The Future of Money

submitted by jwithrow.
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Journal of a Wayward Philosopher
The Future of Money

May 18, 2016
Hot Springs, VA

Just like the Internet gave information back to the people, Bitcoin will give financial freedom back to the people. But that’s only the first step… Bitcoin will allow us to shape the world without having to ask for permission. We declare Bitcoin’s independence. Bitcoin is sovereignty. Bitcoin is renaissance. Bitcoin is ours. Bitcoin is.” – Julia Tourianski

The S&P closed out Tuesday at $2,047. Gold closed at $1,280 per ounce. Crude Oil closed at $48.54 per barrel, and the 10-year Treasury rate closed at 1.759%. Bitcoin is trading around $457 per BTC today.

Dear Journal,

Wife Rachel: Honey, look! Madison has a pet caterpillar in this jar! She put leaves and twigs in there so it can eat and turn into a butterfly…

Philosopher Joe: Oh… why does it look like all of the oxygen has been sucked out of the jar?

Wife Rachel: What do you mean…?

Philosopher Joe: Did you punch holes in the top to let air in?

Wife Rachel: Wha… oh crap.

Spring is in full swing here in the mountains of Virginia. The caterpillars are crawling, the butterflies are flying, the wildflowers are blooming, and the all-encompassing green foliage is a bright celebration of new life! Continue reading “The Future of Money”

Becoming Antifragile

submitted by jwithrow.

Journal of a Wayward Philosopher
Becoming Antifragile

September 16, 2015
Hot Springs, VA

The S&P closed out Tuesday at $1,970. Gold closed at $1,102 per ounce. Oil closed at $44.59 per barrel, and the 10-year Treasury rate closed at 2.18%. Bitcoin is trading around $227 per BTC today.

Dear Journal,

Wife Rachel cornered me the other day: “I saw what you did in your newest post!”, she said in an accusatory tone.

“Whatever do you mean, honey?”, I asked innocently.

“You talked about Madison buying me a walker when I am old!”

I couldn’t contain my laughter. It’s the little things that I find most amusing.

Last week I delved into global finance and speculated that a currency crisis in the U.S. was on the horizon. It is just unreasonable to create trillions of dollars from thin air on a regular basis and expect the world to accept those dollars ad infinitum. I observed that government has no intention of ceasing its monetary escapades, thus currency ruin is inevitable. Continue reading “Becoming Antifragile”

Why the U.S. Faces a Currency Crisis

submitted by jwithrow.currency crisis

Journal of a Wayward Philosopher
Why the U.S. Faces a Currency Crisis

September 11, 2015
Hot Springs, VA

The S&P closed out Thursday at $1,952. Gold closed at $1,109 per ounce. Oil closed at $45.92 per barrel, and the 10-year Treasury rate closed at 2.22%. Bitcoin is trading around $239 per BTC today.

Dear Journal,

Little Maddie is now on the verge of becoming a toddler. She has mastered the art of the crawl and the leveraged stand-up. Walking is the next frontier, and she knows it. To aid Madison in her quest, wife Rachel bought her a plastic toy that doubles as an obnoxious farm animal noise making machine and a child’s walker. Somewhat to my surprise, Madison instantly knew what to do – she pulled herself up on the handles and walked six steps using the contraption to achieve balance.

It was an exciting moment for a first-time dad, but the philosopher’s mind has a tendency to wander and I couldn’t help but envision the future. What happens when, in fifty years perhaps, little Madison buys her mother a walker? Will Rachel instantly understand the intricacies of its function as her daughter once did fifty years prior? Time shall tell.

Moving on to the wonderful world of finance and economics… all of the focus is currently on the Federal Reserve. Having beaten interest rates down to zero and left them for dead for six years in an effort to prevent the market economy from liquidating the cronies, the Fed has recently been talking tough about raising rates. Some say the Fed will follow-through and raise rates next week. Others say by the end of the year. Still others say they can’t raise rates without torpedoing the debt markets. My suspicion is that the economy has become so dependent upon low interest rates that any interest rate hike would be minuscule and nothing but an effort to save face. Continue reading “Why the U.S. Faces a Currency Crisis”