One step at a time. We need sound money first!
Narrative will blame crypto and push CBDC. The sheep will follow
It is disheartening to observe a system wherein depositors, who may be unaware of their status as unsecured creditors to the banking institutions, are receiving a bailout from the very government that instituted the financial system.
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
Just in: bank runs and mail ins around the corner
Bill Ackman acknowledges the following on Twitter
“From a source I trust: @SVB_Financial depositors will get ~50% on Mon/Tues and the balance based on realized value over the next 3-6 months. If this proves true, I expect there will be bank runs beginning Monday am at a large number of non-SIB banks. No company will take even a tiny chance of losing a dollar of deposits as there is no reward for this risk. Absent a systemwide @FDICgov deposit guarantee, more bank runs begin Monday am.”
Find out how to shield yourself from the upcoming bank bail-ins with these tips.
1. Spread your money across multiple financial institutions, but steer clear of those with massive derivatives or mortgage portfolios (usually larger banks 🏦).
2. Continue to monitor the stability of the banks. Financial statements, credit ratings, industry reports, & capital adequacy ratios (CARs).
3. Consider moving money out of the banks and into assets like #Bitcoin , gold, real estate, and cattle.
4. Keep in mind: FDIC insures up to $250k per depositor (not account). Last I checked they only have a little less than 130 billion for over 9 trillion insured deposits! 🤡
The fractional reserve system used by central bankers throughout the world is modern slavery. Except this way the slaves have to pay for their own room and board.
In this system MONEY = DEBT. The only way to increase the money supply is to increase the debt. Because of interest there is no way to pay off all the debt and it becomes a game of musical chairs as we all struggle competing against each other with poverty built into the system. With an never ending debasing value of currency, no wonder it is called a RAT RACE. We are the losers in this system.
#bitcoinisfreedom
Check out https://clams.tech
PWA that does the same thing using runes for authentication. No need to install app.
This is the way. PWA, self hosted, minimal trust.
✈️ zapping above the clouds ☁️
✅ mile high zap club
I’m using https://lnlink.app to pay invoices. It’s an iOS app I wrote to use a CLN node as a lightning wallet. It works great in the air, it connects directly to my node at home over the lightning network. No tor or vpn needed. Super fast! Since it connects over lightning instead of the web, there are fewer connection round trips needed, so it’s probably the fastest way to pay with lightning in the air or from space 🚀🤓
I plan on integrating lnlink directly into damus soon! This will be the first of many ways to connect to external nodes for direct payments without having to leave the app to pay.
You should try out clams. Progressive web app that can do the same but without needing to install an app. Just works in the browser. Open source and can also be self hosted. This is the way.
I tested this functionality out and couldn’t log back in on damus but could on other clients. There was no way to undelete and now I’m starting from scratch…
The fractional banking system is the crime of the century. We are all slaves to those who control the money. Capital controls labor by controlling wages. Because the only way to add to the money supply is through debt, the debt CANNOT ever be paid off. It was designed this way.
Deleted my other account when testing a nostr client functionality. Please give me a re-follow! 👍