In a world that is completely broken as far as the monetary system goes, there are no alternatives to Bitcoin. For high-wealth individuals and those at the top of governments and certain institutions, perhaps a continuance of the current monetary system can be beneficial. However, for those who want to survive the impending collapse, Bitcoin is the only real answer.
Most of us are certainly not experts when it comes to finances. This appears to be the realm of economists, bankers and those working in the finance industry. However, the average Joe does have a plethora of experts at his fingertips in the likes of YouTube, podcasts and written media. Therefore, educating yourself in basic finance is very doable if you have the time and the inclination to do so.
Certainly, those investing in cryptocurrencies, and who are looking beyond just making a quick buck need to know why they are doing so. And, once you have started on this educational journey you will start to uncover facts about the incumbent traditional finance system that will leave you staggered.
Educators such as Simon Dixon, who come from this system and who have studied it in detail, are a very good place to start. You would definitely need to know why this self-made billionaire refers to the dollar and other fiat currencies as “debt-based Ponzi schemes”.
Anyway, getting to the point, what hope is there for the average person that has placed their trust in government and the so called “money” that we are asked to use for transacting in our daily lives?
As I grew up, I learnt to repeat the mantra of “save your money and put it in the bank or building society”. Could anyone even begin to guess how much purchasing power we have all lost over the years to inflation and governmental printing of more money?
23.6% of all US dollars ever in existence were created last year alone. Do savers of fiat currency understand the enormous implications for them? Why are people cheering as Biden announces yet another gargantuan package of “free” money?
People might have heard rumour of a so-called solution to this problem in the shape of central bank digital currencies (CBDCs). They might have heard that the Chinese government has run several pilots in readiness for rolling out its own CBDC.
Various other central banks around the world are investigating this same solution, including the Bank of Japan, Bank of England, and just recently, the US Federal Reserve.
However, does the average man in the street know that this is programable currency, and that governments, through their central banks, can inflict any monetary policy on us at the tap of a keyboard.
You might say that this is what they do anyway, but this takes a lot more time and is much clumsier at a macro level. The power that CBDCs would give a government would allow micro meddling right down to the individual level, even to the point of making the currency in an individual’s wallet un spendable, should that person not conform to what the government proscribes.
I won’t go further into that can of stinking worms but will just leave that to those interested to investigate further.
Apart from what is coming in the future, there are other ways of preserving your fast dwindling wealth aren’t there?
Also, in the world of traditional finance, there are things such as stocks, bonds and treasuries. Anyone thinking to purchase and hold any of these had better look into their current and predicted future performance.
For example, why would anyone wish to hold a government 10-year bond in order to receive more or less the same amount back at the end of the term, but with a vastly reduced value when you take into account inflation etc.
The fact that institutions still buy them gives you an idea of the desperation and lack of confidence in the future of the economy that they must have.
So, what about gold and silver? Everyone would acknowledge that they are “real money”, and have been throughout history. Surely this is a safehouse where you can place your wealth and thereby protect it from value erosion?
Looking for alternatives to Bitcoin should always be encouraged. The point of having a varied portfolio is that should one or other assets take an unexpected turn for the worst, then at least you have alternatives as a hedge.
However, researching the gold and silver markets, and how they operate uncovers a world of manipulation by big banks. Simply make an internet search on gold and silver market manipulation and you will be treated to a glut of information detailing the criminality employed by the likes of JP Morgan and co over many years.
Fines for illegal manipulation of markets have been levied left, right and centre. Nonetheless, has it stopped the criminality? YouTube channels such as “The silver report uncut”, “Arcadia Economics”, and “RoadtoRoota” are excellent places to learn more about this subject.
Finally, real estate is another asset class that investors have bought over history in order to have “hard assets” that protect them in some degree from the falling value of fiat currency.
However, who but the few can afford to buy property? If you can’t buy the property outright then you are going to still be connected to the instability of mortgages in fiat currency. Some might argue that taking out a mortgage now with a long fixed-rate could work out very well over the next few years, but that is another area to investigate for those interested.
The circle of investigation goes all the way around and ends where it started, with Bitcoin. Ok, there is huge volatility. For those newly invested it must be hell to hold through the large downward spikes, the fear, uncertainty, and doubt (FUD) put about by government leaders and others who have a vested interest in the current system.
However, when all is said and done, Bitcoin enables you to be your own bank, to not have to transact through a third party bank or financial institution that is robbing you blind on fees.
It is the most decentralised and secure network on the planet, untouchable by government or any other institution. You can transfer it to anyone, in any country in the world, without anyone saying nay, and with the tiniest of fees in comparison with banks and overseas transmittance services.
The creator of Bitcoin, Satoshi Nakamoto, wanted people to have an exit door out of the criminal mess that is the current monetary system. He/She/They provided a fair system that is transparent and immutable. A complete opposite to what we presently have to put up with.
There is no alternative, stay within the government sponsored debt-based Ponzi scheme or buy and hold Bitcoin. I know what I’ll be doing.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.