It's Time To Wake Up!
Not long ago I went to lunch with people I know and as usually happens at such events, we talked about a lot of things to catch up. One of the topics that usually comes up is the job, the economical situation of the companies they are working for and the economical situation of the country in general. This is a topic that can't be avoided as it hurts a lot of people.
During these events I'm always prepared to defend my position as usually I'm the alien, living in a different world. That's ok, I'm used to it as innovation and trying something new in general has never been easy or without attracting criticism, so I have my arguments ready and I am also prepared to walk away from the discussion when I see it's pointless. Arguing endlessly just to prove my point is not my thing.
Obviously at some point I also had to open my mouth and answer the question about how's crypto going and when I said very well, I was told that BTC is going down and the end is near, because that's what they've heard. The end means BTC going to zero and disappear completely from the financial world.
When you hear such things, you always have to look at who's saying it and see if it worth the effort to try to explain the situation to the other party. In this particular case it would have been a complete waste of time, so I smiled politely, said no, never and considered the discussion closed. The other party obviously had a different opinion, so they said BTC is definitely going down and will disappear. There's a whole psychology behind how to argue but I was not there to do that, so to give them the possibility to have the last word of the argument (which for many, it means the world), I just continued to shake my head and smiled.
The funny side of the story was that the person trying to convince me that BTC is going to kick the bucket soon was previously telling us about how critical the company's future they are working for has become and that pretty soon they will be forced to look for a new job. Inflation was next on the topics list as it is affecting all of us regardless if you live in the old, obsolete economical world or if you're in crypto. Imagine losing your job and being hit by high inflation at the same time. That is reality for many.
Looking at the bigger picture, this scene most likely is repeated on a daily bases all over the world, so we were not unique in this regard. This situation is affecting everyone, just in a different way but the majority of the population is suffering and losing.
Yesterday I thought it would be nice to see what's going on in my country, so I started browsing the news and saw that raising the retirement age to 70 is on table again.
The life expectancy of Romanians has reached just over 74 years, the second lowest in the European Union. source
This is the chart of life expectancy in the European Union in 2020.
To add insult to injury, the Romanian lawmakers are playing God with pensions, which should be indexed with the inflation rate when it's necessary (which is basically all the time), but this rarely happens. Millions of pensioners are glued to the tv day by day, hoping to see some favorable news. Life for them is a day by day struggle to make ends meet.
People work and contribute to the state pension fund till they retire, after that, they struggle to have a decent life because their pension has very little value. If the retirement age will be raised to 70, many would not even benefit from a pension as a good part of them may not even get the chance to retire to begin with.
This is called modern era slavery and it is legal in many countries. It's bad already and it's going to get worse as money printing can only lead to problems, which leads to more money printing, which leads to more problems and this never ends, unless money is separated from politics.
Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No. 1. source
This is what Warren Buffett says. This is a golden rule in finance and by obeying the state imposed pension rules you are doing exactly the opposite. The state should guard your investment and make sure it has the same value when you get your pension, as when invested.
Someone’s sitting in the shade today because someone planted a tree a long time ago. source
Pension funds are meant to be those trees, to protect you when you're old, but planting those trees does not happen as funds are used to fill some deep pockets that seem to have huge holes in them. In other words, the guardian of your money can not be trusted, everyone knows that.
Price is what you pay, value is what you get. source
Warren Buffett's quotes are now golden rules, but not for everyone. The state doesn't care about the value people get for their investment when they retire.
As the chart says, this was one dollar's worth purchasing power in the United States in 2020. This is how the state has been managing money. The situation is even worse in other countries.
They say we should learn history to not repeat the same mistakes again, but the state is an exception from the rule, always.
Risk comes from not knowing what you are doing. source
What about when you know what you're doing, you know you're not going to get value for the price and you're doing it anyway?
Never invest in a business you cannot understand. source
What about when you understand that the state is going to gamble with your money, use it the worst way possible and you still invest in the business?
The most important investment you can make is in yourself. source
And we have arrived to the most important part of Warren Buffett's wisdom. This is something many don't want to hear, let alone do, as it's easier to rely on others and blame others when something goes wrong. This is a mentality many were raised to have and grew up with. but as long as money is not separated from the state and politics, this mentality is convenient for any state and government.
