jester

The real max pain is at infinity 🌎🧑🏻‍🚀🔫👩🏻‍🚀 #gme #bbby #chwy #grov

[Elon Musk @elonmusk]

@xenocosmography TITS

[Patrick Byrne @PatrickByrne]

The "Madoff Exception" let market-makers fail to deliver on trades.

After going to prison, Madoff gave an interview where he said words to this effect: "Underneath it all, it was all just naked short-selling."

I had economists walking the SEC & FBI through this since 2005.

[Jane Neumayer @janeumayet]

Ryan Cohen’s master plan for GameStop has no historical precedent.
You’re watching history in the making. Are you paying attention? $GME

[Shay Boloor @StockSavvyShay]

OpenAI’s new AI agent Dot failed to respond during its first live demo prompting the presenter to say “I guess Dot’s having a slow morning.”

I just added to my $META position.

[Salvatore Linteum @PhantomBlack699]

🚨 GAMESTOP 13D JUST FILED

RYAN COHEN BOUGHT MORE $GME

New purchases (September 29, 2026)
Open-market buys:
446,500 shares at $23.4753
3,500 shares at $23.4499
That is 450,000 additional shares, about $10.6 million.

https://t.co/xYU7q7lpYc

[墓碑科技 @mubeitech]

伊朗总统佩泽希齐扬：我们在中��的钱全被冻结了。

把自家地底下的石油一船一船运过去，
结果结账的钱全被死死扣在对方银行里，一分都提不出来。
更戏剧的是，把这件憋屈事捅给全世界的，
并不是什么西方情报机构，是伊朗总统本人。

在联合国大会期间，
伊朗总统佩泽希齐扬接受了福克斯新闻主播布��特·拜尔的专访。
当时拜尔正在追问伊朗给中东各路武装组织发军饷的事，
佩泽希齐扬急着自证清白，直接在全美直播的镜头前倒起了苦水：
我们在中国的钱全被冻结了。
我们甚至没法从一个我们供货的国家把钱拿出来，
更别说拿这笔钱去付给世界上其他角落的人了。

这话一出来，场面可以说尴尬到了极点。
过去几年里，很多宣传都在讲伊朗跟中国本币结算、绕开美元制裁、建立了牢不可破的金融同盟。
怎么真到了算账的时候，
堂堂一国总统，竟然要跑到美国保守派电视台上，
找美国人抱怨自己的战略伙伴扣着钱不给？

这笔钱到底卡在哪了？
很多人第一反应是，是不是中方故意耍赖？
事情远比表面上的恩怨要冷酷得多。
这里面运转着一套环环相扣的单向清算死结。

先看这笔石油是怎么卖出去的。
在严厉的国际制裁下，伊朗每天生产的大部分原油进不了正规国际市场。
超过 90% 的原油，最后都流向了中国山东的那些独立地炼厂，也就是俗称的“茶壶炼厂”。
为了躲避追踪，运油船队得在马六甲海峡关闭应答器，把货在公海上倒腾好几次，
而且每桶油还得打上 5 到 10 美元的骨折折扣。
实打实的工业血液运到了，
那买家给的钱去哪了呢？

钱确实付了，但付的是人民币，
而且直接打进了中国境内的指定账户里，比如专门处理对伊贸易的昆仑银行。
到这一步，账面上看起来皆大欢喜：
你卖了油，我付了钱，大家还绕开了美元。
可当伊朗想把这笔钱调出来用的时候，
真正的麻烦才刚刚开始。

伊朗能把这批人民币换成美元或欧元汇走吗？
做梦。
中国的大型商业银行在全世界有上万亿美元的资产和业务，
谁敢为了伊朗的一笔汇款，去冒被美国财政部外国资产控制办公室次级制裁的风险？
就连当年专门为了这门生意设立的昆仑银行，
在 2012 年被美国财政部重罚切断美元通道之后，
也早就收紧了风控，坚决不碰任何可能踩红线的跨境结算。

那换不成美元，伊朗把人民币直接汇给德国买工业设备、或者汇给巴西买粮食总行了吧？
还是不行。
因为伊朗身上还套着第二道死锁：国际反洗钱金融行动特别工作组（FATF）的黑名单。
伊朗国内因为坚持要给真主党输血，
死活不肯通过联合国的反恐融资公约，
结果和朝鲜一起，常年挂在金融行动特别工作组的最高风险黑名单上。
中国的所有正规银行都要遵守国际反洗钱规则，
面对黑名单上的国家，合规部门有一套法定的严格审查程序。
一笔巨额资金想从中国账户直接汇往第三方国家？
银行的合规系统当场就会自动触发拦截。

