The banking system putting pressure on consumers

  • It is best to maximize your assets in things of real value, like the property you live in and goods you use (like cars) that are free of bank debt;
  • Bullion is a good, long-term store of value. When monetary systems are shaky they go up. Silver is important to some modern industrial processes. It’s abundant, but usually lost after use;
  • It’s safer to have money in a small bank. They have fewer creditors to cover in a crisis with the $20 billion cap on the Government’s depositor guarantee scheme. The main benefit of money in the bank compared to alternatives is its predictability — so keep some there for emergencies;
  • Invest in the community. Support open-sourced mutual credit cryptocurrency on the Holochain. These people are on our side; and
  • Less is more. Stop hoarding. Stop speculating. I stopped twenty years ago and watched my peace of mind grow.

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Simon Cole

Simon Cole

Australian behavioural scientist, community/sustainability advocate, commentator and English language educator. Promoting the steady state.