Wise minds inside any presidential administration would quickly sell every barrel of oil presently stored in the Strategic Petroleum Reserve. Forgetting for a minute that there’s nothing about energy or energy policy in the Constitution, why on earth would any government stockpile a global commodity that, for being global, is always and everywhere accessible […]
‘Crypto Reserve’ Misunderstands Money, Shows Why It’s Not Read More »
Private, or “crypto” money will eventually replace government money. Bank on it. As written in The Money Confusion, profits from the trading of fiat currency chaos ($7 trillion per day worth of currency trading) ensure the eventual erasure of those margins. The speculation here is that stable, private money will be the instigator of the
Tether & Bitcoin Have a Big, Routinely Ignored Dollar Problem Read More »
Bitcoin “doesn’t trade on fundamentals, but supply and demand.” The previous point was made in a recent column meant to explain the surging value of the most prominent crypto concept. In the same column penned by Giedre Valaviciute, he cited a response from an investor who’s made millions on bitcoin. Asked why he put
Bitcoin’s Fixed Supply of Coins Remains Its Biggest Demerit Read More »
Bitcoin in its present, high-profile form cannot be money. About the previous assertion, it should in no way be taken as a knock on crypto, or private money more broadly. Evidence supporting the previous statement can be found in my 2022 book The Money Confusion: How Illiteracy About Currencies and Inflation Sets the Stage
So Long As Bitcoin Is Loud Price Story, It Won’t Ever Be Money Read More »
“They’re on track to becoming the richest person on earth eventually.” Those are the words of Cullen Hoback, creator of a new HBO documentary (“Money Electric: The Bitcoin Mystery”) which purports to having perhaps uncovered the actual person behind “Satoshi Nakamoto,” creator of Bitcoin. To be fair to Hoback, he’s not offering certitude, rather he speculates
‘Satoshi Nakamoto’ Is Why Bitcoin Will Never Be Money Read More »
