Is a currency crisis the next big crisis?

 IS A GLOBAL FINANCIAL MELTDOWN NOW BREWING AGAIN?

A HOUSE OF CARDS THAT CAN COLLAPSE AT ANYTIME?

While everyone is preoccupied with the Ukraine war and woke culture, it appears a far more devastating crisis is brewing. Here's a question, Can you go to your bank today and request to withdraw 5 or 10 thousand dollars in cash? While I know most of the local banks will accommodate you,  most of the big national banks will tell you to make a request and you will need to come back later to pick it up. Many of these banks do not have substantial cash on hand. There is in fact only 4% of the total amount of cash entries that actually are backed by paper money. Most everything is just a book entry. Banks at one time needed to keep 10% of deposits on hand, even as a book entry, since the last collapse they do not need to keep any of these funds.

Then it has recently been revealed that the FDIC, the insurer of your bank funds, has $200 billion in assets to cover over $9 trillion in deposits. If there is a crisis, will you be on the list of those who will be actually covered?

It also has been revealed that there is new policy being floated, something that has already happened in other countries, called a BAIL-IN. This is when instead of the Federal reserve bailing out banks that are insolvent, they will be allowed to confiscate depositors money to cover the losses. It may sound far out but is it worth risking your future in trusting that this debt laden economy can survive without someone taking a loss.

Today, if the electric goes out or the internet goes down, the only transactions possible will be with cash. In fact some big stores will not even function with cash. Do you believe the ATMS are working in Turkey today? That is just a local crisis, but what can happen if there is a real global currency crisis?

Paper currency is in fact worthless, unless someone is willing to accept it for trade, digital entries are even more worthless, unless there is a complicated financial system intact. 

Do you  really believe that the current $32 Trillion Federal debt can ever be paid? Or that the $100 trillion in unfunded mandates can be sustained indefinitely? When the day of reckoning comes, you can bet most of us will lose all paper assets we currently own.

Currently most of worlds governments are carrying huge debts, there is now the real possibility of a change in the global economic system being brought about by a growing number of countries apprehensive of the present system. It is just one of the possible events to collapse this present house of cards of unsustainable debt. Remember it is unsustainable, it will need to be reset at some point. Everyone will suffer, but some will be able to suffer less, if they take personal action to protect themselves the best they can.