A terrific interview. @TFTC https://fountain.fm/episode/RTCjbaPMfD5VC04sjBXP

Back in 2021, @jack mallers declared that Western Union's best days were behind it and the model increasingly obsolete. Scoreboard below. 👀

The last couple weeks we are reading and hearing macroinvestor types say "the Fed does not matter" (given so-called "fiscal dominance") and the US government is insolvent. Both overstate likely reality, at least for any investable timeline, because they suggest the USD will fail -- which is what is required for insolvency and central bank irrelevance. Likely reality: Yes, the world keeps awakening, little by little, adjusting to the necessity of exponential monetary debasement. ("Nothing stops this train," etc.) Yes, public debt will increase despite the warning sirens because politicians are, as a group, corrupt or inept. Yes, increasing debt keeps hindering economic growth. Yes, this repression will keep punishing the poor, and increase the social divide resulting in more feelings of despair, depression and violence. Yes, it is a failure of humanity and sad. It is the dumpster fire which defines fiat. But until non-US governments adopt hard money and use it for currency, en masse, the USD is not failing. @LynAlden

We tend to condemn, accuse and criticize others for outcomes that deviate from our expectation or desires. Many then also look to God, nature or community for calm and tranquility. In other words, we export blame and look outside ourselves for feelings of safety and protection. Yet, all of the responsibility and power to move forward is within each and every one of us.

If you are using AI for what should be a core competency, and AI is adding value, it means that you are below average.

REMINDER: That which is most trustworthy, wins.

On this day, 55 years ago in 1971, President Richard Nixon suspended the convertibility of the U.S. dollar into gold. This suspension effectively ended the international gold standard framework of the Bretton Woods system.