I'm sure that serious point is in here somewhere, but there's also an appeal to my inner 14-year-old. Thanks, Remy!
For a flatulence-free explanation, see this March article from Jack Nicastro: What will Trump's strategic crypto reserve look like?
President Donald Trump on March 2 announced the creation of a strategic crypto reserve to include bitcoin, ethereum, XRP, solana, and cardano. Trump says that the "Crypto Reserve will elevate this critical industry" and "make sure the U.S. is the Crypto Capital of the World." It's unclear how subsidizing demand for cryptocurrency would make the industry more innovative.
The details of what a crypto reserve would look like are scant. Nic Carter, co-founder of Castle Island Ventures, a venture capital firm investing in blockchain startups, and a former crypto-asset analyst for Fidelity, spoke to Reason about how it could function. Carter doubts the reserve will be created with monetary intent, i.e., to peg the U.S. dollar to a commodity like bitcoin, which has a "low issuance rate [and] a very predictable supply schedule." Establishing such a crypto reserve, as Sen. Cynthia Lummis (R–Wyo.) suggests in her Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, which was introduced in the last session of Congress, would "basically signal that we're considering a…soft default," says Carter: "Interest rates would spike dramatically as investors in U.S. debt would start to wonder if the US was considering a hard break" from the current international monetary system, he explained in Bitcoin Magazine in December 2024. No such leading indicators of macroeconomic mayhem have been observed yet.
And, yes, Fartcoin is real. For a sufficiently hand-waving definition of "real".
Also of note:
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A newfound respect. Katherine Mangu-Ward's lead editorial in the July issue of Reason is Welcoming Anti-Trump Liberals to the Free Trade Club.
After decades of shouting into the void that free trade is good, those of us in the "eliminate tariffs, embrace comparative advantage, and let me buy my haggis-flavored chips online without an import tax" crowd are experiencing something that hasn't happened in a while: new friends. Things have been especially lonely in recent years, as the right veered away from offering even lip service to free trade while the left coasted on the fumes of its union-driven protectionist past.
But a recent poll from the Polarization Research Lab shows those same lefties making a sudden and striking turn. At the start of 2024, liberals and conservatives were nearly identical in their lukewarm support for unrestricted trade—about 20 percent each in favor. Following President Donald Trump's electoral win and renewed protectionist rhetoric, liberal support has more than doubled to over 40 percent.
And, yes, like Fartcoin, haggis-flavored chips are real. KMW's bottom line:
If you're ready to get serious about dismantling the tariffs that strangle global exchange, grab a seat. (Or in the immortal words of Mean Girls: "Get in, loser. We're going shopping.") But if you're just here to score points in the tribal partisan war of the moment, don't expect us to hand over the aux cord. You can sit with us and listen—but the playlist is Milton Friedman, Frédéric Bastiat, and David Ricardo. And we're playing it on repeat.
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We haven't said this enough lately. Robert Tracinski writes at Discourse: End the FCC.
Like free trade, Trump's weaponization has awakened liberals to the danger of "unfettered power" in the executive branch.
There are many chickens coming home to roost in the second Trump administration. For more than a century, we have been creating weak spots in our constitutional system that pose a huge potential for abuse by a power-hungry chief executive. Now Donald Trump is seeking all of them out and using them.
Let’s zero in on one particularly dangerous area: his abuse of the Federal Communications Commission (FCC), the regulator for the airwaves and therefore for broadcast media.
Shortly after taking office, Trump went on social media to direct his new FCC chair, Brendan Carr, to punish CBS because Trump didn’t like reports about Ukraine and Greenland on “60 Minutes.” He said that the network “should lose their license,” and he urged Carr to “impose the maximum fines and punishment, which is substantial, for their unlawful and illegal behavior.” The FCC does not license the network itself, as Trump seems to think, but it does control the licenses for the network’s individual local TV stations.
Robert goes into the long history of FCC abuses, with Trump's only the most recent. His specific proposal: "Shrink it down into a technical office for the registration of broadcast rights." Not quite drowning it in the sink, but that works for me.
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It's not rocket science, but it is physics. Bjorn Lomborg takes to the WSJ to reveal The Physics Behind the Spanish Blackout (WSJ gifted link).
When a grid failure plunged 55 million people in Spain and Portugal into darkness at the end of April, it should have been a wake-up call on green energy. Climate activists promised that solar and wind power were the future of cheap, dependable electricity. The massive half-day blackout shows otherwise. The nature of solar and wind generation makes grids that rely on them more prone to collapse—an issue that’s particularly expensive to ameliorate.
Spanish authorities were warned. They kinda knew. They are, even now, averting their eyes.
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This one simple trick will solve everything. Eli Lehrer at the Dispatch advocates Harm Reduction to Heal America.
Health and Human Services Secretary Robert F. Kennedy Jr. has claimed that 5G causes cancer. He has alleged that vaccines are part of a vast pharmaceutical industry conspiracy. He’s questioned the safety of fluoridated water, food dyes, and weed killers. Some of his claims are demonstrably false, others speculative, and a few—like the health effects of food additives and ultra-processed diets—deserve a careful look. But set aside the conspiracies for a moment, and Kennedy is onto a real issue: Americans are dying younger not because of poor doctors or bad hospitals, but because of the way they live.
For all the nation’s medical innovation and spending (both lead the world), U.S. life expectancy currently trails nearly every other wealthy country. An American born today can expect to live about 78.4 years, compared to 81.1 in the United Kingdom, 83.1 in France, and 84.1 in Japan. And the gap isn’t because of less access to care or lower-quality doctors—on measures of medical treatment from cancer to acute hospital care Americans fare much better than the rest of the world.
And serious research from dozens of sources confirms this. A landmark report from the National Academy of Sciences found that Americans die younger than people in peer nations not because of inadequate medical care, but because they suffer more from what is called “adverse health-related behaviors.” A 2023 study from the Bloomberg American Health Initiative drilled deeper and found that the bulk of the U.S.-U.K. life expectancy gap is explained by just four factors: cardiovascular disease (resulting from obesity and work stress), drug overdoses, car accidents, and gun deaths (overwhelmingly suicides)—all of which are lifestyle- or environment-related, not failings of the health care system. Even where Americans already have made a lifestyle change for the better, they’ve generally done so later than their counterparts in other wealthy countries. Thus, even though American smoking rates today are about average for rich places, the damage resulting from historically higher rates of smoking continues to impact mortality figures.
Well, that's sobering news. Albeit not sobering enough to get me to stop drinking wine.
As stated in the headline, Eli recommends "harm reduction", a non-nannying approach to decrease the damage Americans are doing to themselves. He outlines various approaches to ameliorate obesity, opioid addiction, smoking, traffic fatalities, and more. Interesting!