by Teeka Tiwari, Casey Research:

Chris’ note: If you’ve been following along in the Dispatch, you know we often warn you about the crises we see around the corner – and the best ways to profit from them.

That’s why you should be paying attention to what’s happening in Argentina. Earlier this month, the government triggered a currency crisis, and hundreds of its citizens lined up at ATMs to get their money out of the bank.

Now, you may think that if you don’t live there, this doesn’t affect you. But as my colleague Teeka Tiwari will tell you, that couldn’t be further from the truth.

Teeka believes this is just the beginning of a trend that will spread around the world. And he has a strategy for investors that will not only help you survive the coming crisis… but reap life-changing gains as well.

Read on to get the details…

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By Teeka Tiwari, editor, Palm Beach Confidential

“Should I take my savings out of the bank?”

Last week, a member of my editorial staff at our headquarters in Delray Beach, Florida, got an urgent call from her grandmother in Argentina.

On September 2, the Argentine government imposed capital controls restricting dollar purchases. The new measures limit purchases or transfers of more than $10,000 per month.

The central bank says it won’t hinder people from withdrawing money from their accounts. But Argentines don’t trust the government – and for good reason…

In the crises of 1989-1990 and 2001-2002, the government blocked citizens from withdrawing their savings.

The second time around, riots broke out. Supermarkets were looted, and angry depositors vandalized bank ATMs.

That’s why hundreds lined up at banks across Buenos Aires earlier this month. They wanted to withdraw their savings after the latest government-authorized currency controls.

And they’re not taking any chances. Here’s what 25-year-old college student and part-time worker, Catalina Pedace, told Reuters:

This is a time when we are getting a lot of surprises. Tomorrow we might wake up and see that everything has changed. I prefer to be cautious and not regret it later.

Now, I’ve been warning my readers for weeks that we’re about to enter a global currency crisis. I call it the “Great Unwinding”…

Even though we’ve never had a situation where all global currencies got crushed at once… I believe a broad-based currency meltdown is in the offing.

And today, I’ll share why savers need to adopt a new paradigm to survive the implosion of fiat currencies…

A $69 Trillion Debt Bomb

The current economic crisis in Argentina was triggered last month when the opposition candidate defeated President Mauricio Macri in a primary election.

That result spooked investors, who feared a return of interventionist policies. The main Argentine stock market crashed more than 30% – in one day.

The Argentine peso collapsed over 25% (and continues to fall).

To keep it afloat, the government announced the new capital controls. And that’s why my colleague’s grandmother is considering withdrawing her savings.

But emerging-market currencies aren’t facing just political uncertainty. The main problem is debt…

Total emerging-market debt has tripled since 2007 – and now stands at $69 trillion. (Just last year, Argentina took out an emergency $56 billion loan from the International Monetary Fund to cover its short-term debt.)

To make matters worse, many of these loans must be paid back in U.S. dollars. And as the dollar rises, their currencies get weaker. So the loans are more expensive to service.

Now, emerging markets need to pay back (or refinance) $1.5 trillion in debt over the next 18 months.

But guess what? They don’t have the money.

Countries are issuing debt they can’t service – and printing too much money to try to cover it. Nothing kills a currency faster than that.

The New Paradigm

I’ve said it before, and I’ll say it again: A new narrative is emerging. And it’s, “Oh my goodness, the spaghetti just hit the fan all over the world.”

You might say, “Teeka, you’re crazy… We’ve never seen a global currency devaluation in our lifetimes. You’re nuts.”

But we’d never seen negative interest rates before, either. Yet now, about $17 trillion worth of government bonds worldwide (25% of the market) trades at negative yields.

Think about that. Lenders are actually paying borrowers. That’s insane.

So it’s possible we’ll see the world’s currency bubble pop.

And when it does, investors will look elsewhere for alternatives – like bitcoin.

Without getting into the weeds, bitcoin runs on something called a blockchain. No individual person runs the bitcoin blockchain. It’s peer-to-peer, with no intermediary. So governments can’t shut it down. They can’t confiscate or put controls on it.

Even China – with one of the more repressive governments in the world – has tried to ban bitcoin. Yet trading still flourishes there. Russia, Vietnam, and Colombia have all tried and failed, too.

For those who have lived through several currency devaluations (like Argentines), bitcoin is a substitute for putting their money in banks. In fact, they’re willing to pay a $1,000 premium or more for bitcoin.

The government can stop them from buying U.S. dollars… But it can’t stop them from buying bitcoin.

Read More @ CaseyResearch.com