Ode-an-die-Freude

European Identity: Archimedes DaVinci Michelangelo Einstein Platon Kant Montesquieu Homer Shakespeare Goethe Dante Dumas Beethoven Rembrandt Picasso to start...

[Ode-an-die-Freude @die_ode]

@Chartfest1 not 200 points but 2%!

[Ode-an-die-Freude @die_ode]

@Chartfest1 🤣

[George Noble @gnoble79]

NVIDIA IS BUYING ITS OWN CHIPS AND CALLING IT REVENUE

And your retirement account is secretly holding the bag.

This scheme is literally straight out of the Enron playbook...

In January 2026, a special purpose vehicle called Valor Compute Infrastructure was created with one purpose:

Buy Nvidia's chips so Nvidia could book the sale as revenue.

Valor raised $5.4 billion and purchased over 100,000 of Nvidia's GB200 GPUs.

But $1.9 billion of that money came FROM Nvidia itself.

Nvidia invested $1.9 billion into the shell company, then sold that same shell company $5.4 billion worth of its own chips and booked every dollar as revenue.

It's the Girl Scout whose dad bought all the cookies and then she wins the sales contest because Dad was the customer. Except this Girl Scout is a trillion-dollar company and the cookie sale is $5.4 billion.

But it gets MUCH worse:

The remaining $3.5 billion in financing came from Apollo Global Management. Apollo structured the debt, packaged it into securities, and then sold those securities to Athene.

And guess who Athene is? Apollo's OWN insurance subsidiary. The one that sells fixed annuities to American retirees as safe, conservative retirement products.

Follow the chain:

Nvidia funds a shell company with $1.9 billion. The shell company buys $5.4 billion in Nvidia chips. Apollo finances the remaining $3.5 billion. Apollo sells the debt to its own insurance arm. That insurance arm packages it into annuity products and sells them to retirees who think they're buying something safe.

The retirees have no idea that their retirement savings are now backed by 100,000 computer chips sitting in some data center that will be worth pennies on the dollar in three years.

Now look at what's happening inside Athene:

$74.2 billion in US reserves but $217 billion in assets have been shifted to a Bermuda-based captive insurer, outside normal US regulatory oversight.

$103 billion of that portfolio (roughly 35%) is classified as Level 3 assets. That means there is no observable market price.

These assets are valued by internal models, not by actual markets.

And sitting on top of all those unpriced assets? 16.6x leverage.

If you're getting flashbacks to 2008, you should be.

Back then it was mortgages bundled into securities that nobody understood, sold to investors who had no idea what they were holding, rated as safe by agencies that never looked under the hood.

Today it's GPU-backed securities. Computer chips bundled into structured credit instruments, routed through an offshore insurance subsidiary, and sold to you as a retirement product.

The collateral is 100,000 GPUs leased to a single customer through an xAI subsidiary. If xAI stops making lease payments for any reason - financial distress, a pivot in strategy, anything - the entire structure unravels.

And Nvidia releases new architectures every year, so each generation delivers dramatically more compute per watt. A 5 year lease on technology that's obsolete in 2 years creates a mismatch that should terrify every annuity holder in America.

Every single step in this chain is technically legal. The SPV is legal, the lease is legal, Nvidia's equity stake is legal, the securitization is legal, and the Bermuda transfer is legal.

But legality and legitimacy are not the same thing.

I've seen every trick Wall Street has ever pulled in my 45 years of doing this.

And what I'm looking at right now is a pipeline that takes AI infrastructure risk, launders it through 8 layers of financial engineering, and deposits it in the retirement accounts of Americans who never agreed to fund Elon Musk's data centers.

In 2008 it was mortgage-backed securities.

In 2026 it's GPU-backed securities.

Different asset. Same greed. With the same ending.

[Ode-an-die-Freude @die_ode]

@GaryKaltbaum InBerlin, and Brussels, the future security architecture is being rethought, as the United States—hitherto the protecting power—is no longer capable of fulfilling this role following its defeat in the Gulf, and disparages allies such as Zelensky, Netanyahu, or Prince Salman.

[Thierry from arvy 🇨🇭 @ThierryBorgeat]

The price to rent an Nvidia H200 just collapsed from $7/hr to $4/hr in three weeks.

A -40% drop in the cost of the single most strategic asset in tech.

When the underlying commodity that powers your entire thesis loses 40% of its value in a month, that usually means one of two things: supply finally caught up, or demand was never as deep as the headlines said.

