He who rules money rules the world. And those who control the money are the banks.
Anyone wishing to participate in the economy must hold a bank account; In fact, holding a bank account is considered as one of the necessary qualities of an adult and self-employed person. Without a bank account he would not be able to neither buy nor sell, neither work nor receive wages, nor pay rent nor the bills, and hundreds of other small and large things, which are taken for granted for all who are already in the system. In most cases it is enough to disconnect a person from the banking services to make his life unbearable. Although it is still possible to operate without a bank account and use only cash, the possibility disappears as the banks strengthen their control and grip. In some countries, the process is already over, and the banks are the gatekeepers and the fateful ones who decide whether a person is allowed to participate in the economy, or who should be wiped out of society.
Banking is based on trust. We entrust our entire lives to the banks, and the banks demand full trust from us.
And the banks are raised in our faith again and again.
And do not pay any price for it.
It is too short to list all the exploits of the banks over the years. Here are just a few notable examples.
In March 2013, the banks in Cyprus confiscated overnight 15% of all balances in all active accounts for the purpose of "saving the economy from collapse", a collapse that they themselves brought on the country in irresponsible conduct and unbridled greed that warned those interested for years. In doing so, they proved that not only are banks not a safe place to hold money, but that others will pay for their mistakes and corruption.
In April 2018 the Australian Government Commission of Inquiry issued a draft serious report on the conduct of all four major banks . Findings included bribery, fraud, forgery of documents, aggressive sale of financial services to vulnerable clients, collection of commissions from deceased clients, disregard of conflicts of interest when providing financial advice, granting loans without proper risk assessment, attempt to mislead the Audit Committee and more. In February 2019 the committee submitted its findings as a series of “recommendations”. As a result, two bank chairmen resigned, but the investigation had no further implications.
In September 2020, thousands of documents were uncovered proving beyond a shadow of a doubt that the five largest US banks consistently and organically engaged in the management and money laundering of drug cartels and organized crime . One fine for all, and another for associates, openly and without any shame.
And that's not all. In addition to being gatekeepers and destinies when it comes to participating in economic life, banks also control the process of issuing money, which they divide among themselves and their associates first and foremost, and only then allow it to slowly seep into the common people, producers of all value The economy. They make the decisions in closed rooms without any transparency or control, and without having to bear any responsibility for the results. For example, under the pretext of "supporting the economy in times of crisis," the US Federal Reserve operated the money machines during 2020 and printed trillions of dollars , amounting to a quarter of all the dollars ever used. In Israel, however, no such exceptional measures were taken. The central government did make a decision to reduce the leverage requirements from the banks. As a result, in order to grant a loan of NIS 100,000, the banks will need equity of only NIS 5,000 - a net profit of NIS 95,000, from the air, and almost no risk. I guess many of us would agree, if we had the right to lend such sums As such, we would not bother at all to collect interest. No wonder, then, that the banks chase after us day and night in an attempt to sell us a loan, no matter what the purpose? In any case, whether by printing money or by changing the rules of leverage, banks reach the same result: an increase in the supply of money available to the economy, and as a result - a devaluation of its value, inflation.
Since the establishment of the state, the banks have played two sovereign currencies to zero, and are working hard to eradicate the third currency. History has repeatedly shown that allowing banks to decide on monetary policy is an irresponsible act. Moreover, this is a recipe for disaster.
The only solution is to expropriate the control of money from the banks and entrust it to a mathematical system built on incentives, the rules of which are set in advance and cannot be changed. A system that operates without bias and preference, immune to corruption and external intervention. A system that allows anyone to trade with any other person, directly and without intermediaries, without having to ask permission or explain themselves to any person, organization, bank or country. The same system has been known since the end of 2008 under the name " Bitcoin: Collaborative Electronic Money ".
Bitcoin is an empowering and liberating system that allows everyone to participate in the economy - even those who do not agree with their views. The control of money is in the hands of the holder only, and he is allowed - and can! - Do it as he pleases, without anyone having a say in the matter. Transfers are made using the public declaration method, and are registered in a decentralized, non-interference-free public database. There will never be a fake Bitcoin in the world, not because of any deterrence, but because the laws of nature and mathematics will not allow it. Private money that no one can boycott or even know about without its explicit cooperation from the holder, electronic gold that can be launched from anywhere and anywhere at lightning speed ... a person who is not full of admiration for Bitcoin, probably just does not understand the same ink.
But Bitcoin cannot fulfill its purpose if it is expensive and cumbersome to use. International trade is expensive and cumbersome anyway, and not by chance; It is expensive and cumbersome precisely because it is run by the banks, who are only interested in increasing their profits to the limit, and perhaps a little beyond. If the transfer of Bitcoin is more expensive and cumbersome than that offered by the competitors in the banking system, it would not make any sense. Worse, high and unpredictable fees push all payments below a certain threshold (which is 99.9% of all payments in the real world, or even more!) Towards indirect trade through brokers through commitments that require trust - a process remarkably similar to pushing gold out of using and replacing paper money. Lost all pretension to cover. Unfortunately, this is exactly what could have been expected in recent years, when the original supporters of Bitcoin, the ones who turned it from a theoretical scientific experiment into an economic system that drives billions every day,Watching with growing disbelief and frustration how gatekeepers and Bitcoin architects work day and night to change its purpose and re-establish on its basis the banking system - the exact same system that Bitcoin is designed to be.
The only bitcoin today that remains true to its original purpose is continuing the direct path of bitcoin - Bitcoin Cash. A groundbreaking and unstoppable currency, private and reliable, that has proven time and time again that it can withstand attacks of all kinds - cyber attacks, propaganda, hostile takeover attempts with and without the support of capitalists, silence, defamation, personal persecution of its supporters, lawsuits, economic pressure and more . Bitcoin Cash has withstood all this and even increased its footprint worldwide as true to its promise - collaborative electronic money for the whole world, for all of humanity, without limit.
It is time to vote no confidence in the banks. It's time to take control of our money back into our hands. It will be a quiet and non-violent revolution, one person at a time, one payment at a time, until the entire banking system slowly becomes irrelevant, all without one broken glass. Banks will not necessarily disappear; There is no reason why they should not continue to exist in one form or another and provide some financial services on a limited basis - but never again in a position of control. The banking age has come to an end.
Here's how you can contribute to the coming of the revolution, in three simple steps:
Convert some of your savings to Bitcoin Cash - every shekel that comes out of the banking system into a cooperative currency is a shekel that banks can no longer touch, control and erode. You can start with small amounts, and increase the investment as you understand the field. Here is a list of recommended wallets and a partial list of ways to get Bitcoin Cash .
Given the choice, the preference to pay in Bitcoin Cash - any direct payment from colleague to colleague weakens the grip of the banks in our lives. Any trafficking done without asking permission or explaining yourself gnaws at their necessity and forces them to reduce their intervention. At some point, when most of the actions will be collaborative, the banks will become redundant and will have to cut back and reinvent themselves in a more modest role. Here are ways to locate places that accept Bitcoin Cash .
Convince one person close to you to join you - each additional person who converts some of their savings into Bitcoin Cash increases the demand for it and thus increases the value of your own savings. Each additional person who prefers to use Bitcoin Cash doubles the amount of payments that each user can make while bypassing the banks. Finally, each additional person empowers others and contributes to the legitimacy of the idea itself. You do not have to declare your support to the public if you do not feel comfortable, just as you do not have to engage in activity and activism unless you have a desire to do so. It is enough to convince only one person, to convince in turn only one person, to convince in turn only one person and so on, so that the proponents of cooperative electronic money cons