What Are Your Financial Plans?

Bitcoin and other cryptos are ok for investments but I see them more like stocks. Land, PMs and other supplies as well as knowledge is what I see as actual wealth. I have stocks and other financial investments. Some are doing better than others. I try to keep my portfolio diversified. I like commodities. However, I have no doubt that all of the electronic stuff would disappear as soon as the power went out...

 

If the power goes out globally, all financial plans go out the window.

 

If the power EVER comes back on the BTC is still there. It is not centralized. By definition it is NOT a fiat currency. Nobody owns the network and the majority has to agree on any changes. OTHER cryptos are centralized and your argument is valid but not with BTC.

 

Oh it can always get worse.

 

This^^^^ right here. @Sloth posted this in February now in March we see the US seizing Russian citizens property in the United States. There was not a giant uproar after the truckers and folks seems to be fine with seizure of property. It is a slippery slope and there is no stopping it IMO.

 

Yeah, I shocked about the seizure and more shocked that the Canadian public didn't throw a complete fit and throw that runt out of office. I mean, marital law because of a peaceful protest? Insanity!

 

Looks like there is a new question on your tax form this year: did you buy or sell crypto.

There is also a new AMT Alternative Minimum Tax. The difference between a taxpayer's AMTI and his AMT exemption is taxed using the relevant rate schedule. This yields the tentative minimum tax (TMT). If the TMT is higher than the taxpayer's regular tax liability for the year, they pay the regular tax and the amount by which the TMT exceeds the regular tax. In other words, the taxpayer pays the full TMT.

...because inflation by itself isn't enough to crash the country.