The Moral Value of Money

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Journal of a Wayward Philosopher
The Moral Value of Money

June 7, 2019
Hot Springs, VA

“No action can be virtuous unless it is freely chosen.”Murray Rothbard

The S&P closed today’s trading session at $2,873. Gold closed at $1,345 per ounce. Crude Oil closed at $54.10 per barrel. The 10-year Treasury rate closed at 2.08%. Bitcoin is trading around $8,034 per BTC today.

Dear Journal,

Spring is in full bloom here in the mountains of Virginia.

The forest is green and lush. The wildflowers sprawl out, claiming their territory. The cardinals sing overhead… While the blue jays scrounge for sunflower seeds below. And the forest critters emerge, in search of a quick meal…

Yes, nothing brings perspective quite like spring in the mountains.

As you observe nature, you realize it doesn’t care much for your thoughts or plans. In fact, your plans look rather silly to it.

For example, we thought our bird feeders were just for birds. Nature didn’t care.

That’s because nature operates in survival mode. The only thing that matters is the next meal.

If the history books are to be trusted, humans once operated that way too. We hunted and gathered what we needed to survive… Often competing violently with other humans in the process.

Continue reading “The Moral Value of Money”

Ban Bitcoin?

submitted by jwithrow.
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Journal of a Wayward Philosopher
Ban Bitcoin?

May 23, 2019
Hot Springs, VA

“Bitcoin is the most subversive technology on the planet. This is a system that is growing around the entire world. But Bitcoin is just math. The government, no matter how many guns they draw, cannot change a mathematical problem. They can point their guns at 2+2 but it’s always going to equal 4.”Erik Vorhees

The S&P closed today’s trading session at $2,822. Gold closed at $1,283 per ounce. Crude Oil closed at $58.12 per barrel. The 10-year Treasury rate closed at 2.29%. Bitcoin is trading around $7,819 per BTC today.

Dear Journal,

Spring gradually gives way to summer up here in the mountains of Virginia.

And while the outside world frets over geopolitics… trade wars… wealth gaps… elections… and whatever else the news puts in front of them, I quietly admire the brilliance of nature.

You see, the seasons represent change. Unstoppable change. They turn with nature’s cycles whether we want them to or not.

Each season comes with its own beauty. And its own drawbacks.

The choice we have to make is whether to focus on the good… or the bad. That’s it.

And I believe that choice is what determines the course of our life.

Contentment or anger… love or hate… success or failure… it’s all in how we view the world.

Einstein said that there are only two ways to live. One is as though nothing is a miracle. The other is as though everything is.

Was he right? I don’t know. But I bet there’s some wisdom in there somewhere.

Continue reading “Ban Bitcoin?”

The Truth About Education

submitted by jwithrow.
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Journal of a Wayward Philosopher
The Truth About Education

May 17, 2019
Hot Springs, VA

“The journey of a thousand miles begins with a single step.”Lao Tzu

The S&P closed today’s trading session at $2,859. Gold closed at $1,277 per ounce. Crude Oil closed at $62.70 per barrel. The 10-year Treasury rate closed at 2.39%. Bitcoin is trading around $7,126 per BTC today.

Dear Journal,

It has been nearly two years since I’ve written. And time goes by fast.

As I write to you today, nothing has changed about my outlook or philosophy. Yet, everything has changed about my world.

My knowledge of financial markets continues to grow. As does my understanding of where finance is going.

Your neighbors haven’t noticed yet… But we are on the brink of historic change.

Traditional institutions are crumbling. Traditions and customs are being questioned. Entrenched hierarchy is being challenged. The old way is fading into the new…

Continue reading “The Truth About Education”

The Individual is Rising – Third Edition

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Journal of a Wayward Philosopher
The Individual is Rising – Third Edition

November 18, 2016
Hot Springs, VA

Dear Journal,

A specter is haunting the modern world…

Society has undergone a massive change over the past several decades – the type of change from which there is no return. This change has been the transition from the Industrial Age to the Information Age; a transition which is still in its infancy. Most people may not know this yet, but they can feel it.

