#DeFi Potential To Right Side The World Economy – (Chris Coney & Martin Weiss) WCSS:012

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November 14, 2021


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Chris: Hi there, guys. This is Chris Coney speaking, and welcome to this week's edition of the Weiss Crypto Sunday Special. My guest today is Dr. Martin Weiss. And the microeconomic topic we'll be discussing today is why the traditional markets are in big trouble, and how you can profit from the big opportunities in the transformation that is underway, no matter which way it goes. So, first of all, Martin, welcome to your first Sunday Special.
Dr. Martin Weiss: Thank you for having me here. I really like the work you've done. I really love the interviews you’ve done with Marija Matic, and the rest of the team.
Chris: Absolutely. They're just a wealth of knowledge, those guys so I'm always delighted to talk to them. So let's begin with the first part of that statement I just made. We're in the process right now of building a DeFi program, so this is the ideal time to talk about this. On a macro level, how have the traditional, global markets gotten themselves into trouble? And then we can go into the transformation that's underway. Martin:Martin: There are several dimensions to it. It's all one big phenomenon, but let's look at the key dimension first. In order to save the traditional financial system during the great financial crisis of 2008 and the great recession that followed, and the big post pandemic and pandemic crisis of 2020, they have had to effectively eviscerate the income of not just millions, but billions of savers and investors around the world. And they have had to basically exploit all the small and even big borrowers around the world.
Because, in order to save the financial institutions, they had to shove down interest rates to zero or practically zero. And they had to give the opportunity to borrowers to earn a lot more, especially on things like credit cards. So, the end result in the United States is the average one-year yield that you can get on a bank CD is less than two tenths of a percent. Last I checked, it was 0.18%. That means if you invest $10,000, all you're going to get for that at the end of the year is a meager $18. Not even enough to cover an Uber to get you back home from the bank.
Chris: It's a good point.
Martin: On the flip side, if you're a credit card user and you don't pay up immediately and you actually build up a debt on your credit card, you're going to have to pay a minimum of 24%. And if you let it compound, you're going to have to pay over 30%, maybe even as much as 40% per annum.
Chris: It's the same in the U.K., 25% to 30%.
Martin: Exactly. So that is a disaster — not just for a few people, but for billions of people around the world. And anyone who is trying to either start a business or earn a little bit of income to cover their expenses, but their nest egg is in big trouble. If the majority of the people are in big trouble financially because of that, you better believe that the financial system as a whole is in big trouble.
Chris: Right. Where's that money going then? If the 25% of the credit cards isn't going to savers, who's getting it? Because we know the savers aren't getting it.
Martin: Banks are getting it, and a lot of it is being used to cover the risk of defaults on those credit cards, of non-payments, or chargebacks or other things that happen.
But the worst of this is that after driving interest rates to zero, and after printing trillions and trillions of dollars all over the world on top of that, the financial system is no safer today.
Chris: Well, isn't that because it's essentially the same system?
Martin: It's the same system. And instead of fixing the problem, they're just sweeping the dirt under the rug and making it worse and worse for the long term. Now, in the near term, the markets are up, the economies are recovering, everything is fine. For politicians, that's enough; but for economists who study the long-term durability of any financial system, it's very bad news. And now, we're starting to pay the price in the form of the inflation. When the CPI was bad two months ago, the White House came out and said it was just temporary. When the CPI was even worse in the most recent announcement — in fact, the worst it's ever been in eight years, now 13 years — they said the same thing, "Oh, it's just temporary." But guess what? Back in 1970s, when we were watching inflation snowball into double digits in the U.S., they also said the same thing.
Chris: Do they believe they're in denial, or they're hiding the truth? What's going on there?
Martin: It's a combination. Some people who say it believe it. Some people who say it don't believe it, but they're just saying it because that's what they have to do in order to keep their job, or in order to maintain the-
Chris: Keep people calm. The Cryptoverse features reading the news from various sources. Each episode lasts approximately 15 minutes and includes my moral, ethical and philosophical interpretation of current events. If you’d like to be kept up to date on Bitcoin, cryptocurrencies and blockchains by someone who believes in the free market, equality of opportunity and the value of education then subscribe to The Cryptoverse today. Video Source https://www.youtube.com/watch?v=s9S_C1jzYcg

Crypto Currency Resources & Recommended Products

The following lists are tools and resources that I put together to help anyone that is interested in crypto get a head start. It can be quite daunting when you first get into cryptocurrencies. There is some much information out there and some much uncertainty.

