The School · Season One · Shelf 01 of 8

Foundations. How money and the world actually work.

7 courses39 lessons20 open
01

The History of Money

From shells to gold to fiat to Bitcoin, and why money keeps changing.

  1. 1.1What money is for, and the three jobs it has to doRead
  2. 1.2Gold, and why the whole world agreed on a rockRead
  3. 1.31971: The Day the Dollar Stopped Being a ReceiptRead
  4. 1.4Debasement: How Every Fiat Currency EndsRead
  5. 1.5Bitcoin as the Next Chapter, Not a TradeRead
  6. 1.6What Happened to the Dollar?Read
02

The Machine

How the economy works: credit, debt, productivity, the short cycle and the long one.

  1. 2.1Transactions, Credit, and Why Spending Is Someone Else's IncomeRead
  2. 2.2The Short Debt Cycle: Five to Eight Years, Every TimeRead
  3. 2.3The Long Debt Cycle: The One That Takes a LifetimeRead
  4. 2.4Productivity: The Only Thing That Grows Without BorrowingRead
  5. 2.5Where We're in the Machine Right NowRead
03

The Cost of Money

Rates, the discount rate, duration, the curve, and the tide called liquidity.

  1. 3.1The Discount Rate: Why a Dollar in 2035 Is Worth Less TodayRead
  2. 3.2Duration: Why the Future Moves First on Rate DaysRead
  3. 3.3The Yield Curve, Read Like a Weather MapRead
  4. 3.4The Fed's Two Tools: The Rate and Its WordsRead
  5. 3.5QE, QT, and M2: The Tide That Lifts Every AssetRead
04

Inflation and Debasement

CPI versus real life, the Cantillon effect, and why everything costs more.

  1. 4.1What CPI measures, and what it leaves outComing
  2. 4.2The Cantillon effect: who gets the new money firstComing
  3. 4.3Assets versus wages: the gap that explains the last fifty yearsComing
  4. 4.4The hidden tax, and who pays itComing
  5. 4.5Why Is Everything So Expensive?Read
  6. 4.6Why Doesn't Inflation Feel Like 3.5%?Read
  7. 4.7I Did Everything Right. So Why Am I Behind?Read
05

Macro in Practice

Reading the tape: yields, the dollar, oil, gold, the VIX, and what moves what.

  1. 5.1The five numbers to check before the openComing
  2. 5.2Oil is an input cost: how a barrel becomes a bond yieldComing
  3. 5.3The dollar and everything priced in itComing
  4. 5.4Priced in: reading the reaction, not the headlineComing
  5. 5.5The calendar: jobs, CPI, the Fed meeting, earnings seasonComing
06

Geopolitics and Power

Energy, chokepoints, sanctions, the dollar system, the Gulf, China.

  1. 6.1The dollar system: why the world holds American debtComing
  2. 6.2Chokepoints: Hormuz, Taiwan, the cables, the chipsComing
  3. 6.3Sanctions as a weapon, and what they did to trustComing
  4. 6.4China, the U.S., and the race that decides the decadeComing
  5. 6.5What Is the War in Iran Actually About?Read
07

How to Think

Base rates, second-order effects, incentives, expected value, the mental models.

  1. 7.1Base rates: what usually happensComing
  2. 7.2Second-order effects: and then whatComing
  3. 7.3Incentives: show me the incentive and I'll show you the outcomeComing
  4. 7.4Expected value: thinking in betsComing
  5. 7.5Inversion: how not to loseComing
  6. 7.6The map is not the territory: models, and their limitsComing
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