f0xr

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -Henry Ford

Public Key

npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn

NIP-05 Address

f0xr@primal.net

Profile Code

nprofile1qqstcmxdzw3jl9xnv4jd4j84jcaq66w9s0yedq6ph00j0zep75cf3eqpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0ds2q099j

Publishing to

relay.damus.io

nos.lol

Author Public Key

npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn

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Last Notes

2025-06-09 17:28:03 UTC

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Did not see this one coming but I'm here for it. LFG
https://fountain.fm/episode/bhD0jlhYb5goXLbsFwKO

2025-06-06 20:12:43 UTC

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Yes. And real estate is a massive chunk of collateral for the banking system. If you understand fractional reserve banking, you understand that nominal price declined in the collateral backing bank-issued debt results in a total banking system collapse.
If you think real estate is going to decline dramatically in price, you're suggesting that either the Fed (a banking system cartel) will allow the complete collapse of the very system that created the Fed for its own self-preservation, or we're going to get 2008 style bailouts with another zero added to the amount.

2025-06-02 03:31:07 UTC

That purple line at the bottom that's down 63% in gold terms since 2022? That's the "safe" global reserve asset, US Treasury bonds.
The US stole $300 billion of Russia's Treasury Reserves. But since then, their $130 billion in gold reserves have almost doubled in price, gaining over a third of the value stolen by the US.
You don't think the rest of the world, especially China and the ME, noticed?
And you don't think anyone noticed that the only asset that actually outperformed gold happens to be the only asset that has BETTER neutral reserve asset properties than gold?
As @nprofile…ad8w always says, nothing stops this train. Buckle up.
https://blossom.primal.net/5f452c2fb671734f17afd1c4081afa9114235e78c82790fb099a6bafea482733.png

2025-05-30 20:29:19 UTC

@nprofile…nrxl I'm having an ongoing bug with the android app. When I view feeds in the explore tab, I can scroll through the list of notes or long-form reads, but I can't open them. I can open the menu and copy the note ID etc, but I have to go back to the home tab and do a search to actually open the note or read.

2025-05-27 15:39:31 UTC

This is the most important Bitcoin chart in the world.
https://m.primal.net/QxKn.png

2025-05-25 12:21:34 UTC

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I don't have enough insight into this to give a great answer, but in general the Amish use more home remedies and alternative medicine than the average American. But they're not opposed to doctors and hospitals when needed, that's always an individual choice.
They do both home births and hospital births, but I couldn't say how the percentage breaks down. My sense is that home births are less than half in the more progressive Amish communities, and more than half in the more conservative communities. But I don't have any good data to back that up.
I'd say it's similar to childhood vaccinations, where I often hear the claim that "the Amish don't vaccinate their children, that's why they don't have x problem." But that's simply false, many do vaccinate. Again, it's the parents' choice whether to do so or not.

2025-05-25 02:45:57 UTC

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My favorite Bitcoin chart
https://m.primal.net/QxKn.png

2025-05-24 20:24:24 UTC

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You can't park money "in" assets, that's an economics myth. If you buy an asset, the money doesn't go "into" the asset, it goes into the bank account of the person selling the asset to you. They can either hold it in their bank account and get inflated away, or immediately turn around and spend it to buy something, which starts the same cycle over again.
Without understanding that about the way money works, it's impossible to understand why asset prices move or why price inflation happens.

2025-05-24 15:58:35 UTC

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Understanding this would dispense with a lot of financial jargon and nonsense that prevents people from understanding markets and price movements.
#nevent1q…vds8 #naddr1qv…rwdk

2025-05-24 15:49:09 UTC

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Fiat currency and fractional reserve banking provide the ideal environment for psychopaths to thrive. That's why they go insane at the smallest sign of a threat to the financial system.
#nevent1q…lkaw #naddr1qv…wqqm

2025-05-24 15:46:35 UTC

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When the money stops working, everything stops working. Unfortunately I doubt more than 0.001% of people even understand vaguely what money is and how and why it works, so the odds that they'll differentiate between functional money and defective money at a philosophical level is nil. That's why number go up technology is the only hope for Bitcoin adoption.
#nevent1q…7av9 #naddr1qv…kua2

