George Orwell’s 1984 was published today in 1949.
“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.”
Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to ₿845,256. We have also increased our USD Reserve by $100 million to $1.0 billion. $MSTR $STRC
https://t.co/94TmyRWVrs
Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to ₿845,256. We have also increased our USD Reserve by $100 million to $1.0 billion. $MSTR $STRC https://t.co/1Zf1AVsP1H
Good morning.
Some friendly advice for the perma Bit-doomers: Stop declaring Bitcoin "dead". It is not dead. It is not dying. It is an asset experiencing normal bouts of high volatility during its adoption and maturation phase.
Have a great day.
Andrew Jackson destroyed the Second Bank of the United States in 1836, delivering the single greatest blow to financial tyranny in American history. You won't hear this story told correctly in any economics textbook, because it reveals how central banking works: as a government-sponsored cartel that redistributes wealth from productive citizens to politically connected bankers.
The Second Bank held a 20-year federal charter starting in 1816. It controlled the money supply, issued currency, and held government deposits. Sound familiar? Nicholas Biddle, the bank's president, wielded more economic power than any elected official. He could trigger financial panics at will by restricting credit. He bought newspapers and bribed congressmen. When Jackson opposed recharter in 1832, Biddle deliberately crashed the economy to punish him.
Jackson called it "a hydra of corruption" and he was right. The bank created artificial booms through credit expansion, then triggered busts when politically convenient. Biddle openly bragged about manipulating markets. Free market economists and Jackson both recognized the core insight: this was legalized counterfeiting with government backing, not free market banking.
The political establishment united against Jackson. Henry Clay, Daniel Webster, and the entire Whig Party defended the bank. Biddle spent millions buying influence. The press attacked Jackson as an economic ignoramus. Every "respectable" voice supported recharter. Jackson stood alone with the American people.
After Jackson killed the bank, the country experienced the strongest economic growth in its history. From 1837 to 1862, America operated without a central bank. Industry flourished. Wages rose. Innovation exploded. This wasn't coincidence. When you stop subsidizing financial speculation and let productive capital find its natural home, prosperity follows.
Central banks don't stabilize economies: they destabilize them for private gain.
MUST WATCH:
ROBERT BREEDLOVE EXPLAINS HOW $6 TRILLION OF NEW MONEY CREATED IN 2020 EQUALS 100 MILLION YEARS OF STOLEN LABOR — OR 2 MILLION HUMAN LIFETIMES.
ONE OF THE CLEAREST EXPLANATIONS OF INFLATION YOU’LL EVER HEAR.
Milton Friedman's greatest regret.
The federal government discovered the perfect crime in 1943: make employers collect taxes before workers ever see their paychecks. You think you earn $60,000 per year, but you actually earn $75,000 and hand over $15,000 to politicians without ever touching it. The psychological difference is enormous.
Before payroll withholding, Americans wrote quarterly checks directly to the Treasury. Picture yourself sitting at your kitchen table, writing a $3,750 check to the IRS every three months. The pain was immediate and visceral. Politicians faced constant pressure to justify every dollar because citizens felt the extraction in real time.
Withholding transforms this concrete loss into an abstract accounting entry. Your employer becomes an unpaid tax collector, and you never experience the actual cost of government. Worse, most people celebrate their tax refunds as government generosity rather than recognizing them as interest-free loans they provided to politicians. The Treasury collects your money throughout the year, spends it immediately, then returns your own cash and receives gratitude.
This system enables the explosion in government spending you witness today. Defense contractors billing $640 for toilet seats, agricultural subsidies for corn syrup, and congressional salaries for 535 people who rarely show up to work. When taxation feels painless, voters stop demanding accountability for how their money gets spent.
Milton Friedman helped design withholding as a wartime emergency measure and later called it his greatest regret. Free market economists recognized that the psychological pain of direct taxation creates political pressure for fiscal restraint. The temporary always becomes permanent in government hands, and the emergency justification disappears while the extraction mechanism remains forever.
Good evening.
I’m getting a lot of questions about whether my conviction has been impaired or my thesis has changed about Bitcoin with its recent price weakness. The answer is an emphatic no. Why? Because I like to keep it simple and focus on first principles. While other assets are enjoying the warmth of the hot ball of money, Bitcoin will simply continue to reflect the debasement of all government sponsored currencies over the long run. Nothing more. Nothing less. Hope this helps.
Have a great night.