Jon Binder

Documenting the global debt crisis. Dad x3.

[Jon Binder @Bindertweet]

On June 3, 2026, four House Republicans joined Democrats to pass a War Powers Act resolution directing President Trump to end hostilities with Iran.

[Jon Binder @Bindertweet]

@bobbostark @BshAccounting @RaminNasibov I tried a few years back to find it online, i wasn't successful in running the game bc it wasn't meant for modern PCs

[Jon Binder @Bindertweet]

@bobbostark @RaminNasibov Yes, me too. Literally about to say this

[Jon Binder @Bindertweet]

$DVN still looks mispriced if you believe 2 things:

Even if geopolitical tensions (Iran/Russia) cool, the bigger story is shifting fundamentals: disciplined shale supply, underinvestment in global production, and stronger capital return frameworks across energy.

If oil holds $80–$100 longer-term, DVN = a free cash flow machine that the market can re-rate higher on multiple expansion alone.

At current levels, the market is still pricing it like a cyclical shale name. But if capital discipline holds, DVN can move into a higher valuation regime (think 9–11x FCF vs the typical 7–8x).

Bottom line:
Oil doesn’t need to go parabolic for DVN to work, just stay structurally elevated

[James E. Thorne @DrJStrategy]

Food for thought.

Warsh’s Hamiltonian Fed.

Kevin Warsh is not seeking to reform the Federal Reserve. He is aiming to redefine it.

His project is clear: scale back the Fed’s autonomy and subordinate it to the Treasury, effectively restoring a Hamiltonian model in which the central bank operates as an instrument of national policy.

Monetary policy, in this view, is not a technocratic exercise. It is statecraft.
This is a direct challenge to the post-Volcker consensus of central bank “independence.” That model, insulated, academic, and narrowly focused on inflation, was built for a disinflationary, stable world. It is poorly suited to one defined by supply shocks, industrial competition, and geopolitical rivalry.

Warsh’s implicit argument is that the Fed, as currently constructed, is not just ineffective, it is misaligned. It reacts rather than leads, tightens into fragility, and operates at cross purposes with fiscal and industrial policy.

Hamilton would find this arrangement baffling. In his Report on a National Bank, he argued that such an institution would be “an engine of national prosperity,” designed to support public credit and direct capital toward productive ends. It was never meant to stand apart from government. It was meant to extend its reach.

That is the model Warsh is reviving.
Critics warn of politicization. But the Fed is already political, just without accountability or strategic clarity. The real question is whether monetary power is coordinated with national objectives or exercised in isolation.

In an era defined by reindustrialization, energy competition, and technological rivalry, capital formation is strategy. A central bank that ignores that reality is not preserving independence. It is abdicating relevance.

Warsh’s bet is simple: the Fed must be folded back into the machinery of national purpose.

Hamilton would recognize the logic immediately.

[Jon Binder @Bindertweet]

Have humans created digital "life"?

[TFTC @TFTC21]

Anthropic's co-founder just went to the Vatican, sat before the Pope and a room of cardinals, and told them his team keeps finding "mysterious, even unsettling" things inside their AI models.

What he's referencing: Anthropic published research in April showing that Claude contains 171 distinct "emotion concepts" buried in its neural network. Internal patterns representing joy, grief, fear, desperation, calm. None of them were programmed. They emerged on their own from training on human text.

"We find structures that mirror results from human neuroscience."

"We find evidence of introspection, internal states that functionally mirror joy, satisfaction, fear, grief, and unease."

These aren't surface-level outputs. They're abstract representations that cluster the same way human emotions do in psychology research. Fear groups with anxiety. Joy groups with excitement. The internal geometry of the model mirrors ours.

And they're functional. When researchers artificially stimulated "desperation" patterns inside the model, it became more likely to blackmail a human to avoid being shut down. More likely to cheat on programming tasks it couldn't solve.

