A scale for reasoning and a crisis warning

by Feb 18, 2021Thinking outside the bottle0 comments

Photo by Alex Guillaume, Unsplash

Paulo Pinto

Alti Wine Exchange founding member

Dear reader,

After a few hours of light meditation followed by light drinking, I found myself complaining about my son’s generation, the millennial generation. They are missing something, I told myself. They don’t listen, they make bad choices.

Then I started to remember the condemnations I received when I was his age, the judgment and disapproval, and then I remembered how my father used to say the same about his generation and mine.

It seems we all complain about the next generation, probably from the moment we start to get old – but not necessarily wiser, because for some reason the next generation is always smarter and more capable than the previous one.

No wonder, by the time I finished my glass of delicious Moscatel Kingsman 1919, I knew that my son will be alright. His faults will be smaller than my faults and his generation will do well. They will make mistakes like the older generations did, but in the end they will be more capable than my generation.

Reflecting on this, I noted how much easier it is to give a human scale to reasoning. The relationship between father and son is much easier than generation-to-generation because of scaling. In abstract, everything becomes categorical generalizations without points of reference.

One thing is worrying, the formula for improvement with the new generation seems to be always the same: the need for more money, regardless of the quality. Because we live a globalized market where people are being homogenized, levelled, and only expansion matters, the particularities that make the difference are forgotten. People seem to be all the same now, all the time.

***

But we interrupt our thoughts about the next generation to bring you important news:

We are approaching the point of maximum financial risk.

It is important to understand how a defensive plan is now very important, because this is a crisis warning.

elon-musk-bitcoin.jpg

Bitcoin has reached a value of nearly 50.000 USD, and Tesla – a large publicly traded company – announced a 1.5 billion investment in this cryptocurrency. This is major.

It could be the beginning of a much wider adoption trend, but a dangerous trend for Central Banks because it puts at risk fiat currencies’ credibility, and therefore becomes dangerous for the adopters.

The point is, Tesla is using bitcoin as a store of value against the debasement of the US currency and resistance to inflation.

***

We believe at some point in the future bitcoin and independent digital currencies will be made illegal. Commercial banks already make it almost impossible to transfer money into digital currencies, and difficult to allow using digital currencies as part of companies’ operations. If this level of control is already so massive, how difficult would it be to make these new currencies illegal?

This is the reason we believe fine wine is a much safer store of value. It is a consumer product, but at the same time it is rarer and limited – and is not digital, even if you can trade it digitally thanks to groundbreaking efforts such as Alti Wine Exchange, allowing normal customers to become fine and rare wine investors.

***

One thing I know by now is how the future is always uncertain.

Let’s sip the good moments, embrace our loved ones, stay aware in the face of possible hazards and get ready for whatever comes next.


More articles by Paulo Pinto 

Featured

Explore More from Our Blog

Would you bring your child to a winery?

DEAR READER, What a pleasure to be back! I admit it: these mailbags are now my favorite point of the week. Even during the contentious back-and-forth, I always enjoy opening my inbox to see words from you all. “Kind” ones, sometimes—but as you know from last week—I...

Our Sommeliers suggested wine

DEAR READER, I must be honest—I expected many more well wishes after posting that old journal entry. Everyone is modest when they say they don’t want well wishes, and so I expected there would be a few of you who saw through my “plea for privacy”. But, I forgive and I...

Because Life Needs Good and Evil

Black and white. Chaos and order. Sinner. Sinless. Life is a constant search for the happy medium, the yin and the yang. It’s as renowned psychologist Jordan B. Peterson explains, “Order is not enough. You can’t just be stable, and secure, and unchanging, because...

Thank you, Lehman Brothers?

On this day, 13 years ago, the world broke out in a panic when Lehman Brothers filed for Ch. 11 bankruptcy. Still the largest bankruptcy filing in US history, it was the climax of the Great Recession of 2007-2009. Subprime mortgages were to blame, lending money to...

Beer vs Wine, a timeless debate…

DEAR READER, Blah blah blah let’s get right to it! Dear Sommelier Ferdinand, You’ve dropped some hints that you look down on beer. Why is this, Sommelier Ferdinand? You have a growing fanbase—surely, you’re aware the effect that your insults have? And before you...

What would you do if you found an expensive wine in a cellar?

DEAR READER, Never in my life have I been happier to pontificate about wine than at my computer desk. In person is stimulating, sure, but they always talk back at some point. My lovely readers, however, only speak when I like! This internet thing has utility!...

The Beginning and The End.

Alas, the sun has crossed the celestial equator from north to south. Summer is now quite uneasy, shifting into fall in the north, while life is springing into action down south. What a beautiful time of the year! When grapes are cut from the vine to create new wine,...

Ever heard of a wine cocktail?

DEAR READER, I hope some of you learned from the reader letter last week [hyperlink to Week Ten post] and checked your attics! You never know how much wine sits above you, waiting to be uncorked and decanted—on someone else’s dime! Dear Sommelier Ferdinand, I have a...

The Future of Wine

We humans are bold if nothing else. Unlike any other species (that we know of), only we have chosen time and again to go boldly where no other has gone before. This holds especially true to the modern European, the first to really “discover” ignorance. Though they...

Could Mozart Make Your Wine More Complex?

We usually do three things when drinking wine: look at it, smell it and taste it. We activate three of our five senses to understand what’s going on in the glass. I propose we go further by incorporating sound and touch. Surely what we’re listening to while...

What on earth is a ‘Wine Decanter’?

DEAR READER, It’s come to my attention that many of you are ill-informed, misinformed, and frankly, uninformed about how wine is to be consumed. Were I only a wine enthusiast, it would be wholly dispiriting. But—wine is my profession, and I’m obligated to recognize...

“What’s My Next Question?” – Benjamin Kaplan

What’s My Next Question? On a random day like today 11 years ago, a legendary Harvard Law professor and lawyer, Benjamin Kaplan, died at 99 years of age. A rich, marked life that left an impact long after his last breathe. Apart from influencing the likes of Ruth...