Gold or Bitcoin? – certainly not banks though

As the debate rages over which safe haven is better – gold or bitcoin, banks continue to try and remain viable in a digital age that has all but left them behind, and leaves them facing obsolescence.

A system for the wealthy

In the world we currently live in, millions of people are being dragged into poverty by a system that only serves the banks and the powerful people that pull the strings behind them – all aided by governments that do their bidding.

When banks are given carte blanche to print whatever amount of currency they see fit, and this power has been granted them by government so that they have total legal right to do so, things are not going to end well.

The Federal Reserve creature

G. Edward Griffin wrote his incredible book “The Creature from Jekyll Island” back in 1994. The book tells the story of how the US Federal Reserve bank came into being, and how it has stripped the wealth from the middle and lower classes and has handed it to the rich.

Since the Federal Reserve was granted this right to print money, the US dollar has debased in purchasing power at an unholy rate. A check was kept on it for a time by adhering to the gold standard, but once the dollar was taken off this by President Nixon in 1971, the debasement has accelerated. 

Fiat currency debasement

We have now entered the time when all central banks across the world are printing far more currency than countries can earn through trade and taxes, and this is only getting worse.

If you are sitting on a pile of cash in the bank, you are losing anywhere from 5% to 10% a year in debasement and through inflation. For poor people who live paycheck to paycheck, this is something they cannot avoid, and so they take the major brunt of this attack on their money.

Wealthy people have assets, and these only go up as more currency is printed. Therefore they are able to get richer as the poorer majority transfer what they have over to them.

How do you protect yourself?

So how do the people protect themselves? For many, they only have what they need from day to day, so buying assets is difficult. Gold might be an option, but who has the money to buy an ounce of gold? Also, if buying smaller amounts of gold than an ounce, the premium rises dramatically the smaller the quantity.

With bitcoin however, a satoshi is the smallest amount you can buy, and this is worth a fraction of a cent, so anybody can buy some. 

Those in favour of gold usually point to the fact that bitcoin is not a ‘tangible’ asset, as in you can’t touch it because it is digital. But this is actually a strength for bitcoin since it weighs nothing. Try leaving your country with a few ounces of gold.

Gold got to its place as the world’s premier store of value because it was rare, as well as beautiful, but bitcoin, even though you can’t see it, is much rarer than gold. There is only a supply of 21 million bitcoins, and already 19.5 million have been mined into existence.

There are other advantages that bitcoin has over gold, but honestly speaking, those in favour of either gold or bitcoin should not be arguing with each other over which is best. The fact is that they are both hedges against the dreadful onslaught of fiat currency debasement.

The end-game is here

Governments, at the behest of the banks, are currently working hard to bring in Central Bank Digital Currencies (CBDCs), and these will allow them to prevent citizens from buying bitcoin or gold. Not only this, they will lock citizens inside the burning building of debasement so that they are unable to protect themselves.

For those reading this article with scepticism, this is the right way to approach it. What anybody writes can be to further their agendas etc., so the main thing is to fact-check what is said and by doing so, to educate yourself on what is going on, and how current governments, at the behest of the banks, are seeking to enslave their populations. Do this before it is too late.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Credit: Source link