MONEY: ₿itcoin as opposed to 529?

Tuesday, February 11, 2025

https://www.bloomberg.com/news/articles/2025-02-01/bitcoin-btc-college-savings-plan-parents-ditch-529-funds-for-crypto?leadSource=uverify%20wall

Parents Ditch 529 Plans and Embrace Bitcoin for College Savings

  • Despite the risks and volatility, some families are investing in cryptocurrency to build wealth for their children. 

By Charlie Wells and Claire Ballentine
February 1, 2025 at 11:00 AM EST

*** begin quote ***

Most parents typically worry about funding 529 college savings plans, brokerage accounts or high-yield savings vehicles for their kids. Now, a subset are eschewing the old ways, pushing instead to pile up enough Bitcoin to help their children in the years ahead.

Some say it’s because stock gains aren’t good enough. Others view it as reasonable diversification. Plenty are true believers — convinced that, despite a more than 500% gain since the depths of the last “crypto winter,” Bitcoin’s climb has only just begun. The world’s biggest cryptocurrency surpassed the $100,000 mark for the first time in December, having changed hands for less than $16,000 in November 2022.

Still, these parents argue their children have long enough time horizons to stomach Bitcoin’s intense volatility.

*** end quote ***

Anytime I blog on financial topics, I always disclose faiwwypfi (Free Advice Is Worth What You Pay For It! ?zero?) and I have no hidden interests.  I am willing to buy and sell ₿, goldbacks, and bullion.

Before jumping into this topic, you must be absolutely sure that you won’t lose the keys to the kingdom.  Your wallet should be backed up and secure.  

And, remember you may not be around to extract the value.  Everyone dies  —  sooner or later.  Remember the guy in the UK who threw away his back up hard drive with his ₿itcoin keys on it.  Millions of dollars in a landfill.

It also should NOT be an exchange wallet since “not your keys; not your coins”.

So you are going to have to have a young person to understand and hold keys.

A hardware walled that multi signature is essential.

Remember the Ukrainian tech guy who escaped Ukraine with nothing but his clothes and his twelve word pass phrase?

YMMV

That being said: (1) ₿ is an inflation proof asset; (2) it avoids the Gooferment; and (3) might be a hidden “lottery ticket”.

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MONEY: What about “where’s george” and political messages in the margins or stamped

Friday, November 22, 2024

https://www.ecoticias.com/en/dollar-bill-wont-be-accepted/8835/

This dollar bill won’t be accepted as of November: This will happen if you try to pay with it
by Sarah I.
11/20/2024

*** begin quote ***

Dollar bills have consistently gone through updates to increase security. As of October this year, new parameters were introduced stipulating what cash will be accepted at major retailors, banks, and ATMS. As we head into the final month of November and families begin preparing for the upcoming festive season, you may need to ensure that your cash is up to scratch with new standards set by the U.S. government.

*** and ***

As we enter into the final few weeks of 2024, certain dollar bills will no longer be accepted. These new regulations are tightening stricter measures with regards to damaged bills. Walmart, Target, and Dollar Tree have already begun implementing these new measures. The following damage to cash will not be accepted or exchanged at major retailers, banks, and ATMS:

  •     Mutilated banks notes with tears or missing corners
  •     Bills which have become significantly distorted or damaged where it become difficult to determine their authenticity. This could be from through water damage or from being burnt as an example.

*** and ***

If you find yourself with a mutilated bill which will not be accepted or exchanged, you will need to contact the Bureau of Engraving and Printing directly. From there, you will need to file a mutilated currency claim. “The BEP will evaluate the note. They have special tools to examine the authenticity and assess the full value of the note. After they do that, they can issue a check back to the consumer,” a Fed currency representative explains.

*** end quote ***

Well, what happens to those bills with political messages stamped on them or written along the edge?

Will those be declared “mutilated”?

That’ll be “yet another way” “they” take away or First Amendment rights.

What happened to only gold and silver would be money?

 

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MONEY: Why are “savings” taxed at all?

