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BSOSCBlog.com • View topic - How To Avoid Wipe-Out & Thrive In The Economic Collapse

How To Avoid Wipe-Out & Thrive In The Economic Collapse

How To Avoid Wipe-Out & Thrive In The Economic Collapse

Postby jpf1030 » Sun Apr 07, 2013 6:16 pm

Howdy All,
Well, things are heating up in the coming financial collapse as we are all aware of with the public reaction test implemented by the banksters in Cyprus and reportedly coming in more of the Euro zone countries on its way to global action.

Many people have talked with us as they are contemplating what they can do to protect themselves from govt. ordained robbery by the banksters of their funds deposited in banks around the world. We have been warning on this site for years to get your money out of banks and into life sustaining commodities investment.

Recently, we have been asked about bitcoins as a possible safe investment. We looked into these a few years ago, but were not comfortable with the digitized methodology. Now, it would seem we were inspired to avoid bitcoin as a safe haven investment. I received a report a few days ago about these being hacked. It is posted at the end of this posting.

All along we have advocated all seven of of our categories of preparedness. These alone would provide sufficient venues and then some for most all us. We have recommended precious metals as a safe parking place for those that can afford them. But, even that is becoming more and more difficult to do discreetly with some cities passing ordinances requiring photo to be taken and fingerprinting for precious metals transactions, like that reported to be passed in Houston, T. last week.

We have posted here numerous times that if you only have $100 or less in your savings account to get get it out to purchase base metals like rolls of nickels and pre-1982 copper pennies as their metal value already exceeds their face value. They will only escalate in value in coming days.

On the opposite end of the spectrum, are those few with great amounts of dollar and other paper assets in need of protection from the coming economic train wreck. Of course those folks will want to fully invest in all 7 categories of prep products including land in safe haven areas. But there are those who are concerned how to protect their assets once these seven bases have been covered.

There are numerous safe haven investment venues for those with high value assets to protect. As we have taught in our BSOSC meetings, it is wise to invest excess assets into cottage industry type businesses that will provide essential products needed. This would of course, be most prudent to do in the highest probability safe zones of the country.

Whether investing in these cottage industries for a small self-operated one or financing them for other skilled craftsmen by larger investors, we see this as the coming wave of the future in the new paradigm. This is how society developed in the beginning and to which it will return in the near future upon the collapse of the old paradigm under the weight of its own corruption.

We must remember we are all dependent upon each other as producers and that each of us will necessarily be a producer of something, be it goods or services if we are to survive the collapse to be those seeding the new paradigm.

Personally, if we were in the position of needing to make such asset reapportionment, some considerations would be land for retreat communities where families could purchase lots for small intentional self-sustaining communities development for permanent and temporary living.

The one real estate investment which has not been hurt by the economic contraction has been agricultural land. Investment in such land and equipment for producing oil seed crops for raw materials to produce bio-fuels, alcohol, etc. would already be in demand, not to mention the value when the crunch hits in full. This investment would of course provide capability for production of other food crops.

Storage unit buildings with "special" features capability and location would be something in high demand. This could be prepared for well ahead of time via accumulation of 20' & 40' shipping containers in a business that could sell these units as well as having them in inventory for housing and storage construction projects.

I've barely scratched the surface of what we can all do to protect the fruits of our hard earned labors, but this posting would become far too long to go into more detail. What I have given is sufficient to help spark the thoughts and imaginations of any who are serious about getting out of all paper currencies and paper assets.

Decide on what appeals to you in asset protective reallocation. Just Giterdun' asap and...
Get Prepared!!!...jpf
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Published: Thursday, 4 Apr 2013 | 6:10 AM ET By: Matt Clinch

Online currency bitcoin had 20 percent knocked off its price overnight on Thursday as one of its major exchanges became the victim of a hacking attack leading to a sell-off in the virtual currency after reaching an all-time high.

Uncertainty over other currencies, turmoil in Cyprus and media interest are just some of the reasons commentators are citing for the 360 percent rise in bitcoin prices over the last month. The frenzied interest in bitcoins piled over onto the social media site Twitter and led to a spike in Google searches on the topic.

(Read More: What Is Bitcoin?) http://www.cnbc.com/id/43823614

But by Thursday morning bitcoin prices had fallen to $132 from Wednesday's record price of $147.

The most popular bitcoin exchange, Tokyo-based Mt.Gox announced overnight that it had been the victim of a hacking attack after experiencing a severe lag with its systems. The complications meant the price quickly sank to below $115 before regaining ground to $130 by 6.00 a.m. London time on Thursday, according to Bitcoincharts.com.

(Read More: Bitcoin Bubble: How 'Geeks' Sent Prices Parabolic)
http://www.cnbc.com/id/100613312

"There are many who will try to take advantage of the system. The past few days were a reminder of this sad truth," it said in a press release on its Facebook site.

The exchange blamed a type of hacking attack called a distributed denial-of-service attack (DDoS).

More than 80 percent of all bitcoin-USD trades and more than 70 percent of all bitcoin currency trades are done on Mt.Gox's servers, according to the company, making it a major target for anyone wanting to take down bitcoin trading, it said.

(Read More: Bitcoin Showing 'Aggressive Bubble' Behavior: SocGen)
http://www.cnbc.com/id/100613010

"Attackers wait until the price of bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit," Mt.Gox said.

"There is pretty much nothing that can be done. Large companies are frequently victims of these kinds of attacks. Even though we are using one of the best companies to help us fight against these DDoS attacks, we are still being affected."

Bitcoin is a virtual currency allowing users to exchange online credits for goods and services. There are currently nearly 11 million bitcoins in circulation but the currency is capped at 21 million coins. While there is no central bank that issues them, new bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.

(Read More: Bitcoin Boom? An ATM for Virtual Currency in the Works)
http://www.cnbc.com/id/100609853

The total value of all bitcoins has now surpassed $1.4 billion. But these latest revelations may go some way to reinforce criticisms of its instability and price volatility. Mt. Gox had to temporarily suspend deposits on March 12 as a newly mined block of bitcoin went unrecognized by the system which caused a short sell-off.

Another bitcoin associated company Instawallet - an online storage service - was hacked earlier this week and its service was suspended indefinitely.

"Our database was fraudulently accessed, due to the very nature of Instawallet it is impossible to reopen the service as-is," it said on its website.

—By CNBC.com's Matt Clinch
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