saifedean (npub1gdu…6nak)
You are not late. It’s still early.
If you are on a sinking ship, and there’s a life raft 50 meters away, you don’t lament the fact that you should have escaped sooner and already been on that life raft. You do everything you can to swim to get there. Everything you can.
The sinking ship in this analogy is all fiat currencies. Every. Single. One. Including the U.S. dollar.
Fiat money, which is money issued by governments, and not backed by any scarce commodity is an error code in the history of humanity. It’s only been around for 100 years, and the results speak for themselves.
Over 350% global Debt to GDP ratio, 50+ hyperinflation events, and 100+ countries going through double-digit inflation. Inflation through money debasement is a crime against humanity, it robs people of their savings, and their most scarce asset, their time! When a currency fails, it’s not just a financial crisis, it’s a social and humanitarian crisis as well.
Even the world reserve currency, the base layer of global commerce, is in a debt death spiral, accelerating by a trillion dollars every quarter! The U.S. has over $34 trillion in government debt, & over $200 trillion in unfunded liabilities! With only $20 trillion in M2 money supply, they will eventually print all the deficit. When all this printing accelerates, the purchasing power of the world reserve currency will collapse. Math. The alternative is to default, which is an extremely unlikely/impossible outcome.
Fiat currencies are melting ice cubes. All of them.
Buy #bitcoin now. Get as much of it as you can, because there will only be 21 million of them. That’s what BlackRock is doing, they are buying at an average pace of 12k bitcoin PER DAY.
The MENA region has a massive opportunity to capitalize on this shift away from fiat currencies. Oil exporting nations can park some of their reserves in Bitcoin instead of U.S. treasuries that are yielding negative real returns. Non-oil exporting countries like Jordan can accumulate bitcoin to escape the debt shackles of the IMF/World Bank and all the associated “structural adjustments” that have proven to be catastrophic for local economies in every instance.
My sincere hope is that everyone I love buys as much Bitcoin as they can.
Escape the melting ice cube of fiat currencies. Don’t be the victim and take a sword to a gunfight.
