So it's finally happening...
We've been talking about this moment in history for damn near 5 years (maybe longer for some of you). After the 2008 crisis was "fixed" everyone knew that the next one was going to be so so much worse. We are on the cusp of that moment right now, and yet the world still hangs in disbelief that it will actually happen. Believe it.
You know what the biggest difference was between the actual Titanic sinking and the current state of the legacy economy? The captain of the Titanic knew for a mathematical fact that the ship was going to sink within a couple of hours. Professional economists? Not so much.
The people in charge of our legacy system...
Yeah... they think the ship can be saved. All they need to do is order all the passengers to pick up a bucket and keep bailing out the water back into the ocean. Yeah... yep... totally... that's going to solve it.
This is totally going to work I can feel it!
This happens every time the banking sector collapses; usually within developing nations. The corrupt government cuts off all escape from the system and forces the general population to bailout their mistakes. No one goes to jail; no one is held accountable. These things happen.
Just look at Nigeria.
If you want to convert Naira to USD the premium required to do so is insane. I'm having trouble finding the exact number right now but it's got to be at least a 30% tax. That's 30% of your value you lose instantly if you convert Naira to USD as a Nigerian citizen. This is absolutely unacceptable, and this corruption is allowed to continue unabated.
The same thing is done in India as well.
Notice a pattern here? Countries that have notoriously corrupted and failed banking practices tend to HATE crypto and do everything in their power to stop their citizens from using it. This is why I chuckle when people say it will be banned in USA. Not only would that be political suicide but also we already have the blueprint from China, India, Nigeria, and more: crypto can not be banned and if you ban it it becomes even more valuable and desirable.
This Andreas Antonopoulos video is timeless.
Yeah sure he's a huge dork and the analogy might be a little cringe at times, but honestly it all adds up in the end. This video was streamed 2 years ago and it's truer now than it was back then. The fiat cruisers are tilting at 10% and the captain is telling everyone we're all good. Just keep bailing out and everything will be fine.
The real reason I wrote this post was this tweet.
My spider senses were really tingling with this one. We all know Europe is on the brink of complete systemic collapse, and they know it as well. They are looking to cut off the population from all the exits while the economy burns to the ground. Don't worry Europeans, your sacrifice will be honored by the ones who exploit it.
What happens when you ban drugs anyway?
Black markets happen. Drugs that would otherwise be sold for pennies on the dollar are suddenly jacked up to prices that people are willing to kill over. On top of this the threat of having our freedom taken away by the long dick of the law makes the population even more desperate and willing to kill or otherwise break the rules over their chosen line of work.
Lower supply: higher price
So many people in crypto seem to think if it gets banned everyone in crypto is going to exit and tank the price... it's actually the opposite. Just like with drugs. Cut off the supplier and people who want to enter the system need to pay a massive premium to get in. That's the cost of doing business. Higher risk higher reward.
Because drugs have zero utility other than coping with how fucked up the world is... this HEAVILY implies that the crypto black market would be a thousand times more insane than anything the drug mafia has to offer. Imagine unfiltered AI. Imagine communities building bombs from soap and 3D printing fully automatic weapons. Imagine encrypted communications and surveillance against the surveillance state. I really can't express how easily it is for this situation to escalate to absolutely absurd levels. Poke the bear and see what happens. Crypto is a teddy-bear today. Keep poking it and it will evolve into a grizzly.
Most people don't believe something like this can happen. Yeah, talk to me again after you've survived food-shortage riots, 15 minute cities, martial law, and the complete systemic failure of the banking system. Everyone likes to repeat things like, "you will own nothing and you will be happy," without having a clue as to what it would take to get to that moment. Take a beat to think about it. Think about how much fucked up shit has to happen from now until 2030 for you to "own nothing and be happy", then realize the things that I'm saying have a non-zero chance of happening.
Conclusion
I don't want to be an alarmist or anything... but truly time is speeding up and shit is getting real quite fast. Crypto has always been designed to be a lifeboat and a hedge against the exact moment that is happening right now... but I fear that governments all around the world are going to scare you out of your own lifeboat at the absolute worst possible moment. Don't let the psychic vampire get into your head. Sometimes being a deer in headlights is the correct answer for survival. That's why the deer freeze in the first place. Don't be the one that runs and lets a pack of wolves give chase. Piss or get off the pot.