A generation of surrender monkeys, making money by helping the government steal it
This post was originally published on Trademakers
Being raised by people who lived and fought during WWII, it can be no surprise I look at things differently to younger generations, who don’t mind dumping their morality to earn a couple of bucks.
As for the question of morality, you have yours, and I have mine, but selling your soul to the government is hardly moral.
This week I read a quote which everyone should take in.
“The freedoms you surrender today are the freedoms your children and grandchildren will never know!”
And nothing illustrates this more than how the public has surrendered to their government since the Chinese virus threatened to kill everyone on the planet and wiped out our economies.
What has this all to do with investors and the markets? And the answer is everything!
Even though I came late to the party, I love the concept behind Bitcoin and the idea that people can own and exchange something that politicians and central bankers cannot influence.
This adoration has nothing to do with the value of Bitcoin and everything to do with giving financial power and freedom to the people.
I have little interest in most Altcoins, including Stablecoins, because the hype doesn’t justify the value.
Stablecoins, at their base level, are cryptocurrencies that I don’t need for storing wealth or speculation purposes.
I am no expert, and many out there will disagree with my views on Altcoins, but let’s be honest. So many of them are simply instruments that people invented to take advantage of the bull market, and many investors will never get their money back.
Regarding USDC and other staple coins, these are little more than a trial run for CBDC. And we all know how disastrous for humanity Central Bank Digital Currencies will be.
And that brings me to my main point.
Everyone is running around innovating new products and creating new digital revenue streams. Still, they fully understand that when CBDC goes online, our wealth, whether we are rich or poor, will be open to abuse and confiscation by the desperate and corrupt political elite.
Lots of exchanges are trying to come up with a solution to protect the identities of coin and token owners from the authorities. Still, most of the solutions created ultimately come down to, “We will only tell the government if the government asks us”. And this “compliance” with future government demands does little to protect us; when it comes to these statements, it’s a matter of the Emperor having no clothes. There is no cover or protection, just a neatly packaged sales pitch.
Few investors today remember how much financial freedom we had pre-9/11, and a lot fewer remember the great time we all had during the Reagan/Thatcher years.
I have been through various economic cycles, and this recession is not my first rodeo. Still, I have always seen a positive outcome for the business and have always worked to make money, whatever the situation. But I have never seen a time when so many people in the investment and speculation industry have colluded with power-hungry, irresponsible politicians.
Just look at our banks today, who, instead of protecting their customer’s privacy, are now actively looking for so-called suspicious activity, so they can fulfil their quote regarding how many customers they have reported to the authorities.
And make no mistake, when a bank reports a customer for a $400 cash transaction, the world has gone crazy. Or, we are no longer sovereign human beings.
If I want to give my daughter a few hundred bucks, then that is nobody’s business except for mine. Indeed, if I pay tax on my income and prefer to speculate in financial markets rather than buy a car or go on holiday, what has that got to do with anyone else? Unless, of course, they will compensate me if I lose.
We all know that taxation today is more of a weapon to beat the public than it has ever been. More importantly, we all know that our governments use our money far more wastefully than we would. That is why tax receipts increase, but no matter how much we pay, there is never enough to pay down our debts.
If I buy bonds, I am lending the government money; if they mishandle the economy and lose money, that is not my problem; I want to be returned with interest, the money I loaned them. What I want is for them to refrain from stealing money from the public through increased taxation to repay me.
That is just racketeering.
We are currently going through a period of inflation caused by printing too much money, and years of bad fiscal management at the government level.
This is not the first time we have had high inflation levels; I bought my first house when interest rates ran at 12%. But back then, the government was smaller and less wasteful.
The problem this time is that our government has piled so much debt on our backs that there is no solution except for the government to shrink and spend less. But they will not do that because they have promised too much, and the gullible masses believe the government can deliver.
Governments are entirely lost, but instead of sticking up their hands and saying sorry, everybody. They have decided it is better to take control of everyone’s wealth and spending.
If there was a time for protest, then surely this is it. We all know which group of culprits have been spending our money for decades.
Sadly, younger members of society think this wastefulness is normal.
CBDC will be the instrument governments use to take our wealth, and the speed at which the central bankers have been able to create digital currencies would never have happened if it wasn’t for the innovative people working in the crypto industry. And those working hand in hand with governments on this development have no shame.
What has prompted this report is the move to use the beloved and pure Bitcoin block chain, for NFTs etc, which will bring BTC much closer to Altcoins. I don’t know who the smart ass at Ordinals is, and quite frankly, I don’t care. But it’s going to cause problems.
What I do know – and I have seen this many times during my career – is that not all changes are good for the business or for the investor.
Moreover, because I have never seen any legislation brought in by any government or any authority that provided real protection for investors or speculators, we should do things to restrict their influence, not expand it.
I understand this, and it’s as clear as the pictures on Hunter Biden’s Laptop: We had something in Bitcoin that was beautiful and worked. Because it worked, governments and central banks hated it and were out to destroy it.
Finding something that works well is very difficult, so when you do, you should protect it.
However, a surrender monkey and 40 pieces of silver are enough to kill anything or anyone!
Until next time.
The post A generation of surrender monkeys, making money by helping the government steal it first appeared on JP Fund Services.
The post A generation of surrender monkeys, making money by helping the government steal it appeared first on JP Fund Services.
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