2025-05-24 15:40:45 UTC

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This is why the dollar can inflate away year after year, yet the world just keeps using dollars. It will keep "working" until it doesn't.
#nevent1q…xxcv #naddr1qv…fz4j

2025-05-20 02:12:15 UTC

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You mentioned the idea of Bitcoin as shared equity in this episode. It's not the first time you've mentioned it. The first time I heard it, it helped me solidify an idea I'd been playing with for a while.
I think I can explain what you're referring to, and why you can feel it within the Bitcoin ecosystem. The fact is, it's a really fundamental concept not just to Bitcoin, but to understanding what money in general is, and why it works.
Money is, or should be, equity in civilization. That's a seismic shift from money being debt, the way the current system functions, and it isn't a concept I've heard anyone else explain.
I wrote an article referencing the first time I heard you express this concept on Citadel Dispatch, and it's basically the conclusion to my series of articles on money and how it functions. If you wrap your head around the concept, it will fundamentally change the way you understand the world, and give some insight into how radically different things might look under a Bitcoin-based monetary system.
https://primal.net/a/naddr1qqty6mmwv4uj6stn94zhzatfw3uj6v3ew35kwagzyz7xengn5vhef5m9vndv3avk8gxkn3vrextgxsdmmunckg04xzvwgqcyqqq823cdagp44

2025-05-20 02:09:12 UTC

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You mentioned the idea of Bitcoin as shared equity in this episode. It's not the first time you've mentioned it. The first time I heard it, it helped me solidify an idea I'd been playing with for a while.
I think I can explain what you're referring to, and why you can feel it within the Bitcoin ecosystem. The fact is, it's a really fundamental concept not just to Bitcoin, but to understanding what money in general is, and why it works.
Money is, or should be, equity in civilization. That's a seismic shift from money being debt, the way the current system functions, and it isn't a concept I've heard anyone else explain.
I wrote an article referencing the first time I heard you express this concept on Citadel Dispatch, and it's basically the conclusion to my series of articles on money and how it functions. If you wrap your head around the concept, it will fundamentally change the way you understand the world, and give some insight into how radically different things might look under a Bitcoin-based monetary system.
naddr1qqty6mmwv4uj6stn94zhzatfw3uj6v3ew35kwagzyz7xengn5vhef5m9vndv3avk8gxkn3vrextgxsdmmunckg04xzvwgqcyqqq823cdagp44

2025-01-29 18:15:53 UTC

https://m.youtube.com/watch?v=ci_qFIyMyns&t=5211s
@npub1cn4…3vle must be reading my Substack 😂.
Great episode!
https://www.f0xr.com/p/money-flows-arent-important

2025-01-23 03:45:36 UTC

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Jesus: "My kingdom is not of this world."
That's why true disciples of Jesus aren't involving themselves in politics. It's not our kingdom, we're just strangers and pilgrims in this world.

2025-01-19 20:22:10 UTC

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Learn to flip burgers 🤷🏼‍♂️
#note10mj…0m0s

2025-01-17 01:46:18 UTC

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already am, but I can always add a table
https://m.primal.net/NkIN.jpg

2025-01-15 23:55:24 UTC

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"I think the world would be a better place if everyone lived by the general teachings of Jesus."
Although you may not see it, the answer is right there. You can't exist in the world without assuming good and evil. What is truth, if not that which leads toward the good?

2025-01-15 23:43:09 UTC

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Early 30s

2025-01-15 00:50:39 UTC

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Never heard that on, I have no idea what it would mean.

