#money
13 items · 13 articles
Articles
Self-Liquidating Credit: The Instrument That Destroys Itself
Bills of exchange carried a built-in death date and extinguished themselves as goods reached market; modern debt compounds forever by design.
The Engine of Prosperity: How Four Sources Drive All Economic Progress
Four sources of economic progress form an interdependent system that emerges spontaneously from voluntary exchange when property rights remain completely intact.
The Credit Famine: How Modern Banking Starves Real Commerce
Modern banking systematically transformed from credit creator to deliberate gatekeeper, engineering $2.5 trillion trade finance gap while earning billions from derivatives.
Another round of patience
Time preference reveals through lending at interest rates. Hoarding refuses all rates, demanding present possession. Expected gains are speculation, not deferral.
The Root of Money
Money is neither vice nor virtue but the material expression of human judgment exercised through time. Only parasites hate it.
The Consumption You Call Saving
Holding money does not defer gratification but consumes the opportunity cost of lending, making hoarding a present expense rather than proof of low time preference.
The Moral Case for Debt Repudiation
Public debt differs fundamentally from private debt: politicians pledge our wealth, bondholders knowingly invest in future theft, so repudiation restores justice.
The Price of Patience
Hoarding is not low time preference; only lending expresses it. Wealth lowers time preference via diminishing marginal utility, not the reverse.
Credit Before Coin: How Markets Bootstrap Sound Money Economies
Bills of exchange don't just provide elasticity within existing monetary systems; they can bootstrap entire economies that lack base money.
The Praxeology of Privacy ~ Chapter 10: Financial Surveillance and State Control
Financial surveillance enables state control through observation. CBDCs complete the architecture. Privacy breaks the OODA loop at observation, making theft unprofitable.
The Praxeology of Privacy ~ Chapter 9: Monetary Theory and Sound Money
Sound money emerges spontaneously from markets, not decrees. Bitcoin implements digital soundness with fixed supply and censorship resistance; privacy requires additional tools.
The Market's Money: Bills of Exchange and the Credit System Governments Killed
Bills of exchange were capitalism's self-regulating credit mechanism for seven centuries, until governments monopolized money creation and destroyed the entire system.
The One Rule That Creates All Wealth
Prosperity has one prerequisite: do not steal. Secure property rights enable voluntary exchange, which accumulates capital fairly. The West is collapsing because governments have become systematic thieves.