Richest people getting ready for economic crash

[just_Alice]

I think it's obvious, that an economic crash isn't going to benefit anyone. However, upper-class and influential people will be affected the least, it's poor people, which will suffer the consequences. Rich people usually have back-up plans, so they acquire different corporate equities, precious metals, crypto, realty for all of life's emergencies. That's why they'd stand the crash if there was any. Other people don't have this opportunity.

Moreover, considering the situation, where rich people would also lose everything - what good will it do? Have you ever thought that many of them apart from just being rich build companies and, thus, create workspaces? If there were only governmental institutions there wouldn't be enough places for everyone to work, and, also, commercial companies nearly always suggest a better working environment and a higher salary. So it would be a lose-lose situation, no one should wish for that to happen.

[Obito]

It doesn't matter if there is an economic crash, the rich people will survive that. They have the money to curtail the effects, the pandemic is considered an economic downturn and the rich people have already recovered a long time ago. Another good example is the 2008 crash in US where the Wallstreet people are still well and alive even though a lot of people has suffer the economic crash. They are not getting ready, they are ready and they know that they won't be affected by the crash.

[Kelvinid]

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

If there’s a crisis, many businesses will suffer and they really have to be ready for that. As we can see, the aviation and tourism industry are suffering big time right now and their Debt balloon too, so if they didn’t prepared for this then its better for them to exit the market. Cryptocurrency can’t guarantee profit for them, crisis is not a joke.

We are already in a crisis, right? Many establishments are crashing down at this moment but I don't think that crypto is the solution for this. I know that these owners wouldn't like to invest in crypto, they are most preferred to wait for the economy to recover and start over again.

If we saw some companies are adopting crypto now, it does not mean that they are preparing for the economic crash but they are doing this because they saw the potential in crypto investment. They saw that this could be in demand for the coming days, and so they are anticipating it now before it has gone too late.

[oHnK]

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

If there’s a crisis, many businesses will suffer and they really have to be ready for that. As we can see, the aviation and tourism industry are suffering big time right now and their Debt balloon too, so if they didn’t prepared for this then its better for them to exit the market. Cryptocurrency can’t guarantee profit for them, crisis is not a joke.

We are already in a crisis, right? Many establishments are crashing down at this moment but I don't think that crypto is the solution for this. I know that these owners wouldn't like to invest in crypto, they are most preferred to wait for the economy to recover and start over again.

If we saw some companies are adopting crypto now, it does not mean that they are preparing for the economic crash but they are doing this because they saw the potential in crypto investment. They saw that this could be in demand for the coming days, and so they are anticipating it now before it has gone too late.

I see an even more extreme thing that currently those who invest in Crypto are only looking for new fortunes in anti-mainstream investments. Those who firmly say Bitcoin is a scam are buying crypto. It seems like I am investing in crypto for fun. But the positive thing that can be taken is that we are experiencing hype that will end up who knows how long. And this is quite an advantage for many parties.

[Yatsan]

As for now, richest people is not going any further upon selling their acquired cryptocurrencies for at times like this, many people are still into hype on buying cryptocurrencies that they can afford to buy on which we can expect more purchases and holdings to happen for many are still expecting that the crypto market can grow even more providing more possible profits for their part. Richest people are always ready for anytime in economic crash because surely they won't get there into their positions if they do not have lots of experiences to survive, improve or maintain their capacity of being rich. Surely many people are aware of the possibility of unexpected economic crash and everybody have their own ways and plans on how to deal with it once it comes right in front of us.

[Pierre 2]

I don't think rich people (very rich people at top of the top) are in need of readiness for economic crash. Most of them invested a lot in real gold and real estate as security to back their future. Cryptocurrencies are just speculative playground for them to get quick bucks.
So in summary they don't need to anything special to survive economic crash. And I don't trust them - I think people shouldn't be so happy that they are buying coins. They always play big and it is dangerous for us.

[Febo]

Most of them invested a lot in real gold and real estate as security to back their future.

Real estate dont bring much of a security in real estate bubble. Prices of real estates could drop few times when crash happen. Gold is still king. It is fungible after all.

[Silberman]

Everyone should bear in mind that the economy will crash.
The crash of the economy is an event that happens every time and everyone who prepares for it will have the opportunity to become the next rich.
The poor are the ones who are afraid of financial problems and panic when the price starts to change, they sell their assets to buy liabilities or for less than their price.

The temporary crash that occurred after Covid19 pandemic made the unprepared poor and some rich.

We all know that the economy crashes from time to time, that is to be expected however there are different kind of crashes and there seems to be enough evidence I think to believe that the next crash that we are going to experiment is going to be a systemic one, it will require all of the most powerful governments around the world to make a new deal about how the economy will begin to work from now on and that is because fiat currencies are showing great weakness and the governments are not helping them by creating more and more of it every single day.

[CryptopreneurBrainboss]

Becouse when alot middle class and poor people start buying it means crash is near.

Although the market crash is inevitable but don't think it'll be happening anything soon. The market is too bullish for a crash to come spoil everything now. The bull season would probably last untill early next year or at least the end of the year before any bearish market becomes a trend. We're yet to see the best of Institutional investors pouring their funds into the industry. There would be some corrections there and here but that doesn't mean we'll be bearish.

Few days ago there was a correction but the market recovered very fast and now we're trading above the $50k mark that was looking very challenging to cross. Corrections like this will occur to build momentum for next milestone to be be crossed until probably the $100k milestone is crossed.

What you should be cautious of right now are the corrections, don't fall victim to the tricks the institutional investors would be trying to pour off. They'll want to buy cheap found as they'll try manipulating the market but you can't avoid this by not paying attention to the market but just been a hodler.

