Debt and Defense: The Trump-Bessent "Singularity" Framework
Donald Trump and Scott Bessent see the national debt and security crises as "One Big Thing."
Most journalists and pundits view the Trump administration's flurry of activities as a chaotic whirlwind of mindless reactions. This perspective is misguided and hinders understanding of what the administration is trying to accomplish. If we fail to grasp their intentions and methods, we cannot take appropriate actions to protect our wealth.
I like the following advice from Blake Scholl, a successful innovator who is currently developing the first privately funded supersonic airliner:
“When I see someone smart doing something that looks dumb, I try to ask: What would have to be true for this to actually be smart? Sometimes what looks dumb is indeed... dumb. But often, I don’t have all the facts; staying curious to stay smart.”
– Blake Scholl, CEO of Boom Aviation
Regardless of your stance on the administration's policies, you will not understand viable alternative policies until you comprehend their objectives. As the 19th-century philosopher John Stuart Mill stated in *On Liberty*, “He who knows only his own side of the case knows little of that.”
The attached video is a “pre-recording” of an address I gave to an investment group on May 14. Due to privacy reasons, the host did not record the meeting. In anticipation of this, I created this pre-recording to share the content with you.
As usual, you can watch the presentation at 1.25x speed, as I tend to speak slowly. The video is about 40 minutes long.
Please “like” this piece, and remember to stay curious to stay smart!
HardmoneyJim, May 17, 2025
Many journalists and pundits characterize the Trump administration's whirlwind of activities as a chaotic storm of mindless reactions. This perspective is not only misguided but also obstructs our ability to truly grasp what the administration aims to achieve. If we fail to understand their intentions and strategies, we put our wealth at risk by not taking the right precautions.
I find great wisdom in the words of Blake Scholl, an innovative leader currently working on the first privately funded supersonic airliner:
“When I observe someone intelligent doing something that appears foolish, I ask myself: What would need to be true for this to actually be wise? Sometimes, what looks foolish truly is foolish. But often, I lack the complete context; staying curious is key to staying informed and savvy.”
– Blake Scholl, CEO of Boom Aviation
Regardless of your opinions on the administration's policies, you will never fully comprehend viable alternatives until you grasp their objectives. As the great 19th-century philosopher John Stuart Mill wisely stated in *On Liberty*, “He who knows only his own side of the case knows little of that.”
I’ve included a "pre-recording" of my address to an investment group I delivered on May 14. Due to privacy concerns, the host did not record the meeting. To ensure you have access to this valuable content, I created this pre-recording just for you.
As always, feel free to watch the presentation at 1.25x speed, as I tend to speak slowly. The video runs for about 40 minutes.
“Like” this piece, stay curious, and stay smart!
HardmoneyJim, May 17, 2025
This video is an excellent introduction to Jim Brown’s book the Black Hole of Economics. When you get the book, you’ll want to watch this video again because together you’ll understand economics better than either one of the things alone.
The issue of money creation made by commercial banks for commercial loans is so radical and yet compelling that it’s astonishing.
Kudos to Jim Brown. Jim, you have made me feel that our current troubles are not a sad ending to a great run in history. but rather the beginning of a tremendous flourishing in human history.
I pledge to stay curious: treasure the past, live in the present, and stay curious about what I can do and want to do in the future.
Interesting, be curious, good advice.