Time is a flat circle.
It's that time of the cycle. Bitcoin is, yet again, authoritatively reaching new all time highs and leaving port for "open water bitcoin" and the affinity scams riding in its wake are rising from the slums behind the hills to proclaim that they are going to supplant bitcoin and revolutionize the financial system.
I don't have much to add beyond what was said in the Nostr note above other than I would like to publicly state today that it's all going to end in pain for those who participate and don't top tick. And that will be most people who participate.
Let's check back in on this in two years.
Balaji explained how the US empire operates on a fundamentally different business model than traditional nations. Rather than manufacturing goods for export, America built a global system of 750+ military bases and diplomatic agreements that gave it the unique privilege to print the world's reserve currency. This arrangement meant the US could essentially tax the entire planet through dollar inflation - every time the Fed creates money, it dilutes the holdings of billions worldwide who need dollars for trade.
"A trillion in pure profit by hitting a button, that's crazy. And they tax the entire world to pay for it." - Balaji
The numbers are staggering. As Balaji pointed out, the Fed can create $1.25 trillion with a few keystrokes - no factory needed, no products shipped. This "greatest business model of all time" explains why reindustrialization efforts face such headwinds. Why sell screws for pennies when you can print trillions? The empire monetized itself through currency rather than commerce, making traditional economic competition almost impossible.
Check out the full podcast here for more on China's manufacturing dominance, Bitcoin as escape velocity, and network states.
Low Approval for Trump's Epstein Handling - via X
Bill Counts Crypto in Mortgages - via X
US Holds Less Bitcoin Than Thought - via X
Get our new STACK SATS hat - via tftcmerch.io
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Final thought...
I thoroughly enjoyed the movie F1.
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