Hey Steem citizens,
Sure I can call out small actors for scams, and I certainly will in the future, but why mess around? Let's call out one of the biggest scams of them all:
The United States Government
A large chinese credit rating agency, Dagong Global Credit Rating Co, has recently downgraded the US government rating to +BBB
I'll do them one better:
United States Government: credit rating: F-
This organization is incredibly deep in debt, which grows every day:
http://www.usdebtclock.org/
600 billion was added in just a few months.
This scam organization extorts billions of dollars from millions of people every year with taxes, which are collected at the threat of violence. Much of this money is used to perpetuate wars and commit various atrocities around the world, to maintain its global empire.
The currency promoted by the US government is the US Dollar (USD). This is a scam coin, one of the worst shitcoins imaginable (even worse than bitconnect). The USD is a largely digital currency, but without a proper blockchain, rather it's just strung together with a poorly designed, ad-hoc network, subject to arbitrary inflation which benefits the Powers That Be.
The USD is not backed by anything valuable, President Nixon closed the gold window in 1972.
There are signs that an exit scam may be approaching. The US government is no longer able to pay its bills, each month for the past four months, it has had to issue a short term continuing resolution to pay the bills, and even this effort has failed last friday, as the US government is entering a shutdown. A shameful display really.
http://www.cnn.com/2018/01/20/politics/what-next-government-shutdown/index.html
To try to list all the sins of this corrupt organization would take a library full of books, and I won't attempt it here.
The Bank of Neoxian advises that you avoid doing business with the US government if you can. Sadly, many are forced to at gunpoint.
Can't wait for this ponzi scheme to be exposed!
Since 1972, the US government can always pay its debt in its currency with whatever interest rate it promised to pay on it because it creates its currency out of nothing.
Government bonds should be downgraded due to their respective currencies being devalued, and not nearly as much due to a risk of default.
However, some currencies may be worse than others in certain periods, and in such cases buying US government bonds may be a beneficial move as a ForEx bet.
This is not a recommendation or suggestion to either buy, hold, sell or short them now.
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This is painful for me to read as a U.S. citizen that was raised to love my country. Sadly the truth is the truth, and the U.S. government is completely out of control. It is no longer the land of the free and home of the brave. It is better than many other places still and I am thankful for the blessings I have but it is no longer the bastion of hope and freedom that it once was. I am ready and participating in the new blockchain economy and only plan to buy enough USD to pay off my system induced debts and gain my financial freedom and invest more in Steem and EOS.
Its amazing to think that newborn American baby starts out life $63,000 dollars in debt. How much more will that child be in debt by its 18th birthday?
Shitcoin... worst than bitconnect... :) Great article... Thanks for sharing. Upvoted, followed happily .
Lol that cracked me up too...bitcoooonnnneeecccttt
the debt will be forever if goes like this
As soon as that shitcoin bursts all the cryptos will rise and we will live in a new age, THE AGE OF CRYPTOS, where we are all our own banks and everyone gets a piece of the pie, and the fat kid (Banks, government, youtube, twitch,facebook,amazon,etc...) will only get a piece of it contrary to now that they get 99% of the pie, and no one can stand up to them!
The Scam did made me wonder a bit !But as it seems the facts are indeed true !Time will expose everything !
this is going to be more concerning right now with increasing debt with time
I have nothing to add, but AMEN. The rest of the world suffers along too.
the debt will keep on increasing
Good post @neoxian, the line "worse than bitconnect" made me laugh, although it's probably true lol.
BTW I have an open delegation request up on MinnowBooster, if the Bank of Neoxian could see fit to approve my loan I would be eternally grateful ;)
Sorry but I already have a waiting list of people waiting for any spare power I might have.
you're totally right. the dollar is not backed by anything other than that it is printed out of thin air.
pheww i thought another scammer came
Oh Canada!
The last time they stop the government and restarted all employees were paid in full even on days they did not go to work. Everything went as the usual but what kind of logic is that? Pretty fed up with all they are doing.
You, @neoxian, just made my fricken day!!! I can’t wait for that shitcoin scam to implode. Yes, many will suffer but we are hear in crypto land preparing for the inevitable. And many many more will wake up from the scam into this path that I’d like to call “non-aggression revolution” against the bastard criminals!!
There!!! I said it! Aloha
It's important to call out these things for what they are. You've said it, I've said it, soon everyone will say it, and it will be done.
Amen!
You speak the truth! That is another reason why I keep saying how we are self regulated here in crypto land. You are right...... it is way worse than Bitconnect. At least with Bitconnect we had a choice to not participate. Like you said many of us are forced to participate in things we don't agree with here.
Goddam, you U.S. guys are gonna have to pay up soon or go bankrupt
agree. print off monopoly money to buy hard assets and continue to be fiscally irresponsible.
Other countries accummulate the worthless paper and become dependent on the deception.
Nice post!
this is very beneficial for the people of the world .. Thank you for sharing with us ..
bitconnect starting to not look so bad after reading your post!
:O
USCONNECT I guess lol
Good overall analysis and explanation, @neoxian! How would you integrate in this dollar equation the "FedCoin" project, combining the progressive prohibition of printed currency and its replacement by an officially backed federal cryptocurrency?
I don't know much about these crypto-currencies that are being proposed by various governments around the world, including the "FedCoin", but I'll say that these coins will have to stand on their own merits and compete with the existing cryptocoins.
And if these governments use laws to force their coin to be used by citizens, and make the use of the free coins illegal, well then that will speak for itself. It will be an admission that the coins can't compete without threats of violence to put them in place.
Agreed! That's why I'm continuously advocating practical articulations between some cryptocurrencies and the to date most widespread "altcoins", i.e. the 5,000+ local alternative monetary units (like the famous "Bristol pound", in the U.K.). State authorities can enforce a ban on any blockchain-based money they're hostile to, but it'd be way harder if they have to deal with currencies based on REAL communitary solidarities (between neighbours, coworkers, church members, etc.).
thank's to share with great explanation..
upvoted
nice informations thanks
tether is 100 times worse than the usd
Nice post beautiful presented and explained THank you dear @neoxian for informative post !!!!
thanks for sharing the news..i too hope that it is best thing to be done now :)
Thank you for updating us
-cheers-
Yeah, but the US government provides a lot of people with what they need to survive. Pretty sure it's on par with all the other world governments you conveniently didn't mention.
What do you propose? We switch to following whatever coders are in charge of the latest crypto pump and dump?
Or maybe we all shift to working with your government of choice, which probably has/would develop the same shortfalls and scaling issues of the US government?