Scott DeSano

MAGA supporter 100%

[Scott DeSano @scott_desano]

SpaceX hit $228. Nothing against Elon or the company, but that’s just ridiculous. There is no fear on this market. That’s when it gets interesting.

[Scott DeSano @scott_desano]

@NoLimitGains It’s a rigged casino. Why wouldn’t they buy? It won’t stop until the market intervention ends…..and that might not be until after the midterms. Dangerous stuff.

[Scott DeSano @scott_desano]

@EricLDaugh I say this as a full Trump supporter. He is rigging the market and has been for months. It is plain to see. I ran a trading desk for 30 years. It will end badly for the retail investor……and that’s just not right

[Scott DeSano @scott_desano]

@MrWhiplash_ I voted for him, but he’s done nothing on this topic that he said he would. Disappointed to say the least.

[Derrick Evans @DerrickEvans4WV]

I’ve finally accepted the reality that we were lied to.

There haven’t been any major arrests and there most likely won’t be any major arrests.

[Natalie F Danelishen @Chesschick01]

Bernie Sanders and AOC haven't created a single millionaire.

Elon just created 4,400 millionaires.

Socialism vs. Capitalism

[Your Golf Travel @yourgolftravel]

An incredible image of the Old Course at St Andrews shortly after a hailstorm on June 10 😲

📸 via: BBC Weather on Instagram

[CashMeIfUcan @jeff36779606]

LIV GOLF Haters. Tiger Woods cheats on wife with hundreds of skanks, declares sex addiction goes to rehab. Pops pills wrecks car #1 declares drug addict goes to rehab. Pops pills wrecks car #2 declares drug addict goes to rehab. PGA Tour Hero. PHIL MICKLESON BAD.

[Scott DeSano @scott_desano]

Incredibly, the SpaceX IPO suddenly fixed our 10% real inflation, the 10% drop in housing prices nationwide, the coming $6-7 gas prices, the employment situation and the broke consumer! It’s a Miracle!

[Scott DeSano @scott_desano]

@hola_eva77 Stunning. Take to dinner.

[The Kobeissi Letter @KobeissiLetter]

Inflation in the US is now up to levels that were last seen after $4 trillion in pandemic stimulus was handed out for "free."

The worst part?

Most Americans have no idea that it is happening.

[Scott DeSano @scott_desano]

@jam_croissant Restaurants are choking……consumers are broke.

[David Stockman @DA_Stockman]

The AI Bubble---Enron Redux or the Mother Of All Financial Circle Jerks.

by George Noble
The Noble Update
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.

[Scott DeSano @scott_desano]

Whenever, if ever, Treasury Sec Bessent stops buying oil futures and S and P futures….how does he got out? Or does he just leave the mess for someone else to deal with? Billions and billions. SMH.

[Scott DeSano @scott_desano]

This is spot on.

[Uncle Milty’s Ghost @his_eminence_j]

Folks, we are in a recession. that’s my conviction as an economist and I don’t care whether you agree or disagree. This is decades’ worth of experience and research and knowledge telling you that the narrative you’re being sold is a lie.

Job losses do not start before recessions. You lose most of the jobs in the first third of recessions already underway. Typically, hiring remains robust right up until the moment (and a few months past) a recession starts.

Then the job bleed begins.

It is a fallacy to think that you would see job losses before a recession starts. That is not the way this works.

If you’re waiting to see job losses before you realize where we are, you’re too late because we’re already in the first third to half of a recession underway.

We’re in a recession. It’s going to be made worse by inflationary pressure due to tariffs last year and oil prices this year.

If you think that the stock market can remain at all-time highs through it… 😬

[Scott DeSano @scott_desano]

@leadlagreport Unquestionably

[Scott DeSano @scott_desano]

@BullTheoryio Just a question. How does the Iran circumstance cause a trillion in market value, up or down, instantaneously? Mr Buffett calling it a casino seems rather apt.

[Scott DeSano @scott_desano]

@KobeissiLetter There is no such thing as free elections or free markets. They’ve rigged them all.

[Scott DeSano @scott_desano]

@arthurbrooks Very accurate