How will silver help against CBDC’s

[Bigmarc]

6 hours ago, LemmyMcGregor said:

SPot on, one of the reasons I have started brewing.

I worked in Romania a few years ago. In their version of b&q's they sold these massive copper distillery units. I think it's a big side hustle there. Always made me think, is it because of the troubles they have had in the past.

[LemmyMcGregor]

56 minutes ago, Bigmarc said:

I worked in Romania a few years ago. In their version of b&q's they sold these massive copper distillery units. I think it's a big side hustle there. Always made me think, is it because of the troubles they have had in the past.

Probably, you couldnt get anything in shops, so you had to make it home and alcohol is easy to make, all it takes is anything loaded with sugar, which means any plant.

[goldsilverdash]

12 hours ago, GoldDiggerDave said:

Silver and gold will not save you against CBDC's.    And I'm saying this as someone who hates the idea of CBDC's and holds PM's.     You will not be able to escape the total control of CBDC's no matter how much you protest or don't like it, CBDC is 100% total control,   you will either have to comply or be kicked out of the system.   Try and spend a 1oz silver round today anywhere even if you try and spend £1.50 for example and you give them something thats worth about £18 99.99% of people would refuse the transaction as they don't know what it is,  if it's a British coin you could try and pass it off as £2 the face value but in almost all cases most will not accept it.   Yet when this whole encompasses new system kicks in all because you don't like it the masses will start to take silver?..........You are dreaming, it's like saying silver will go to the moon we have all herd that BS when it's plain for everyone to see it has not keep up with inflation, yet you still cling to the idea it will save you or make you rich.......Time to wake up folks!   Those magic beans you have been buying are not magic.     What this looks like is wishful thinking you have bought into PM's and you want to dream up scenarios to justify your purchase.   

I openly challenge anyone  in a barter situation I can barter cigarettes, alcohol, and medicine far more easily than you can with bars of silver.

You will probably never be able to spend silver coins in shops like you spend units of fiat currency today, but you might well be able to trade silver and gold for goods and services amongst your neighbours or in local barter networks (even in situations where the regular shops are empty or closed down). CBDC's will not wipe out the barter economy. Common barter items like you mention will probably be easier in most cases, but silver and gold may have a place as well (And decentralised, private digital currencies too.)

Silver and gold will not make you rich, but it will never become totally worthless like our national fiat currencies well might.

[GoldDiggerDave]

10 hours ago, goldsilverdash said:

You will probably never be able to spend silver coins in shops like you spend units of fiat currency today, but you might well be able to trade silver and gold for goods and services amongst your neighbours or in local barter networks (even in situations where the regular shops are empty or closed down). CBDC's will not wipe out the barter economy. Common barter items like you mention will probably be easier in most cases, but silver and gold may have a place as well (And decentralised, private digital currencies too.)

Silver and gold will not make you rich, but it will never become totally worthless like our national fiat currencies well might.

If you hand almost anyone under 40 a sovereign or a 1oz gold round they don't even know what it is.......I have done this experiment I handed a 1oz gold round to 5 different people and all of them asked if it was gold, and they all thought it was worth £100 the face value of the coin.  If one side of the party is clueless to what is being bartered it's never going to be bartered is it?  How many of your neighbours want or need a silver of gold 1oz round.?

Folks!   As much as I like PM's  99% of the population don't even know what it is even less will know if it's genuine. 

@goldsilverdash try exchanging 1oz of silver for goods and services today might as well have a trail run.  Go into a shop, or try and swap a 1oz silver round for a few tins of soup with your neighbours,  Would love to see how you get on!

People are just inventing scenarios, or just repeating the same  mindless dross they have herd time and time again on Youtube or Facebook to convince themselves that their PM's will save them when the worse happens.........It won't, its even worse as it will lull pm holders into a false sense of security, try trading your stack in a barter situation you are more likely to make yourself a victim of crime as the other party might just take if from you, especially if you look at the age of people who hold PM's how much of a fight are they going to put up?   

I see PM holders wishing for a "Great Reset"  many of them would not survive a few weeks of turbulent social breakdown.  

P.S I think  it was Sweden or Norway government telling their population to hold small change incase the electronic payment system fails as this is the  best option for trade.  