Either way, somebody is selling.

So why is the AI trade still pricing in scarcity?

[EuroMaximalist 🇪🇺 @euromaximal]

The idea that individual European countries can matter in the modern world without the EU is ridiculous.

The EU is the only thing saving European countries from irrelevance and vassalage to Russia, China or the US. This is a fact.

The EU needs reform. Not to disappear.

[Ode-an-die-Freude @die_ode]

@GaryKaltbaum The American soldiers died for nothing, and the mullahs are becoming the regional hegemon in the Gulf. (Will Israel go along with this?)

[Ode-an-die-Freude @die_ode]

@ProfessorPape The EU does not need an ally who espouses Putin's views, threatens Greenland, mulls in social media to wipe out entire civilizations, calls us useless cowards, and treats us like vassals! The EU must become a sovereign, capable actor.

[Ode-an-die-Freude @die_ode]

@Microinteracti1 @SecRubio @SecGenNATO Do we really want an ally who espouses Putin's views, threatens Greenland, mulls in social media to wipe out entire civilizations, calls us useless cowards, and treats us like vassals?

[Gandalv @Microinteracti1]

Marco, mate. Europe and Canada aren’t spending trillions over the next decade because you asked nicely. They’re spending it so they can hand you your coat, point at the door, and build something that doesn’t depend on whether Washington is having a good Tuesday. That’s not burden-sharing. That’s a divorce settlement.

[Clash Report @clashreport]

As Trump relied more on loyal envoys than career diplomats, experienced Iran nuclear experts were pushed out of government.

During talks with Tehran in Geneva, European officials were stunned to find themselves explaining basic uranium-enrichment concepts to the American team.

One diplomat questioned how the U.S. could negotiate a nuclear deal without fully understanding the science behind it.

Source: Reuters

[Benjamin Haddad @benjaminhaddad]

Stop the doom and gloom about Europe.

The fact is: there are many more candidates to become the 28th member of the European Union than the 51st state of the United States.

Yes we need to reform and transform our union. Make it more competitive, simpler, more powerful.

But when you have countries going through extended reforms to join, when the UK 10 years after Brexit is debating to rejoin, it says something about the inspiration that Europe represents.

[Ode-an-die-Freude @die_ode]

@GaryKaltbaum If one day the grandchildren hold their grandparents accountable for their role in difficult times, this guy will have no easy explanations...

[Ode-an-die-Freude @die_ode]

@anneapplebaum @TheAtlantic The spin doctors will break their teeth on this crushing defeat.

[Frid 🇪🇺🦌 @Frid45]

“ Make us sovereign, and the only way to do it is together. From Portugal to Ukraine,

Let’s create the United States of Europe!“

The choice for Europeans is simple: federate or perish. And I am convinced Europeans will choose to unite Europe.

🇪🇺🇪🇺

[Robert A. Pape @ProfessorPape]

Iran’s newly created Persian Gulf Strait Authority released a map

Fujairah port, critical to UAE pipeline bypassing Hormuz, in the key zone

Iran now controls 15% world’s oil and this will add 2% more

Iran is seeking power, not a deal to return to prewar status quo

[Elisa Mosini 🇪🇺🇮🇹 @MosiniElisa]

The European Parliament has given the green light to Canada’s participation in SAFE, the EU instrument for coordinated defence procurement and financing in the field of defence.

Alignment between Canada and Europe continue to grow in matters of security cooperation.

Very good.

[Elisa Mosini 🇪🇺🇮🇹 @MosiniElisa]

Thank you to all my followers, new and long-time, for helping me reach a new small milestone of 12.5k.

I’m proud of this small community that believes in European unity and solidarity, and thank you for choosing to support me with a follow.

For a united Europe 🇪🇺

[Mario Nawfal @MarioNawfal]

🇨🇳 China just switched on the world's largest offshore solar farm

2.3 million solar panels. 2,934 steel platforms. 11,736 piles driven into the ocean floor. Built to survive force-11 gales and sea ice.

It sits 5 miles off the coast and powers 2.67 million people.

Oh, and they're also farming fish underneath it 😳

[Ode-an-die-Freude @die_ode]

@Chartfest1 The low number of votes could be a sign of weak conviction, as well as disapproval of—and lack of understanding regarding—the recent chart performance. A separate chart tracking the number of participants could prove insightful.