2022: the year of the big crisis

The scenario we will face in 2022 can be scary. But we in the 11Onze community are preparing for it. We talk to 11Onze’s chairman James Sène about national indebtedness, the possible collapse of the international financial system and superinflation. How will we get out of this? 2022 will be our touchstone.


The scenario in Europe is bleak. The European Central Bank (ECB) has been warning for months about the excess debt accumulated by traditional banks in declining energy companies. In a new episode of the podcast Ens Interessa, the president of 11Onze, James Sène, analyses the international economic context, in conversation with content director Toni Mata. And Sène is categorical: “If the ECB is so clear, things are much worse than they want us to believe. There are a series of geopolitical circumstances and a crisis in the international monetary and financial system that are causing the perfect storm.”

However, the economic consequences of all this, Sène warns, will not come overnight, but will accumulate, if we do not remedy them, until we reach a situation of collapse. This explains why, in practice, traditional banks are already in a situation of bankruptcy, but are still being sustained by the inertia of the ECB, which has not stopped printing money and offering pandemic aid. 

“The ECB has wanted to plug the hole so much that we have printed too many banknotes, and we are entering a phase of superinflation, with values of 7% to 10%. This means that the money saved is worth 10% less,” the president of 11Onze argues. On top of all this, there are stagnant financial structures. “And we are all paying the consequences: sky-high interest rates, fees for everything, reductions in customer service staff, a service that is getting worse and worse. It’s a death foretold,” Sène says.

The United States on the brink

On the other side of the Atlantic, things are no better. The United States is, as the president of 11Onze admits, in a very difficult situation. “With debt absolutely off the charts, inflation reported at 7.8% last quarter, this means it’s probably worse. The US economy now represents 24% of the world economy, the lowest percentage in its history,” he sums up. This is causing the dollar to lose more and more of its value and, in turn, the purchasing power of citizens.

“The consequences will be radical and very important for us, without a doubt. The United States will have to defend its economy, and the measures it takes are likely to leave many people in the lurch,” Sène argues. American debt is also the debt of Europe, Japan and other economies of the capitalist West.

Companies are often blamed for the crisis, but the reality is that it is the states that are bankrupt. They have no money, and they are increasing the fiscal pressure on citizens. This debt has been caused by their inability to manage everyone’s resources,” Sène says. And he exemplifies this with the pension system currently in force in Spain, which is close to bankruptcy. “Every year, the Mercer CFA Institute Global Pension Index rates the pensions of 43 countries and, in Europe, in 2021, Spain is third from the bottom. They calculate that pensions have a 28 out of 100 chance of lasting. We are paying more than we can afford,” Sène explains.

“The crisis is often blamed on companies, but it is the states that are bankrupt. This debt has been caused by their inability to manage everyone’s resources.”

Options for weathering the crisis

Let’s look for solutions. The crisis seems inevitable because there is too much accumulated debt. What can we do as citizens to avoid the impact of this crisis as much as possible? We need to educate ourselves financially and be able to manage our resources responsibly. “We have to start opening our eyes and learn how to manage our money. We cannot correct this global mistake, because it is in the hands of governments, but, individually, we have to try to generate value with the money we have, which is greater than the decrease produced by inflation or the CPI…,” the chairman of 11Onze defends.

And this, it is clear, cannot be done with savings in current accounts, without doing anything. “In Spain, 40% of people have their money saved in current accounts. We don’t understand what’s happening,” Sène warns. That’s why, above all, the money must be kept in financial institutions that protect their clients: in 11Onze, the money in the accounts is off the company’s balance sheet. Even if the depository financial institution were to go bankrupt, the clients’ money would not suffer. It cannot be touched, it is 100% guaranteed with no limit to the amount. “It’s like a safe, you can’t lose it in any way,” Sène says.

