SushiCat

Former Energy Industry Professional. Now Stepping On A New Journey.

**All My Post/Views Are Nothing More Than My Personal Opinions**

[Eason Mao☢ @KELMAND1]

长鑫上市的意义，远超一家企业的资本盛宴。

它证明了一件事：地方政府可以不再依赖卖地“印钱”，而是通过培育产业、孵化上市公司、分享股权增值来创造财政资源。

土地财政是一次性出让、不可再生；股权财政是循环投资、可增值退出再投入。从土地到股权，从卖地到投产业，从一次性收入到可持续的财富创造，这是中国地方政府“印钱”方式的根本性革命。

当144亿元的财政投入被资本市场放大为1.21万亿元的股权财富，当合肥用这笔财富继续设立50亿元的新基金投入下一个产业赛道，一个全新的财政循环已经形成。土地这台旧“印钞机”正在熄火，股权这台新“印钞机”正在轰鸣。

长鑫的上市不是终点，而是一个新时代的起点：一个地方政府学会用股权“印钱”的时代开始了。

[Eric Yeung 👍🚀🌕 @KingKong9888]

RIP Debby. You were a good girl. You brought our family so much love and joy over the years.

[Northstar @NorthstarCharts]

GOLD - I told you this drop was coming. When it's over, $7000-$8000 is the next target 👇

[PANews丨APP全面升级 @PANewsCN]

2026菲尔兹奖得主王虹，也怀疑过自己是否擅长数学

她并不是传统意义上的“数学神童”。没有接受过奥数训练，本科期间也曾经历迷茫，甚至一度觉得自己只能“生存下来”。

赴巴黎深造后，她还曾离开数学转向建筑，最终因为对数学真正的热爱重新回到研究领域

在王虹看来，数学不仅是公式和证明，更是一种理解世界的方式。小时候的一道数学题，让她开始探索其中的规律，而这份好奇最终陪伴她走向数学研究的最高舞台

2025年，王虹与约书亚·扎尔发表127页论文，攻克困扰数学界百余年的三维挂谷猜想。从北大学生，到国际高等科学研究院首位女性终身教授，她走出了一条不同于传统想象的数学道路

她曾说，遇到困难就继续学习，学不会就换个方向。菲尔兹奖或许不是终点，而是她继续探索未知世界的新起点

[Pattaya Unfiltered @PattayaUnf]

THE LONG-DISTANCE "REAL ESTATE" AGENT

If you want a masterclass in blind optimism, look no further than the long-distance relationship playbook.

Meet our hero. He lives in Australia, his girlfriend lives in Pattaya, and she works as a "real estate agent." They are deeply in love and planning to get married. There’s just one tiny administrative glitch: every time he video calls her, she is somehow inspecting properties with clients at a beach club on Beach Road at midnight, or doing a "site visit" at a VIP booth in Club Republic with a cocktail in her hand.

When he asks why her real estate office looks suspiciously like a nightclub, she gives him the ultimate Pattaya survival phrase: "You think too much, baby."

Case closed. After all, her Facebook profile is pristine — just 400 photos of one-bedroom condos in Pratumnak and rental flyers. Nothing suspicious here. Just a dedicated, hardworking realtor grinding out those commission checks at 2 AM.

The distance makes the heart grow fonder, but it also makes the imagination run wild. Have you ever known someone who bought completely into the "she’s just working late with clients" excuse?

Follow @PattayaUnf

#farang #walkingstreetpattaya #bargirl #pattayalife #pattayanightlife #pattayabars #Pattaya #Pattayathailand #ThailandLife

[二爷Alex @Alex8282019]

中国在某些技术方面在近十年从抄作业到反超，除了改开几十年人才的积累，我觉得很重要的一个原因，就是规模化市场的存在，足以让任何一种新技术、新生态得以大规模应用和反馈，并反哺技术的创新。而且完整的产业链使得更新迭代的速度比其他国家快。发达国家中，除了美国，没有第二个具备这样的规模化市场和产业链。

如果中国在将来不分裂、不战乱的情况下实现民主化，再来一波制度性的红利，经济、科技全面超越美国并不是不可能。甚至可能就是一代人。

站在个人的角度，生活在大国、小国并不是决定发展的决定性要素；但对于国家而言，从历史规律的角度，大国始终占据着后发优势。小国未必是弱国，但强国一定是大国。

[Eric Yeung 👍🚀🌕 @KingKong9888]

On July 24, 2026, the Chinese government is directing all qualified retail players in SGE physical gold forwards contracts toward the Hong Kong OTC gold market, where trades will be cleared through the new HKPMCC.

