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Well, this is want American Elites want - so they can buy up the pieces at a discount.
by jacobsenscott 1y ago
Well, this is want American Elites want - so they can buy up the pieces at a discount.
- AnimalMuppet 1y agoI keep hearing this. But for that to work, the elites have to have a bunch of money available, that didn't lose value when everything fell apart. Well, where are they parking that money right now, that won't lose value when everything else does?
- timschmidt 1y agoSwitzerland, Malta, the Cayman Islands, all the traditional tax havens I'd assume.
- science4sail 1y agoTax havens aren't immune to economic disaster though. If the US dollar becomes worthless, then it doesn't matter how many dollars you have in your offshore bank account. Ditto if you're storing wealth as equities or bonds. Real estate value will collapse if tenants can't pay rent or if the local government decides to confiscate land. I suppose that you could keep gold or bitcoin wallets in a vault, but then it actually belongs to the vault guards, not to you. Basically you need a collapse that's bad enough to shrink asset prices but not bad enough to break the social contact.