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The Money Illusion

Kevin Lee

"Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess" ~ Irving Fisher

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Substack
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Latest Issues

Recent posts by this newsletter. Browse the email archive.

Solana: In Defense of Memecoins

"The competition in the market for Internet access had already produced a clear winner: America Online. In April of 1996, Steve Case, America Online's thirty-seven-year-old chairman, appeared on the front of Business Week lying atop a pile ...

9 months ago
2
0

An Introduction to Digital Asset Fundamentals

Dionysian Capital was started with the thesis that traditional methods of equity investing could be applied successfully to digital asset markets. However, a very common question we receive is “What does it mean to be a fundamental investor...

10 months ago
0
0

August 2024— Recession Worries and the Yen Carry Trade

Markets across the world have panicked recently due to a number of factors, most prominently a reaction to a lackluster July jobs report in which the unemployment rate increased to 4.3%, and an unwinding of the yen carry trade.

a year ago
1
0

Inflation Analysis — 2024

The recent April CPI inflation report showed inflation staying firm at a 3.5% annualized rate and has sent equities and other risk assets tumbling downwards. Bond yields have shot up, and traders are now revising their forecasts downward fr...

a year ago
0
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  • Kevin Lee
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