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| Blogs > CeriosEros > The life & times of Zero Mega |
My procrastination cost me thousands of dollars
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My procrastination cost me thousands of dollars For years now I have been meaning to buy bitcoin. Back when it was worthless I heard about it and thought crypto currency was the future after I began studying economics and realized that the boom and bust cycles of the US economy was because of the federal reserve mucking with the interest rates and bitcoin seemed like a way to have a stable from of money when all the debt this country has needs to be paid. Although back then getting a bitcoin wallet was an ordeal not like today when it literally takes two minutes. So I pushed it off. Later bitcoin started to get some traction. The vaule was about 200 dollars each and bitcoin and a bitcoin ATM was put in just down the street from my work. I just thought bitcoin is volatile I'll wait until it goes down because 200 is a little pricey. Well that 200 dollar investment could be worth 65 thousand dollars right now. And I missed my shot because everyone is trying to catch this wave and get rich quick. Story of my life. |
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The sun gives us light and energy. without it life would be impossible. Unfortunately if has the ability to kill us all by billions of tons of super heated plasma.
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It's not capitalism it's interest rates. This cycle of boom and bust didn't happen in the United States on a regular basis until the federal reserve was created. It happened only twice in our history before then. It's centralized banking that's the culprit. Set interest rates low and you create a bubble and when you raise them then the bust because they artificially created a demand and when investors realize that their investment has no real buyers they try to dump it like crazy which causes a domino effect.
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Cerios... writes: "It's not capitalism it's interest rates. This cycle of boom and bust didn't happen in the United States on a regular basis until the federal reserve was created. It happened only twice in our history before then. It's centralized banking that's the culprit. Set interest rates low and you create a bubble and when you raise them then the bust because they artificially created a demand and when investors realize that their investment has no real buyers they try to dump it like crazy which causes a domino effect." I hate to burst your "bubble", but... There were continuous bubbles prior to the FED. The difference is that those bubbles (even being much more severe, generally) lasted very short periods of time. The real reason, for the FED, was to create a monetary system that allowed artificial expansion and contraction of the money supply, and consequently, the economy as a whole. Prior to the FED, money was based solely on gold and silver, Gold was so scarce the supply could not be expanded... easily. And then, too, prices could not be raised easily. If you doubt that statement, just search out the CPI (extrapolated) for the period of 1800-1913. It tracked an almost flat line for over 100 years. After the FED was created, the money supply was allowed to artificially expand (under the "benevolent?" and watchful eyes of the "powers-that-be") up to 10X the gold reserves. This was accomplished through "fractional banking"... wherein "FED bank notes" could be circulated at a rate of 10X the gold reserves that supposedly backed those notes. Prior to the FED, any bank that tried this technique ended up out of business and the owners serving a couple decades in a prison cell--or dangling from a rope, in some of the more "conservative" territories--for bank fraud. There's a bunch more technical issues I could present to you, but I don't have weeks to sit and type. One more thing: Don't beat yourself up over the "cryptos"--Bitcoin is now less than half of what it hit a week ago... and it ain't gonna come back. Remember this: crypto currencies are WORTHLESS. They have NO intrinsic value. Even a stinking FED note has "debt" backing it. Bits are backed by unrestrained greed. At least the FED "owners" have a smidgeon of control over their selfishness. They have pretty much figured out how to avoid killing off the golden goose... as it were. If you really want to understand how the "system" is actually structured, look up the FED-produced booklet called... "Modern Money Mechanics"... which they used to make available on the St. Louis FED website. Now, you have to get it from other sources on the web. It is still available. Solar...
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