 

 

 

[bluemoon]

PMs were never a shield from an SHTF situation, whatever those grifting YouTubers might tell you. PMs are only a store of wealth - it really is as boring and unexciting as that. When CBDCs come along, the PMs will still store your wealth but a big shift in public consciousness would be required for PMs to be accepted as alternative payments from CBDCs. Maybe if CBDCs prove exceptionally unpopular, but I doubt the public have it in them.

[goldsilverdash]

1 hour ago, GoldDiggerDave said:

If you hand almost anyone under 40 a sovereign or a 1oz gold round they don't even know what it is.......I have done this experiment I handed a 1oz gold round to 5 different people and all of them asked if it was gold, and they all thought it was worth £100 the face value of the coin.  If one side of the party is clueless to what is being bartered it's never going to be bartered is it?  How many of your neighbours want or need a silver of gold 1oz round.?

Folks!   As much as I like PM's  99% of the population don't even know what it is even less will know if it's genuine. 

@goldsilverdash try exchanging 1oz of silver for goods and services today might as well have a trail run.  Go into a shop, or try and swap a 1oz silver round for a few tins of soup with your neighbours,  Would love to see how you get on!

People are just inventing scenarios, or just repeating the same  mindless dross they have herd time and time again on Youtube or Facebook to convince themselves that their PM's will save them when the worse happens.........It won't, its even worse as it will lull pm holders into a false sense of security, try trading your stack in a barter situation you are more likely to make yourself a victim of crime as the other party might just take if from you, especially if you look at the age of people who hold PM's how much of a fight are they going to put up?   

I see PM holders wishing for a "Great Reset"  many of them would not survive a few weeks of turbulent social breakdown.  

P.S I think  it was Sweden or Norway government telling their population to hold small change incase the electronic payment system fails as this is the  best option for trade. 

I don't disagree, the knowledge level of the general population is abysmal. And there is indeed a lot of mindless dross within the PM community, so it is great that we put on our sceptical glasses when watching YouTube stackers and the like.

It is also excellent advice to try and establish trade relations with your neighbours now, ahead of any economic problems that might make this the primary way of getting certain goods. Metals may not be the first thing to try though, maybe to start with other things? Or why not try to buy things with metals from people within the PMs community?

I certainly don’t believe that silver and gold is the magic solution to all economic issues, but I do think that it can play a role.

It is true that the Swedish authorities officially recommend keeping some cash at home in case of a breakdown of digital payments. Personally, I do have a cash reserve in Swedish currency. And some Euros and Danish currency as well, as I live close to Denmark.

Edited November 10, 2022 by goldsilverdash

[SidS]

5 hours ago, goldsilverdash said:

I don't disagree, the knowledge level of the general population is abysmal. And there is indeed a lot of mindless dross within the PM community, so it is great that we put on our sceptical glasses when watching YouTube stackers and the like.

It is also excellent advice to try and establish trade relations with your neighbours now, ahead of any economic problems that might make this the primary way of getting certain goods. Metals may not be the first thing to try though, maybe to start with other things? Or why not try to buy things with metals from people within the PMs community?

I certainly don’t believe that silver and gold is the magic solution to all economic issues, but I do think that it can play a role.

It is true that the Swedish authorities officially recommend keeping some cash at home in case of a breakdown of digital payments. Personally, I do have a cash reserve in Swedish currency. And some Euros and Danish currency as well, as I live close to Denmark.

My view on gold and silver is that it's greatest use is not for barter but to preserve wealth over a transitional phase from one failed fiat currency to its replacement fiat currency. Gold and silver come into their own once the system has settled down. When everyone else's savings have been wiped out, yours will be protected - although with CBDCs it will all be tracked and no doubt taxed.

Edited November 10, 2022 by SidS

[bluemoon]

On 08/11/2022 at 23:21, gji25 said:

thats how you carry it around in your pocket 🤣

 

I make each 1g to be about this size:

Tiny but could work as the lowest denomination! Currently worth about 60p.

Edited November 10, 2022 by bluemoon

[HerefordBullyun]

29 minutes ago, SidS said:

 be tracked and no doubt taxed.

that tax will be automated via AI.....

[LemmyMcGregor]

8 minutes ago, bluemoon said:

I make each 1g to be about this size:

Tiny but could work as the lowest denomination! Currently worth about 60p.

If only there was a practical way to carry your silver with you in handy pocket denominations...

