One of the biggest problems with political discourse today is the intentional distortion of the word “capitalism”. People are told in school that what we have is capitalism. They see how unfair the system is and blame it on capitalism. They are told the alternative to capitalism is socialism. They are not given any other words or “isms” to choose from so they move towards the opposite of what is causing them pain today. Capitalism means: private ownership, voluntary exchange, capital formed through SAVINGS. The Bitcoin community memed the word fiat into common parlance…..we should define terms a little better. We keep saying “free-market-capitalism” and other terms like that to try to separate what we mean from the current system. I think we need to abandon “capitalism” altogether. Maybe something like Debtism vs Savings? Or go sensationalist and call the current system Epstein-economics and Bitcoin something like Renaissance-economics.

Had a blast taking sailing classes last weekend. Can’t stop thinking about it. Fun fact: a sail is an airfoil (like a wing) and can pull the boat forward by creating a low pressure bubble in front of the sail. Old Viking sails (the square ones) could only push boats from behind. Modern sails and go anywhere but 45 degrees either side of the true wind. Sails that act as a foil have been in constant use since the 9th century. The principal that defines them was discovered by Brenoulli in 1738 but no one understood it in relation to sails until after the wright brothers started fucking with airfoils for wings. So people sailed the world for 1000 years and probably had no idea how they were able to move into the wind. Makes you wonder what we’re missing today…I suspect something related to the primacy of consciousness is one of our biggest blind spots in physics. 🤷‍♂️

STEADY BOYS. DEPLOYING MORE CAPITAL.

🚨 New Episode of Love & Hard Money 🚨 tell your mom, tell a fren You’ve heard of The Law by Fredric Bastiat. You know you should read it but who has time when there’s so much beef to keep up with on Nostr. I broke it into easy to digest chunks so you can listen to it in the car. Lemme know what you think. TLDR: the only legitimate laws are those that protect life liberty and property of individuals. All others are legal plunder. https://fountain.fm/episode/VEn7rqULxB8A57aw8ymj

My kids are rehabilitating an injured cinnamon moth. Can you see it?

What if the price is never this low again. Would you be pleased with how you handled it? What if the price never goes above this again? I don’t believe that, but it’s good to be balanced in how we think about it.

One of the biggest decisions in any commodity business is do you lock in long term contracts or take spot market pricing. In shipping daily charter rates can swing dramatically. For example a VLCC (pictured) which can carry millions of barrels of crude oil might get $10,000 a a day in a down market and $150,000/day when capacity is tight. Long term contracts, usually in the form of a Time Charter help smooth out the market. For example a major oil company might offer a 1-3 year Time Charter at $25k/day. The ship owner is protected from downside risk that might make debt unserviceable, but if the market spikes, they can’t capture the upside. Under this model, the charterer pays a daily hire rate and takes on voyage costs (fuel, port fees). You as owner cover capital costs, crew, maintenance, and insurance. The spot alternative is usually in the form of Voyage Charter which really just means the owner is constantly hunting for the best rate on their next cargo. Depending on the ship and market this might be per day or per ton. A third option that would be familiar to Bitcoiners is entering a pool. This is a group of ship owners who enter a managed pool that take charters at daily rates and then divide revenue to the pool based on factors like tonnage and age of the ship. There is also Contract of Affreightment where a fleet owner commits to carrying a certain volume of freight over a period but they have flexibility over which vessels handle it. Most small ship owners will opt for the security of Time Charter at first. As fleets grow, it is common to use a blended approach. For example if 70% of your fleet is newer and leveraged via bank financing maybe that portion is on Time Charter and the older ships that are paid off are accepting voyage charter or are part of a managed pool. Most banks that finance ships strongly prefer Time Charter arrangements. #shipping

EVERYONE, CALM THE FUCK DOWN. I JUST WOKE UP. I want #catsr, conspiracy theories, music video links that don’t work and bad amateur art. If I wanted naked autist jousting I’d go to Reddit. This is Nostr damnit! Act right. Take it outside boys. Thank you for your attention to this matter. @jb55 @ODELL

Just took my first sailing lesson today and I’m obsessed. No pictures cause I didn’t have my phone. Feeling the boat respond to the wind and my commands (misguided suggestions may be more accurate) was magical. I’ll be doing more of that. Next time with the kids!

This is obvious in retrospect but I figured out why I can’t orange pill anyone. NO ONE HAS ANY SAVINGS. Outside of retirement accounts most people carry higher balances on their credit cards than they do cash balances of any form. The idea of savings is so foreign they can’t wrap their head around it.