Your Map to the CryptoVerse

[] [View in browser]( [View in browser]( [] From the Desk of Don Yocham: [] From the Desk of Don Yocham: [] [Mental Model of the Emerging Economic Universe]( Here’s one way to paint a picture of the world. An economic world, but a world, nonetheless. This world took shape more than 70 years ago as it coalesced around fiat currencies. The Bretton Woods Agreement in 1944 was the spark. This postwar agreement pegged other currencies to the U.S. Dollar and made all dollars convertible to gold at a fixed rate of $35 per troy ounce. Onwards this system marched until 1971 when Nixon accelerated that shift by abandoning the dollar's convertibility to gold. The U.S. soon thereafter got Saudi Arabia to sell all their oil for dollars and the Petrodollar was born. The SWIFT global payment system came online at that time, and Bob’s Your Uncle, the US Dollar soon denominated almost all trade. Since 1971, fiat has truly rose ascendant. It dominates all economic activity. And while everyone felt free to move from one fiat currency to another, and conduct business however they want, everything was still in fiat. This fiat world is heavily gated. And at the gates stand banks, brokerages, and custodians. Unless you’re talking briefcases and smuggling in cash, there was no way to move money without working through gatekeepers. But a decade ago Bitcoin came to be. It birthed a decentralized universe beyond the existing order. [And that forced me to paint a new picture…]( [] [Signature Don Yocham] Don Yocham [] [Mental Model of the Emerging Economic Universe]( Here’s one way to paint a picture of the world. An economic world, but a world, nonetheless. This world took shape more than 70 years ago as it coalesced around fiat currencies. The Bretton Woods Agreement in 1944 was the spark. This postwar agreement pegged other currencies to the U.S. Dollar and made all dollars convertible to gold at a fixed rate of $35 per troy ounce. Onwards this system marched until 1971 when Nixon accelerated that shift by abandoning the dollar's convertibility to gold. The U.S. soon thereafter got Saudi Arabia to sell all their oil for dollars and the Petrodollar was born. The SWIFT global payment system came online at that time, and Bob’s Your Uncle, the US Dollar soon denominated almost all trade. Since 1971, fiat has truly rose ascendant. It dominates all economic activity. And while everyone felt free to move from one fiat currency to another, and conduct business however they want, everything was still in fiat. This fiat world is heavily gated. And at the gates stand banks, brokerages, and custodians. Unless you’re talking briefcases and smuggling in cash, there was no way to move money without working through gatekeepers. But a decade ago Bitcoin came to be. It birthed a decentralized universe beyond the existing order. [And that forced me to paint a new picture…]( [] [Signature Don Yocham] Don Yocham [] 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](