In 10 Years, Will We Be Using U.S. Dollar, Gold or Bitcoin?

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It's clear the U.S. dollar is on its last legs as the global reserve currency, so will gold or Bitcoin come next as the world’s medium of economic exchange?
It’s clear the U.S. dollar is on its last legs as the global reserve currency, so will gold or Bitcoin come next as the world’s medium of economic exchange?

I’ll trust that you, as the reader, are financially educated enough to know the U.S. dollar is on its last legs as the global reserve currency. There is no shortage of information online about the subject. The U.S. government has started selling MRAPs (Mine-Resistant Ambush Protected) vehicles to every backwoods county in the U.S. for pennies on the dollar. It knows what’s going on, and when the dollar falls, the stuff will definitely hit the fan nationwide, and those machines will be used to control the angry natives.

If you don’t see what’s happening, it’s on you at this point. The future is not being hidden from you, and 90 percent of the puzzle has been completed. If you don’t know, its only because you really just don’t want to know. That doesn’t mean you can’t be prepared to shift gears — or be a step ahead of the game, financially.

The U.S. Dollar will Collapse — It’s fait accompli

If you’ve missed some of the real economic news, I’ll give an update on the state of the world economy. Eastern superpowers China and Russia are burning the midnight oil to accelerate the U.S. dollar’s demise. Not that American economic policy and hubris isn’t the main factor in it. The smart Eastern leadership have had enough of this economic tyranny and is moving to not only end it, but take advantage of it. Massive purchases in gold bullion and natural resources, bilateral trade agreements and new economic partnerships that five to 10 years ago would’ve been unthinkable and new financial infrastructures are now a daily occurrence.

dollar collapseThe latest nail in the dollar’s coffin is China’s successfully release of the Asian International Investment Bank (AIIB) to help fund international infrastructure projects. Besides being another Chinese-backed international banking power, following the BRICS (Brazil, Russia, India, China and South Africa) Development Bank initiative of last year, it has also attracted longtime American “BFF” Great Britain as a founding member, along with more than 20 other countries. Italy, Germany, France, and other heavyweights stand with China’s AIIB venture and take a step back from the U.S.-run IMF/World Bank monopoly.

It’s a wise move to strengthen financial relationships with a country many are already doing bilateral trades with. It’s also evidence that few want to be left holding the U.S. dollar’s bag when the global power officially shifts, so it’s a good time to score brownie points with the next global economic leader. This was also despite pressures from the U.S. to avoid partaking in this alliance. Suffice to say the U.S. was not invited to this global block party. Oooh, burn!

The only questions remaining are when will this dollar collapse take effect, and what comes next as the world’s proceeding mediums of economic exchange. Critics, or what the kids today would call “haters,” have wished Bitcoin into the graveyard for years. Yet, the combination of market demand, superior protocol engineering, growing venture capital, impressive corporate votes of confidence, and “The Network Effect” have led Bitcoin to be somewhat unstoppable as an independent, non-centralized currency. Think of it as a snowball at the top of a mountain. You can barely see it from the valley, but in due time, that avalanche is coming. Bitcoin isn’t going anywhere, in fact, it will only adapt and come faster as more venture capital, app builders, programmers and users come on board.

Gold has been the de facto economic standard since Adam met Eve. It’s as old as the hills, and to many, just as valuable. Economic indexes are commonly built on a value relative to gold, and, of course, the U.S. dollar last had real intrinsic value in 1971 when you could still trade dollars for gold.

That’s not just the U.S. dollar, but the entire world has gone the tragic route of a global fiat currency, the economic prognosis is not good. No. We live in a global economy, and the more your economy depends of a fiat-based currency, which derives value from government regulation or law, the more it will suffer once all this fiat nonsense sorts itself out. Base currency amounts (the amount of circulating paper currency in an economy) are booming in nation-states worldwide. It’s not just an American phenomenon. Every government is debasing its currency because the fiat currency Keynesian economic model is a total failure. Printing more money to buy their way out of a self-inflicted economic prison. Strangely, every country plays the same game, and they’re all playing not to lose, which means they never win.

What will end up happening is the dollar will fall in a few years, Gold will be worth a fortune, in relative terms, and Bitcoin will be the common transactional currency, at least in Western society. There will be other ways to pay for things, but through smartphones and online, Bitcoin will become PayPal 2.0. Even Peter Thiel, creator of PayPal, says Bitcoin is the new currency PayPal was supposed to be. Invest in gold (physical, not EFT), but you’ll use Bitcoin, Litecoin or Dash digital currency for day-to-day transactions.

Evander Smart is a contributing journalist for TheBlot Magazine

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