In the near future, everyone will have a personal account at the Federal Reserve.

bantam inc jack duval private investment office manhattan new york - digital dollar image

It's all about the ones and zeros.

This is the second post in my cryptocurrency blog series.  The first post can be found here. As I've discussed in other posts, the use of physical cash has been declining since peaking in 2008.  The coronavirus may put a stake through the heart of it.  Generally speaking, if you use a credit

card for payment, no one touches it but you, that’s a serious competitive advantage in the age of coronavirus. Cryptocurrencies are even less physical than credit cards.  Indeed, they aren’t physical at all. Well before the spread of coronavirus, the shift away from physical cash was going…

Debt used to serve the economy, now the economy services the debt.

bantam inc jack duval private investment office new york manhattan - jerome powell image

Jerome Powell, a former private equity executive, has no problem leveraging the U.S. economy.

This is the first post in a series on debt. Many market observers have watched the Federal Reserve’s (“Fed”) actions, and the subsequent market reactions, and have concluded that the Fed have undertaken to support the stock market.  This is an understandable conclusion, because the link appears to be impeccably causal:  when

the stock market declines, the Fed intervene and the market recovers.  While the timing of these events is true, I believe the causal link is misplaced. I believe the Fed are only concerned with government debt and making sure it is well maintained and, unbeknownst to them, that…

Negative yielding sovereign bonds are a form of capital confiscation and can be thought of as a stealth nationalization of the banks.

bantam inc jack duval multi-family office manhattan new york - Yield and Rates Table 2

Negative rates and negative yield curves made clear.

“The percentage you’re paying is too high priced. While you’re living beyond all your means/And the man in the suit has just bought a new car. From the profit he's made on your dreams." from “The Low Spark of High Heeled Boys”, by Traffic The world is now suffocating under a blanket of

negative yielding sovereign debt.  This phenomenon is perplexing to economists and laymen alike.  In this post, I’ll try to clarify how negative interest rates work and their implications. Chart 1:  Global Sovereign Debt Yields[1] How Negative Interest Rates Work Negative interest rates can be thought of as…