Matt Spurlock

Music person and what not. Turn the page on the day, walk away. 'cos there's sense in what I say.

[Democrats @TheDemocrats]

Of the 97, 14 were charged with sex crimes, including child molestation and possession of child pornography.

These are the monsters Trump released back onto our streets.

[Glenn Thrush @GlennThrush]

This is really, actually, no-kidding the disclaimer Hannity ran after his interview with Todd Blanche

[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.

[The Chemical Brothers @ChemBros]

Step inside The Chemical Brothers' live show experience with the visuals for 'Go' (by @smithandlyall): https://t.co/5pBcluu4UH

Vocals by @QtipTheAbstract

#thechemicalbrothers #apex #qtip #go

[Miles Taylor @MilesTaylorUSA]

Yesterday Donald Trump tripled the size of his personal political army inside the government. Illegally. And almost no one noticed.

Here's what happened:

He signed an order converting ~8,000 of the most senior career officials in government into employees he can fire for any reason, or no reason at all.

These aren't rando's. They're the directors, chiefs of staff, and the people who write the rules or decide who gets federal money, i.e. the lieutenants right below his political appointees.

Until yesterday, they answered to the law. Now they answer to him.

A president normally gets ~4,000 political appointees. People he can bring into government and fire at will. I was one of them at DHS. You serve at his pleasure, full stop -- so if you're gonna speak truth to power, you're prepared to quit (or get fired if he doesn't like it).

The rest of the federal government is PROTECTED from firing if they tell the truth.

But Trump just stripped those protections. Adding 8,000 more people to his personal army. Overnight. Without asking Congress.

With the stroke of a pen, those people now serve at the pleasure of the president. They're "his" people, whether they like it or not.

And the chilling effect is real. An official who can be fired this afternoon for "subversion of presidential directives" (the order's own words) doesn't need to be hand-picked to know what's expected of him or her.

The threat does all the work.

By the way, this order is illegal. The law only lets Trump reclassify jobs when "necessary" in exceptional circumstances. And this blows an 8,000-person hole in the merit hiring / firing system created by Congress.

Without permission, Trump has created a whole new category of stormtroopers inside the Executive Branch.

If this doesn't get challenged in court, you're going to see the U.S. government become a very different place.

Here's the full story: https://t.co/mJzrvzhxGR

[Anonymous @YourAnonNews]

Dude hates the left because his daughter did something he didn't agree with. Imagine being that kind of father, one who isn't supportive, one who wants to make the child a copy of yourself rather than their own person. Fuck Elon Musk.
https://t.co/72YMYpVkOI

[么 ꜱ ᴀ ᴍ ꪜ, @___TheGOOdWitch]

This is amazing to watch

[Rep. Mike Levin @RepMikeLevin]

There is no world in which this is okay.  

Supreme Court Justice Samuel Alito did not recuse himself from cases involving Trump’s Treasury Department while his own son was secretly working there as a political appointee and attorney. 

His son's employment was hidden so thoroughly that his name appears nowhere on the Treasury Department website, he has no public resume, and his bar listings are outdated. 

If Alito had recused himself, the secret would have come out. He didn’t recuse himself. 

This is a clear conflict of interest, and the American people deserved to know about it. 

The federal recusal standard is clear: a justice must step aside in any case where there is a reasonable basis to question whether he or she can be impartial. A justice ruling on cases involving the department where his son works fails that test. The Treasury Department sits at the center of some of the biggest legal fights of this administration, and challenges to Trump’s $1.776 billion January 6 slush fund could be headed to the Court next. 

The Supreme Court is the only court in America with no binding code of conduct. That is completely unacceptable, and it has to change NOW. 

Congress controls the Power of the Purse, and therefore the Court’s funding. If the Court will not adopt a binding code of conduct with real recusal review on their own, I support withholding their funding until they do. 
 https://t.co/FV2Tkpz7Dk

[The Tennessee Holler @TheTNHoller]

Hey remember when Trump said he didn’t know what Project 2025 was and the super serious mainstream media swallowed it? 😕🤷🏼

[More Perfect Union @MorePerfectUS]

The SpaceX bylaws will include a clause that says anyone who owns shares "irrevocably and unconditionally" waives all rights to pursue a jury trial.

