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Reddit summed up in one image

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Imagine being outraged about sports gambling while your life savings sits in S&P at DotCom valuation levels, Ponzi coupons with a negative real return, imploding life insurance and annuities, and rotting lumber and drywall bought with a 5-10x leveraged long.

I still like PSBTs

Fountain: Podcasts & Music

Bitcoin Audible • Chat_178 - Our Burden To Carry with American HODL, Erik Cason, and Brandon Quittem • Watch on Fountain

***"In the early days, the average user could probably use a Coldcard and know the amount of entropy required. The average Bitcoin user today, no c...

Couldn’t make it past 30 minutes of this one. It’s super gay. I threw in the towel shortly after Erik spewed his new postmodernist, NorCal philosophy of blockchain all the things, AI on the blockchain etc. These influencers are overcorrecting too hard and will need another mea culpa group therapy session when all the dumb shit they say here winds up being bad advice again.

Subscribe to be a child

The ultimate boomer dream is to live in comfort by leveraging up as much as possible, then dying alone (with a Jamaican nurse) in their 7+ figure McMansion (which is twice as big as any of their kids’ houses) that they bought in 1975 for 2 years worth of salary, before the bubble that they created inevitably collapses. View quoted note →

GM

Bob Murphy would say: But if we make laws, even in Ancapistan, that consider fractional reserve banking to be fraud, then we could reinstitute a gold standard with 100% reserve deposits. To which I’d say the original post plus: money is supraordinate to law. View quoted note →

Their parents called them entitled, materialistic, and selfish. Now their kids and grandkids call them entitled, materialistic, and selfish. Can three generations be wrong? View quoted note →

The only war the Boomers ever opposed was the one they were expected to fight.

Money lenders will never willingly give up their ability to indefinitely expand the money (credit) supply. Gold doesn’t have the spatial salability to *force* a reversal of their runaway rehypothecation. While Bitcoin cannot necessarily guarantee *zero* rehypothecation, it is the only credible solution to runaway rehypothecation.

A crazy story from Scottsdale AZ that Melody describes here at 49:45: - Bob buys house from regular person Alice for $800k. - Later, Bob colludes with Carol and marks house up to $1.7M and sells it to Carol. - Carol may not even pay Bob (in full) or just pretend to pay him. - Carol takes out a mortgage on that new price, $1.7M. - Carol uses that mortgage to buy more houses. Confusing leverage for genius. View quoted note →

Money is never idle. View quoted note →

Fountain: Podcasts & Music

TFTC: A Bitcoin Podcast • #787: Why The Housing Market Is Rigged To Fail with Melody Wright • Watch on Fountain

Melody Wright returns to unpack a housing market collapse accelerating faster than 2008. Foreclosure referrals are spiking 150% month over month, F...

Melody has incorrectly been calling for a housing correction/crash for years, honestly so have I, but it looks like some cracks are starting to show. The fraud and leverage look primed to blow in multiple areas (residential and commercial RE, private credit, private equity, life insurance, annuities, AI, on and on) but at least one of them still needs a trigger.

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GM. Pay me in specie.