The FIAT Ponzi Scheme
A Ponzi scheme is one whereby money is generated by bringing in more people who pay the people who brought them in, such that those who get in early do very well and because there is no real product, ultimately it collapses. Those who got in last often lose everything. The system collapses because it is unsustainable, which is why they are illegal. They are also known as Pyramid Schemes which is definitely not what bona fide Network Marketing companies (MLMs) are. This is why MLMs are legal and can offer an ethical supplementary income if the product is useful and beneficial. See my Networks page for some that I have found to have excellent products that I use both clinically and for myself for their great natural health benefits. Where the products have a real benefit to the consumer then the MLM has an ethical reason to exist in my opinion.
If we consider that since the Gold Standard was dispensed with in 1931, Banks are now allowed to lend 9 times more money than they have assets to support, this is ultimately unsustainable because there is something like 4 times as much debt in the world as money. In my view this makes the current FIAT system the world's biggest Ponzi scheme.
It is a house of cards that is artificially propped up and was ready to fall when the current Plandemic distraction conveniently came along. It remains to be seen if this crisis will be used to hasten in a new digital currency agenda and if it will be used to provide a scapegoat for a collapse.
When there was the big financial crash in 2009 the UK public were forced by Government to "bail out" the banks. Not many people realise that in 2014, the law was changed so that future collapses of a Bank would be rescued by a "bail in" system whereby the Banks use their Savers' money to make good any shortfall. Pension Schemes are woefully under-performing too, often relying on the tax exemption gain more than actually managing shares and performing better than the market average. With the current plandemic, many companies may struggle to survive in which case share holders are liable to have to pay the bills or lose their money.
Index-linked Funds are no different in essence to the shenanigans that the Banks got up to in the noughties by creating AAA rated mortgage products that had no real value. This led to the collapse in 2009. Some companies included within Index-linked Funds are as valueless as the old AAA mortgages. One aspect of the plandemic is to distract people from the coming collapse of the FIAT system that will ultimately occur due to it's fragile and fundamentally dishonest construction. If you go down the rabbit hole this is another leverage to collapse the economy in order to usher in Universal Basic Income. This is the thin end of the wedge. Along with other changes, such as the abolishment of cash, UBI will inevitably lead to a Social Scoring system as implemented in China. This type of Totalitarian Technocracy is exactly what the World Economic Forum (WEF) would like to establish under the guise of the Great Reset and the 4th Industrial Revolution. This is not a conspiracy when the UK Government refer to the Great Reset and the 4th Industrial Revolution on a number of their official webpages.
Ultimately, it is debatable whether there are any truly safe havens for savings and pensions. I have come to the conclusion that Cryptocurrencies are no riskier than anything other options. On that basis it's a good idea to spread your risk amongst the different markets. This is NOT financial advice - just my thoughts about the whole system and what I'm currently doing in an attempt to achieve financial security. My choices are not necessarily right for you. It is up to you to make your own assessment, and perform your own due dilligence before doing what you think is best for you in your own situation and circumstances.
Digital Currency isn't going away!
Bitcoin (BTC) was the first decentralised digital currency that started in 2010 and spawned the financial venture into the cryptocurrency era. When it started , Bitcoin were given away for free, and there are many who wished they hadn't lost them or used them to buy a pizza!! Others, such as Ethereum (ETH) and now a myriad others, followed suit with new ones coming (and going in some cases) all the time. At the time of writing this, BTC has recently hit the heady heights of $64,000 (closely followed by a drop to $51,000) and is still looking likely to be one of the biggest growers in investments this year, both in terms of value and those who are getting involved. With recognition from the likes of Tesla (you can buy a car with BTC), VISA and other corporations using BTC as the currency to store their cash, the idea that it is going away is receding into the distance.
Various different countries are looking at launching Centralised Digital Currencies, including the UK through the Bank of England. Centralised digital currencies are bad news because they enable the State and/or whoever controls the Bank (all Banks without exception are privately owned by the elite) to use your centralised digital currency account to curtail your rights and freedoms. China already has a Social Scoring system whereby 'good' behaviour that obeys and follows the CCP State gets rewarded. This may seem all very well, but those who speak out against policies they don't agree with are restricted both financially and through the restriction of their human rights to travel and visit locations etc. This all happens via the Chinese citizen's mobile phone. Microsoft has already patented (Patent No. 060606 - I joke you not) a system whereby good deeds, as measured by monitoring technology such as an implanted microchip, are rewarded akin to cryptocurrency mining. The converse ability is clearly equally possible whereby individuals can be punished and restricted. Should this be introduced, it isn't a question of whether the system is ever going to be abused for control, but when. This is a very slippery slope to start out on.
People need to recognise the dangers and resist such a centralised financial evolution. It threatens the existence of cash too. Decentralised cryptocurrencies on the other hand, remove the ability of the State to use finances in such an individually manipulative manner. It is partly for this reason that I have been trading (in a small way) with cryptocurrencies for the past 3 or 4 years, although much of this was sitting tight and waiting for the recovery of Bitcoin and Ethereum after the big crash not long after I started! It is a volatile market and requires a steady nerve at times, and trust that the markets will recover if there's an unexpected drop whilst I'm out walking Boots or working away from home. The plus side is that gains can be quick too. If you are going to invest in cryptocurrencies I would recommend starting small - with a sum you can afford to lose if it all goes pear-shaped, and once you've got the hang of what's going on then you can always invest more. eToro for example allow mock trading (with both cryptocurrencies and shares) so you can play the markets as if really happening, but with virtual money so you lose/gain nothing and just learn and practice how you decide to operate. There are over 400 different cryptocurrency coins and tokens, depending on which platform you decide to trade from. Some cryptocurrencies are highly speculative and may be launched with the sole intention of a smash and grab raid on the coffers of the unwary/naive. Not every one is going to go to the stars, and as with any investment, do your due diligence, don't get too greedy and be happy with the profit you take! I stick to the better-known cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA) etc and just dabble in a couple of potentially upcoming ones such as QDT and GSX.
According to many of the top Cryptocurrency gurus (of which I am definitely not one!) such as Simon Dixon, it is highly unlikely and would be a rather silly move for countries to try to ban Bitcoin etc. The money that has been wasted due to the COVID lockdowns etc has to be repaid at some point. Banks can counterfeit money which they call Quantitative Easing (QE) but ultimately they will need to raise taxes. Provided all countries counterfeit their money at the same rate it should reduce inflation whereby your currency reduces in value in absolute terms. Clearly those countries who have wasted most money, and have printed most (such as the UK and USA) are at greatest risk of inflation relative to all the rest who have done the least QE, if any. Recognising cryptocurrencies and taxing trading proceeds etc offers the potential for substantial future tax revenue generation, not to mention the ability to obtain data. Contrary to the narrative that drug dealers and crime cartels etc love cryptocurrency for laundering money, the blockchain method of recording transactions provides a definitive record that cannot be denied. Future Capital Gains Tax on cryptocurrencies is inevitable. Canada has already demanded that BTC trades are identified. It is therefore inevitable, in my opinion, that some aspect of records will be made available to Governments to enable taxation of the cryptocurrency space and data-mining too.
I have listed some of the many cryptocurrency purchase and trading websites on the Platforms page for those who want to get hands-on and do the buying/trading themselves. Understandably, this can be very daunting for those who know of cryptocurrencies and the investment potential they offer, but don't have the confidence to wade in. For those who want to learn and understand more about the cryptocurrency world, see the latest News & Prices, and get some pointers for your trading, then you can access CryptoPlanet via the News and Prices link.