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Talebiblia is a fan site devoted to Nassim Nicholas Taleb, created by Smiljana Skiba. It features a compilation of Taleb's most intriguing social media screenshots and interviews for readers to enjoy and explore. The website provides a resource for anyone looking to gain insights into Taleb's works, whether they are a dedicated reader or a curious newcomer.

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The argument that an arbitrage-free crypto-currency with no carrying costs (say #BTC) can never be a hedge against inflation: If it is seen as a hedge, its price today may reflect ALL future inflation. Then it ceases to be a hedge. In other words, an instrument that prices expectations of future inflation but not checked by *realizations* of future inflation is a pathology. Think in terms of implied vs realized volatility. Let me re-explain the idea. A price linked to inflation must reflect current expectations of FUTURE inflation, priced-in (probabilistically). Price changes reflect changes in expectation, & CANNOT be a hedge against inflation. An instrument arbitrageable to a basket is a hedge.