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No. Pets.com was just one example of a ridiculous phenomena where people were throwing ".com" at the end of something and idiots who had no idea what they were buying threw money at it. People just got caught up in a speculative mania. FOMO. Of course there were companies that survived and...

This is exactly the kind of antisocial behaviore crypto encourages. Regular people not involved in criminal activity do not need instantaneous, irrevocable transfer of funds. The design characteristics of many of the leading cryptos read like a feature wish list for extortionists, money...

If you look at the recent spreads between paper and physical it seems to have something shady going on. I suspect the play if you're wealthy enough right now is in buying comex silver contracts. If the paper vs physical diverges again, take delivery, melt it down and sell 1 oz bars. Or if...

People say things like this a lot but they don't really try to demonstrate it. Mathematically, it's not really so.

The fun thing is that it can't. Even if their wildest dreams come true, it's doomed. 1) There's not enough assets globally to support that price. 2) When you hit market saturation, Bitcoin will be able to grow no faster than global GDP. That means best case you get the performance of an...

The funny thing is, it's not even a ponzi scheme because they don't even bother to lie about it being backed by assets.

“Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.” As for car insurce, illegal immigrants drive around all the time without insurance and I have yet to see the left complain about it let alone actually do something.

You don't need to take it away, just allow a phase out/opt out. Imagine if making a 10% 401k contribution allowed one to redirect their SS contribution into their 401k. As for "taking it away" how much debt that supports SS have Biden "forgiven" without a peep from the AARP et al? Most people...

Misstep my ass. Execs who do this should serve jail time. But of course Elon musk is the one who's pay they'll go after not this guy.

Why? What makes Bitcoin different? What makes you think that Bitcoin has some special unique property?

No because those exact people vote for deficit spending their whole lives. People wanna have it both ways, they wanna run up the credit card bill their entire working lives and then pretend that they actually saved something through pure accounting fantasy. The best thing we could do is give...

Enron only went bankrupt once. Whether or not some very specific things have already happened before is not the best way to look at risk. From what I could find OCC has $232 billion in "margin held" at the end of 2023 and the backstop of a $16.9 billion clearing fund. I could not easily find...

Sure, but it's not fractional reserve. It's more of a depository like DTCC.

Actually, he specifically pointed out that wouldn't happen "many of OCC's member firms are clearing subs set up to minimize this portion of the liability. " As in, there's a sub corporation specifically to limit their exposure to OCC.

Maybe financial products based on treasuries will. But if you've got an actual t-bill in your name I don't see how. I'm not talking some end of the world catastrophic event. I'm talking you basic once every 20 years market crash. Not even a 100 year crash. In the scenario I'm talking about...

Justy opinion... I'll argue otherwise on the credit risk. OCC is a private company and apparently there is no insurance. Some of the articles point to the OCC credit rating being similar to that of the US govt but I consider that a pretty disingenuous argument. These are the same credit...

Yeah. @MarkBrown had a better link than the first. I still have my doubts Wouldn't 1 month treasuries held to maturity by state tax free? "Interest from Treasury bills (T-bills) is subject to federal income taxes but not state or local taxes, and is reported on Form 1099-INT"...

If you think seriously about this there are answers. Mostly, you do it chemically. You take that energy and you use it to cause some energy consuming process to take place. Then you store the resulting products. A simple option would be producing liquid nitrogen. Your consumable inputs are...

I looked at this a bit...couple comments 1) I think the risks is significantly higher than they imply. You are essentially buying options with some unknown counterparty with OCC as the theoretical backstop if they default. Default by the counterparty certainly seems much more likely than...

So why look at this vs SGOV, or just buying a tbill which would be about as low risk as one can get?