Insane Story of How Credit Cards Enslaved Everyday Americans. How credit card controls your world.

Many people need debt to finish school, debt for daily purchases, debt to get to and from work and more debt to afford a roof over their heads. Debt is so embedded into our culture and the way we thinking and feel about everything… that it is surprising that very few people know very little about the history of credit cards. The story of how credit cards came to be is fascinating and filled with stories within stories. There is competition, innovation, marketing lessons, how consumer protections were influenced and much much more. Many companies including Western Union, Diners Club, Citibank, Chase and Bank of America played a key role in creating the modern day credit card system that we use today. But the people and laws that made it possible are often forgotten. People such as John Biggins, Frank X. McNamara, Joseph P. Williams, Clark Beise, Duncan A. MacDonald and many more. The effects of credit card debt is well documented what isn’t is how it all ties in together and that is what we will learn today.

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Chapters:

0:00 – Ground Zero

1:20 – Competition Heating Up

4:53 – How The Law Made It Possible for Credit Cards to Enslave You

6:14 – Low Hanging Fruit

8:00 – So Who’s Fault Is It?

***Below has been added on February 15th, 2023***

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Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post Insane Story of How Credit Cards Enslaved Everyday Americans. How credit card controls your world. appeared first on Freedom Chasing Media.

Intro

Who said the first 100k is a b*tch? That man is Charlie Munger. Vice Chairman of Berkshire Hathaway with a current net worth of 2.2 billion. He’s been Warren Buffet’s right hand man since 1978 and in the 90s at a shareholder meeting a young man approached Charlie and started complaining about how hard it is to start building wealth and was frustrated at how slow the process was for him. Charlie told the young man, “well listen here”; okay, he didn’t actually say it like that but what he did say was,

“The first $100,000 is a b*tch, but you gotta do it. I don’t care what you have to do—if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000.00. After that you can ease off on the gas a little bit.”

This quote quickly became famous around the finance industry and is the bedrock of our conversation today.

Clarity

The first step to achieving your first 100k is to be really clear about why accumulating wealth is important to you. Without this level of clarity it will remain a wish and a dream. Hitting the 100k milestone needs to become the priority over things that take money away from you. If you’re stressing about paying bills, dread looking at the balance in your bank account, instantly regret the vacation you just took after paying the credit card bill and feel like you are behind in life then it’s time to stop playing games. Our economy and the money we use in it is a game that you play whether you are playing to win or not.

Understanding Where Your Money Flows To

The way you acknowledge the importance of this goal is by understanding where your money is flowing to. The money flows to things you are attached to. Things that you value even if you never looked at it that way.

For example it may sound weird to say you value something like sushi. But if sushi is the thing that is taking money out of your pocket and you are struggling to save the amount of money you need to hit your goal then it’s got to go. That’s how petty you have to be about all your little expenses. That’s what makes this process so hard.

When it comes to more necessary expenses like having a roof over your head and you live in a downtown high rise apartment with a view yet you don’t have 100k in the bank plus money invested all your doing is handing over your money to big companies and the rich people that own them all while guaranteeing you remain a wage slave forever. No amount of compliments or the feeling the view gives you is worth the time it took for you to make that money.

If you sit back and think about it… most people have so many hands reaching into their pockets taking money away from them while only have one source of income to fund it all. How silly is that?

***This video is the first video that I can genuinely say that I’m happy how it turned out from an editing perspective! It took me a while to do but I’m finally getting the hang of it! As of 2/15/23 its sitting at 6.4k views so I think the audience is noticing it too!***

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***Below has been added on February 15th, 2023***

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Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post Here is Why the FIRST $100,000 is the Hardest on Your Path to Financial Freedom appeared first on Freedom Chasing Media.

Intro

Crypto has been getting absolutely hammered lately.

If you even remotely know what’s going on.