Shareholders will be barred from bringing class actions against the company, its directors, officers, and of course Elon Musk.

[Negan @Roger_Negan]

This

[Kyle Griffin @kylegriffin1]

This year, Trump purchased more than $1 million of Dell stock.

This week, Trump's Pentagon announced a $9.7 billion contract with Dell.
https://t.co/d3epmVJMQl

[Mike Levin @MikeLevin]

Samuel Alito’s son has worked as a lawyer inside Trump’s Treasury Department since early last year. The administration hid it.

No public resume, no LinkedIn, no mention on the Treasury website, outdated bar listings. Four former officials confirmed it.

The public was never told.

Here is why that matters.

Philip Alito served as an attorney-adviser in Treasury’s general counsel office, briefed on department matters across the board, while the Supreme Court took up a case in which the Treasury Department was a named defendant.

The department never disclosed the connection in court.

Justice Alito did not recuse.

The federal recusal law is plain. A justice must step aside in any case where his impartiality might reasonably be questioned.

That is the test.

Not whether anyone can prove influence but whether a reasonable person looking at this would doubt it. A justice ruling on cases involving the very agency that employs his son fails that test on its face.

And Treasury sits at the center of many upcoming issues, including the fight over Trump’s $1.776 billion dollar fund to reward the January 6th rioters he pardoned. That fight could be headed to the Court too.

This is exactly why the honor system has failed.

The Supreme Court is the only court in America with no enforceable code of conduct. I support withholding funding from the Court until the justices adopt a binding code with real recusal review.

Congress holds the power of the purse.

We should use it.

https://t.co/t2aZrXpaoU

[Citizens for Ethics @CREWcrew]

Trump-appointed EPA officials have troublingly deep ties to the chemical industry.

It's no wonder the agency has proposed rolling back safety rules that could help chemical companies cut down on costs and boost their profitability.

https://t.co/W92CQCHWTA

[Melanie D'Arrigo @DarrigoMelanie]

Donald Trump Jr takes a financial stake in a company…

3 months later, the Pentagon gives it $620 million…

after Trump’s White House told them to…

And the company’s valuation rose from
$200 million to $2 billion as a result.

This is corruption.
https://t.co/TLcOxyzOWO

[Read Raising Expectations (and Raising Hell) @JPHilllllll]

Musk might literally pull off the biggest scam in history

[Joyce Alene @JoyceWhiteVance]

👇🏼👇🏼👇🏼

[Meidas_Charise Lee @charise_lee]

This is such a great way to explain all of this .

[Tymofiy Mylovanov @Mylovanov]

Snyder: The essence of MAGA is losing and pretending to win. Trump is a failed businessman whose political career depends on persuading people he is successful.

When he lost in 2020, he tried to convince people he had somehow won. 1/

[Alex Prompter @alex_prompter]

Let me trace the timeline here because nobody's connecting it.

Step 1: Scrape the entire internet. Every book, every article, every conversation, every piece of art, every forum post. Do it without asking. Do it without paying.

Step 2: Train a model on all of it. Call it "artificial intelligence."

Step 3: Go to BlackRock's Infrastructure Summit and announce: "We see a future where intelligence is a utility, like electricity or water, and people buy it from us on a meter."

Step 3 is where you sell people's own knowledge back to them. On a meter.

They took the collective output of human thought, compressed it into a model, and now they want to charge you by the token to access a version of what you and everyone you know already created.

One Reddit user put it perfectly: "They stole all this data from us, the people, our life's work, creativity, art, by devouring the internet and blowing through all copyright laws. Now they want to sell it back to us in the form of a utility."

Imagine if someone photocopied every book in the public library, burned the library down, and then opened a subscription service for the copies.

That's the metered intelligence business model.

And they're pitching it to infrastructure investors as though they invented water.