Secondly, savings should be kept in deposits that give a minimum return. And thirdly, a small part of these savings should be invested, without putting our assets at risk, whether in real estate, precious metals, cryptocurrencies or ETF packages. “That we can at least generate what we are losing. This year, for example, gold has returned 25%, and silver 70%,” he says. The idea is, at the very least, to correct the devaluation of salaries caused by inflation.

“It’s not about being a broker and reading twenty investment panels at the same time. That’s a nightmare. We have to look for products that we understand,” Sène encourages. In fact, 11Onze has set out to educate, in La Plaça and with its superapp, El Canut, so that anyone, whatever their age, can move their savings without running any risk. 

So: yes, all indicators point to 2022 being the year we will see one of the biggest economic crises in history. But we have the opportunity to prepare ourselves as a community to find ways around the bumps. At 11Onze, we are working to make it happen.


11Onze is becoming a phenomenon as the first Fintech community in Catalonia. Now, it releases the first version of El Canut, the super app of 11Onze, for Android and Apple. El Canut, the first universal account can be opened in Catalan territory.

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  1. Maria Ramon OliveMaria Ramon Olive says:

    Gracies per el conexement que ens trasmeteu. Molt encertat el comentari ùltim de la entrevista. Felicitats

    • Eve Doña says:

      Celebrem que t’agradi Maria! Aprenem de les vostres valoracions, ens veiem proxímament, més i millor, aqui a la Plaça. 💛

      2 years ago
  2. Pere Maria EstremPere Maria Estrem says:
    Pere Maria

    Com sempre, molt i molt didàctic i interessant.

    • Jennifer Roca Civit says:

      Moltes gràcies, Pere. Feliços que trobis interessant el que fem. Que tinguis molt bon cap de setmana!

      2 years ago
  3. Josep RosJosep Ros says:

    Veig que la crisi ja la tenim a sobre, no que vindrà, tema inflació, tema Estats en fallida(aquí ja fa temps) ,tema estats units que torna al pujar els tipus interès i poder després Europa. En definitiva, estem en un altre crisi financera. Amb el problema d,invertir en borsa,Etc, Críptos… És que necessites una plataforma més senzilla d,entendre, perquè amb tantes que hi han no saps amb certesa amb quina et queda. Per això la gent necessita bon assessorament per moure els estalvis

    • James SeneJames Sene says:

      Correcte Josep. Això ja va cap avall. Hem corregut el que no està escrit per do ar opcions com l’or físic. I Aviat posarem a l’abast més opcions assegurades. Seguim 🙏🏿

      2 years ago
  4. Francesc Estafanell PujolFrancesc Estafanell Pujol says:
    Francesc de Borja

    Seguim preparant-nos. Gràciesper l’ensenyament

    • Jordi CollJordi Coll says:

      A vosaltres per seguir-nos, i moltes gràcies pel teu comentari, Francesc!!!

      2 years ago
  5. Josep RuaixJosep Ruaix says:
  6. Cristian Palau BatistaCristian Palau Batista says:

    Gràcies James per guiar-nos una mica en aquesta situació dramàtica que s’acosta poc a poc.

    • James SeneJames Sene says:

      A tu Cristian per llegir-nos. Ha passat un mes i ja els diaris reconeixen que entrem en recessió. Això sembla que va encara més ràpid del que pensava.

      2 years ago
  7. Jordi FerréJordi Ferré says:

    Els grans empresaris (Club Bilderberg) volen que els estats facin fallida per governar ells el món. Nou ordre mundial.

    • James SeneJames Sene says:

      Ja saps la dita de qye en les crisis els rics es fan encara més rics, els pobres més pobres. 😓

      2 years ago
  8. Pere SorianoPere Soriano says:

    Molt contingut, molt pedagògic, molts canvis, ens hem de preparar. Gràcies per posar-ho a l’abast de tothom.

