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Scrooge McDuck and Money (Walt Disney, 1967)

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“Just how big your nest egg should be and how long it might last will depend not only on what you save and invest but also how you plan to spend money once you retire. Do you plan to work part time in retirement? Travel a lot? At what age do you plan to retire? Answers to all these questions will help you figure out how large a nest egg you may need to live the life you want in retirement. And don’t forget to factor in inflation and future market conditions.”

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“By making its services convenient for criminals, TD Bank became one,” U.S. Attorney General Merrick Garland said. “Today, TD Bank also became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, and the first U.S. bank in history to plead guilty to conspiracy to commit money laundering.”

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“One key distinction which Anderson highlights is how Paze does the work of building the wallet for the consumer. This means that on signing up, all the cards that a consumer uses that belong to Paze’s participating institutions are automatically loaded onto the wallet. After customers authenticate themselves and get access to the wallet, Paze also ‘pre-selects’ the cards it thinks are most relevant for the consumer based on their historical e-commerce behaviour.”

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Joe Rogan Experience #2190 – Peter Thiel

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Cryptocurrencies are often described as decentralized because the core infrastructure—such as blockchain technology—operates without a central authority. This means that transactions and the creation of new units of currency are managed by a distributed network of computers rather than a central entity like a government or bank.

However, when it comes to converting cryptocurrencies into traditional cash (fiat money) and transferring that money to a bank account, centralized entities typically become involved. These entities, such as cryptocurrency exchanges, facilitate the conversion process and ensure compliance with regulatory requirements. The involvement of these centralized exchanges can add points of centralization to the otherwise decentralized nature of cryptocurrencies.

Key points of centralization include:

1. Exchanges: Platforms like Coinbase, Binance, and Kraken act as intermediaries for buying and selling cryptocurrencies for fiat money.

2. Regulations: Banks and governments impose regulations (such as KYC—Know Your Customer—and AML—Anti-Money Laundering laws) that centralized exchanges must comply with, further adding layers of control and centralization.

3. Banking System: The traditional banking system is centralized, and when fiat money is involved, transactions must go through this system.

These factors create a hybrid situation where the core technology of cryptocurrencies remains decentralized, but practical use cases often necessitate interactions with centralized systems.

— Chat GPT

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In a society in which nearly everybody is dominated by somebody else’s mind or by a disembodied mind, it becomes increasingly difficult to learn the truth about the activities of governments and corporations, about the quality or value of products, or about the health of one’s own place and economy.

In such a society, also, our private economies will depend less and less upon the private ownership of real, usable property, and more and more upon property that is institutional and abstract, beyond individual control, such as money, insurance policies, certificates of deposit, stocks, and shares. And as our private economies become more abstract, the mutual, free helps and pleasures of family and community life will be supplanted by a kind of displaced or placeless citizenship and by commerce with impersonal and self-interested suppliers…

Thus, although we are not slaves in name, and cannot be carried to market and sold as somebody else’s legal chattels, we are free only within narrow limits. For all our talk about liberation and personal autonomy, there are few choices that we are free to make. What would be the point, for example, if a majority of our people decided to be self-employed?

The great enemy of freedom is the alignment of political power with wealth. This alignment destroys the commonwealth – that is, the natural wealth of localities and the local economies of household, neighborhood, and community – and so destroys democracy, of which the commonwealth is the foundation and practical means.

— Wendell Berry