Thanks, James. I am telling you, getting into Bitcoin has introduced me to thinkers like you, and in my early 50s, I finally can wrap my mind around “Macro” - which I had never heard of before BTC. I feel like I have a fighting chance to plan for what's coming down the pike and plan for the long term. Keep up the fantastic work, it is clearing up the financial fog for a lot of folks.
I have been reading and following you for a long while, and want to thank you for the great content. I believe my introduction came via an interview with Preston Pysh, or Peter McCormack or Natalie Brunell not sure which, but thanks to them as well for the introduction.
That said, I like many in your following need to get this message of truth out to the power brokers in our system, i.e., our elected officials. To that end, below you will find a letter that I have drafted and sent to Congressman/Senators. The letter includes a link to this issue of the Informationist as I believe it would be great for our elected officials to get educated as well. Please feel free to share this letter with anyone and encourage them to copy or edit as they see fit to start a "correspondence movement". We are not powerless!
Here it is:
Dear Mr. Bennet,
I'm sure everyone would agree that "good decisions/legislation" require good information.
This week we are witnessing the failure of First Republic Bank (14th largest bank in the nation) despite 130 billion in capital infusions since the SVB failure in March.
These failures are just symptoms of the structural problems/disease inherent in our monetary system, and there is no more pressing issue before congress than understanding the problem before legislating a solution.
While this link (https://open.substack.com/pub/jameslavish/p/interest-rate-risks-are-collapsing?r=exxlp&utm_campaign=post&utm_medium=email) will give clarity on “interest rate risks” and how they have underscored the insolvency of those banks (and many more to come), the real problem is excessive debt/leverage in our system (public and private).
Here is a link to the Congressional Budget office’s own report that graphicly shows the “discretionary” spending that congress just passed for 2023 https://www.cbo.gov/system/files/2023-03/58890-Discretionary.pdf . How does congress sleep at night knowing that the CBO projected deficit for fiscal year 2023 (based on the first 6 months of data) is going to be 2 trillion dollars.
This type of fiscal deficit comes in the form of debt shouldered by the US tax payer. To be blunt, we are quite literally being monetarily enslaved by our elected officials.
Congress is about to engage in the perennial “debt ceiling” debate, and yet everyone knows that the ceiling will be increased. Why? Because not doing so will initiate a melt down of the world financial system. Such is the burden of being the “world reserve currency” and “world reserve asset”.
Currently there is no choice but to raise the ceiling; however, there is a choice about changing our future fiscal behavior so as to avert the impending debt spiral that is/will destroy our nation.
My first ASK: Please make sure any raising of the debt ceiling is tied to a real budget to constrain/reduce spending. This is the only way out.
My second ASK: Fall on your own sword, be brave, and do what is in the best interest of your constituencies even if that might jeopardize your re-election.
I am asking even as I remind you that you work for us.
Mark R. Link D.D.S.
Thanks for the Easy Break Down
Love My Sunday Morning Reads...
Also love how i sleep comfortably knowing i have Gold Silver & Bitcoin
Protected by Brass 😉
Great write up! I gave this to my dad (74) to read and said read this if you want to really understand what’s going on with the banks! He also liked it, so the next step is to have him subscribe 😄
You can go to Treasury Direct.gov and set up an account directly with the US treasury. It is a piece of cake and takes about 10 minutes. Hope this helps.
If there is a technical default with the debt ceiling and dip in the traditional market do you also expect a dip in BTC? or maybe the opposite -people will flock to BTC and price will go up if there is a technical default? Thanks
Where can the average Joe acquire short-term US Treasuries and Bills? Is this typically done through institutions? Me personally, I’ve been holding in FDIC insured high yield savings account.
Are they evil or incompetent? That’s the question right. If an idiot like me can figure out some of these basic concepts, you’d have to rule out incompetency, right?
But then again, I have a buddy who got his MBA at the Harvard Kennedy School and has a Masters in economics, and he doesn’t see things this way. To be this incompetent, the whole system would have to have their “melon in the sand” as James states. Are none of them on Twitter or reading these Substacks?!
Or did I just happen to be open minded enough to be accepting of these takes?
Or..... they’re evil
Hello from Mexico James! What is the best way to invest in gold silver?