@preston, you've had a lot of recession porn on your podcast lately (which I love BTW). @Lyn Alden 's new article points out why the looming recession may not materialize as we expect.

Lyn Alden

July 2023 Newsletter: Fiscal Dominance

July 2, 2023 Latest Article: Do High Interest Rates Fix High Inflation? This newsletter issue elaborates on my recent article about the relationshi...

I think credit and debit cards will continue to exist even once #bitcoin is the unit of account. I have a hard time imagining people wanting to carry a large amount of final settlement currency on their phone with the risk of being robbed at gunpoint. Probably will carry enough in your #lightning wallet for small transactions like you would cash, but for larger purchases out in public, you might want to carry a card that is no use to someone who mugs you.

Saw this on Twitter by Wilf. Posting this so I have a record of it in my repertoire to explain to Bitcoin newbies: Imagine if there was a form of money usable by every person on earth with a phone. Money that no corporate giant or hostile government can confiscate. And, unlike the dollar, its buying power goes UP over time. That's Bitcoin.

Yields usually "un-invert" BEFORE the recession happens. The Fed be like:

Nothing to see here. Move along.

This is fine.

Hey NPR, maybe you should check out a decentralized social media protocol. But careful! If you post some good content, people might zap you some Bitcoin and we know how you feel about that!

#[0] and #[1], thoughts on the deepening inversion?

My new rebuttal to any energy attack against Bitcoin is really simple: Cruise Ships, Christmas lights and tumble dryers. All consume energy. All are "unnecessary." But we allow them to exist, so why the FUCK are you going after Bitcoin?

Can someone smarter than me like #[0] or #[1] explain to me what it means that the government is going to buy or honor SVB's long-dated treasuries at par in order to provide them liquidity? Specifically what does par mean here?

That didn't last long 🙄🙄🙄. #[0] some good source material for your next show.