Something you said today about how you were big into conspiracies before you really started to dial into the CCT and the Cantillon effect. Really hit home for me because I feel like I am going through that phase or something like it. I abstained from participating in the markets because I thought they were evil and had this “doomer” approach to everything but short of just learning primitive survival skills and living in the woods. Anyways the point of this post was just a thanks to Simon and the community for opening my eyes and looking at things in a different light. PS: Is there a talk still tonight in a couple hours?

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The Cantillion Effect is driving greater divide between the asset holders and everybody else. This, in addition to frivolous spending from governments, has created an Unrealized Capital Gains tax movement. For the last few decades investors have argued that the double taxation on earnings distributed to shareholders via a dividend payout has made share buybacks more valuable to investors, but starting in 2028 The Netherlands along with Spain and other countries will start to require you pay cash as an unrealized capital gains. In the US dividends are taxed favorably, and unrealized capital gains may continue to pick up steam around the world ("soak the rich" mentality). Does all of this mean that dividend stocks that today trade without any premium may start to demand a premium on account that they provide you with cash that more or less pays for you to hold the position (offsetting the unrealized gains tax)?

Warsh has hired Paul Winfree who wrote chapter 24(page 731) in "Project 2025". Very interesting concepts he brings up and most concerning is the suggeting of a return to a gold standard. Nowhere does he address Triffin’s Dilemma or the Cantillon effect. Ignoring these economic forces will result in a flow of gold out of the country and into the hands of private individuals. Gresham's law will extract all the gold leaving nothing but empty vaults and a people who will live in poverty and misery. https://static.heritage.org/project2025/2025_MandateForLeadership_FULL.pdf?hl=en-US https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2026/06/02/fed-chair-warsh-makes-first-hires-at-central-bank-including-project-2025-author.html?amp_gsa=1&amp_js_v=a9&usqp=mq331AQGsAEggAID#amp_tf=From%20%251%24s&aoh=17804872273137&csi=0&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.cnbc.com%2F2026%2F06%2F02%2Ffed-chair-warsh-makes-first-hires-at-central-bank-including-project-2025-author.html

Recognizing the Cantillon effect will give you the ability to position yourself accordingly. It is also obvious that no one else will see it as the Cantillon effect. https://apnews.com/article/china-latin-america-trump-trade-e78ccd51a7f66099d84fda885d2907a3