@Toby McMann
Bitcoin enthusiast | Nostr only
Nosce te ipsum
No relay list published yet.
Recent Notes
"They'll hate you if you don't."
Charlie Munger's advice on giving your kids their inheritance now.
https://blossom.primal.net/e9988a1a9e99e5088ffa2a35854f878c5c334afbb793c3cc68484c9735fdd4b4.mp4
Another headscratcher from Charlie Munger (and these plastic weirdos who worship him).
Guess what, if your kids need your money in order to love you, you were a shitty parent and they are fucked up, unlikely to form healthy, loving relationships with either themselves or others. Very sad.
Guess what, if your kids need your money in order to love you, you were a shitty parent and they are fucked up, unlikely to form healthy, loving relationships with either themselves or others. Very sad.
3
A productivity boom from AI accelerates the debt problem (which is the money most people are measuring through today) versus fixing it.
So many people have this backwards.
The debt will only be re...
Agree. AI's productivity promise is a major problem for the banks and indebted governments. But, if the 1990s are any guide, this problem will ultimately end up back in the lap of savers and holders of the currency.
When you look back to the last major tech advancement -- the internet -- you see prices coming down in the first half of the 1990s. Again, big problem for the banks and government. Greenspan starts priming the pump in the mid-90s, changed the CPI definition in 1996 to mask his expansion of the money supply -- leading to the bubble and crash.
In other words, paraphrasing @Saifedean Ammous, "a slow drain of monetary value over time transfers the wealth of its holders to those who can produce the medium at low cost." The government will need to offset the productivity gain.
When you look back to the last major tech advancement -- the internet -- you see prices coming down in the first half of the 1990s. Again, big problem for the banks and government. Greenspan starts priming the pump in the mid-90s, changed the CPI definition in 1996 to mask his expansion of the money supply -- leading to the bubble and crash.
In other words, paraphrasing @Saifedean Ammous, "a slow drain of monetary value over time transfers the wealth of its holders to those who can produce the medium at low cost." The government will need to offset the productivity gain.
The petrodollar was an example of balancing debt and securing energy/materials through superior warfaring. The problem, I think, is that you cant bully people forever. They find ways of pushing back and winning.
As evidenced by the various conflicts around the globe, it is proving very, very hard (politically, militarily) to dominate and gain control of energy and materials -- at least sufficient to bailout the massive debt represented by the world's global reserve currency.
The fact that the US is, nonetheless, taking this risk perhaps demonstrates how desperate its debt and fiscal spending situation is. And, so far, I am not sure the strategy is working.
Yields are blowing out. Treasuries are being shunned, not treated like a safe haven. And the efforts to gain control of energy resource is very expensive, adding to the problem -- not solving it, arguably.
As evidenced by the various conflicts around the globe, it is proving very, very hard (politically, militarily) to dominate and gain control of energy and materials -- at least sufficient to bailout the massive debt represented by the world's global reserve currency.
The fact that the US is, nonetheless, taking this risk perhaps demonstrates how desperate its debt and fiscal spending situation is. And, so far, I am not sure the strategy is working.
Yields are blowing out. Treasuries are being shunned, not treated like a safe haven. And the efforts to gain control of energy resource is very expensive, adding to the problem -- not solving it, arguably.
@RABBIT HOLE RECAP ... I havent listened to the show yet, but just saw Episode #422 pop up on Fountain ... and thinking how nice to have you back.
The President of the United States is promising $5,000 checks to every adult citizen if his party wins the midterms.
245 million adults. $1.2 trillion. They say tariffs will pay for it. Tariff revenu...
This is why we bitcoin.
If it isnt $5k checks, it will be something else.
Money printer go brrrrr.
If it isnt $5k checks, it will be something else.
Money printer go brrrrr.
Good morning 🥰🥰
https://blossom.primal.net/6183ab08ec00d8c5568685ab6f9a3e921c52b3ee1d9f2a53393b6698deb9d965.jpg
Good morning! Have a wonderful day. PV.
GM https://haven.dergigi.com/4ad7ed8ccfd6a0a0becc0db8c6e36741985e6963e9ec273dc9d10049e59a8512.jpg
Good morning! Beautiful picture. Reminds me of morning runs along the beach at sunrise. 🙏
