
Hello readers. As discussed at the beginning of this week, there are a lot of exciting things coming out of Notes on the Crises quite soon. At least a couple of them are coming this coming week. In the meantime however, I thought it was a good time to start running premium pieces from the Notes on the Crises archive on the weekends that newer readers might not be familiar with. This piece, published almost exactly four years ago, is an important one that I think has stood the test of time. Of course, we now know that the major players in Bitcoin are seeking to sustain it with the support of public money- a major inversion of Bitcoin's original raison d'être. I wrote about that in my piece near the end of February "A Scam Built Atop an Accounting Gimmick Wrapped in Bullshit: Why Visiting Fort Knox Is Not About Selling Gold but is About Buying Bitcoin".