I assume that most of you follow the news, but the news obviously do not tell the full story, so I would like to highlight a very important aspect about the monetary system: engineered boom and bust cycles. You are getting told that those just happen, for absolutely no reason at all, and if there are explanations provided, they remain on the surface level. You will hear something about greed but there is nothing to worry, goy, because the system is sound overall. I still have not come across articles critical of mainstream banking in mainstream news, and none even discussed money supply in a meaningful way beyond some bullshit about a “liquidity crisis”. It also is not the case that Silicon Valley Bank or Credit Suisse collapsed because of some woke morons. These people only hastened the decline.
There is as famous quote erroneously attributed to Thomas Jefferson, which cannot be repeated often enough:
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
This is basically a summary of our economic history. It starts by banks expanding the monetary supply. Suddenly, credit is cheap. People get incentivized to buy cars or big houses, and companies get ridiculously cheap funding. The most recent example is the tech boom where we got to a point where people who barely managed to turn on a computer got a six-figure job as front-end developers after a five-week “bootcamp”, provided they used the right set of pronouns. Of course this was unsustainable, and large number of those people have found themselves without a job in recent months. We have not yet seen the end of the current contraction, though. A lot of companies use business models that only work in an environment with very low interest rates, and now that this has changed, they are losing a lot of money. You can look into the fintech sector if this is a topic that interests you.
Of course, all those banks just operate kind of arbitrarily, like some kind of hive-mind. It is an anti-elven canard that banking is run by elves, and even if it were, it is probably just a response to all the elven hatred those people have experienced all throughout their lives. Be it as it may, the end result is still that a flooding of money, followed by a sharp contraction will lead to people and companies having to default. In consequence, assets can be bought up for pennies on the dollar.
As I am schizophrenic, in a good way, I avoid debt at all costs. My belief is that the system is set up to incentivize you to go into debt, and it wants you to not repay it so that you can be driven into personal bankruptcy. You may lose everything you have, even though months or a year ago you thought that you have made it. This phenomenon is unfolding in front of my very eyes in the region I live. Due to cheap money, there was a housing boom. Of course, building a house is still very expensive so only people solidly in the middle-class, and above, would do that. Now that mortgage rates have jumped up from 0.5% to 4% or more, some people are frantically trying to sell their house because they cannot afford their mortgage anymore. There are even people trying to sell half-finished houses, i.e. they were unable to secure a loan for the remainder of the construction, so now they are trapped. Presumably, they were led to believe that they can get more cheap money whenever they needed it.
Debt as leverage can be helpful in some circumstances. For instance, if you have assets you do not want to sell, you can use them as security. However, you are still screwed if your assets cannot cover the loan. All it takes is your fancy tech job to go away overnight. Next, the bank will come in, and take the house. This is a really messed up system. Well, you are supposed to own nothing and be happy. Klaus Schwab says so.
I think that the best way to ride those engineered boom and bust cycles is to participate in the stock market. Do not make any risky bets, and make sure that you do not endanger your livelihood in any way. This will not help much if the government decides to ban cryptocurrencies and force you into using their own government shit coin, but for the time being, this is probably the best you can do with your paper money. However, a much saner approach would be to get a bit of property, make sure you are financially secure, and ignore all this bullshit. This is what I have been working towards, i.e. getting a small house with a bit of land so that I can grow my own food and perhaps have a chicken coop. This only works for as long as the government does not put up temporary housing for a thousand African doctors and engineers, or sends a train with highly toxic chemicals your way.