> All the while, many of us are sitting in cryptocurrency. And this could be a saving grace.

you'll need the power on and the networks running for that :) -- but yep, i'm stocking up the supplies! :) great post, reshared. upvoted (still reading btw. ...)

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All fiat currency has a shelf life, this includes the dollar as it is a fiat-based currency. America continues to print the dollar into infinity constantly diluting is value. No matter what happens the dollar will eventually go the same way as the Reichsmark. Bitcoin is global which weakens the effect and control any country has over it. It's only a matter of time before currency becomes global and is not restrained by geographical regions.

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https://www.peakprosperity.com/overdosing-on-crazy-pills/

>What matters during an asset price bubble is not the rational, but the rationalizations.

Greetings, my friend @taskmaster4450... Very interesting and timely your post. When you ask if we are really heading towards a total collapse, I can't help but think of the country where, fortunately and unfortunately, I live, that is, Venezuela. In spite of being going through the biggest economic crisis in our history and, surely, one of the biggest in the world and that can be defined with a very technical but terrible word such as Hyperinflation. The truth is that, as you say, even though there have been localized riots, amazingly people still find something to eat and you don't feel in the streets the sensation of a final collapse. It happens here what you say "Somehow, they managed to prop things up for a decade...". However, in spite of the government tricks, such a system is unsustainable in time. I, for my part, although I am not remotely an expert in cryptocurrencies, I simply connect more and more every day with the economy of the future that began a long time ago. As a professor at a University of the Arts I try to instill in my students the idea that their minds are anywhere the networks allow and that at least they know what all this movement of bitcoins and other bugs is. I recently won a literary contest whose amount, in bolivars, is quite important... Well, I'm not going to let hyperinflation devour my effort, so I'm looking for options in the blockchain... It's very true what you say: "being in cryptocurrency is a great way for people to protect themselves".

>Of course, I'll give my little upvote, resteemit and follow you ;-)

I share a lot of the sentiment here and think crypto is the future. However if panic sets in, how is crypto going to help if the world is not ready to accept it as a viable form of currnecy. If there is a massive crash I think people will start pulling out of crypto short term to trade it in for liquid cash to buy daily products, not the other way around. A global recession would hurt crypto short term but i think long term it would open a lot of eyes.

I want to give some input on this.
There are basically 3 different counts for the DOW and S&P500 each.
They are pointing to different years for a crash to occur.
1. count says a big (at least 50%) crash will happen within 6 months
2. count says a big (at least 50%) crash will happen in two years.
3. count says a big (at least 50%) crash will happen in 10-12 years.

It is either or and for now, we cannot see a clear favorite count. It can happen anytime now, that is the dangerous part of the late-cycle.
Brexit, EU-disintegration, USD losing reserve currency status or any war escalation could trigger the crash. 

BUT: I think they are going to desperately print money (and even use helicopter money and central banks buying 50% of all stocks...) until even printing money is not gonna push the stock market higher anymore. So I slightly favor the crash in 10-12 years. But who knows...

The poor will be the best at managing life after the collapse.  And the ones that stand to survive the easiest... 

But yeah slot of people are not going to make it.  And the world went pretty soft for American people...

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A bad global recession /depression is about to happen within 2 years... probably end of 2020 into 2021. I’ve been prepared haha

However, I see huge opportunity at this time. Everything will be cheap lol

It’s just a matter of when their market manipulations just stop having an effect, that’s when it will come crashing down and crash hard.

Let’s all hope we are prepared for when that day arrives. 

The only thing that makes the US dollar a stronger currency than the rest of them is that it is backed by military enforcement of oil trade reserve status per Breton Woods (as you well know)... I wonder though, if the "economic engineers" haven't actually generated the impending collapse scenario on purpose?

My thought is, they have to see it coming down and all of their manipulations really just amount to being able to choose the hour of doom really. So long as the enforcement of USD as oil trade reserve is maintained, the demand for dollars will always be higher than any other medium of exchange.

So, the bad credit situation and eventual inability to service the interest on sovereign debt, if it led to a default... could only be salvaged through a fiat reset whith "forced" compliance on the global creditors (the "illumined" of which will have already pre-positioned for that event).

You'd need a starving majority population of Bolshevik level dependance on the state for that to go over well... something where the masses are duped into unwittingly demanding the government issue a credit reset (which would destroy anyone's wealth who didn't get pre-positioned for such an event).

Commodities like gold and silver would be these "elites" obvious choice... I wonder about crypto too... I dunno... hard to speculate... but I DO feel like the vultures have long planned for their next feast and nothing is happening randomly from simple "normal market forces."