The Death Of Fiat And The Way Out
Silence reigns before the storm.
Whether in the EU, the US, Russia, Africa, the Philippines, China, or Australia, no one is safe.
We know what is coming, and it ain’t sunshine and rainbows. No matter where we live, the collapse of the fiat system is upon us.
Bank runs, capital controls and financial stagnation will reign supreme.
The scam is not cryptocurrency, but the regulated currency, backed by nothing but numbers in the bank accounts, rapidly devaluating with the inflation tax economists rediscovered.
The scam is the 0% interest rates for depositors when CPI is close to 10% and real inflation ravages the middle-class devouring savings and income.
The Ponzi is fractionalization of reserves.
The inefficient payment system is the one that operates with banks and payment processors controlling the funds.
The scam is the one that blocks your payment, freezes your account, and demands you to contact your bank for information.
The new scam is CBDCs ready to confiscate any financial freedom left within the legacy financial establishment.
Here’s how as individuals we escape the death of finance.
Abandon State Fiat Money — Start Using Cryptocurrency
A new financial collapse is possible today. Those who didn’t already initiate a transition to crypto, at least partially even as a hedge against what is coming, will be in trouble without any exit from the banks presented.
“The transition is not controlled by some human in charge of the system, just individuals reacting on their own to market forces.” — Satoshi Nakamoto
It is high time to transition to a cryptocurrency-based economy by selecting those merchants that accept it.
NO CUSTODIANS, AND NO TRUSTED THIRD PARTIES.
We use sound and reliable money without worrying about fees, or trusted third parties freezing our account.
A transparent distributed ledger comes with an option to protect our privacy, secured by decentralized mining.
The transition into crypto will be the result of the violent conditions of bank runs and capital controls, as the central banks plan to print trillions of Dollars, euros, and other fiat currencies to sustain a fragile economy from the looming collapse.
There is a slim hope the banks will survive this new crisis, but we should wonder if anything has changed since 2008.
The taxpayers, workers, and the middle and the poor classes will pay for the banks’ mistakes again.
Once again, 99% of the population will see their income shrinking while bank CEOs will get rewarded with hundreds of millions in bonuses for their incompetence.
The bankers will get their bonus while their bank collapses and the state intervenes with trillions of dollars in liquidity injections.
We haven’t seen anything yet.
In Conclusion — Riding The Storm Out
The bank run begins, but where is the solution?
Thankfully we have alternatives today to fiat, but we also have alternatives to other traps masqueraded as a solution, those that present a weak and stagnated network with fees reaching $50 per transaction when people start using them.
Buy permissionless cryptocurrencies you can use. Not every blockchain is functional.
Buy Bitcoin Cash, Monero, ZCash, or even Dogecoin if you plan to use it instead of the collapsing fiat currencies, and survive the impending doom.
Originally published at https://read.cash.
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