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Joined February 2009
France trails Germany by 15 points on employment at ages 55 to 64, and the EU average by 5. Sixteen other EU countries do better. France pays today's pensions out of contributions from today's workers. Bitcoin is savings you hold yourself.
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France ran a deficit of more than 150 billion euros last year, and it can't order the Banque de France to print money to cover it. @CorySwan of Swan Bitcoin on how the euro took away France's exits, and why leaving is unlikely short of a full-on collapse.
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A Bitcoin hardware wallet signs each transaction without ever handing your secret keys to your computer. That's why some people prefer the term signing device. @CorySwan explains in under 3 minutes: your Bitcoin stays on the network the whole time. The device holds only the keys.
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31 years. 31 budget deficits. From 1995 to 2025, France never once balanced its budget. Its smallest shortfall, in 2000, was still 1.3% of GDP. Debt fell for three years after the 2020 jump, then passed the old peak. It reached 119% of GDP by mid-2026. No one can issue more Bitcoin to cover a deficit.
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In France's 2022 runoff, voters 65 and older were more than twice as likely to vote as those under 30. That's why cutting pensions is so unlikely, even with the streets on fire.
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Everyone predicting America's decline is comparing it to the wrong empires. American politics can look ugly, but it lets people push back on the government, vote leaders out and fight bad policies in the open. Being able to fix your mistakes beats being able to hide them. - @CorySwan on Outside Money
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How did the UK become the third-largest government holder of bitcoin? By seizing it. Nearly all 61,245 coins come from one fraud case: money stolen from 128,000 Chinese investors.
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A lot of people are writing America’s obituary. By the standard of every great power before it, America has barely started.
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American supremacy does not require the dollar to remain the world's dominant currency forever. On a Bitcoin standard, the United States could still lead. - @CorySwan on Outside Money
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Don’t wrap your tired altcoin pitch in a fake "Bitcoin PSA" and expect applause.
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Can stocks rise while the 10-year Treasury pays more than 5%?
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Last chance to request a spot on Outside Money OVERTIME! It's today at 5pm UK, noon ET, 9am PT. speakeasy.swan.com/e/6D6jPVg… Live roundtable video discussion featuring @CorySwan and @phjlljp about the past week's Outside Money topics: • What If 5% Treasury Yields Aren’t Bearish After All? • HIGH INFLATION IS GOOD FOR YOU. WE PROMISE. • Did Trump Finally Break the British Financial Empire? • THE $17 TRILLION QUESTION: BITCOIN, OR ANTHROPIC? • Gold Is Hard Money That China Can Control Videos: youtube.com/playlist?list=PL… Articles: Cory.substack.com
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Bitcoin is 17 years old. It has never seen a U.S. budget surplus.
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Q3 has a reputation as Bitcoin's quiet quarter. Not this year. +42.8%, the best third quarter since 2017.
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The theory: Trump broke the London bankers by replacing LIBOR with SOFR. But SOFR was selected in June 2017, months before Trump nominated Powell. The UK still handles roughly 38% of global forex. @CorySwan on why the theory fails, and why Bitcoin sits outside the whole system.
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