[adzino]

How did you come to this conclusion that the economy is going to crash again? I mean economic crashes do happen when some unrest is going on, which we have already went through. In fact we are now in a recovery stage which is actually good really good. I don't think we are going to see another crash anytime soon. If that happens, things are going to get messed up.

As many institutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Makes no sense. Why crypto currencies become a "cheap asset" after selling to average people? To make it a cheap asset, they will have to sell it for cheap, which would be stupid of them.

Because when alot middle class and poor people start buying it means crash is near.

Lol, what?

[Reid]

Becouse when alot middle class and poor people start buying it means crash is near.

I disagree.
How come with just simple reasoning they will start dumping anything?
No, I don't think that is the key to make them sell whatever asset they hold.
Since someone on the other end is still buying, the value won't drop just yet.
Plus, they will need to worry about "competitors". (another group of rich people) If this group have a goal of increasing the value more by holding it then risk will go higher for the sellers that you mentioned.

[3meek]

The collapse will definitely happen, but I don't think it will happen soon... Not so many people are buying cryptocurrency now... I don't know too many people who ask about bitcoin or moreover altcoins growth, in 2017 there were much more of them! So I think we are just at the beginning of the coming rally! Not sure about bitcoin, but altcoins are definitely just starting to rise!

So to sell large volumes you need to get a lot of people interested!

[ElmedoRator]

I don't understand why you are thinking about this and why you can tell if they have prepared that person in advance when you are not them. Who is rich? Please answer to OP, the economic crisis is inevitable if the current developments are not resolved. I believe this situation will be worse in the future. And there will be a lot of complications, I've always assumed that people with real money know how to create and control things.

[ven7net]

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

This is probably how it is. In the US, the dollar is printed in very large quantities, the same is done in Europe and probably in some other countries. All this threatens them with high inflation, which means there will be a collapse of production. Where to get so much free money? Of course, buy various assets on them, for example, cryptocurrencies. It is very likely that very soon, something will happen and it will be something bad. What should we do? I believe that we also need to try, if possible, to distribute our investments among different assets and closely monitor what is happening in the world.

[virasog]

Becouse when alot middle class and poor people start buying it means crash is near.

Although the market crash is inevitable but don't think it'll be happening anything soon. The market is too bullish for a crash to come spoil everything now. The bull season would probably last untill early next year or at least the end of the year before any bearish market becomes a trend. We're yet to see the best of Institutional investors pouring their funds into the industry. There would be some corrections there and here but that doesn't mean we'll be bearish.

Few days ago there was a correction but the market recovered very fast and now we're trading above the $50k mark that was looking very challenging to cross. Corrections like this will occur to build momentum for next milestone to be be crossed until probably the $100k milestone is crossed.

What you should be cautious of right now are the corrections, don't fall victim to the tricks the institutional investors would be trying to pour off. They'll want to buy cheap found as they'll try manipulating the market but you can't avoid this by not paying attention to the market but just been a hodler.

We all are humans and when we see market crash, if feels fear in our heart and we see sell thinking we should not lose the profit which we already have gained. The only way to keep ourself safe from these situations is to keep ourself away from the charts and prices. This way there will be no stress on our mind if there is a temporary market crash.

[laredo7mm]

Richest people getting ready for economic crash.

As many instutions and banks going in crypto so they selling crypto to people to average people before crash to buy assets cheap.

Becouse when alot middle class and poor people start buying it means crash is near.

They only care about profits. Institutional investors and big investors have their own strategies to gain profits out of the market. People like Elon musk have influenced so just think what will happen if he announced that he bounty 1 billion in bitcoin. Surely it will pump and he announces that after he brought his BTC. That means he brought cheap and then use his influences to increase its price. That's what they are doing now.

[Silberman]

The collapse will definitely happen, but I don't think it will happen soon... Not so many people are buying cryptocurrency now... I don't know too many people who ask about bitcoin or moreover altcoins growth, in 2017 there were much more of them! So I think we are just at the beginning of the coming rally! Not sure about bitcoin, but altcoins are definitely just starting to rise!

So to sell large volumes you need to get a lot of people interested!

We have no way to know when the crash will happen, but what we do know is that it is coming, the pandemic has left governments around the world with debts that are basically impossible to pay and the more money they print the more difficult it is to pay them, we are getting to the point in which it is getting difficult for them just to pay the interest and once they reach that level that is when the crisis will begin to unfold, so I really recommend people to keep holding their bitcoin as most likely the price we are going to witness is going to be many times higher than what we have seen so far.

[AicecreaME]

Rich people are getting ready for an economic crash, not because they're afraid that their wealth would be negatively affected, but to stock up even more. Their goal is to buy assets at a much lower price, and hence when the economy recovers from the decline, they'll be even richer. Wealthy people like to manipulate and play the trend of the market. They have the confidence to buy in an instant to control the price movements to their advantage. The market is wrapped around the fingers of the elites. The people who should be ready for the crash are the middle class and lower class people. These people are the usual ones who suffer since they have just enough or close to having none.

[Snappycoco]

I dont think they need to prepare. As far as I know, rich people have enough money to survive even at the most uncertain times. The crash is much certain to happen but it seems that this will not have a great impact to economies. Small time traders would go to work now and probably it would create a small effect in price.

[DrBeer]

Enough "airy idea". Countries print money, the richest sell the cue ball for FIAT to increase their stocks of unsecured cut paper? Why can't they buy assets with the paper they have? Or maybe they want to infect everyone through bitcoin with a virus, and Bill Gates rules this? And for the virus to take root better, they also build 6G mobile networks! Sorry - but the thought is very similar to the "world conspiracy"