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Dear Fellow Traveler: Yesterday, I read an article that made my eyes roll. It was in the Wall Street Journal - allegedly a business newspaper.
This is where we are now… “Expected to raise the bar on luxury events for the wealthiest people on earth.” Look man. I’m not a socialist. I just point a camera at stuff. I’m not calling for redistribution. I’m not sitting here even jealous. But do me a favor… don’t rub my nose in shit like this… Because I know where the wealth came from. This is Cartoonish ContentThis article was what I call “luxury porn.” It was a piece that breathlessly detailed how billionaires are dropping +$30 million on weddings while the rest of America struggles to afford groceries. And it failed to ask a simple question: How is any of this possible? This is similar to the question I asked two months before FTX collapsed while attending its high-profile, luxury conference in the Bahamas. And if so… why? This isn't just about rich people being rich. This is the media actively promoting and normalizing what’s starting to look like a technological caste system that the Federal Reserve and central banks have created. Where did all this wealth come from? When Jeff Bezos can casually spend eight figures on a Venetian wedding spectacle, that's not just "success." It's the direct result of three decades of money printing, zero interest rates, and asset inflation, which turned the stock market into a casino where the house always wins… if you're already in the house. I don’t believe for a minute that Amazon isn’t lucky. That it hasn’t benefited. This company has benefited so much from money printing that it has allowed it to go from a book publisher to the world's largest web services company. That DOES NOT HAPPEN without our monetary policy decisions (thanks Janet Yellen). MeanwhileThe WSJ wants you to gawk at the $600,000 "structures" and million-dollar DJs like it's just harmless entertainment. But they're really manufacturing consent for the greatest wealth transfer in human history. This is the impact of the New Cantillon Effect… the never-ending bailout culture that raises the value of assets… and nonstop inflation for everyone else. We work for something that people in Washington can print at will. This media outlet forces you to accept that some people deserve gold-plated cutlery with security guards while others deserve... well, nothing. Notice how the article treats this grotesque inequality as aspirational? "Floor-to-ceiling floral installations!" "Performances by pop megastars!" They're not reporting news and writing marketing copy for technological feudalism. Every dollar the Fed printed didn't go to you. It went to asset prices. It went to those who already owned stocks, real estate, and companies. It created a parallel economy in which peacock feather availability is a legitimate wedding concern, while regular Americans can't afford a medical emergency. I’m EmbarrassedI went to the best journalism program in the world. And my colleagues are idiots. The media's new job is to make you think this is normal. Natural. Just how things are. You’ll hear them bark about inequality and justice and everything else… And then they’ll breathlessly produce this drivel. They want you to focus on the spectacle—"Ooh, Rihanna performed!"—instead of asking why monetary policy has created a world where one family spends more on flowers than most Americans will earn in a lifetime. This isn't capitalism. This is monetary socialism for the wealthy. This is what happens when central banks ensure asset prices never fall, where every correction is met with more printing, where the politically connected get bailouts while you get inflation. And the sickest part? They're not even hiding it anymore. They know most people will read this article and dream about their own "super-wedding" instead of realizing they're being shown their place in the new order. The money printer didn't just create wealth - it created a new aristocracy. And just like the old aristocracy, they need the media to convince you that their excesses are somehow earned, deserved, or worse - something to aspire to. This isn't a lifestyle piece. It's a declaration of victory by the people who hijacked our monetary system. And they're laughing at us while they shoot fireworks from drones. This wedding isn’t the result of free market capitalism. Please don’t insult my intelligence. Stay positive, Garrett Baldwin PS: I will tell you that I’ve covered Amazon’s never-ending financial battle against its own suppliers for years. The company currently has $94 billion on its balance sheet in accounts payable. That’s money it OWES its suppliers. They don’t pay their suppliers for 45 days after the sale, treating their sellers as a bank for short-term capital… that they use to buy short-term T-bills. The company's stock would crash if Congress forced them to shore this up. And then we wonder why people are stealing food from Whole Foods? About Me and the Money Printer Me and the Money Printer is a daily publication covering the financial markets through three critical equations. We track liquidity (money in the financial system), momentum (where money is moving in the system), and insider buying (where Smart Money at companies is moving their money). Combining these elements with a deep understanding of central banking and how the global system works has allowed us to navigate financial cycles and boost our probability of success as investors and traders. This insight is based on roughly 17 years of intensive academic work at four universities, extensive collaboration with market experts, and the joy of trial and error in research. You can take a free look at our worldview and thesis right here. Disclaimer Nothing in this email should be considered personalized financial advice. While we may answer your general customer questions, we are not licensed under securities laws to guide your investment situation. Do not consider any communication between you and Florida Republic employees as financial advice. The communication in this letter is for information and educational purposes unless otherwise strictly worded as a recommendation. Model portfolios are tracked to showcase a variety of academic, fundamental, and technical tools, and insight is provided to help readers gain knowledge and experience. Readers should not trade if they cannot handle a loss and should not trade more than they can afford to lose. There are large amounts of risk in the equity markets. Consider consulting with a professional before making decisions with your money.
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