LCJD Capital

Crypto, Markets. Securities lawyer in real life (but not yours).

[Madhatt3r ⛏️ @pokerchessman]

A fixed base (3M Ore, hard cap, frozen) is not a fixed money supply.

Study Gold.

The claims on gold inflated - banknotes, then Bretton Woods paper. Until Nixon admitted they couldn't be honored.

What does that tell you?

A hard base merely relocates the elasticity one floor up, into credit.

Ore has 3M at the base. But as it grows, there will be borrow/lend activities.

Anything lent against your Ore?

Well, those are claims, and claims breathe like a money supply.

The cap doesn't abolish that.

To be truly a hard currency, the elasticity one floor up will have to be hardened as well.

Lots of work left to do.

[Andy Constan @dampedspring]

Mervyn King is the co chair of the communication task force. The man had a way with communication. Here's a 2005 speech just as the England match kicks off

"Maradona Monetary Policy"

[Quinten | 048.eth @QuintenFrancois]

If you sell here, you deserve to stay poor

[Leyla @LeylaKuni]

PIK is POOP 🤣

[History Calendar @HistoryCalendar]

The birth years of Continental Congress members if the United States Declaration of Independence had been signed in 2026.

[Will Manidis @WillManidis]

the lack of emdashes, triple lists, and not-x-but-y's in the great work of history seems to be pretty strong evidance that time is in fact a one way arrow and there's no going back. time travel decisively ruled out.

[Fede’s intern 🥊 @fede_intern]

european football has spent the past fifteen years solving futbol like chess.

a generation of coaches optimized for pass completion, pressing triggers, territorial control, rest defense, and positional occupation.

the problem of this is that they optimize for what is measurable. depth, the willingness to attack space early, attempt the difficult pass, dribble past a defender, or deliberately create chaos, is a high variance play. it fails more often than it succeeds. if you evaluate players by completion rate, ball retention, or positional discipline, those actions look like mistakes. so they get coached out. eventually, everyone converges toward the same local optimum.

the game becomes increasingly legible. every team occupies similar spaces, presses in similar ways, builds from the back with similar patterns, and minimizes the same risks. systems become better at defeating other systems, but worse at dealing with players who refuse to behave like systems.

south american football never fully abandoned the duel as the fundamental unit of the game. the 1v1 remained sacred. so did the tactical foul, the unpredictable dribble, and the player willing to lose possession five times if the sixth breaks the match open. the objective was never simply to preserve structure, it was to create someone capable of destroying the opponent’s structure.

football is not won by completing the most passes. it is won by scoring more goals than the other team. those are related, but they are not the same objective.

this is the danger of optimizing proxies. when everyone optimizes the same measurements, they stop optimizing for victory itself. they optimize for looking efficient.

italy may have been the first major european football culture to lose part of its identity this way. its historical advantage was never athletic superiority or perfect positional play. it was tactical asymmetry, unpredictability, and an instinct for making matches uncomfortable. as italian football converged toward the same coaching model as the rest of europe, it gradually surrendered the qualities that had made it different.

the broader lesson extends well beyond football. every optimization process eventually risks becoming self-defeating. metrics become targets. proxies replace objectives. variance is mistaken for error. the outliers capable of breaking the system disappear because the system itself learns to eliminate them.

[Arthur MacWaters @ArthurMacwaters]

It’s crazy how we found a way to purify literal rocks into 99.9999999% pure silicon, then have magicians pull it into crystals, then etch a trillion little runes on it, put some electricity into it, and now it has 130 IQ

and the most common thing to do with this miracle is email

[JD™ @LostMyHats]

Mossad is certainly a formidable spy agency, which is what happens when you have a worldwide diaspora of “International Jews” who, like Jonathan Pollard, will always be more loyal to Israel than their own nation, and are imbedded in governments around the world. They created the most sophisticated spying apparatus in the world even *before* Israel became a state. As the Haganah, they were running ops since the 1920s. Nobody doubts they’re the world’s best assassins.

As much as we would love to rely on the “best intel agency in the world” who sat back and watched October 7 happen (despite other nations Intel agencies literally landing on the runway in Tel Aviv to warn them in person), there are a few facts about Mossad you should understand:

Mossad gives us the intel that benefits Israel. They’ll keep doing that for free. Because it benefits them, not us.

Mossad gives us false intel, like the Iraq WMDs, or fabricated Iranian bomb timelines, to get us to fight their battles for them. They’ll keep doing that for free, too.

Mossad pays spies to steal our intel, and sells/gives those secrets to Russia and China. Our CIA Director told a Senate Government Affairs Committee that Israel had been selling U.S. secrets to China for about a decade. They’ll also keep doing that for free.

Meanwhile, thanks to ongoing MOUs, we give Israel technology created by publicly funded R&D from DARPA and In-Q-Tel. Israel takes that technology and gives it to their Unit 8200 (their version of the NSA), whose “cyber-commandos” then (allegedly) retire and go private sector, selling that technology back to Americans via venture capital Silicon Valley start-ups, making billions on technology developed by the U.S. taxpayer. Both the profits and the info fished from American tech consumers (for example, all the info on your Waze App) goes back to Israeli intelligence, who are compiling a treasure trove of our private data for an extensive spy campaign on the American people.

