Jean Kilroy⭐
@Jeanie
12 November, 10:05
They all fell for it. Except Elon. 8:58AM EST
VK on Truth
.
VK on Truth
.
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You know, I'm not a financial wizard - but I always thought of all crypto like this
Fuat - paper with no value, no gold to back it, but at least there is proof of ownership of payment due, for work or goods rendered
crypto - a thing that has no physical presence - WORSE than FIAT! Controlled by 0s and 1s, that SOMEONE ELSE programs... and can disappear with the click of a button.
Fuat - paper with no value, no gold to back it, but at least there is proof of ownership of payment due, for work or goods rendered
crypto - a thing that has no physical presence - WORSE than FIAT! Controlled by 0s and 1s, that SOMEONE ELSE programs... and can disappear with the click of a button.
10:42 AM - Nov 12, 2022
In response Jean Kilroy⭐ to her Publication
Only people mentioned by Tallyho in this post can reply
Anna Earthling
@Earthling2
12 November, 10:57
In response Carole Davis-Z to her Publication
If you had friends in high inflation countries you might not believe in "physical currency" either. But I know what you mean.
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Carole Davis-Z
@Tallyho
12 November, 11:02
In response Anna Earthling to her Publication
Yes, I understand - paper money, not even worth the paper it is printed on.
Usually, that situation does not last forever, a new gov or admin steps in and revalues the currency, so the paper will have some value, if not what it was originally.
Not sure that can happen with crypto... but then, I'm not a fiscal expert at all... I just believe in paying off my debts as fast as possible - which is why I only have a mortgage now - that will be paid off in 3.5 years...
Usually, that situation does not last forever, a new gov or admin steps in and revalues the currency, so the paper will have some value, if not what it was originally.
Not sure that can happen with crypto... but then, I'm not a fiscal expert at all... I just believe in paying off my debts as fast as possible - which is why I only have a mortgage now - that will be paid off in 3.5 years...
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Katz Pajamas
@KatzPajamas
12 November, 10:46
In response Carole Davis-Z to her Publication
I agree.
Grama used to say that a bird in the hand is worth two in the bush! 🤣
Give me something tangible and in my possession!
Grama used to say that a bird in the hand is worth two in the bush! 🤣
Give me something tangible and in my possession!
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Carole Davis-Z
@Tallyho
12 November, 10:57
In response Katz Pajamas to her Publication
Yep.
I am sure there are sophisticated fiscal traders looking at my post and thinking "poor thing, does not get it".
I like to subscribe to the KISS method when looking at most things.
keep
it
simple
stupid
The banking system began when traders wanted security for their gold coins - too many robbers and highwaymen meant carrying trading money was very dangerous - and hiring body guards was expensive.
The Rothschilds said:
Give us your coin before you leave, and when you arrive at your trading destination, give this IOU note to our rep, he will give you your money, minus a small transaction fee, do your trading, and then, before you set out again, repeat, and we will provide you your coin on your return.
The start of the banking system
Genius idea really, provide fiscal security for a small fee...
Of course, if the note got lost, or stolen, guess who got to keep the money.
Rothschilds then became lenders to crowns and countries, the snowball just got bigger
I am sure there are sophisticated fiscal traders looking at my post and thinking "poor thing, does not get it".
I like to subscribe to the KISS method when looking at most things.
keep
it
simple
stupid
The banking system began when traders wanted security for their gold coins - too many robbers and highwaymen meant carrying trading money was very dangerous - and hiring body guards was expensive.
The Rothschilds said:
Give us your coin before you leave, and when you arrive at your trading destination, give this IOU note to our rep, he will give you your money, minus a small transaction fee, do your trading, and then, before you set out again, repeat, and we will provide you your coin on your return.
The start of the banking system
Genius idea really, provide fiscal security for a small fee...
Of course, if the note got lost, or stolen, guess who got to keep the money.
Rothschilds then became lenders to crowns and countries, the snowball just got bigger
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