 So, the Fed plans to keep on pumping cash. Now, what I want to talk about in this video is something that most people aren't aware of. And it wasn't until I got into Bitcoin, oh fuck, when was it like, six years ago, five six, five six years ago right now, when I went down the rabbit hole of economic policies looking at Austrian economics, Keynesian economics, and as of late, MMT, Modern Monetary Theory Economics, which is Keynesian economics on steroids. And why this is important for everybody out there is the fact that, listen, you're not going to become wealthy by keeping cash. So let's talk about this. The New York Fed just added $83.1 billion in temporary liquidity to financial markets this Thursday. And the US central bank looks primed to keep pumping cash release next few months. Why this matters? The stock market 30% gain in 2019 was no small part backed by the Fed's decision to cut US interest rates. Okay, so I'm going to talk about this here. All this quantitative easing, all of this money printing, it doesn't benefit you and I. You know who it benefits? It benefits bankers, it benefits Wall Street because this is what happens in a nutshell to simplify things. They print money, the money is given to insiders on the top. This is called the Catalinian Effect where they're the first ones to touch it. What do they do right away? They do buybacks or stock purchases on the free money they printed and they propagate the stock and obviously you're the schmuck buying a higher propagated stock price and they dump it on your ass. So pretty much they're dictating how stock markets around the world are working. They're printing money, they're increasing inflation, right? They're decreasing your buying power and at the end of the day they're literally getting free stock if you summarize this. And so how most people view this, and I'll get to this in a second, fund manager on QE Madness, how most people view life is okay, I'm going to work, cool, I'm going to save money, put it in my bank and hopefully me saving money is what gets me wealthy. That's not how you get wealthy. And I'm not talking about wealthy like Warren Buffett wealthy, I'm just talking about you have something that you can retire on and I'm not a big believer in retirement but at least you have something when shit hits the fan, let me put it that way. There's a latest study done in North America, Canada included on average most say Americans and Canadians only have about $400 in savings, which is fucking crazy. So here you are busting your ass, putting money in the bank and what does the bank give you? 1% if that interest rate when in reality at minimum you're through inflation you're getting 2% knocked off your buying power. This is a standard without QE, you're getting 2%. Not to mention all the quantitative easing, like latest studies I saw it's on average like 4% to 5% per year you're losing buying power on your fucking dollar. And so think about this, you have a dollar in your savings account, next year that dollar is probably worth 95 cents. The following year is worth 90 and so forth and so forth. It's getting so bad that now they're talking about negative interest rates where you keeping money in the bank you gotta fucking pay them, they're not even giving you interest, they're charging you so you can keep money in their fucking bank. So I want to go through the fund manager QE Madness, he's saying this is more crazy in 2008 this is from David Kranzler says bank assets specifically subprime lending assets are melting down again here's why. Well the repo operations by the Fed is quantitative easing we'll just call it what it is is QE. Based on all the underlining data I scoured daily let's just cut to the chase and call this the facto banking system bailout. The technical details on why the plumbing in the banking system is getting too clogged is mere surface analysis. The underlining systemic problems are similar to the problems that pulled the rug out of the financial system in 2008. Bank assets specifically subprime lending assets are melting down again. So he goes as example city bank is now sitting on top of nearly $1 trillion in credit default swaps again. The article notes the New York Fed secretly hid from the public view that it has that it had funneled $2.5 trillion to city group and is trading units from December 2007 until 2010. Yeah, yeah, yeah. Okay, I'm not gonna go too deep but pretty much here's a fund manager saying you're all getting fleeced through quantitative easing. And so what's the purpose of this video? What do I want to get across? I want to get across that cash as you know, a paper cash is worthless, absolutely worthless. If you Google right now the average length of a fiat currency, it's 27 years. That's the average length of all the fiat currencies. And this is why we see explosion in cryptocurrencies such as Bitcoin where people are seeing that as a asymmetrical uncorrelated asset class that is the opposite of inflation, which is deflationary as it ages. And inflation is issuance but it decreases as an angel. It's a deflationary asset in the long run. And so let's say you're working your ass off, you have a high-paying job, six figures in North America, and you're saving away, that's not how you're gonna have to protect your future. This is why very intelligent smart people tell you to save when in reality they're not saving shit. What do they do? They'll take free money in form of debt for pretty much free, like literally the Fed is printing them free money and they're buying assets. This is why I always tell people assets, assets, assets. And like anything in life, you're not just gonna buy an asset that you don't know anything of. This is another big fallacy people have is they're gonna invest in stuff that because someone told them to invest. That's fucking stupid. You have to do your due diligence, you have to do your homework. But I made a video before talking about equity. Equity is the most important thing in an industry that you know. And so don't be bamboozled and scammed into thinking that your savings account is what's gonna protect in the future. You need to diversify and get equity. Equity within startups, raw commodities, so gold, silver, etc. Get some bitcoins, get at least one to two percent exposure in bitcoin. This is not financial advice. This is what I would tell my kids even and start educating yourself on our financial system. It's broken. It's completely fucking broken. It's gonna get worse. We have something coming up called MMT theory, modern monetary theory. It is a fucking joke. Like I can't even stress to you how big of a joke. It's in a nutshell, it's debt. Don't worry about it. QE, don't worry about it. We're never gonna pay it back to debt. We're just gonna print as much money as humanely possible and it really doesn't fucking matter. This is a disaster. You're killing yourself to work for a dollar. Government comes in. Let's say we'll use a six figure example so you're making 100K a year. For the most part, North America is pretty similar, like 95 percent, where roughly gross tax is like 48 percent. Let's round it up to 50 percent. Every dollar you're fucking working for the government comes in takes 50 percent so you're left with $50,000 after taxes. That $50,000 starts depreciating because of inflation. Because of quantitative easing, because of MMT. And not to mention, not to mention, right, cost of living goes up. See, people always talk about things are getting cheaper. The wrong things are getting cheaper. Property value is going up. Rent is going up. Food is going up. School is going up. Tuition. The things to fucking matter the most if you're looking at the mass or higher care needs, right, shelter, food and education are incrementally rising. And the things that don't matter like whoopie-doo, my fucking phone or my cable bill or my internet bill are decreasing or my new stupid fucking app, it's decreasing. I don't care about that stuff. It has nothing to do with mass or higher care needs, you know. Those are, those are, those are wants, you know. You want those things. It's not what you need them. You need shelter. You need food. And so educate yourself about this, you know. Another great book to read on this is Economics in One Lesson. Yeah, here we go. So this by Henry Haslet, yeah, this honestly, it's one of the best short reads to really dive into our economic policies, looking at the difference between Austrian economics, which we don't really use today at all, versus Keynesian economics, which is rampant. It's like, we'll do whatever we want. You know, you're buying power is worthless through inflation. So read this book. It's really, really fucking important. It's going to change your perspective. It's going to change your mindset. And bottom line is like, we're in a modern day slave system. And if you're relying on your paper currency to create a better future for you, you're going to get fucked, right? This is why people invest in real estate, asset appreciation, tax benefits as well. A lot of ways you can do trust funds too, within that system. This is why the bankers do stocks, you know, they get free money, the Catalina Infect from the Fed, they buy back stocks and they sell it, they liquidate it. This is why, you know, investing in startups is super high risky, but, you know, asymmetrical returns, your $5,000 investment one startup might be worth, you know, half a million dollars within seven years across your fingers, right? But at the end of the day, you are investing in appreciating, let's call it equity, appreciating equity that will, let's say, hedge against inflation, right? So leave it at that, get this book and remember, cash is garbage, peace.