US & Global Economic Collapse Explained - Will It Happen & What Can You Do?
Deutsche Bank will blow up first and every thing they owe is on another bank's balance sheet as an asset. When they collapse and default, those other banks will suddenly fall below their capitalization level and go bankrupt as well, and the debts they default on will be removed from the asset side of other banks and corporations and the catastrophe will spread, wiping out everything.
But if you have assets like precious metals and bitcoin you should do better than most. When we have our next big freeze up in the financial system, the feds may not be able to print enough to get the system running again. When that happens you will be surprised how fast creditors start accepting lightning network bitcoins for payment.
In my case my career as a heavy diesel truck mechanic is nearly depression proof. I have bitcoins, silver, gold, buckets of wheat, beans, freeze dried food, medications, backup power storage, inverters, charge controllers and solar panels. Water storage, water filtration, and a big box of powdered chlorine that I can use to mix up hundreds of gallons of bleach which can be used for water purification. I also have guns, ammo, and 14 FRS/GMRS radios that I can use to organize my neighborhood, block off the street and I know exactly where to put the snipers. Lets hope things don't get that bad.
I think this is just another reset. Every 7 to 10 years the banksters run the economy over a cliff then profit from the crash. In crashes stocks and real estate fall and precious metals tend to go up. Last time around I took advantage of the crash, selling half my silver for a nice profit then bought my house at a huge discount. Now my house has gone from 160k to 300 or so. It's possible to take advantage of these cycles.
I do not feel the next collapse is going to be anything like the previous shit waves.
The Wymar Mark went into hyperinflation because the money had other places to go.
In the words of Young Einstein: "Its an atomic bomb, there is no where to run to."
It also looks like we have actually entered the greatest depression. (Mike Maloney has good charts on it) You know, make america great again.
Sheep are going to hit the fan from every single angle.
I often feel that there will be so much calamity, that things will almost seem normal. Like, no one noticed the banks had failed because the hurricane knocked out the power.
I do not feel we are going to see the mad looting you normally see in such monetary destructions... its going to be like little wars... everywhere, but not all at once.
I would like to say to go out and start a farm and plan not to leave, but i do not feel there is going to be any safe spaces. If the mad mobs don't get ya, the po-po will.
Just keep all bases covered.
Buy food, it is currently paying 12% per year, and you can eat it.