Yen Devaluation Next Wave Incoming? Is the Carry Trade Deepening Dangerously?
In a bid to preserve the build out of the surveillance grid, before a debt reset.
Starting our Livestream click below=>
https://t.co/4IejDjwXWg
🚨AI CREDIT STRESS IS DIVERGING SHARPLY FROM STOCK PRICES:
Hyperscaler credit spreads have widened to 153.5 bps over Treasuries, up from ~118 bps in February, the widest since Goldman Sachs launched this basket.
Meanwhile, the hyperscaler equity basket has gained just ~3% over the same period, highlighting a growing divergence between equity and credit market sentiment.
A credit spread measures the extra yield investors demand to hold a company's bonds over Treasuries. A wider spread means investors require more compensation for risk and to absorb the new bond supply.
At the same time, the cover ratio for hyperscaler bond deals, which measures investor demand relative to the amount of bonds issued, has fallen from ~5x in February to below 2x in July.
This comes as hyperscalers are expected to spend a combined ~$5.5 trillion on AI capex through FY2030, with roughly half likely financed through investment-grade bond markets.
This would require the IG bond market to absorb ~3.5% of additional net issuance every year, close to the ~3.1% average inflow cushion the USD market has had over the past 3 years, leaving little room for error if Fed rates rise or credit demand weakens.
Credit markets have historically been the first to sniff out trouble well before stocks catch on, and if this stress keeps building, equity investors betting on the AI trade may eventually feel the fallout too.
Western Women are being lured into Only Fans to make quick cash & society has normalised Porn & depravity.
Only Fans runs ads on Facebook during make up tutorials in Australia trying to recruit young Western girls.
As discussed with @capitalcosm
This is a property and debt crisis with a tech theme, more 2008 sub-prime than 2000 Dotcom.
It's just B2B borrowing for unicorns and the property is chicken coops for chips, with a lifespan [Rental payment cycle] of around 3 years.
🚨 NEVER FORGET.
The SMARTEST kids in the room are the fixed income guys.
They just started charging the hyperscalers for the AI buildout. Goldman's hyperscaler bond basket spread: 151 basis points, a record wide, and the move is vertical since June.
Remember the chart of hyperscaler free cash flow going negative? This is its sequel. First the cash ran out. Now the creditors want more for the next round.
Equity investors are still pricing the buildout as unlimited. The debt market just repriced it as borrowed.
Credit always turns first. Equity always finds out later.
But buy the abundant wealth for everyone illusion & hopium.
Unlimited fiat for all, that never delivered the serfs under the control of the wannabe ruling classes before now did it.
I guess he missed the Rockefeller Lockstep agenda and all the unrealised gain taxes being mooted.. etc.. the debt bubble etc.. The cost of all these excesses will be socialised on the masses, as in sub-prime, CV19 etc.
https://t.co/SstN82giDH
The Retail Domestic Kimchi Hands bleed, as suggested. This was the new SK Hynix & Samsung buying 'demand' BTW, replacing the massive Foreign Direct Investment withdrawal.
This parabolic Korean margin loan chart is from June 6th -
Over a month before Korea's Financial Supervisory Service reported that 1.2 million leveraged retail accounts triggered margin calls July 13.
Result: 320K- 360K accounts were fully liquidated.
See why I say:
PARABOLAS ARE TRAPPED LONGS WHO TRIGGER VOLATILITY AND LIQUIDATION EVENTS
So let’s talk about US finra margin debt chart… 💣
🚨KOREAN RETAIL INVESTORS ARE GETTING WIPED OUT:
South Korea launched 16 single-stock leveraged and inverse ETFs tracking Samsung and SK Hynix on May 27, 2026, and within a month, they had grown to ~$9.1 billion in assets.
Seoul-listed SK Hynix 2x long leveraged ETF, the largest of these funds, is now down more than -40% since its debut, wiping out most of the gains retail investors piled in for.
This fund has declined over -65% since its June peak.
This comes as both chipmakers' stocks have dropped sharply in recent weeks, with daily mechanical rebalancing adding further pressure by forcing funds to buy after gains and sell after declines, exaggerating market moves.
Meanwhile, combined turnover across the two chipmakers and their associated ETFs has surged to ~73% of the entire Korean market, up from just ~31% before these products launched.
Korea's leveraged ETF experiment is turning into a painful lesson in chasing momentum.
The original economic definition is, the grim science of apportioning in a world of 'scarcity' of resources.
The truth is, there is no scarcity.
The definition sets up a role for government in the apportionment space, and with it a two tier polarisation of society of have's and have nots.
They are marketeers of FEAR.
Water never dies, it just gets transferred through various states.
The crime they see: 15,415 litres of water to produce one kilogram of beef. Every campaign, every documentary, every leaflet through the door since about 2012.
The crime they do: not reading the paper.
The figure is real. It comes from Mekonnen and Hoekstra at the University of Twente, and it is careful, peer-reviewed work. What the campaigns strip out is that the same authors split that number into three parts, because the three parts are not the same thing at all.
Green water is rain. It falls on the grass. The cow eats the grass. For beef, green water is about 94 per cent of that headline.
Blue water is the stuff that matters. Rivers, lakes, aquifers. The stuff that gets pumped, metered, fought over in court, and does not come back.
So here is the blue water, in litres per kilogram, from the same authors, same method, same units.
- Pistachios: 7,602
- Almonds: 3,816
- Walnuts: 2,451
- Dates: 1,250
- Cashews: 921
- Beef: 550
Read that last line again, then go and look at what is in your granola.
The 15,415 counts rain that fell on a Welsh hillside as a cost, against an animal that was standing in it, on land where nothing else grows, in a country where rain is the one thing we have never once been short of.
The pistachio is drinking fourteen times more of the water that actually runs out.
She is outside in the rain right now, getting blamed for it.
Have you ever wondered why your education drilled Martin Luther King Jr. into you nonstop, while Malcolm X was barely a footnote - if he was mentioned at all?
You should listen to this. 🔉