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Bitcoin is up 11% in the last 24 hours.
A bunch of retards started selling off “unstable assets” because of a minor and irrelevant war in Eastern Europe.
Everyone with any sense bought it when it dropped, because obviously, no matter what happens next, inflation is going up.
“Hedge against inflation” is not just some meme. It’s the truth of the matter. Bitcoin is digital gold, and it will serve as a store of value as the fiat system implodes.
Jim Brandon bitched out yesterday and refused to do energy sanctions or a ban from the SWIFT system for Russia, because everyone understands what I told you: it hurts the West a lot worse than it hurts Russia. These sanctions – which are already drawn up and ready to go – would trigger a downward spiral of the entire Western order.
Or, rather, they would speed it up. We’re already in the spiral, and it can’t be stopped.
The only thing that could lead to a serious drop in Bitcoin is a US government ban, which I don’t think is likely at all, but which is technically possible. But even that wouldn’t destroy it.
It’s not a coincidence that while the West is contemplating sanctions against Russia, Russians are all talking about Bitcoin and the government is setting a framework to legalize it.
This is not a financial advice site. I don’t give financial advice. But it isn’t financial advice to say “don’t hold dollars” any more than it is giving someone directions to say “don’t step in front of that bus.”
I believe that Bitcoin will decouple from the stock market completely in the near future, and I believe that a lot of this money that is being printed by the US government is going to flow into Bitcoin. It is just the basic rational analysis.
Both the suicide sanctions and doing nothing lead to destruction of the dollar. Doing nothing is going to result in China taking Taiwan. Probably. I don’t see why they don’t just do it right now.
If China does take Taiwan, I think all faith in the US collapses completely, therefore the dollar collapses, therefore the war machine cannot be funded, therefore we enter into a full collapse of empire as all of our client states move to make deals with the Chinese.
I don’t think in that situation, your property rights are going to be really very well respected in a lot of places in the United States. The federal government will ultimately collapse, and then you’ll be left hopefully with governors and mayors and sheriffs on down the line maintaining order on a local scale. Of course, the big urban centers will be largely doomed – probably all of them, because they just have too much diversity, and are reliant on overcomplicated supply chains.
