It feels like this year is going by at the speed of light, doesn’t it? I can’t believe it’s already June. Everyone is in vacation mode and ready to relax by the pool and forget about daily work and family care.
I totally understand the feeling. Who doesn’t want to stop thinking about wallet-busting inflation, high interest rates, credit card debt, and the feeling that no matter what you do, you won’t get ahead in life? It almost sounds like the whole show is tied to you doesn’t it?
Yes, of course, to be honest, but that’s a story for another time. The forces that want you to be fat, happy, and stupid have been very successful at that job. Now that they have succeeded in silencing the people, they can do whatever the hell they want and get away with it with impunity.
The thing is that their hubris got the best of them. The Federal Reserve and its zero interest rate policy (ZIRP) messed things up to the point of danger for the American people and the federal government.
Before the 2020 pandemic, the government had a hard time keeping the inflation rate around its 2% benchmark. Certain economic factors such as advanced technology, declining birth rates, baby boomer retirements, and globalization have made inflation lower over time.
The Federal Reserve, in its infinite wisdom and always worried about deflation, continued to lower interest rates to encourage lending and borrowing in the American economy, which worked for a while until we got to 2008 and the Great Financial Crisis (GFC).
The boom in lending and borrowing fueled the housing market and nearly brought down the world economy, but luckily we had a “strong” government that stepped in to fix the problem they helped create. That being said you would think they would have learned their lesson and put their financial house in order.
The government, isn’t it! They didn’t do anything like that, what they are doing is to continue to misuse money in 2020. It didn’t matter which political party was in power, spending kept rising.
Did you know that former President Trump added $8.4 trillion to the national debt while in office and President Biden isn’t faring too well with the total debt looking to hit $7.9-$8 trillion? It goes without saying that the government has no money and is living on borrowed time.
Whoever “wins” the election will be the captain of the sinking ship. Medicare and Social Security are broken and completely unaffordable but the politicians never tell the millions of Americans who “pay into” their entire working lives that there is no pot of money set aside for them and that it was an elaborate tax plan. support the government.
It is NOT necessary to get social security “benefits”, I hope you know that by now. If the government tells you, you don’t get social security or Medicare, there’s nothing wrong you can do about it. There are no lawsuits you can file to force the government to return your money or elect the “right” congressman to fix things. If the government taxes your income, that money is GONE.
You can’t trust the government to hold up its end of the bargain or not debase the currency and destroy your quality of life. With a government like this, why would you trust them with anything? Self-sufficiency in assets will determine the winners and losers in the next 5-10 years.
The Gathering of the Clouds of Heaven
I don’t know about you but I have this uneasy feeling that we are on the road to something big. It will be a paradigm shift in the entire world. If you look over the horizon you can see all the pieces falling into place. Just look at what happens:
The United States government has $34 trillion in debt without end.
Israel/Gaza War
Israel is bombing Iranian forces in Syria
BRICS expansion and dollarization continues
China/Taiwan
Russia/Ukraine war
The global birth rate is below change rates
All over the world there is open hatred or an ongoing conflict that will come to light. I’m not sure if this is how the world felt before WW2 but it feels like the world is falling apart. With all this happening, how can you trust the current dollar-based system to protect your hard-earned wealth?
There’s Nothing New Under The Sun
If you have a large amount of dollars in the bank, your wealth is at risk. Banks can seize or severely restrict your access to your money, especially during a bank run or other unexpected problem. This is what happened in 2013 during the Eurozone crisis.
At this time the two biggest banks in Cyprus were in trouble and needed to be bailed out by the European Union. The Cypriot government was desperate and the EU knew it, so in classic mob fashion, they insisted that the bank be bailed out using customer funds!!
It doesn’t get any worse than these people. According to a 2018 survey, 55 percent of households that exceeded the $100k limit in deposits experienced direct financial loss, and 28 percent received a deposit bailout.
If you think it can’t happen to you, think again. I bet the Cypriots thought it wouldn’t happen to them yet. Now is not the time to be complacent and think that everything is fine. If you are a Bitcoiner you understand the world we live in right now.
This is why self-protection of your assets, primarily Bitcoin is necessary if you want to survive the economic Armageddon with your wealth intact.
Defense is the Best Tool for Economic Freedom
Satoshi created Bitcoin and gave us the monetary policy we need to change humanity’s trajectory from endless fiat wars and dystopian observations to a bright orange future where human potential can flourish.
In addition to creating a fair and just monetary system, Satoshi gave us the ability to hold our own wealth without the need for a middle man like a bank. A simple Bitcoin wallet address and your private key is all you need to protect your wealth from being taken by a malicious third party. This is really revolutionary, I mean this is the real time of 1776 in history that was fired on Jan 3, 2009.
Self-control gives you the ability to push your boundaries and resources and start over in a new place when push comes to shove. You can’t do that with gold, you can’t do that with silver, you can’t do that with your 401k or a shiny new Bitcoin ETF.
Not your keys, not your coin is a mantra that should be drilled into the head of every newcomer to Bitcoin. Trusting a custodian to manage your Bitcoin wealth is as risky as keeping money in a bank.
There are so many educational resources and Bitcoiners willing to help people new to Bitcoin that frankly it is unacceptable to have someone holding any amount of Bitcoin in the exchange. If most Bitcoin owners keep their coins in exchanges or buy Bitcoin ETFs instead of the real deal, what are we doing here? It is self control or exploitation. This goal is in your hands. Are you ready?
This is a guest post by Robert Hall. The opinions expressed are entirely their own and do not reflect those of BTC Inc or Bitcoin Magazine.
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