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0/ Why I invested in #Bitcoin 
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A story of 6 lessons I learned in my childhood and beyond.
Time for threadhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
A story of 6 lessons I learned in my childhood and beyond.
Time for thread
1/ *Governments fail*
1988: I& #39;m born in the Soviet Union.
1989: Ronald Reagan campaigns for missile reduction in the USSR and a peaceful conclusion to the Cold War.
1991: USSR is voted out of existence. Gorbachev is forced out of office, hands over nuclear codes to Yeltsin.
1988: I& #39;m born in the Soviet Union.
1989: Ronald Reagan campaigns for missile reduction in the USSR and a peaceful conclusion to the Cold War.
1991: USSR is voted out of existence. Gorbachev is forced out of office, hands over nuclear codes to Yeltsin.
2/ *Property rights lead to wealth*
1992: Capitalism brings new opportunities. I try my first Big Mac and Coke, its glorious!
We get a deed to our home! In communism, all housing was owned by the state. We sell our home and buy a few apartments to generate rental income.
1992: Capitalism brings new opportunities. I try my first Big Mac and Coke, its glorious!
We get a deed to our home! In communism, all housing was owned by the state. We sell our home and buy a few apartments to generate rental income.
3/ *Currencies backed by governments… also fail.*
1995: Production in Russia decreases, while money supply increases. Inflation reaches 5000% per year.
"Central bank divides Ruble by 1000. Instead of 5000, you now have 5," Mom explains while giving my lunch money. I& #39;m 7.
1995: Production in Russia decreases, while money supply increases. Inflation reaches 5000% per year.
"Central bank divides Ruble by 1000. Instead of 5000, you now have 5," Mom explains while giving my lunch money. I& #39;m 7.
4/ *Banks Fail*
1997: We decide to immigrate to Canada and sell most of our property. My parents convert funds to USD just in case and deposit into a bank for “safe-keeping."
1998: Russia is hit by an economic crisis. Run on the banks makes our $ “unavailable at this time.”
1997: We decide to immigrate to Canada and sell most of our property. My parents convert funds to USD just in case and deposit into a bank for “safe-keeping."
1998: Russia is hit by an economic crisis. Run on the banks makes our $ “unavailable at this time.”
5/ *American banks fail too*
2008: Worst financial corruption in history exposed - a CDS market worth $2T. Credit rating agencies are in on it. Bear Sterns and Lehman shut their doors. The rest get gov. bailout.
2012: I join a swap desk... to figure out how this was possible.
2008: Worst financial corruption in history exposed - a CDS market worth $2T. Credit rating agencies are in on it. Bear Sterns and Lehman shut their doors. The rest get gov. bailout.
2012: I join a swap desk... to figure out how this was possible.
6/ *Central bankers are still… figuring it out*
2020: Fed issues $3.7 trillion in stimulus, 5x of the previous financial crisis and 14.3% of GDP. Powell admits this is not an exact science and promises to try harder FOR inflationhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🤔" title="Denkendes Gesicht" aria-label="Emoji: Denkendes Gesicht">
2020: Fed issues $3.7 trillion in stimulus, 5x of the previous financial crisis and 14.3% of GDP. Powell admits this is not an exact science and promises to try harder FOR inflation
The biggest takeaway is - retain control over your wealth, no matter what government or bankers around you are doing. There are only 3 ways to do this.
1. Own real estate
2. Own gold
3. Own #Bitcoinhttps://abs.twimg.com/hashflags... draggable="false" alt="">
Trust yourself.
1. Own real estate
2. Own gold
3. Own #Bitcoin
Trust yourself.
