Cryptocurrency: Is Mental Peace

[grarpamp]

> https://twitter.com/Wealth_Theory/status/1654133229647962115

Wealth Theory @Wealth_Theory

"So is every man in the fens. We can live by the bow."
"Let us off to the wars, then. We might do un-common well."
"And lose an arm or an eye? No, I'll go a-venturing,
but with goods, not my life."
"You'd become a merchant? A trader?!"

May 4
Banking Crisis explained simply: We’ve printed money into a
fractionally reserved ponzi for decades. The hubris got so great that
government really thought they could shutdown the economy and pay
people to stay at home with printed money during Covid hysteria.
Production stopped, scarcity exposed the excess capital in the system
and the consequence of counterfeit dollars chasing fewer goods is
inflation. Now the Fed in its hubris thought they could slow inflation
by cranking up interest rates. One massive problem: the banks are
fractionally reserved, and the Fed is offering yields far higher than
the banks can pay. This has created a withdrawal vacuum from the
banks. The smallest, most levered banks are failing first, but this
problem exists in all fractionally reserved banks. If the Fed lowers
rates meaningfully it will cause inflation to run hot again. If they
keep rates high they will continue sucking money from fractionally
reserved banks, and those banks will need to be bailed out with
printed money or all large deposits will be destroyed. You may have
heard the expression, “you cannot taper a ponzi.” This is what that
looks like in real life. Money printing is a delusional idea and it
has real world consequences. It has been repeated throughout history.
See the decline of the integrity of Roman money illustrated below: The
fact that billions of working men and women must sacrifice 40+ years
of their time, energy, health, and focus to gain access to fiat
currencies that central banks replicate with a keystroke is theft at
the largest scale humanity has ever seen. Cheers!

May 4, 2023 · 2:37 PM UTC
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Ryan Wells | Bitcoin Pleb
@IAmRyanWells
May 4
Replying to @Wealth_Theory
It's amazing how much our financial system relies on trust and belief.
You're right, money printing has serious consequences and we're seeing
it play out right now. It's important that we stay educated on these
issues. Thanks for sharing!
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Genesis II - Saorsa Labs ∞
@SaorsaLabs
May 4
Replying to @Wealth_Theory
Preach 🙌
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Max Gainz
@MaxxGainz
May 4
Replying to @Wealth_Theory
You dont have to go back to antiquity to show failure
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Heather🐝
@HeatherSener
May 4
Replying to @Wealth_Theory
Isn’t it ironic how those who’ve been profiting off this system for so
long have the audacity to call crypto corrupt. They’re mad we figured
out a way to create our own currency and they can’t stop it.
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dnaart.nft
@DNAartgallery
May 4
Replying to @Wealth_Theory
@ExplainThisBob
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Bram Kanstein
@bramk
May 4
Replying to @Wealth_Theory
FIRE 🙏
Bram Kanstein
@bramk
May 4
Replying to @Wealth_Theory
Amazing summary. Made me write this:
Bram Kanstein
@bramk
May 4
I have never been an economics or finance person. But ever since I
discovered #bitcoin  10 years ago, I have been studying, learning, and
discovering so much about the financial system, currencies, the origin
of money, politics, and cryptography. I even worked at two financial
corporates. In the innovation departments. Trying to save the “burning
platform”. Banks are done. Irrelevant. They should go back to their
classic origins: business loans. Citizens need to be given back
control of their money. Of that what they own and worked for. Banks
should stop taking cheap 0% interest money from consumers. Giving them
no upside in potential profit from investments with that money. But
present them the bill when you fucked up. Yes, I am talking about YOUR
deposits If you are a citizen and still think your unbacked (fiat)
money is to be trusted. Then you trust other people who “create” that
trust? (People with the same personal problems and life challenges as
you? Think about that. Are they capable and honest enough? Would you
be?) Or do you rather trust an open-source, decentralized, trustless
network of computers? Immutable, but always auditable. For all to see
if it still operates and follows the rules that were set? And if not,
to punish the bad actors. The forced transparency creates that trust.
It is crazy to realize that we are watching the fall of a world empire
in real time. In our lifetime we see something that only happens once
every 250-300 years. Of course we dismiss that. Initially. But just
think about how much $31 Trillion is. An unimaginable amount. Who is
ever going to pay that off? Their yearly (tax) revenue is consistently
lower than their newly created yearly debt. What is the upside for
other countries to buy bonds or treasuries after seeing that debt?
Because it is backed by what? Bombs? WHAT A REASONABLE ARGUMENT TO
CREATE TRUST. GET BULLIED INTO GIVING AWAY YOUR MONEY. When more
countries decide to test their bluff… they won’t do anything. Because
they know that their own people don’t trust them. And there are too
many guns. Their currency will just gradually, then suddenly, die. I
honestly wonder how many people actually think about this. Sometimes I
think that I am the crazy one in my circles. I don’t live in the US
but I can imagine that the spill-over to the rest of the (Western)
world will be huge. That impacts me. So what to do? My conclusion was
#bitcoin . Move money from a broken system into THE NEW. Old
rules/habits/systems break and evolve. Think about those TV segments
where people dismissed the internet. You are on it. Now. Are you
paying attention yet? We always progress. Luckily. But there is no
progress without struggle so I guess that is what we are in the middle
of. Anyway. Just wanted to share this. If there’s only one person who
reads this and takes action, than I’d be happy. Onwards!
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RobbyV.eth | Ape1612.eth
@robbyvcrypto
May 5
Replying to @Wealth_Theory
@ThePursuit7
Dane Wilkins
@DaneGeographer
May 5
Replying to @Wealth_Theory
Bitcoin or bust
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Just visiting this planet
@carl56920377
May 5
Replying to @Wealth_Theory @dueyfromstlouis
Maybe the best explanation I’ve heard yet ✋
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