First Time In 10 Years I've Seen This In Bitcoin

1971, Nixon closes the gold window.

The dollar stops being a receipt for something and becomes a promise from someone.

1978, the Supreme Court decides Marquette, a bank in Nebraska, gets to charge Nebraska's interest rate to a customer in Minnesota, where the legal cap is lower.

Every usury law in America becomes decorative overnight.

And the card companies pack up for whichever state lets them charge the most.

That rate in your wallet isn't a market rate, it's a legal address.

1982, the SEC hands corporations a legal shield for buying back their own stock.

Buyback volume triples in the first year.

Your raise didn't disappear, it got repurchased.

Interesting again, as a Bitcoiner, Michael Saylor just said, or was it a few years ago, people should buy Bitcoin, companies should buy Bitcoin instead of repurchasing their stock.

And here we are today.

1994, the Regal-Neal Act.

The walls between states come down and the mega bank becomes possible.

1999, Graham-Leach-Billy.

The Glass-Steagall wall dies and your checking account meets the trading desk.

That's fun.

2000, the Commodity Futures Modernization Act.

Derivatives walk out from under regulation entirely.

And eight years later, we all find out what was in that pile.

Then, of course, 2008.

And 2008 wasn't a crisis.

2008 was a harvest.