2025-01-09 02:12:37 UTC

Learn to weld 🤣
https://m.primal.net/NYYw.jpg

2025-01-08 00:23:21 UTC

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"coincidence"

2025-01-07 12:50:16 UTC

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💯
During the gold standard era, when banks created too much credit, the inevitable crash didn't destroy gold. It destroyed the fractionally reserved fiat banks.
#note1mjq…n4cx

2025-01-05 21:21:19 UTC

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Nailed it. Sounds like he at least partially agrees with my concept of money as equity.
https://www.f0xr.com/p/money-as-equity

2025-01-05 19:26:50 UTC

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One of my relatives has a handful of plants in zone 7b, they're at least 20 years old. Very prolific, delicious fruit. The fruit all ripens basically together in the fall, maybe a few weeks to a month window.
I can try to answer any questions, or put you in contact with him if you'd like.

2025-01-05 17:49:42 UTC

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There's a word for the system where someone else takes all the output of your labor, but claims that it's right and good for them to do so because in return they give you everything you need to survive for "free".
The word is slavery.
Are you cool with that? Or are you doing something to change it?
#note1nj7…h398

2025-01-05 17:42:14 UTC

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"There are a lot of large actors in the Bitcoin ecosystem now that are pushing the idea that Bitcoin is only an asset. That is not true. Bitcoin is a currency, it directly competes with the dollar, and it can be used in a peer-to-peer manner that completely disintermediates the banks. It also removes the ability to censor and surveil transactions if you know what you're doing. "
#note19cp…mele

2025-01-04 21:26:01 UTC

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skill issue
should have put it all on black obv 🤷🏼‍♂️

2025-01-03 23:02:30 UTC

I wrote this article on Substack about a year ago. It was inspired by a comment @npub1qny…95gx made on the @npub10at…02w3 podcast.
I believe my way of understanding money is slightly different than anything I've heard or read elsewhere. Most of the really insightful monetary philosophers I've learned from are here on Nostr, and I'd love if any of them would be willing to take the time to read it and give me their 2 sats. So if anyone has a line to @npub1a2c…w83a @npub1s05…eyhe @npub1gdu…6nak @npub1w69…zltw @npub1jt9…la9y @npub10vl…sp42 and any other Bitcoin economists you know, I'd be honored if they took the time to check it out and give me some criticism. Constructive or otherwise is fine, I won't be offended either way. I'm no economist, just a guy who likes Bitcoin and figuring out how things work.
https://www.f0xr.com/p/money-as-equity

2025-01-03 21:50:53 UTC

Tesla is the fiat of automobiles.
https://m.primal.net/NQqr.jpg

2025-01-02 01:31:41 UTC

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What wears bib overalls, collects welfare, and cries like a baby?

2025-01-01 15:45:10 UTC

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Minibits has been working really well for me

2025-01-01 15:43:07 UTC

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You can also connect any external wallet that supports Nostr Wallet Connect and it will use that to zap.

2024-12-29 22:03:00 UTC

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I'd do it just for the month off

2024-12-29 19:24:13 UTC

I've been moving my articles from Substack to Nostr as long-form notes. I have a few issues/questions that have come up in the process.
1. I've been using @npub1w0r…cu4x to post the articles. In the most recent article, I added some images to the text. The images show up fine in Highlighter, but not in @npub12vk…pugg or @npub1nz6…0w5y.
2. I've linked previous articles in my recent articles by pasting in the note ID. Sometimes when I open it in Primal, it shows up correctly as a quote, other times it just shows the ID text string. Maybe I should be using the note link rather than the note ID?
3. Most of the zaps aren't showing up in Primal. If I zap myself, that shows up. I'm not sure where the other zaps are coming from, but they show up in my wallet, but not attached to my article in Primal. Not at my computer ATM so I don't know whether they're showing up in Highlighter or not.
#asknostr

2024-12-26 00:38:12 UTC

Nothing has changed. How often do you hear a woketard accuse someone of "talking like Stalin?" Curious, that, considering the atrocities of the Soviet gulags. Almost like they don't really care about the atrocities, just about any threats to their ideology. And like they proved through COVID, they have no moral compunction about committing atrocities themselves as long as the "right" people are being hurt.
https://m.primal.net/NGiT.jpg

2024-12-24 18:31:17 UTC

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"Russia's illegal oil exports" did I somehow teleport to Bluesky or Reddit? Luckily there's already a perfect currency for people who want to control other people's business. Unfortunately, Bitcoin is eating its lunch.