You’ve no doubt seen Terra Luna get demolished and token holders get recked. When these events occur it gives people like Warren Buffet and Peter Schiff reason to say that Bitcoin and Crypto is rat poison squared or that it’s going to zero.

Lets these events and advice from traditional notable figures be a reminder that the crypto industry is the Wild West of finance. Some say it’s revolutionary. Some say it’s an elaborate ponzi scheme and that’s exactly where we will start.

Flaw #1: Bitcoin is a Ponzi scheme

Bitcoin is a Ponzi scheme. Yup I said it. A Ponzi scheme in its simplest form is when the price of something usually a stock but it can be anything that you can buy into, that goes up in value because more and more people buy it after you. The earlier you are, the more your initial investment goes up. And in order for your initial investment to keep going up you need more and more suckers to buy into it. If there are no more suckers, I mean buyers than usually the price collapses. In order to profit from the Ponzi scheme you need enough people to have enough money in it so you can pull your initial investment out plus your profit. Now you might be thinking that cruel and evil. So why would someone do that? Cause humans are, have always been and will always be greedy.

Now make no mistake about it what we just described can literally apply to everything including our entire economy and nearly every asset class in it.

Okay point proven I hope. Everything is a Ponzi scheme and another way to look at a Ponzi scheme is a confidence game. Which brings us to the 2nd flaw.

Flaw #2: Bitcoin is too volatile

This is a perfect example of when something that most people would agree is a strength (the price going up) can also be a weakness. There is 2 directions to volatility up and down. So let’s talk about the downside of Bitcoin’s value going up.

When something you buy for example this baseball card is bought because you think the value might rise you are more likely to not sell it for something that will go down in value. Why? Because you aren’t willing to trade it until you’ve experienced the upside from owning it. Now let’s say the player on that card has an amazing rookie year. So you think what the heck I’ll keep it. He’s probably going to have a great 2nd year. By now your getting offers from people wanting to buy it. But you politely decline why cause your greedy. You want more of the upside. You didn’t take a chance on buying this baseball card to make pennies you’re thinking at least 6 figures.

Now let’s say that the baseball player is starting their 3rd year in a slump. He acts out and gets a dui or gets caught using performance enhancing drugs you know, things that typical rising stars get accused of. The media slaughters his reputation and the public opinion of him takes a huge hit. And faster than you can say “I’ll sell” the value now reflects the new reality. This is the power of the free market. It can punish you just as fast as it can reward you. Sometimes even faster.

Now Bitcoin and Crypto like the baseball card answer to the free market. And the free market reacts rationally most of the time (sarcastically). Basically it just takes a few news stories, a few leaks or rumors or even an investigation and because people are greedy they will quickly try to cash out to protect what they have gained. Can you really blame them?

Now this whole time Flaw number 3 has been staring you right in your face.

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***Below has been added on February 15th, 2023***

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Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post 7 Flaws Of Bitcoin That You Need To Know appeared first on Freedom Chasing Media.

Where does Bitcoin gets its value from? The answer is: it gets it from you and me. There is no government or individual that places an artificial value on it. Bitcoins value is as organic as it gets. Because of this it has the potential to be a life raft for many peoples diminishing purchasing power problem.

Regardless of how you feel about Putin or Zelenskyy… Imagine being a Russian or Ukraine citizen. You probably didn’t ask for this war. You probably didn’t have a say on what happens next. But because a handful of people decided to fight your country got sanctioned hard or worst literally leveled. Remember there is always someone, another human, just like you, on the other side of that border. That other you is now suffering in ways hopefully you never have to experience.

The effects of this from a money standpoint is this: every piece of money they worked hard to make became worthless practically overnight. The money in their bank accounts is inaccessible because the banks are offline and closed. Even if they did somehow manage to access it, their life savings is not worth the paper it’s printed on.

Now Bitcoin is not perfect because perfect does not exist. Never has, never will. And if you want to be notified of when my disadvantages of bitcoin video comes out, then make sure to subscribe if you haven’t done so already.

