Money, Equality and Bitcoin
How investing in cryptocurrencies can build a better Wales for everyone!
By Rhys King, Founder of Out Of This World Investments transferred from people who have savings to the owners of the newly created money (banks) and those that hold hard money/hard assets like houses (the rich).
Why is it so hard to get ahead financially? We hear about inflation, the rich getting richer and the poor getting poorer, but what does this mean for us as a society? Today there is a lot of confusion about money, lending, borrowing and worth. Coupled with the new ‘Cryptocurrencies’ the financial market can be a quagmire for everyday people. However, there is a future and it is bright, it just has to be managed, explained and marketed better. The inequality gap in the UK today worsens as governments and banks increase the amount of money in a society. They do this by creating loans for themselves and for us. Banks and governments have a license to create money. In fact, did you know when you take out a loan or a mortgage almost all the money is created out of thin air?
So how do the rich get richer? When new money is created the value of each pound is less. Essentially, it buys you less stuff. This also means that house prices, the stock market and the price of other assets go up because people want more money for them. Who owns most of those assets? The rich. The poorer people on the other hand, with fewer assets or no assets must pay more for their food, rent and energy, which then means that houses also become even further out of reach. The financial system needs to be disrupted again, it needs to be shaken, so that inequality is eradicated and that people can have stability and opportunities in their lives. The answer lies in the growing number of cryptocurrencies and Bitcoin in particular. It cannot be inflated or corrupted and the rules (monetary policy) are coded in and transparent for all to see. It’s gold 2.0 and in this digital world, we need a digital asset to start building a new fairer financial system for everyone. Equality has been an issue with financial currency for a while now, but Bitcoin is the solution and we must invest to take Wales and the rest of Britain forward.
https://ootwi.com email: rhys@ootwi.com
However, I believe that everyone should have better access to financial education and at least one asset that protects their purchasing power over time. With cryptocurrencies disrupting the normal when it comes to finances, it’s clear that everyone can be on a level playing field. But for now let’s go back to the beginning. Decades ago money was backed by gold. Gold was great because it’s hard to mine and impossible to make. However all this changed in 1971 when gold no longer backed money, since then our financial system has been slowly deteriorating. Money is supposed to hold its value, enable us to have a better future and enjoy our time in later life. It should buy at least the same in the future as it buys us today, but we all know it doesn’t. When new money is created it devalues the currency which in turn hurts the people who save their money. For example, you get far fewer groceries for £100 than you did back in the 70’s and you’ll get even less for it in 2030 and beyond. Essentially what happens is value gets
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