How is the Sats Crew Doing Today?
We need to take a step back and appreciate that in the U.S. we have a decent amount of consumer protections and some cybersecurity protections.
In many places around the world, they have none of that. If you are cleared out - you are cleared out. I think in our lives, we need to attempt to take self-custody of our gold, silver or bitcoin.
In the end, we need to look out for ourselves. We can't lean on any "trusted" third party or stuff like this happens. In this podcast, I go over the story of what happened, specifically:
- A Balinese woman who is a cleaner was cleared out $2,340
- In the U.S. we have financial privilege so we don’t see this, but in other parts of the world there aren’t protections
- Largest bank in Indonesia Bank Rakyat
- Scammers here and across the world can take your money in a minute even if you work years for it
- The bank doesn’t accept responsibility even though they were the ones who lost it
- Bitcoin pros and why the third world needs to move onto bitcoin
I hope you all enjoyed this quick one! I think the key reminder here is to try and take self-custody to protect yourself because in the end bankers, bureaucrats, and politicians do not have our back.
Best Regards,
SatsMate
Article On Women Cleared Out of Everything in Indonesia: https://www.aljazeera.com/economy/2024/4/5/at-indonesias-biggest-bank-customers-life-savings-vanish-with-a-click
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
Bitcoin, Financial Education, Federal Reserve, Gold Prices, Silver Prices, Bitcoin Prices, Macroeconomics, Financial Literacy, Debt Management, Personal Finance
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