这下事情就变得极度荒诞了。
伊朗累积在中国的几百亿美元石油收入，
既不能自由换汇，也不能跨境汇出，
在物理上彻底变成了一张只能在特定商场消费的内部代金券。
你要么把这笔钱继续趴在账上贬值，
要么只能拿着这些钱，去买中国生产的汽车、家电、工程机械，
或者高价请中国的工程队去德黑兰修路。

如果伊朗急需硬通货现金去救急，还有没有别的办法？
只能走香港和迪拜的地下钱庄。
让掮客们在暗网和影子账户里层层倒手，
每一道过桥，都要被抽走 15% 到 20% 的手续费。
一桶原油辛辛苦苦挖出来，
运费加了一层，卖价打了折，
货款变成提不出来的代金券，
最后真想换成活钱，还得被地下洗钱网络再切走两成肉。

当年德黑兰兴高采烈地宣布去美元化，
以为跳出美元体系，就能奔向自由的金融天地。
结果他们一头扎进去才发现，
世界上的规则从来没有变过。
离开了一套有法治、能自由兑换的开放货币体系，
他们换来的根本不是独立自主。
那是一座把实物财富抽走、只留下一串无法提现的数字的单向黑洞。

[Ftw @ftwbiz]

I cannot understate how important this news is.

For the 1st time, ICE, the owner of the NYSE has given a sneak peek on how the 81 trillion equities market will transition onto the tokenized layer.

They aforemention a design, which is the machine to conduct on-chain finance. They will use their own, the pillar matching engine, with a blockchain post trade system (remember this part). The pillar matching is what made them a juggernaut today.

They then state other parts of this structure, that will compliment the whole machine.

First they mention securitize and their role.

A) support digital issuance
B) transfer agent function

This is esstionally the role of a bookkeeper. And the market is pricing them today at a $2.5B valuation as the defacto bookkeeper of the newfi world.

Second they mention tZero, and their role.

A) Ownership records
B) Transfer processing
C) Broker-dealer
D) Post-trade infrastructure
(I remember...)

This is esstionally the role of a plumber. And the true value is currently unknown at this time because it's not marked.

Now here is where things get good.

Public markets will price infrastructure "plumbers" at substantial premiums compared to record-keeping "bookkeepers."

Just by evaluating the plumbing layer of tokenization against a $2.5B bookkeeping baseline places the plumber at $7.5B to $25B+ 🫪

In my modest opinion, the definition of gravity is about to be redefined.

[Roaring Sensei @RoaringSensei]

This is too funny. LFG @GameStop Rangers! 🖤💛❤️💚💙🩷

[Salvatore Linteum @PhantomBlack699]

Ryan Cohen added another ~1.15 million GME shares today at just under $23, lifting his beneficial stake to about 44.2 million shares / 8.7%.

[SultanAlmaadeed.com @Almaadeed]

Everyone talks about saving money. But saving is only one part of wealth.

There are 4 skills of money:

Making money.
Saving money.
Growing money.
Spending money meaningfully.

The last one is underrated.

Money should buy more than things. It should buy time, freedom, experiences, health, generosity and peace of mind.

The goal isn’t to die with the most money.

It’s to use money well while you’re alive.

[DirtΞvader @dirtevader]

Attorney Hunter should be dismissed, with prejudice. This might be the weakest attempt at an argument that has ever been made.

This statement is a fantasy.

"At that point, the Cohen Defendants could calculate the approximate reduction in the share count just by looking at the stock’s trading range over the announced term of the buybacks"

And if Mark Twitton would have given RC that information, which he didn't, that would be Material Non-Public Information.
https://t.co/VDADqooXky

[Wendy’s @Wendys]

Big congrats to ryan on that.

[GameStop @gamestop]

Your local GameStop is back.

Select closed stores are now reopening nationwide starting September 11.

[Dillon Loomis @DillonLoomis]

This story is fascinating and is easily one of the most important things happening at the intersection of AI and politics right now. It's critical everyone understands the situation because this is just the beginning of the AI infowars and psyops

Jacob Coxon, a relatively unknown AI researcher, gives the WSJ an exclusive story about his resignation from Anthropic and his concerns about AI

Twenty minutes after the WSJ story drops, Jacob posts on X about how he's concerned that AI could kill us all in a few years. This post now has over 149M views. For reference, Ilya Sutskever (a very well known AI name) left OpenAI in 2024 and his announcement post has fewer than 6M views as of today

Bear in mind, Jacob Coxon's X account had no prior posting activity public, but it is immediately reposted and boosted by numerous AI-doomer policy advocacy nonprofits funded by the same donor (Jaan Tallinn) who just happens to be one of the leading investors in Anthropic

We find out Jacob Coxon, who worked at Anthropic for only a few weeks, worked for a left-wing political advocacy group in 2021 (Newspeak). This organization is a British NGO with ties to hacking democracy, Hillary Clinton, prison abolition and extinction rebellion

