Dear Fellow Traveler, You might not know this, but I’ve worked as a ghostwriter for years. I started in financial publishing, helping a few stock-picking experts you probably know develop content. Over time, I graduated to more complex research while working heavily in academia. A few years ago, I started helping CEOs, Wall Street managers, RIAs, and others write their books... I’ve written a lot of books over the years. Some good ones, some okay ones, but now I’m onto something very different. I’m currently working on a book that has shifted my view of myself... It’s shifted my perspective on what matters to me. On purpose. On my drive. It was an incredibly well-timed assignment given developments in recent months. It forced me, after hours of interviews with the author, to confront uncomfortable things and choose if and why I’d continue operating in this financial publishing world. To reach that answer, I had to ask some questions. As I listened to my client propose a framework for finding real purpose in work and life, I had to really think… In what I do - in this world - I had to re-establish my core values. Some of these values don’t appeal to larger financial publishers, but they’re at the absolute center of why I’ve written over 1,500 articles on Substack in two years. So… without further ado… My North StarMy North Star is simple… Tell the truth about money and our deeply misunderstood financial system, regardless of who it pisses off. Not to make friends with Wall Street executives, not to get invited to Federal Reserve cocktail parties, not to get a job at a hedge fund, not to get a publishing deal, and not to build some cult guru following. It’s just to cut through the bullshit and explain how things actually work. Once we understand how things are working, we can take action. We can call the bottom of the market. We can avoid big selloffs. We can capitalize while those who are enriching themselves are as well. But we must start by being honest about how this system works. My Mission Is Your Financial Self-DefenseI have two missions that drive everything I write. First: show you how the game is rigged and teach you to play anyway. This is why I emphasize (and will need to increase my emphasis) on the longer-term, alternative strategies that help people build and preserve wealth, using history as a guide. Second: help you understand how money and power actually work so that you can protect yourself and your family from the inevitable consequences of financial manipulation and institutional incompetence. Notice I’m not promising to fix the system or lead a revolution. I’m trying to give you the tools to navigate reality as it exists, not as we wish it were. A lot of publishers won’t even touch this approach. They say I have to constantly be making stock recommendations or predicting where Apple will be in three months - as if that’s even possible given the unpredictability of liquidity conditions and public policy in six months. They want entertainment, not education. But I believe that both are possible… and it just needs to be done differently… The Values That Guide My WorkSo, what guides the work?
As an economist and history fan, I know today’s crises aren’t accidents. They’re patterns repeating with slight variations. The 2008 housing bubble had roots in the 1980s deregulation and 1990s policies. China’s current dominance traces back to systematic industrial planning that started decades ago. The “gradually, then suddenly” framework shows up everywhere once you start looking. Understanding these connections helps you see what’s coming next instead of being blindsided by “unprecedented” events that happen every few years.
I stress this quality. You are responsible for your health, yourself, and your wealth. While I explain systemic problems, I don’t encourage victimhood. This research is a guide for people who want to understand how things work and make better decisions based on that understanding. The system might be rigged, but that doesn’t mean you’re powerless within it.
I am constantly skeptical of authority… And when everyone agrees on something, I look for what they’re missing. My default assumption is that credentialed expertise often serves institutional interests rather than truth. Not because experts are evil, but because their incentives are aligned with maintaining current systems rather than questioning them.
I suspect that unnecessarily complex explanations often hide simple truths. Important concepts shouldn’t require advanced degrees to understand. When someone makes finance sound incomprehensibly complex, they’re usually trying to hide something or sell you something.
Financial ignorance in modern society is dangerous. People have a responsibility to understand how money works because the consequences of not understanding affect their families for generations. Why I Hope You Continue to Read ThisSo, why do I hope you’re reading this? Because, hopefully, you prioritize the following things:
When your 401k gets destroyed by “once in a lifetime” crises that happen every decade, you start wondering if the experts actually know what they’re talking about. I explain why these aren’t accidents - they’re features of the system designed to transfer wealth upward while socializing losses. Judge the system by the outcomes… Not by the intentions…
I recommended gold at $2,100 and silver at $25 when it was unfashionable and under pressure from the surge of interest rates in 2023. It was the first time that I was ever bullish on gold and silver. Gold and silver have doubled since then… largely because of forces many people don’t understand. I also explained China’s industrial strategy before it became obvious. I’ve been out ahead of every major selloff since COVID and have given readers access to clear rebound signals while everyone else is panicking… Readers who followed the analysis made money, but also avoided losses.
Many people feel something’s wrong but can’t articulate it. When I explain how the money printer systematically transfers wealth from workers to asset owners, it validates your lived experience of working harder for less while everything gets more expensive. I know you see this all around you. Or at least… I expect you’re starting to see it…
Hopefully, it’s fun. Financial writing is usually as dry as toast. I try my best to make complex topics memorable with humor... It’s easier to retain “you can’t eat derivatives” than a 50-page white paper on financialization. Anyway… that’s my hope here. And I felt it was better to share this with you… the reader… than have it sit on a pinboard or lie on a desk. Because if I’m not fulfilling everything that’s written above, I trust you’ll let me know… Someone needs to explain why the game is rigged without falling into conspiracy theories or political tribalism, because understanding how money actually works is the difference between financial security and financial disaster. That’s why I do this. That’s why it matters. And that’s why I hope you’ll stick around for the ride. Let’s get to the morning analysis… Especially with Russell 2000 momentum sitting in Red territory… And if you’re not a member… give it a go… Continue reading this post for free in the Substack app
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