It’s interesting how the financial choices of an individual on average will be chaotic and even psychotic.
That should scale as you add more and more individuals—but somehow when you add ALL individuals we just call it “the economy” and talk about it like it’s predictable.
Just got done reading Hayek’s Good Money series. Very impressed with his foresight from over a century ago.
According to Hayek, a good money will contain the properties:
1. Decentralization of Money Creation
2. Predictable monetary policy
3. Non-Inflationary Growth
4. Competition in Currency
5. Sound Money
6. Limiting Government's Role
7. The Role of Gold Standard
8. Integration of Monetary and Capital Theory
I wore my @OCEAN shirt today and kept getting hit on by beautiful women. I’m happily married but it is interesting how much ladies appreciate responsible transparent mining…
So banks got bailed out this year with over $120 billion and climbing in debt they have to pay back to the FED in march… any predictions what happens in march?