The hottest Financial Systems Substack posts right now

Fischer Black believed that both money supply and price levels are based on collective beliefs rather than strict numbers. People accept money because they trust others will accept it too.
Inflation and prices are influenced more by market behavior and expectations rather than solely by money supply. This means prices can change based on what people think will happen in the future.
The relationship between money and prices might be less reliable than before. As people use less cash and more digital forms of payment, traditional ways to predict inflation might not work well anymore.

DeFi shows potential even after setbacks in the market. It's important to look at strong projects that survived tough times rather than getting caught up in hype.
Smart contracts in DeFi can reduce reliance on traditional banks. This helps eliminate certain risks and allows for faster transactions between parties.
It's crucial to focus on the real-world problems that DeFi aims to solve. Understanding these fundamentals may help in deciding whether to trust and invest in this technology.

It's difficult to determine if Bitcoin or Ethereum are in a bear or bull market by just looking at monthly returns.
Countries with high inflation rates might benefit from transitioning to crypto-based monetary systems.
There are signs indicating a potential crash in the US housing market due to factors like artificially inflated prices and high mortgage rates.

An accounting system is like a mental prison for decision making.
Accounting systems lack a natural unit of time, leading to difficulties in decision-making.
Most accounting stipulations prioritize convenience over accuracy.

DeFi is a new way to handle finance without banks, but it comes with risks like hacks and scams. Users need to be aware and do their research to stay safe.
Keeping your own private keys safe is crucial. The saying 'your keys, your Bitcoin' highlights that if you lose access to your private keys, you could lose your crypto forever.
Using hardware wallets and trusted protocols can help protect your funds. It's important to only use tested platforms and to follow good security practices to avoid losses.

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DeFi is too complicated for many people. Setting up wallets and understanding terms like 'yield farming' can be overwhelming.
There’s a perception problem with DeFi, as some see it as risky and full of scams. Building trustworthy and useful projects can help improve this image.
Many institutions are hesitant to adopt DeFi without clear regulations. They want to know how regulators will treat their activities in this space.

Creating a new currency by BRICS is not a practical idea due to various challenges and conflicting interests among member nations.
For a global reserve currency to be successful, it needs to address essential features like demand, liquidity, and market size.
Switching from the U.S. Dollar as the global reserve currency would require a significant shift in economic advantages and stability, making it a complex and unlikely change.

Financial censorship by institutions like banks and payment processors can hinder online freedom of expression by limiting transactions for individuals based on unrelated actions.
Major corporations, especially digital platforms, hold power to enforce effective censorship unlike states, making suppression of speech easier.
Cryptocurrencies like Monero and decentralized exchange systems offer potential solutions to combat financial censorship and empower users to have more control over their payments in a decentralized way.