"You will own nothing and you will be happy..." Do you remember this famous quote from that faget Klaus Schwab a few years ago? Well, unfortunately, it's starting to make sense.
I don’t know how well your country is doing, but mine is in deep shit. Many people running around like rats don't even grasp the severity of the situation. It just came to my attention today that Romania (my country) has spent nearly all of its emergency fund over the past couple of years.
That fund was meant for emergencies, calamities, and everything in between, but the so-called politicians decided it should be used to house Ukrainians, train Ukrainian pilots to fly F16s, and sponsor certain "mayorhouses" excessively.
Romania is bankrupt, and most of us living here are completely ignorant of what’s happening. Not all of us, though. I was amazed to learn today that an old neighbor of mine knew about the proposed EU bill to use "unused savings" of EU citizens to strengthen our military systems.
There’s no such thing as "unused savings"...
The whole point of savings is that the funds stored in cash or whatever are, in fact, unused. Otherwise, we wouldn’t call them savings, would we? Once you invest or spend the money, it’s no longer considered savings.
It’s that simple, but the so-called politicians in the European Parliament are coming up with all sorts of ridiculous legislation and "political language" that will make you laugh. Now, I can't call myself lucky for having almost all my savings in crypto, because that sentiment feels pretty shitty right now, but at least they aren’t sitting in a savings account.
Many of us (not necessarily us here on this platform) don’t understand the concept of banking. I came to this realization today after a neighbor shared his experience of trying to withdraw (in cash) the $8,000 he had in the bank for a few years.
When he went to withdraw it, the banker simply said, "all I can do is $7,600." He found that response offensive, but to me, it’s no surprise because I know how these crooks operate. Unfortunately, plebs don’t realize they don’t actually own the cash they have in the bank.
Dealing with large amounts of cash is a hassle, but getting too involved with banks is even worse. I have minimal savings, but if I were sitting on tens of thousands or hundreds of thousands, I’d rather invest in HBD and stablecoins than leave it with the bank.
"Unused savings"... Christine Lagarde really has a good sense of humor, no doubt about it. Anyway, that’s all for my daily rants. I hope everyone has a great day, and I’ll catch you all next time.
Thanks for your attention,
Adrian