Most likely I will be told that there are private pension funds that are not tied to the state, but your state pension fund is still mandatory, so the value of your money is still wasted. The other aspect that should be considered when investing in private funds is that the purchasing power of your money is decreasing anyway, so i would not waste my money with them.
These are some arguments I could have mentioned at the event, but it would have been a total waste of time as those who are not ready to take matters in their own hands are never going to listen.
This is the sad reality and the sooner you realize you're on a slippery slope down, the better. There's no time to waste as life is short, you never know how much you have left.
We keep saying not your key, not your crypto. Trusting the government with your money, instead of trusting your own self is kissing your money goodbye the minute you contribute to the pension fund.
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It is crazy to work until 70 to retire. Absolute madness. After 70, how many healthy years do I have left? I doubt I'll even see that age. What am I going to do with that salary haha? It definitely makes more sense to invest in something.
I didn't want to get this post longer, but imagine the productivity a 70 year old can have and I'm not trying to be mean here. We live in a digital era, there's something new to be learnt every blessing day and let's not forget that after a certain age, your mind starting to slow down, like it or not. How can a 70 year old keep up? Why should a 70 year old work till they drop? How is that justifiable? What kind of society is this?
You are absolutely right on the money. This is not an insult to anyone. When I'm 70, I can't work half as hard as I did when I was 50. Many people get Alzheimer's before they reach that age. How can they work?
Those will be sent away and get their pension early, but the shitty thing is that it will cost them as a medical pension is less than a normal one.
Succinctly put, sometimes it is better to not engage with people who have made their minds up. The current system is a slave system for sure, when you have >50% taxation plus crazy money printing, it is insane to think otherwise.
I agree with you on that. If you look at how taxes are spent and what you get for free, it's insane.
I find it ironic that it's always people that have no idea what Bitcoin is, or crypto in general, that have the expert opinions on the matter which lead them to believe it will all fail to zero.
Lol, yes, exactly like that. And you're right, those are the people speaking up against crypto, who have no idea about anything.
The funny thing is they know the current system is not good as no one can hide that, they are suffering as well, yet, any new idea to change what is broken is rejected as it's too complicated to look into it.
Lol a lot of my friends around here try to shake me with crypto going to zero and all too. They just can’t seem to grasp how it works, and when we meet up occasionally, they tease me with the “how’s crypto going?” questions too. “Bitcoin hasn’t made you a millionaire yet?”. My mistake has been that every time, I try to explain over and over how it works despite knowing fully well they’re just mocking me.
Most them especially mock you when you say you blog or something like that. They don’t have a lot of faith in “internet money” or that it can ever be enough to sustain a person.
I know this too, no worries. Who laughs the last, laughs the best ;) You will see.
Exactly! Just watch their face, although that's not my intention.
This has been my mantra all this while. We definitely will have the last laugh:)
For sure ;)
Lol, I know who I'm sitting at the table with and know how far to go with them.
You know, the biggest proof to them is to show them you wallet or your growth, but no one in their right mind would ever do that 😂. No way! Let them believe we're dirt poor and broke. That's the best way.
I couldn’t agree more!!!
"I'm always prepared to defend my position as usually I'm the alien, living in a different world."
I know this! :D
The retirement age has been a hotly discussed topic in my country too these days. Not really for me though, I have never thought I would get any pension from the state. I don´t even want to. I think I can take care of myself, it would be great if the state just let us do that and stopped bullying us through pointless regulations, red tape etc.
That I agree with. It is bullying as you are obliged to pay the contribution once you're employed, otherwise you will face legal consequences.
Well, I´m officially a "self employed" but in this case, the bullying is even worse here...It would be so easy though. I don´t want anything from the state so I would appreciate if they didn´t want anything from me :D That simple.
Keep saying that for a long time, yet few want to hear that. On the other hand everyone gets to feel it and I wonder what place we live in 2 years from now. They say we live in a democracy, I say we live in an economic dictatorship full of regulations. Politics? A side game, puppets to keep the people busy.
