• #134 You'll Need To Rob The Bank If You Want Your Money

  • Aug 15 2022
  • Duración: 9 m
  • Podcast

#134 You'll Need To Rob The Bank If You Want Your Money

Escúchala gratis

Ver detalles del espectáculo

  • Resumen

  • Good Morning Everyone,There was an incident last week in Lebanon that is worthy of further enquiry. I’ve spoken about it with many people offline, but hadn’t written about it at all and feel it’s important to do so. It’s important first of all to retrace our steps a little before we do, so we can maintain the thread through time, and obtain a clear recognition of the order of events leading to this most recent situation. Eight months ago i first wrote about the situation in Lebanon where the local political money was failing. Basic food and energy costs were skyrocketing due to the rapid loss in value of the Lebanese Pound. Some four months later, the situation in Lebanon again hit my radar having descended further in chaos with the Government & Central Bank capitulating and waving the white flag. The Government & Central bank announced they were bankrupt.Both these letters are worth quickly revisiting if you missed them to get a strong sense of the how the dynamic has evolved over time. Both are linked below.This sequence of events has lead to the most recent development, where a man has been pushed to absolute breaking point. The man tried to withdraw his money from the bank in downtown Beirut and that request was denied. The man is said to have had $210,000 held with the bank, and had requested to withdraw $50,000 to cover medical expenses for his fathers surgery. After being denied to withdraw his “own money”, the man took control of the bank with a firearm taking the bank staff hostage in the process. This hostage situation lasted 7hours and was eventually resolved with him being said to be given $30,000 and he exited with no further escalation or injury. Outside the bank the man was being celebrated as a hero for his actions, and offers a glimpse into the level of distain that exists amongst the citizens of Lebanon and the deeply unstable dynamic currently in the country. The thread below by Joyce Karam covered the situation with many updates if you would like more details.This unfortunate situation highlights how fundamentally toxic fiat really is. He literally had to rob the bank to get his own money!This man doesn’t want to have to rob a bank. He simply wants what is his. He had a significant amount of funds, and like most, doesn’t realise the true IOU nature of banking. His father is unwell and he simply wants to support his family. The fact that he could be pushed in such a way where he would be willing to hold people hostage at gun point serves to highlight how pathologically insane this fiat system really is. This is the level to which fiat is corrupting us and the societies in which we are a part. This system is so morally and ethically derelict at its core. It is programmed into the fiat system at the base layer. Where bitcoin operates based on the most profound truth, fiat operates on falsehoods and lies. It is a system that is predicated on deception. That anyone would consciously choose a system that harms us so deeply is absolutely unfathomable. This man should never have been forced into this situation, nor should any of the beautiful people of Lebanon or any other nation that have fallen victim to fiat. And we haven’t even considered the implications such actions could have on ones family and the higher order effects which could follow.So many people still cannot see the problem, and thus they cannot see how bitcoin fixes this, but this is going to change. This disease and the symptoms we exhibit as a part of it are not exclusive to Lebanon. Lebanon is just further down the road compared to some others. This is a kind of de-civilization and these symptoms can be expressed in every country that is on a fiat standard. Every country that uses a money with no anchor to physical reality where it empowers a small few to control this technology are over time destined for a similar fate. But where fiat fails, Bitcoin will succeed. If this man understood the predatory nature of banking. If he knew about fractional reserve banking and understood that once you hand over control of your money, once you relinquish custody, that it fundamentally ceases to be yours - he most likely would never have given it the bank in the first place. There would have been no need for him to be pushed to the extent he was, and take the level of risk he was forced to take for him and his family. There would have been no violence toward others, and no one would have ever been taken hostage. But when the system of banking works on the surface, it appears to work. It is not obvious that once the broader dynamic changes and we enter adversarial conditions these IOU’s are unlikely to be redeemable. That they become worthless. If you find it valuable, Share itThe people of Lebanon are learning this lesson right now, with 80% of the population now living in poverty. At the core of this is a deeply flawed system of incentives. A system we have called money. But this system is doing more harm than it ...
    Más Menos
Más Menos
adbl_web_global_use_to_activate_webcro805_stickypopup

Lo que los oyentes dicen sobre #134 You'll Need To Rob The Bank If You Want Your Money

Calificaciones medias de los clientes

Reseñas - Selecciona las pestañas a continuación para cambiar el origen de las reseñas.

Reseñas de Audible.com

Opiniones de Amazon
No hay comentarios disponibles