14 Oct 2015

When It Comes To Spending And Borrowing, Don’t Behave Like Your Government...

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...because while the government can print more currency to meet its (debt) obligations, or increase its spending, you can only work extra to make more money within your maximum quota of 24 hours daily.

No! Don’t be like the governments of the world who print more currency once they have more need of cash, instead of finding ways to prune down costs and reduce their spending. I used to have that mindset too believing that the fact that one can easily make (or print) money is enough evidence to throw caution to the winds by not being prudent in spending.

I watched this video series by Mike Maloney recently, and it enlightened me further on debt, money and currency issues. You can view it in your spare time too, you will learn a ton though Mike is a gold and silver investment buff. 

I was actually researching for an IoT ATM-money fax machine (that I want Credicoins to build to give to its offline agents in order to facilitate a cashless society), then my partner, Bowale Banjoko sent the link to me.

What causes Global Financial Crises
Global financial crisis occur due to only one reason – DEBT. When you spend money you have not made ahead of time, what you are doing is this: you are borrowing (money) from your future to fund your present (needs), mostly with the hope that you will make more today, to cover up for the deficit.

Now, borrowing/debt is not bad, as I have said before, neither is it good anyway. 
Debt is simply taking from your future to fund the present with a mindset that with the financial opportunities you have today, if you can get an extra amount to spend/invest, you can make so much more tomorrow. However, while the rich have perfected the use of debt as an instrument of wealth, the poor mostly become more enslaved by their borrowings.

A Global Financial Crisis occurs...when there is too much simultaneous borrowing from ‘the future’ by the governments of the world, the banks, corporations and average individuals, more than ‘the future’ actually can afford. In other words, there will be a meeting point of 'the present' (spending) with ‘the future’ (being borrowed from). That meeting point, or melting point, is the period when a financial crisis occurs.

The solution to all (future) global crises
The solution is simple: Be contented, live within your means. Someone should please tell that to the government, to scientists and corporate bodies...tell that to everyone who is entrenched in debt and still borrowing from their credit cards.

Loans create money. Loans take money that does not exist (still in ‘the future’) and attempts to bring it into the present to create more spendable money for ‘the future’. Use it wisely.

By the side,
23-year old CaptainSparklez makes $4 million playing video games and showing it on Youtube

I came across a guy; Jordan Maron, who makes a living playing video games and then recording it for his over 9 million Youtube subscribers. In a total, he has over a billion views on Youtube.
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Credit:Forbes
You can read more on him from the article. He is raising funds on Startengine for a gaming franchise he just launched- XREAL. Though he has a goal of $2 million, he has so far received over $2 million.
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