A Space For Unused Productivity
Hey Jessavers
Growing up, my parents always taught me the value of saving; I used to have these little tin jars or piggy banks which I would gleefully fill with money with the intension of having it filled to the brim. I remember how happy it made me to know that I had that stash ready as a child. It was always ready whenever I needed a few bucks to skip off to the store to get some sweets or a new set of marbles.
As I got older, that way of thinking NEVER left me, and I've always been a pretty good saver. Yes, when I first started working and earning a regular income, I spent it on parties, shoes and clothes, pimping out my car, you know, those kids stuff, but I continued to save throughout that period.
Savings don't mean shit in a debt-based world
The older I got, the more my kitty increased, the more it increased, the more my interest payments increased. I could pay for things in cash if I needed a new computer or phone if I wanted to take an overseas trip if my parents needed cash for something.
I was cash-rich in a sense but came a time when I got to that age where homeownership became a factor; I realised saving didn't mean shit. When I got to the bank to apply for a loan, they gave me an entire run around of how I had no credit record blah blah blah bullshit, and I should apply for a credit card, which I did and still have today.
I was gobsmacked; I saved all this time and showed how prudent I am, but because I don't finance with debt, I am untrustworthy.
Banks know money isn't a store of value
I started to think about it, and I realised that banks know that savings don't store value. It's like pouring sand into a leaking bucket full of holes. They are much more focused on securing your future income into their coffers or acquiring your assets that have value, like your home.
If I know you're going to pay me for 20 years or give me an asset that has appreciated in value for some paper money, I will take that deal every day of the week.
To me, buying a home is NOT an asset; it's just buying a liability on leverage. You make a deal you put 10% down and you borrow 10x to buy something that's going to bring you zero returns; in fact, it will continue to cost you. Yes, this purchase is the norm, but it doesn't make any less of a bad trade.
If you don't consume, you're doomed
For someone like me, I am an outcast for the financial system; I don't want debt, I don't want to consume all the time. In fact, I want to store my unused productivity and use it when good deals come my way. If I knew then what I know now, I would have been buying gold with all my leftover savings until Bitcoin came around.
It's been true for the last few decades, and I don't see much changing in the financial system that this won't continue to be the case. Perhaps I am drinking the kool-aid, but I see results, perhaps that makes me biased, but now that I've found somewhere to store my productive value, I feel a lot more confident.
I feel nothing to throw away fiat for assets, and why should I? Fiat is just a means quick exchange with a fee at is tax and inflation. If you think gas fees on ETH or Bitcoin mining fees are high, think about how much fees you pay to use fiat.
Have your say
What do you good people of HIVE think?
So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."
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