The secret of being rich overnight

in #leofinance7 months ago

Imagine if all you had to do is print more money whenever you wanted something?

That's exactly how the US government (or any government for that matter) works.

This is over 58% inflation in the last couple of months alone.

Steem/Hive has always been considered a high inflation token due to the 8%+ yearly inflation rate. Imagine what would happen if we had 58% inflation controlled by one central entity?

I am generally not an anarchy capitalist, I tend to just weigh my options and go with what I feel is best at that point in time. But this does scare me and makes me wonder how much longer this can go on before it all collapses.

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Because the USD is the world’s reserve currency we will see sudden collapse of confidence in the entire fiat financial system and the real economy will rapidly move to Bitcoin and other sound cryptocurrencies (like Hive).

I can’t say when, but it will happen.
I wrote a detailed post about this a few weeks ago. https://peakd.com/hive-167922/@apshamilton/if-satoshi-were-around-today-qeinfinity-mmt-and-the-end-of-the-fiat-financial-system

Most of the valuable content is in the comments here. Meditate on that.

Good post although this is a fuller picture.
https://fred.stlouisfed.org/series/M2

We actually do appear to be on a track towards hyperinflation. :(

In Venezuela our inflation is well over 2000% and like im not joking or exaggerating https://tradingeconomics.com/venezuela/inflation-cpi
Yet here we are living with it 🤪 dont ask me how i dont even know!.

Venezuela, Zimbabwe, Hungary, and Yugoslavia have all experienced, and went through hyperinflation. The U.S. Is NOT Immune to this predicament. Study the mistakes of your past, as to not repeat those same mistakes In your future...
German-hyperinflation.png

If coronavirus and fedpolicy stay as they are (and imo will), then we get a stagflation. Inflation paired with a severe recession leads to stagflation. This is the worst. Like the great depression. The only question left open is the date. Because Sars-Cov2 will stay. And it will mutate. Therefore we get new waves from time to time and need to shutdown again ---> Recession.

The other thing I am deeply concerned is that the CBs are not going to give their power away so easily. Never will they. The announce their gov-cryptos, f.e. a free LIBRA and Fed-Digi-Dollar Wallet on every Whatsapp! Imagine that. And immidiately they got all in the boat and cryptos are in serious danger.

To reduce the risk of such a scenario, we all have to inform our families, neighbors, coworkers about the ongoing system and their plans. And we all should start to use it in our daily lives. But then again, we have one severe problem there. It's not stable! That's a big issue! I don't want to see my savings swing double digits weekly. I just don't. The majority of my cash is still in CHF for a reason.

7 million million US dollars is enough to make 7 million millionaires! Another 321.2 million million dollars to go (328.2million Americans) and every American is a USD millionaire!

It works out to about 21K USD per American Citizen.

Add in state, municipal and public corporation debt and maybe it's a little worse. Not to mention personal debts and future liabilities with pensions and all that. Scary numbers to think about.

I have only the most basic understanding of macroeconomics....but as somebody who has been long on crypto (at least ideologically for close to a decade) these are honestly the circumstances I’ve been waiting for as proof of concept that crypto is a real alternative to a system that is now proven to be infinitely inflatable via political convenience.

It really depends on whether people continue to trust in it or not. That’s seems to be increasingly difficult. I think we need to realize that we have an influence over things. Even if I have less money or power or HP, I can still reach others and spread ideas that make something better possible.

And in the meantime, just watching the shit show and thinking “woah, this is life!”

Yea this whole experiment 🧪 will not end well at all! How long they can keep people’s trust in USD is anyone’s guess!!

Are the spikes representing recession?

I don't know we even left the recession

+_+

with the Hive fork we created money out of thin air, that's always something to consider

Money was already being created out of thin air before that, but the thing is it is a controlled and predictable decentralized inflation not what we have here.

👍

Errr that's not inflation.

In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.

It's an increase in the overall assets, or money supply, from the federal system, because of quantitative easing. This can/might increase the general price level over time, but even that isn't certain.

The inflation was 2.5 % at January 2020 and fell down to 1.5 % in March 2020.
https://tradingeconomics.com/united-states/inflation-cpi

One thing that still baffles me, that most of the folks in the crypto sphere are fighting so hard against any kind of increase in the money supply. It only makes sense for a currency to be used, reducing the money supply is hindering those actions.
I still think that a cryptocurrency needs a steady increase of money supply, so that the inflation stays at 2 %. The value is the usecase and the community, not the money supply.

Sorry, but the comparison is flawed, isn't it? This financial system and especially the money printing policy is nothing more than a bad joke. I hope you don't think Hive is a bad joke.)

