ChipPolitical

[MeidasTouch @MeidasTouch]

NYT headline when the economy added 266,000 jobs under Biden vs. NYT headline when BLS says the economy added 172,000 jobs under Trump.

[Blue Georgia @BlueGeorgia]

Susan Rice absolutely schools Bill Maher on Iran.

[Glenn Tunes @glenn_tunes]

STRANGE HOW ELECTIONS IN AMERICA WERE CONSIDERED SAFE UNTIL A SERIAL LIAR WHO'S ALSO A CONVICTED FELLON TOLD AMERICA THEIR ELECTIONS ARE RIGGED 🙄🤡

[Team Ossoff @TeamOssoff]

Ossoff: Last September, the President of Kazakhstan calls Donald Trump and says he wants to grant tungsten mining rights to an American company. And the very next month, Eric and Don Jr. get a stake in the American company pursuing the mining deal.

Six days later, six days after Prince Eric and Prince Don get their stake, Kazakhstan announces this company will get, “The largest known undeveloped tungsten resource in the world.” A few more weeks go by, and then the U.S. government, run by their father, sets aside 1.6 billion of your tax dollars to fund and finance their mining project. In Kazakhstan.

All this while you pay more for gas, for groceries, for health care, and that's just the tip of the iceberg.

[Chris Murphy 🟧 @ChrisMurphyCT]

The heart of our constitutional crisis in one exchange between me and Sec. Mullin. When asked a simple question - if he will obey court orders - he says he will not because some court orders are "politicized".

That's not how democracy works. And that's why we are in a crisis.

[chiky handler @chiky_handlr]

The sickest thing about gas prices going from $2.84 to $4.99 in just two months is that Donald Trump is mentioned over 38,000 times in the Epstein Files.

[James Talarico @jamestalarico]

The President of the United States said I insulted Jesus.

You want to know what insults Jesus?

Kicking the sick off their healthcare.
Bombing schoolchildren in Iran.
Deporting moms and babies.
Covering up the Epstein files.

[Nature Vid @naturevid2]

This video was deleted from Facebook yesterday.

You know what to do ‼️

[Bull Theory @BullTheoryio]

🚨Michael Burry just said Elon Musk and Nvidia's deal is built on fake numbers.

Burry published a detailed breakdown calling the entire structure "Fugazi", his word for fake.

He is alleging that billions of dollars in Nvidia chips are being hidden off balance sheets, and that American retirees are unknowingly funding the whole thing.

Nvidia, the world's largest AI chip company sold $5.4 billion worth of its most advanced GPUs, the GB200, to a company called Valor.

Valor is not a real operating business. It is a special purpose vehicle, a shell company created specifically to hold these chips and nothing else. Nvidia also invested $1.9 billion of its own money directly into Valor on top of the sale.

Those 100,000+ chips are now physically inside xAI's data center. xAI is Elon Musk's artificial intelligence company, the one that builds Grok. xAI is using every single one of those chips right now to run its AI models.

But here is what Burry is flagging.

Neither Nvidia nor xAI owns those chips on paper. Valor, the shell company holds legal title. That means $5.4 billion in GPU assets do not show up on Nvidia's balance sheet as inventory.

They do not show up on xAI's balance sheet as assets. They are legally invisible to both companies.

Nvidia gets to book the $5.4 billion as a completed sale and record it as revenue. xAI gets full use of the chips without owning them. And the risk disappears into a shell company in the middle.

Now here is where American retirees enter the picture.

Valor needed $3.5 billion in debt to fund this structure. Apollo provided it. Apollo is one of the largest asset managers on earth with $1.03 trillion under management and $834 billion specifically in private credit.

Apollo raised the $3.5 billion, packaged it into debt securities, and sold those securities to Athene.

Athene is Apollo's own insurance company. It sells fixed and indexed annuities, retirement savings products, to ordinary Americans.

When a retiree buys an Athene annuity, they believe their money is sitting in safe, stable investments. That money is now inside a structure funding Elon Musk's AI data center.

The numbers inside Athene are most alarming.

Athene holds $74.2 billion in reserves. It has moved $217 billion in assets into a captive insurer based in Bermuda, meaning those assets sit outside normal US insurance regulation and oversight.

Of the entire portfolio, 34.7%, equal to $103 billion, is classified as Level 3 assets.

Level 3 is an accounting classification that means there is no observable market price for these assets. No outside party can independently verify what they are actually worth.

The leverage sitting on top of those unpriced assets is 16 times.

Burry's says:
Every step of this structure is technically legal and publicly disclosed. But the entire thing was deliberately engineered across 8 to 12 steps to move credit risk off balance sheets and away from any market pricing.

- Nvidia books the revenue.
- Apollo collects the fees.
- xAI gets the computing power.
- And retirees sitting at the bottom of a 16x leveraged Bermuda insurance structure, holding $103 billion in assets with no market price carry the risk without knowing it exists.

[Miles Taylor @MilesTaylorUSA]

Today…

Judge orders Trump’s name OFF Kennedy Center.

Iran “deal” blasted as defeat.

Musicians bail on his concert on the National Mall.

DHS agent arrested for MN shooting in Trump’s immigration crackdown.

Approval rating hits low 30%.

Have a great weekend, DJT.

[George Conway ⚖️🇺🇸 @gtconway3d]

Bottomless corruption.

Endless.

Unfathomable.

[Chris Murphy 🟧 @ChrisMurphyCT]

These days I’m at a loss for words. The new corruption scandal is just bananas. Trump has been using inside information to trade stocks and make millions. And the scale of the trading is just mind blowing.

Here’s what we know.

[Miles Taylor @MilesTaylorUSA]

@LindseyGrahamSC You’re a seashell of your former self.

I regret ever supporting you on Capitol Hill.

Your legacy will be lost under the boot you licked until the end.

[Hoodlum 🇺🇸 @NotHoodlum]

Elect a clown, expect a circus. And boy, did we get one.

[Turnbull @cturnbull1968]

Allow me to be the first to congratulate the MAGA morons, who spent years howling about the $1.7B that Obama returned to Iran.

Your 4D chess master is handing Iran $300B, to open the Strait of Hormuz, that Obama kept open for free.

Brilliant!

[Brian Krassenstein @krassenstein]

Todd Blanche is covering up rape while criminally investigating a woman who won $80 million because the President (his former client) raped her.

History will remember this man as an evil, corrupt piece of shit

I guarantee it.

[The Lincoln Project @ProjectLincoln]

The Republican Party quietly deleted their own ad attacking Ken Paxton's record on crime... because Paxton is now the Republican Party's nominee to represent Texas in the U.S. Senate.

Figured if the ad is important enough to delete, it's important enough to see...

[Melanie D'Arrigo @DarrigoMelanie]

Donald Trump Jr takes a financial stake in a company…

3 months later, the Pentagon gives it $620 million…

after Trump’s White House told them to…

And the company’s valuation rose from
$200 million to $2 billion as a result.

This is corruption.
https://t.co/TLcOxyzOWO

[Turnbull @cturnbull1968]

Let me put it to you this way, if Kamala were president and all she did was sit in the Oval Office, drink wine and watch reruns of The View, our country would be ten times better off than it is right now.

[Tom Nichols @RadioFreeTom]

In other words, the war is over, we're stumbling toward some version of the JCPOA, America is out billions of dollars and lots of weapons that we didn't need to waste, and the United States is now weaker and Iran in a strategically stronger position.
And for what?