A “more” Worth Having
~ Draft ~Drive through Kentucky and tell me that farmers having hedge fund level ROI on a dollar saved over the past 100+ years would not have made a difference. Each mile tells the story of the forgotten fields and corporate-purchased family farms. This is what the destruction of sound money has led to… roofless barns leaning from the westerly winds, waiting for one more gust, their last breath to be no more. Their aged boards twisted from exposure, wanting for care, serve as an Ebenezer to the human cost behind it all. Farmers didn't forget how to farm, we changed the game… rigged it in favor of those closest to the spicket of the ever-expanding supply of freshly minted notes.
In one sense, when we look at the financial system of the world, we are breaking down a winning football game, critiquing the different plays and strategies… but we still won, even if we had to hit a few field goals to do it. Any critique of monetary policy or our global economic order should come with the plain observation that in most and many ways, we are now living in a better time than any other point in history. The greatest truths are held in the greatest tensions, and hot-dog is there a huge tension when it comes to the engine that drives the trajectory of human flourishing.
What got us here won’t get us there. There has to be a way to walk and chew gum… to have a fast-paced global market without bleeding the common man. It is possible, and it should be our goal to Y/Y increase win-win’s market share from win-lose.
We can and should stand on the shoulders of where we came from. We can inject even more liberty into capital markets, we can encourage more innovation, more risk. Everything worth doing at scale has always been and will always be a revelation in how to steward increased freedom. Absent this goal, we end up at the auction in Haarlem… and the oh so dark and memorable Tuesday.
