Commentary On The Planned US Sovereign Wealth Fund
With his latest initiative to set up a state investment fund, Donald Trump has taken the financial markets in a different direction. Many, especially in my opinion unfortunately bitcoiners, are jumping on this bandwagon and rushing into this juggernaut full of anticipation (I know: hyperbitcoinization and all that...). Nevertheless, the question must be: is it right for the state to intervene in the capital markets with public funds? My personal assessment: no, absolutely not. The state should keep its hands off it! It is the territory of the private sector, which is already suffering from too much regulation and interventionism. Efficient capital allocation does not need this! And we don't want a strong state, but a minimal state, if at all.
Some thought on the SWF:
The very foundation of a SWF contradicts the libertarian principle of economic freedom . By centralizing wealth, states exert control over investment decisions that should naturally be left to the market's invisible hand. This control leads to inefficiencies, as government officials, often detached from the real dynamics of the market, make decisions based on political rather than economic merit. The market, in its purest form, would distribute wealth and risk more efficiently through countless individual decisions rather than one monolithic entity.
Moral and Ethical Considerations
There's a moral dimension to consider as well. The libertarian ethos champions the idea that wealth generated from resources within a nation's borders should benefit those who directly contribute to its extraction or production, not be funneled into a fund where the government decides its fate. This approach borders on what could be described as modern feudalism, where the lords of the state dictate the destiny of the common wealth.
Political Power and Corruption
The concentration of economic power in SWFs also amplifies political power, breeding grounds for corruption and cronyism. Just as we've seen with central banks and planners, the management of these funds can become a playground for political favoritism, where investments are not made for the best return but to maintain political allies or to pursue geopolitical strategies over economic ones.
So please, dear politicians: keep your hands off the free market.
#swf #usa #capitalism #trump #bitcoin #economy #nostr #grownostr #plebchain 
The Roman Road System: An Enduring Legacy
For centuries, Rome bore the title 'Caput Mundi' - capital of the world. Honor to whom honor is due, was it not this cosmopolitan, socially, culturally and economically bubbling melting pot in the heart of the Imperium Romanum that bequeathed to posterity incomprehensible art treasures, architectural talent, technical masterpieces, after long struggles Christianity and an abstract legal system - a cornucopia from which the following generations and centuries were continually able to draw. A seemingly banal and yet impressive legacy of Rome is its road network, which economically and culturally integrated large parts of Europe, North Africa and the Near East and made it possible to seamlessly connect its cultural sphere with distant regions. For example, the connection to the trade routes of the Silk Road, the connection of Europe with India and China. So let's get on our way.
The inception of the Roman road network can be traced back to the military needs of the expanding Roman Empire. Initially, these roads were constructed as viae militares—military highways designed to facilitate the rapid movement of troops and supplies across the conquered territories. The first major road, the Via Appia, was built in 312 BC under the consulship of Appius Claudius Caecus, connecting Rome to Capua, and later extended to Brindisi to secure the southern Italian regions.
The Extent and Structure of the Road Network
At its height, the Roman road system stretched over an estimated 50,000 to 80,000 miles, weaving a complex network across Europe, North Africa, and parts of Asia Minor. These roads were engineered with remarkable precision; they were often paved with large stone slabs, had a cambered surface for drainage, and included milestones (miliaria) every thousand paces (about 1,479 meters) to denote distances. This network was not just about military logistics but was instrumental in knitting the vast Roman territories into a cohesive administrative and economic whole.
Road Stations and the Cursus Publicus
A crucial aspect of the Roman road system was the establishment of roadside stations or mutationes and mansiones. The mutationes were smaller stations where travelers could change horses, while the mansiones were larger, offering more extensive rest and lodging facilities. These were part of the cursus publicus, the state-managed courier and transportation system, which allowed for official travel, postal services, and even the movement of imperial officials. This system was not only vital for military communications but also for the administrative governance of the empire.
Economic Implications
The Roman roads had profound economic consequences. They facilitated trade by connecting the various regions of the empire, allowing for the efficient movement of goods like grains, wines, oils, and other commodities from the fertile regions to urban centers. The roads reduced transport costs, decreased the spoilage of perishable goods, and enabled merchants to expand their markets, thereby stimulating economic growth. The infrastructure also led to the growth of settlements along these routes, fostering urban development and cultural exchange.
Legacy into the Middle Ages
Post the fall of the Western Roman Empire, these roads did not vanish; rather, they became foundational for medieval Europe. Many Roman roads continued to be used, often serving as the basis for medieval trade routes. For instance, the Via Francigena, originally a Roman road, later became a significant pilgrimage route to Rome in the Middle Ages. Although maintenance declined and some roads fell into disrepair, they remained crucial for travel and commerce. Medieval kingdoms often repaired or built upon the Roman foundations, adapting them to their needs while preserving the basic layout and sometimes even the paving stones.
The Roman road system was not just a marvel of engineering but a testament to the foresight of Roman urban planning and logistics. From their military origins to their economic and cultural impacts, these roads have left an indelible mark on history. Even today, in many parts of Europe, one can trace the paths of these ancient highways, which, despite centuries of change, still whisper tales of an empire that connected a vast world through stone and strategy.
