Alpine

For those who asked. These are the 10 tenets of Alpine Republicanism. 1. That sovereignty rests in the citizen, not in the state, under God who is the true sovereign of all. 2. That property, freely held and justly acquired, is the foundation of independence and stewardship. 3. That money must be sound, unmanipulated, and free from the hand of arbitrary power, honoring the commandment against false weights and measures. 4. That government must be small, frugal, and confined to the defense of liberty and law. 5. That decisions belong first to families, communes, and cantons, and only thereafter to distant authorities. 6. That peace is the natural condition of free peoples, and neutrality in foreign quarrels preserves both liberty and prosperity. 7. That the character, faith, and virtue of the citizen are the surest guardians of a republic. 8. That the customs, traditions, and Christian heritage of the Alpine lands strengthen freedom by binding generations together in faith and duty. 9. That the people retain the right of direct voice through assemblies and referenda, for no government may rightly silence its masters. 10. That stewardship of the land, the forests, and the waters is the duty of those who inherit them, to pass them on in freedom to those yet unborn.

Ludwig von Mises was a giant among men, on par with figures like Newton, Aristotle, Einstein, or Leibniz. In time, the world will recognize him as such. Get ahead of the curve by reading this superb biography. https://mises.org/library/book/mises-last-knight-liberalism

It’s Friday, so I’ll confess to a weakness: I don’t dislike index funds. Owning 10,000+ companies globally at near-zero cost and with perfect liquidity is hard to give up. I know it dilutes returns a bit, and I try to keep it minimal… but I just can’t quit fully just yet.

“Invert, always invert.” -Charlie Munger

Friday stuff. Is ChatGPT bullish enough? Well below power trend, but I’ll take it. 24% CAGR for the next decade.

One of finance’s juicier ironies: Vanguard is stacking massive BTC exposure via $MSTR, $MTPLF & Co while still professing to despise bitcoin. This virus truly is unstoppable.

Nostr is to X as X is to normie media. What am I missing?

Congrats to nostr:nprofile1qqsqptkt8hjm8hpzt3hlaqlzddpqn9nrw5wu2k8ku7pvtxv8pnn49espzamhxue69uhhyetvv9ujuctjwd5hqtnd0yhxjeqppamhxue69uhkummnw3ezumt0d5et3e7d for telegraphing these runs in $IREN and $CIFR so well in advance and with such rigor. Both are up more than 5x since April. DYOR, but do follow him.

This doesn’t get anywhere near the attention it deserves. In the years ahead, a relatively small number of bitcoiners will hold a disproportionately large share of global influence at every level of society. It’ll be good for them individually, but it will also reshape society for the better, as today’s fiat elites are steadily debased and replaced. Estimated number of holders: > 1 BTC (future HNW): 500,000 > 10 BTC (future UHNW): 100,000 > 100 BTC (future ultra-rich):10,000

GM. Bitcoin’s fair value will increase by $97 today.

The hardest money wins. - China clung to silver and fell behind while the world moved to gold. - Africa was bought with glass beads. - North American tribes were dispossessed through wampum. History shows what happens when you save in weak money. Don’t repeat it.

As we climb, a quick reminder: do not sell. Too many OGs are upper middle class today when they should be billionaires. “The big money is in the waiting.” -Charlie Munger

“Wealth consists not in having great possessions, but in having few wants.” Epictetus on how not to lose your mind in case a gamma squeeze in $MSTR makes you filthy rich overnight.

Nobody here likes George Soros, but he went from zero to $20B+ by trading the market and what he said about reflexivity very much applies to bitcoin. Sometimes, you have to learn from your enemies. “Reflexivity is, in effect, a two-way feedback mechanism in which reality helps shape the participants’ thinking and the participants’ thinking helps shape reality in an unending process in which thinking and reality may come to approach each other but can never become identical.”