At the same time, it is steering retail leveraged paper gold players toward the Shanghai Futures Exchange (SHFE).
This move de-risks the Shanghai Gold Exchange by reducing leveraged retail speculation, making it a cleaner physical market.

Simultaneously, it strengthens Hong Kong’s emerging gold hub with higher-quality liquidity. It also channels retail speculative flows into SHFE, which could widen the SGE-SHFE arbitrage spread and prompt banks to import more physical gold from Western exchanges to feed SHFE warehouses.

[Pattaya Unfiltered @PattayaUnf]

THE BAHT BUS CINDERELLA: 2 AM GREY GOOSE AND 6 AM REALITY

If you want to understand the absolute duality of Pattaya, you have to stay awake until sunrise. You have to watch the magic spell break.

2:00 AM. Club Republic on Walking Street.
Nan is a queen. She is sitting in the center of a VIP leather booth, bathed in red laser lights and the heavy bass of EDM. Next to her is Jason, a 30-something tourist from Perth who just dropped 15,000 Baht on two bottles of Grey Goose.

When the waitresses bring the bottles out with the sparklers blazing, the whole club looks at their table. Nan tosses her perfectly ironed hair, takes a sip of her cocktail, and laughs at something Jason says in his thick accent that she doesn't actually understand. She is wearing a tight Zara dress, flawless makeup, and heels that make her legs look a mile long.

In this exact moment, surrounded by smoke machines and flashing lights, she looks completely untouchable. She looks like the wife of a millionaire. Jason looks at her and thinks he has conquered the city. He is buying the ultimate Pattaya illusion, and Nan is delivering an Oscar-winning performance.

5:30 AM. A hotel lobby on Beach Road.
The illusion is over. Jason is passed out face-down on the King-size bed, snoring loudly. The Grey Goose has done its job. Nan quietly slips out of the sheets. The club lights are gone, replaced by the harsh, unforgiving fluorescent lights of the hotel elevator.

She walks into the bathroom and begins the deconstruction. The 4,000-baht dress comes off, carefully folded into her bag so it doesn't get ruined. The high heels are kicked off her aching, blistered feet.

From her tote bag, she pulls out her actual uniform: an oversized, faded Doraemon t-shirt, grey cotton sweatpants, and a pair of 50-baht rubber flip-flops. She takes a wet wipe and aggressively scrubs off the bright red lipstick and the heavy eye shadow. The untouchable VIP queen disappears down the sink drain.

What is left in the mirror is a 27-year-old, exhausted woman with dark circles under her eyes, who just wants to sleep.

6:15 AM. Second Road.
The sun is coming up, casting a yellow, sweaty light over the city. The streets smell like exhaust fumes and grilling moo ping (pork skewers).

Nan climbs into the back of an empty blue Baht Bus (songthaew). There are no VIP leather sofas here. Just hard metal benches. She sits in the corner, pulling her knees to her chest because the morning breeze is chilly.

She opens her small Hello Kitty coin purse. Inside are three crisp 1,000-baht notes from Jason. She carefully folds them and hides them in the hidden zipper pocket — that is the money for her mother’s hospital bills and her daughter’s school uniform in Isaan.

Then, she digs her fingers into the bottom of the purse, searching past a broken lighter and a tube of lip gloss, until she finds a coins. She holds it tightly in her fist.

The Baht Bus approaches her dark, narrow Soi in North Pattaya. Nan reaches up and presses the buzzer. The truck screeches to a halt. The girl who was drinking premium French vodka just four hours ago steps down onto the dusty road, hands the driver coins, and walks toward her 4,000-baht-a-month windowless room to sleep until 3 PM.

And then, she will wake up, put the heels back on, and do it all over again.

Tourists fall in love with the 2 AM version of these girls. They think the sparkling lights and the VIP tables are real life. But the truth is, the realest, most honest version of a Pattaya girl is the one sitting in the back of a Baht Bus at 6 AM, wearing sweatpants, holding a coins

Follow @PattayaUnf

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[Otavio (Tavi) Costa @TaviCosta]

Gold appears to be forming a significant bottom here.

We are seeing all the right signs.

