Crypto prices just surged.
There’s new life in the realm of digital money.
And it’s all thanks to those dopes at Wells Fargo.
As if the bank needed yet another reason to get itself in the headlines and lose countless more customers, Wells Fargo is in trouble once more.
You probably heard the news. Smoke was detected in one of the company’s main data hubs.
The smoke triggered a system shutdown… and things went south from there.
For nearly two days, Wells Fargo customers had trouble logging in to the company’s website… the app was down… paychecks went missing… ATMs failed… and many shoppers reported problems trying to use their credit and debit cards.
In other words, folks who started the week rich with digital funds ended the week broke.
Those looking to check in on their accounts last week got this scary message…
“While we restored operations throughout the day and continue to address customer concerns, our recovery from these issues was not as rapid as we or our customers would have expected,” said Wells CEO Tim Sloan. “We will review the system issues in detail and do all we can to ensure that this type of disruption doesn’t happen again.”
Despite what the bank says is the best of systems and the most proactive of plans, folks were suddenly broke.
It was a glimpse of the “big one” that everybody knows is coming. And it wasn’t pretty.
If a bit of smoke caused a two-day shutdown… imagine what a real emergency will do.
That’s the idea fans of cryptocurrencies are shouting these days.
Sure, bitcoin and its brethren are entirely digital, but there’s a key difference between its system and the system that tends to break so much at Wells.
Where the bank relies on just a few main data hubs (and lousy smoke detectors), bitcoin doesn’t rely on centralized power.
Its network runs on more than 10,000 hubs spread across the globe.
If one (or even 1,000) goes down due to a little smoke… you’ll never notice.
That’s the reason crypto prices soared last week.
Bitcoin was up by more than 10%. Ethereum went along for the ride, too. And so did litecoin and many others like it.
Our point here, though, isn’t to tell you which crypto to buy. (You can get those details at this funny but true link.)
No, our point here is to remind you that your Liberty is on the line.
As we dug into this Wells Fargo story, we couldn’t help but think of the young girl we detailed on Friday… the one who had a tough time giving up her smartphone for a week.
What did she do when her money was suddenly frozen? If she couldn’t tip her waiter with a few bucks of real, hard cash… how in the world was she going to make her rent payment?
There are millions of Americans out there just like her.
Prepare for Trouble
The solution to all of this – at least on a personal level – is obvious.
Don’t be blind.
Don’t be a sheep following the herd into the wolf’s salivating mouth.
Convenience is nice. But you must not depend on it.
Your Liberty must not rely on your PIN.
Have a backup plan. Make sure you’ve always got a stash of cash (see today’s Rooster’s Crow). And don’t rely entirely on the modern banking system.
It will fail.
The news last week proved it.
P.S. Donald Trump does some dumb things. But when it comes to money, there are few folks who have had more success. That’s why when I heard he was backing a new form of digital money – a solution to the problem above – I not only paid attention… but immediately turned my office into a news studio. Click here now to see the incredible $1 opportunity I uncovered.