Val del Alighieri

🧛 👽

[James E. Thorne @DrJStrategy]

This bull cycle will last far longer than Wall Street expects.

There is no bubble. AI infrastructure and semiconductor demand are still in the early stages, supporting S&P 500 earnings growth toward $650 by 2031.

Inflation is not the issue many claim; a supply shock simply changes relative prices. Why does everyone forget their undergraduate economics?

Warsh is not a hawk.

We are also heading toward a constructive Iran deal that restores risk-on momentum.

Ignore the doomers. This cycle has substantial room to run.

[James E. Thorne @DrJStrategy]

Bitcoin, Perfect Scarcity, Imperfect Critics

Bitcoin’s fiercest critics keep missing the target. The new bear case is not about bugs in the code, but about one public company accumulating a perfectly scarce asset in a world of perfectly elastic money.

Strategy, the artist formerly known as MicroStrategy, has turned its balance sheet into a bitcoin vault. This, we are told, proves structural fragility: a single, promotional buyer supposedly props up the price, concentrates supply, and creates a future liquidation overhang. If that balance sheet ever de‑risks, the story goes, bitcoin and Strategy’s equity go over the cliff together. Never mind that the company controls less than 5% of outstanding bitcoin, a meaningful hoard, but hardly a corner. Many of the loudest market voices are happy to repeat the script, treating bitcoin as little more than a speculative circus act.

Yet in gold, the same behaviour is treated as statesmanlike. Central banks quietly warehouse bullion with opaque disclosures and openly political motives. How soon we forget the Brown Bottom. When they blunder, as with Gordon Brown’s infamous decision to dump UK gold near the secular low, it is remembered as bad timing, not as evidence that gold is unfit to be money.

Bullion trusts exist for the sole purpose of locking metal in a vault. Streaming companies such as Wheaton Precious Metals sign long‑dated claims on future production, giving shareholders geared exposure to the same finite resource. No one concludes that this pattern of hoarding renders gold “uninvestable.” It is simply how a reserve asset lives.

The double standard is not accidental. Implicit in the consensus is that central‑bank hoarding is respectable, while bitcoin hoarding is suspect. Markets yawn when official institutions add a few more tonnes of gold. They scoff when the Sec of the Treasury Scott Bessent in recent testimony, suggest that the United States methodically moving toward a strategic bitcoin reserve. Gold reserves are “prudence.” A bitcoin reserve is “crankery.” Hoarding is fine, apparently, so long as it never threatens to introduce perfect scarcity into a fiat system that depends on its opposite.

Bitcoin perfect scarcity in a fiat world run wild is now ignored, even by high profile pundits.

Seen clearly, Strategy’s accumulation is not a fatal bug in bitcoin, but a tell about its critics.

When gold is cornered by states and vehicles, it is applauded. When less than 5% of bitcoin is accumulated by a listed American company, it is denounced. That asymmetry says less about bitcoin’s weakness than about the political system’s fear of anything it cannot print. And yes the bias of many who should know better.

$MSTR #Bitcoin @theallinpod

[Peter H. Diamandis, MD @PeterDiamandis]

The same country that put humans on the Moon in 1969 now takes an average of 4.5 years to approve major infrastructure permits.. longer than it took to build the Panama Canal. 

Transmission lines average 10 years from permitting to completion. The bottleneck to abundance is not technology, but BUREAUCRACY!

[Gad Saad @GadSaad]

The only thing that stops violent men from raping you and your society are other men who are equally willing to be violent in stopping the rapists. The West has decided that the highest virtue is to quietly comply with the destruction of your civilization because to do otherwise is bigoted toward the rapists. It really is that simple.

[Simon Dixon @SimonDixonTwitt]

🇦🇷 Peter Thiel has temporarily relocated his family to Argentina, purchased a $12 million mansion in one of Buenos Aires’ most exclusive neighborhoods, and enrolled his children in local schools.