2024-12-24 18:18:54 UTC

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The gender pay gap collapsed.
https://www.f0xr.com/p/the-amish-fertility-miracle-part

2024-12-24 17:38:54 UTC

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We're calling 5% a price swing now?

2024-12-21 04:46:25 UTC

Demographic decline visualized
https://m.primal.net/NCIj.jpg

2024-12-21 04:42:20 UTC

Sounds about right
https://m.primal.net/NCIe.mp4

2024-12-21 02:31:34 UTC

Countries and people who held onto silver too long as it was demonetized lost fortunes.
The same thing is happening to people who are holding onto dollars and euros and rubles today.
https://m.primal.net/NCEk.jpg

2024-12-16 12:33:29 UTC

This comment on my Substack just made me laugh so hard. Can you imagine his shock if he landed in nostr and found all the "Bitcoin scammers" eating healthy and working out and selling beef and homesteading and starting families?
https://m.primal.net/MxnC.png

2024-12-06 13:53:45 UTC

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Cap gains are a percentage of the Bitcoin price appreciation measured i dollars. If you're paying cap gains, by definition, you're better off than you would have been by holding cash instead.

2024-11-27 22:47:34 UTC

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"US Money Versus Corporation Currency" is the most underrated book in the stack, unfortunate that I've never heard a bitcoiner or Austrian economist mention it. The fact that it was written 2 years before the Federal Reserve Act was passed, and he basically nailed everything that's happened with our money for the past hundred plus years is mind-blowing. It's not the easiest read, but well worth the effort.

2024-11-12 01:43:53 UTC

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Boom
https://open.substack.com/pub/f0xr/p/money-flows-arent-important

2024-11-12 01:43:11 UTC

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Not really
https://open.substack.com/pub/f0xr/p/money-flows-arent-important

2024-11-12 01:41:48 UTC

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https://open.substack.com/pub/f0xr/p/money-flows-arent-important

2024-11-12 01:34:26 UTC

https://open.substack.com/pub/f0xr/p/money-flows-arent-important
If you're interested in understanding why Bitcoin price, and all prices, move.

2024-10-11 13:25:45 UTC

https://substack.com/@f0xr/note/c-71670283

2024-10-11 13:24:39 UTC

https://substack.com/@f0xr/note/c-71764470

2024-09-29 16:49:52 UTC

https://open.substack.com/pub/f0xr/p/the-amish-fertility-miracle-part

2024-09-29 16:48:32 UTC

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If you really want to knock out a cold or virus at the earliest stage...
1. Tube of Ivermectin horse paste off Amazon or your local farm supply store. It's dosed by weight, take the appropriate amount for a horse of your weight. The pounds are right on the plunger of the syringe, a moron can do it. Swallow the paste in a bite of yogurt if you're a pussy.
2. Vitamin D, 5000 mg
3. Zinc, 100 mg
4. Vitamin C, 1000 mg
Take each of those every 12 hours for two days.
I've never had a cold progress past initial extremely mild symptoms if I do this at the first feeling that I'm getting sick. Done it at least a dozen times the past 4 years, 100% success.
Ivermectin and zinc are the critical parts of the treatment.

2024-09-02 23:48:30 UTC

https://open.substack.com/pub/rightflank/p/universal-basic-income-just-crashed?utm_source=share&utm_medium=android&r=3i492j
UBI is a communist scam .

2024-09-02 13:36:56 UTC

Working on a new Substack article on demographics.
"I have read numerous articles and comments that reference the Amish to support this or that theory on the cause of falling fertility. One thing I notice is an obvious lack of understanding of the Amish culture, which leads to faulty arguments that don’t reflect reality. This isn’t surprising, given the insular and poorly-understood nature of the culture, the plethora of ridiculously incorrect “Amish” reality TV shows and pop culture myths, and the fact that the number of people with firsthand knowledge of Amish culture from an insider perspective who also write about demographic trends on any public platform is probably zero.
Well, was zero. I’m about to make that one."
Stay tuned...

