sparsely populated 🤣👌🏾

Looks like AI. 👀

GM

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Discovering Malcolm X has been a revelation!

For too long, I confused him with other civil rights leaders like MLk & other. He's truly a titan. Excited to dive into his autobiography.

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I live on a mountain. 😭

We liked a nature preserve beach near Triest. 🤩

Of course i do recognise it. It's porto katsiki beach (katsiki means goat) and it is in Kefalonia island. The last days of june and first days of july should be good for a visit. Earlier there is a chance for rainy weather, but if not it should be very good. At the end of the beach that is seen in the picture you can find mud that is a bit good for the skin. But this particular beach can be very very overcrowded...

Did anyone else recognize it?

I'd rather be dumb on a sunny beach, TBH.

The really sad thing about constant currency devaluation throughout the world is that it benefits those who have the most access to cheap credit at the expense of those who do not.

People on the lower end of the income spectrum in Egypt are generally dealing with cash. Their wages and savings get debased, and they own fewer hard assets, so they have fewer offsets. Their ability to buy imported goods diminishes, their ability to travel outside of Egypt diminishes, and their costs in general rise.

People on the higher end of the income spectrum in Egypt have access to foreign bank accounts and/or have multi-year domestic property loans, which are basically currency shorts. They mitigate the impact from the ongoing devaluation, or in some cases benefit by it.

As a tangible example, last year I took out a 7-year loan or currency short against the Egyptian pound, and used it to buy a villa that houses a 9-person extended family (7 when my husband and I are not there). The money supply goes up by 20% per year but my interest rate is 3%, which is an ultra-cheap long-term currency short. Within the first six months of the term, the Egyptian pound was already cut in half relative to the dollar. Who knows what the exchange rate will be over the next 6.5 years.

The past four decades of global Fiat World have been like a game of Blackjack. In Blackjack, you try to get to 21 without going over. In Fiat World, you get into a position so that you can take out low interest debt and buy scarcer assets with it, and you do that as much as you can but without going bust in a downturn. The major governments can do that the most. The big banks are next. The big funds and asset managers and public corporations are next. The wealthy individuals are next. Then the middle class, and then the working class and the poor.

And the global aspect of Fiat World is important. An asset allocator can operate globally, so among the 160+ currencies out there, they can arbitrage them. They short a currency with negative real interest rates, and buy good assets somewhere with it. I personally did it in Egypt not to make money (we don't plan to sell for the foreseeable future) but to ensure good housing for the family at modest expense. But global firms do this around the world to make money. As the global economy got more and more financialized over the past four decades, a lot of professional talent shifted from engineering or medicine or wherever else and moved toward financial arbitrage.

Weak money financializes everything else. Strong money can de-financialize everything else.

Be humble by giving credit to the Lord, and acknowledging that He can take it all away again, not by denying how hard you worked.

Blaming chance gives rise to envy and class warfare.

I think you are discounting how relentless we are.

Yeah, we hunt that opportunity down and tackle it, hog-tie it, and drag it to our lair.

I’m sorry the world isn’t big enough for me to tell my story, or anymore significant than anyone else’s. We all need to work and scrape to get what we want out of this life.

People keep telling me that, but it always ends up being the same people joining me, when it's time to roll up the sleeves and work.

You can see it on Nostr. Make a post about something silly or sexy and a gazillion people swarm to it.

Say you want to discuss Kant or Ecclesiastes or the best way to compost for organic gardening, or ask for help with some typescript and watch the place immediately clear out and the same 20 people are left over that are always left over.

That's why we all know each other.

It's the same IRL.

Nothing has been given to me. I took it.

What will the USA and Germany do, when they have to give millions of foreigners free food, schooling, shelter, entertainment, transportation, and health care, without the ability to print money?

I don't know a single other woman who can do the work I do, and only a small handful of men. And I know thousands of people.

That is not luck. 🤷‍♀️

Luck has nothing to do with it. Hard work, experience, and an understanding of my place in the world has made the difference. I came from nothing, and when I die, I will leave the world with something.