The rules have changed, and many are rapidly falling behind because they still cling to the old paradigm. Yet a world of opportunity awaits those who understand what is taking place.

Continue reading “The Individual is Rising – Third Edition”

Transcending Politics

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Journal of a Wayward Philosopher
Transcending Politics

October 20, 2016
Hot Springs, VA

Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions… And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property. Arise, you have nothing to lose but your barbed wire fences!” – Timothy C. May

The S&P closed out Wednesday at $2,144. Gold closed at $1,270 per ounce. Crude Oil closed at $51.72 per barrel, and the 10-year Treasury rate closed at 1.75%. Bitcoin is trading around $630 per BTC today.

Dear Journal,

Today is little Maddie’s birthday! I still remember, two years ago to the day, witnessing her first breath of life. I can see it in my mind’s eye just a clearly as I see the computer screen in front of me. She has become a fantastically sweet and clever young lady in two years time, and her father’s cup runneth over with pride and joy.

Due to scheduling constraints, we actually celebrated her birthday on Tuesday. A few months back I asked Madison what she wanted to do for her birthday. “I want to ride Leo the horse!”, she responded without hesitation. So that’s exactly what we did. Continue reading “Transcending Politics”

The Only Debate Topic That Matters

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Journal of a Wayward Philosopher
The Only Debate Topic That Matters

September 29, 2016
Hot Springs, VA

Loading up the nation with debt and leaving it for the following generations to pay is morally irresponsible. Excessive debt is a means by which governments oppress the people and waste their substance. No nation has a right to contract debt for periods longer than the majority contracting it can expect to live. ” – Thomas Jefferson

The S&P closed out Wednesday at $2,171. Gold closed at $1,327 per ounce. Crude Oil closed at $47.12 per barrel, and the 10-year Treasury rate closed at 1.57%. Bitcoin is trading around $605 per BTC today.

Dear Journal,

Nearly one-third of all Americans – almost 100 million people – tuned in to watch the first presidential debate earlier this week. This represents an increase in viewership by nearly 40% from the 2012 presidential debates, and it almost rivaled television’s biggest draw – the Super Bowl – which received 112 million viewers last year. Apparently the debate was aired on television throughout Europe as well.

I see these numbers and the first thing that pops into my head is a question: how in the world do the ratings agencies know how many people are sitting on the couch in front of a given television?

I didn’t spend too much time with this, but all of the numbers I have seen reference “viewers” and “people”, not “households”. They are very specific about this.

I can’t help but think about poor Winston in George Orwell’s 1984 – he sits down in front of his telescreen and while he is watching it, it is also watching him… Continue reading “The Only Debate Topic That Matters”

Maximize Capital; Minimize Crap

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Journal of a Wayward Philosopher
Maximize Capital; Minimize Crap

September 20, 2016
Hot Springs, VA

He achieved success who has lived well, laughed often, and loved much;
Who has enjoyed the trust of pure women, the respect of intelligent men and the love of little children;
Who has filled his niche and accomplished his task;
Who has never lacked appreciation of Earth’s beauty or failed to express it;
Who has left the world better than he found it,
Whether an improved poppy, a perfect poem, or a rescued soul;
Who has always looked for the best in others and given them the best he had;
Whose life was an inspiration;
Whose memory a benediction…
To know that even one life has breathed easier because you have lived,
This is to have succeeded.
” – Bessie Anderson Stanley

The S&P closed out Monday at $2,139. Gold closed at $1,316 per ounce. Crude Oil closed at $43.80 per barrel, and the 10-year Treasury rate closed at 1.70%. Bitcoin is trading around $608 per BTC today.

Dear Journal,

The first leaves of Autumn have begun to fall, and each new morning is now accompanied by a light breeze. Little Maddie seems to share her father’s love of the season, as she enthusiastically gathers black walnuts from the yard to feed the squirrels.

Here, squirrel, squirrel, squirrel… I have an apricot for you!

Yeah, she calls the walnuts apricots. I am not sure where that came from.