2024-08-16 17:10:34 UTC

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"Deferred consumption is what makes capital formation and civilization possible. People work to create things that they don’t immediately consume, and those new tools and processes make it easier to create more things in the future with less effort, which raises the productivity of the economy (getting more output for less input) and makes society as a whole wealthier. Those new tools and processes can then be used to more efficiently create other tools and processes, which increases productivity even further, and the whole thing compounds on itself in an exponential curve of increasing productivity and increasing wealth. But it all starts with and relies on someone somewhere putting in effort now, to create something they won’t benefit from until later."
https://www.f0xr.com/p/money-as-equity

2024-07-29 16:05:11 UTC

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Absolute insanity. Fiat clown world has hit rock bottom, and is starting to dig.
#note1q6l…yrgj

2024-07-28 00:39:56 UTC

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Yes seems to be

2024-07-27 21:29:54 UTC

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Imagine how much of an irresistible force Bitcoin is to make the most powerful man in the world do a 180 like that. Incredibly bullish.

2024-07-27 18:17:12 UTC

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"Legal" is unfortunately just a cope now. Of course it's not "legal" according to our founding documents, and how long has it been since that mattered?

2024-07-27 15:49:04 UTC

How to handle traffic stops like a boss.
https://v.nostr.build/kg6ssC2mhTliccAz.mp4

2024-07-27 15:18:37 UTC

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Oh yeah, it's definitely going to be an interesting fourth turning cycle.
The whole house of cards is built on the back of the almighty fiat dollar. And all it takes to collapse the entire system is to step away and stop holding onto your fiat bags.

2024-07-27 15:15:49 UTC

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Sodomites once again thumb their nose at God, this time mocking the Last Supper. I won't be watching a second of this Satanic blasphemy.

2024-07-27 15:12:54 UTC

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Because the pedophiles and sodomites running our institutions love thumbing their noses at God and pissing all over the smoldering ruins of our civilization as they're busy destroying it.

2024-07-20 21:26:34 UTC

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https://www.f0xr.com/p/universal-basic-income-coercion-or?r=3i492j

2024-07-19 16:04:05 UTC

Latest newsletter
https://open.substack.com/pub/f0xr/p/defining-wealth?r=3i492j&utm_campaign=post&utm_medium=web

2024-07-15 14:00:03 UTC

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If power hungry psychopaths can convince the populace that their rights aren't granted by God, but by popular vote, then shifting public perception by controlling the media and shifting vote totals by controlling the vote count is all it takes to give power hunger psychopaths "moral" cover to infringe on our God-given rights.
It's not a misunderstanding, it's deliberate, pathological brainwashing.

2024-07-13 23:57:40 UTC

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It is crazy, and I love it. Takes so little to be above average when that's your competition. Accumulating wealth faster than the American consoooooooomer is like beating a midget at basketball.

2024-07-11 23:32:34 UTC

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There are no countries on the Internet
VPN ftw

2024-07-11 23:26:39 UTC

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LFG

2024-07-09 11:43:48 UTC

"Green" energy is a euphemism for state mandated poverty. State mandated poverty is a description of communism. 🍉 politics, green on the outside, red on the inside. Nothing new under the sun. https://i.nostr.build/LhhPkF2nskPMmBpw.jpg

2024-07-08 14:56:42 UTC

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https://i.nostr.build/aB5Iq7PJ9cDaZHTF.jpg

2024-07-05 23:45:56 UTC

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A few more days before sub 50 please, just enough time to transfer some funds through the pathetic fiat rails

2024-07-05 03:14:18 UTC

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ahhh, a fellow noticer! 🍻

2024-07-04 23:44:16 UTC

"In 2019, the European Parliament mandated ISA technology to reduce traffic collisions and injuries. Recommended by the European Transport Safety Council, ISA aims to cut collisions by 30% and casualties by 20%, contributing to a goal of zero road deaths by 2050."
Zero road deaths. We're ruled by a literal nanny state, a generation of childless harpies with tragically misplaced mothering instincts, and their effeminate beta orbiters.
Setting an impossible target guarantees cover for unlimited totalitarian control forever.
https://www.zerohedge.com/markets/orwell-hits-highway-starting-month-cars-britain-will-have-speed-limiters

