Replies to post #22516 on Cycle Trading

[jaws57]

Ive seen/heard different versions of the Great Reset. The elimination of cash is a common theme. There are some versions that are way out there.
One world government, depopulation of the planet down to 2-3 Billion, etc.
Scary stuff.

[Duma]

I see these kind of articles all the time and every time their solution is

"The only solution is to use a non-digital, non-bank store of wealth that cannot be traced or manipulated. Given the planned dollar devaluation, it’s one more reason to own physical gold and silver."

While I fully believe that a reset is coming, I don't believe for a second that buying gold is the only solution. Is it possible for the government to do away with cash. In principle yes, but I think it is a stretch to think they can make it happen. For myself I am already cashless, so no effect on me. The only time I use cash is when I am buying or selling something from/to an individual. I just sold an old set of tires for $300, my only cash use this year. Oh I forgot I did leave a $5 tip last week, because someone else bought my lunch. But you get the point. That $300 cash I got from the tires will last me easy 6 months.

So for me, you and all the other people who have more than two nickels to rub together, we are already in a cashless society and the government knows exactly where all my money is. And right now politicians are working on schemes to come get part of it. The good news for me is that the monetary level from which they want to start taking money is way above me. I think $100M income was used for one scheme I heard of. If I was a Jeff Bezos, I would be worried.

What I really worry about is if the government starts to tax assets above the current level of cars, houses, and business property. If they would start to say tax cash at 1% per year, that would really be a disaster. And in a way that is what inflation is doing. But we can offset that by investing in the stock market and assets (houses) that go up with inflation. One of the main reasons for leaving Texas was because of the 2% tax on houses. In AZ I now pay .4%. Big difference. I do pay a state income tax, but it is pretty small for me.

So for me the "big reset" will have nothing to do with a cashless society, but a bust in the stock market which I am fully prepared to meet. I have a plan but very different from Cathy's.

Ask those who owned gold in 1933 how that turned out.