Escarole & Beans
The dollar has been the world’s reserve currency for eighty years. It has been the unit of account, the store of value, the settlement currency for global trade. When people said money, they meant dollars.
Fiscal dominance — when a government’s debt and deficit obligations overwhelm the independence of its central bank — is not a risk on the horizon. When it takes hold, the currency suffers. The unit of account shifts. What we call money begins to mean something different.
If the dollar is no longer the anchor of the global financial system, then money might as well be escarole and beans. A reminder that what we call money is always, in the end, a convention — and conventions change.
Escarole
In a world where the unit of account is itself in question, you need a different lens entirely. ESCAROLE is eight forces that read the world as it actually is — not as the old conventions assumed it would remain.
Economics · Structure · Currency · Asymmetry · Risk · Order · Liquidity · Expectations
Beans
Seeing the world clearly is not enough. In an environment where money itself is being redefined, capital has to be allocated with a different kind of discipline — one built for a world the old playbooks were never designed to navigate.
Breadth
Edge
Adaptability
Numeracy
Stewardship
Contact
The dollar may still be in your wallet. The world is already pricing something else.