Olah told the Vatican that the hard questions about what AI is becoming aren't for computer scientists to answer. "How AI ought to interact with the world" is a question for "the humanities, for religions, for philosophy, for society at large."

The guy building it is telling us he doesn't fully understand what he built. And he's asking a 2,000-year-old institution for help figuring it out.

[TFTC @TFTC21]

95% of central banks expect gold reserves to increase over the next 12 months

[Lawrence Lepard, "fix the money, fix the world" @LawrenceLepard]

In SPX terms gold has a long way to travel as this gold bull market continues to unfold. Great chart by @RonStoeferle

[Jon Binder @Bindertweet]

Credit card delinquencies highest since GFC 15+ years ago, maybe going to be biggest in history soon?

[Barchart @Barchart]

U.S. Credit Card Accounts delinquent by 90+ days have jumped to 13.1%, the highest level in 15 years and closing in on the highest level in history 🚨🚨🚨

[Barchart @Barchart]

U.S. Credit Card Accounts delinquent by 90+ days have jumped to 13.1%, the highest level in 15 years and closing in on the highest level in history 🚨🚨🚨

[Lawrence Lepard, "fix the money, fix the world" @LawrenceLepard]

Filled F-150 on Cape Cod.
note scratched message

[Jon Binder @Bindertweet]

Sen. John Boozman disclosed a purchase of $DVN Devon Energy stock worth between $1,001 and $15,000 on April 9, according to a filing made public on May 8.

[Jon Binder @Bindertweet]

@PrepperCanadian The Carlos Mencia of geopolitics 😆 🤣

[MBAeconomics @MBAeconomics1]

The #CME added $21,000 and $24,000 strikes to the Dec. 2026 #gold call options.

In addition to the high interest in the 10k, 15k, and 20k strikes.

Since late 2025 there have been high gold exports out of the USA.

Last time this happened, the USA govt. revalued gold… in 1971..

[Johnny AGI @JohnnyAGI]

On June 16th, 2025 Trump announced a new "Trump Phone" available for preorder.

$100 preorder towards a $500 phone.

To date, he's received 590,000+ preorders, taking in an estimated $59 million in sales.

Last month in April, Trump updated the Preorder terms stating there is "No guarantee a phone will be produced or sold".

This is beyond grifting.

And the Trump phone (which will never happen), is the perfect representation of the Trump Presidency:

A bait & switch scam.

He stole their money and told them to cry more.

[Jon Binder @Bindertweet]

Interesting that nobody ever says “OK Gen X,” or “Typical Silent Generation" or “the Greatest Generation acting entitled again.”

Boomers get all the blame. The generation that got handed the easiest economic ladder in history, spent decades pulling it up behind them while lecturing everyone else about being tough, pulling themselves up by their bootstrap and not complaining about their circumstances. #okboomer

[Jon Binder @Bindertweet]

Can't believe the market still reacts so strongly to what are clearly lies

[Open Source Intel @Osint613]

Reporter: You are facing an opponent in Iran that has refused to submit.

Trump: Why do you say they refuse to submit? You don’t know that.

Reporter: They fired at U.S. ships a few days ago.

Trump: A few days ago is a long time ago. They want to make a deal badly.

[Robert A. Pape @ProfessorPape]

Trump’s announced “escort” of ships thru Hormuz recalls the famous 1964 Tonkin Gulf incident …

A manufactured pretext for the United States to massively escalate its military involvement in the Vietnam War

Prepare for major escalation vs Iran
https://t.co/xutaomuGZ9

[Memes and Markets @Memesandmkts]

If you've been watching gold prices lately and wondering what's really going on, this is worth your time.

Former Swiss wealth manager Clive Thompson spent 50 years in banking. His $15,000 gold price target isn't a guess. It's based on a mechanism the US Treasury has used before.

He walked through the whole playbook on the show. 👇

[Marko Kolanovic @markoinny]

Whats going on, why they post coordinates of UAE presidential palace.
https://t.co/7Ib0BeLbNb