Learning Bitcoin’s Golden Language – Adoption cycles will persist post 2021

Bitcoin is in the process of monetisation whereby people adopt a digital, decentralised, global, censorship resistant store of value. Historically adoption cycles have centred on the halving, with an accumulation phase pre-halving, a parabolic phase post-halving and a bear-market thereafter (I wrote about this here). Preston Pysh and Stephan Livera explored the possibility that bitcoin … More Learning Bitcoin’s Golden Language – Adoption cycles will persist post 2021

Don’t “believe” in bitcoin; understand Store of Value, Stock-to-Flow and Network Effects

“Do you believe bitcoin?” “Do you believe in gold?” This line of questioning makes it sound like there is something mystical or religious about these store of value assets. Yes, people talk about gold and bitcoin with religious fervor, but gold is precious for a reason and the same logic is applicable to bitcoin. The … More Don’t “believe” in bitcoin; understand Store of Value, Stock-to-Flow and Network Effects

Sound Money Monthly: (ed. 5) Central banking is an environmental disaster

TLDR: Central banks positioning themselves as a solution to climate challenges is dangerous. They’ve promoted unsustainable debt fueled consumption for 50 years. Consumption is great but it needs to be based on production otherwise it’s unsustainable and bad for the environment. Micro level policy is futile while unsound money remains. Sound money is the environmentally … More Sound Money Monthly: (ed. 5) Central banking is an environmental disaster

Chris Cole on derivatives, volatility, market structure and regime change

Really enjoyed this Grant Williams podcast with Chris Cole. In fact, all Grant’s interviews in this series are worth listening to (more than once). There’s a lot of info I didn’t fully understand in this interview. Options and derivatives aren’t my strong point, but the interaction between these variables, volatility, monetary policy, macro and market … More Chris Cole on derivatives, volatility, market structure and regime change

Sound Money Monthly: (ed.4) Where can we place our trust?

TLDR: The foundations of social trust are being tested. Our unsound monetary system with its negative consequences is a driver of this trust deficit. Communities that adopt sound money assets take a proactive step towards trustworthy relationships and away from the insidious consequences of unsound money. Youtube summary video: Trust – there’s simply not enough … More Sound Money Monthly: (ed.4) Where can we place our trust?

Book Review: The Nihilism, Constraints and Multipolar vision for Geopolitical Alpha

Excellent book where Marko Papic outlines his geopolitical investment framework. An educational and enjoyable read with plenty of examples. Three elements that really struck me; nihilism, constraints and the multipolar vision. Nietzschean Nihilism Marko is a powerfully nihilistic analyst. It makes his research incisive, differentiated, entertaining and valuable. Something to strive towards as an analyst. … More Book Review: The Nihilism, Constraints and Multipolar vision for Geopolitical Alpha

Sound Money Monthly: (ed. 3) Debt’s unequal impact on wealth

Have you ever wondered why it’s challenging to buy a house and save for your family’s future? Debt and its unequal impact on wealth is the focus of this edition of the Sound Money Money. TLDR: Debt is driving wealth inequality. Society will remain at loggerheads until the short-term policies which encourage debt growth are removed. … More Sound Money Monthly: (ed. 3) Debt’s unequal impact on wealth

Sound Money Monthly: (ed. 2) “Slang in die Gras” / Snake in the Grass

Have you ever wondered how we managed to accumulate so much debt? In this edition we’ll tackle the causes for the biggest debt bubble in history. You’ll learn about short-termism, interest rates and the feedback into politics. Don’t worry, I have no desire to talk about politicians, elections 2020 or go down the Donald Trump … More Sound Money Monthly: (ed. 2) “Slang in die Gras” / Snake in the Grass

SM (ed. 1) Debt constrains our future

Have you ever wondered why economic conditions are challenging, despite easy access to credit for cars, homes and shopping? In this edition of the Sound Money Monthly we cover one the most important macroeconomic trends, debt. (16 minute read) TLDR: Economic growth, job quality and social mobility are declining. Yet the policy response is the cause … More SM (ed. 1) Debt constrains our future

Sound Money Monthly: (ed. 1) Debt constrains our future prospects

Have you ever wondered why economic conditions are challenging for the man on the street, despite easy access to credit for cars, homes and shopping? In this first edition of the Sound Money Monthly we cover the most important macroeconomic trend, debt. (16 minute read) TLDR: Economic opportunities for the masses and social mobility are declining, … More Sound Money Monthly: (ed. 1) Debt constrains our future prospects