Further, the tech-sharing goes one way. Israel’s “Iron Dome?” That’s ours. Israel’s
“David’s Sling?” That’s ours. Israel’s “Arrow” (long range ballistic missiles)? Ours. Jericho Missiles? Ours. All ours.

F-35s, F15IAs, AH-64 Apache, Hellfire missiles, JDAM kits, AIM-120 AMRAAM, GBU-28 bunker busters, M1 Abrams tanks, V-22 Osprey. All ours.

Israel created a helmet display for us. Golf clap for Israel.

They’re also selling that tech to our enemies. Israel gave China our missile and electro-optics technology. Israel tried to sell China Python III air-to-air missiles taken from the U.S. Sidewinder. Israel sold China our Harppy Radar System. Israel gave Russia Pollard’s stolen info on our nuclear targeting. Israeli gave South Africa our nuclear secrets. Robert Maxwell, Israeli spy and Epstein mentor sold our PROMIS software to our enemies around the world. Israel sold our Pegasus spy software to Saudi Arabia, UAE, Mexico, Hungary, and others to surveil journalists and “dissidents.”

Oh, and their genocidal “Daddy’s Home” and “Gospel” AI targeting software that picks proximity to wife and kids to maximize civilian kill counts in Gaza is done in partnership with American tech companies like Microsoft, Google, and Open AI. It’s not stolen tech (they only steal from the U.S. government ) but we should really consider sanctions to keep all U.S. tech from bloody Israeli hands.

An official break-up is past due. Unfortunately, AIPAC assets in Congress just pushed Section 224 of the U.S.-Israel Defense Technology Cooperation Initiative in the FY2027 NDAA, which will forever merge U.S. and Israeli defense industries so it can’t be stopped in the public budget process. It’s passed out of the House Armed Services Committee but not yet enacted into law.

Huckabee loves it, btw.

[Lawrence Lepard, "fix the money, fix the world" @LawrenceLepard]

“We have a task force for that”

The man is a cipher. New strategy. Tell them nothing.

[Lawrence Lepard, "fix the money, fix the world" @LawrenceLepard]

In one hour and forty five minutes our Monetary Bartender gives an update on drink prices, limits, closing time, blood alcohol warnings, etc.

What a ridiculous state of affairs that the most important price in capitalism, the price of capital itself, which is necessary to allocate capital intelligently, is set by one man and his committee. We claim free market capitalism and then price fix the price of money. 🤦‍♂️

[tradfi news @tradfi]

*SPACEX: DOES NOT INTEND TO RELEASE QUARTERLY OR ANNUAL FINANCIAL RESULTS OR OTHER MATERIAL NEWS THROUGH WIRE DISTRIBUTION SERVICES

*SPACEX: WILL ANNOUNCE MATERIAL INFORMATION TO PUBLIC PRIMARILY THROUGH INVESTOR RELATIONS PAGE ON ITS AND ITS X ACCOUNT - SEC FILING

$SPCX

[Lawrence Lepard, "fix the money, fix the world" @LawrenceLepard]

A reminder. The blue line is where the income is generated to service the red line. Stein's Law comes to mind.

[Eric Weinstein @ericweinstein]

We hear it as consumption. But it's almost all for allocation. This is a huge issue we need to get past.

Name anyone you would rather see allocate 1T+.

Well done.

[‏ً @omgsidewalks]

Honestly, i don't understand this economy when nursing homes are so expensive they bankrupt our grandparents but nursing home aides need to use food banks.

daycare is so expensive it eats up one parent's entire paycheck and yet daycare providers only make $10/hr and need second jobs.

college costs hundreds of thousands of dollars and puts students into debt for life and yet we have thousands of professors living in their cars.

everything we need is astronomically expensive and yet almost none of the money we pay is going towards the people actually doing the work and providing the services.

[LCJD Capital @sol_lawyer]

@beaniemaxi Any reason why a Nine Person (?) Platinum sng would entirely finish while blinds are still 10/20 and 5 minutes after $FP randomly 🤓 happens to sky rocket 20x

[OddStats @OddStats]

For only the SECOND TIME
▪ In the history of the S&P 500
▪ We set new all time high closes
▪ 6 days in a row
▪ And then closed at least -4.5% lower 6 days after that

The other time was Sept 2020.

[WSOP - World Series of Poker @WSOP]

A new era hits the WSOP felt.
June 10th.

[AZKicks @RealAZKicks]

I got super lucky as a VC in Solana’s early rounds and then went degenerately into every shit scam that SBF told me he was going to pump

We were up gorillions and every billionaire in the world was calling me and SBF every day to try and get into the ecosystem cabal

Then SBF went to jail and I eventually crashed out as most of our LPs tried to exit via secondaries in the fund at a huge discount just to avoid getting zeroed

After that I nailed the perps thesis intellectually but proved I suck at asset selection by backing Drift, which got continually exploited and rugged, after also backing Alon at TGE and getting rugged

Then I started a DAT and we absolutely bazookad our whole treasury into SOL at the picotop, it hasn’t gone up once since we deployed

Then I got kicked out of my fund and they started buying Hype in my absence and are already up more than I am cumulatively on all my deals from this current cycle

Oh wait, that is wasn’t me, his name was Kyle Salami

[Solana @solana]

Big week ♠️♥️♣️♦️