Bitcoin is what we call a deflationary asset. Not necessarily because of its price compared to the US dollar or any other fiat currency meaning currency backed by the government even though it has preformed that way over the long term. It’s deflationary because the rate of new supply being minted or as it’s said in the world of crypto “mined” decreases over time.

If you’ve watched this video over here you know that there will only ever be 21 million Bitcoins. What you may not know is that the rate of supply decreases over time. I’ll explain what I mean by that in just a minute but first let me say that not having Bitcoin is a bigger risk to your financial well-being than having it.

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***Below has been added on February 15th, 2023***

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Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post FED vs Bitcoin: Can The FED Continue To Disrupt Crypto? appeared first on Freedom Chasing Media.

Inflation is personal. You may not see it that way now but you will after this video.

The CPI is a lie. It’s deceptive and you are being fooled. The talking heads (media), the people we look to for an economic outlook, and the powers that be (politicians, federal reserve chairman) want us to believe that the cost of living is supposed to go up and that this is just the way the world works.

We never stop to ask ourselves why.

They want us to stay busy doing one thing after another.  Running from point A to point B. So consumed with what’s in front of us that we don’t ever quite see the bigger picture.

You and me, We all know something’s off, something has fundamentally changed. If you’re like me living in the city you know exactly what I mean. But if you don’t; let me tell you: walking down the street or going through the city’s public transit, the unease feeling that things are out of sync is hard to deny.

Everyday, I see hard working people that can’t help but doze off from a long day after work or bury themselves in their phones looking for that quick escape.

How many of these people do you think feel like their future is filled with ambition, inspiration and hope?

The feeling and sentiment around us can serve as a leading indicator to where we are heading on a fundamental level.

As a whole, everyone is getting programmed to think more short term just think about it.

I believe for most people life beats you down into being content with the way things are. You stop being curious, you stop seeking new ideas, and you stop pursuing the things that make you feel alive. It’s easier to just consume everything from junk food to binging Netflix shows to scrolling through meaningless social media posts to fill that empty space. You hate thinking about the past because with every passing year when it comes to the things that indicate progress you are falling further and further behind and you think this is just the way it’s always going to be.

Trying to avoid this pain you turn to what you already have, family if your fortunate. Material possession you already possess. Experiences you’ve already experienced. But you are only fooling yourself because deep down inside when everything is quiet you know that you are but a mere unfortunate event from all these things just being what they are, a memory.

Our current path is a mathematical certainty that things you want and need will become harder and harder to obtain.

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***Below has been added on February 15th, 2023***

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Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post How Inflation Impacts You appeared first on Freedom Chasing Media.

You may not have given a flying f*** about Bitcoin so far. 

You might even be completely clueless about the financial revolution or evolution that is going on. 

But somehow, someway you stumbled onto this video. 

Maybe it was the hard work and countless hours that went into making the thumbnail that captured your curiosity and pulled you in. 

But let’s appreciate this moment where you let your guard down and choose this video over them damn cat videos. 

Let’s say my thumbnail put you in a momentary involuntary state of mind where you envisioned everything you cared about, 

and the cost of everything you wished you could buy, every experience you wished you could cherish, 

was somehow slowly but noticeably escaping away. 

You become more motivated than ever to find ways to make and keep your hard earned money and take back control of your life. 

You see all around you… in your circle… 

in your socials… 

in the news, 

people all over the world are quitting their jobs in record numbers. 

They are all in pursuit of taking back control of their life and redefining the things they value. 

They are reassessing the value of their time and they are taking action and doing something about it. 

They are chasing more meaningful work or trying to find a job that will pay them what they are really worth. 

Why? 

Could it be that they have come to the realization that you can’t outpace the speed of ever increasing costs. 

What if you… running around, 

working hard, 

staying focused on the grind, 

made you think and feel like you’ve been making progress but in reality you are in the exact same place. 

