Me commenting on Georges Crypto RUs, You Tube Channel today,…
“The other problem with panic selling even when there could be valid reasons for doing so is;
“jumping out of the frying pan into the fire”.
The reason why I went into other asset classes like crypto in the first place was to get at least some of my money out of the banking system and fiat currency. Fiat currency is not like crypto going up and down with intense volatility, no fiat money is always heading in a constant downward trend of
‘lower highs and lower lows’
as George and others continually keep stressing. If you still do decide to sell then transfer that cash asap into some other stable asset like precious metals, energy and food commodities, scrap silver, add to your stockpile of food …. or even toilet paper but whatever you do, don’t leave large sums of cash in the bank. Money printing, inflation,
‘zero reserve banking‘
(that has now replaced ‘fractional reserve banking’ which was bad enough already), Trudeau style freezing of your bank accounts (and crypto assets still floating around on exchanges) and I have not even started on that
“taxable event” 😱😱😱”
This is part of the sum total of over two years of self learning, not only about ‘crypto‘ but investing and finance in general. It makes up part of that financial literacy that (as Robert Kiyosaki continually keeps emphasises) the financial education they never taught us at school.
My learning journey is far from completion both in the studying as the ‘trial & error’ application of it. I am a slow learner but ‘slow but sure’ I can at least say that I have not stood still either.
Or is this like George states just another game of Whale manipulation? Who knows. But George has seen this so many times before and it seems like that he is still just going to ‘sit tight’ &
‘ride the storm‘
And lets not forget our good old Fear & Greed index.
Absolutely nothing is risk free in life, Black Swan events included. Where there is no risk there is also no profits or benefits to be made and as I have quoted in previous blogs a number of times;
‘the greatest risk is … not to take one‘
But this blog must not be taken as any form of financial advice, its purely written and shared for entertainment purposes only. Always do your own research, consult a professional if need be, before you buy, sell or do anything financially.