If you missed my speech on #Ditto at #Nostriga: give it a watch!

There are a couple books that so fundamentally changed my life, yet they are not known by most of my friends.

If more people would read these books, I'm convinced the world will turn a better place much sooner.

So I will do everything in my power to deoccult these books, specifically to publish them as audio books.

The first is Cryptoeconomics - Fundamental Principles of Bitcoin, the most rigorous book about Bitcoin, and a groundbreaking work in praxeological thought.

Something I’ve thought about a lot in the past couple of years:

Money is the one good that every single person uses. It’s one half of nearly every trade.

As long as the price of money is set by a centralized entity, a true free market is fundamentally impossible, because every transaction is influenced by price controls.

Want to understand how inflation impacts your purchasing power?

Let's look at The New Yorker, which publishes the price of each copy right on the front of the magazine.

1925: 15 cents

2024: $8.99

What the heck happened to make The New Yorker so much more expensive?

It's important to understand that technology is naturally DEFLATIONARY.

Everything should be getting cheaper over time, including The New Yorker.

Think about it: printing, writing, & editing technology has improved tremendously since 1925.

So, why is the magazine more expensive now?

From 1925 to 1971, The New Yorker increased in price from 15 cents to 50 cents, an increase of 233.33%.

That's pretty dramatic, but not THAT bad...

But from 1971 to 2024, price increased from 50 cents to $8.99, an increase of 1698%.

So, WTF happened in 1971?

In 1971, Richard Nixon "temporarily" suspended the convertibility of dollars to gold, ending the Gold Standard.

This meant that the Federal Reserve could now print dollars out of thin air without restriction.

Increasing the money supply by creating new money out of thin air is literally "inflation."

"Prices rising" is the result of inflation.

When more monetary units are created, the purchasing power of the monetary units that already exist decreases.

When the government/central bank prints money out of thin air, they are STEALING your purchasing power.

Here's The New Yorker over a few decades:

1971: $0.50

1980: $1.00

1990: $1.75

2000: $3.00

The magazine did not become more valuable, our MONEY became LESS valuable.