At long last, the draft is here. "The Treasury Standard: Causes and Consequences"

The Treasury Standard: Causes and Consequences by Joshua R. Hendrickson :: SSRN

The U.S. dollar is the global reserve currency and the U.S. Treasury security is the global reserve asset. Conventional explanations suggest that t...

Prepare thyself.

Okay, so there was this economist named Ronald Coase and he wrote this paper on durable assets. One implication you could draw from the paper is that if you issued your own money, it probably wouldn’t work unless you promised to buy it back for a fixed quantity of something of value or if you promised to limit the quantity of the money. But promises require trust and people probably wouldn’t just trust the issuer of money to do the right thing and not print too much. But there’s this thing called Bitcoin and it solves that problem. The supply of bitcoin is fixed and no one has an incentive to change that. So it’s like a new solution to this problem. I read about it on Economic Forces.

What Can Coase Teach Us About Paintings, Bank Notes, and Bitcoin?

On Durability and Monopoly

Our Problem is Fragility.

The American Mind

Our Problem Is Fragility

Any attempt at American renewal needs to be aimed at reducing the fragility that has been introduced into the system.

Bold strategy

If it’s a crime to depreciate Argentina’s currency, I’m afraid the prosecutor is going to busy for the rest of his life.

RonPaul_ItsHappening.gif

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Just 📢: Open House, our monthly Bitcoin meetup Topic: Bitcoin & Academia Speakers: - @KorokRay, Bitcoin Professor at Texas A&M - @Reb...

“We can no longer count on sacrificial resources based on false religions to keep this violence at bay. We are reaching a degree of self-awareness and responsibility that was never attained by those who lived before us. What is really frightening today is not the challenge of this new meaning, but the Kafkaesque rejection of all meaning. What is frightening is the conjunction of massive technical power and the spiritual surrender of nihilism. A panic-stricken refusal to glance, even furtively, in the only direction where meaning could still be found dominates our intellectual life.” — René Girard