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Banks


Regular readers know my feelings towards the banks; I understand the need to create profits to assuage investors appetite [and directors salaries] but the story the other day regarding overdraft fees is appalling and then, only yesterday Santander was fined for holding on to money owned by the accounts of deceased customers.

There is one man who heads a family worth between $400 billion and $500 trillion [depending on your research source] which owns nearly every central bank, the media and through special interests has a major input into government policy. It is not difficult to find out the name of this family and though I have no personal issues with them I do regard them as being major representatives of our centralised system.

You know the statistic; 1% of the worlds population own 90% of the worlds wealth. Some say 2% and 80% - it doesn't really matter - I mention it as further reasoning for my passion for the decentralised system that is now moving ahead at pace.

Some believe bankers use inflation to steal our money and ensure we remain tied to our work for as long as possible. The same people point out our education system offers no real preparation for work after school and encourages borrowing to tie us in. Then find well paying jobs and with it high taxation and so on. Keeping us well and truly in the system.

I read some other stats just a few days ago - the numbers reflected on the price of things today compared with 86 years ago [unsure why 86 years]

There were 4 examples of things we buy today:

Petrol, milk, eggs and first class stamps The American writer told the following story:

For $20 in 1932 and 2018 - 482 gallons of petrol v 7 gallons ; 427 gallons of milk v 6.3 gallons; 675 dozen eggs v 10 dozen eggs and lastly 2,700 first class stamps v 40 first class stamps.

We can all testify to the rising cost of things; those who retired 10 years ago on fixed pensions will no doubt point out how difficult things have become.

The day after the tax authorities announced a major push into how they intend to tax crypto assets - this inevitable following the continuing news stories of falls in value in 2018 - I just wanted to remind you of why we must all learn all we can about blockchain and the decentralised system - borne out of the last financial crash in 2008.

Is the next crash around the corner? I believe it might be and I will cover this next time. Another major financial crash could render our fiat cash almost worthless. For what other reasons are the tax authorities positioning themselves to tax our new money?

#cryptocurrency #blockchain #decentralised


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