For the first time in the history of mankind, there are more people over 65 than under five.
For the first time in history, interest rates are zero or negative.
And finally, we are at levels never seen of public, corporate and personal debt.
It has been estimated that the deficit of pension systems in the world's largest economies (Australia, Canada, China , India, Japan , the Netherlands, the United Kingdom and the United States ) is triggered at $ 400 trillion by the year 2050. ( Data according to the WEF World Economic Forum )
Money that must be printed by the large central banks aggravating the problem they are already trying to solve, since pension funds need at least an average return of 8% per year to be viable, when in reality we have zero interest rates or negative
In addition, we must take into account that at least 2 billion new pensioners will retire in the next decade. All these convergences, added to the replacement of millions of jobs by AI (Artificial Intelligence) and the slowdown in the world economy, speak for themselves. In conclusion, we cannot expect to have a solvent pension system in the future without resorting to large deficits or creation of artificial money.
In the graph we see the evolution of the change of the population of working age in the OECD member countries (Organization for Economic Cooperation and Development) The average fall of the population of working age will vary from 10% to 40% in The next decades.
The solution to these problems will not come from centralized authorities with the monopoly of the issuance of money, the answer comes from each person becoming their own central bank and this is achieved through the use of Bitcoin and hard assets such as Gold.
The BTC cannot be issued and hence its attractiveness for saving, since its scarcity, fungibility and resistance to the passage of time must be the properties that all good money needs to have.
Gold is the best complement for any savings we make in Bitcoin, since it shares the same qualities as the BTC, but its price is more stable over time.
I share Tim Draper's opinion that new generations must start what I call a micro savings in Bitcoin and Gold, buying small weekly or monthly amounts to secure their financial future in an increasingly uncertain world.
The views, thoughts and opinions expressed here are only those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.