If we ever get to a bitcoin standard, it is going to be a gradual process of increasing adoption and some things that don't look likely today could look more likely in the future. If you really believe that governments were only able to move away from the gold standard due to it being more convenien...

Of course the total bitcoin is not going to increase, ever. However, I don’t think you can really comapre it to physical items. You can’t increase the calories in either of those two slices of pizza. Bitcoin is abstract, however, and the value is perceived. The value of those new pieces of freshly ...

The price is all about the demand. This would only be true if the liquid supply was only provided by the miners. One could argue that below a certain price the newly mined bitcoin could become insignificant relative to net inflows. Price is set on the margins so I think as price goes higher there w...

My belief is that you want to be fully exposed to beta/market risk/equity premium/systematic credit risk and that any attempt to tilt could be detrimental to the PP on a risk adjusted basis. If you were equities only, my understanding is that theory suggests you can improve your capital efficiency (...

When you first wrote this my thoughts were, if you're going to commit to buying a 1 year T-bill every month and spend the maturing one, then it's not really doing much since we're dealing with such short duration they are basically the same thing. It was where you get the new cash to purchase the ne...

Thanks for sharing this article. I agree with a lot of it, especially on the point about storing energy or past "work done" in units of a monetary system. For bitcoin to work as a store of value, bitcoin has to increase in adoption meaning that there has to be a number of miners who will s...

The PP isn't reliable enough to provide a 1 year positive return over cash in a FDIC savings account. This is why I do the same thing but 5 years out instead and make sure that the cash you are spending isn't part of the cash portion because like many have mentioned before, the cash serves a purpose...

4) Cryptocurrency is pure speculation. I'd only do it for the VP and would never rely on it to remain intact based on my 30+ years in information security. Virtually EVERY cryptographic system has experienced being broken or serious degradation to long-term security in significant ways. This includ...

Who on the forum has actually had the fortitude to stick with the canonical PP's allocation to long-term bonds? Just curious. I have stuck to the 25% long term bonds. At first it appears that having exposure to 10 to 15 year duration US treasuries is a sure way to lose purchasing power in a system ...

That's a good point, thanks Smith. I suppose even with 1/3 of the assets held under money market collateral that the risk of both the borrower defaulting and the value of the collateral crashing (which historically breaking the buck at 3% was already bad enough) at the same time is low enough not to...

Interested in CBIL, but I'm concerned that they don't have any financial statements released yet and their prospectus shows they have specifically appointed a securities lending agent (CIBC). Compared to CMR, which shows no income from securities lending as of its most recent financial statements, i...