I know it’s still early, but remember:

Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria…

Act accordingly.

https://t.co/atIcTmyEVR

[Pattaya Unfiltered @PattayaUnf]

THE TINDER WEB TRAGEDY: HOW TO BECOME AN INVOLUNTARY PHOTOGRAPHER FOR YOUR OWN REPLACEMENT

Every expat in Pattaya eventually goes through the "I beat the system" phase. It’s a beautiful, naive period where you look at the chaotic, transactional dating market around you and confidently think: "Well, those guys are idiots. But my girl? She’s different."

Meet Gary. Gary is 44, a digital marketer who just signed a one-year lease on a nice one-bedroom condo in Naklua. For the last two months, Gary has been exclusively dating Fon. Fon is 26, works at a quiet coffee shop, doesn't drink tequila shots, and always insists on making him breakfast. She has essentially moved in. Her toothbrush is in his bathroom. Her collection of 15 different whitening creams is on his shelf.

Gary is happy. Gary has won.

Yesterday, to celebrate their two-month anniversary, Gary took Fon to a high-end seafood restaurant on the beach at sunset. It was magical. It was also exhausting, because Gary had to perform his primary duty: being the unpaid Instagram Boyfriend.

"No, baby, the lighting is wrong. Move the cocktail glass to the left," Fon instructed.
"Take it from lower down, my legs look short."
"Wait, let me fix my hair. Okay, take 10 more."

Gary snapping exactly 74 photos until Fon finally reviewed the gallery, selected one, and declared it "perfect." They held hands. They ate oysters. Gary felt a profound sense of connection.

That night, sitting on his sofa while Fon was taking a shower, Gary made a monumental, noble decision. He unlocked his iPhone, found the Tinder icon, and long-pressed it until all the apps started jiggling.

Delete App.
Are you sure?
Yes.

Gary smiled. He was a retired man now. Off the market. A one-woman guy.

Fast forward to Tuesday night. Fon tells Gary she is going to her sister's room in Jomtien to help her pack some boxes and will stay the night. "Miss you already, baby," she texts him, complete with three heart emojis.

Gary has the condo to himself. He cracks open a cold Leo, opens his MacBook, and prepares to watch some Netflix.

But Gary is a digital marketer, meaning his browser currently has 118 tabs open. As he searches for Netflix, his cursor hovers over a familiar pink flame icon. Tinder Web.

Gary suddenly realizes a fundamental flaw in his grand romantic gesture: deleting the app from your phone doesn't delete your profile from the database. He needs to log in and permanently delete his account. It’s the right thing to do.

He clicks the tab. He navigates to settings. But then, human nature takes the wheel.

"Well," Gary thinks, taking a sip of his beer. "I’m already here. Let’s just take one last look at the local ecosystem before I nuke the account. Just a quick farewell tour."

He clicks back to the main screen.
He swipes left on a girl standing in front of a Honda Click.
He swipes left on a girl heavily filtered into an anime character.
He swipes left on a girl whose profile is just a QR code to her Line account.

Swipe four.

Gary stops breathing. The cold Leo halfway to his mouth freezes in mid-air.

It’s Fon.

A green dot pulses next to her name. Active recently.

Gary’s brain scrambles to find a rational explanation. Maybe it’s an old profile? Maybe she forgot to delete it too?

And then, his eyes focus on the main profile picture. It hits him like a Muay Thai knee to the ribs.

It’s the photo. The photo.
The one from the seafood restaurant. Yesterday.
The one he squatted for. The one he adjusted the cocktail glass for.

With trembling fingers, Gary zooms in on the image on his high-resolution Retina display. There, perfectly reflected in the curved glass of the restaurant's window behind her, is a blurry, distorted reflection of a man in a polo shirt squatting like an idiot with a phone.

It’s him. He is literally in the picture. He took the high-quality, golden-hour photo that his "exclusive" girlfriend is now using to source his potential replacement.

Numb, completely devoid of emotion, Gary scrolls down to read the bio she had written.

"Single. Good heart only. Looking for a serious relationship to build a future together. No playboys or time wasters please! 🙏✨"

Gary doesn’t smash the laptop. He doesn’t call her to scream. He has lived in Thailand long enough to know the rules of the game. He simply exhales, slowly closes the MacBook, walks out onto the Naklua balcony, and looks out at the blinking neon lights of the city.

The Pattaya ecosystem remains undefeated.

