Do You Believe in the Fed’s Perpetual Motion Machine?

[] (It could be costing you big.) [View in browser]( [View in browser]( [] From the Desk of Don Yocham: [] From the Desk of Don Yocham: [] Very intelligent people can build compelling logical constructs based on a fallacy. When you’re good at it, they call you a philosopher. When you’re great at it, you get a job as a consultant. And when you create logical fallacies with money, you get to a be a central banker. What’s the primary central banker fallacy? Centrally planned money provides more price stability than competitive markets can alone. But the truth (and I don’t know why this still must be pointed out after being provably false for decades) is that centralized decisions fail. Whether the price of money or five-year plans, central planning only creates more problems. And they do so without solving the problem they intended to solve in the first place. Central banking’s intellectual foundations ignore the incredible power of choice and competition to create and disseminate information through price discovery. To ignore this power is like believing in perpetual motion machines. [Which reminds me of something Kurt Vonnegut once wrote…]( [] [Signature Don Yocham] Don Yocham [] PS> For those of you that reject the logic upon which central bank fallacies are built, [join my Prosperity Pub Community over in Telegram.]( You will learn ways to make their errors work for you. While you’re at it, [join The Daily Pick.]( For only $9 a month you get a trade a day. As you’ll see when you join, these trades don’t depend on the Fed’s ability to centrally plan success. [] Very intelligent people can build compelling logical constructs based on a fallacy. When you’re good at it, they call you a philosopher. When you’re great at it, you get a job as a consultant. And when you create logical fallacies with money, you get to a be a central banker. What’s the primary central banker fallacy? Centrally planned money provides more price stability than competitive markets can alone. But the truth (and I don’t know why this still must be pointed out after being provably false for decades) is that centralized decisions fail. Whether the price of money or five-year plans, central planning only creates more problems. And they do so without solving the problem they intended to solve in the first place. Central banking’s intellectual foundations ignore the incredible power of choice and competition to create and disseminate information through price discovery. To ignore this power is like believing in perpetual motion machines. [Which reminds me of something Kurt Vonnegut once wrote…]( [] [Signature Don Yocham] Don Yocham [] PS> For those of you that reject the logic upon which central bank fallacies are built, [join my Prosperity Pub Community over in Telegram.]( You will learn ways to make their errors work for you. While you’re at it, [join The Daily Pick.]( For only $9 a month you get a trade a day. As you’ll see when you join, these trades don’t depend on the Fed’s ability to centrally plan success. [] 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](