This week's podcast episode is my full @DohaDebates on the nature of money with two MMT economists, @jasonhickel and @ptcherneva. This was a good one you don't want to miss!
MOST INSPIRATIONAL MESSAGE I’VE HEARD IN A WHILE THAT ALL OF US YOUNG HUSTLERS NEED TO HEAR RIGHT NOW IN THE AGE OF AI !!!! 💥 🤖 💵
by @SimonDixonTwitt on @JonesDanny pod 🔥
"The battle is not left and right. It's not Republican, Democrat. It is CENTRALIZATION versus DECENTRALIZATION. The technology is centralizing. The finance and central banking is centralizing.
YOUR job is to digitally resist and understand that owning your own data, owning your own AI, creating your own environment is actually the skill that people need into the future.
The only way you can win in this game today is you need to own more assets EVERY month. Which means you need to spend less than you earn and invest the difference.
Most people say no chance, my numbers just don't work. Well, I was that person. I was at one stage in the most severe debt, and all of my money was going on servicing debt and interest. One day I had to face it head-on and realize there's no substitute for this. I've got to pay myself and invest in some assets. That happened in 2011. The asset that I chose was Bitcoin when it was about $3. I'm not here to pitch Bitcoin. You have to own some gold, some assets, whatever it is for you. If you do that every month for the rest of your life, you'll be fine.
But they don't want you to know that. They want you thinking you got to get a 1,000X on a crypto scam tomorrow cuz the world's over. Everything's about short-termism. The way you defeat the system is by actually believing that there is a bright future for yourself, have confidence in yourself, recognize that the rules are actually quite simple.
Earn your income with the gift that you've got today. The gift that the boomers had was buy property, get a job. That doesn't exist anymore. You were born with a phone in your hand. That phone was a weapon that did severe psychological operations to you, but it also gave you the opportunity. I've got the best assistant with AI that I've ever had. This is both the worst and best time for people that are harnessing it.
You're going to defeat this by leaning into the productivity, BUILDING something using the tools available to you today, investing in decentralized stuff, building your own stuff, and helping other people do that.
You vote with your money. In terms of geopolitics and macro, I want to understand how they work, but I'm not going to change them. I'm not going to stop the control grid. I'm not going to stop the FIC (Financial Industrial Complex) from building multipolarity. In the end, what do you control? You control YOURSELF. Your mind, what you consume. Your spiritual connection, your soul. Your health. Your relationships with your family. Your home. Your community.
Don't see the world better than it is or worse than it is. Just see it as it is. Try and deprogram yourself. Whatever they're trying to algorithmically get you to do is probably the opposite.
Become RADICALLY optimistic about what you as an individual can achieve. Become realistic about the world as it is. Accept the world as it is and lean into it. Own more assets every single month, and believe that you're building something and there is a bright future. We're moving into so much uncertainty, but it's kind of exciting at the same time as petrifying."
Full episode: https://t.co/ljZMGw1IYB
Couldn’t have put it better myself, but to sum it up in my own words. Us young people in online biz We have the greatest opportunity. asalways, we gotta stay locked in on our health mindset and businesses and forget about all the media that is about doom because we literally can’t control it but what we can control is what’s in front of us, so let’s fucking crush.. personally I’ve always been a super optimist and continue to still be. . But of course, it’s natural There’s going to be lots of fear because fear - of the unknown is the most natural animal instinct, and no one is quite sure the implications of Ai.. but it’s The most goddamn exciting time ever.
🇵🇾 Paraguay’s Ueno Bank has been shut down after regulators discovered its capital had fallen below half the legal minimum.
Nearly 3 million customers affected.
Hundreds of millions in public funds, including pension money, exposed.
Now watch how the losses are distributed.
They can socialise the losses through deposit insurance, a taxpayer-funded bailout, or a bail-in imposed on creditors and uninsured depositors.
Then transfer the viable assets and customer deposits to a larger bank.
The losses can be absorbed by depositors, creditors, insurance funds or taxpayers.
The surviving Financial Industrial Complex (FIC) players can acquire the assets and customers.
Socialise the losses.
Privatise the gains.
Consolidate the banking system.
Wash.
Rinse.
Repeat.
Remember.
When you deposit money in a bank, you generally become an unsecured creditor of that bank.
You have effectively lent the bank your money.
The bank becomes the legal owner of those funds.
In return, you hold an IOU, a legal claim against the bank, protected only to the extent applicable deposit guarantees and recovery rights allow.
Your bank balance is the bank’s liability.
Not your money sitting in a vault.
@kinetic_finance Would be great to build them in the territories. 140,000 people live there and it’s 40% of our landmass. Not to mention it’s already fkn freezing. But the conversation will never get that far unfortunately…
@LukeGromen Do you think this PHP is the canary in the coal mine for what’s to come with the restructuring of the US and then Global banking system, specifically to alleviate this from becoming the narrative?
Inflation is how we ended up in a world where you can make more money than your parents and afford less.
We’ve never been better at producing things. Yet somehow, buying a home, raising a family, and saving for the future have become harder.
Something is broken.
Victor Davis Hanson OBLITERATES Mark Carney
Hanson says China see him as WEAK.
The world is laughing at Canada.
Canadians were sold a heavyweight on the world stage.
We got a punching bag.
Elbows up at home. Laughed at abroad.