Aug. 27, 2020 - Health Ranger - Mike Adams
10:50
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| Hi, this is Mike Adams here with an analysis of why Bitcoin is good for prepping and also bad for prepping. | |
| So just a discussion of the advantages and disadvantages of Bitcoin and other cryptocurrencies in the context of a collapse and specifically a financial collapse that could end up resulting in a grid down collapse or we might end up in a civil war or international thermonuclear warfare or something like that. | |
| Now with Bitcoin, first for the downsides, it's important to understand that Bitcoin is very speculative and it's something that can be lost when the power grid goes down or if the internet stops functioning. | |
| So it depends on the severity of collapse that you anticipate happening. | |
| In a medium collapse, where you still have basic infrastructure, such as the power grid and electricity, then Bitcoin could prove to be very useful. | |
| Bitcoin insulates you from the Federal Reserve mad money printing that will absolutely destroy the value of the dollar. | |
| And as that happens, by the way, the value of Bitcoin expressed in dollars will, of course, appear to skyrocket. | |
| So it's not going to be a stretch at all to say that Bitcoin could go to $50,000 or $100,000 or at some point You know, a billion, because as the dollar goes to zero, the value of everything expressed in dollars goes to infinity, you know, because of dividing by zero. | |
| So people who now say, well, Bitcoin's going to go to a million dollars, they're not wrong. | |
| It's just that it still won't be, it won't be a million dollars in today's value of dollars. | |
| So it's a little bit of a misnomer. | |
| However, Bitcoin has good portability. | |
| And again, it insulates you from the Federal Reserve System, which is kind of an economic suicide system. | |
| So if you believe that the collapse kind of stops at a certain point where we get bank failures and the collapse of the fiat currency, but we still have working computers, working internet, and something else to go into, | |
| some other currency to move into, Then Bitcoin could prove to be very useful because you could move into Bitcoin before the dollar collapses, and then after the dollar collapses, you've got your Bitcoin that, let's say, hasn't lost much value, or maybe it's gained value, as people who are holding dollars lose most of their value, and then you're able to convert Bitcoin into some new currency when that new currency comes out, whatever that is. | |
| The new American dollar, the A digital dollar, the new Fed crypto Orwellian nightmare dollar, whatever it is. | |
| The mark of the beast, crypto Fed system, you know? | |
| And then you could buy into that with your Bitcoins. | |
| And that way you kind of skip over the massive losses of the failing fiat currency. | |
| However, major downsides to Bitcoin do exist. | |
| And that includes, of course, losing your wallet or having your online wallet basically looted or stolen, or having that company that your online wallet is stored with, that company might fold. | |
| They might steal everybody's wallets and run off to some island somewhere, which has happened before. | |
| or they might be investigated by the feds and taken down because, of course, the Federal Reserve wants a monopoly on money, and they don't want other organizations to be able to compete. | |
| And I have a feeling that as the dollar gets more desperate, so to speak, or the Fed is trying to prevent the collapse of the dollar, I have a feeling they're going to get a lot more aggressive with Bitcoin and other cryptocurrencies. | |
| It's just a guess. | |
| I don't have any proof that that's going to happen. | |
| But just from an analysis point of view, that's my guess. | |
| That's what's going to happen. | |
| And they'll probably try to outlaw gold and silver as well. | |
| Now, let's talk about gold and silver for a second, because gold and silver, I think, personally, are the best ways to insulate yourself from the risks of the dollar collapse and also insulate yourself from risks related to Bitcoin or cryptocurrencies. | |
| That's why personally I tend to stack or stockpile gold and silver physical in my possession rather than having digital Bitcoin. | |
| Now, gold and silver, though, is not as portable, especially silver. | |
| If you buy a lot of silver, it starts to get very, very heavy, and it takes up a lot of space compared to gold. | |
| Gold is way more compact in terms of the storage volume, I'm sorry, the storage value per volume or per mass. | |
| If you need to move a lot of money efficiently, physically, then fill your pockets with gold, not silver, right? | |
| Silver is way too heavy for that. | |
| But gold and silver work when you are capable of defending them against, let's say, looters or thieves. | |
| And so I do understand that some people who live in the cities, maybe they don't feel as comfortable storing gold and silver because maybe they live in an apartment. | |
| And there aren't that many places in an apartment to store gold and silver. | |
| Whereas if you live out in the country like I do, you know, you can bury gold and silver, you know, put it in a canister, make a secret treasure map, you know. | |
