Most people in the UK can’t help but spend over £2,000 per month on council tax, rent/mortgage, food, energy & travel, leaving very little from the median £2,334 per month salary* and it’s not just the UK.
Intensely close examination of wafer-thin margins between cards is natural and a new entrant must beat current offerings, but close-ups of the wafer can obscure the bigger picture of the host itself.
It looks as if, with the improved percentages on the refreshed VDC, combined with Metalback and rising yields paid in gold, Kinesis is already the best option, with the prospect of racing away with the lead in the future.
Equally important is whether your existing bank will survive the next ‘completely unforeseen’ financial meltdown; you know, the ones that happen every ten years or so.
My bet, which is the amount I’ve invested and will commit in the future, is that Kinesis is far more likely to survive, indeed prosper, in the next emergency because:
1)Kinesis is based on sound money, automatically giving it far more stable foundations. It is not based on fractional reserve banking that is bound to fail;
2)Kinesis is geographically dispersed, which adds a huge regulatory effort, but makes it less subject to the whims of a single jurisdiction;
3)Kinesis is on the bleeding edge of blockchain-based, fintech innovation, with a recent indication that it holds some patents in the space. Intellectual property is key in establishing companies’ valuations;
4)Despite this leading role, it continues to pay monthly yields in physical gold and silver;
5)Companies that don’t innovate simply die. Shelf life is contracting generally as different technologies feed off each other via instant communication. What real imnovation has TradFi itself chosen to introduce in the last ten years, rather than being forced to copy others? Closing branches doesn’t count;
6)Kinesis is based on the two precious metals without which modern life ceases to exist;
7)The management team continue to prove that it’s not the usual ‘sell-their-and-your-grandma’ types;
8)The aim is a fair-for-all monetary system, based on shared benefits, which is the opposite of the slow and deliberate mass immiseration currently deployed.
None of my current banking arrangements satisy all the above criteria. The Co-op account, a relic of student times that I’ve never changed, comes closest with its community ethos, but it’s fiat based, UK only and doesn’t pay yields. We just accept these aspects until genuine challengers appear.
Kinesis will increasingly be able to provide trusted returns of, as well as returns on, investments, with minimum risk; Lehmann, CSFB and many others cannot.
Those were two of the biggest financial institutions, employing the smartest people (with cost bases to match), on the planet.
What other zombie banks are stumbling toward that cliff with our cash? When others fail, someone will have to provide a trusted, working monetary system.
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We spoke to financial experts about how to ask for more money
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