⚡️Schiff is defending a dead monetary map.
His entire argument depends on treating Bitcoin as an isolated object and asking whether it has value in a vacuum.
That is the wrong frame.
Monetary assets do not become important because they produce cash flow.
They become important because the surrounding system creates a need for coordination, collateral, settlement, escape, and trust-minimized ownership.
Gold did not win because it produced yield.
The dollar did not win because paper had intrinsic value.
Treasuries did not win because debt is sacred.
They won because a system formed around them.
Bitcoin is now forming a system around itself.
ETF rails. Custody rails. Brokerage access. Stablecoins. Tokenization. Treasury enforcement. CLARITY. Strategic reserve language. Corporate balance sheets. Bitcoin income wrappers. MSTR credit machinery. Prediction markets. Sovereign optionality. Sanctions pressure. Capital controls. Fiscal decay.
That is the thing Schiff refuses to see.
He sees price speculation and says “no value.”
The deeper structure says Bitcoin is being pulled into the core of financial power because the old system keeps producing the exact problems Bitcoin solves.
Debt keeps rising.
Money keeps getting politicized.
Banking access keeps becoming conditional.
Sanctions keep expanding.
Trust in sovereign balance sheets keeps weakening.
Neutral collateral keeps becoming more important.
Digital financial rails keep swallowing everything.
Bitcoin sits at the intersection of all of that.
Schiff’s mistake is not skepticism. Skepticism is useful. His mistake is category failure. He keeps judging Bitcoin like a bad stock, when it is competing to become digital collateral in a world where trust itself is fragmenting.
That is why he sounds right during crashes.
Crashes expose fraud, leverage, scams, false belief, bad tokens, dumb money, and overpromised narratives. Schiff points at the wreckage and says the whole structure is fake.
But the wreckage is the purification layer.
The internet bubble did not kill the internet. It killed the garbage built on top of it before the real architecture took over.
Crypto is going through the same separation.
Garbage dies.
Leverage dies.
Retail mania dies.
Fake decentralization dies.
Bitcoin survives.
Stablecoins survive.
Tokenization survives.
Prediction markets survive.
Custody survives.
Regulated rails survive.
The U.S. does not lose by becoming the crypto capital if it captures the surviving rails. It wins the jurisdictional layer. It owns the compliance perimeter, the custody stack, the ETF market, the legal definitions, the stablecoin dollar network, the institutional distribution rails, and the tax/reporting architecture.
That is power.
Schiff thinks America is becoming the bagholder.
The deeper read: America is trying to become the operating system.
That does not mean every token matters. Most do not. It does not mean every crypto holder wins. Many will get destroyed. It does not mean the process is clean. It will be ugly, political, surveilled, manipulated, and full of fraud before the surviving structure hardens.
But Bitcoin’s role is not disappearing.
The system is surrounding it.
That is the tell.
Worthless assets get ignored.
Threatening assets get attacked.
Useful strategic assets get absorbed.
Bitcoin is being absorbed.
Schiff’s gold framework cannot process that because gold already won its social authorization centuries ago. He treats old belief as reality and new belief as fantasy. That is the blind spot.
The real future is harsher than Bitcoin utopians wanted and far more bullish than Schiff can admit.
Bitcoin will not remain a pure outside-the-system rebellion asset.
It is becoming institutional collateral inside the system.
That transition will feel like betrayal to purists and like failure to bears.
It is neither.
It is power discovering how to use the thing it could not kill.
The problem with much of the criticism of the Iran War is that it largely ignores the counterfactual and the trajectory we were actually on.
The relevant comparison is not between today and some ideal outcome. It’s between today and the world we were heading toward under the JCPOA/non-attack scenario: a nuclear-armed Iran with ICBMs capable of reaching the United States, 10,000 ballistic missiles and hundreds of thousands of drones, a vastly expanded military backed by China and Russia, hundreds of billions in sanctions relief and a regime effectively immune from military coercion.
In that scenario, there is no serious American or Israeli military option. There is no credible threat of force. Tehran permanently changes the balance of power in the Gulf and gains permanent and far greater leverage over critical maritime chokepoints, including Hormuz and Bab el-Mandeb.
Instead, Iran is weaker today than it has been in decades. Its nuclear program has been set back by years, its ballistic missile program has been severely degraded, its regional proxy network shattered, its air defenses destroyed, and its military vulnerabilities laid bare. Whether one supported military action or not, that is the strategic reality.
The Gulf states, the United States, Europe and Asia are doing extensive work to reduce the long-term strategic importance of the Strait. This crisis has been a wake-up call. We are building alternatives precisely because the world will not remain hostage by an Islamist regime to a single chokepoint.
You don’t have to agree with every aspect of the campaign. Mistakes have been made. Trump may squander the opportunity by doing a bad nuclear deal. Trump may decide not to wage the Battle for Hormuz. But you also need an answer to what should have been the alternative strategy to prevent Iran from reaching a lethal end state. The JCPOA gave patient pathways to that lethal end state by 2030. Inaction — kicking the can down the road as Washington did with a North Korea — is a fatal strategy.
What then?
@SimonRAnderson "He started believing things that I knew weren't true. At first I feared it was Alzheimers..."
"Then I realised he was watching @1NewsNZ"
😏
“A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.”
— Milton Friedman
The Denver shooter was trans
The Aberdeen shooter was trans
The Nashville shooter was trans
The Georgia shooter was trans
The Philadelphia shooter was trans
The Uvalde shooter was trans
The Colorado Shooter was trans
Trans IS mental illness.
In NZ most of our Politician’s, our entire education system, our Police, judiciary are hell bent on messing with our kids heads to convince them they are in the wrong bodies or to affirm the deranged notion you can change your sex. Don’t let your children be groomed into the twisted cult.
Russia started a war that’s killed over a million people.
Russian diplomats aren’t murdered.
China runs concentration camps.
Chinese diplomats aren’t targeted.
Iran funds terrorism across the globe.
Iranian diplomats aren’t gunned down.
Turkey bombs civilians and jails dissidents.
Turkish diplomats aren’t hunted.
Sudan is collapsing in genocide and famine.
Sudanese diplomats aren’t executed.
Pakistan harbors terrorists and persecutes minorities.
Pakistani diplomats aren’t ambushed.
Syria used chemical weapons on its own people.
Syrian diplomats aren’t shot outside museums.
North Korea starves its citizens and threatens nuclear war.
North Korean diplomats aren’t attacked.
The list is endless.
But out of all these countries, only Israel provokes such obsessive hatred that someone would throw away their entire life just to murder two innocent Israelis in their 20s.
Today is a terribly sad day.
May their memories be a blessing.
“Everyone you meet always asks if you have a career, are married, or own a house, as if life was some kind of grocery list. But no one ever asks you if you are happy”
— Heath Ledger
Honestly the fact media keeps covering this school lunch thing is just so sad.
Where’s the context. We ( Labour) DOUBLED our national debt in TWO years. 10/10 irresponsible wasteful spending.
Our interest payments now total 8.8 billion a year.
We have NO choice but to take measures to control costs and create a culture of looking after every dollar that some one ELSE has worked hard for.
The lunch’s are fine.
A major portion of the left are net negative contributors and drains on society with their constant hand out and complaining.
I fear our culture going in the wrong direction. Need to toughen up.
The original pre-European Maori language consisted of only 2000 words.
The English language is made up of around 170,000 words.
Te Reo today is largely a fake language consisting of words made up by modern day activist academics struggling to address the 168,000 word deficit.