The Trump administration has flipped between a half dozen distinct narratives telling us what these tariffs are really about.
Why? Because they needed to wrap the truth in a better story. Time to go Narrative Shopping.

Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
The cure for the cancer of gun culture and police culture is not to be found in reform laws around guns and police, but in reform ideas around culture, ideas that create a new dimension of American society that rejects LARPing and LARPers alike.
Inflation
What made Bitcoin special is nearly lost, and what remains is a false and constructed narrative that exists in service to Wall Street and Washington rather than in resistance.
The Bitcoin narrative must be renewed. And that will change everything.
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Crypto
Recent Notes
Burn. It. Down.
It’s almost as if there’s a ruling class.
Even When I Lie
There are three reasons a person becomes a liar: he believes that he must, he believes that he may, or he believes it serves a Greater Truth.
In the News | Week of 12.3.2018
Key articles for companies reporting the week of December 3, 2018
Take Back Your Thinking
In the Common Knowledge World, we lose the ability to distinguish between what we think and what we think we think. It’s Fiat Thought, and here’s how you beat it.
Deals Are My Art Form
The emphasis of asset owners on private assets investments is meta-stable – robust to a lot of potential changes in market environment. The reason? The deals! Meme.
American Gods
Every idea has a story, but the story is not the idea. Stories are born, they live, and they die. But if the idea is powerful enough, it can find a new story and be reborn. Crypto must find a new story.
What’s Your Metagame? An Open Letter to the Crypto Community
It’s an invitation to explore a joint research program, as described in TFA3. It’s an invitation to share ideas on liberty, resistance and technological advancement. It’s NOT an invitation to share ideas about money.
Gratitude
To our readers, to our supporters, to our engaged commenters, and to the people who have compared Epsilon Theory to drinking paint, a word: thanks.
The Power of Neg
It’s an old chess saying: “The easiest way to defeat a gambit is to refuse it.”
But that’s just the start of a successful metagame.
Say Uncle!
I don’t know what the Fed should do in December. But I do know how financial media (and Donald Trump) want you to think about what they should do in December.
Hobson’s Choice
“What do you mean you don’t make side orders of toast? You make sandwiches, don’t you?”
Bobby thinks he has lots of choices, but really he only has one.
We’re all Bobby today.
Things Fall Apart (Part 4)
Take back your vote.
Take back your distance.
Take back your data.
How to make our way as citizens in a fallen world, with Clear Eyes and Full Hearts to make it better.
That’s Just Putting On a Nice Sweater
When something becomes as necessary, accepted and right-sounding as ‘process’, it can be tough to tell the difference between the Cartoon and the genuine article.
Cards of Control and a Brave Little Toaster
All the tech links you need for a great weekend read.
You Had A Stamp Collection?
A quick note on no-coiners, people (like me) who have never owned Bitcoin, but have just watched from afar. We’re being played. Not to buy Bitcoin, but to obey the logic of the flock.
When That Fire Hits
Our brains’ responses to memes are mostly existential – fight or flight. We can’t turn off these responses. But we can train our behavior to question them.
The Sicilian Offense
I don’t know that any investor’s mean expectation for Amazon ought to have moved an inch. But should a poorly played metagame change investors’ probabilistic outlook? I think so.
I Know Why the Caged Bird Speaks
In the construction of Fiat News, it’s the choice of facts and the choice of words that preserve the power to make us feel. Because that’s the only thing that really matters – how do the words make you FEEL?
Working to Protect the World from Bananas
With technology, even totalitarian surveillance technology, there typically is no ‘big bang’, just a bunch of independent systems coming on line, getting networked together, and then a tipping point. We’re there with China.
Foundation and Empire
How can US household net worth continue to outpace US economic growth if the Fed won’t play ball with easy monetary policy? History shows another way to keep the party going

Recent major media stories that feel to us like they’re part of a larger narrative campaign.