The Nixon shock is still real today.

Other countries will feel the full effects of inflation before we do.

But, I’m still gonna buy stuff before price raises again.

I still don't understand whether they are idiots or whether they have some hidden reasons for this like government complete control or war. Or both.

The biggest problem is the people in charge of the government are clueless as to how to properly control the economic system (or perhaps not, maybe they just want to remain rich and in control while all the peons work 40+ hours per week and continue to make the rich richer).

The people in charge think that bailing out corporations will somehow incentivize the owners of those corporations to start hiring people and paying them, that is not how it works. Jobs can only be created when the majority of people have money to spend, an economic system only works efficiently when the majority of the population has the most currency that has been created within that economic system. Since currency in an economy moves in a circle the same currency is spent over and over again by the majority of the population, when the majority of the population does not have currency to spend the economic system begins to collapse.

The greatest mathematical destroyer of economic systems is wealth inequality, and by bailing out corporations the government is actually creating greater wealth inequality. The currency never gets to the people at the bottom and it is hoarded by the people at the top who never spend enough for it to get to the bottom, they never create jobs because there is no incentive to create jobs when the majority of the population does not have currency to spend, there is no profit to be earned, so they just hold on to their currency. While the government creates more currency to try and fix the problem, this increases inflation and only makes things worse for the people at the bottom...

Our economic system is in self destruction mode and government laws/regulations is the only way to fix it, unfortunately the people in charge either do not care or are too dumb to fix it.

I remember reading a thing about how the world reserve currency generally tends to change every 100 or so years, and we currently getting to the point where a change would normally be expected to happen.

Lucky for us 'modern economists' were onto this 100 years ago.
Too bad that it was never taught in gubmint skills.
https://theanarchistlibrary.org/library/petr-kropotkin-the-conquest-of-bread

Not many really have the power to do anything about it.

Huh,...you don't say...
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What have you done to change it?

Lol, much.
I got the black marks in my permanent record, tyvm.

Has it changed though?

Weed is now legal.

My life is radically different than if I hadn't rose up and pushed back.

What governments all over the world are doing is terrible! Rich dudes get richer while simple folks remain with no money at all.

Don't be scared, it was mathematically engineered - since before 1913 - to collapse.

There is no other possible end game with fiat.

Stop watching, stat growing.
Then you'll be too tired to be scared.lol

Hello! This will be copy/pasted... but please pay attention to it... It's very important, I just need to spread the message quickly, before too many people are affected.

BITSHARES PROPOSAL SCAMS, BE CAREFUL!

There are people/a person, going around on bitshares and scamming people through proposals. I want to bring light to this as quickly as possible, for anyone who uses bts. It needs to be spread so that people are aware. The scammers seem to have already taken millions of bts and who knows how much more. :/

Thank you for taking the time to read this. It is very important to those who use BTS!

TL;DR: Yes, this is copy/pasted. It is to warn you about a scam going around. Please do not hate me for spamming this information around. :/ I am trying to possibly save people's crypto before it's too late!

please can you delete the negative votes, have you done my post or what should I do to resolve the situation I want to know what happens. For me, writing is a means of work with which I support my family. Right now, there are very bad moments around the world and even more in my country.
@themarkymark

Venezuela faces one of the worst Crises that has ever existed, the fear that
image.png
shelters every Venezuelan is not having a bread to offer their children since the minimum wage in Venezuela is approximately $ 4.35 a month. No one survives with it. In my country, there is hunger. I have seen people in extreme need, unemployed professionals, as is my case.
About two years ago, I learned about the work of Brother Eli Soriano and the Camino Antiguo church in favor of Venezuelans. Through steemit, he was given financial support for commenting and analyzing a video that touches on a wide variety of topics from everyday life that anyone can go through and can feel identified with. And imbued with each topic and get a reward for that publication. This represents a great help. I think that with this difficult experience that we are living worldwide, we must be more united and humiliated before our Lord Jesus Christ instead of putting obstacles and preventing others from helping to bring a plate of food to people who need it. and a word of encouragement to people who are going through depression and sadness. I hope you can consider your attitude and give respect to this work and not continue making negative vows. God bless you.
https://www.facebook.com/photo.php?fbid=10218506077303807&set=a.10206797974088544&type=3&theater

Can you grow your own food? Buy a chicken and eat the eggs.

 7 months ago Reveal Comment
 7 months ago Reveal Comment
 7 months ago Reveal Comment

This is correct.

Why would themarkymark downvote your comment, and provide no feedback?

 7 months ago Reveal Comment

Possibly. It really surprises me that anyone still thinks that 'Governments' are creating money.