No. of Recommendations: 6
never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part.Fiat currency is being discussed here, so I will leave this briefly. This video is largely accurate:
https://www.youtube.com/watch?v=5RpPTRcz1no If you want to dismiss it, look at a16z investments, look at the 10 year history of the people involved and their relationships. Destroying the USD to replace it with cryptocurrency is a desired outcome to achieve a strategic goal in their view of an idealized technocracy. A lot of seemingly irrational actions will make sense in this framework.
Anyway, I thought it was a nice annual letter so far. I haven't gotten past the introduction, but am looking forward to the Insurance section.