Let's see whether financial elites are good or not for the economy. By financial elites I mean billionaires. Well of course everyone would say no, the top 0.1% is evil, they are corrupt, and such....
Well let's analyze it from a different point of view. Suppose they don't have a choice? I mean it's not that they are evil, but they don't have a choice.
Let me explain this
Well the current financial system is based on inflation, which means that wealth is redistributed to the Government, where it is usually wasted.
If you have 1 billion dollar, you must invest your money or you lose it slowly. And they don't want to lose it, especially not to wasteful spending. I don't think there is anything more irritating to a rich person than to see somebody spend recklessly.
And even if there is no inflation, markets still move up and down, so you can't leave all your wealth in 1 asset, you have to move it around eventually. There is no safe haven in finance, you have to be adaptive or lose your money.
Okay so rich people are moving their money around, and investing in certain things. But where do the billionaires invest?
Government Bonds
This is the problem. Because if you have 1 billion $ or more, you have to keep a large chunk of your wealth in very low risk assets, because other market's don't generate that much wealth.
So they all put their money in Government Bonds. Generating like 1-2% yearly, which is good if you have like 1 billion $, that is a 10,000,000 revenue yearly, and they also get the money before the inflation, I mean the Government Debt itself is the inflation, so it's basically inflation free money.
So even if they don't make money at least they don't lose their wealth, and they grow their wealth from other, lower markets, that have better ROI like stocks or commodities and such....
Now this is the problem, because rich people are buying Bonds, which guarantees future taxation.
They buy the Bond from the Government ,and the Government pays them back 5-10-20-30 years later with interest? But where will the money get the money to pay them?
Well from taxes of course and from future Bond issuings....
Yes it's a PONZI SCHEME
The Government Debt , issued through Bonds is a Ponzi Scheme. It literally guarantees future taxation of the citizenry, like the income tax and such....
But they also issue more and more bonds, lately they issue only short term bonds, since nobody is stupid enough to loan the Government money for 30 years, they know they won't be able to repay it.
I mean just check the debt level here:
It's a Ponzi Scheme, that is about to go bust. I mean in 5-10 years we are in for a reset. The US debt with 20 trillion and the EU debt with 9 trillion is unsustainable.... and it's going exponential.....
Taxes are through the roof, there is no way to pay for this. The Scam is about to come to a close.
Cryptocurrencies
The rich people know it's a scam, but they just want to protect their wealth. But they are not stupid, they know the system is about to go bust, so they are already moving their assets into safe havens:
- Gold
- Silver
- Cryptocurrencies
Yes you already see big banks and billionaires investing in BTC and ETH. They are desperate, they just want to protect their money that's all, they are not evil.
But if they invest in Cryptos which is already very very innovative, they will start helping humanity now. They will work for us now, in our benefit.
Because if they buy bonds, that only finances the Government, and their endless wars and militarization of police and things like that.
It's time to invest in the future for a free and prosperous world, and any investor who joins us, rich or poor, is welcome here!
Sources:
https://pixabay.com
There are....less beneficial and more destructive means to make money. Not all financial elites are evil, of course, but they do act for profit opposed to benefiting the human condition.
Big Pharma overpricing medicines and frowning upon natural remedies (or creating false "studies" that deter people from trying); there are no profits if people knew they could grow there own medicine in their backyard.
energy producers (oil mainly) keeping free energy capabilities (zero point generators, Keshe foundation systems) from the people. There is no profit in an cheap, renewable energy source.
Ignorance is the most profitable resource known to man.
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Yes Big Pharma can be directly traced back to the Nazis:
I don't think there is "free energy", it sounds like sci-fi to me. But definitely green energy sources are not promoted.
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Sometimes science fiction turns into science fact. We need the catalyst of ideas to create innovation. And, considering quantum physics' understanding of energy permeating reality, there is a possibility of taping into that source.
We always seem to be held back by what what we believe as possible.
The Keshe Foundation has some interesting information from there experiments. Some of which one could do themselves in there home. Nano-coated copper (which you can do yourself), zinc, aluminum and salt water. Reminiscent of the Egyptian battery of old.
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We need innovation and ideas and people should be rewarded for them. That said, i think we can lay the myth of trickle down economics to rest.
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There is trickledown, just not in the way people expect. If people are looking for a "job" then they will be disappointed. Most jobs go to 3rd worlds where wages are low.
But if they want to be independent contractors or customers, then the opportunities are endless.