🇺🇸 When a state like California starts introducing a wealth tax, it is not because politicians are socialist or stupid.

It’s because they want to drive out the wealthy on purpose and reduce the tax base, deliberately asset-stripping the state for private institutional ownership that can use the tax code to secure exemptions and advantages.

It’s not because politicians are stupid.

It’s not because they are radical left-wing communists.

That’s the narrative that keeps you locked into the belief that the left has the back of the poor, while the right gets to point at the left when the state goes to shit.

It’s because the state is being acquired by the financial-industrial complex, and the resulting civil unrest serves the private prison sector of the military-industrial complex.

At the same time, they install a police and surveillance system that benefits the technological-industrial complex powered by Palantir.

The same one Peter Thiel works for.

It’s a business model.

Anywhere you see a wealth tax, it’s an end-game asset-stripping exercise that gives more power to the wealthy, not less.

They are not coming after billionaires.

They are transferring wealth to billionaires.

By design.

ALL POLITICIANS WORK FOR THEIR CORPORATE LOBBIES.

Stop believing in left-versus-right politics.

It’s a distraction from the reality that you vote with your money.

[Ethan Brooks @alt_w_v_g]

My wife mentioned a nice private school over dinner this week
She said the campus was beautiful
I asked what's the tuition
She said we should look at it as an investment in him not a cost
I made a note
She said don't make a note
I said I always make notes
She said this isn't a deal
I said everything is a deal
She closed her eyes

She said we'd discuss it Saturday
I agreed

Saturday 7:02am
She came downstairs in her Saturday robe
Coffee in hand
I had my cargo shorts on

The dining room had been cleared
The projector was on
The analyst was at the head of the table
Quarter zip on, three iced coffees, a legal pad, and two laptops
He had been there since 6:44am

I texted him at 11:14pm Friday
The text said dining room 6:45am bring the model
He sent a thumbs up

My wife stopped in the doorway
She said what is this
I said you said you wanted to discuss it
She said this is not a discussion
I did not respond
She sat down anyway

The analyst stood
He said good morning ma'am
She did not respond
He sat back down
A printed deck in front of each seat
A fourth copy in case

Slide 1 Tuition Schedule
$38,500 per year
Thirteen years
$500,500 nominal
Before escalators
The school has raised tuition 4.2% per year for a decade
With escalators $648,000
My wife said okay
I said I'm not done

Slide 2 Opportunity Cost
Even before escalators
$38,500 invested annually
10% nominal return
S&P long-run average since 1928
By his eighteenth birthday $944,000
My wife said we can afford it
I said I know that's not the slide

Slide 3 Terminal Value at Age 65
$83 million
She was quiet

The analyst slid the sensitivity tables across the table
8% return $31 million
10% return $83 million
12% return $222 million
She did not look

She said this isn't about money
I said it's always about money
She said no it isn't
I said then what is it about
She did not answer

She said you can't put a dollar value on his teachers his classmates his environment
I said I can the analyst already did slide 6
He flipped to slide 6
She did not look

She said the school is the best in the city
I said best is a feeling
She said it produces the best students
I said the students were already the best before they got there

She said our son deserves it
I said our son deserves $83 million

My son walked in
He is five
Dinosaur pajamas
He looked at the projector
He looked at the open deck on the table
He looked at slide 3
He said are we modeling pre-tax or after-tax
The analyst opened a new tab
My wife looked at the ceiling

He said what's the discount rate
The analyst set down his pen
She closed her eyes

He said is this the same return assumption from the 529 conversation
The analyst stopped typing
He looked at me
I did not say anything

She stood up
Sat back down

He said dad can I help
I said yes
He pulled up a chair
The analyst handed him a printout
He started reading

My wife watched him read
She watched him for a long time

She said his name
He looked up
She said do you like school
He said the work is too easy and the kids don't ask questions

She did not respond
She looked at the ceiling
She walked out of the room

The analyst started packing up
He said should I follow up Monday sir
I said no follow up needed

He'll be fine

Sent from my iPhone

[Simon Dixon @SimonDixonTwitt]

For the government, war is called GDP.

