Nostr Web Client

Erik The Decentralist 2y ago

Confirmation Bias in full effect...

https://twitter.com/gaborgurbacs/status/1637783982271082496?t=AT-fKN1rLgB3M1-DkJCeTA&s=19

Erik The Decentralist 2y ago

SPOILER ALERT

You can't taper a ponzi.

The more money that the state prints, the weaker the state gets.

This causes them to scale up the manipulation in order to keep the system running.

Time to start your escape..... plan #Bitcoin

Erik The Decentralist 2y ago

I just got my grade 11 math.

I've been making calculations all weekend.

And I've concluded

1 #Bitcoin = 1 #Bitcoin

Erik The Decentralist 2y ago

"Pssst: Your bank stocks are about 4X overvalued.

#bitcoin    is about 40X undervalued.

Bingo!"-Greg Foss

Erik The Decentralist 2y ago

It’s all a bailout

You can’t “backstop” a bank with imaginary money.

Erik The Decentralist 2y ago

We are facing a systemic banking crisis.

But it's not all bad.

Here is where you can find hope in the chaos:

We're all well accustomed to the fed starting fires and putting them out;

Widespread bank failures so far;

• Silvergate Bank

• Silicon Valley Bank

• Signature Bak

• Credit Suisse

• First Republic Bank

Banks make risky moves with your cash so they can profit. Making the money, you deposit into the bank a risk asset. They risk your cash for their gain.

Banking Crisis Created by The Fed

The Federal Reserve was so worried about inflation that it wanted to slow the economy. They did this by removing liquidity from the economy by raising interest rates.

The Fed raised rates too quickly, which led to the banking crisis.

The Fed "Saves the Day"

This week, The Fed injected billions of dollars into the banks. This is an issue because they have yet to win the fight against inflation. So now the Fed is fighting a systemic banking crisis with sticky inflation.

Creating a lose-lose situation

Forever State of Inflation

The Fed is protecting against bank failure. So, we need to get used to a system of inflation. Pandora’s inflation box has been opened and won’t go back in.

The issue is only some understand inflation and investing. Creating a widened wealth gap.

#Bitcoin is Thriving

#Bitcoin is up 65.97% YTD, with 35.29% coming after the bank failures started.

Many think #Bitcoin is a risk asset, but they are again being proved wrong.

Replying to

allen

I just realised something fascinating in arguing with normies on the bird app. “credit creation” is talked about like it’s totally normal but it literally makes no sense. you can’t “create credit”. you either have credit or you do not. you can extend your own credit to others, but you cannot “create” it. you have to build it yourself and then transfer it. there is quite literally an element of proof of work involved. people only trust you because you have demonstrated your trustworthiness. it’s a fiat fantasy that you can just whip up (i.e. “print”) credit.

what “create credit” has to be taken to mean is just seigniorage. it’s fascinating to me that this is true by mapping to how fractional reserve and central banking actually works in the real world, but also in the linguistic scheme of the euphemism. by failing to extend *your own* credit, you are necessarily extending that of absolutely everybody else - without their consent, of course. it is blatantly fraud when framed this way (it’s blatantly fraud anyway, but I like how this framing forces the issue).

I realise this is just semantics but it’s fun when you catch them in these little traps that reveal they are just repeating things they’ve never actually thought about. next time somebody says “credit creation,” make sure you snap at them and explain what credit really is 😉

Erik The Decentralist 2y ago

That's what's insidious about indoctrination.

Naive beliefs, following without looking and trusting without questioning

Replying to

0xtr

"Perfect is the enemy of good"

Well said #[0]

Erik The Decentralist 2y ago

Perfect is the Dragon.

It's fine to chase the dragon just as long you know you'll never catch it.

Erik The Decentralist 2y ago

REMINDER

Inflation works because people don't seem to mind having their money stolen in slow motion.

Replying to

The-FewBTC

For the #newbies. Be sure to follow.

Don’t make this a hellthread 🤣🤣 and don’t beat me up for mentioning you all . Just follow them and zap them some love. I don’t ever make lists but so many of you have been here since I began this journey. So many of you if I don’t see your notes, I search and zap. I know I have my nights and sling the sats. But I make sure to send some your way if you aren’t here. So if you aren’t following anyone in this list. Be sure too. I know I left so many out and honestly don’t be upset 🙏 I could literally recommend all of you 🤜🤛 but just wanted to show some appreciation for those that I have followed all along. Once again. Thank you for always being here 🤜🤛

#[1] #[2] #[3] #[4] #[5] #[6] #[7] #[8] #[9] #[10] #[11] #[12] #[13] #[14] #[15] #[16] #[17] #[18] #[19] #[20] #[21] #[22] #[23] #[24] #[25] #[26] #[27] #[28] #[29] #[30] #[31] #[32] #[33] #[34] #[35] #[36] #[37] #[38] #[39] #[40] #[41] #[42] #[43] #[44] #[45] #[46]#[47] #[48] #[49] #[50]

#[51]

#[52]

#plebchain 🤜🤛 follow ☝️

Erik The Decentralist 2y ago

Zap for you

Erik The Decentralist 2y ago

WARNING

Always be suspicious of people who quote Institutional objectives, speak of Institutions in the third person or conflate them with "the group".

At some point, these people have compromised their integrity and individual sovereignty in exchange for Institutional favor or they're in an echo chamber.

If Institutions were human, they'd be psychopaths.

But they're not human, they're a system.

Every Institutional system on earth has the same priority;

Expansion at all costs, even itself.

Replying to

nen

i wonder what is the kremlin by your definition?

there’s no man who actually in charge or can make *any* decision besides putin himself – he spent 20+ years by removing potential candidates from power (and even his allies with any creative intents) bc of how controlling he is.

for me it sounds like “putin won’t let himself to be hold in custody” ofc he won’t, it’s common sense

Erik The Decentralist 2y ago

Saying "The Kremlin" is comparable to saying "Washington" or "Capital Hill"..

Erik The Decentralist 2y ago

THE STATE: Lets spend the next 50 years using inflation to knock out 87% of peoples wealth while leaving wages flat...

It's so slow, nobody will notice...

Erik The Decentralist 2y ago

REMINDER

A Deflationary world is amazing for us but terrible for the state.

Erik The Decentralist 2y ago

QUESTION;

If $400 Trillion wasn't printed globally over the past 50 years, do you think house prices would have increased?

Erik The Decentralist 2y ago

QUESTION;

Over the past 20 ith yeaes $185 Trillion has been printed globally to create $45 Trillion in growth...

Does this math look healthy to you?

Erik The Decentralist 2y ago

REMEMBER

"Money itself is a confidence game."-C Long

It always has been.

Erik The Decentralist 2y ago

REMINDER

People are angry because they're victims of the biggest heist in human history.....

The global monetary monopoly and their fiat currency.

Erik The Decentralist 2y ago

REMINDER

The problem isn't person, party or institution; It's the core of the monetary system thats the problem.

Erik The Decentralist 2y ago

REMINDER;

ALL BANKS ARE ILLIQUID AND/OR INSOLVENT AT ALL TIMES.

The business of Banking is fraud.