Nassim Nicholas Tantrum has gone from endorsing my book to obsessively insulting me in public without once making any reference to my work.
Why?
Because I refused to join him on his insane cowardly hysterical crusade to shut down the planet with his friends at the WEF.
I was typing him a private message politely explaining to him why his "Precautionary Principle" is such a dumb idea.
He responded by blocking me, insulting me in public & then flat-out lying about why he did it the very next day.
It was the biggest mistake of my career to associate with this lying fraud. We were distant friends when he volunteered to send my book to a publisher & write the foreword. He submit his foreword without reading the book, at the very last minute, when it was too late to change it
His embarrassingly idiotic & irrelevant foreword contradicts the main premise of the book. He still has no idea what bitcoin is or what the book says & he saw writing the foreword as a free option allowing him to take credit for being into bitcoin without having to learn bitcoin
He still knows absolutely nothing about bitcoin (or economics) and his views on bitcoin are purely an ignorant hysterical emotional reflection of his relationship with me.
His recent tantrums confirm this.
He likes to shit on bitcoiners for not understanding trading, and yet still cannot show us how his expertise in trading has allowed him to outperform what bitcoiners do: 200%/year over the last decade.
It'd be funny if there weren't so many people becoming poor listening to him.
Many Lebanese in hyperinflation are ignoring bitcoin because they think this 'world expert on risk' has a point about bitcoin more profound than him just being an inflamed mess
Their currency is collapsing & their risk expert is telling them the only working life raft has no use
The lira is down ~80% vs the dollar in 2 years. The dollar is down ~90% vs bitcoin in that time. Bitcoin allows you to send money internationally without needing your bankrupt banks.
I suggest you ignore his tantrums until he can offer you a better working solution.
This isn't new.
Mr "Don't tell me what you think, show me your portfolio" has made his career picking on people who show their portfolio, like @CliffordAsness, while always hiding his.
The only public record of his trading strategy working, is that it sells books. He pretends to be an entrepreneur & risk taker, but he's just another washed up trader recycling ideas he doesn't understand to sell to people who want to feel smart. allenfarrington.medium.com/a-tale-of-two-…
It's the same hypocrisy that allows him & his WEF friends to demand the entire planet shut down to protect him from a virus, when he cannot even stop eating the industrial sludge that's made him so vulnerable.
Totalitarians are losers who want to control others because they can't control themselves
Instead of cutting down on pasta, he wants to force healthy people to breathe from dirty cloth & lockdown, destroying billions of livelihoods while he keeps selling books from home
I lost every bit of respect for this liar in 2020. I apologize profusely to my readers for associating with him.
I'll never forgive myself for turning a blind eye to his many flaws & letting him write the foreword to a book he didn't read so he could pretend he knows bitcoin.
The new version of The Bitcoin Standard will be out in a few months and will have a new foreword from the great @michael_saylor, a man of his word, with actual skin in the game.
Update:
Instead of responding to this thread, the hysteric chose to prove it all correct by declaring bitcoin a failure & pivoting to shitcoins!
At least with his new shitcoin ventures we'll get to compare his portfolio to BTC!
Taleb spent a decade terrorizing people on Twitter to sell books.
Then he attacked bitcoin & bitcoiners asked him to show how his portfolio returns beat holding bitcoin, so he locked his profile like a coward & Twitter is now free of his dumb tantrums.
When was the last time you found yourself supporting the complete destruction of the lives of 2.2 million people because you've been manipulated into believing in collective guilt like a criminal moron?
"Gaza will eventually turn into a city of tents. There will be no buildings"
You have to be a complete retard if you think the systematic destruction of Gaza is about targeting Hamas, which this Israeli government has worked hard to support over the years. This is just Israel's national sport: ethnic cleansing
~50% of Gaza's population is under 18.
~75% were unborn/too young to vote in the last election in 2006.
Do they all deserve to have their lives destroyed over that vote?
How would YOU like to be held personally responsible for everything your government does, forever?
Bitcoin fixes renewables by bankrupting all fiat governments that subsidize electricity from intermittent sources, forcing TV-watching virtue-signallers to come to terms with thermodynamic reality: a choice of hydrocarbons vs cold, darkness, poverty, primitiveness, & early death
Wind & solar are unpredictable & intermittent, so no sane engineer would ever connect them to an electric grid, whose entire point is to provide reliable power regardless of weather. Only fiat makes this insanity possible.
When sun doesn't shine or wind doesn't blow, the cost of electricity from solar & wind is infinite. Modern technology, from fridges to baby incubators, relies on steady power, which means solar & wind require backups for their entire capacity, which makes them entirely superflous
There is no inflation if you accept you are poorer!
#TheFiatStandard
"British households and businesses “need to accept” they are poorer and stop seeking pay increases and pushing prices higher, the Bank of England’s chief economist, Huw Pill, has said." theguardian.com/business/2023/…
See #TheFiatStandard hashtag for countless stories leading to the BoE's conclusion that you can fix inflation by learning to have fun staying poor
Fractional reserve banking would not survive in a real free market. It currently only exists because the Fed is a cartel with a monopoly on banking & currency, which effectively taxes full reserve banks to subsidize fractional reserve banking scams.
Currently, the fiat cartel rejects applications of any banks that want to offer full reserve banking, because if they did not, then the slightest problem in the banking system would result in a run on all fractional reserve banks to the full reserve banks
But more fundamental than the blatant cartelization of banking is the distortionary impact of inflation and deposit insurance, which is a tax on full reserve banks & a subsidy to fractional reserve scam banks, that makes it impossible for the former to compete with the latter
Promoters of the fractional reserve banking scam insist it's the inherent & inevitable form of banking. They fail to see how the fiat cartel makes it illegal for anyone to build a bank that's not fractionally reserved to protect their cartel from competition from solvent banks
"The free market chooses fractional reserve banking" takes the form of a private cartel with government monopoly protection telling honest bankers they would go to jail if they open a solvent bank that doesn't engage in counterfeiting.
Custodia isn't the first full reserve bank to be banned by the fiat cartel. The Narrow Bank had nothing to do with crypto and was also banned for no reason except that it would destroy insolvent banks
I feel dirty sounding bearish on bitcoin, but I do not think bitcoin will hit $1m in 90 days & and I do not think the dollar can possibly hyperinflate this quickly.
1- Even if @balajis is right on the extent of the banking crisis, a banking crisis is deflationary. When a bank goes bankrupt, the money supply is reduced. If ~all banks go bankrupt, then a majority of the money supply is destroyed & that would make hyperinflation less likely,… twitter.com/i/web/status/1…
3- This chart shows the fastest rates of inflation recorded in history, but these all came at *the end* of hyperinflationary periods, after a relatively slow start. Even in highly dysfunctional countries with decrepit monetary & financial institutions & no global reserve… twitter.com/i/web/status/1…