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[陶瑞 TaoRay @TaoRay]

讲起来福尔摩斯，大家有没有看过银色马的故事？其实这对我们投资很有启发。这个故事中福尔摩斯说了一个特别重要的概念，不能只看已经存在的蛛丝马迹，而要思考本来应该存在的东西，为什么不在？非常适用于我们现在的市场。举一个简单的例子，沃什天天嘴炮放鹰，但为什么上一次议息会议，数据这么差，但却不加息？不能只看他做了什么，更重要的是要思考他没做什么，为什么没做？

[陶瑞 TaoRay @TaoRay]

债务货币化的山呼海啸将会是我们大部分人有生以来前所未见的。因为全球主要经济体不可持续的债务规模，是二战过后就没有再出现过的。上个礼拜，摩根大通的CEO Jamie Dimon说，我们马上就会看到如70年代的大滞胀（但那时的债务压力远远不及现在）。大家也要记得，债务货币化和滞胀，并不是08年那样的金融危机，市场会出现非常严重的分化行情。

[Sixth Tone @SixthTone]

Above a dialysis clinic in Guangzhou, southern China’s Guangdong province, 67 kidney patients sew, iron and finish garments for customers in China and overseas. Many once worked as chefs, truck drivers or machine technicians before illness pushed them out of their jobs. Three times a week, they leave the factory floor for four hours of dialysis, then return to work.

The workshop was opened in 2023 by Xie Qiang, a retired oncologist who wanted patients to earn an income without hiding their condition. In June, Sixth Tone followed the workers, managers and Xie as they tried to keep the factory running.

[Pattaya Unfiltered @PattayaUnf]

THE GURU ON THE HILL: THE ALPHA MALE OF PRATUMNAK

If you scroll through TikTok or Instagram in Pattaya, you will eventually find him.

Meet Marcus. Marcus is a 34-year-old "High-Value Men’s Dating Coach" and self-proclaimed Alpha Male. He lives in a mid-range condo on Pratumnak Hill, which he aggressively refers to as his "Sigma Headquarters."

Every morning at 11:00 AM, Marcus sets up his ring light on his balcony. He puts on a tight black polo shirt to show off his gym pump, drinks a green smoothie, and records aggressive advice for his 12,000 desperate followers.

“Listen to me, Kings,” Marcus growls into the microphone, narrowing his eyes. “If you want to survive in Thailand, you must establish absolute dominance. You control the frame. You never chase. Women are biologically wired to submit to a high-value alpha. You make the rules. Link in bio to buy my $499 course.”

It is a very inspiring speech.

What the camera doesn't show is that halfway through the recording, Marcus suddenly ducks below the balcony railing, crawling on his hands and knees like a frightened crab.

Why? Because he just heard the squeaking wheels of Auntie Lek’s noodle cart down on the street.

Marcus owes Auntie Lek 450 baht for three days of chicken pad kra pao. Auntie Lek is a 65-year-old woman from Isaan who weighs 45 kilograms, but she carries a heavy meat cleaver and has zero respect for the Sigma Grindset. Her eyes speak the universal language of: "Where is my money, you broke farang?"

Marcus holds his breath behind the glass until the cart rolls past. He wipes the sweat from his forehead, stands back up, adjusts his ring light, and clears his throat to resume his Alpha podcast.

“As I was saying, gentlemen. A true Alpha bows to no on—”

The sliding glass door behind him violently aggressively slides open.

Standing there is May. May is Marcus’s Thai wife. She is 4-foot-11, wearing oversized Hello Kitty pajamas, holding a plastic mop, and she looks absolutely furious.

“Macad!” she yells, completely butchering his name. “Why you no take out the garbage?! I tell you three times already! You think I am your maid?!”

The transformation is instantaneous. The High-Value Men’s Dating Coach vanishes. His posture collapses. His voice drops from a deep, masculine growl to the soft, high-pitched squeak of a terrified schoolboy.

“I’m sorry, baby,” Marcus stammers, desperately trying to block the camera lens with his hand. “I was just finishing my video for work. I’ll do it right now, sweetie.”

May points a menacing finger at him. “And give me 500 baht! I go to the market with my friends. You finish your stupid video, then you mop the kitchen. If the floor is sticky when I come back, you sleep on the balcony! Understand?!”

“Yes, honey. Of course. Take it from my wallet on the table,” the absolute apex predator of Pratumnak Hill replies, staring at the floor.

