Millennial Money

"What is different about us as individuals compared to previous generations is minor. What is different about the world around us is profound. Salaries have stagnated. At the same time, the cost of every prerequisite of a secure existence—education, housing and health care—has inflated. Structures that insulate us from ruin are eroding. Add it all up and it’s no surprise that we’re the first generation in modern history to end up poorer than our parents.

 What we are living through now is a historic convergence of economic maladies, many of them decades in the making. Decision by decision, the economy has turned into a young people-screwing machine. And unless something changes, our calamity is going to become America’s."

That's where the Cold Republic comes in.......


Salt has long been used as a form of currency throughout the world. The word “salary” is actually derived from The Latin word “salarium”, which was the Roman word for “money used to buy salt.” In fact, salt was the primary currency in East Africa throughout the Middle Ages. Another form of edible currency was Parmigiano cheese. At one point this beloved cheese was actually accepted as bank collateral in Italy. In Central America, the cocoa bean was the food-currency of choice. In Central Asia, they used tea bricks. These bricks were actually preferred in Mongolia because they could be brewed or even eaten as a source of nourishment.

Large bronze blades were early forms of coins and where very common throughout ancient China. Roughly 2,500+ years ago, a Chinese prince allowed his troops to use their knives as payment for goods when money was scarce. After the troops began bartering with local villagers, the concept caught on and soon became a standard form of currency. They were most widely used in China during the Zhou Dynasty (between 600 and 200 BC), and were often were fitted with ring shapes at one end so that the knives could be carried conveniently on belts and straps.

Since money is really just a representation of value, it didn't take long for people to realize they could just send information about money by telegraph or other electronic means, and it was just as "real" as sending the money itself. After World War II, banks would record information about the day's transactions onto large magnetic reels, which were taken to the regional Federal Reserve Bank. This system eliminated the need for the large denominations that were printed prior to the war to facilitate these large-scale transfers. Today, the $500, $1,000, $5,000, and $10,000 bills printed during this period are very rare, though some are still in circulation.

Later, wire connections were established between the banks, so the transfer information could be sent directly.

There are three other important steps in the history of electronic money:

Diners Club issued the first credit card in 1950. At first, credit cards were considered a special perk available mostly to rich businessmen. As soon as banks realized there were billions of dollars to be made by issuing credit to as many people as possible, credit cards exploded. Today's largest credit card company, Visa, started out as the Bank of America, and issued the BankAmericard in 1958. Today, there are over 200 million Visa cards in use in the United States alone.
The Social Security Administration first offered automatic electronic deposit of money into bank accounts in 1975. Once people became comfortable with the concept of money being added to their accounts without ever holding the cash, the practice spread. People started paying bills, transferring money between accounts, and sending money electronically.
The growing worldwide acceptance of the Internet has made electronic currency more important than ever before. Purchases can be made through a Web site, with the funds drawn out of an Internet bank account, where the money was originally deposited electronically. People are earning and spending money without ever touching it. In fact, economists estimate that only 8 percent of the world's currency exists as physical cash. The rest exists only on a computer hard drive, in electronic bank accounts around the world.

    Therefore the newest value store for purely mathematical equations. A cryptocurrency is a digital-only asset that uses complex math equations to create and exchange increments of value. These increments cannot be counterfeited easily, as anyone participating in the cryptocurrency economy has access to a “ledger” of sorts. The currency’s value relies on a delicate math equation that figures out how much of the currency can be created by using specialized computers and computer programs.If you desire to speculate on these new value stores(which we have been in on since 2009)....the rabbit hole is here.


    Making Money after the Millienium

    The more obscure and dull a business, the more likely it will succeed. People who want glam and sexiness better be prepared to live paycheck to paycheck.

    Television is a very glamorous industry. So is media. And retail. Also entertainment. And throw in fashion.Being employed in a fantastically sexy industry is going to give you--possibly--a fabulous life. What it isn't going to do--at least for the majority of people--is make you rich."If I hear something where I want to put a gun in my mouth, it's that boring, I smell money,", "You wanna open a restaurant? You wanna open a fashion brand? You wanna start a jewelry line? You wanna produce movies? You better have a steady income, because you're not going to make a lot of money and you're going to work your ass off," -Scott Galloway NYU

    The reason why is because everyone wants to be in those industries.

    "They're over-invested," he noted. "Careers are like asset classes. When everybody wants real estate, they get inflated, and the return goes down. The industries everybody wants to be in have the lowest return on your efforts because everybody wants to be in them. Which means you have to be amazing just to make a good living.You might apply this same axiom to the state of entrepreneurialism today. Almost everyone and their mother wants to be an entrepreneur. In fact, I am now one myself.

    When everyone piles in wanting to do similar things, seeking out the same angel or venture capital money, it becomes that much harder to generate a higher return.

    "We romanticize entrepreneurs and entrepreneurship," he said. "It's not nearly as cool and as rewarding as people would like to think."If you have a choice between being an entrepreneur and going to work for a great company, ask yourself: Do you have the skill set to be part of a big company? If you have those skills, on a risk-adjusted basis, you're better off at a big company. They are incredible platforms. My [friend] at Morgan Stanley stayed there for 25 years, and on a lot of levels, in the terms of press and media, I have been quote unquote at least optically more successful. He's had much fewer ups and downs. And economically, we're at about the same place."  - Scott Galloway NYU

    Another sign of an entrepreneur,  is the ability to work 100 hours a week and, at the end of the month, still take money out of your bank account to keep the company afloat, which is exactly what I/we are doing in building the Cold Republic and its subsidiaries . Ninety-nine percent of the people out there, are not willing to do that. So if you're even thinking of starting your own company, remember these three tips:

    Do something as boring as possible
    Be terrible at working for anyone, and
    Be prepared to write $100,000 checks just to have the privilege of working at your own company.
    If you're prepared to do all three, congratulations and...good luck.

    We sell our services reasonably to assist others. Our contact is here.

    Future of Work

    The displacement of workers is continuing as technology allows menial , repetitive and dangerous tasks to be handled by the combination of robotics and machine learning. The addition of sensors embedded into our bodies, homes , vehicles and natural environments combined with wireless energy and high speed cellular data networks will lead to new occupations. Jeff Bezos has made a statement that the only way he sees to deploy his vast fortune is in space. Private Space travel, Cube Satellites, and new networks like the IPFS ( Interplanetary File System). It is imperative you develop a long term strategy for technological integration as software eats the world.  We maintain information on how that can be done in our publication the Cold Report