Disclaimer This new crypto movement is an economic revolution. While it may be an exciting time to get started with crypto currencies, this digital gold rush has a plethora of bad information out there. The recommended products below are based on my own experience with my own personal use of these products.

Disclaimer: I am not a finical advisory. I do earn a small commission if you choose to purchase any of the recommended products below. Please make sure that you do your research before you purchase any Cryptocurrencies related products or services.


Crypto Currency Wallet & Coin Exchange

Coinbase is one of the worlds leading cryptocurrency wallets. It also gives people the option to purchase and trade digital currencies like that of Bitcoin, Bitcoin Cash, Ethereum Classic, Ethereum and Litecoin.

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Cryptocurrency Exchange

Binance is one of the worlds fastest growing cryptocurrency exchanges. Because of its trading volume and the number of altcoins it trades it will be one of the worlds biggest crypto exchanges in the world.

While Coinbase is still the easiest way to get into cryptocurrencies, Binance trades a lot more Altcoins compared to that of Coinbase. If you want to purchase Altcoins like Cardano ADA, Ripple XRP, Steller Lumens, TRON, Dash and Monero then Binance is your first port of call. 

In order to trade here, you must hold some cryptocurrencies first. So it's best to purchase some Ether or Litecoin from Coinbase and transfer it too Binance.

Click Here Watch A Tutorial Guide On How To Use Binance.



Cryptocurrency Hardware Wallets

One of the most popular Hardware Cryptocurrency wallets is that of

Ledger Nano S. The Ledger hardware wallet provides a secure offline solution for cryptocurrency traders to store their digital data. 

Commonly knowns private keys the Ledger hardware wallet gives users a multi cryptocurrency offline storage solution. Because of essential, these hardware wallets are similar to that of a USB key, it provides security by hosting the private keys offline making them difficult for hackers to access your cryptocurrencies.

It hosts some of the more common crypto coins but also some fewer know Altcoins Bitcoin Gold, Ark, Bitcoin, Bitcoin Cash, Digibyte, Dash Dogecoin and Ether.

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Digital Crypto Currency Wallet 

The Exodus Wallet is desktop cryptocurrency storage solution. It can be used with Mac and PC which has compatibility with a popular cryptocurrency exchange called Shapeshit. Which gives the user the ability to trade cryptocurrency with in the Exodus Wallet.  This feature alone makes the Exodus wallet a very popular choice with beginner crypto traders.

The interface is very intuitive making it very easy to understand and use for anyone that's starting out with investing in cryptocurrencies. The Exodus Wallet is one of the most popular lite wallets, even with a number of crypto storage assets, it doesn't require your system to download the complete blockchain.

While the Exodus Wallet is free to download and a very secure piece of software, please note that it does take between 1-3% fee with the exchange of cryptocurrencies. Click Here To Watch Walk Through Video On The Exodus Wallet.


Cryptocurrency Browser

The Brave Browser is just like most web browsers, it allows you to surf the web, find videos, websites and allows you to download content from the web. But with a few difference with it's set up compared to that of Google Chrome. It was set up by the same creators as that of Mozilla, basing their software on open source code similar to that of Google Chrome.

Brave has in built ad blocking technology to stop intrusive ads. It also integrates with the cryptocurrency Basic Attention Token {BAT} to pay users for their attention for displaying less intrusive ads.

Brave keeps 15% of the less intrusive ads, giving content publishers 55% per cent which is good for bloggers and vloggers, last but not lease even users of the Brave browser will receive 15% off the revenue. It also gives users the option to donate BAT to content creators or sites they love.

One of the striking features of the Brave Browsers is that it removes a ton of tracking pixels which cause websites to load slower. This gives you a much faster experience when visiting websites online


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