2024-07-04 19:54:04 UTC

The divorce-industrial complex. Birthrates continue to collapse, such a mystery...
https://m.primal.net/JIJR.jpg

2024-07-03 00:42:55 UTC

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Imagining that women care one iota about your step up the ladder of science is peak nerd hopium, and a good way to ensure that you die without ever experiencing that moment.
Don't shoot the messenger, I'm just presenting the facts 🤷🏼‍♂️

2024-07-02 17:32:53 UTC

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Very different from "investing" in a house.
And by the way, you can still be rugged by the landlord of the house you "own". The rent is a little cheaper, but try not paying your property taxes and see what happens.

2024-07-02 17:29:17 UTC

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I'm interested in learning

2024-07-02 13:14:56 UTC

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If you're walking down a dark alley and two guys in ski masks jump you, do you demand the right to hold a quick vote with them on what to do with the money in your wallet? And then leave happy after the result of the vote is for them to take your money?
That's how democracy works.

2024-07-02 00:10:52 UTC

Went to a sin festival, it was repulsively sinful. News at 11.
https://v.nostr.build/J60m5.mp4

2024-07-01 22:05:37 UTC

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"I'm going to buy this house, and then in 20 years when the roof needs replaced and the appliances are shot and the carpet is threadbare and the walls are scuffed and termites are eating the frame, I'll sell it for a 5x profit. 'Investing' in real estate, I'm such a genius." -statements made by the completely deranged

2024-07-01 18:10:00 UTC

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Imagine if a publicly traded company had an "inflation target" for their stock.
"We will issue as many shares of stock as necessary every year to make sure the value of each share falls by 2% annually. The new shares will go to the board, management, and a few well connected insiders."
Imagine what would happen to the stock of any company that tried that. Yet that's exactly what the banksters do with our money. They've just been successful enough at brainwashing and gaslighting people to keep the scam going for way too long. Imagine what will happen to fiat once people start to understand the banking and monetary system the way Henry Ford did.
https://open.substack.com/pub/f0xr/p/money-as-equity?r=3i492j&utm_campaign=post&utm_medium=web

2024-06-30 16:46:25 UTC

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This kills the banking system

2024-06-30 16:43:44 UTC

https://video.nostr.build/0c8e6194b37cb977abc0d4dcfcec89037962a65837d55138a6660f9f9fe4e064.mp4

2024-06-28 14:09:53 UTC

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And there it is, the first tassels. Beat the 4th by a week.
#note1yas…akhj
https://m.primal.net/JBAU.jpg

2024-06-27 13:21:58 UTC

I'm sure if we just build a few more windmills this problem will be solved 🙄
https://m.primal.net/IzqC.jpg

2024-06-21 14:27:43 UTC

"loyal"
https://m.primal.net/IsqC.jpg

2024-06-21 14:26:25 UTC

🤮🤮🤮 and then for no reason at all the country elected Hitler with overwhelming support
https://m.primal.net/Ispy.jpg

2024-06-20 06:25:01 UTC

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But we have to ban incorrect political parties to save democracy!

2024-06-19 17:52:34 UTC

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It isn't coming right now. Gradually, then suddenly. Money supply has been shrinking for a while now, but that inevitably collapses the financial system because they're way too leveraged. And at that point it's if, not when, the next liquidity deluge hits.
That tighten>collapse>bailout>inflation cycle has been repeating at increasing size and tempo since 2000. Eventually a cycle becomes big enough that they can't stuff it back in the bag so to speak, and people just want to get out of the currency at all costs. That's when the wage-price spiral happens.
In the US we're being flooded with cheap Chinese goods and cheap Guatemalan labor. But that won't save them in the end, because the Chinese and Guatemalans will also demand higher wages to survive. The people actually doing the work always have the power at the end of the day. The elites are just terrified of the day the masses realize that fact.
In the US something like skilled construction labor costs went up by 20-40% since 2019 and they aren't coming back down. Living expenses haven't fallen, and tradesmen are continuing to raise their prices even as the building industry gets squeezed by lower demand. That's the earliest glimmer of labor shifting the pricing power back in their direction.

