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November 2023 Newsletter: The Monetary Gates Are Open - Lyn Alden

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This newsletter issue takes one of the key concepts from my book Broken Money, and condenses it into a shorter form. In summary, it’s about how new monetary technologies have significant potential to disrupt the existing legacy money system over the next years and decades. There are over 160 different state-issued currencies in the world, and most of them have little or no acceptance outside of their host jurisdictions. Within each jurisdiction, they have a monopoly and thus widespread liquidity and acceptance, but then those attributes fall off very quickly outside of their borders. In some sense, most currencies are like casino chips or arcade tokens: easily spendable or convertible in that arcade or casino, but of little use or salability anywhere else. As I write this piece from a U.S. suburb, it would take a nontrivial amount of time and effort to find a conversion point for my paper Egyptian pounds or Norwegian kroner. And if I could somehow find someone willing to take them off

November 20, 2023 This newsletter issue takes one of the key concepts from my book Broken Money, and condenses it into a shorter form. In summary, it’s about how new monetary technologies have significant potential to disrupt the existing legacy money system over the next years and decades. 160 Different Currency Bubbles There are over 160 different state-issued currencies in the world, and most of them have little or no acceptance outside of their host jurisdictions. Within each jurisdiction, they have a monopoly and thus widespread liquidity and acceptance, but then those attributes…

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