This article follows on from Keith Weiner’s response to Ted Butler’s Thoughtful Disagreement challenge. Below is a graph of all 130 gold contracts since February 1996, aligned by contract age in terms of number of days until expiry on the X axis of the chart and basis in percentage per annum on the Y axis. […]
Dear Mr Butler: In your article of 2 October, entitled Thoughtful Disagreement, you say, “someone will come up with the thoughtful disagreement that makes the body of my premise invalid or the price of silver will validate the premise by exploding.” I will take you up on your request. You state your case in this […]
We have covered many reasons why bitcoin is unsound and not money. It’s a ledger of unbacked liabilities. It is designed to have finite quantity but therefore indeterminate and hence volatile value. This makes it unusable for borrowing or lending and hence savings, but a great a vehicle for conversion of one person’s wealth into […]