Wednesday, October 2, 2024

https://www.cato.org/blog/penalty-american-savers-how-usas-fix-it

September 26, 2024 9:44AM
The Penalty on American Savers and How USAs Fix It
By Adam N. Michel and Joshua Loucks

*** begin quote ***

For many young and low-income Americans, the limits discourage them from using the accounts at all. Americans who use these accounts and then have to access their money early for a family emergency or job loss face new layers of taxes. Many low-income workers are automatically enrolled in these programs by their employers, following government incentives or mandates.

Money deposited in qualified accounts cannot be used flexibly based on an individual’s or their family’s immediate needs. If someone cannot confidently commit to leaving their savings untouched until the government-designated time, it may be wiser for them to avoid using a qualified account altogether.

IRS data show that for the lowest-income taxpayers, penalties for improper use of retirement savings make up a significant portion of their tax liability. Using an average from tax years 2017–2019, Figure 1 shows that 43 percent of all taxes paid by taxpayers with adjusted gross income (AGI) below $5,000 went to penalties for accessing their own money. About 19 percent of income taxes paid by taxpayers with AGI less than $25,000 went to penalties on qualified accounts.

*** end quote ***

Why not let Walmart offer “banking services”?  Why not allow Credit Unions offer tax free savings?  Why aren’t Treasuries (i.e., Bills, Notes, Bonds) tax free like Municipal Bonds?

It doesn’t take a degree in Economics to figure out that America has a “savings problem”.  “We, The Sheeple”, responding to incentives, is deeply in debt.  No taxes on debt; taxes galore on any kind of savings/

Argh!

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MONEY: USA “sanctions” spur tech solution to SWIFT

Thursday, July 11, 2024

FROM TLDR Crypto 2024-07-05

https://cryptoslate.com/russia-contemplating-permanently-legalizing-stablecoins-for-cross-border-payments/

Russian government considering legalizing stablecoins for cross-border payments (2 minute read)

  • Russia is considering regulating the entire transaction chain, from transferring these assets into the country to accumulating and utilizing them for cross-border payments.

Assad Jafri
Jul. 3, 2024 at 8:48 pm UTC
Updated: Jul. 3, 2024 at 8:48 pm UTC

*** begin quote ***

Russia is considering legalizing stablecoins for international transactions to improve cross-border payments and mitigate the effects of ongoing sanctions. The Russian Central Bank is looking to regulate the transaction chain from entry to utilization. Its initiative would primarily target facilitating transactions with BRICS countries effectively integrating stablecoins into the national framework for international settlements. 

*** end quote ***

This is another nail in the coffin of the USA dollar and the SWIFT funds transfer system.

Our politicians and bureaucrats have really screwed the pooch this time.

Now assets will move bypassing and being transparent to the USA.

Good job, Guys.  Incentivize the rapid adoption of a competitive technology.

Argh!

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MONEY: Use the two spot to be remembered?

Friday, May 3, 2024

https://www.fark.com/comments/13229234/169639654?f=Fbfk8hp58iagSRQf806IOS7POTFNsWMDwq52f#c169639654

*** begin quote ***

In years past, when the commanders of a US military base would feel like the locals were becoming less than appreciative of their presence, particularly local law enforcement, they would order up a huge stack of $2 bills and pay the lower-ranking soldiers in cash that pay period. And they did it precisely for one of the reasons on this list. There’s no real place in the cash drawer for them, so they stick out like a sore thumb when doing deposits. And since those local shop owners all knew the source of those $2 bills, it served as a stark reminder of how dependent the local economy was on the base for income. 

*** end quote ***

I love the concept.

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MONEY: 100% reserve gold backed banking is the only way to get to freedom

Tuesday, April 9, 2024

https://www.lewrockwell.com/2024/04/lew-rockwell/bring-back-gold/

Bring Back Gold! 
By Llewellyn H. Rockwell, Jr.

