‘The Billionaire Magician’ is an analogy I often use when discussing the modern world and today’s global wealth inequalities.
Over the years I’ve come to learn how the uber wealthy ‘operate’. I’ve seen many examples first hand and have countless stories I could share.
The modern day ‘wand’ is a smart phone. With a few key strokes or a quick call to an executive assistant today’s billionaires can make things appear or make things happen like magic.
I debated the value in attempting to achieve such mystical powers before retiring at a very early age…
The magical powers are very intoxicating. With a powerful enough want (iPhone and bank account) one can have a helicopter arrive nearly anywhere in extremely short notice
The billionaire magician is there by given the ability to fly anywhere on the planet. All sorts of fine foods and drinks can appear with the snap of a finger. Cars, houses, boats.. bought or leased with ease.
Any regular day of the week can become a day of supreme adventure.
The billionaire magician can be a modern day superhero. Just like in the movies, the responsibility should weigh heavily upon them.
“How do I use my power for good”
I say ‘should’ I think so it doesn’t for most.
The near billionaires I’ve met are obsessed with hitting that magic number and likely work harder than anyone to try to reach their goal. ‘The Big B’ or ‘BFB’ as I once heard it joked about ‘big fucking billionaire’
Hilarious… unless your poor as fuck…
I’ve chatted with many super rich people over the years about how fortunate they are to be born in their country and given the opportunity they have not just by genetics but having the right skills at the right time to succeed. Plus the support of an organized society to enable
I’ve met many a rich tech nerd and discussed how in a other time they would be polishing armour and maybe given an extra helping of slop because they figured out a new chemistry for boot polish.
I’m disappointed by how people have become valued at extremes.
Hedgefund billionaires/traders are all for squeezing a commodity or trying to corner a market segment via a patent. But they often through a tantrum if workers in a union want to demand more to protect them against fire, or crime, or teach ‘the disadvantaged kids’
They expect people to risk there lives protecting them and their workers (whom they depend on) for a peanuts. They make more a day then most earn in a year. At extremes then most earn in a life time.
I’ve debated this prospect and admit. I coward away from it.
I didn’t crave the magic wand enough. I didn’t want the responsibility. I didn’t want fingers pointed at me. It was easier to retire with more than enough and just ‘do my thing’.
But, sometimes, I debate working harder for that damn magic power so I can’t use for good
Theoretically if I kept just saving and compounding I will join the club. But that’s likely far from reality. I’m more more likely to say screw it and unplug. Life’s too short and my opinion of human nature too low. I’m not into peeing into the wind.
I don’t think we are ready for change and I apologize for not being a stronger leader for change. I wish I was better…I wish we all were. Hopefully, we will be inspired by our youth and support all them. The shall always inherit the earth.
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Simple math. Bitcoins are worth nothing. It’s entirely a cult ponzi. Owners promoting them to try to sucker the masses to pay more for them. It’s that simple. Energy wasting to make. No utility, no asset backing, just the first of the endless stream of faith based crypto crap
People sure love to argue about crypto. I find it fascinating to see how cultish its following has grown to be. Zero logic. No understanding of the history of all unbacked faith based currency. They will be defiant forever. Always trying to convince others to come play there game
They don’t see that they are just part of a fringe following that will never achieve the status they dream of. At some point enough of them will see to own things in the real world that the cash in their ecosystem will drained out. They will then understand they have been had.
Ya know what goes great with your Gold investments? An ‘I don’t give a fuck attitude’ when it comes to listening to the Fed, Central banks, brokerages, and investment pundits that draw little ‘make it or break it’ lines on a chart.
When gold looks sick and it’s being insulted but you believe it’s in a long term bull you buy it. Expect it to break down and rinse people. It happens at nearly every major turning point. The only think I’ve do is look to take some profits and shift gold stock gains to bullion
When at an extreme for stocks away from the 200 and 50 dma. Then when when we inevitably get a down turn. Look for a two wave down retracement to a major moving average hopefully around an important Fibonacci. 618 or 786. Call it close enough and reload or rebalance
After reviewing this document from the Presidents Working Group on financial markets discussing StableCoins future regulatory framework, I’ve got some opinions on how this all will probably play out. #cryptocrash#crytpo#sec#cftc#fomc $mstr home.treasury.gov/system/files/1…
Firstly regulation is coming even though the crypto believers don’t want to accept that it will.
@GaryGensler has clearly (ominously for the crypto world) stated that throughout history there have been attempts for private banks and currencies to operate outside of public regulations and all have failed. Basically saying crypto and exchanges will be regulated or destroyed
So looking at the articles on the size and inflows of the crypto ecosystem it seems like this year will see ~$10b inflows, up from ~$7b last year. But the ‘value’ of all the coins in the system is said to have hit $3T. Even if we say total inflows in history have been $100b
Everyone should be prepared for a liquidity drain that’s coming. Bitcoin is set to crash imho. Tether Holdings is 100% the biggest ponzi ever. It’s shockingly horrible truth that is finally getting man stream understanding.
Bitcoins are nothing more than the 1st of the 15,000+ bullshit coins with all sorts of stupid names and childish logos. All the unbacked coins are nothing more than digital fiat and requires suckers to keep feeding the ponzi.
What makes this crypto sector ripe destruction is the fact that Tether Holdings is being exposed as pure ponzi. The Comercial paper swaps it has entered into are a fucking sham. These guys are hiding the truth because the truth is bad. If the Comercial paper was good they show it
Great sign that Greenland is open for business and there there will also be competing nations looking to secure metals to import and help industry. $moly kitco.com/news/2021-12-0…
Greenland Resources $moly has the #1 world class molybdenum project. I believe we will see similar government backed funding options for its mine at low rates and great economics.
US EXIM Bank looks to fund ironbank for its zinc/lead mine
I’m told the EU is likely to do the same for Greenland Resources. Germany in particular is desperate to secure Molybdenum for its steel and auto industry. It’s an absolute must have. Greenland Resources is my top multibagger pick. 20x potential.