Asset inflation is a ponzi scheme that concentrates wealth and exacerbates income inequality. Hear me out here. Productive entrepreneurship has long been a calculable measure of opportunity cost relative to the discount rate and the…
Stocks serve an important function in our society, but that function was fundamentally broken by the distortion of the medium-of-exchange, unit-of-account, and store-of-value that underlies our economy. Money Historically, money (gold), was an excellent store…
Financial engineering is a symptom of soft money and cheap credit which often gets mis-attributed as a cause of inequality. In order to fully explain all the factors that go into making financial engineering possible,…
The Triffin Dilemma (AKA Triffin Paradox) is a situation of conflicting interest in economic policy when it comes to global reserve currencies. Aptly named after the Belgian-American economist Robert Triffin, the Triffin dilemma recognizes that…
Yeah it’s a quip we’ve gotten quite a lot. Unfortunately someone else already snagged the domain before we could. It’s no shocker for me to tell you that 2020 has been a year of record…
We were recently contacted by a journalist regarding some of our thoughts on 1971 and how they conflict with mainstream economic narratives regarding productivity, growth, and the gold standard. You can read the full article…
Fiat monies have a long and storied history of failed experimentation…even in America. The dying US Dollar is far from the first attempt at such asininity. In fact, the origin of the colloquialism “not worth…
I’m dubbing this, “The Jay Powell Effect”. The virility of the meme never ceases to amaze. Twitter exploded yesterday after Federal Reserve Chairman Jay Powell’s video announcement that “[wealth] inequality is something that’s been with…
Keynesians have long decried the early American eras of metallic money standards as the cause of economic recessions. The answer is expansion and contraction of money and credit, as is typical. Pegged bimetallism started in…
