The short answer? More than likely that’s a Boldbig ole’ NOPE
Why? You might be asking. I say might because it seems most if not all of us know why they’ll be distant relics of the past in a decade or few.
As the title implies, this is one of a few posts I’ll be making on the argument as to why the global consortium of money laundering buildings known as the monetary system has had its’ Achilles heel so to speak.
When I was a kiddo, no older than 13 or 14- my mom took my brother and I to this big fancy building the week after Christmas. She said we were gonna put the money Santa left us in a special account with the bank, and when we both turned 18 it would be worth “a whole lot more” and we could use it.
(She’s not the brightest, actually ended up stealing a college bond my grandma left for me another Christmas and cashed it out then claimed it never existed for those of you who’ve been following my posts about my unfortunate position)
anyway!
Savings accounts. We’ve all heard of them. We all know someone who has one. And as someone who’s studied banking and knows how the monetary system works - it breaks my heart every time I see someone who does genuinely hard labor and that capital goes into a savings account.
For starters, The average inflation rate annually since 1956 has been 3.56%
Talk about “money printer go BRRRRRRR”.
In case you’re having trouble putting two and two together, you’re better off taking that money and doing literally anything else with it. I’ve noticed the boomers are scared of investing yet have no problem gambling - either way - you’re losing money at the end of the day.
okay… did you have a solution or are you just reminding me I’ll be poor forever?
Fear not, my friends. As the cryptosphere has grown and the geniuses who perpetuate its’ growth- we’re blessed with products…that…don’t… really have a name yet. But here we are!-
If you’re just looking to store some basic coins (and honestly speaking don’t want to bother with UI/UX problems that come with the next service I’ll be mentioning, I’d use Abra. Also I’d REALLY use my ref link since we BOTH. Yes that’s right, not just me, we both get $25. And as I’m typing this up I’m just now seeing they have that deposit via debit card option.
(1) So all you’ve gotta do is click that link, transfer over some test money (I’d start with $25-30)
(2) head on over and hit that trade button on the bottom left corner
(3) trade those USD for any of these bad boys (see picture below) and you’re good to go!
The reason I believe this type of service will kill savings accounts is aside from there being no dumb penalties for withdrawing early, you can either lend your bank your money for a measly 0.50% APR (if you’re lucky). OR take control of your money and not only have the fear of Inflation off your shoulders but you can withdraw whenever ya like without any penalities!
There are new services coming out every day too. Nexo & Celsius.com I’ve found aren’t too kind to US clients like myself, so For the time being if you want to save yourself the headache and do the whole ‘set it and forget it’ - make sure you download the Abra App and use my code!!! Also if you want to be 100% it may ask for a ref wallet ID, mine is QV85P6G
Seriously folks it’s a free $25 for both of us. Or sign up and get $0, whatever floats your boat my friend.
Until next time my loves…
😘❤️♥️💕 @MrDowJones
Also if you check out my OpenSea Account 25% of it goes to a mental health charity, 25% goes to my book publishing fund, and 50% goes to helping me get back on my feet (see previous posts) as I’m currently recovering from homelessness and opiate detox which is partly what the book will be on.
Or if you’d rather not deal with NFT’s and just want to be a helping hand (I can genuinely show you my rehab bill some unsettling stuff if proof is needed that I’ve come a long way hence wanting to write a book to help ensure anyone just anyone avoid what I went through and am recovering from.
To prevent a book of its own with names of good samaritans the minimum requested donation amount to get your name on my ‘Good Samaritan/ pass it forward / this was made possible thanks to-‘ is $25. I’ll provide the addresses below.
If you wish to remain anonymous, feel free to. Otherwise after blockchain confirmation, please send a copy of that TXN # to NicholasHaute@gmail.com with your name and a small message if you’d like. Such as ‘in loving memory of ________’ Etc.
BTC: bc1q2ssl7x5wm3jak6prnw6nwjd6k42wprsavlptpj
ETH: 0x7E855617472a683837F5e130ddd8932e13405688
LTC: ltc1q6cy55n38fwwmm0utsf7lsh672twc0yyyp3tytr
POLYGON (not matic, shouldn’t be ERC or B/BEP20,etc)
0x7E855617472a683837F5e130ddd8932e13405688
ZCASH: t1NBJ3qBLvMSc8V2RVXuEHqXWCseFt8G3Md