His key points: - Money as information/measuring stick: “Mo…

His key points:
- Money as information/measuring stick: “Money is the measuring stick… not a magic wand for central banks.” It should be a neutral standard outside what it measures, so prices can convey real signals. He credits Hayek for the idea that “money is information” and “a measuring stick.”
- Information-theory view: Money is the channel that carries information about value. When governments manipulate money (printing, rates), they add “noise” to the channel, distorting the information entrepreneurs need.
- Money is time (tokenized): “In the deepest sense, money is time… tokenized time.” Because time is the ultimate scarce, irreversible resource, sound money must be rooted in time.
- Why gold works: Gold has served as money because the time to extract an incremental ounce is remarkably stable over long periods, making it a good time-based measuring stick.
- Bitcoin vs. ‘digital gold’: He praises Bitcoin’s design but says its hard cap makes it volatile (a speculative asset), so it isn’t yet an ideal measuring stick. He advocates an uncapped, time-rooted “digital gold.”