To give more closure on why I think crypto is a trap. And that also goes for fiat currencies in digital format, and bank deposits.
In earlier times, like with Northern Rock, ( https://www.jstor.org/stable/27648296) banks operate with opening hours. Declare a bank holiday and many people will be fishing behind the net.
The same goes for ATM machines. In case one wished to retrieve some currency from the machine, yeah, either the machine is out of order ( remote operation) or the amounts that can be retrieved can be limited.
Or, the costs to retrieve some currency may be increased to such proportions by order of a "tax hike" to have currency controls in place and make the government ailing for debt relief some needed extra cash.
These are simple measures constituting risk that need mitigating.
However, our societies continue to digitize on and on. Enter, crypto AND a QR code, or social credit system.
The social credit system will also be related to a carbon footprint allowance tied in with a reward and punishment system.
It is in such situation quite easy to restrict access to internet, energy, transportation, banking, etc.
In our current world, the whole system exists by the grace of those in power, because with a flip of a switch a false flag is executed. Perhaps even in the shape of rolling black-outs. Yeah ... for years our systems have performed ok, but suddenly, these jokers can't handle it no more.
So, from this perspective alone, the financial system is a trap, where the trapdoor remains open for now, but can be closed in an instant. Of course the government is here to help, unless you get your vaxx cleared up.
For not those not vaxxed but deep into this system without mitigating options, you are ff-ed.
Once you recognize that this whole event of covid and the coming marburg scare is all about a control grid, it becomes quite easy to see the trap.
With crypto moving in tandem, I did not mean to say, they are moving exactly in the same direction. What I noticed is that the ups and downs in crypto correlate to the ups and downs in fiat. This way, crypto is made to serve the fiat system, and thusly, has become part of that system. When bitcoin moved passed 56.000 I noted on my weekly chart this line at 56.348,20 (feb 15-22). And what do you know in week 4-11 october? You must be able to see this too. Now consider what happenend when it moved beyond that line in relation to fiat and PM. It was chaotic, but PM was allowed to rise somewhat to take some of the pressure off. Now look at the EUR/USD chart between these dates.
That is pure unadultered plunge protection. And within these markets, somebody is going to hold the bag. And if history is any indication, it usually is not the banks and their service providers.
These service providers have a role to play too. As an example of how that works, allow me to point you to options for trade available to EU residents. Before 2018 it was possible to use binary options. It was thought to be too dangerous, so the EU changed regulations. That was the end of binary options. In it's place remained the regular option trade, but now the amount of credit became regulated, causing the amount to dive from 500 to max 30 on fiat. Ok, it still gives me the possibility to make a decent buck, but not as it used to.
All these things are hidden within MIFIDII and God knows what kind of regulation, yet, all the while these jokers allow their friends to continue to game the market.
Another way of viewing it is by investigating who is within the BASEL negotiations and the rules on IFRS.
Each of these have influence on how the game can be rigged in favor of those who are connected.
Of late, it is becoming mainstream knowledge how judges are compromised by big banks, big insurance, big tech, etc.
Bring all these lines together .....
So, navigating in this cesspool of corruption mimicking a democratic and human rights respecting system, requires a sober approach and awareness of risk. I guess for now, the main topic is: if you don't hold it in your hands, you don't own it seems the better option.
To give more closure on why I think crypto is a trap. And that also goes for fiat currencies in digital format, and bank deposits.
In earlier times, like with Northern Rock, ( https://www.jstor.org/stable/27648296) banks operate with opening hours. Declare a bank holiday and many people will be fishing behind the net.
The same goes for ATM machines. In case one wished to retrieve some currency from the machine, yeah, either the machine is out of order ( remote operation) or the amounts that can be retrieved can be limited.
The latter is exemplified with what happened in Greece, where locals were only capable of retrieving 50€. https://www.businessinsider.com/greek-atm-limit-now-only-50-not-60-on-capital-controls-2015-6
Or, the costs to retrieve some currency may be increased to such proportions by order of a "tax hike" to have currency controls in place and make the government ailing for debt relief some needed extra cash.
These are simple measures constituting risk that need mitigating.
However, our societies continue to digitize on and on. Enter, crypto AND a QR code, or social credit system.
The social credit system will also be related to a carbon footprint allowance tied in with a reward and punishment system.
It is in such situation quite easy to restrict access to internet, energy, transportation, banking, etc.
In our current world, the whole system exists by the grace of those in power, because with a flip of a switch a false flag is executed. Perhaps even in the shape of rolling black-outs. Yeah ... for years our systems have performed ok, but suddenly, these jokers can't handle it no more.
So, from this perspective alone, the financial system is a trap, where the trapdoor remains open for now, but can be closed in an instant. Of course the government is here to help, unless you get your vaxx cleared up.
For not those not vaxxed but deep into this system without mitigating options, you are ff-ed.
Once you recognize that this whole event of covid and the coming marburg scare is all about a control grid, it becomes quite easy to see the trap.
With crypto moving in tandem, I did not mean to say, they are moving exactly in the same direction. What I noticed is that the ups and downs in crypto correlate to the ups and downs in fiat. This way, crypto is made to serve the fiat system, and thusly, has become part of that system. When bitcoin moved passed 56.000 I noted on my weekly chart this line at 56.348,20 (feb 15-22). And what do you know in week 4-11 october? You must be able to see this too. Now consider what happenend when it moved beyond that line in relation to fiat and PM. It was chaotic, but PM was allowed to rise somewhat to take some of the pressure off. Now look at the EUR/USD chart between these dates.
That is pure unadultered plunge protection. And within these markets, somebody is going to hold the bag. And if history is any indication, it usually is not the banks and their service providers.
These service providers have a role to play too. As an example of how that works, allow me to point you to options for trade available to EU residents. Before 2018 it was possible to use binary options. It was thought to be too dangerous, so the EU changed regulations. That was the end of binary options. In it's place remained the regular option trade, but now the amount of credit became regulated, causing the amount to dive from 500 to max 30 on fiat. Ok, it still gives me the possibility to make a decent buck, but not as it used to.
All these things are hidden within MIFIDII and God knows what kind of regulation, yet, all the while these jokers allow their friends to continue to game the market.
Another way of viewing it is by investigating who is within the BASEL negotiations and the rules on IFRS.
Each of these have influence on how the game can be rigged in favor of those who are connected.
Of late, it is becoming mainstream knowledge how judges are compromised by big banks, big insurance, big tech, etc.
Bring all these lines together .....
So, navigating in this cesspool of corruption mimicking a democratic and human rights respecting system, requires a sober approach and awareness of risk. I guess for now, the main topic is: if you don't hold it in your hands, you don't own it seems the better option.