  9. Francesc Estafanell PujolFrancesc Estafanell Pujol says:
    Francesc de Borja

    Seguiré amb atenció els vostres consells que m’ajudaran a moure’m amb les finances. Gràcies

    • James SeneJames Sene says:

      Entre tots trobarem solucions Francesc. Tenim la sort de poder cercar bones opcions amb la força de ja 13.000 membres. És a dir que els descomptes que podem obtenir com a grup o avantatges són infinitament superiors als que qualsevol de nosaltres pugui obtenir sol. Aquesta és la clau de la comunitat.

      3 years ago
  10. Josep RosJosep Ros says:

    Posem fil a l’agulla. Que el diner cada vegada val menys actualment.

  11. Manuel Bullich BuenoManuel Bullich Bueno says:

    Efectivament venen temps convulsos i em d’estar preparats per capejar-los. Gràcies James pel post i donar-nos opcions per posar a treballar els nostres estalvis.

  12. Laura CarlúsLaura Carlús says:

    Nosaltres capejarem el temporal, d’altres es perdran en la tempesta perfecte

  13. Bernat Soler RocasalbasBernat Soler Rocasalbas says:

    Els metalls preciosos donen un bon rendiment … però a l’hora de vendre’ls (en cas que necessitis liquiditat), quins impostos cal pagar? perquè si hem de pagar un IVA del 20% (per dir alguna cosa) … molt rendiment han de donar perquè surti a compte. Tenim informació més detallada sobre això en algun lloc de la “nostra” web?

    • James SeneJames Sene says:

      Salut Bernat, Bon apunt.
      L’or per inversió no porta IVA. Altres metalls industrials sí. El tema de recompra no serà un problema. Donarem tota la informació en el seu moment.🙏🏿

      3 years ago
    • Toni MataToni Mata says:

      Preparem el tema, Bernat, gràcies per la proposta.

      3 years ago
  14. Joan Santacruz CarlúsJoan Santacruz Carlús says:

    Gràcies per l’explicació, James 😉

  15. Anna PortabalesAnna Portabales says:

    Gràcies, James!

  16. Maria Jaime LozanoMaria Jaime Lozano says:

    Moltes gràcies per dedicar part dels vostres esforços a l’educació financera dels ciutadans!

    • James SeneJames Sene says:

      No és mereixen Maria. És la feina a que ens hem compromés a fer per vosaltres. 🙏🏿

      3 years ago
  17. alicia Coiduras Charlesalicia Coiduras Charles says:

    Gràcies James un excelent anàlisi de la situació que malgrat es ben greu has tingut la capacitat,com sempre,de donar opcions per
    sortir-ne el millor possible
    Com bé dius, depen de nosaltres de saber gestionar els nostres diners,l’educació financera
    Desitjosa de que 11Onze presenti els nous productes
    Gràcies de nou 👍👏

  18. Joan CaparrósJoan Caparrós says:

    Totalment d’ acord James, cal formar-se financerament més que mai penso i entendre el món global en el que vivim, al final anyorarem la pesseta ja t’ ho dic jo… Amunt i felicitats pel post!

    • James SeneJames Sene says:

      Totalment d’acord Joan amb lo de la pesseta…però amb una miiiica de sort “les peles” seran sempre nostres!😉

      3 years ago
  19. Carme Dalmau PlanasCarme Dalmau Planas says:

    Moltes gràcies. Ho enviaré als meus coneguts i amics.

  20. Mercè ComasMercè Comas says:

    Un bany de realitat. El món el mouen els diners i en canvi no ens adonem que no en sabem gran cosa. Molt ben explicat, sense por de dir que l’estat ens dóna uns drets, dels quals ens en refiem a ulls clucs, sabent que no els podrà pagar. Gràcies per ajudar a trampejar la tormenta que ve

  21. Ricard Calvo VilanovaRicard Calvo Vilanova says:

    Molt ben explicat

  22. Josep RuaixJosep Ruaix says:

    Molt bona explicació James 👏👏👏👏

  23. Jordi FerréJordi Ferré says:

    Gràcies per tenir-nos al corrent. Així sabem com actuar.

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