Client Support: (877) 258-0181    Mon-Fri 9am-6pm MST
Client Support: (877) 258-0181    Mon-Fri 9am-6pm MST

Around the campfire: Isn’t it time to take control?

Share
- -

This week, with the US election debate and increased rules around COVID, I’ve been thinking a lot about control. How much control we have of own lives and how much we are controlled by others: governments, employers and the like?

I believe that having control over our lives is a vital ingredient of happiness. Today, more and more people are facing an increasing sense of having their destiny controlled or even cancelled, rather than controlling it for themselves. Obviously, this is currently one side-effect of Covid-19, as Covid-19 is increasing job destruction. Right now, we’re seeing ever more people losing their jobs – Disney is now laying-off 28,000 theme park workers in Florida and California. Shell is making 10% of its workers redundant. The TSB bank in the UK is losing around 900 jobs. These and other job losses are not just a consequence of the economic collapse – it’s also a matter of changing human behaviour.

Covid-19 has become the great accelerator. It has accelerated not just the destruction of jobs, it has also sped-up government responses to try to protect those who have lost their jobs. While technological advances are inherently deflationary – everything from CDs to mobile phone and TV sets have fallen in price – governments are trying to keep inflation going in the system. I read recently that the European Central Bank has now said it will follow the lead of the US Federal Reserve and let inflation overshoot its target of 2% a year. We are living through a government-fuelled desire to stimulate inflation but technology is inherently deflationary. Incumbents can’t see the redundancy of their businesses.

There is nothing pre-ordained about a system based on inflation, which merely pushes up asset prices. Deflation is taking us in a contrary direction, which ultimately will mean more jobs gone from industries that don’t remain relevant to current society.

Governments may feel an understandable need to protect the lives and incomes of their citizens. So governments are becoming the entire economy – the source of income for many – and this means we are all becoming reliant on an assumed benevolent leadership. We have a mass injection of liquidity and most of that money is going into assets, such as the stock markets or houses. As deflation lays more industries and jobs low, governments will need to create more money, to shore up crumbling economies. Any stop in the exponential creation of liquidity would bring down the whole system – more and more debt. $185 trillion of extra debt has been piled onto the world in the last 20 years. I’m just not sure that this can this carry on…

We need a structural, innovative change in how economies run. Inventing something that works for other people is what innovation is all about. Glint is all about innovation, creating a system whereby everyone – no matter how rich or poor – can benefit in their daily life, by having easy access to the most ancient form of money, gold.

As I look around me and ponder on this week’s events, I see that life has become more fractured and choices seem more contracted. We need to be in more control of our own futures than would currently seem possible. You’ve heard me say it before, but this is one of the reasons I founded Glint in the first place, to give everyone more ability to control their savings and spending; to opt out of paper money and buy, save, spend and share real gold, that they actually own, in an effort to find some financial stability against the current and future mayhem.

Glint gives you easy access to gold and we’re pretty sure that gold gives you more control over your money than paper. As the US election gets closer, the dollar is looking twitchy… I urge you to take control.

Until next week,

Jason

Download the Glint App to start saving and spending your gold

Type to search...
Press esc to exit