 

[goldsilverdash]

1 hour ago, SidS said:

My view on gold and silver is that it's greatest use is not for barter but to preserve wealth over a transitional phase from one failed fiat currency to its replacement fiat currency. Gold and silver come into their own once the system has settled down. When everyone else's savings have been wiped out, yours will be protected - although with CBDCs it will all be tracked and no doubt taxed.

There's the incentive right there to try and exchange your metals for goods and services directly without first selling it for a CBDC - to avoid being tracked and taxed. What they don't know they cannot control or tax.

[SidS]

16 minutes ago, goldsilverdash said:

There's the incentive right there to try and exchange your metals for goods and services directly without first selling it for a CBDC - to avoid being tracked and taxed. What they don't know they cannot control or tax.

True but as pointed out above, a large percentage of the population are clueless about PMs.

[flyingveepixie]

Some of the posts on here are just plain daft.  Trade PMs with my neighbours??  Really??  Given that most of my neighbours are a worthless bunch of moronic cretins with no practical skills and for the most part no purpose in the world other than to sit farting in front of their TVs in between visits to Macdonalds, why on earth would I want to trade with them, and for what?   Some utterly ridiculous fairytale ideas coming out on here I'm sorry to say.

99.99% of my idiot neighbours wouldn't know what a silver or gold coin was if they fell over it. Even if they did know what it was they would have no use for it,  and I'd bet that's probably the case for 99.99% of the rest of the country.

Barter might work in some scenarios but if or when CBDCs are introduced they will be sold as a saving grace and a solution to every problem, they will be pushed hard by the goverment and their lackeys in the news media as something absolutely wonderful,  and welcomed with open arms by the average grinning idiot.  Most of them are more than halfway into their shackles already with their Apple Pay, their Paypal,  and all their social media apps and all the rest of it.

Edited November 11, 2022 by flyingveepixie

[goldsilverdash]

8 minutes ago, flyingveepixie said:

Some of the posts on here are just plain daft.  Trade PMs with my neighbours??  Really??  Given that most of my neighbours are a worthless bunch of moronic cretins with no practical skills and for the most part no purpose in the world other than to sit farting in front of their TVs in between visits to Macdonalds, why on earth would I want to trade with them, and for what?   Some utterly ridiculous fairytale ideas coming out on here I'm sorry to say.

99.99% of my idiot neighbours wouldn't know what a silver or gold coin was if they fell over it and I'd bet that's probably the case for 99.99% of the rest of the country.

If it was that few who valued gold and silver, there would not be a market for it.

[goldsilverdash]

14 minutes ago, flyingveepixie said:

Some of the posts on here are just plain daft.  Trade PMs with my neighbours??  Really??  Given that most of my neighbours are a worthless bunch of moronic cretins with no practical skills and for the most part no purpose in the world other than to sit farting in front of their TVs in between visits to Macdonalds, why on earth would I want to trade with them, and for what?   Some utterly ridiculous fairytale ideas coming out on here I'm sorry to say.

99.99% of my idiot neighbours wouldn't know what a silver or gold coin was if they fell over it. Even if they did know what it was they would have no use for it,  and I'd bet that's probably the case for 99.99% of the rest of the country.

You need to choose your trading partners (and neighbours) with a little more care.

[LemmyMcGregor]

17 minutes ago, flyingveepixie said:

Some of the posts on here are just plain daft.  Trade PMs with my neighbours??  Really??  Given that most of my neighbours are a worthless bunch of moronic cretins with no practical skills and for the most part no purpose in the world other than to sit farting in front of their TVs in between visits to Macdonalds, why on earth would I want to trade with them, and for what?   Some utterly ridiculous fairytale ideas coming out on here I'm sorry to say.

99.99% of my idiot neighbours wouldn't know what a silver or gold coin was if they fell over it. Even if they did know what it was they would have no use for it,  and I'd bet that's probably the case for 99.99% of the rest of the country.

Barter might work in some scenarios but if or when CBDCs are introduced they will undoubtedly be sold as a saving grace, pushed hard by the goverment and news media as something absolutely wonderful,  and welcomed with open arms by the average grinning idiot.  Let's face it, most of them are more than halfway there already with their Apple Pay, their Paypal,  and all their social media apps and all the rest of it.

Burglars tend to know well the value of precious metals, not sure if that's the right company that you'd want to advertise to though...

