Dan is an absolutely classic example of the retards who form the modern Left and currently run the country, the path is so well trodden that you’ll instantly recognise it:
Born (1992)
School
PPE at Oxbridge (natch)
Civil service role (HMT in this case)
Local councillor (classic)
Think tank role (Resolution Foundation)
Think tank role (Joseph Rowntree Foundation)
MP
Cabinet minister (ffs)
He’s 33, and has never worked in a real job. That should disqualify him from having any ministerial role on its own. Instead, he’s been totally coddled within the lifelong safety of public sector and left leaning think tank / NGO type roles, that have prepared him for the mind bendingly retarded policies he now either helps formulate or defends. You should have 30 years+ market experience before you even think about a senior role in HMT or advising the Exchequer.
This is why the country is so utterly fucked. We have for at least ~3 decades now had an army of Dan’s running the major apparatus of state. They all float effortlessly between “think tanks” and other policy making and paid writing gigs without ever seeing a tax they didn’t like or a “rich person” they didn’t need to pay more tax. They drive the enshittification of the country through their complete lack of understanding on anything and a totally misguided sense of righteousness and ideology.
Terminally linear in thought, they lack the mental acuity or ability to create value or yield in any way, common sense eludes them entirely, they can barely understand the first order consequences of their actions, let alone the second and third.
The system attracts and retains the very least suited people in the country to making big economic decisions because anyone with any talent heads directly into the private sector. The system by default selects for retards, and they fail upward because the public sector, without the brutal feedback loops of the private sector, rewards survival over success. The compound effect of this is an embedded pseudo intelligentsia of “Intellectual Yet Idiots” on a never ending carousel of different ministerial roles. They are allowed 1-3 years of experience in one department and by the time they start to grasp the basics they are scurried along to the next department; “ok now you’ve got the basics of agriculture fancy having a go as defence minister?”
Until we remove these Fabian saboteurs from the civil service, judiciary, NGOs, think tanks and other governmental and policy forming bodies, things will only get worse in the UK. It’s as guaranteed as their jobs despite abject performance.
Let's be clear..
We're not saying whites don't commit crime.
We're not saying every migrant is bad.
We're saying that;
- The country seems to be in decline.
- It seems to correlate with the scale and speed of mass migration.
- That's why we keep voting against it.
We are quite obviously becoming less like Britain and more like the countries from which people are arriving.
Because a country is its people.
This is not a complicated point.. it's highly intuative.. and yet almost everyone on the left pretends to misunderstand it.
Bitcoin wealth levels and primary focus:
Stage 1: You have less than $1 million worth of BTC
Primary focus: Capital Accumulation
Get to $1 million worth of BTC as quickly as you can.
Today that's 8.69 BTC.
Soon it will be 6.15 BTC.
Then 1 BTC.
Stay laser-focused on your business until you bank your first 7 figures.
Do not waste your finite time and attention thinking about trading in and out of assets at this level.
You should be stack-only.
Focus on being useful to others like the robots are coming for your job.
Because they are.
Don't think the path you're on will get you where you need to go?
Then change your path.
Channel your efforts into opportunities with uncapped upside and use various forms of leverage (personal brand, AI tools, code, relationships) for non-linear growth.
Just remember: Working harder isn't the answer. You can accelerate your capital accumulation if you work smart.
Just make sure your upside isn't capped.
One unit of input should lead to multiple units of output.
And your work should ideally compound like your assets.
Where to start?
Helping other people make more money in their business is a good rule of thumb.
E.g. AI is a new tool that few people know how to use effectively.
So help them leverage AI in their business.
There's a million niches within that one obvious idea.
You can figure it out and make anything happen.
If you want to.
Stage 2: You have between $1-$5 million worth of BTC.
Primary focus: Capital Allocation & Preservation
At this point you should increasingly focus on your own investor psychology, mindset, and risk management.
You have some momentum at this stage.
Keep it rolling.
Keep stacking Bitcoin and milking your personal cashflow.
But realize that you're closing in on escape velocity.
And your main job is to not screw it up.
BTC's 40-50% CAGR means you're looking at adding $400-$500K to your net worth on autopilot.
When taking taxes into consideration, that's like earning close to $1 million per year in income and saving all your after tax income.
Something that very few people ever manage to do.
This is the point where your BTC starts to make money faster than you likely can through your own effort.
Which means you should shift a portion of your time into mastering your investing psychology.
You need to be mentally prepared for likely market scenarios.
You need to have a plan.
You need to know yourself, and know how you'll react when volatility strikes.
Do you need a cash pile that helps you sleep at night?
How long of a runway do you need to not panic sell the next dip?
These are questions you must address.
You're on your way to generational wealth.
And you cannot afford to screw up at this stage.
Stage 3: >$5 million in BTC. Escape velocity.
Focus on Time Allocation.
Many people in the fiat world don't see $5 million as "enough" to retire.
But that's because inflation is usually outpacing the returns of their "safe" investment portfolio.
But if you have $5 million in BTC, you're adding ~$2 million to your net worth each year, and it's compounding (as long as you have a long time horizon).
You can spend $20K-$25K a month and still watch your wealth accelerate.