*** begin quote ***

If we want a true gold standard, can we get back to it? Of course we can. The inflationary monetary policy we have today is the key to the financial elites control over us. Without it brain-dead Biden and his gang of neocon controllers couldn’t function. We must prevail, and we can prevail.

*** end quote ***

Sure we might have to pay for “banking services” like we did for travelers’ checks or like do now for using credit cards, but isn’t that better than the “hidden taxes” of inflation.

I’d sure like to try,

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MONEY: Penny candy, Nickel cigars, Dime store comics, and Quarter a gallon gas

Monday, March 18, 2024

DNF

# – # – # – # – # 

Penny candy, Nickel cigars, Dime store comics, and Quarter a gallon gas.

I remember.  Do you?

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MONEY: Will the Gooferment admit that they are “counterfeiting”?

Sunday, January 21, 2024

https://www.kiteandkeymedia.com/videos/should-the-us-mint-stop-making-pennies/?utm_source=join1440&utm_medium=email

Making Change: Do We Need Pennies?
When making money involves losing money
January 2024

*** begin quote ***

WHAT YOU NEED TO KNOW:

  •     It costs around three cents to produce a single penny.
  •     The United States lost over $93 million producing pennies in 2022 alone.
  •     Eliminating the penny likely wouldn’t raise costs for American consumers.

*** end quote ***

I doubt the Gooferment will ever stop making pennies because then they would have to admit that they have been stealing the people’s wealth.  Silently and surreptitiously.  At least when you are robbed by a mugger, you know it. 

Penny candy, a nickel cigar, and dime a gallon gas are bright neon signs that the Gooferment mafia has robbed you.

Wake up rube and see the road map.

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MONEY: “Labor Day” is a reminder of the effect of fiat money on the labor wage rate — Where is the $ 22-per-hour minimum wage?

Monday, September 4, 2023

https://schiffgold.com/commentaries/we-dont-need-better-government-policies-for-workers-we-need-better-money/

We Don’t Need Better Government Policies for Workers; We Need Better Money
August 31, 2023 by Michael Maharrey

*** begin quote ***

Labor Day is coming up. That means we will hear a lot about the plight of American workers. And we will undoubtedly hear calls for new policies to help make their lives better. But we don’t really need more government policies to help workers.

*** and ***

When he announced the closing of the gold window, Nixon said, “Let me lay to rest the bugaboo of what is called devaluation,” and promised, “Your dollar will be worth just as much as it is today.”

This was also a lie.

The dollar has lost more than 85% of its value since Nixon’s fateful decision, based on the CPI calculator. The purchasing power of a 1971 dollar is equal to less than 14 cents today.

*** and ***

Johnson promised removing silver would have no impact on the value of US coinage. “[The] Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin,” he said.

He was lying, just like Nixon.

When LBJ signed the 1965 act, the value of a dollar was almost exactly the same as it had been in 1792—0.77 ounces of silver. By 1980 the dollar had plunged to 0.02 ounces of silver. Today, a dollar today is valued at about 0.06 ounces of silver.

What does this have to do with the minimum wage?

Consider this: In 1964, the minimum wage stood at $1.25. To put it another way, a minimum wage worker earned five silver quarters for every hour worked. Today, you can’t even buy a cup of coffee with those five quarters at face value.

But today, the silver melt value of those five quarters stands at over $22.

That’s a $ 22-per-hour minimum wage.

Now flip things around. Today, it takes 88 quarters to pay a $20 minimum wage. If you paid that in 1964 silver quarters, the value of the metal would be something in the neighborhood of $390!

*** end quote ***

That’s a $ 22-per-hour minimum wage.

So it you’re asking for a higher “minimum wage”, remember that the same Gooferment asking is the one that screwed you in the first place!

Focus on the true cause of “inflation” and why you can’t make ends meet.

Argh!

Happy “Labor” day, suckers.

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MONEY: What does it take to be a moneychanger?

Saturday, August 12, 2023

 

Image 8 5 23 at 11 27 AM

 

Front

MyBTC

 

I don’t want Jesus to show up and beat me.

Laugh!

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