During sovereign debt crises, powerful countries have a lot of tools of financial repression available to block the exits.
But it’s hard to know how competent they will be at wielding them.
Best to plan and build for the worst. It’s always better to be surprised in a good way than a bad way.
Lyn I’ve got as much bitcoin as I could acquire whilst staying solvent. Done my best. Let’s see what breaks…
my body is ready
They probably won’t be very good at it. The cat is out of the bag.. p2p exchange is here to stay!
I fear a 6102 attack because I didn't know about the danger of KYC until recently. They will get lists from the exchanges and dispatch goons to collect. Not sure what to do then other than to flee the US, but don't have a another location ready.
The good news is that 6102 required a supermajority to get into effect and withstand court challenges. Like 70% of Congress was controlled by one party.
-Split government reduces chance of extreme outcomes like that.
-Need to support Open Sats and stuff for legal defenses.
-Should have a 6102 plan.
What about how they got Patriot through? Things have changed a lot since the gold confiscation order. Even when it's not even technically legal, like the lockdowns. They don't need no stinkin laws no more. They just tell the media to tell everyone it's for their sicherheit and game over.
I lost my keys. ¯\_(ツ)_/¯
Lyn would you zap me the 69k Sats you got by writing those 3 sentences?
I would really appreciate :-)
Greetings from Switzerland!
I can see the “then they fight you” stage coming. Yep, gotta build to withstand it.
And then we win.
One of my touch point for understanding bitcoin before it existed was writing a thesis to graduate for college about capital controls during the East Asian financial crisis of 1998. When I understood the bitcoin completely circumvented these controls, a real light bulb went off for me.
Do you have any insight on why Silver, and Gold to an extent, have taken such a hit the last week+?
Bitcoin doing well! 👍
....I guess I could've have zoomed out a bit. Not that out of of the norm really.
Just on this…Super curious to see the narrative with 10y at 6.50% and Bitcoin at $69k again.
I’m guessing tough to call it a “risk asset” if it can trade the same price in USD with 10y at 0% and 6.50%. Thoughts?
Something I think about every day. Even living in the U.K. what are our options. Multiple bank accounts from many different jurisdictions. I also just want to say- thank you for being in this world. Bitcoin needs you. 🙏
Prudent individuals and communities should strengthen local networks to weather the coming storm. While the precise timing remains uncertain, resilience comes from laying proper foundations in advance. A key aspect involves increasing involvement with one's local community and forging bonds of cooperation. Joining area organizations and neighborhood groups can foster mutually beneficial relationships and support systems invaluable when the currency buckles. With shared purpose, communities enhance their capacity to withstand the crisis.
A lesser known fact, that during a sovereign debt crisis - Uber drivers don’t get a nice tip for longer than usual rides.
When Americans talk about wanting a wall on the Southern border to keep the illegal immigrants, particularly the criminals, out, although I am sympathetic to the thought, I always think that walls can keep people in as well as keep people out and I'm much less interested in a wall.
