There is no doubt whatever that the US will have to inflate the dollar to the point it is worthless by current exchange rates. We owe 21 trillion dollars even if we do not count the other 40 trillion that the government does not bother to show on the books! We can never pay back 21 trillion dollars! It is impossible for us to do so, even if the govt stopped funding everything other than Defense, just covering current obligations will take all the revenue the govt gets. Paying interest alone is over 40 billion dollars a month! there is NOTHING LEFT TO PAY OFF THE DEBT! Printing more money just makes it worse.
A no-win situation.
So, we make the dollars useless and give China a ship loaded with useless $100 bills to pay our debts. Or, create some 1 trillion dollar coins and FedEx them to China.
No good can come from where we already are because there is no way out other than taking the route used by Zimbabwe and Venezuela.
A larger system takes a little longer to die than those smaller ones, but the end result is identical. Our economy dies, and with it, the World dies too, from decades of artificial US support!
>:(Private land ownership will become a thing of the past, because everything will be confiscated for back taxes, once no one can pay any more. But they will work out a share cropping set up...enter the new serf class!
SMH!
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Rat hole some metals, that will be the only thing worth anything then! One of the reasons I am moving is the taxes here are $1500+; and there they are less than a hundred. I can pay that with metal for a long time, long enough they stop bothering to collect for lack of employees....
Then Anarchy will become the rule of the day!
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The taxes are almost worth moving for! How are real estate prices?
I have the pleasure of living in the highest-taxed county in the state.
Metals rat holed. Cryptos somewhere in cyberspace; keys are in a brick.
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My Sister bought 5 acres for $25K by lake Keystone I bought 1.5 acres on the other side of the same lake for $6600. My taxes there were $68.00, because the land is improved; hers were $160 because it is not (She does have power, and city water).
Come on down, that lake is 50,000 acres; and some really good fishing!
:)Glad you are prepping! That is the key to survival as things continue into the gutter! Metal is safe in the hand, not sure about crypto, even though I tried to buy some today, unsuccessfully. I worry about steem being tied to the dollar, okay for now, but in a SHTF situation, questionable. I just make sure Family has a key, but I like the brick Idea too! :)
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Hmmm.... I'll take a look on Google Earth.
I'm a believer in cryptos replacing fiat during/after a crash of the banking system. It will be out of govt hands and the price will be a world price, making the cryptos a universal currency, no matter the state of one's own local currency. That's the beauty of it. You can access it no matter where you happen to be as long as you have your keys.
I'm not sure Steem is tied to the dollar. The value changes based on demand and the conversion rate from the dollar. I don't see anything preventing Steem to go up or down other than the expectation people have for the future and utility of the platform. Powering up on Steem makes sense, too, but I'm a believer in LTC for future utility, demand, and value. Get a coinbase account, transfer $$ from checking, and get some LTC. Opportunities to get it at the very low price now will be ancient history some day soon.
Thumbnail calc: $10,000 in Steem gives you a $1.00 upvote value. Upvote your own post and get $1 from the rewards pool. Do that ten times and you have earned as much as the $10k would have earned in savings in a year! Ten times is easily doable and you're already beating the bank. If Steem goes up in dollar value, your rewards get sweeter! That really builds your earnings over the bank's pittance.
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I am not doubting Crypto. I am concerned with the government limiting internet access, which would hurt access to crypto, not the crypto itself. I am keeping packet radio close in case that is the only way to digitally communicate in grid down SHTF situation.
The white paper of steem says that they will try to make steem equal to a dollar, so the tie is voluntary, and not mechanical.
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I thought that was the SBD. Steem got up to over $4.00, reflecting the open market value. I thought. Maybe. I still don't understand why the difference is values was needed...and probably will never figure it out.
I have a small xcvr that runs on 12 volts and a few Baofeng UV5rs in an EMP can for that purpose. Just in case.
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It is confusing for sure! I tried to buy some...now THAT is confusing, LOL!
I have some of the Baofeng radios wrapped in foil, stored in an old microwave that quit (cheap Faraday cage) and I cut off the microwave cord to be 100% safe.
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Good move!@ They should be safe in there.
I bought some with ether coin purchased through Coinbase. It went smoothly initiating it from my Steemit wallet. I always sit on my hands and sweat a lot before committing to make sure I'm not giving away the kingdom by mistake.
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