Thats the best bet.Buy btc and xmr from your couch. You shouldn’t burn more than a couple of calories doing that, contrary to the good advice above from @CyprusLawyer101. Still, that training will become useful when btc reaches $1m and gold diggers show up.
How To Prepare For Another Bank Run....
recent SVB and FTX collapse....are very cautionary tale .....How to avoid future bank run?
How someone can protect himself from this type of bank run in future ?
What precaution one should take ?
Red Flags?
Your thoughts ?
For people with USD on Wise, would you convert some to a currency that has account details i.e. separate account outside the US - e.g. SGD, AUD
Wise's US bank is Federal Community Savings Bank
They use Wise Asia-Pacific Pte. Ltd. for SGD and MoneyTech in AustraliaPersonally I would never ever hold USD. Holding USD outside US is even worse. Wise could be cut off at any point from its USD correspondence bank. The other two currencies are no better on Wise. I think they use DBS bank for SGD not sure on AUD.
I noticed this stance of yours in the past already...Personally I would never ever hold USD.
Can you elaborate on what you mean by this practically?
I guess you don't hold all your liquid cash in BSD, do you?
They use Wise Asia-Pacific Pte. Ltd. for SGD and MoneyTech in Australia
all currencies (including EUR under control of incompetent ECB) are collapsing against USD and any kind of "de-dollarization" will not likely happen in the next decade... I might be wrong seeing what I'm seeing... nevertheless, I probably missed the threads you mention, will look at your argumentsI would pick a currency other than USD. USD outside of US is a high risk currency to transact with in today's world. I discussed that in detail in other threads etc.
all currencies (including EUR under control of incompetent ECB) are collapsing against USD
Actually you are right - they are still partnered with DBS - that is the bank listed for receiving Stripe and Google paymentsI would pick a currency other than USD. USD outside of US is a high risk currency to transact with in today's world. I discussed that in detail in other threads etc. I fall on the side of de-dollarization so I am also biased in that respect.
I don't bank in the Bahamas. I used to hold my assets in EUR based treasury bonds but switched to foreign real estate last year.
Ok so use of DBS Bank for SGD is gone then.
what's your odds estimation that this will happen to any German (or even any EU-based) bank in the next 12 months?What @Martin Everson is saying( other than the prediction on the dollar which could be anybody's guess) , actually has practical validity. If you keep your funds in USD with any bank in the world, there is the immediate risk of your bank being cut off the swift for USD for whatever reason you may think of; and history has shown that only or mostly ( at least from what I know) the US is the only player who dares to take such actions.
I really don't know, I have never assessed this risk before Martin had mentioned it.what's your odds estimation that this will happen to any German (or even any EU-based) bank in the next 12 months?
exactly - let's not forget that anything is just a matter of probabilityI really don't know, I have never assessed this risk before Martin had mentioned it.
But I believe it could happen abruptly anywhere and for no apparent reason, but I would say that although this risk should be kept into consideration any panic created from this risk would be unreasonable.
I'm honestly interested... why is that?Do you know why that is?
Yes people say it but in practise, it never happens to anybody unless you're a Russian oligarch (I guess we have many Russian members here that don't exactly advertise that fact). Happened to me a few times that a bank told me "you can't wire USD to this particular country". I just converted to EUR and then wired.What @Martin Everson is saying( other than the prediction on the dollar which could be anybody's guess) , actually has practical validity. If you keep your funds in USD with any bank in the world, there is the immediate risk of your bank being cut off the swift for USD for whatever reason you may think of; and history has shown that only or mostly ( at least from what I know) the US is the only player who dares to take such actions.
0.001% chance and even if it happens (as it happened to Rietumu for example) your USD balance is just exchanged into EUR balance. So worst case you will pay some fees.what's your odds estimation that this will happen to any German (or even any EU-based) bank in the next 12 months?