A Fool's Paradise ~ Are Our Financial Institutions Failing Us

0 19
Avatar for danireid
2 years ago

With cashless society came easier ways to carry around money but still that didn't stop the big bad wolves from ripping off money from our vaults.

Dishing out credit card incentives which incites impulsive buying among other things and more debts, more than normal monthly account and card maintainance fees, sms monthly charges and even as far as below average charged fixed rates from point of sales terminal transactions.

Central banks and apex banks intentionally devaluing their currencies and with such comes inflation.

And a pattern is created...

Cost of groceries and other necessity prices shoot up the roof, which then creates a heightened consumer price index and then comes in the use of credit cards which even further creates more debt.

Again money out of your pockets to the bank with even added up interest.

Low interest yields on treasury bills, bonds, certificates of deposits, fixed deposits and more.

Governments incessant obsessive compulsive disorder tendencies for lockdowns in a disguise to take a heist at the world bank for palliatives and stimulus checks budgets--i mean what else can be there, being that vaccines try outs are already under way.

This in turns shuts down the financial institutions leaving us at the mercy of point of sales transactions which again is another excuse to legally extort money from your pockets to the banks.

...i came across a post on reddit and the context of the article had me in horror and prompted me to write this.

When stock brokerage firms begin to incite incentives in the form of free stock acquisition to rally up new clients you know sh*t has hit the fans.

Have you ever tried to buy digital assets like Bitcoin, ethereum and it's like and your bank shuts down the transaction.

The unbanking season has literally hit a new milestone and this tends to scare the financial institutions and the SEC on Ripple is just one of the first waves to come but hey not saying there weren't some red flags with Ripple's dealings.

Tether $USDT can also be another evidence of government's attempt to bring about centralization to the decentralized non custodial blockchain ecosystem.

But it seems that fail safe fell short.

The clap down of Facebook's libra proposed whitepaper to centralize it's use cases and interoperability leading to the Diem rebrand was definitely inevitable.

Equities and stocks on the other hand have been somewhat on a scuba dive since the covid-19 tidal waves.

Well lockdowns, curfews and partial movement restrictions will do that to stock performance.

And if you know your maths proportionally you had know a slowed down economy means little or no productivity and with such no price to equity growth in sight.

Are our financial institutions failing us?

And is cryptocurrency our way out?

$ 0.30
$ 0.30 from @TheRandomRewarder
Sponsors of danireid
Avatar for danireid
2 years ago