Attorney, Litigator and constitutional conservative. Patriot and proud 2nd Amendment Supporter. Classical liberal from the philosophy of Jefferson and Locke
@bourscheid You don't because adding value to the world is rewarded. Taking value from individuals is uncivilized and a scapegoat for government blame. You fall for it everytime...even when it calls for Pogroms you have the Spirit of Cain.
@ClimateWarrior7 The single most effective civilizing feature of humanity is the ability to accumulate wealth. If you want to punish that concept you are living in the stone age. The next thing you will do is call for Pogroms.
@SantiagoAuFund This is the part that trips people up. It is the dollar auction game trap (prison). I think this thought experiment is a Lloyd Shapley idea with a twist. Since the easy money was debt based USD's the Eurodollar consumed it like a kid in a candy store.
The game of government is to exist. The world hegemon is always at war. War exists to impose a kinetic cost on the abstract power structure. The war the hegemon fights is to maintain its abstract power structure, which is the "law". Aligning your positions with the position of the hegemon can be beneficial. Your first goal is to understand the needs of the boss.
@tidalmacro@SantiagoAuFund You're too rigid, you need to go with the flow...for elasticity you'll need more then 1. I think asmptotically ideal monies must be n>3 to reach a form of wave constructive interference patterns. Credit is always elastic if in the form of fiat.
It is as long as it is debt based. However, a monetized commodity has frequently over history harmonized the debt burden. What is missing is a useless commodity that monetizes. BTC ain't it...the real geniuses have discussed ideal money namely Nash, Hayek and Shubik if we figure it out it will be the last stand of the Grizzly Bear markets. BTC just gave us a taste...like dipping a toe in it.
@RealJimRickards@Bannons_WarRoom The GENIUS Act creates an alternative to the Fed's capital markets and ultimately will reduce demand due to competition.
@Bannons_WarRoom@RealJimRickards Havoc in the Hormuz is the goal Mr. Currency wars. It strengthens demand for U.S. Dollar denominated oil. Therefore, it supports demand for the dollar. In all serious looking forward to the listen
@_The_Prophet__ The real issue was the same as it ever was...the rest of the world was debasing currency to acquire U.S. gold...Nixon called them on it...but before they took the bait.
@DavidBCollum This is not lost on me. However, the Railroad build out was necessary and rapid. It opened the interior and west coast to trade. In some ways the current bubble is doing a similar thing. There will be pain, but its a race that cannot be lost.