Economics & Markets

A Nonbank Tax-Liquidity Finance Platform

LCSC addresses a narrow liquidity problem. An owner who sells appreciated marketable securities may wish to diversify or redeploy the proceeds, but a material portion of the sale proceeds must remain available for federal tax. LCSC converts part of that near-term cash requirement into a secured, fullrecourse, amortizing private loan. Treasury is paid under current law. The borrower receives liquidity and incurs debt. LCSC earns interest and fees and accepts the resulting credit, collateral, funding, regulatory, and operating risks. The recommended launch product is the Individual Tax Liquidity Facility: $250,000 to $2.0 million, fouryear fully amortizing, federal-tax-only financing for high-net-worth U.S. individuals with broker-reported long-term gains on publicly traded securities.

A Rules-Based Installment-Payment Framework for Federal Tax Liabilities Attributable to Long-Term Gains on Marketable Securities

Congress should establish an elective federal capital-activation regime under which the full tax attributable to qualifying long-term marketable-security gain is determined in the year of disposition, a rules-based payment is made with that year’s return, and the remaining liability is paid over a short statutory period with interest and enforceable collection protections. The proposed Unlocking Capital Act changes the statutory payment schedule only. A statutory index adjusts only the first payment, and Treasury has no discretionary rate authority. Payment flexibility is not forgiveness: full tax remains due, and non-electors retain current law.

Interdependence, Strategic Reform, and the Trump Experiment

If the three principal economic centers of the modern world—the United States, China, and Europe—were suddenly forced into complete economic isolation, which of them would suffer the most? Each of these economies depends on the others in different and often invisible ways. The triangular relationship among the United States, Europe, and China produced unprecedented prosperity, but it also created imbalances that can no longer be ignored. The Trump administration’s policies represent one attempt—experimental and controversial—to begin this process of reform. The world is moving from a period of unmanaged globalization toward a phase of deliberately structured interdependence.

This paper advances a perspective rather than a product or index proposal. It argues that portfolio decision-making would benefit from a human-led, AI-assisted evaluative lens focused on institutional adaptability, governance capacity, and structural readiness for ongoing technological change. Artificial intelligence, when used under explicit human oversight, can assist in identifying and organizing evaluative dimensions that are difficult to specify fully in advance, while responsibility and decision authority remain firmly human.

A sector-level blueprint and AI-native rating framework for future-fit organizations

The AI Future-Fit Index™ (AFFI™) is a proposed rating framework that evaluates how structurally prepared an organization is to thrive in a human-led, AI-powered market. Algorithmic implementation, portfolio construction, and validation are addressed in portfoliospecific documents such as the Human Frontier 60™ Portfolio (see Appendix D therein).

Positioning Capital at the Intersection of Human Advantage and Machine Intelligence

Human Frontier 60™ (HF60™) is the first investable implementation of the AI Future-Fit Index™ (AFFI™) framework. While AFFI™ defines the conceptual sectors and selection criteria of AI-powered future markets, HF60™ reorganizes and consolidates these concepts into a 60-company public-equities portfolio optimized for long-term investment. November 27, 2025 ABSTRACT Open Access, Structural Investing, and the Limits of IPO Participation Contemporary capital markets increasingly restrict broad investor participation in early-stage growth through invitation-only IPO allocations and institutional gatekeeping, often justified as investor protection but functionally limiting access to structural innovation. The Human Frontier 60™ Portfolio adopts a different, long-term strategy.

By Lev Neymotin, N5Digital, Inc.

AI-based day trading refers to the use of artificial intelligence or algorithmic systems to make trading decisions—automatically placing buy and sell orders without human intervention—based on pre-set rules or strategies provided by either the trader or the platform operator. This approach is increasingly used by both professionals and retail traders to monitor price movements in real time, react faster than humans to signals, eliminate emotional decision-making, and capitalize on short-term market fluctuations.

A Practical Primer for Individual Investors (Cash Account Focus)

Day trading in cryptocurrency offers fast-paced opportunities but comes with distinct risks, rules, and technical constraints. This primer outlines the essentials for private investors using cash-only accounts seeking to engage in short-term crypto trading effectively and responsibly.

Today’s technology—specifically blockchain and distributed ledgers—makes it feasible to revive and update Keynes’s vision. A “Cyber-Bancor Union” would use a cryptocurrency-like international money as the unit of account for all cross-border transactions, while countries retain their own national currencies for domestic use. By introducing a ledger-based world currency allocated by economic size, it removes the privilege and burden of reserve currency status from any single nation. Implementing such a Cyber-Bancor Union would of course face challenges—political will and international coordination are as crucial as the technology.