[CANV]

I like to move every ten years. Buy a wreck n do it up.  Our current project will be our last as it’s the last time I reckon cash will be useful.    Cant see my builder wanting a pouch full of silver n gold 

[Bigmarc]

2 hours ago, flyingveepixie said:

Given that most of my neighbours are a worthless bunch of moronic cretins with no practical skills and for the most part no purpose in the world other than to sit farting in front of their TVs

I have noticed lately on the telly that there seems to be loads of programs promoting apprenticeships, practical skills and factory working. Seems to be a shift from doctors, nurses, police and vets. I think there is a massive lack of practical skill in this country. I try to do most myself but have been trying to get someone to repair my roof and have a look at my boiler. No luck all busy till next year. 

Cbdc's will win in the end so may as well go with it. Silver and gold, I would say is almost a generational thing. Anyone under 40 here? Probably the easiest thing to store, sell and admire. Crypto (as fun as it is) is like the wild west. All the trouble lately was caused by one man and one tweet, imagine what the government can do when the time is right. I think the best thing is to just learn skills, carry on spreading wealth out and cash out into cbdc's when the time is right. Pay tax (we all have to do it). To have a comfortable life sometimes you just have to follow the rules. 

[PhilOdgny]

11 hours ago, bluemoon said:

PMs were never a shield from an SHTF situation, whatever those grifting YouTubers might tell you. PMs are only a store of wealth - it really is as boring and unexciting as that. When CBDCs come along, the PMs will still store your wealth but a big shift in public consciousness would be required for PMs to be accepted as alternative payments from CBDCs. Maybe if CBDCs prove exceptionally unpopular, but I doubt the public have it in them.

https://cryptoslate.com/enaira-cbdc-a-massive-failure-despite-nigerian-central-banks-claims-to-the-contrary/

[goldsilverdash]

1 hour ago, Bigmarc said:

Cbdc's will win in the end so may as well go with it.

I think it is by no means obvious that Cbdc's will win. And what does "winning" even mean in this context? Cbdc's will probably come, but it will not be exclusive. I think rather that the future will be one of diversity, monetary pluralism. Decentralised digital currencies are not going away, various private corporate currencies will probably exist, local community currencies will continue, gold and silver bullion is here to stay, etc., and maybe even new forms of money not yet invented?

 

[Bigmarc]

53 minutes ago, goldsilverdash said:

but it will not be exclusive

The majority of people will spend whatever they get paid in and it will stop there. Every other crypto will have its own uses, (international payments, third world currency, app utility) which I can see will keep the industry thriving but in our part of the world it's already being destroyed by central enterties trying to control a decentralised platform almost making it useless for mass adoption. At the end of the day the government wants paying, that's why they have regulated the exchanges and not "yet" touched crypto. They would much prefer to take some of your profit than you keep your money in the bank. It's a win for them regardless. 

[EdwardTeach]

5 hours ago, Bigmarc said:

Cbdc's will win in the end so may as well go with it.

That’s a rather defeatist attitude. I’m certainly not going to make their life any easier than necessary by just giving in straight away without even trying to reject the adoption of CBDCs first. I also think that ultimately their CBDC plans have a high chance of failing sooner or later (one way or another).

The best way to stop it from happening is to tell lots people about them now. The more people who understand what a CBDC is and how they will stifle our freedoms the more that people will reject their adoption when governments try to roll them out. So spread the word and tell as many people as possible about them.

[Bigmarc]

47 minutes ago, EdwardTeach said:

That’s a rather defeatist attitude

On this occasion yes. Just like to pick my fights that's all. Follow the heard, join the que, it's the British way. Just look at the stop oil lot, they are trying to make a difference and everyone hates them. Why? Because they are disrupting the status quo. I spent a lot of my younger years being p*ssed off with the system, even went on some marches and it's mentally tiresome and a waste of time to be frank. No doubt if we were french it would be a different story.

[Roy]

If CBDCs are going to be a thing (they probably are) then they will be blockchain based.

Blockchain requires internet, internet requires electricity....buy commodities!

The Stop Oil lot are wasting their time. And probably yours too.

[Bigmarc]

With cbdc's at least there may be some sort of law. Just reading that tether has frozen 46 million held on Tron Blockchain following a "request" from law enforcement. I think gold and silver have a great future, I will buy some more with my crypto profits as long as it doesn't get switched of at some point. 

https://www.coindesk.com/business/2022/11/10/tether-freezes-46m-of-usdt-following-law-enforcement-request/