economics


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For decades, there have been two financial systems in America. In one, hedge funds and family offices walk into a prime broker, pledge their equity portfolios, and trade against that value across every asset class — never selling a share, never interrupting their exposure, never handing the taxman a realized gain

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Independence Week

“To all you [bankers], who are independent, throw your hands up at me.”


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Friedman Was Right, Just Mostly Misquoted...

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.