When I was 13, I planned my death date. When I was 13, I learned that I could not afford to live past age 79. Now, it was not because of my health, not because of my genetics. It was because of a spreadsheet. This spreadsheet. So, when I was 13, one day I was sitting at the kitchen table with my parents and I made the comment that I would really like to be a history major. I didn't care about just getting a job to make money. And they looked at each other, nodded, and said, "Well, no, you do need to care ab ...

“You’ve got to work with governments. There’s no way around it.”Twelve years ago, we set out to make the internet of money a reality.@semafor's profile from @Edgecliffe of our CEO, @jerallaire, tells the story of the long road to earning trust, driving policy, and building a safer, more open financial system.This milestone belongs to our entire team, our partners, and the policymakers who helped make it possible. While the work is far from done, the “internet financial system” is closer than ever.Read the f ...

The most important thing is uh um the basics. Educate your children well so that they can be productive and they're civil so that they work well together. Come out to a civil society in which there's productivity and that there's a good capital markets and a good environment so that there's good income and get the basics, the fundamentals right, meaning earn more than you spend, have more assets than liability, a good income statement, a good balance sheet.If you do those basic things, most people productiv ...

Economic System Concerns - The global financial system is under unprecedented pressure due to soaring inequality, massive debt, rising living costs, and economic uncertainty [1] - Capitalism faces a serious test due to financial repression, an invisible tax on savers where interest rates are kept below inflation [4][5] - Consumer debt is ballooning, with total household debt in the US topping $18 trillion and credit card debt surpassing $1 trillion with interest rates averaging over 20% [9] - Real wages have barely budged since the 1970s, while assets like real estate and stocks have soared, benefiting the wealthy and driving inequality [12][13] Historical Context and Evolution of Capitalism - Capitalism emerged from feudalism, driven by entrepreneurs and innovators, and was intellectually championed by Adam Smith [17][18] - Capitalism has adapted throughout history, including interventions by Teddy Roosevelt and Franklin Roosevelt, and the post-World War II welfare states [22][23] - The dismantling of regulations in the 1980s and globalization led to imbalances that ignited the 2008 financial crisis, followed by unprecedented monetary stimulus [24] Challenges to Current Capitalism - Weak growth, extreme inequality, technological displacement, and digital rent extraction combine into what many call late capitalism [37] - Growth is lacking major innovations to drive broad-based prosperity, leading to reliance on artificial means like QE and low interest rates [29][30] - Automation and AI are displacing jobs, potentially making millions economically irrelevant and creating a problem for consumer capitalism [33][34] - Platform economies dominated by giants like Amazon, Apple, and Google are generating revenue by controlling essential services and extracting rents, stifling genuine competition [35][36] Potential Alternatives and Solutions - Potential alternatives include a resource-based economy, universal basic income (UBI), decentralized crypto-based economies, and reformed capitalism [39][40][44][46] - Reformed capitalism could involve breaking up big tech monopolies, closing loopholes for corporations and billionaires, and investing in education and infrastructure [47] Investment Strategies for Economic Shifts - Traditional financial institutions, especially banks and insurers, are particularly exposed due to financial repression [53] - Consumer-facing industries are at risk due to eroded consumer purchasing power [54] - Hard assets like gold, silver, commodities, and selected real estate may perform well under financial repression and inflationary conditions [56] - Industries aligned with government spending priorities, such as infrastructure, energy, healthcare, and defense, may offer opportunities [57] - Decentralized cryptos like Bitcoin and Ethereum may serve as hedges against financial repression and inflation [58] - Geographical diversification and active portfolio management are crucial in navigating the uncertain economic environment [60][61]

We've got some big decisions to make as clubs. Um uh which direction are we going with our financial system. Uh it's a good time actually because this is the start of our new commercial term.So we're in growth. Um we've got three years ahead of us of fixed revenue all going in the right direction. So clubs can continue to invest in players and managers from all around the world.blend it with their homegrown talent. ...

Crypto’s core innovation is internet capital markets accessible to anyone, anywhere 24/7Project Crypto brings us one step closer to a more open and transparent financial system for allMuch more work to do 🫡U.S. Securities and Exchange Commission (@SECGov):.@SECPaulSAtkins gave remarks at @A1Policy today on Project Crypto, an SEC Commission-wide initiative to modernize the securities rules and regulations to enable America’s financial markets to move on-chain. https://t.co/Uvo8sjVRtD https://t.co/R4Znno9mSm ...

Financial System Update - The UK financial system needs updates when it's not working for many people [1] Change Management - If the financial system is functioning well, no changes are necessary [1]

Sam, if uh Bitcoin is going to replace you something like gold, which is what, you know, like 15 to to 20 trillion, what's the big number that um Ether uh ETH asset is going to replace. I think it's 10 times bigger at least to 10 times bigger than the gold markets. It's the entire financial system.The entire financial system is kind of hard to put a number on, but it's certainly bigger than the gold markets. It's really almost infinite. And it's just now that Ethereum is coming out of the dark ages.And that ...

Macroeconomic Critique - Macroeconomics has made little progress in a century, struggling with economic growth, fiscal, and monetary policy determinants [2] - Economists were surprised by the inflation of late 2021 and 2022, and recurring banking crises, due to misinterpreting central bank policies [3] - Economic models often lack banks, leading to failures in understanding banking crises [5] Money Creation and Banking - Most people incorrectly believe the government or central bank creates the majority of money [8] - Banks create most of the money supply through credit creation, not by lending deposits [9][10] - Banks create money by issuing loans, which legally establish an accounts payable liability to customers, represented as customer deposits [11] Banking System Structure and Economic Impact - A banking system dominated by a few mega-banks can lead to asset price inflation and boom-bust cycles [12] - Decentralized banking systems with small local banks lending to small firms can foster growth without inflation and asset bubbles [13] - East Asian economies achieved high growth through decentralized banking systems focused on productive business investment [14] Growth and Sustainability - Economic growth is a statistical fiction, not a physical reality, and is not inherently harmful to the environment [17] - The concept of economic growth is used by bankers to maximize interest charges on national debt [19] Central Bank Policies and Inflation - Quantitative easing (QE) policies have different effects depending on implementation; QE1 cleans up bank balance sheets, while QE2 boosts the economy [20][21] - Implementing QE2 in 2020, when demand was reasonable but supply was restricted, led to inflation [22][23] Policy Recommendations - Advocates for preventing centralized systems like central bank digital currencies, which could lead to less growth and prosperity [24] - Encourages the establishment of many small banks to decentralize the financial system and promote economic growth [24] - Decentralizing the financial system can create job opportunities in rural areas and support government policies to increase fertility [25][26][27]

Industry Impact - The report discusses how something could reshape the financial system [1]