Hey <<First Name>>
I'm convinced that in order to be resilient, a Sovereign Individual must take personal responsibility for educating themselves. This includes paying special attention to global finance. Why?
Because the consequences of geopolitical policies greatly impact the value of assets around the world. In order to maintain resilience, you need to understand how these decisions will make a difference to your bottom line.
This week, I spent time analyzing how the US Dollar's status as a global reserve currency impacts the world. And specifically, how the upcoming US election policy might benefit a global currency like Bitcoin.
I also share some information on the impact that remote work and the pandemic are having on cities and businesses. More to the point, I focus on what cities can do to attract the growing number of remote workers to their locations.
In the roundup, I share a surprising heat map of where unemployment rates are highest in the US, a proper definition of inflation, and briefly touch on a favorite topic of mine (preference falsification).
Preference falsification becomes an increasingly important topic in the digital age full of cancel culture.
Why US Financial Policy in 2021 Benefits Bitcoin -
We are entering a prolonged period where real interest rates are negative because of monetary and fiscal policies around the world. And these policies are eroding the value of money.
This environment benefits the digital currency bitcoin, which is an emergent store of value. Bitcoin offers the type of interoperability important to a global digital world. Moving forward, US policy that impacts the value of the dollar will directly influence the value of bitcoin.
But why do I think this is important to follow? Because Sovereign Individuals are global in nature. To be resilient, they must be able to conduct commerce online and across multiple sovereign jurisdictions. Bitcoin is one method of doing so that is out of the control of nation-states.
Remote Workers are Moving, What Should Your City Do? - As jobs transition to permanent remote work, employees are re-evaluating their preferences. And some are deciding to move. In this article, I cover some of the unique programs cities, states, and nations are using to attract these workers.
I also propose corporate partnership strategies (like partnering with Airbnb) these governments can use to attract new residents.
A Roundup From Around the Web
New Yorkers are three times more likely to be jobless than Nebraskans - "Employment in some states is back to pre-pandemic levels, while others are at mass joblessness levels surpassing the 2007-09 Great Recession."
Defining Inflation- This is a heavy read but understanding inflation, its causes, and the impacts it has on the economy are important for protecting the value of your assets.
"people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise."
But here is the bottom line: the definition above is an inaccurate view of inflation and frequently results in bad economic solutions. Instead, inflation should be defined as the increase in the supply of money which can result in a rise in prices.
"Moreover, the beneficiaries of the newly created money--i.e., money "out of thin air"--are always the first recipients of money, for they can divert a greater portion of wealth to themselves. Obviously, those who either don't receive any of the newly created money or get it last will find that what is left for them is a diminished portion of the real pool of funding."
When the money supply is increased, the initial recipients of that money have a greater benefit than those that receive it later. Ie: in the pandemic, printed money overwhelmingly goes first to businesses and then to individuals.
The Spiral of Silence - "Our desire to fit in with others means we don’t always say what we think. We only express opinions that seem safe."
An interesting read on why we sometimes withhold our opinions from the people in our lives and what it means for public discourse.
1. Our views of public thought may not be accurate
2. The chance of getting into a disagreement can lead us to withhold our opinion entirely.
3. Sudden shifts in mainstream thought may simply be a result of the spiral of silence being lifted.
4. There can be a loud minority that dominates public thought and influence.
A phrase I've been thinking about lately -
" you can mine for gold or you can sell pickaxes"
See you next week.