice. Some smart governments have been buying gold like crazy the last decade in anticipation of this, but most have not.
In this global governmental rush to back currencies with gold again most countries will call on the confiscation of the populations private gold holdings in an attempt to obtain gold that can no longer be sourced on the open market. Some will do it reasonably just like how the US confiscated its citizens Gold on April 5th 1933, and some countries with unjust legal systems will do it unreasonably via forcible seizure.
Governments will implement fines and prison sentences for everyone who does not hand over their gold for worthless fiat and they will nationalise gold mines under the guise of trying to help their nation.
Governments will start to help each other confiscate gold held in other countries, for example Singapore will rat out US citizens who store gold in Brinks Singapore and repatriate that gold back to the US etc.
Anyone with investment grade gold stored in seizable locations like private vault storage will end up with nothing but a pile of collapsing fiat in return for their years of prudent investing.
However, amongst all of this chaos and drama there will be one thing overlooked. The one thing that if stored properly is unconfiscatable. The one thing you can hide in your brain if need be. The one thing that can't be seized or repatriated.
Digital gold.
Without decree or force, and without the mark of any government, it will become the only truly honest money, it will become the defacto money of free people worldwide.
Submitted April 15, 2020 at 06:16AM by slvbtc https://bit.ly/3bb23e6
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