"You are looking at a live picture of Lehman Brothers' 158-year-old firm - born pre-industrial revolution and surviving the Great Depression...", a CNBC special report began on September 14, 2008.
"Lehman Brothers will file for bankruptcy this evening under circumstances that, without the government's assistance, sources tell us would almost certainly result in significant market disruption."
I trust you remember what happened next.
The credit market's liquidity evaporated. The S&P was cut in half. 30 million jobs were shed. U.S. households lost $16 trillion worth of financial wealth. More than one million homes were lost in foreclosure.
Fear and panic spread. Some said the stock market was going to zero. Some said this was the end of capitalism. Others said it was the end of human civilization.
The U.S. government rushed in with a $700 billion bail-out package for banks it deemed "too big to fail". With the stroke of a pen, taxpayers were on the hook for Wall Street's reckless behavior.
In this environment, a curious message appears on an obscure mailing list dedicated to the study of cryptography. The date was November 1, 2008. The author was Satoshi Nakamoto: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party...
Bitcoin was born. It rose from the ashes of the worst financial crisis since the Great Depression.
But what is Bitcoin?
Why is it here?
What is it's purpose?
How do you use it?
Where is it going?
Is it a good investment?
Will it catch on?
This course will answer all of these questions and more!
Friends, Bitcoin is changing the world... forever. There will be no going back. Now is the time to learn everything you need to know to get involved while Bitcoin is still in its infancy.
Joe Withrow is a Bitcoin miner who has been involved in the ecosystem since 2014. He is on record saying that he never before felt like Bitcoin was ready to take the next step in mass-adoption... until 2017.
The Bitcoin moment is here. Let Joe tell you everything you need to know to participate in the most explosive disruptive technology since the internet... and perhaps ever. The time is now!
Joe Withrow is just an average, hardworking American who did everything by the ‘American Dream’ handbook.
He took advanced classes in a public high school and graduated with good grades. He then went on to earn a finance degree from a public university.
Upon graduation, Joe moved to a metropolitan city and played the corporate game, working for two different mega banks and earning several minor promotions/pay raises/bonuses for his efforts.
Joe bought a starter home, met his wife, and settled down to live the American Dream – just as he had been “educated” to do. He contributed the match rate to his 401(k) and he maxed out his contributions to a traditional IRA – just as he had been “educated” to do.
Joe was doing everything the “right” way and a storybook life appeared to be unfolding before him.
But then something strange happened.
Joe started to see that the rat-race had no light at the end of the tunnel and no rewards worth reaping.
He began to realize that the ‘American Dream’ was at best a myth and at worst a means of control. He began to see how the monetary system itself worked against him. He began to realize that his annual wage increases could not possibly keep up with inflation over the long term and therefore he was stuck on a perpetual tread-mill despite doing everything the right way. He began to realize that the stock market could not possibly go up exponentially forever no matter how many talking heads swore up and down that it would.
So Joe started to do a lot of independent research and he started to do a lot of introspective examination. He quickly came to the realization that he had to build a more self-reliant lifestyle if he wanted to have a chance to create a Mindful life for himself and his family. So Joe made the decision to seek financial freedom. Over a period of time, Joe was able to eliminate debt and needless spending and redirect his income to a carefully constructed asset allocation model. This enabled him to end his career in corporate America and spend his time pursuing entrepreneurial projects of interest.