At this point, you should take a minute to recognize that the future is uncertain.
AI and robotics will soon change everything as we know it.
And you will never have as much time as you do now.
At this point, you need to be deliberate with how you allocate your time.
Imagine you only had 5 years left to live; would you be spending your days as you are now?
What would you change?
You've essentially solved the money problem.
Now your focus should be on how to live well in a way that doesn't require extreme extravagance.
That way when you get to $100 million net worth in the next decade you know how to enjoy your good fortune without relying on ever more money to do so.
Find activities that you enjoy and that you can compound over the long-term.
Do things that make you feel alive and don't lead to a "hangover" later.
Prioritize your health and family.
Congratulations, you've won the money game.
And your reward is that now you get to pick a new game to play.
Choose your next adventure wisely.
Why #Bitcoin Miners Might Catch-Up Quickly! 🧵
Bitcoin miners are uniquely positioned to capitalize on the #bitcoin's explosive potential, and $CLSK is a standout performer.
With Bitcoin at $98K, $CLSK is not only crushing its operational targets but also sitting on a powder keg of high short interest and off-exchange short volume.
Could a short squeeze send $CLSK soaring even higher?
Let’s dive into the numbers, the catalysts, and why $CLSK’s fundamentals make this more than just a speculative bet. 👇
For context, 1m is a farm of around 40 acres.
The average UK farm size is 217 acres, so the vast majority of farms will be subject. This is a disaster for farming; expect small farmers to sell up, big ones to hoover up and internationals to move in.
This is insane.
This is INSANE.
This is a blatantly obvious sign of the impending doom of the U.S. Dollar and all fiat currencies.
*This is as important as anything you will read this year*
The United States Treasury issues bonds and other investment securities.
They call these, “treasuries.”
The U.S. Treasury issues treasuries when the U.S. Federal Government spends past their budget, resulting in a “budgetary deficit.” The sale of treasuries makes up for the loss.
The treasuries are sold and tacked on as debt. This is the substance of the big $34 trillion debt number in the United States.
Key point: The U.S. Federal Government has been in a budgetary deficit in 49 of the last 53 years, with the last surplus year being in 2001.
But yet, even in that 2001 “budgetary surplus” year, the total debt amount increased.
Why?
Because a whole bunch of debt from years past came due.
The U.S. Treasury issues their treasuries with time periods of ownership ranging from 4 weeks to 30 years.
So, in 2001, the government had debt coming due that was issued to investors in 1971, as well as 1981, 1991, 1994, 1996, 1998, 1999, and the previous year.
The debt that was due in 2001 exceeded the budgetary surplus (debt issuance is not a part of the budget), thus, the government had to issue new debt to pay off the old debt, adding on further to the debt total.
Key point: The U.S. Treasury, which is part of the U.S. Federal Government, has to sell new debt to new investors to pay off the old debt from old investors. This is because of 1) the constant budgetary deficits and 2) the debt from years past coming due.
Key point: Being that the definition of a Ponzi scheme is, “An investment scheme where new investor money is used to pay off old investors.” …The U.S. Federal Government is running a Ponzi scheme. To the tune of $34.7 trillion, and counting.
Trillion is just a word. Let’s make sure we note the significance.
A *billion* seconds ago was 1993 (31 years ago).
A *trillion* seconds ago was 30,000 B.C.
And then multiply that trillion by 34.7.
That’s the scale of the United States debt bill.
But WAIT. It gets worse.
Key point: The U.S. Treasury always has to have buyers of its debt, because if they don’t, they won’t be able to pay off 1) their deficit spending and 2) the old debt coming due (and the interest on the debt). If they fail to pay those off, the Government would default and collapse.
Well, then, who buys all the U.S. Government debt?
Key point: The largest buyer and owner of the U.S. Federal Government debt is THE U.S. FEDERAL GOVERNMENT THEMSELVES.
Don’t trust, verify:
TAKE A SECOND TO CONTEMPLATE HOW INSANE THAT IS.
The U.S. Government spends in a budgetary deficit, then issues treasuries to pay for the spending, then, at a bigger rate than anybody else, buys the treasuries to cover the loss. An unbelievable Ponzi scheme.
The U.S. Government is the director of the Ponzi scheme, the old investor, and the new investor. A true masterclass.
But how do they do this? They have a money printer. It's that simple. The debt might as well not be real.
Key point: The United States is not the only country that runs this playbook. 182 of the 222 countries in the world are in budgetary deficits. The Ponzi scheme is everywhere.
The U.S. is the kingpin of the modern monetary world. They are the head honcho, the high priest, the big cheese.
The current global financial economy is built on the backs of the United States.
There would be a massive problem if the United States had debt buyer troubles.
In short, an increasing amount of investors are growing scared of the United Stages debt situation, turning them away from the purchasing of U.S. Treasuries.