Many major Democrat politicians are now using Jacob's X post to fear monger the public into voting to regulate AI. It just so happens Bernie Sanders has a bill already written to ban artificial superintelligence (ASI) and to create a new federal agency to protect the public from the dangers of AI. This bill was announced just one week ago on September 3rd

It would also place a temporary pause on "advanced AI" until a new federal regulator exists and has issued safety rules and a model-review process

Elon then points out how none of this feels organic, and Jacob decides to take a shot at him for firing some xAI researchers

Meanwhile, we know Anthropic has publicly asked the government to audit and block frontier models and Anthropic has run a state-by-state campaign for rules that only large AI labs trigger, meaning the rules are structured around barriers only frontier labs can easily clear (limiting competition)

There is extensive Anthropic personnel and financial overlap with the groups that wrote the Biden-era AI policies. It is well known information you can seek out if you want the detail

This all seemingly comes back to regulatory capture and political motives. None of this feels natural. Jacob can say these are his real views all he wants, and they may be, but there is clearly far more to the story

[Kaelan Dorr @Kaelan47]

POWER TO THE PLAYERS

[jester @jesterlamh]

@Ersin0X He identifies as Chinese

[jake2b @jake2b]

tl;dr: it is the only way a guarantor makes sense to me.

I’m glad that you asked and I had never considered it until July 20 when a guarantor showed up on the bond listings. I had always been of the belief that the bondholder recovery would be cash-based because that was how it was outlined in the Plan. it was also my opinion (emphasis, opinion!) that if you were the acquirer you would not be inclined to give the bondholders equity of the NewCo because of how unsupportive and adversarial they were in voting against the Plan. in hindsight, maybe the two happened in the opposite order and the decision was made before the votes were seen, but who knows.

the guarantor made me reconsider a lot of my prior thinking because:
• if their recovery was only cash there would be no guarantor because waterfall provisions in the Plan would be the source of their payout;
• if the recovery was to be equity, there is no need for a guarantor either because equity is never financially backstopped with any guarantees; it is full downside risk for unlimited upside potential. what even would be guaranteed in an equity scenario?

so in trying to find where this new piece of information belongs in the puzzle I started by asking how would a guarantor enter the picture? well as it turns out a guarantor in the context of bonds is a very specific thing:

“a guarantor is a third party—such as a parent company, financial institution, or government body—that legally promises to pay the bond's interest and principal if the primary issuer fails to pay.” that is from investopedia.

that made me realize that there could be a debt-to-debt conversion because it is the only outcome that logically follows that definition. conveniently at the same time they were renamed from BBBY to DKBFLY (not -1!) which is a really important distinction, the indentures now have fiscal 2026 added to them (why?) and the best question of all, why now? unless there is a purpose behind it (I think dismissing the guarantor as a mistake or error is lazy).

$BBBYQ

[Salvatore Linteum @PhantomBlack699]

This was always one of the main indicators Ryan Cohen gained control over something stronger than equity in the former BBBY estate

Ryan rushed to sell the shares within days and JPMorgan leaked the news to their friends so they could rally the stock on WSB and make money shorting the next day. Gustavo Arnal was panicking that JPMorgan liaised with Ryan for the sale. JPMorgan's Global M&A Chief was actively trying to prevent Ryan taking control of the company. Gustavo gave the keys to the castle to Sixth Street then un-alived himself a few days later.

Meanwhile within the same week or so of Ryan selling his shares (despite Sue Gove and Ben Rosenzweig believing he was about to increase his position) three pivotal teams entered the former Bed Bath & Beyond, Lazard, Kirkland & Ellis and Sixth Street. Do you see why he rushed to sell? He made the deal for senior debt and control to hold the board accountable, just as he said he would in the letter to the board.

To go from filing the Teddy Trademarks, replying positively to a CNBC article, months of due diligence and building a substantial position in a company to just simply sell, watch them fall into a death spiral, offer $400M~ 4 months after selling the position and then observe the total demise of the company in Chapter 11 without ever referencing it again has always been a bizarre chain of events that contradicts Ryan's long term focus and planning

Here we are nearly three years after de-listing, waiting for some form of emergence, re-issuance, subscription rights, warrants, a rights offering or however this plays out.

All I will say, is that some things wouldn't have happened, if we were wrong. Read between the lines.

I'm brain dumping random events that aren't as random once you see them all together, like pieces of a puzzle.

Unwavering Fucking Conviction, say it back.

[​𝐥𝐲𝐫𝐚 @sunnkssdseraph]

I finally understand what Machiavelli meant when he said, "Never play fair in a game where others cheat." It doesn't mean become evil. It means stop being naive. Stop bringing honesty to people who study manipulation, stop giving access to people who weaponize closeness, and stop expecting clean hands from people who already showed you they'll throw dirt. Sometimes wisdom is not revenge. Sometimes wisdom is learning the rules of the room before the room uses your goodness against you.