| The more land you have, the better it is because you can bury it in a forest somewhere that nobody's ever going to find and you better have a map in case you forget or something happens to you so that your family members can dig it up because it's impossible to find gold. | |
| A little bit of buried gold and silver on, you know, 50 acres or more of land. | |
| So that's why I think people who live in rural areas tend to have more faith in their ability to protect gold and silver. | |
| Also, if you live in a rural area, you probably have more firearms. | |
| And so you can defend your gold and silver from, you know, thieves or looters who are trying to attack you. | |
| You just shoot them, you know? | |
| I mean, hey, welcome to Texas. | |
| We shoot looters. | |
| That should be our new state slogan, as far as I'm concerned. | |
| We don't mess around with that kind of stuff. | |
| You come into somebody's house in Texas, you know, castle doctrine, you're probably going to get shot. | |
| So you're not going to make it to the gold and silver. | |
| And again, if it's a ranch, you know, you're going to have a hard time finding it. | |
| Oh, and by the way, I've got a sponsor in the world of gold and silver. | |
| They're called Treasure Island Coins and Precious Metals. | |
| And you can find their prices and what they have in stock right now at metalswithmike.com. | |
| That's metalswithmike.com. | |
| And they've done a great job with many of our readers now. | |
| And what they say is in stock is actually in stock. | |
| Unlike a lot of these companies out there that are bait and switch operations. | |
| Some of those companies will have like a real low price shown on the web, but then you call them up and they're like, "Oh, we don't have that for six weeks." So it's not really that price. | |
| In any case, getting back to the topic at hand, protecting metals is easier if you're in rural areas. | |
| So with this in mind, an overall strategy here might be if you live in a city, you might rationally and reasonably tend to favor cryptocurrency. | |
| Whereas if you live in the country, you might tend to favor precious metals, physical metals in your possession. | |
| And then as you move from the city to the country, as many people are doing, especially right now all across America, then you might want to sell your crypto and buy gold and silver with it because now it makes more sense to have physical gold and silver. | |
| And I do think it's always a good idea For everybody to have a backup wallet of crypto in a worst, worst case scenario like a Venezuela collapse where you have to get out of Dodge and all you have in your possession is, you know, your password to your online wallet or something. | |
| That's the only money you have. | |
| It would be nice to have some crypto that you could access even if you had to evacuate some kind of a war going on or something. | |
| You know, the country's invaded and you have to leave your ranch. | |
| And yeah, I've got backup plans like this as well. | |
| I mean, who knows? | |
| Maybe the Mexican narcos invade South Texas with UN troops and Chinese warriors or something. | |
| I don't know. | |
| My first impulse is I'm just going to stay and fight. | |
| Screw them. | |
| You know, I've got a 50 cal. | |
| We got a bunch of veterans. | |
| We got a bunch of cops. | |
| We'll just engage them and take them out. | |
| I mean, that's my first impulse. | |
| I don't plan to leave Texas, but if you had to, it would be good to have a backup plan. | |
| So crypto can serve that function very well for a lot of people, but gold and silver are my preference. | |
| For long-term wealth storage without the ups and downs of the crypto market. | |
| See, I like to sleep well at night and I know that gold holds value. | |
| It doesn't gain much value and it doesn't lose much value. | |
| Cryptos go up and down wild swings all over the place. | |
| Very risky, very volatile. | |
| I'm not trying to make money on this. | |
| I'm just trying to preserve some assets that I already have like you do. | |
| And so gold is the best option for that. | |
| And I do believe that gold and silver are wildly underpriced right now, especially silver is probably more underpriced than gold. | |
| And I think it could skyrocket substantially in terms of dollars, but again, it doesn't mean anything because dollars are just losing value. | |
| So again, I don't think about gold and silver as speculation. | |
| I just think about it as wealth protection, asset protection, so that you buy something today, you've got the gold and silver. | |
| You bury it in the ground. | |
| It's got a certain amount of purchasing power today. | |
| If you dig it up 10 years later, guess what? | |
| It's got the same purchasing value. | |
| So you haven't lost anything. | |
| And maybe you haven't gained anything either. | |
| But that's not the goal. | |
| Stop thinking about speculation. | |
| Stop thinking about investments. | |
| Start thinking about just protecting the assets you have. | |
| That's what gold and silver are all about. | |
| And that's why they're my current go-to choice for surviving the financial collapse that's coming. | |
| Thank you for listening. | |
| Mike Adams here at the Health Ranger. | |
| You can hear more of my podcasts at brighteon.com and read my website, naturalnews.com. | |
| Take care. | |
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