May grabs the money, smacks him on the shoulder with the mop handle, and slams the glass door shut.

Silence returns to the balcony.

Marcus takes a deep breath. He fixes his hair. He puffs out his chest, presses the record button, and looks dead into the lens with a serious, hardened expression.

“So remember, Kings,” Marcus says, lowering his voice back to an Alpha growl. “Never let a woman disrespect your boundaries. It’s all about mindset. Be ruthless.”

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[Pattaya Unfiltered @PattayaUnf]

THE MORNING AFTER NEGOTIATION: THE 2,000 BAHT TAXI

Julian, a 28-year-old tourist, is lying in the massive bed of his Airbnb, wrapped in the white sheets. The morning sun is shining through the curtains.

He is staring dreamily at Fai, who is sitting at the vanity mirror, meticulously applying her red MAC lipstick.

Julian is in heaven. Last night was absolute magic. He didn't meet Fai in some dirty Go-Go bar; they met on the dancefloor of a normal club on Walking Street. She didn’t ask him to buy her overpriced lady drinks. She laughed at all his jokes. They spent hours talking about her family in the village and his dreams of traveling the world. It felt so organic. So real.

As he watches her brush out her hair, Julian is already mentally calculating the logistics. Should we go to Koh Larn today? Maybe the Sanctuary of Truth? How complicated is it to get a Schengen visa for a Thai citizen? He is convinced he has found a diamond in the rough. A true, genuine connection in the city of sin.

Fai smacks her lips together, clicks her makeup compact shut, and stands up. She checks her phone and turns to him.

"Okay, baby. I go now," she says casually.

Julian smiles warmly and props himself up on his elbows. "Wait, don't leave yet. Let's go get some breakfast. I know a great little cafe by the beach."

Fai looks at him with the mild, annoyed patience of a mother whose toddler just asked for ice cream at 7:00 AM.

"Cannot. I very tired. Need to sleep," she says. She swings her small Gucci bag over her shoulder and holds out her hand, palm up. "You give me 2,000 baht for taxi."

Record scratch.

Julian freezes. His romantic smile slowly slides off his face.
"Two... two thousand?" he stammers. "Where exactly do you live? I can order you a Bolt right now, it’s only like 80 baht."

Fai stops. She slowly lowers her purse.

All the magic, all the giggles, and all the "soulmate" energy from the night before instantly evaporate from the room. Her expression shifts from a sweet, loving girlfriend to the cold, dead stare of a corporate accountant looking at an overdue invoice.

"You no understand," Fai sighs, looking at him like he is the stupidest man on earth. "Taxi is 150. But for me... you give 2,000 tips. It is normal."

Julian sits there in absolute silence. The gears in his head are grinding, desperately trying to process the data. He wasn't a Romeo. He was just a customer on a deferred payment plan.

The "soulmate connection" wasn't a spark of destiny. It was just a free trial period that had officially expired at 9:00 AM, and now it was time to upgrade to the standard premium package.

"Oh," Julian whispers, the crushing weight of Pattaya reality finally breaking his spirit. "Right."

He silently gets out of bed, walks over to his jeans on the floor, pulls out two crisp notes, and hands them over.

Fai instantly smiles her radiant, million-baht smile again. She tucks the money into her bag, leans in, and kisses him on the cheek.
"Thank you, na ka! You are good man. See you tonight?"

She walks out, the door clicks shut, and Julian is left alone in the deafening, awkward silence of the morning after.

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[Northstar @NorthstarCharts]

Gold (& silver) miners versus the stock market - still backtesting their breakouts. A larger & more sustained outperformance will come if the backtest holds in the weeks and months ahead👇

[SushiCat @chen01c]

@MakeGoldGreat No one seems to care at the moment

[Bai, Xiaojun @oriental_ghost]

July 21, 2026, the PM markets data in China.

[Lukas Ekwueme @ekwufinance]

Gold miners relative to gold are at historic lows.

To reach the previous cycle peak, gold miners would have to outperform the metal by ~4:1.

Meanwhile, gold miners are one of the most ignored yet most profitable sectors in the S&P.

They've spent more than a decade building a massive consolidation.

Breakouts from long consolidations can be very explosive.

As time progresses, I expect miners to vastly outperform gold.

[Northstar @NorthstarCharts]

Gold miners may be about to enter a glorious new era where they outperform gold, but, objectively, there's no sign of that yet, despite the recent surge.