Recent headlines:
“Treasury bond auction runs into weak demand amid fears that soaring US debt will overwhelm Wall Street” -October 12, 2023
“30-Year Treasury Auction Breaks Bad, Sinks Stock Market” -November 9, 2023
“World to Drown in U.S. Debt; Moody’s Downgrades Country’s Debt” -November 17, 2023
“5-Year Treasury Auction was a Dud” -January 24, 2024
“Treasury's $16 billion auction of 20-year bonds produces 'very ugly' results” -February 21, 2024
"Highest Treasury Yields of Year Fail to Tempt Buyers to Auction" -April 11, 2024.
With lower demand, and as quote tweeted below, the U.S. Treasury is starting a "treasury buy back operation," aimed to, as they say, "improve liquidity in the treasury market."
What's really happening is that the Treasury is using their money printer to directly buy the treasuries they are issuing, ensuring those low demand treasury auctions don't continue. This causes inflation in the money supply, which is a dangerous outcome.
Here's where the cookie crumbles:
The United States central bank, the Federal Reserve, has a 2% inflation target. Inflation has not been at 2% recently, and, in fact, has been accelerating higher for three months in a row.
The Federal Reserve has set high interest rates, currently at 5.25%, as a method of discouraging borrowing, spending, and taming inflation.
But it's not working. And there's a bigger problem.
Key point: The U.S. Federal Government pays interest to investors that own the treasuries, and this interest is part of the budget. Higher interest payments = more federal spending = bigger budgetary deficits = more debt issuance = higher supply of treasuries = lower demand = less buyers = Treasury printing = higher inflation = higher interest rates = higher interest payments.
A catastrophic feedback loop.
The interest paid out by the Federal Government has spiked in recent years:
The United States Dollar is screwed.
The Federal Reserve has set high interest rates to tame inflation, but that's not working. High interest rates are causing bigger interest payments, causing larger budgetary deficits.
This is causing the U.S. Treasury to issue more debt, which investors are getting scared of (because of runaway inflation and compounding debt levels), which is now causing the Treasury to print money and provide "liquidity" to stabilize the treasury market, adding fuel to the inflation fire once more.
The Federal Reserve can further raise interest rates to cool inflation, but that would increase interest payments and deficit spending, requiring even more debt issuance and "liquidity," which fuels inflation. An increase in interest rates could also cause a massive recession or depression, which would grind the economy to a halt, which would mean that the government is taking in less tax revenue, while still spending exorbitantly on entrenched government programs and stimulus, which would only increase budgetary deficits and debt issuance once more.
The Federal Reserve can lower interest rates, but that would immediately cause an uptick in inflation, as people are encouraged to borrow and spend with lower interest rates, which would then force the Fed to raise interest rates again.
The Federal Reserve can admit defeat and raise their inflation target to 3 or 4%, but that would signal that the system is failing, which would cause a further loss of confidence, which would result in less treasury buyers, resulting in more inflation, and would create demand for higher interest rates (because treasury investors want to keep up with inflation), which, again, causes bigger interest payments and so forth.
This is a debt spiral.
There is no way out.
You are witnessing it live. These are years that will go down in the all-time history books.
Every fiat currency has failed, and for the same reason. Turning on the money printer is too tempting.
Don't forget, the U.S. Government will never let the treasury market fail, because that would result in an automatic default on the debt and an unbelievably chaotic avalanche of collapse.
They will always turn to the money printer to bail things out. The Treasury will continue to print more money to keep the system afloat, as evidenced by their upcoming "buy back operation." But inflation is the fatal flaw.
The Ponzi scheme is in its final chapter. The endgame is here.
The inflation train has left the station, and it's never coming back.
Covid put the ruin into hyperdrive. Inflation ran away, now it cannot be tamed. It is feeding on itself, and will continue to do so, over and over, gradually, then suddenly.
And then, poof. It's gone.
Worthlessness.
If you haven't noticed, the U.S. Dollar has been heading toward the "worthless" direction for quite some time.
It is inevitable. The U.S. Dollar, and all fiat currencies, will die.
The Phoenix will then rise from the ashes.
An innovative, specifically designed, global, unprintable, unable to be manipulated, verifiable, instantaneous, digital monetary system will emerge, unchained from the grasp of bankers and governments, once and for all.
...and the world was fixed.
Fix the money, fix the world.
#Bitcoin
The Euro has lost 99.5% of its value vs. #Bitcoin in less than 10 years.
Meanwhile, 97% of all trading days are in profit for Bitcoin.
Meaning anyone who has euro-cost-averaged into Bitcoin instead of holding onto the ECBs flaming garbage is massively in profit right now.
People use Bitcoin as a way to escape from the systematic time theft that your organization enacts on an entire continent.
When you debase currency, you are stealing the time and energy that people put into their work.
Your policies force people to work harder and longer just to keep up with inflation.
Your organization is responsible for much of the moral decay, exacerbation, and hopelessness that is widespread today.
You have zero moral high ground.
NEW: #Bitcoin mania can have Tulip-mania like outcome, warns @RBI governor Shaktikanta Das after SEC approves spot #BitcoinETF
"Tulips are not durable, not scarce, not programmable, not fungible, not verifiable, not divisible, and hard to transfer. But tell me more about your analogy" - @naval
@dotkrueger@julysownj@fundstrat You can hold them in an ISA. And if you buy during the bear market low then sell at the right time you can outperform bitcoin by a long way.