re: is the market going to crash, and should young people invest in gold and crypto?

quote:

---

I got into crypto a little in 2018 and the more removed I am from that time, the more stupid it all seems, only people making real money (funny how we still judge it by the REAL currency right?) off bitcoin are the people who were there in the beginning.

---

Know how I know you know nothing about numbers?

quote:

---

Some major companies are accepting crypto payments nowadays.

---

Only as substitute for USD and at fluctuating exchange rates, no one is pricing in BTC and that is what keeps it from being a currency, it is simply a trade good for bartering.

quote:

---

if the entire American economy crashes for an entire generation gold and crypto will be worthless.

---

Your take is important, and represents a lot of peoples mindsets, but it doesn’t have to be so binary. It’s not like we would jump to that point from this point. There will be many stops along the way. People don’t have to lose all their money, all together, all at the same time. There are things people can do to protect their assets, and hedge their risk. And there will always be people who will be making money as everyone loses money.

It is more likely that the economy will collapse than it won’t collapse. As history shows It has happened hundreds of times in the past. What are the chances that it happens in ones lifetime, and how great will that event be, is to be the determining factor on how you much you hedge against that risk.

It’s important in anything we do to think about worst case scenario’s and have a plan for them.

quote:

---

If the entire American economy crashes for an entire generation gold and crypto will be worthless.

If you’re legitimately worried that the entire American economic system is going to collapse go stock up on farming supplies and bullets

---

I remember something that an Econ professor told us when I was in college: "They say that he who has the gold makes the rules. But he who has the gun makes the rules for he who only has gold."

That kinda stuck with me.

wonder if he would feel the same way now considering:

1. JP Morgan is part of the central bank / Fed Reserve cabal

2. We left the gold standard a loooong time ago, and loooong after he passed

quote:

---

JP Morgan said "Gold is money. Everything else is credit."

---

No, he didn't. That is a myth that has endured longer than what JPM actually said.

He was testifying before congress in 1912 and was asked, "But the basis of banking is credit, is it not?"

J.P. Morgan answered, "Not always. That is an evidence of the banking, but it is not the money itself. Money is gold, nothing else."

LINK