IRAN SAYS IT HAS NOW FULLY BLOCKED THE BAB EL-MANDEB STRAIT, ALONG WITH THE COMPLETE CLOSURE OF THE STRAIT OF HORMUZ, WITH THE NEXT STEP BEING STRIKES ON OIL, GAS AND ENERGY INFRASTRUCTURE OF US-ALLIED GULF COUNTRIES IN RESPONSE TO TODAY'S ISRAELI STRIKES ON THE PETROCHEMICAL COMPLEX, PER A SOURCE CLOSE TO IRAN'S GHALIBAF.
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.
If NYAD AD/DC falls below the 200 day moving average with such a divergence then the stock market could face severe headwinds.
Do you agree @WalterDeemer ?
WARREN BUFFETT INDICATOR HITS RECORD 236%
• The Buffett Indicator (Total U.S. Stock Market Value As A % Of GDP) Has Reached An All-Time High Of 236%
• The Reading Suggests U.S. Equities Are Trading At Historically Elevated Valuations Relative To The Size Of The Economy
@DrCHuber@Woody_Grandpa@HighWireTalk This is the source. I sense (cannot tell exactly) that this extract, plus the infusions plus ivermectin, all had profound effects
@DrCHuber@Woody_Grandpa@HighWireTalk She had on her everyday salad a garlic lemon extract which I prepared for her every day. She also had graviola tea infusions plus the other ingredients I mentioned every single day (1 litre at least). She also took ivermectin 12mg during 7 consecutive days 3 times a year
@DrCHuber@Woody_Grandpa@HighWireTalk Sugar fosters cancer growth. It causes inflammation which is key in almost all diseases. Almost all diseases I read about are linked to inflammation and sugar fosters it.
@DrCHuber@Woody_Grandpa@HighWireTalk The only ingredient she had to stop after two months was graviola because the dishes and bottles fell from her hands. She had tremors. I added 6 to 12 leaves in the infusion. It was potent and concentrated
@DrCHuber@Woody_Grandpa@HighWireTalk I had also been reading since 2003 (when I lost my father to Pancreatic cancer) so I was determined to fight will all that was available this time around.
The diet, lifestyle, and way of life changed for all of us.
There is a way out. Not easy, it requires strict discipline.
While pandemic scammers urge panic over bird flu, Dr. Zelenko calmly laid out the cure for these 1-strand RNA viruses (COVID, flu, etc.):
Zinc & HCQ or ivermectin.
I backed him with over 500 peer-reviewed studies in my 2021 book, The Defeat of COVID.