(Listen to audio version of me reading👆)
Definition of promise
Most think they own their assets.
Counter-party risk is the biggest term people need to know in a day and age when we are getting closer to the end of the monetary system and nearing a reset.
Timeline of monetary systems:
Do you have your stocks, in your house?
Do you have the insurance in your custody?
Do you pay the property tax on your home, rental properties, and apartments?
Do you follow all the red tape and regulations for your business?
Do you pay your withholding tax if you have a job?
Do you have your arms in your possession?
Do you have your gold and silver outside of safety deposit boxes?
Do you have your bitcoin off of exchanges?
Do you think there is a chance that any of these assets that involve counter-party risk could be taken from you?
Could the companies that hold your assets or hold your “promise” go bankrupt? Be taken over by the government? Get in bed with government? Be coerced or forced to do something against their will by government?
I bet you most Canadians didn’t believe their government would have done much to them if you asked them at their 2022 New Year’s party.
How did that turn out?
Too big too fail
What happens when insurance companies or normal companies go bankrupt?
Or pensions or 401k and social security crash and go bankrupt?
Bail-ins (like happened in Cyprus already and put in to law as options here in the US) are the governments/banks taking your assets, literally.
Scooping their hands in to your bank account and skimming their accounts of their actually money.
Bail outs are governments stealing your time and energy now your wealth by printing currency to bail out insolvent companies to pay off their liabilities (promises) to the people.
Don’t worry, you will “get what you are owed” but life all around you will be 100x more inflationary.
The currency printer will go BRRRRRRR and destroy everyone to pay off the entitlement promises.
We lose both ways.
So how do you defend from all of these attack vectors?
Diamonds?
Gold?
Silver?
Oil?
Gas?
Uranium?
Timber?
Things that you could all potentially own that have no counter-party risk.
Problem is you can’t send any of those assets around the world and many of them it would be hard to actually hold it yourself.
This is why fiat IOUs were born because it was easy to digitally transfer all over the world.
And here is the long term consequences of fiat IOUs…
Bitcoin is the ONLY bearer instrument I have found that takes power from the unproductive class and puts it all back in the people’s hands.
The only one that is decentralized and out of the hands of every bad actor and there is nothing they can do about it.
I have been looking for years and it is the one thing that was discovered with the literal intention of giving power back to the people.
Have you studied it and put in the time to understand this first-time in human history event?
I believe all of our children will ask us what it was like to be around when bitcoin was discovered.
What was it like when humans discovered the answer humans have been trying to solve for thousands of years; “the byzantine generals problem.”
Rules without rulers.
Stay strong,
Brandon
Ps. Much more about this coming this week.
Not financial advice. My journey and what I have studied and experienced.