2024-06-19 07:36:02 UTC

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There are tens of trillions in bank deposits and cash in the US alone. "Someone" is holding every dollar at all times, so every dollar created is debasing someone's savings. Most just don't realize it.
But the worst debasement isn't savings, it's the lag in wages keeping up with prices. Every wage earner gets debased through that, and for a non-trivial amount.
Hyperinflation happens when wage earners finally catch on, and proactively demand wage increases higher and faster than price increases. That's what happened in Germany and Austria in the 1920s. The bougie "elites" were aghast at the wages demanded by their domestic servants, while their own "risk-free investment" in government bonds had evaporated to essentially zero.
That's the dreaded "wage-price spiral" the Fed has been freaking out about since 2021.

2024-06-18 22:39:01 UTC

Reminder that climate "science" is as ridiculous as voodoo, and even more evil.
https://video.nostr.build/4359ed5915c37406ebcfb2436025704db7160fc90db01e071eed0f4295b591d4.mp4

2024-06-17 23:23:12 UTC

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Yeah I think a bridge in some little town that only gets local traffic is exactly the kind of unproductive investment a sound money standard will kill. Imagine how that project gets built today. Massive debt issuance by the state, or taxes on people who will never use the bridge.
I see the fact that these projects under a Bitcoin standard either don't happen, or get fronted by a wealthy local benefactor, as a really good thing. I don't want my taxes and the inflation of my savings building bridges in Podunk Missouri. Let's use that to build SMR's or desalination plants or something really worthwhile.

2024-06-17 23:02:38 UTC

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The project might not be a good allocation of resources. Under a sound money standard, that becomes obvious quickly. If it can't produce enough profit from tolls to repay the loan, it's a poor use of resources. The market is telling you that people value something else more than they value the bridge. Maybe adding a second ferry to reduce the wait time is a better allocation of resources?
We've been brainwashed by fiat economics to see any infrastructure or any business that "makes money" as productive. Without the ability to finance those things through inflation by issuing debt, only projects that provide a lot of real value will be able to get financing.
Anything else will have to be paid up front, by someone who values the project for other than purely economic reasons.

2024-06-17 22:45:58 UTC

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Under the current system, the interest for loans comes from new loans. That's why M2 only goes up to the right, and any pause collapses the entire financial system.
That's a consequence of the debt/fiat system based on the fraud of usury, where banks charge interest to loan out money they don't have.
Imagining a Bitcoin standard is tough right now, because we're in a brief blip with Bitcoin rapidly appreciating in value as in gets monetized. Eventually that process slows down and stops. At that point Bitcoin deflates at the rate of economic growth. That's a lot slower than the current value appreciation. At that point loans become possible, as long as it's for a genuinely productive use that beats the overall rate of economic growth. Loans don't go away, but massive misallocation of capital does.

2024-06-17 22:19:37 UTC

Another good reason to avoid centralized platforms, for both posting and reading.
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2024-06-17 21:42:31 UTC

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Charging interest will always be attractive to those making the loan, as far as I can see. The difference is that under a sound money standard, paying interest on unproductive debt becomes completely untenable.
This is partially a result of misunderstanding what money is. Debt as money is a terrible perversion of the concept of money as a ledger of deferred consumption. A sound money economy makes a lot more sense once you start thinking of money as equity, rather than debt and fiat.
If you had to take out a loan of Exxon shares and repay it in Exxon shares + more Exxon shares, the bar for profitable use of debt goes up.
https://open.substack.com/pub/f0xr/p/money-as-equity?r=3i492j&utm_campaign=post&utm_medium=web

2024-06-15 11:42:31 UTC

Why progress has become impossible
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