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42 sats \ 7 replies \ @Undisciplined 15h \ parent \ on: How many years until fiat collapses? AskSN
I think we're a long way out from all fiat hitting zero. I even think the dollar hyperinflating is probably more than 20 years out.
I'm expecting lots of other major currencies to collapse before then, but the "rush to safety" could prop the dollar up.
You're probably right. That's the most sensible answer, but I like hearing other people's opinions.
Side note, I looked into an IRA that I can roll my old 401k into and pick up spot btc etf. So I have resolution on that now too.
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Unchained Capital has IRA rollovers. And I believe Swan and a few others. You can do direct BTC, don't have to buy the ETF.
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Can I do a 401k into it without fucking myself on taxes?
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Yes, it's not a taxable event just to transfer it.
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Awesome. I'd prefer to have the keys rather than an etf ans it looks like unchained does that, although I'm not sure how that works.
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You 401k fiat savings are handed over to enable bankers to gain greater custody and control of Bitcoins limited issuance- in a form where they expressly prevent and prohibit all Bitcoin held in their custody being used for P2P payments.
Bitcoin as a speculative commodity plaything held by institutional custodians is no threat to fiats MoE hegemony.
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Agree fiat has a way to go but the USD not so much.
5-10 years max.
China has won the trade war and all nations must trade with China or suffer loss of economic advantage.
Historically trade dominance precedes monetary hegemony.
China has already won the trade war.
Increasingly China enables trade payments outside of the IMF/USD/SWIFT system via Hong Kong and probably via its already operational CBDC which was designed to enable an alternative to USD/SWIFT.
With Iran and Russia already onboard only one more major energy exporter needs to move from USD to Yuan trade payments and the petrodollar begins to very swiftly unravel.
Trump is already ceding territory to Chinas military proxies, admitting US exceptionalism is now defunct - and once that snowball of appeasement starts its very swiftly all over for USD hegemony.
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