Episode #51: Be Your Own Bank

1 year ago
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What does CoinBase, Three Arrows Capital, Voyager, and Celsius all have in common? They are all centralized companies who either have been hacked or went bankrupt for overleveraging their customers funds. Centralized companies run on Profit and Greed. Its never enough....

Now we are seeing a Bond Emergency in England and the BOE is increasing emergency stimulus to ease the turmoil in the markets. How are people in England feeling about their pensions and the security of their wealth? What are solutions for a world wide recession? What happens if Pensions fail? How over leveraged are our markets and how overcollateralized are the markets? A common practice in trading is called Derivatives which are usually leveraged instruments, which increases their potential risks and rewards. Derivatives are often estimated at over $1 quadrillion dollars and if this market would de-leverage on a large scale the results would be damaging to the economy. I'm sure since the problem was created by the Governments and banking system once an even happens and the people react the same governments will come in with their solution. Classic Problem-Reaction-Solution scenario.

https://www.investopedia.com/ask/answers/052715/how-big-derivatives-market.asp

We also have PayPal trying to push a $2500 dollar fine to folks for misinformation. Freezing someone's funds to control a persons actions reminds me of a social credit score. Now the people rose and made their voices heard and PayPal came out and said it never should have been published, it was an error. Its a good reminder that people are coming together and stopping the tyranny that PayPal is. I suggest you close your account ASAP to show that PayPal cannot Control YOU.

https://www.reuters.com/business/finance/paypal-says-it-never-intended-fine-users-misinformation-bloomberg-news-2022-10-10/

With all this said I encourage everyone to BE YOUR OWN BANK. Its time to take control of the money you hold so no third party like a bank or exchange could step in and freeze or bail themselves out with your cash.

Last week I touched base on Black Rock reimagining the World Bank and the IMF. We also have Janet Yellen The current Treasurer of the USA spoke the Center of Global Development also feels we should reimagine the World Bank to evolve the financial system for the 21st Century.

Such a good reminder to be prepared so if a large scale event does happen we will rest well knowing that some of our wealth is offline :)

Some Coins to keep eyes on:
XRP! Lawsuit update
Matic-Added to Grayscales Large Cap Fund
https://grayscale.com/

We are heading into a digital renaissance - revolutionizing international finance. Its a process be patient and HODL ON.....
XDC- Building out Fathom-Sustainable Liquidity Protocol
https://fathom.fi/

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XRP can be acquired through Uphold, Atomic Wallet or the likes of a Safepal Wallet using the Swap Function in US markets or via the Safepal Trading dApp for clients with a Binance.com (NOT Binance.US) verified account.

Our favorite Hardware Wallets: Ledger https://www.ledger.com/

Safepal https://www.safepal.io/

MetaMask - Keystone Wallet: https://keyst.one/

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This content is being offered for your consideration only. Lean into the information shared here, and take what resonates. We each have our own way and we are not financial advisors.

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