Did you know that the Riksbank, the Swedish central bank, decided last year to burn 2.6 million kronor (Swedish currency) in cash that was found in a deceased person’s estate? That the central bank confiscated half a million kronor from a 95-year-old woman? That bank customers - individuals and businesses - are being de-platformed from banking services after trading in cryptocurrencies, that a major bank closed the account of a Swedish journalist last year, or that British banks are denying their customers the ability to transfer their own money to cryptocurrency exchanges?

In the iconic scene from the 1999 film The Matrix, the protagonist Neo is presented with a choice between two pills - the red pill, which reveals true reality, or the blue pill, which allows him to remain in his mundane existence, unaware of the choice he has made. This metaphor has become a popular trope on social media over the past decade, with the term “pill” being used to describe a sudden realization or enlightenment.

“What is going on!?” my three-year-old exlaimed at the breakfast table the other day. And it’s indeed a valid question. Energy and food prices have been skyrocketing, yet another epidemic (monkeypox) has recently appeared to be spreading - at least it was declared a global emergency this past summer, and the world’s central bankers are changing their minds so quickly one suspects that they might soon land on their buttocks (perhaps in butter).

Truth be told, investing legend Hugh Hendry had a point when he recently said that “central bankers don’t understand money, they only pretend”. But before we merely assign blame to this modern clergy of ours, one might as well note that few of us actually seem to understand money. The essence of money does deserve to be discussed however, even by non-central bankers.

When you’re one step ahead of the crowd, you’re a genius. When you’re two steps ahead, you’re a madman – Shlomo Riskin I was recently asked by a former colleague why I had increased my exposure to certain sectors in the equity market. After all, the information that had informed my decisions must already be priced in since the market is efficient, he argued.

Claims that we need greater centralisation, more EU, or more globalisation are prevalent across the usual media channels. The climate crisis, environmental destruction, pandemics, the AI-threat, yes, everything will apparently be solved if a little more global coordination, governance and leadership can be brought about. But, is this actually true? One of the best arguments for this conclusion stems implicitly from the futurist Eliezer Yudkowsky, who once proposed a new Moore’s Law, though this time not for computer processors but instead for mad science: “every 18 months, the minimum IQ necessary to destroy the world drops by one point”.

We have proposed a system for electronic transactions without relying on trust. – Satoshi Nakamoto Visit Bitcoingalleriet to learn about, and be inspired by, Bitcoin, Ethereum and NFTs in Sweden’s first physical Bitcoin gallery. The gallery is set up in an old stone house located in the middle of a World Heritage site (the Agricultural Landscape of Southern Öland).

Why is inflation so high, and what does the powers that be plan to do about it? Let’s start our attempt at answering this by looking at the supply side, where we have seen massive amounts of negative shocks to the supply side in recent years. In particular since the discovery of the COVID-19 virus.