Thanks for the great post and good information! This stuff is hard for people to even think about. The more we break it down to simply concepts, the more easily the truth will be understood.
Fiat currency is a control mechanism. It is used to siphon wealth from the productive to a small group at the top. They do the siphoning by direct taxes and through indirect taxes (inflation).
Inflation is just an increase in the money supply. The current system does not work and would collapse on itself without continual inflation too. That should be people's first clue to why it is bad for us.
People will say, "But we need the banks for credit." No, we do not. You want to launch an expensive project? Use crowd funding. Raise the money. I reject the notion that credit is required. Banks should not be allowed to use fractional reserve lending, and they should not lend funds they do not have.
Governments will say that they need credit because they are in the habit of spending money they do not have. They do that on purpose too to maintain control and keep people in perpetual debt whether they realize it or not. That perpetual debt is the taxes you are required to pay in the future.
I keep telling people to prepare for the day when their fiat currency buys nothing. Will you still be fed? Will you still be warm? How will you protect yourself? Do not depend on a pension, your 401K, or any other source of fiat income.
Sure, use it while you still have it, but do not depend on it. Get yourself setup so you can survive without fiat. How do you do that? You do it through having crypto, precious metals, items valuable to barter, and skills valuable to share.
Awesome comment, upvoted!
A picture says a million words i heard, i thought this would be suitable ( ;
That's literally brilliant.
Thanks for expounding.
100% true, no rounding.
these orders of the new need a pounding
Thanks @splendour from @universalway and crew
You make a very valuable comment.
I'd say before cryptocurrencies the best money was debt-free government created money. No governments have to borrow money to anyone ever they can create debt-free money as many did and still do to some degree today.
As being able to live without being dependent on society and fiat-money, this is priceless...
It may not be debt free however it still requires an initial investment, just like everything else in life.
It still create inflation but debt free fiat-money can be created and as been in the past.
Crypto is changing the world for the better. We cannot easily make transactions in precious metals of course, and crypto can be moved across imaginary lines between tax farms instantly and without risk. The best part about it, as you already pointed out, is that current oligarchs cannot control it.
Words of a true #libertyprofessional @finnian. Thank you @teamsteem for your refreshingly insightful article. Resteemed for the greater good!
Great comment upvoted!!!
well said! Currency tied to nothing is leading to the state's rapid debt and then collapse. I'm not hoarding gold bars in my house or anything, but people really shouldn't rely on paper forever.
Water is the real currency
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