Is this it?

Yes. It is absolutely coming.
Every single government is MASSIVELY in debt, to an unsustainable level
Consumers are in debt to an unsustainable level

30 million Americans are unemployed and we are still in a stock bubble - the bubble officially started popping September 1 when the Tesla crash started - it has only just begun.

Congress isn't going to pass a stimulus until after the November elections, as they'll be looking at July / August unemployment numbers and think that it's unnecessary to do so / bipartisan compromise will never happen going into this presidential election.. Little does Congress realize that a stimulus was priced in, and when it doesn't occur, the market is going to absolutely shit the bed, just like March

The music is going to stop playing soon..

We already saw the yield curve invert one year ago - in other words, this economic crisis was already coming with or without coronavirus; coronavirus is going to make it 10x worse

We will probably see a currency reset within the next 2 years

The banks also learned literally nothing from the 2008 crisis - bank behavior did not change whatsoever

This is so bullish for crypto

based boom humor poster

Exactly as the Chinese planned. Why would a mild pandemic suddenly happen the year the US was gearing up for another end to the financial cycle? They saw fire and threw accelerant on it.

you mean gold. your crypto will be worthless

>you mean gold. your crypto will be worthless
oh yeah let me just make instant transactions with gold across the globe. you know you can have both right?

Yes we'll be trading gold coins.

>Every single government is MASSIVELY in debt
They have always been in debt. You need debt to create money. Every Dollar has assigned debt to it.

well know, we'll be trading junk silver or copper, unless you're buying homes or land.

During a MAJOR economic crisis, people are not looking to put money into what they see as a risky asset (crypto)

Imagine you're a boomer whose portfolio just lost 20% of it's value in 2 weeks - are you really going to liquidate your portfolio to buy an asset that you don't understand whatsoever?

Imo, there will be a currency reset, the new currency will be crypto, but it will be backed by precious metals

And for that debt to have value it needs to be bought, and you only buy debt for the return you get on interest. That is a bond. If the interest on the debt doesn't exceed the rate of currency debasement, no one wants to buy it. It's a depreciating asset.

The 70 year Fiat bullrun is coming to an end.

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This is so beyond false and misguided that I don't even know where to begin.

What you need to look at user is debt to GDP ratios & their historical levels

It's also like you have zero understanding of the debt cycle

bbc.com/news/business-54126226

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What is a currency reset? You talking a 1:1 exchange rate in forex terms?

>Imo, there will be a currency reset, the new currency will be crypto, but it will be backed by precious metals
this

When the jews make a new currency for you and cancel all debts.

there are actual people here that believe we will go back to PM backed currencies
LMFAO

You will not be laughing in 2 years, and you will be beating yourself up for missing all the massive warning signs & thousands of Zig Forums posters

>repeat of great depression
>selling for useless debt "money"
pick one

I believe the ultra-wealthy and Pension funds(which consist of mostly bonds) will be moving more and more of their worth into PMs as they start losing money from holding things that depreciate yes. Whether governments consider going back to a PM currency(which was only 49 years ago) I doubt. Probably will jump straight to Fedcoin, but I don't care what they legally designate as valid currency, but what people will want to store their wealth in as MONEY and SAVINGS.

Why would it change? Didn’t your government bail them out?

So then I shouldn't sell because the dollar will turn to shoot? The markets are not looking good right now.

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>makes me worried
That's exactly what they want, goy.

Why sell? It will go down 100% but up 200% right after. So problem?

I don’t think (((they))) want it backed by anything.
It will just be fiat 2.0, in a digital format that they have control over the printing. Kinda like Tether, backed by nothing, but people think it has value so their scam keeps going on.

well the biggest problem so far is just how many people are invested in index funds, employer 401ks - all of these passive investments vehicles that not actively being managed. These investments are set to just "buy" without any real foresight.

Pretty scary considering that active managers have noticed this.

you keep forgetting that humans are more reliant on greed than on common sense, otherwise things like these would never occur.
pms are old and outdated and people who would seriously consider them are losing footing in the market
a new "solution" will be proposed kinda like what this guy says

Somebody needs to provide the liquidity for billionaires to doooomp

Definitely prep for a crash after the elections

every year a new financial fag comes on the headline and predicts a crash. eventually it will happen no doubt about that but everybody is predicting it for years already.

Gold you stupid idiot, not crypto.

>and people who would seriously consider them
Tell me who you think these people are, and their networth. I don't think you have a clue about the people and institutions who have been buying PMs hand over fist since 2008.

So is this the end? Is history over and the new age of the elite breakaway civilisation armed with AI/cybernetics/bio-engineering here to rule over the human cattle-class for the remainder of humanity's existence?