#rome #history #europe #viaappia #nostr #nostrlearn #archeology #ancient #ancientrome #plebchain
That Schumer thinks that civilization depends on taxing the sh.t out of the sovereign
Of course the #DeepState, thought of as a force established in the background pulling the strings of executive and legislative power, is real. This is becoming very clear once again now that #DOGE is active. And I remember very well that years ago I hardly dared to say this word in public to avoid being pushed into a conspiracy theorist corner and being ridiculed in my job in the media. #usa #elon #trump #nostr 
GM, everyone.
Someone please tell me these government parasites can't be this stupid. They really do live in this world of governance, control and 'human management'.
#chuckschumer #usa #socialism #irs #bitcoin #nostr #plebchain #doge 
This would be a disaster. But UK/ EU won't survive two years without debt crisis if the US follow the new path
Elon Musk is right when he points out that the moment we succeed in credibly reorganizing the national budget, capital will flow back to America and the bond market will become stable. The national debt problem will then shift exclusively to those who, out of ideological stupidity or political incompetence, are preventing any reform work. Should the Americans actually prove that fiscal reorganization is possible, even at the cost of social pain, then the rest of us will have to be grateful to them in times when the state continues to expand its activities and trample on our individual rights through excessive burdens and bureaucracy.
The fact is that once a functionary understands that he will not meet with resistance, he will systematically expand his activities. It also represents the basic principle of social organizations, which grow until they reach their limits. If we as citizens do not point out these limits, we have to hope for external forces.
#elon #doge #debtcrisis #bonds #economy #bitcoin #nostr #plebchain 
🤣🤣🤣hmmmm. A little bit of pressure and the commies move their asses. #trump #usa
U.S. Industry Data Signals Business Cycle Acceleration, Boosting Bitcoin Outlook
January figures from the U.S. industrial sector suggest the business cycle is gaining momentum, painting a bright picture for Bitcoin. The ISM Manufacturing Index has surged to 50.9 from 49.2, with New Orders jumping from 52.1 to 55.1. Employment figures have also recovered, rising from 45.4 to 50.3, and Prices Paid have increased to 54.9 from 52.5. These robust indicators not only signal economic vitality but also hint at an environment where Bitcoin could thrive as economic confidence grows.
#Bitcoin #PMI #BusinessCycle #Economy #nostr
The Tulip Mania Anniversary: A Lesson in Resilience and Innovation
Today marks the anniversary of one of the most infamous speculative bubbles in history: the Tulip Mania of the 17th century. While many remember this period as a cautionary tale of economic folly, I propose we view it through a different lens—one that highlights resilience, innovation, and the birth of a formidable industry.
The Tulip Mania, which peaked in Holland around 1637, saw tulip bulbs traded at exorbitantly high prices. At its height, a single bulb could fetch the price of a luxurious home or several years' worth of wages. The eventual crash was dramatic, leaving many investors in financial ruin. However, the narrative of this event as merely a disaster misses the broader picture of what followed.
In the aftermath of the bubble, the Dutch did not abandon tulips; instead, they leveraged the crisis to build one of the world's leading flower industries. Here’s why we should reinterpret this crash:
1. Economic Learning and Regulation
The Tulip Mania taught the Dutch about the dangers of speculation and the necessity for market regulation. This experience likely contributed to the development of more sophisticated financial systems, which are crucial for any thriving economy. The lessons learned from the tulip crash echo in subsequent economic bubbles like the Dot-com bubble, where initial failures led to a more robust tech sector.
2. Resilience and Adaptation
The Dutch flower industry did not disappear post-crash; it adapted. Farmers and traders began focusing on the cultivation and export of not just tulips but a variety of flowers, leading to the establishment of the Aalsmeer Flower Auction, the world's largest. This resilience showcases how economic downturns can foster innovation and diversification.
3. Technological and Agricultural Innovation
Similar to how the Dot-com bubble led to advancements in technology, the tulip crash spurred innovations in bulb cultivation, storage, and transportation. These advancements were pivotal in making the Dutch flower industry efficient and competitive. The development of greenhouse technology and the science of plant breeding in the Netherlands are direct descendants of this period of economic upheaval.
4 Psychological Impact on Market Behavior
The psychological aftermath of the tulip crash instilled a cautious yet ambitious spirit among Dutch merchants and farmers. This balance has historically allowed for the steady growth of industries rather than boom-bust cycles.
While the Tulip Mania is often cited as a classic example of an economic bubble, its long-term effects were transformative. It laid the groundwork for an industry that not only recovered but flourished, much like how the tech sector emerged stronger from its own bubble.
#tulipbubble #economy #history #bitcoin #nostr #nostrlearn #markets
2 weeks? OK, I'm out
If the eurozone Europeans are interested in giving their economy a boost again, it is high time to clear away the socialist garbage in Brussels and in the major capitals of Berlin and Paris. The Europeans' big lies about migration and climate change and the socialist control of the energy sector must come to an end. The transition phase to a market economy and the private formation of capital will be like cold turkey for a drug addict, but it is imperative to return to massive productivity gains if we are to overcome the demographic crisis that is lurking everywhere.
#europe #eu #socialism #bitcoin #nostr #grownostr #economy #plebchain 
