Just now talking to a friend about the concerning situation with SVB, regional banks and Credit Suisse…
Him: “Oh don’t worry about it, things will be fine. This sort of thing happens every few years.”
This is a very accomplished, self-made man who built an extremely successful insurance business from the ground up!
I guess the building being on fire isn’t enough for most people to see it. They are going to need it to burn to the ground to start feeling concerned 😓
rest in peace.
Sounds like we have the same normie friends.
🤣
Yeah, it’s becoming a little disorienting and a lot maddening for people I love & respect immensely to be so dismissive of me and things I share with them about the state of the economy. I never want to be in an echo chamber, but I am beyond frustrated.
💯
Totally agree. Makes me grateful for the people in my life who are willing to listen.
With some people, you can’t tell them the stove is on. They have to touch it to see for themselves.🤷♂️
Same. Im erroring on the side of being hella annoying. Would you let your friends n fam continue to picnic on the beach when you know there's a tsunami coming?
The problem is they refuse to believe a tsunami is coming.
It's so brutal. Im building a huge life raft because I know I'm gonna be picking some folks up along the way. Trying to stay humble and thank God for giving me the grace to see it and ability to execute, where most are barely surviving.
If a system requires emergency action to prevent a catastrophic failure every few years, it might be a good idea to consider the quality of the system.
Comfort zone perspective from him.
And when it's burn down the arsonists dressed as the firemen will be celebrated by your friend for their solution.
When are the Bitcoiners going to build an island so we can get away?
Aah those good convos with the normies in the streets. They’ll never learn 😅
Bail-outs and “free money” have been completely conditioned and normalized amongst the majority of the population. That’s why they won’t participate in the asymmetry that’s going to occur.
That is just nuts... I don't get it. How can be bail out normal? It is like saying please take my money because you have failed to manage risk... 🤷♂️🤦
Problem is he’s basically been right forever…and maybe for many more decades…I hope not but kick saves and can kicking is the norm-and most don’t care about what we see🤙
It's a hidden cost (one of many) of the system. Good thing we have a way to step outside of it when/if we choose to.
My parents would talk a lot about success and failure like they were managed through the mind. Imagine only success expect only success.
If you watched Jpow's answer on why 2% inflation, he gave a similar response. Thoughts and prayers for 2% is going to give us 2%. Well, why not 0% then, thoughts and prayers y'all, only 0% inflation.
Your friend sounds like these people.
The Fed and Treasury essentially bailing out SVB is the system “working” in the eyes of people like your friend, which unfortunately is most normies
Explain to him how inflation works and how it transfers value unpermitted to the owners of the printer. Then show him proof that it happens.
Done. His business has only grown year after year so he says it all evens out 😖
His bussiness might grow, but that is not the majority. And once it stops, it stops.
That’s the problem, I think most people don’t care, even generous and kind people because it doesn’t impact them directly. He employs a lot of people and pays well so he feels everything is fine.
What kind of bussiness?
Insurance. You would be shocked at how much revenue they generate.
Insurance... In my country they call it scam XD but yeah. And you said you are retired?
They aren’t wrong but people don’t have life insurance or property insurance in your country?
Sold our practice in December. June 30th is our last day ☺️
If you would store all your dollars safe in home you would be way better ensured. Nobody would need an insurance. However, security is 9fcourse a thingy, asswell as storage.
Guess where Bitcoin comes into play ;)
The things we buy hoping we never have to use them. It's like buying a fire extinguisher and then hoping your house doesn't burn down.
I don't know about you, but every time I think about life insurance, I feel like I'm signing up for the ultimate pyramid scheme. I mean, I pay money every month, and if I die, someone else gets the payout. It's like a reverse lottery where nobody wants to win.
And then there's property insurance. You know, the thing that's supposed to protect your house and all your stuff. But have you ever actually read the fine print on those policies? It's like trying to decipher a code written in ancient hieroglyphics. "Acts of God" this, "exclusions" that. I swear, if a meteorite crashes through my roof, I'm just going to call it an "act of negligence" on the part of the universe and hope for the best.
But you know what really grinds my gears? When insurance companies try to upsell you on all kinds of crazy coverage you don't need. "Would you like to add earthquake insurance to your policy?" Um, excuse me, but I live in Ohio. The biggest natural disaster we have here is when the Buckeyes lose a football game.
And don't even get me started on those commercials with the cute talking animals. "Get Allstate and be better protected from mayhem like me!" Yeah, because when a moose crashes through my living room, I want a talking gecko on my side.
In the end, I guess we all just have to hope for the best when it comes to insurance. And if anything does go wrong, well, at least we can all commiserate over a drink at the bar. Cheers to that.
Yes to all that. Oh and Go Bucks!
What did you reply him?
Gave him all the facts & data around inflation, the bailouts, the FDIC. Finally, his response was, “Well we survived 2008 didn’t we and look you are retiring and my business is booming. Doesn’t look like a catastrophe from where I’m sitting.”
Just tell him that they will accidentally lose his money and give him some digital money in return that they printed out of air without any difficulty and with total control. Then he might learn.
He thinks cbdcs will be very convenient. “How often do you carry cash these days anyway” he said.
How likely is the chance they block access to his CBDC versus access to Bitcoin or Cash😃
he has lots of money? tell him to just get some #bitcoin and hold it
Every time I see him. He laughs and says, “I bought a little only because of you, but I’m not joining the cult.”
Current day “neutral” during the American Revolution.
Patriots = Bitcoiners
Loyalists = Fiat luddites (s-coiners)
Neutrals = avoid picking a side
“However, as the Revolution went on over the years it got harder and harder for neutrals to avoid picking a side.”
I don't know if it's more naive optimism or a little selfishness.
How can we win if no one wants to fight?
They will want to fight when it negatively impacts them.
Which we could make a case that it already does
I agree with you, nobody cares unless it’s happening to them
Agree, but what I have discovered among my friends is that as long as they are maintaining a high standard of living, inflation, bailouts, the middle class shrinking, etc doesn’t bother them. It’s too bad and they will give to charity to turn a blind eye to ease their consciences.
At best people have this warm blanket of mental comfort that "everything is ultimately going to be fine" because that's how things have been for them up until then.
Like this FedNow shit... people won't even notice a change has been because the FED will make it as seamless and under the radar as possible. People will just know they won't have to worry about the fact the bank is closed on the weekends for them to conduct business. Eventually, they won't even need their regional bank as the FED will become their bank.
Obviously, nothing nefarious could possibly happen at that point.
The smell of smoke doesn’t burn. Same thing here. I’ve separated from some friends as we just don’t have much in common any longer. Small talk doesn’t suit me anymore.
Insurance agents are just bankers in disguise.
Your post is creating a buzz.
Added to the https://member.cash/hot feed
People dgaf about these crises unless it directly affects them. People are selfish and that’s the sad reality.
*Building on fire and structural beams falling on people*
Him: “Oh, don’t worry about that either, it’s common for people to get crushed by the heavy weight of huge financial structures (that holds up the entire system) and are on fire. Happens every few years. 🤷🏼♂️”
Haha, yes! I’m really patient, but I was ready to pull my hair out I was so frustrated.
Oh, I feel the same way. I was talking friendly (and then debating) with a friend that’s becoming a financial advisor and he said he’s not 100% in fiat. I asked him if he had any bitcoin in cold storage, he said no. I then told him that he’s 100% in fiat then.
Look, none of these failures lasted even a few hours of the trading day. Governments are signally that they are willing to backstop treasury based failures. So this time is different.
Until they can’t. We are just not there.