How are you though lol? Hugs!
You are right and I fully agree with that. Yet, complaining seems the best thing to do as taking matters into your hand is not for many, right?
I'm ok thank you and I'm also glad to see you here. How are you?
I'm doing, still in this weird bubble of not knowing shit. It's a waiting game. Everything crumbled away and is on hold. It's weird. Maybe by next week I will know more lol. Other than that I'm trying to get over everything, which not even 2 months into I shouldn't expect too much. Everything is a reminder as the house is still not emptied yet. So Maik is still present which makes it hard as I miss him dearly. Normal grieving stuff I guess.
It has been said times without number that - crypto will go to zero, but surprisingly its a wishful thinking by those who seem to feel like their money (and to some degree their life) are to be protected by someone either the banks or the government, of which neither cares nor will in the future .
The not your keys not your crypto rule can be applied to many areas both in finance and in our daily life, because that is the first step to gaining ownership and freedom from the money slavery parasite that is infested in todays society. Many just want to be told what to do without clarity of thought and ask themselves why should the banks have to keep all their life savings for them when they themselves can do so without paying tax to anyone.
But it is what it is and those who are not into crypto now will evetually see the light when companies, banks and the government collapse someday, which is going to happen sooner rather than later. The system has nothing to hold onto except to extort from the average Joe.
BTC has been here for more than 10 years and it's getting adopted more and more. So, to say crypto is going to zero is a bit foolish.
That is very true.
Just look at what's happened recently, two or three banks have collapsed, yet crypto is still here. Well, these people will wake up one day (some of them, those who get to live the day) and regret not switching to crypto.
This is a typical situation. Most of the random people who criticize the crypto market don't know a thing about what is going on. All they know is bitcoin is going down and that means crypto is collapsing. (very laughable) And their minds are so fixed that it will take you infinity to get them t understand what actually is going on.
It made me sad reading this and realized a lot of things about how our society now works. It's not justifiable in many way especially the pensions later on when we gets old.
Those pensions we believe that can save us from the old life is not assuring anymore because of those deep pockets. huhu.
That's why we really need to do whatever it takes to be stable in this life.
Hi very interesting post.
Do you have any idea of your down vote to a few posts of mine?
Thanks for your relpy
I know that conversation you were in. Happens here too. Everyone seems to want to get their digs in when the price is down...but have they looked at the news lately? Five banks have just gone "POOF" and are asking for bailouts. The US is caving in, the Europeans not so much. Will be interesting to see how that plays out.
Pension funds in most places like you mentioned are exactly the same as those banks. There have been so many warnings in the past and the 2008 recession should have taught people some lessons. How many people lost their houses due to the interest rates going up and bonds and nutfuckery behind the scenes?
Warren Buffet has some good sayings but even he wasn't fool-proof. He lost big on a lot of things too, but managed to turn it around. I hope that some of those folks you were chatting to can too :)
That is ok and considered normal as people are used to it. Sad really, but that's how these things work in their mind.
I like Warren Buffet's sayings as they are mostly to follow. Obviously even so you can make mistakes as no one id bullet proof.
The people I mentioned most likely will continue to live as they have so far as struggling day by day takes up most of their time and making some changes takes time, effort and some knowledge. Not everyone has it in themselves. It's sad, bit some people never change. I can accept that, it's their life, their responsibility, but what bothers me is when they attack and condemn someone who is trying something different. Funny thing is, those who are trying something different are condemned fr doing something different, then when they succeed and get rich, they are condemned again for being rich 😂. That's when they are told it's easy for you. I think you know the scenario.
Oh yes, you're damned if you do, damned if you don't. Being different demands a price to be paid and it's good that you go with your statements ready for the show down.
Haha... It's always funny hearing that from them but most times I don't blame them for talking out of ignorance.
You know when someone doesn't have enough knowledge on a subject matter, he tends to talk anything that comes to his mind
Information is knowledge and knowledge is power 👍
This is the main reason I don't trust the banking system of my country. There is a time you will need money and it won't be ready just because of their excuses. But with crypto, everything is secured and we can constantly monitor our way always.
Thanks for waking us up