For the military-industrial complex, war is called revenue and profit.

For shareholders, war is called share price growth and dividends.

For the financial-industrial complex, war is called wealth transfer, bonds & yield.

For the technical-industrial complex, war is called innovation, data and beta testing.

For the people, war is called debt and inflation.

For the victims of war, war becomes the trauma and radicalisation used to manufacture the next cycle of strategic tension that justifies even more war.

The goal is never to win.

The goal is to spend as much money as possible.

The more destruction, the more reconstruction contracts.

The more instability, the more debt issuance.

The more chaos, the more resources, infrastructure and trade routes get renegotiated.

That’s the business model.

You’re not defending democracy or saving the people.

You’re defending the terrorism your governments and intelligence networks helped create, fund, arm & exploit.

And then the fear from that terrorism gets turned back on you.

While you and your children pay the bill.

While the media manufactures consent and distorts reality to cheer it along.

And if you question any of it, they call you the conspiracy theorist, extremist or domestic terrorist.

You are funding terrorism and calling it defending democracy.

And most of you don’t even know it.

You called it patriotism.

You are the product.

Get it?

[Jesse Myers @Croesus_BTC]

In the last year, the world has printed 9.3% more money.

Global M2 money supply has reached $141T in 2026.

When inflation starts to run hotter again, they will blame it on Iran and other proximate factors.

But the root driver is the money printer has been running hot for the last year. Where?

China increased their money supply by 13.6% in the last 12 months. Their M2 is now $50T, making it the largest global driver of fiat inflation.

US growth in M2 is just 4.6% over the last 12 months, making the US comparatively responsible. (But make no mistake, this means your dollars have been debased by almost 1/20th of their value in just a year.)

Since we live in a global economy, we're subject to the aggregate impact of GLOBAL money printing. The US has been accustomed to being the largest monetary base and therefore largely controlling global debasement.

But China's money supply is now 2x as large as the USA's. Your savings are being debased by Chinese monetary policy decisions and you have no control.

Nobody asked your permission. Nobody told you it was happening.

But your savings just got diluted by 9.3% in one year.

Note: I'm currently updating the Global Asset Landscape for 2026 (see prior tweet). It will be out in the next few weeks, stay tuned!

[Brivael Le Pogam @brivael]

Je veux présenter mes excuses, au nom des Français, pour avoir enfanté la French Theory (qui a enfanté la pire des merdes idéologiques : le wokisme).

Nous avons donné au monde Descartes, Pascal, Tocqueville. Et puis, dans les ruines intellectuelles de l'après-68, nous avons donné Foucault, Derrida, Deleuze. Trois hommes brillants qui ont fabriqué, dans l'élégance de notre langue, l'arme idéologique qui paralyse aujourd'hui l'Occident.

Il faut comprendre ce qu'ils ont fait. Foucault a enseigné que la vérité n'existe pas, qu'il n'y a que des rapports de pouvoir déguisés en savoir. Que la science, la raison, la justice, l'institution médicale, l'école, la prison, la sexualité, tout n'est qu'une mise en scène de la domination. Derrida a enseigné que les textes n'ont pas de sens stable, que tout signifiant glisse, que toute lecture est une trahison, que l'auteur est mort et que le lecteur règne. Deleuze a enseigné qu'il fallait préférer le rhizome à l'arbre, le nomade au sédentaire, le désir à la loi, le devenir à l'être, la différence à l'identité.

Pris isolément, ce sont des thèses discutables. Combinées, exportées, vulgarisées, elles forment un système. Et ce système est un poison.

