Two Very Stupid Ideas That Could Destroy the US Starting in 2025
“You fell victim to one of the classic blunders! The most famous of whichis, ‘never get involved in a land war in Asia,’ but only slightlyless well-known is this: ‘Never go in against a Sicilianwhen death is on the line!’” – Vizzini, The Princess Bride There are bad ideas. And then there are ideas you truly hope […]
Treasury Bonds: The Beanie Babies of Global Finance
You can put lipstick on a pig, but it’s still a Treasury bond. Forgive the jangled phrasing. But it kinda works. Per The Wall Street Journal, my old stomping grounds: America’s Bonds Are Getting Harder to Sell If you’ve been reading Field Notes for a while, this is not news. I’ve been writing about this for the better […]
What You Can Learn from a Home Depot Generator
Winter 2004. Home Depot. A sale on generators. Who needs a generator in the winter in south Louisiana? grab one and start pushing it toward the check-out line. “Really—a generator?” asks my wife at the time. “Yes,” I reply. “Really, really.” So, I whip out the American Express and moments later we’re the proud owners […]
Turning Crypto Wealth into Real Wealth…
“We’re not gonna roundtrip it this time!” That, perhaps, is the big takeaway from the Token2049 crypto conference I attended last week in Dubai. This year’s version drew thousands of investors and lots of big names in crypto, including Jeremy Allaire, founder of Circle, the company behind USDC, one of the world’s largest and most […]
My New Gold Price Mantra: $2,500 by 2025
We check in today on gold. It has climbed to yet another all-time high. Gold approaching $2,300 per ounce is troubling news for some… I mean, it’s fantabulous news for those of us who’ve been in the know for a while and have been methodically scooping up gold here and there to protect our portfolios […]
Dogs and Cats Living Together – And That Ain’t Good!
To quote Bill Murray from the classic movie Ghostbusters, it’s “dogs and cats living together.” The second part of his famous quote—”mass hysteria”—I’m reserving judgement on. For now, we’re stick with dogs and cats in cohabitation… The “dogs” and “cats” I’m referencing here are the yields on 10-year Treasury bills and the price of gold. Historically, […]
Wait, What? I’m a Self-Made Millionaire??
Somewhere up above, the spirit of my grandmother is smiling. See, while working on my taxes recently I decided that I needed to make an Excel spreadsheet to keep track of all my assets. I have various bank and brokerage accounts on four continents… and I have to file various bits of information about those […]
Maybe Bitcoin to $1 Million Isn’t Imagenative Enough…
Once upon a time, not so long ago, there was a question I cared about: Can bitcoin really hit $1 million? These days, I’ve tossed that question into the bin because of a more pressing query: Is there a limit to how high bitcoin’s price can go ultimately? The answer: No. The reason: Because there is no […]
The Dollar’s Unwinnable Fight
I wanna know when the fighting’s gonna start. That’s when the wealth accumulation begins. I’m referencing here the overly deployed quote attributed to Gandhi: First they ignore you.Then they laugh at you.Then they fight you.Then you win. You can see that the winning begins just after the fighting. We’ve already passed the first stage in […]
Land of the Indebted, Home to the Coming Recession
This is one of those “I told ya so” dispatches. To be clear, though, this isn’t to pat myself on the back. Or to rub salt in a wound. Instead, today’s words are a warning that all I’ve been writing to you about over the last many, many months is beginning to manifest—even as Fed […]