When some people have this realization they fall into depression. 

They feel lost and overwhelmed. 

Unsatisfied with themselves, they take it out on everyone around them. 

They become deeply pessimistic and ultimately blame everyone and everything for their situation. 

Some attempt to mask this feeling by drinking it away even if they don’t realize it. 

This behavior disables them from doing something about it.  

If they’re lucky, hopefully they will run into someone or something that tells them just what they needed to hear. 

Hopefully this video is that thing for you. 

You haven’t cared about Bitcoin or stocks. 

You just wake up everyday, go through the same morning routine, to go to the same job, to do the same thing, over and over again. 

Trading time for money,… 

you think you are getting a fair deal and you start to settle. 

You start saying things like money isn’t everything.

Yet everything you do in life revolves around the job. 

You basically are living for the weekend. 

Five days a week for the freedom of two and that’s if you’re lucky. 

The older you get the more shortsighted your decisions become. 

You begin to lose your reasons to invest in the future. 

But could it be this feeling was caused by design? 

The rules of money have changed. 

But thinking differently than you have and changing small actions can get you caught up. 

I want to change the way you think about Bitcoin. 

Is it the end all be all? 

No. It’s not. 

But after hearing just one part of my compelling case I believe you will look at Bitcoin differently. 

Today we will focus on the main reasons why Bitcoin makes sense. 

This video is part 1 of a Bitcoin series that non-Bitcoin, non-crypto people around me have been asking for. 

And you, my subscriber who is part of this freedom chasing movement, 

gets an inside look into how I use math that everyone and anyone can understand to build a case as to why you are early. 

Welcome to the Freedom Chasing Youtube Channel where we help people just like you think, learn & live freely.

While you may not be an extremely early first adopter of blockchain technology and the first use case which is Bitcoin, 

take a step back and ask yourself 

how many people in your neighborhood own 1 full bitcoin?

Just come up with an honest guess. 

I’m willing to bet that the number is not that big. 

Now zoom out a little further how many people in your town or city that you know or have met can you guess own a full Bitcoin. 

Compare that number to the rest of the population in your state. 

Now in your country. 

Think about the fact that most Americans can’t afford a five hundred dollar unexpected expense. 

While it’s almost impossible for you to accurately guess how many people in our population own a full bitcoin, this question forces you to ask: 

Are you still early?

What compels certain types of people to adopt it right away after hearing someone talk about it just once versus people who need to keep hearing about it to finally adopt it is an interesting phenomenon. 

I know high achievers, you know them go-getters, who are ambitious and are so smart, who to this day have deferred their interest to a later day. 

I also know other high achievers who got it right away and said show me how. 

I know people who aren’t the sharpest tools in the shed who got it right away and those who were equally as smart continue to not know what the heck is going on. 

The point is it’s not a measure of intelligence that compels someone to see where things are to where they may be going. 

Sometimes they just haven’t heard a captivating enough case that speaks to them in a way that creates action. 

There will only ever be 21 million bitcoins in existence. 

It’s hard coded into the protocol so it’s nearly impossible to change that.  

Think the opposite of the money printer. 

It is estimated that we will reach this number by the year 2140. 

We can go into how this works another time but the important thing to know is that there will only ever be 21 million Bitcoins. 

There are just under 22 million millionaires in the US as of Jan 2022. 

So this means there isn’t enough Bitcoin for every millionaire in the US to own just one. 

If that has not sunk in let me give you some more stats for your ass. <Coach Carter> 

22 million millionaires only makes up roughly 9% of the 250 million adult population in the US. 

Bitcoin is not only open for millionaires it’s open to everyone. 

So we could end up having roughly 229 million adults that could begin to adopt Bitcoin in a serious way in the very near future. 

Bitcoin is not only an asset for Americans. 

The US may rank #1 with the most millionaires for now but there are roughly 62 million millionaires throughout the world. 

