Nothing is what it seems. For most people the commandment ‘Don’t steal’ is the seventh commandment. Yet all you need to do is to look into the Book of Exodus to see, which commandment it really was. We are functioning in a reality where a conviction shared by most is enough to take something for a fact. Not many, however, will explore to find the truth.
While preparing for the latest ‘Quarter with Kanga’ we realize how deeply we are being deceived. Take the Civil Development Forum (Forum Obywatelskiego Rozwoju) which was created by Leszek Balcerowicz issued the following statement: ‘From the moment Adam Glapiński took office as the President of the National Bank of Poland (NBP) an average Polish citizen who deposited a 1,000 PLN at a bank lost 402.56 PLN (i.e. 100.12 PLN annually), once inflation and capital gains tax are considered.’
Then again as soon as in April Mateusz Morawiecki and Adam Glapiński announced a deflation (the presidential elections were held in June 2020). That means that if on 21st June 2016 (when Adam Glapiński became the President of NBP) you put away 10,000 PLN into your socks for safekeeping, today their purchasing power equals 5,974.40 PLN (from 21st June 2016).
Let us prepare a simple calculation. If you had decided then to go against the recommendations of NBP, KNF and the Ministry of Finance and if you had taken the extreme risk of buying a Bitcoin with that money, you would have had in your wallet today BTCs worth 158,409.16 PLN… Forgive me for I have forgotten the Belka tax… You would have 120,211.42 PLN.
Of course you did not have to keep your 10,000 PLN in your socks. You could have invested it in safe bonds. Yet under no circumstances (for getback’s sake!) could you have invested in cryptocurrencies. Here at Kanga Exchange we know how to calculate and we are convinced that the state officials can also do that. We do not need to convince anyone to anything here. So what we are left with is the moral aspect. What principles do the governement authorities, who oversee and watch over our wallets, follow? We do not really know, however, we do feel someone was not only miseead, but also robbed by someone else. Therefore what we can do is sigh and recall the old and forgotten commandment – the eighth commandment – ‘Do not steal!’