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Olduvai III: Catacylsm
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Is The Credibility Bubble Bursting?

Is The Credibility Bubble Bursting? In a fiat currency system, perception is, by definition, everything. Paper money has no intrinsic value. So the people saving it and accepting it in exchange aren’t expressing faith in the money itself but in the competence and honesty — and power — of the institutions managing it. Let that […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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