The Lost Ledger

1951 Explains the Fight Over the Fed in 2026

3 min · 23. touko 2026
jakson 1951 Explains the Fight Over the Fed in 2026 kansikuva

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Kevin Warsh was sworn in as Federal Reserve chair on May 22, 2026, at a moment when inflation, interest rates, and Fed independence are back in focus. This short explains why the 1951 Treasury-Federal Reserve Accord still matters when presidents, markets, and households all care about the price of money. Educational content only, not financial advice.

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jakson SpaceX's $75B IPO has a 400-year-old parallel. In 1602, investors bought ocean voyages. Now they may buy rockets. Is this access… or arriving late? kansikuva

SpaceX's $75B IPO has a 400-year-old parallel. In 1602, investors bought ocean voyages. Now they may buy rockets. Is this access… or arriving late?

Four hundred years ago, investors bought pieces of ocean voyages. Now, public investors may soon be buying pieces of rockets, satellites, and Starlink. SpaceX is reportedly targeting a historic IPO — roughly $75 billion raised, valuing the company around $1.75 trillion. That would be one of the biggest public offerings ever. But the real story is older than rockets. In 1602, the Dutch East India Company opened public share ownership to ordinary investors for the first time. Those shares could be traded, which meant investors weren't just funding a voyage — they were creating a market. SpaceX is offering a similar moment. The question is the same one from 1602: are you buying a business, or are you buying a future you can only imagine right now? In both cases, the price matters. Would you rather get in early with more risk — or later when the story is clearer but the valuation is already massive? Educational content only. Not financial advice.

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