Can't speak for anyone else, but I'm still turning profits on my Bitcoin investment. That aside, I get what you're saying, but got to say that I also distrust a sound money system as well. Think in times like this money/currency isn't what's really important to most folks, but rather resources/weapons/adequate consumables supply/medications etc that most people would want to have on hand.

@SpikeTalon Not sure how you are turning a profit on Bitcoin, unless you are selling it before it all goes down, since it is entirely dependent on FED pumping fiat into the system, and that is the problem. Bitcoin is just like Fiat a giant ponzi scheme, but its still a lot smaller ponzi than fiat, so you really can't use it as currency, you can't use it for any practical purpose in a reliable way, you can only gamble on it, that tomorrow you will find someone who is willing to buy it for higher price and you will make a profit. Its like tech stock, and in fact on the stock market bitcoin follows lot of the tech meme stocks in terms of movement up and down. Just make sure you don't end up holding the bag, when it crashes. It has no intrinsic value it entirely depends on gamblers who in turn depend on FED keeping them on life support.

"That aside, I get what you're saying, but got to say that I also distrust a sound money system as well."

I'm not clear why you distrust sound money, but perhaps you can expand on that.

"Think in times like this money/currency isn't what's really important to most folks, but rather resources/weapons/adequate consumables supply/medications etc that most people would want to have on hand."

That's true. However you can't really build wealth or preserve it if you don't relay on sound money. The price of these things such as resources/weapons/adequate consumables supply/medications etc. go up now because of too much fake fiat being created.

US has been living for many years above their means, not because they were smart or hard working, but because of fortunate geopolitical events, such as WWII and other wars and because US has been doing regime changes and bombing anyone who wanted to get off the dollar system that US controls. In effect most of the countries in the world were kept in slavery to US debt so that US and upper classes in the US can live above their means.

But that is in nominal terms. In real terms, US has been bankrupt, had deficits (spending more than they create) since the 1970's. Now just the national debt is nominally over 31 trillion dollars, and US went from being the biggest Creditor nation to being a biggest debtor nation in the world. Americans are living in borrowed time. It US stuck to sound money, this would not be the case.

Furthermore, the only way to preserve wealth is sound money and to some extent other commodities that people need, but in terms of money its previous metals, gold in particular. All else is inadequate as wealth preservation.

You mentioned resources/weapons/adequate consumables supply/medications etc. You have to trade something for that, and unless you take it by force from others, you have to trade for something of actual intrinsic value. US has not being doing that. And eventually, there will be price to pay for that kind of behavior.

Your children if you choose to have any or already have and certainly future generations will have to pay back all the debt created by boomers and other generations living a life of a consumer. Its not possible to ever pay it back in nominal terms, since no one can actually create that kind of money to pay it back, but good times are coming to an end, for many many many generations to come. And weather they like it or not, only way out of it, will be lot of hard work, sweat, blood and tears and sound money system.

You can't have something for nothing, unless you risk everything.

@SpikeTalon
P.S.

You know people claim bitcoin will go to million dollars. I think they might be right, the only problem is that by than eggs will cost two million dollars, so much like in Zimbabwe everyone will be a millionaire and dirt poor.

If it wasn’t for politicians and central bankers finding it impossible to resist either using currency as a tool for economic management or simply as a source of funding government spending, the distinction between money, which evolved into gold through market forces, and currency, always a creature of the state, might not matter.

But the British economist John Maynard Keynes, quoting Lenin said: “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which not one man in a million is able to diagnose.”

Germany's 1923 Hyperinflation: A "Private" Affair by Stephen Zarlenga

[alpheus.org]

Modern monetary economists define hyperinflation as any inflation rate above 50 percent per year. In the 1920s, Germany had inflation rates in the thousands of percent.

Far too many German marks were being created under the privately controlled Reichsbank. Exactly how, will be discussed shortly. These excessive issues drove down the value of the mark:

By July 1922, the German mark fell to 300 marks for $1; in November it was at 9,000 to $1; by January 1923 it was at 49,000 to $1; by July 1923, it was at 1,100,000 to $1. It reached 2.5 trillion marks to $1 in mid-November 1923, varying from city to city.

These days its just ones and zeros, so "money" can't be even used for toilet paper, starting a fire or wallpapers anymore and when people rush to the ATM's to draw cash way or try to transfer from bank account they will find it closed. Same for crypto.

Than all hell will break loose on the streets and barter and black market will be back in fashion for a while.... until one day, goverment has no choice but to go back to sound money and start over.

And sure it will be something we won't forget...