Cause and effect, the riddle of all history, is a particular devil in financial history and never more so than today, where entire classes of security are collapsing not on public exchanges and stock-tickers but because there are no markets to establish prices this side of nothing.

Nowhere else in history has there ever been a flag that stands for the right to burn itself. This is the fractal of our flag. It stands for the right to destroy itself.

Humanity has experienced many revolutionary changes over the course of history: revolutions in agriculture, in science, industrial production, as well as numerous political revolutions. But these have all been limited to the external aspects of our individual and collective lives.

We are not merely passive pawns of historical forces nor are we victims of the past. We can shape and direct history.

It takes a great deal of history to produce a little literature.