Madison has also been debriefed on the proper way to carve a jack-o-lantern, and I test her knowledge daily.

“Maddie, what’s the first thing we have to do to make a jack-o-lantern?”

“We have to carve the top and get the gunk out!”

“And what are we going to do with the gunk?”

“We are going to throw it on mommy!”

…I think you are ready, kiddo.”pumpkin

It is truly the simple things that make this life worth living.

We spend most of our time in these journal entries and especially in the Zenconomics Report discussing complex topics within the world of money, finance, and economics, but that is only because we want to be able to enjoy the simple things. Continue reading “Maximize Capital; Minimize Crap”

Monetary History in Ten Minutes

submitted by jwithrow.
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Journal of a Wayward Philosopher
Monetary History in Ten Minutes

August 23, 2016
Hot Springs, VA

Money, moreover is the economic area most encrusted and entangled with centuries of government meddling. Many people – many economists – usually devoted to the free market stop short at money. Money, they insist, is different; it must be supplied by government and regulated by government. They never think of state control of money as interference in the free market… If we favor the free market in other directions, if we wish to eliminate government invasion of person and property, we have no more important task than to explore the ways and means of a free market in money.”Murray Rothbard

The S&P closed out Tuesday at $2,183. Gold closed at $1,343 per ounce. Crude Oil closed at $46.81 per barrel, and the 10-year Treasury rate closed at 1.58%. Bitcoin is trading around $585 per BTC today.

Dear Journal,

Little Maddie is rapidly approaching her second birthday, and I swear she is going on twelve. Like her mother, Madison is quite adept at the art of talking, and she communicates with us very well. This makes life so much easier when she tells us exactly what she wants for dinner; it makes life just a touch more difficult when she wakes up in the wee hours of the morning and tells us she wants to watch Mickey Mouse.

While this seems terribly inconvenient to her parents now, I can only imagine how immaterial it will seem when Maddie is a teenager and we just hope she comes home before the wee hours of the morning. Nevertheless, it all makes perfect sense when she looks up at us with her blue eyes shining bright and says I love you sooo much!

Moving on to finance… Continue reading “Monetary History in Ten Minutes”

The Plight of the Founder

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Journal of a Wayward Philosopher
The Plight of the Founder

August 10, 2016
Hot Springs, VA

Why don’t you judge for yourselves what is right?” – Jesus of Nazareth, Luke 12:57

The S&P closed out Tuesday at $2,181. Gold closed at $1,338 per ounce. Crude Oil closed at $42.69 per barrel, and the 10-year Treasury rate closed at 1.545%. Bitcoin is trading around $590 per BTC today.

Dear Journal,

My mind wanders off of the beaten path once again this week as I finish up A Lodging of Wayfaring Men by Paul Rosenberg for the second time. As I read this book, I can almost ‘see’ the plight of the founder as it has played out over and over again throughout human history.

In order to understand the plight of the founder, we must first understand a key function of life… all life. The basic laws of thermodynamics tell us that closed systems naturally evolve towards a state of maximum entropy; entropy being the amount of energy not available for work.

Life systematically reverses entropy. Continue reading “The Plight of the Founder”

Bitcoin and the Crypto Revolution

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Journal of a Wayward Philosopher
Bitcoin and the Crypto Revolution

June 22, 2016
Hot Springs, VA

Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. ” – Nassim Taleb, Author of Antifragile: Things That Gain from Disorder

The S&P closed out Monday at $2,088. Gold closed at $1,271 per ounce. Crude Oil closed at $48.95 per barrel, and the 10-year Treasury rate closed at 1.70%. Bitcoin is trading around $670 per BTC today.

Dear Journal,

Bitcoin flirted with $800 last week before dropping all the way down to $630. Today it is hovering around $670. Such volatility is usually feared by the general public, and it is often cited as one of Bitcoin’s weaknesses. To me, this volatility is a beautiful example of price discovery in one of the freest markets on Earth. Continue reading “Bitcoin and the Crypto Revolution”