Fellow humans,
You should see “Open in browser” in the top right corner of each SALtoshi Whitepaper email, which I recommend you should click each time, instead of reading my posts in your email inbox. Entire paragraphs disappeared from previous posts in the email version, but no issue in the browser version. Not sure if the email issue will persist, so reading each post in your browser is the most surefire way to catch every word from my 👽 brain.
Time flies when you’re having fun. With bitcoin around $20k, not sure how some of you are doing, but hopefully you’re ok. If you’ve used leverage, then you’re probably not. If you’ve simply dollar-cost averaged into bitcoin over time, then you probably are. I’m happy buying bitcoin at $20k, so let me know if you want to trade for dollars. We’ll see how that works for you over the coming years.
Inflation is still going up (bad), so the Fed is still tightening the dollar supply (also bad). Centralized monetary policy = bad. Eventually, our recession will become too much for the elites to tolerate, and the Fed will print dollars again. Probably sooner rather than later, but I don’t know. Ideally, bitcoin should perform well during high inflation, but it’s only 13 years old, and most people still don’t understand the basics of money. Once they do, bitcoin goes to the moon, regardless of what the dollar does.
We’re in this situation (high inflation + recession) because the global reserve currency is manipulated by a very small group of elites who never deal with the consequences of their actions. Think back to 2020 when trillions of bonus dollars were printed because of the forced and planned economic shutdown. We knew trillions of bonus bucks would lead to high inflation. Now we’re here. Moving forward, the Fed must decide how far they want the recession to go before re-opening the flood gates.
If you care about your own personal financial situation, and you’re ready to make your life better, then you should focus heavily on the following things:
net worth
debt & expenses
income
Net worth is the result of hard work, so no need to overthink, because it will take care of itself. However, if your net worth is currently negative, then you’re not doing well right now. Income doesn’t change very often for most people, so no need to overthink this either, but it’s good to know how much money is coming in (addition), because money is always going out (subtraction), and math is important when you’re trying to efficiently manage your money. Minimizing monthly expenses is usually helpful, and eliminating debt forever is the most urgent matter and a huge milestone.
The biggest problem I’ve seen over the past two years are people who took advantage of financing. Maybe they’ve borrowed a bunch of money to buy a house, new vehicle, vacations, etc. Borrowing money is toxic. We don’t take advantage of low rates and low monthly payments. Debt takes advantage of us. However, don’t panic if you’ve buried yourself in debt, although you did exactly what the elites wanted. Don’t own nothing and be unhappy. Financial advice — know your income and expenses by daily or weekly tracking, learn to budget, pay debts, and find a solid way to save.
Until next time,
Salvatore Norge
P.S. — Micro-dosing weed after lunch is stupendous. Also, Winona has a new baby brother Charles, and both of them are about to be stacked with sats someday.
“Keep falsehood and lies far from me; give me neither poverty nor riches, but give me only my daily bread. Otherwise, I may have too much and disown you and say, ‘Who is the Lord?’ Or I may become poor and steal, and so dishonor the name of my God.” — PROVERBS 30:8-9
I’m not very wise. Never financial advice. Do your research.