Car voici ce qui s'est passé. Ces textes, illisibles en France, ont traversé l'Atlantique. Les départements de Yale, de Berkeley, de Columbia les ont absorbés dans les années 80. Ils y ont trouvé un terreau qui n'existait pas chez nous : le puritanisme américain, sa culpabilité raciale, son obsession identitaire. La French Theory s'est mariée à ce substrat, et l'enfant de ce mariage s'appelle le wokisme.

Judith Butler lit Foucault et invente le genre performatif. Edward Said lit Foucault et invente le post-colonialisme académique. Kimberlé Crenshaw hérite du cadre et invente l'intersectionnalité. À chaque étape, la matrice est française : il n'y a pas de vérité, il n'y a que du pouvoir, donc toute hiérarchie est suspecte, toute institution est oppressive, toute norme est violence, toute identité est construite donc négociable, toute majorité est coupable.

Voilà comment trois philosophes parisiens, qui n'ont probablement jamais imaginé leurs conséquences pratiques, ont fourni le logiciel d'exploitation à une génération entière d'activistes, de bureaucrates universitaires, de DRH, de journalistes, de législateurs. Voilà comment on a obtenu une civilisation qui ne sait plus dire si une femme est une femme, si sa propre histoire mérite d'être défendue, si le mérite existe, si la vérité se distingue de l'opinion.

C'est de la merde pour une raison simple, et il faut la dire calmement. Une civilisation se tient debout sur trois piliers : la croyance qu'il existe une vérité accessible à la raison, la croyance qu'il existe un bien distinct du mal, la croyance qu'il existe un héritage à transmettre. La French Theory a entrepris de dynamiter les trois. Pas par méchanceté. Par jeu intellectuel, par fascination du soupçon, par haine de la bourgeoisie qui les avait nourris. Mais le résultat est là. Une génération entière a appris à déconstruire et n'a jamais appris à construire. Une génération entière sait soupçonner et ne sait plus admirer. Une génération entière voit le pouvoir partout et la beauté nulle part.

Je m'excuse parce que nous, Français, avons une responsabilité particulière. C'est notre langue, nos universités, nos éditeurs, notre prestige qui ont donné à ce nihilisme son emballage chic. Sans la légitimité de la Sorbonne et de Vincennes, ces idées n'auraient jamais traversé l'océan. Nous avons exporté le doute comme d'autres exportent des armes.

Ce qui se construit maintenant, en silicon valley, dans les labos d'IA, dans les startups, dans les ateliers, dans tous les lieux où des gens fabriquent encore des choses au lieu de les déconstruire, c'est la réponse. Une civilisation se reconstruit par les bâtisseurs, pas par les commentateurs. Par ceux qui croient que la vérité existe et qu'elle vaut qu'on s'y consacre. Par ceux qui assument une hiérarchie du beau, du vrai, du bon, et qui n'ont pas honte de la transmettre.

Alors pardon. Et au travail.

[The Wolf Of All Streets @scottmelker]

This is why I believe in Bitcoin.

If you only watch 9 minutes of my content, ever, please let it be this.

[Parker Lewis @parkeralewis]

Ribeye inflation index has a big print. New price $37.99/lb. 17% inflation annualized from October. 18.5% annualized since last June. 90% cumulative since 2020. 11.0% compounded annually over 6+ years. Same ribeye, same store. High rates? Don't care. Bitcoin is the only way out!

[Camus @newstart_2024]

Chris Williamson dropped a brutal truth on Rogan:

Most people only tinker — new haircut, lose five pounds, switch jobs.

But real transformation? Rewiring your body, your country, your entire worldview? That’s unicorn-rare.

And here’s what almost nobody says out loud: the hardest part isn’t the work.

It’s the loneliness that hits when you start moving at a different velocity.

You become the weirdo training six nights a week, eating differently, journaling at dawn, chasing something you can’t fully explain. Your self-belief doesn’t stay Hollywood-strong — it flickers hard. You’re scrabbling in uncertainty, wondering if any of this is even working.

