I've been contemplating about Monero's place in society. If Bitcoin is (debatable) "Digital Gold" then Monero is a non-custodial Digital Offshore Bank Account.
There has never been a point in history when there's been a means to hide your wealth perfectly. The possiblities are endless (i've also drank too much coffee this morning). It is a way to break free from the chains of debt.
Struggling to pay off your medical debt? Hide all your money in Monero, tell the banks to screw themselves, declare bankruptcy, and rebuild your credit score after the dust settles. Too much student loan debt and afraid they'll come after your money after you default? Hide your money in Monero and tell those vultures in Sally Mae to fuck off. (I skipped a couple steps and important details here and there)
Credit card debt? Chapter 7 their asses and they can't touch your money when it's protected by ring signatures lmao get fucked.
Of course, you still have to protect your assets such as your house. I haven't tried these strategies out yet, as I still haven't been forced to the brink with my finances. But when the time comes, instead of waiting for the government to implement more robust social safety nets, Monero can protect the wealth I have rightfully earned through my labor.
Personally, my father is getting crushed by credit card debt. I think he's paid more interest than the principal amount to those lowlife banker scumbags. Fortunately he's able to survive, but he could be in a better place.
Any other scenarios where people can adopt an adversarial strategy against the system? More ways out for people suffering as an economic debt slave? I would like to see a "guide" for this too, a way to more perfectly say fuck you to debt collectors.
Fraud ceases to be a concept if we want to operate outside of the system; the values that exist in this space are pure values of ethics. Right and wrong. Fraud is a way for the system to label actions that it wouldn't like or is damaging to the system.
But sure. Legally you're correct, hiding assets when filing for bankruptcy is fraud. But is it fair? Is it fair for credit card companies to charge 25% APY? 4 or more years of paying the minimum amount, or close to the minimum amount, which is what some people can only afford, then the interest increases as much as the principal amount of the debt! This is textbook usury. I personally think it's debt slavery but some people disagree using that term in this case, which I acknowledge.
Some people rack up debt all the time, from spending 6 months off work to take care of a loved one, incurring a personal injury that takes someone off work, accidents that cost tens of thousands of dollars to recover from. Should they then be consigned to this financial debt system now?
Fraud or not, I value Monero because it allows us to have tools to operate in ways the system doesn't like us to operate for our benefit.
I am certainly not advocating to use these strategies for personal gain. But when it's a matter of survival and escaping the cycle of debt, there is valuable information in knowing the ins and outs of the system and general legal recommendations so people escape their situations with their wealth still intact.