I just finished “the mandibles”, hyperinflation is a ugly monster that brings out the worst in people
Discussion
Spoiler alert: in the story, New York became a nightmare: no water, no foods, the internet in the story suffered major outages, people turned into thefts, crimes, prostitudes just to survive. Bitcoin cannot fix this, so getting out of big cities the sooner the better.
Moving to a farm maybe the best solution in the short term. I thought about it too and planning to buy a small farm. But the story, eventually the farms got nationalized because of high food prices 🥲
Gold, gold miners in hyperinflation would be confiscated immediately. Should we still own gold? If there is no internet for a short time, small amount of physical gold is easier to hide and can be useful in some cases.
Just today there is a prediction for hyperinflation in 90 days with $1M Bitcoin, it is not a pretty future guys, even for Bitcoiners. I hope it will not happen as fast.
Gold is only really useful for a “get out of dodge” asset.
Wouldn’t be holding any significant amount of wealth in it, Bitcoin will appreciate much faster and in most circumstances will be easier to use, sell, or travel with.
They took it all once before. 1933 if I remember correctly. Then the gov issued a non redeemable credit to the fed for all theirs to zero out thier balance sheet. Insanity