My Introduction
Hello all, thought I'd not bother with the run of the mill "hi my name is Bob" for a first post and instead share a short story.
I have been an avid saver and investor for decades. Back in my youth I remember walking to the corner store with a handful of pocket change and loading up with chocolate, soda, potato chips, and a big bag of
jubejubes. Back then my loot would cost around $2.
I get to marvel at my own kids today, heading off to the corner store to buy exactly as I had done some 40 years ago. Theres one big difference. They no longer bring a few quarters for their bounty.
Rather, they are packing 20 dollar bills... and spending all of it to get the same amount of goods as I had previously stated.
a 10x increase in the cost of goods from 1965 to 2019. Thats roughly 6% inflation, compounded yearly for 40 years.
The scariest part is that inflation is merely a codeword for "currency devaluation", and the trend is accelerating. Fast forward 40 more years and how much of that cash you stashed under your mattress
will you need to spend for a loaf of bread. At todays cost of around $3 for a loaf, then in 2059 you will have to fork out around $30. For a loaf. Of bread. And thats if inflation rates dont rise,
or the dollar itself doesnt collapse.
(spoiler alert... they are!!)
Funny thing about all this is, if i take that same $2 in 1960's quarters and calculate its silver melt value, my kids could have still paid that same $2. Precious metals have always kept pace with
inflation, and will continue to do so for some time.
We are fortunately living in a great time. More and more people continue to wake up to the injustices and horrors of our fiat based ponzi scheme monetary policy. Behind us we have precious metals,
forward is crypto. I know many a boomer who thinks crypto is a scam, and many a millenial saying the same about precious metals. Infact both are wrong, at least partially. I continue to stack BOTH
while exploring this platform and learning all that I can from you good people. Hopefully, I may also be able to share some of what I have learned to you all in return, and we can together propsper
in what will likely become the greatest wealth transfer in history!!
Cheers
Hello @dragonfart, welcome to the wonderful world of steemit. This platform has so many benefits to offer its users and its a great tool to network with others. I can relate to your story regarding how the cost of living has drastically increased over time. The same thing goes for this cryptocurrency world. I can remember 2 years ago when I first got my taste into this world, it was a learning experience I won't forget. I've had plenty of up and downs yet I've learned how to maintain steady growth. Always be willing to learn would be the best advice I can give ya.
thanks !! i try my best to slowly build so that when the inevitable happens ill be sitting on a nice stack :)
Hey mate, it's great to have you here with us! Looking forward to seeing more content from you, you 've got a lot to offer to the platform. Keep them coming, and keep stacking precious metals!
See ya around!
thanks for showing me the way! look forward to much fun here!
Welcome to Steemit! Great article. Most people I speak to about inflation think that it is a conspiracy...when the facts are not even attempted to be hidden. It is openly built into our monetary system since the removal of precious metal backing the dollar.
Posted using Partiko iOS
I totally agree, only question is how long can they keep the ponzi going before the system gets replaced (hopefully with sound money)
i believe that they are running out of ammo, zirp, nirp, and cash bans have already begun.
consider posting in #introduceyourself.
This is a good place for others to see that you are new here and get your name out there.
Interesting observations with inflation. Scary in fact! Now following.
likewise and thanks :)
Welcome to Steemit 🐉 💨 sorry I thought that was emoji funny!
I saw your #introduceyourself and its nice to meet you.
Blogging is what its all about on this blockchain. The best part is that you could earn money.
I have been here for a while and love it!
But be carefull with all your passwords, Never give those up !! They are yours.
For safety tips visit the white paper.
The Steemify App I use is also great, it is available in the Appstore and free, you can See Whats happening in your account. https://steemit.com/busy/@exyle/using-steemify-to-stay-up-to-date-about-the-blockchain-like-project-destiny-please-consider-blockbrothers-for-your-witness-vote
Also Appics and Steepshot are handy apps and Free. I wish you good luck steeming and I Will See you around🍀
Your value and input is appreciated and if you have questions let me know.
We (@xcountytravelers and I ) are presenting New comers in Our @Heyhaveyamet blogs, and There is a Discord called SteemTerminal for newbies and All questions, join in, I am on steemit everyday ! You can always leave a comment.
Greetings from Brittandjosie from the Netherlands
lol the emoji is awesome thanks for the reply!
sorry for the delay, im new to the platform and learning as i go. needed steem power :)
Modern fiat currencies are specifically designed to fail. The governments use them so they can make empty promise debts that they can pay later with devalued collapsing currency. This is why they all fear cryptos. The idea that they can't just float debt and possibly even can't hide spending just terrifies them. Inadvertently... a silver lining to the FRB is the US did prove that a government doesn't have to run a currency. In fact we also proved the ones who should be no where near the operations of a currency is both a government and a bank.
You are absolutely right! its hard to say how it will all end but I really believe that crypto is the modern version of the american dream. it cuts out the parasitic filth and waste, sans manipulation. im betting they eventually try a crackdown, hopefully they fail. keep stackin
Crypto's just make sense. They have been using a variation of them for MMO's for years now. It's how they can find hackers. They can track transactions of a single gold credit right back to the point it was created by the server. So we know this system works. A open sourced system that is transparent. You can't stop it. In fact I just read recently where all the world central banks admitted to they are using crypto's or will be using crypto's in the near future for bank to bank transfers. Banks are really resistant to crypto's because they lose control and a lot of money made from phony bologna loans. But in the future they could still make loans and investment capital. The ones pissing themselves is the governments. No playing stupid shell games with money and sink holing crap into stupid subsidies and social projects. I think what we will find when the government and the banks can no longer cheat, that everyone will have a lot more because the cost of living will come WAY down.
Well said, dragonfart! I totally agree, that gold, silver and cryptos should be a good hedge for the challenges that lay ahead. Who knows what is going to happen once the financial system actually starts failing in the "first" world.
short of growing potatoes on our balconies this is our best hope! the more we opt out of their rigged ponzi the better off we all will be :)
Yeah, the biggest ponzi ever in history of mankind. Crazy times we live in.
Welcome to the platform :)
thanks!!
looking forward to learning as much as i can :)
👍
Posted with
Welcome to Steem.
Here is the real family, forget Cent :)
By the way, Steempeak.com has much more features than Steemit.com
thx man I'm really enjoying it so far. Can't believe that I didnt join sooner. so busy slaving in the bush to get bills paid, that 53% tax bracket sucks the life force from you, lol
Welcome to Steemit @dragonfart, I can certainly testify to the realities of our failing and corrupt Central bank run currency as it exists. I also Stack Crypto ans PMs perhaps for the very same reasons. Let me be first on behalf of the #steemsilvergold #ssg-community to Welcome you to Steemit!
really appreciate the reply with apologies for the delay. I'll be sure to check into this further, hopefully I can contribute !!