This is not QE…

Some more gold from the Americans: This is Fed Chairman Jerome Powell telling us that buying treasury bills isn’t QE because they’re buying short-dated assets and not long-dated assets. An excerpt from the article: Mr. Powell emphasized that the coming moves are aimed at maintaining a firm grip on very-short-term lending rates—and not to provide […]

Sevexity update – 09/10/2019

This week a Keynesian Nobel Laureate (does this still mean anything?) economist tried to sell you the idea that debt is simply money we owe ourselves by classifying the whole human race under a collective “WE.” As if debt isn’t simply debt owed by some group of people to another group of people and if […]

Bitcoin and the Luddite line

I’d like to introduce you to what I call the Luddite/Technologist line. Or simply, the Luddite line. To explain the Luddite line I only need to explain the two extremes, which are already quite self-evident. On the one extreme you have the Luddite. The Luddites were a secret oath-based organization of textile workers in England […]

Bitcoin Lollapalooza

“I like cryptocurrencies less than you do. To me, it’s just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.” – Charlie Munger (speaking to Buffet at Berkshire’s AGM in 2018) I was disappointed to see one of the people who I admire so much, handle something as […]

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