"This Is So Messed Up!"

[] (question money) [View in browser]( [View in browser]( [] From the Desk of Don Yocham: [] From the Desk of Don Yocham: [] When I was a kid, a “night out” for my parents was a game of canasta after dinner with friends. It was the 70s. I was about 8 years old. And I would hang out in the kitchen trying to follow and occasionally horn in on the conversation (which my parents never seemed to discourage). The talk of the table one night in particular has stuck with me over the last 40-plus years — they were complaining about inflation. My dad was an offshore oil man and the friends playing canasta were farmers. And, looking at a chart of oil prices and squaring them with what is most definitely an imprecise memory, I’d guess that oil was about $70 per barrel at the time — or $264 per barrel in today’s prices. They were worried about the price of everything and I remember taking three things from the conversation. First, inflation means the cost of stuff is going up too fast. Second, Jimmy Carter was basically useless. Third, even though they were having a fun time and not getting too serious (I wish I had my parent’s gift for keeping things light. I’ve been accused of being more like [John Snow at a dinner party]( there was a twinge of hopelessness in the air. Well, oil ultimately hit $138 bucks per barrel. That would be over $500 today. Not long after that game of Canasta, the Fed did what it does — raise rates to cure the disease of too much money that it caused in the first place. The Fed ultimately raised interest rates to 20% (not that I knew that at the time), oil prices bottomed out at $20 per barrel, and that soon cost my father his career as a petroleum engineer (that I did notice). Talk about [messed up.]( Fifteen years or so later, I too was at the receiving end of Federal Reserve meddling when they began hiking rates at the end of 1993. I processed loans for a mortgage company right out of college and nothing shuts a mortgage pipeline down like higher rates. Within five months, me and 80 other people were out of a job. And I guess that’s when I really started down the path of questioning money. You see, for most of us, money is just something that’s there. It’s pretty utilitarian, and the unending march of inflation mostly escapes our radar — except when it’s at a 40+ year record high, like in the current economic climate. One day eggs cost a little more, next it’s home heating fuel, then cable internet or gas… little by little, the value of our hard-earned dollar is eroded. It’s only when one starts to pay attention to it and question it, that we have one of those “This is so messed up!” moments. Today’s geopolitical climate should have you questioning everything. But you should question money most of all. Do that, and you will learn that the central bank has this power because it acts as an intermediary between you and your money. But with the new, permissionless world of crypto — and especially with its soon-to-arrive Great Leap Forward — that power goes away… And it leaves the value of money to be decided by the invisible force that has always been its best steward — the free market. I've been pretty tight-lipped about crypto's Great Leap Forward up until now, but I’m just about ready to start sharing details. If you'd like me to keep you posted on the biggest crypto project I’ve been working on for the last few months… [Drop your email here]( and answer a few questions so I can get to know more about you and your experience with cryptocurrencies. In turn, I’ll be livestreaming a live crypto primer in our [Prosperity Pub Telegram channel]( this Wednesday at 4pm and I’ll send you all the details — and keep you up-to-date on all my other crypto events. [] [Signature Don Yocham] Don Yocham [] P.S. Take a look at [this guide]( we put together for you if you need help getting set up with Telegram so you can attend Wednesday's livestream. [] When I was a kid, a “night out” for my parents was a game of canasta after dinner with friends. It was the 70s. I was about 8 years old. And I would hang out in the kitchen trying to follow and occasionally horn in on the conversation (which my parents never seemed to discourage). The talk of the table one night in particular has stuck with me over the last 40-plus years — they were complaining about inflation. My dad was an offshore oil man and the friends playing canasta were farmers. And, looking at a chart of oil prices and squaring them with what is most definitely an imprecise memory, I’d guess that oil was about $70 per barrel at the time — or $264 per barrel in today’s prices. They were worried about the price of everything and I remember taking three things from the conversation. First, inflation means the cost of stuff is going up too fast. Second, Jimmy Carter was basically useless. Third, even though they were having a fun time and not getting too serious (I wish I had my parent’s gift for keeping things light. I’ve been accused of being more like [John Snow at a dinner party]( there was a twinge of hopelessness in the air. Well, oil ultimately hit $138 bucks per barrel. That would be over $500 today. Not long after that game of Canasta, the Fed did what it does — raise rates to cure the disease of too much money that it caused in the first place. The Fed ultimately raised interest rates to 20% (not that I knew that at the time), oil prices bottomed out at $20 per barrel, and that soon cost my father his career as a petroleum engineer (that I did notice). Talk about [messed up.]( Fifteen years or so later, I too was at the receiving end of Federal Reserve meddling when they began hiking rates at the end of 1993. I processed loans for a mortgage company right out of college and nothing shuts a mortgage pipeline down like higher rates. Within five months, me and 80 other people were out of a job. And I guess that’s when I really started down the path of questioning money. You see, for most of us, money is just something that’s there. It’s pretty utilitarian, and the unending march of inflation mostly escapes our radar — except when it’s at a 40+ year record high, like in the current economic climate. One day eggs cost a little more, next it’s home heating fuel, then cable internet or gas… little by little, the value of our hard-earned dollar is eroded. It’s only when one starts to pay attention to it and question it, that we have one of those “This is so messed up!” moments. Today’s geopolitical climate should have you questioning everything. But you should question money most of all. Do that, and you will learn that the central bank has this power because it acts as an intermediary between you and your money. But with the new, permissionless world of crypto — and especially with its soon-to-arrive Great Leap Forward — that power goes away… And it leaves the value of money to be decided by the invisible force that has always been its best steward — the free market. I've been pretty tight-lipped about crypto's Great Leap Forward up until now, but I’m just about ready to start sharing details. If you'd like me to keep you posted on the biggest crypto project I’ve been working on for the last few months… [Drop your email here]( and answer a few questions so I can get to know more about you and your experience with cryptocurrencies. In turn, I’ll be livestreaming a live crypto primer in our [Prosperity Pub Telegram channel]( this Wednesday at 4pm and I’ll send you all the details — and keep you up-to-date on all my other crypto events. [] [Signature Don Yocham] Don Yocham [] P.S. Take a look at [this guide]( we put together for you if you need help getting set up with Telegram so you can attend Wednesday's livestream. [] Disclaimer & Disclosures The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our [Terms and Conditions]( for more information. This email was sent to {EMAIL} by Prosperity Pub 495 Town Plaza | Ponte Vedra | FL | 32081 [Unsubscribe]( [] Disclaimer & Disclosures The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our [Terms and Conditions]( for more information. This email was sent to {EMAIL} by Prosperity Pub 495 Town Plaza | Ponte Vedra | FL | 32081 [Unsubscribe](