What is Financial Inclusion?

February 20, 2021

What is Financial Inclusion

Public schools keep getting worse. A country full of idiots is useful when government agencies such as the Federal Reserve want to imprison the people but can’t say it out loud.

Monetary Policy Matters

For example, let’s say I earn $20/hour and buy a burrito for $8. The burrito costs 40% of what I earn in an hour. The following year, I still make $20/hour, but now the burrito costs $10. That’s 50% of what I earn in an hour. In 1950, the average income was $3,300. The average car cost $1,510, the average home cost $7,354 and annual tuition for college was about $600. In percentages:

  • Car to income: 45%
  • House to income: 222%
  • Tuition to income: 18%

In 2019, the average income was $68,700. The average car cost $36,700, the average home cost $380,000 and annual tuition was $25,600. In percentages:

  • Car to income: 53%
  • House to income: 553%
  • Tuition to income: 37%

The Federal Reserve’s monetary policy directly impacts the value of the dollar. As you can see, the value of the dollar has decreased significantly, and goods have increased in price. However, due to globalization among other factors — wages have not kept pace.

Related Reading: Income Tax is Unconstitutional

Printing Money Has Consequences

When the public doesn’t understand how money works, they don’t know who to blame. Again, this is by design and I suggest blaming Central Banks. In the 1940’s Germany printed too much money which led to hyperinflation, which left millions of Germans on the brink of starvation, trading bread for eggs. Today we can see this in Venezuela. The government destroyed their currency and even prohibited its citizens from exchanging it for another currency. To avoid starvation like the Germans, Venezuelans adopted cryptocurrency.

In America, our Federal Reserve is eroding the value of the dollar which risks its place as world’s reserve currency. The consequences are unknown but undoubtedly dire.

Related Reading: The Pros and Cons of Index Funds

Fiat Money is Not Scarce

In order for any currency to work, it must be scarce. For example, early humans used stones, silk, bushels of wheat, and gold as their currency. Gold as currency stuck and people could exchange a euro, pound, dollar or peso for gold at any bank around the world. In 1971, however, President Nixon got rid of gold as a currency and introduced fiat currency, which meant the paper money had no underlying scare asset.

The extreme wealth inequality you see around the world is due to President Nixon’s decision. Anytime the Federal Reserve (global elite) want to print more money and enrich themselves, they can with a click of a button. To anyone paying attention, this is a crime and it is inevitable that the dollar empire will fall and a scarce currency will replace it. The answer as of today is cryptocurrency.

Related Reading: Corporate Accountability is Over

Financial Inclusion is Cutting Out Middlemen

A friend of mine lives in London and I recently loaned her $1,500. Can you believe it took seven days to hit her bank account and I had to pay $45 in wire fees? There is a massive financial services ecosystem that doesn’t want to give up their control: Security software, processing agents, international regulations, currency exchanges, compliance teams, remittance guidelines, etc., etc. etc.

In contrast, cryptocurrency has slashed wire/transfer fees and eliminated all middlemen. The creator of Bitcoin — Satoshi Nakamoto — wrote a whitepaper describing cryptocurrency as peer-to-peer electronic cash that allows online payments to be sent directly from one party to another without going through financial middleman.

Related Reading: Cancel Student Debt. Now.

Cryptocurrency Paves Way for Financial Inclusion

Did you know that 55 million Americans are so poor they don’t have a bank account? Our political leaders know that a poor nation is an enslaved nation. However, in countries far worse off than America, cryptocurrency has liberated the people. For example, in Afghanistan women are not allowed to open a bank account. Afghan women fought back and got jobs at a company called Digital Citizen, that pays their employees in Bitcoin.

In Sub-Saharan Africa, the financial services middleman make it impossible and expensive for migrant workers to send money back home. And so, technology companies such as Bitpesa and Paxful liberated the workers using cryptocurrency and gave them back the power of their money. In 2016, the Indian government withdrew 86% of the nation’s currency from circulation. However, 40% of the population (about 233 million people) do not have a bank account and embraced cryptocurrency in the aftermath.


Related Reading: How to Be a Conscious Investor


Money buys freedom and as of now, our government controls the money supply which means less freedom for the people. A decentralized financial system that embraces technology and empowers the individual is what we need. That said, there are risks. For example, the Chinese government digitized its currency but given their communist history, will the currency be used to control or liberate the people? The upsides for using cryptocurrency still outweigh the downsides:

  • Transaction time
  • Transaction costs
  • Solution for the unbankables
  • No middleman “safeguarding” your assets
  • Safe and secure
  • Globalized money for a global world
  • Decentralized

Decentralization is the most important. The Federal Reserve is out of control and until we take back the power, by adapting cryptocurrency, the quality of life in America will decline faster than anyone can remember how it happened.