There isn’t even enough Bitcoin for every millionaire to own even half a Bitcoin. 

My logic based in math is profoundly simple: 

If there are 62 million millionaires in the world with money to invest then the price of Bitcoin will go up significantly from where it is at today, based on this fact alone. 

And I should probably squeeze in there, I’m not a registered financial adviser and this information is strictly for educational and entertainment purposes only. 

Get it. Got it. 

Good. Capitch. 

The current world population is 7.954 billion people but that huge number actually doesn’t carry as much weight from a purchasing power perspective 

when compared to the 2,755 billionaires in the world today. 

So now that we thoroughly looked at the data hopefully this is eye opening to just how early you still are. 

Meeting people who own are whole coiners will become increasingly rare. 

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***Below has been added on February 15th, 2023***

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Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post The most SIMPLE… most CONVINCING REASON… to BUY Bitcoin NOW! appeared first on Freedom Chasing Media.

Today, we are discussing Bitcoin and whether it should be playing an important role in your pursuit of financial freedom. There are so many directions we could take to prove this point. We can be philosophical like Michael Saylor, the CEO of MicroStrategies or we can talk simply and back it with some facts. Both of which are important but when you are just getting started it’s best to keep it simple and think of the statement from a practical perspective.

The goal of this blog post is to answer the question: Why is Bitcoin important to your financial freedom in a way that anyone can not only understand but also create an informed opinion and then take action. After all, anyone that stumbles onto this website is looking for and actively seeking freedom. 

You must understand how our current monetary system works. In future posts, we’ll tackle this subject from different lenses so if you’re interested in gaining the knowledge you need, make sure to sign up for email notifications or check out our Youtube channel. 

Our current monetary system or money is driven by trust and confidence. Our money (USD or any other government issued currency) is called fiat currency which means it’s backed by the authority of the government that issued it. That in itself isn’t a bad thing. After all, the government has a lot of power so why wouldn’t we want the value of our money backed by it. It has a military and it establishes laws and regulations that a majority of people abide by. 

For all the flaws of government, it is still made up of people who are elected by the people in one way or another. An argument can be made if it’s fair or not but for the most part, your average person would say, this system has built the standard of living we have all become accustomed to and it does offer a significantly better quality of life than in the past.

Imagine farming vs just walking down to your local grocery store. Imagine a life with no energy on-demand to wash your clothes, or the ability to be comfortable in an air conditioned room on a hot summer day or to be nice, warm and cozy on those cold winter nights. We live in a world where all we have to do is simply log in with our phone, our utility bill. 

If your fiat money is accepted for payment then it works and every day that it works you trust that it will work the next time and the time after that. With that said, we can agree that money backed by the government does instill confidence and trust that you, even today, can walk down to the store and buy and pay for the items you need. 

So to recap, the current money in your pocket or in your bank account works good enough to buy items you need and want. It is backed by your government in which you should feel a civic duty to participate in and so far it has withstood the test of time. These factors among others instill confidence and trust in the money we currently use today. 

I wish that was the end of the story but sadly it’s not. Money hasn’t evolved for the better, for the majority of people, like most things around us have. Instinctively, we know there is a really big flaw in our system but due to the size of the flaw it’s easy to write it off as a necessary bug in our money system. Every generation before you thinks the flaw won’t affect them. The flaw becomes increasingly apparent by asking a simple question… where does the money come from? 

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***Below has been added on February 15th, 2023***

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For as little as $5 per month you will gain access to all of our scripts, ability to participate (deciding on thumbnails & topics), 100% response rate when you want to communicate with me directly. This money goes to paying editors and other team members and is greatly appreciated as the videos after 7/29/22 have become very time and resource intensive.

Thank you for your support it really is appreciate it!!! To your Freedom Chasing success… see you in the next video!

The post Is Bitcoin Still Important To Your Financial Freedom? appeared first on Freedom Chasing Media.