The old crew doesn’t get it. The pull back to “normal” is magnetic. You might lose entire friend groups… sometimes more than once.

That isolation isn’t a glitch. It’s the feature. The price of refusing average.

In a world built for comfort and sameness, choosing the uncertain climb is one of the last truly rebellious moves left. It forges depth most people will never touch.

I’ve lived those lonely chapters chasing my own new start. The doubt is heavy. The freedom on the other side is heavier.

What’s the biggest change you made that left you out of sync with your old circle — and did you ever find your new one?

[Elon Musk @elonmusk]

Accurate

[The Kobeissi Letter @KobeissiLetter]

Europe is in a full-blown energy crisis.

In fact, Europe's energy crisis has gotten so bad that the European Commission is now recommending Europeans to work from home.

They are also recommending using public transportation to cut fossil fuel use.

Meanwhile, new IEA data shows that Europe has just 6 weeks worth of jet fuel remaining as the Iran War shortage worsens.

As a result, many flights are expected to be cancelled on non-essential routes.

Between the Russia-Ukraine War and the Strait of Hormuz closure, Europe's vulnerability to energy supply shocks has been exposed.

We expect another wave of inflation in Europe.

[NASA @NASA]

Hello, Moon. It’s great to be back.

Here’s a taste of what the Artemis II astronauts photographed during their flight around the Moon. Check out more photos from the mission: https://t.co/rzM1P0QbOl

[NASA @NASA]

We're going around the Moon. Come watch with us. Artemis II's four-astronaut crew is lifting off from @NASAKennedy on an approximately 10-day mission that will bring us closer to living on the Moon and Mars. The launch window opens at 6:24pm ET (2224 UTC). https://t.co/X27QJejNDt

[Lyn Alden @LynAldenContact]

Still can’t believe they did this.

[Nayib Bukele @nayibbukele]

Los “periodistas”, activistas y personeros de las ONG pagadas por Open Society tienen ya 2 días afirmando que el informe de “los expertos y expertas de derechos humanos” sobre El Salvador no exige la liberación de TODOS los pandilleros detenidos desde que inició el Régimen de Excepción, pero sí lo exigen, y múltiples veces.

Ya que, si se acepta que el 100% de las detenciones son ARBITRARIAS (ver imagen 1), todo Estado estaría obligado AUTOMÁTICAMENTE a liberar al 100% de detenidos.

Nadie, y menos alguien que dice ser defensor de derechos humanos, puede argumentar que es legal mantener en prisión a una persona detenida ARBITRARIAMENTE.

Calificar una detención como arbitraria es sinónimo de exigir su liberación inmediata.

Ya lo dijeron los “expertos y expertas”, pero también lo dice varias veces el documento presentado. También afirman que el 100% de detenciones han sido “sin garantías mínimas y sin el debido proceso” (ver imagen 2), lo que también obliga a su liberación inmediata.

Por cierto, también dice que encarcelar a alguien por ser quién es (pandillero) y no por los delitos cometidos es una violación a sus derechos humanos (ver imagen 3); es decir, que si alguien es pandillero y tiene tatuado MS13 en la frente, no puede ser detenido por eso, sino que deben probársele otros delitos, ya que no se puede “penalizar al autor por ser quién es”, como si ser pandillero fuera un derecho de identidad.

El informe incluso exige LITERALMENTE al Estado de El Salvador:

1. Poner fin al Régimen de Excepción.
2. Derogar la legislación penal, procesal penal y procesal juvenil que lo acompañan.
3. Sacar a la Fuerza Armada de la seguridad pública (ver imagen 4).

De verdad me alegra que se hayan quitado totalmente la máscara; así todos, dentro y fuera de El Salvador, pueden ver claramente los objetivos de estas organizaciones, que no son más que los bufetes legales internacionales del crimen.

Su objetivo es claro: quieren ver caos en nuestros países.

[Elon Musk @elonmusk]

🍀 Happy St Patrick’s Day! 🍀