If I understand the Steemit TOS correctly, we are independent contractors here:
Yes it's still many people's daily "job" , as mine basically. @sweetsssj is making 2000$/day here, and things like that. Yet Steemit is it's own corporation and the owners are holding hundreds millions of dollars as it seems.
So wealth does trickle down this way.
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Financial elites is a very poor moniker.
You have people like Steve Jobs who, although very rich when he died, created an industry that gave lots of people jobs and made a lot of others rich too.
Then you have the people behind the FED who gets paid for loaning out nothing. They give nothing, but they get honest hard labor in return.
Then you have Warren Buffet types who have destroyed lots of real wealth for immediate profit.
Then you have Cheney with a multi-trillion dollar company that is only in business to suck up fat govern-cement contracts. Which they charge through the nose for.
Steve Jobs was good for the economy.
All these others have only made things worse.
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Who needs jobs when you've got crypto ?
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Well the bond market is up for a big collapse, which means a lot of wealth will be liberated, if they choose to join Cryptocurrencies, which is going up either way, then they will keep their wealth.
If they don't then people will just bypass the current system with cryptocurrencies. So it's in their best intetest to invest here. They are already doing it, elites are already investing in ETH and BTC, so they are smart.
Well this means that innovation will be financed now and a better world will come.
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financial elite through real production of wealth or financial elite through power-politics and simple corruption and state incrustation? that's the question.
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Indeed, initiation of force is the problem, anarchy is the solution.
But eithee way a wealth reshuffling is coming, if they want to keep their money they better invest it in innovative systems in the cryptocurrencies, not in the military-industrial system which only produces death.
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Every time I see the US debt clock it deeply fascinates me. The amounts of money owed and created out of thin air is just astonishing.
Luckily its a question of when and not if this system implodes under its own weight. How many more wars can the U.S. plunge into just to protect the petro-dollar?
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It's not created out of thin air, it's stolen from every person holding USD. Then it's probably spent on war.
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Very interesting read, thanks.
what books would you recommend, to become more confident with these facts?
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All books of Ludwig von Mises and Murray Rothbard would be a great start, they explain very clearly and precisely why Capitalism is the best system there is, and what we have now is not exactly pure Capitalism.
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I started to read with this:
https://www.amazon.de/Österreichische-Schule-Nationalökonomie-wissen-müssen/dp/3959720084/ref=la_B005E5LAFU_1_3?s=books&ie=UTF8&qid=1498938416&sr=1-3
For completing: Can you fairly name some respected books which take the position, that Austrian Economics is "bullshit"?
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Just recently I saw a snapshot of a treasury bond that is due some 150 years from now. ??? And connecting the dots .... your information...info from documentary The 1% ... and the snapshot tells me that the issuers' intention is that USA will still exist 150 years from now and the superrich have insured their wealth into their 5th generation from now (that's from the annual investor broker meeting from the documentary The 1% = free to watch on the web). Some hedge funds are already investing in crypto, and Goldman Sachs, too.
They won't let anyone take their God given right to govern the money (whatever its form). Yes, it goes right back to some scriptures = the exact wording translated back to English is: "You will have the mastery over money".
Correct me if I'm wrong.
Well, at least it gives me the impression that they won't blow the planet up yet (...still some 150 years to go, hugh).
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Hahaha those people are pretty stupid then, it's not up to them to decide what will exist in 150 years and what will not. I also think that the USA will exist in 150 years but not in it's current form. NATO and all of that, the imperialistic military bases around the world will probably be closed down. Which means a lot of the overseas revenues will drop, essentially wiping out the petro-dollar. Besides oil might not even be a commodity 100 years from now with all the new energy technologies.
So buying a 150 year bond is like a free gift to the government. Of course they can still sell it to even more gullible people if they want to liquidate it but, I am afraid it's more likely to be dumped into pension funds. That can easily go away.....
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You know Hitler also made plans in 1945 inside his bunker, for 100 years to come. Too bad reality slapped him in the face later.
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I don't relay solely on official history - the information presented is way to skewed. There is no excuse for what Hitler did, but one website presented the evidences how at least Polish, French and English governments contributed to the outbreak of WW II. They were just as guilty.
We all participate in the world's affairs in one way or another and the outcome is not what we intended from teh beginning on.
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Upvote for the reply commenting on silly posts with limited content that generate $2K per day.
Sarcasm noted
This market on Steemit is not working well just yet. Presumably it will improve with time
STEEM On !!
Dave
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