The Real Criminals (And the Week Review)

I look at this chart, and all my brain thinks is: "Ponzi Scheme."

Dear Fellow Expat:

A few days ago, I talked to a Bitcoin skeptic (I’m in the middle of the road here).

He argued that he doesn’t trust Bitcoin (BTC).

He said Bitcoin is an instrument for money laundering, fraud, and criminals.

He said it wasn’t real money…

Although I have little skin in this game, I own BTC because of my long-term thesis on liquidity and central banking. I also understand his argument. 

But I have to ask… if you don’t trust Bitcoin… why do you trust central banks?

Over the last thirty years, the Fed's actions have dislocated the stock market from the underlying economy.

Today, the Fed can unleash trillions of dollars of stimulus at the click of a button.

The Fed undermines centuries of labor theory and the basic human dignity of work.

Why must we all work for something another man can print anytime?

That’s a question every member of the Fed Open Market Committee should answer under oath. And then, Treasury Secretary Janet Yellen should answer the same question while expla…