It didn't upload my Sealab 2021 .gif. How disappointing.
Almost a month back - Wow, time flies when you're having fun. - the VIX went insane, Credite Suisse's inverse ETF the XIV went equally bonkers and everyone who made the mistake of betting against the establishment was told:
It wasn't fun. A near-200% spike in volatility, which people predicted, should have made bold and wise men millionaires. It made them nothing.
China immediately shut down all trading on their XIV-equivalent ETF. Countries are just bracing as hard as they can so they can blame some other nation for the inevitable economic collapse.
What it will mean for Crypto is that nationally backed currencies will be viewed as the garbage they are. People might finally catch wise to the dollar as the single largest pump and dump scheme in existence. You're right. I expect a lot of monetary influx, but it won't be from individuals, as individuals don't even have enough money to buy in with all the high bank fees associated with crypto purchases. The rich will get richer and the poor will get poorer.
Savor the Toblerone. It is a haven in these troubled times.