In today's Exponential Investor...- Transaction declined
- Making the easy, difficult
- A financial revolution
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Yesterday, I stepped you through how the traditional banking system is inefficient, ineffective and frankly, broken.
My situation is not an isolated one either. I know many readers of
Exponential Investor have similar issues with banks and banking.
People all over the world have similar problems. Take, for instance, this from Willy Woo, one of bitcoin's leading analysts:
You can go to the tweet
here and check out the responses to it. Make sure you do – it's the same thing over, and over, and over, and over again.
Different people, same story. The banks and the traditional financial system shafting
everyone. Why do they do it though? It's not like people that work for banks are bad people. I know plenty of bankers, none of them are evil people out to get the rest of us.
So why is the system so tilted against you and me?
The answer is actually surprisingly simple…
Decisions of the few
The people who work for banks aren't bad people. They also don't make the rules. They, like the rest of us, just have always been governed by those rules.
How the actual global financial system works, how it evolves, how its past has been and how its future will be, isn't up to us.
The rules that we have to live with don't require input from you or me to say this is (or isn't) fair. These are decisions by the select few powerbrokers that sit on top of the whole system.
The central bankers, the CEOs, the politicians, the powerful lobbyists. These are the select few who makes decisions on what
they think is best for
us. They do it so that the system helps them to grow their power and their portfolios.
Do you think US Treasury Secretary Janet Yellen got into her position because she cares about your pension pot?
Or do you think she's more than willing to use her position of power to make more than £5 million in speaking fees to grow her bank balance?
The controlling financial elites like her have all the power and the portfolios to prove it. It shows us just how big the power imbalance is in the traditional system. Decisions of a few, making decisions for the rest of us.
How fair is that?
There are loads of examples in history of small, select, elite groups of financial decision makers shaping how the global financial system will move forward.
In fact, this Thursday at exactly 2pm, I'm going to release a special broadcast that runs through every single significant meeting of the elite financial few in history. I will show you how these meetings shaped the financial world we live in today.
I will show you how it's led to a point in which the whole system is designed to work against you and for them.
But I'm also going to show you a way out.
A way forward which isn't reliant on the traditional system as we know it.
A way use utilise the tools and technologies that exist
right now, to fight back.
How you can use the biggest shift of financial power in history to
your advantage and to the disadvantage of the elite global financial power brokers controlling the traditional system.
Make sure you've got your viewing pass to this historic broadcast going live Thursday at 2pm – I view it as compulsory viewing (of course you'll always have a choice) but it might be the most important briefing I'll release this year and I absolutely think you need to check it out.
Defiance of the elite rule
As I pointed out on Monday and as I'll explain now, there is a way to move the needle on this power balance.
There are tools to shift the needle back towards you. Ultimately the way I see things heading, you will have full control over your financial situation and financial future in a way that has never been possible before.
It's through the incredible rise of decentralised finance (DeFi). Some people think that "DeFi" stands for "defiance finance," or just "defiance".
Truth is, it's a little bit of all of that.
What it means is that by using new networks there are means and measures to participate in global finance that puts you at the centre of the potential benefits, not the select few financial elites.
This rise of the decentralised financial system is breaking new ground in everything from deposits and lending through to asset trading, insurance and even credit ratings. Every touch point from the traditional financial system is in the line of fire to be upended and rebuilt.
This might terrify some people. For me, it's the most exciting development in finance we've ever seen. Arguably, it has the potential to be even more important than the rise of bitcoin.
Now, I will preface all this with a bit of a caveat.
This world of DeFi is experimental. Building a decentralised world of finance isn't a walk in the park. It's full of risk, full of potential and full of pitfalls. It's not something to blindly walk into expecting a smooth, easy ride.
It can get complex, it can be confusing. It can also be a trap as, like all financial networks, there are scammers and fraudsters just looking to fleece people of their wealth.
As it's so early stage and in such rapid development, not everything being built now will succeed. Many developments will fail. But those that make it through, that stick it out, that have real use-case potential and build a fair decentralised system will be the giants of tomorrow.
If it continues the pace of development I'm seeing now, it could be the future of everything we do financially. And it means the only one responsible for what your future wealth looks like is you.
In my ten years researching this space, I don't think I've ever been so excited about the financial future of people just like you and me. Finally we have the tools, through DeFi, to stick it to the financial elites.
That's the huge power shift I keep talking about. It's through DeFi networks that I think this will be possible.
I'm so confident of how important this future of DeFi that in my special briefing on Thursday at 2pm, I'm going to give away for free a report on how you can start to use DeFi to your own advantage.
You just need your viewing pass which you can get here, and you'll get immediate access to the free special report and another video I think you'll be very interested in.
Make sure to check it out.
Regards,
Sam Volkering
Editor,
Exponential InvestorPS Last week I recorded another conversation with Nigel Farage about the crypto ecosystem and everything I'm seeing happen right now. Including some interesting views on what bitcoin means for China and what China means for bitcoin. I think you should check it out, which
you can also do here.
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