Fraud doesn’t just enrich the fraudsters. It also hurts everyone via inflation, because Fed money printing is ultimately what enables wasteful and fraudulent spending at the federal and state levels. In a system rife with fraud, you must not be allowed to protect yourself. There can be no life-raft. Because once people start to opt-out, the fraud’s beneficiaries (elected and otherwise) risk losing the economic system that sustains them. Alan Greenspan’s 1966 essay “Gold and Economic Freedom” explains it: In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. It’s easy to see why certain politicians in DC have so vocally opposed BTC since its inception.

Longtime readers know that in 2022-23, I posted a lot about Fed’s 2% inflation target. My stated thesis was: 1. The target would eventually be raised. 2. Initially this would be tacit (meaning: unspoken but understood by market participants). This has since become known as “running it hot.” 3. Assets (especially ones offering protection) would sniff this out long before a new inflation target became official. This was one of my reasons for owning BTC and gold and avoiding bonds (below was posted in 2022 at BTC 20k and gold $1650). We can now put a ✅ next to #2 and #3. Watch #1 in 2026. This would change built-in assumptions in institutional investment models that have existed for many years. For many of these investors, it would also make an asset like BTC dramatically more attractive over the longer term.

Gold $4500+