The Paper Bitcoin Razor: Proof-Of-Alignment
Bitcoin Treasuries Part V: A Lesson In The Dark Arts—How Not To Get Rekt (A Postmortem)

bewaterltd.com/p/the-paper-...

Banks Make Loans to Non-Banks NDFIs, Ethereum basis trades, Six Flags and snail farming.

‘One tradeoff in the re-tranching of banking is that banks have more seniority but less visibility. If loans go bad, banks don’t take the first losses. But they have less ability to check that the loans are good, or even that they exist in the first place.’ www.bloomberg.com/opinion/news...

‘As passive share rises, concentration increases, which lowers the threshold for reflexivity. The system effectively lowers its own stability threshold as it grows.’ www.yesigiveafig.com/p/pay-attent...

Stagflation Deepens Multiflation Map Update

Stagflation Deepening
Multiflation Map Update

bewaterltd.com/p/stagflatio...

TTI on X: "Ya, this isn’t going to end well lmao. https://t.co/sY3ywGiQPF" / X Ya, this isn’t going to end well lmao. https://t.co/sY3ywGiQPF

x.com/tiktokinvest...

If they are inflating the values of cash flows go up in nominal dollars as well. Youre right its obviously inflated by central banks but you can still lose in tbills

You can have for example asset inflation that continues but fails to protect in real terms, yet despite the underperformance still dramatically outperform tbills

Mean debasement. It depends which stage of debasement you are in. As Mises said when public wakes up to fact that it's permanent policy things change. You do not want to be in tbills then

Debasement risk, as you know

So which?

rain on X: "This might be the most unintentionally hilarious video I have ever seen https://t.co/G5wjMv0EOE" / X This might be the most unintentionally hilarious video I have ever seen https://t.co/G5wjMv0EOE

x.com/redactedrain...

Everything is worse now than then. Screenshots of ports and ytd retail

Do you remember zhangsta

Compare and contrast with art from Great Mirror of Folly (1720)

bewaterltd.com/p/the-symbol...

Is Valuation Dead In the Age Of AI? "Psychedelic Prices" and Collapsing Economic Coordination

Is Valuation Dead In the Age Of AI?
"Psychedelic Prices" and Collapsing Economic Coordination

bewaterltd.com/p/is-valuati...

Except crypto kitties

Mr. Market’s Schizophrenic Break Of 2020 A Prelude to the Market Madness of 2024

Pretty much

bewaterltd.com/p/mr-markets...

And

bewaterltd.com/p/the-flight...

Iren crew is interesting

The FT asks “Does valuation matter any more in the age of AI?”

tldr; No. QE + ETFs + Algos + AI = HyperPrices

Hyperprices are to prices what AI bot slop is to Twitter and social media.

Read more:
bewaterltd.com/p/the-price-...

Enter The Financial Matrix Memes, Machines, Man, and Manufactured Reality—And A $5 Trillion Game of Digital Telephone

In honor of Robinhood getting added to the S&P tonight

bewaterltd.com/p/the-financ...

Meta’s Backstop Is Linchpin for $26 Billion AI Data-Center Deal When Meta Platforms Inc. turned to lenders to secure $26 billion in debt funding for construction of a sprawling new data center, one key detail made all the difference in fueling a heated bidding war...

"The financing is being run through a complex arrangement
that keeps the debt off of Meta’s books and frees up its balance
sheet as it pursues an aggressive push into artificial
intelligence"

www.bloomberg.com/news/article...

They must be reading the same books as us.

Shades of

bewaterltd.com/p/bitcoin-tr...

Norman Reedus and Helena Christensen’s Son Mingus Arrested For Allegedly Attacking Girlfriend Mingus Lucien Reedus — the 25-year-old son of The Walking Dead’s Norman Reedus and his supermodel ex Helena Christensen — was busted for allegedly attacking his girlfriend in New York City, per New Yo...

Emphasis on was.

www.yahoo.com/entertainmen...

www.youtube.com/watch?v=jd-q...

Bitcoin TreasuryCos: Lessons From The 1929 Crash Speculative Attack! Part III

bewaterltd.com/p/bitcoin-tr...

Bitcoin TreasuryCos: Lessons From The 1929 Crash Speculative Attack! Part III

Closer to the investment trusts of the 1920s than CDOs bewaterltd.com/p/bitcoin-tr...

Navigating Multiflation Five Archetypes: An Elaboration

We used same vid! bewaterltd.com/p/navigating...

Table Of Contents Begin Here

John, you may enjoy our ongoing series on the Financial Matrix, or why fundamentals don't seem to matter: bewaterltd.com/p/table-of-c...

The Price Of Everything & Value Of Nothing How Skynet Is Digitally Remastering History's Greatest Economic Debate

Great article! You might enjoy our series on AI corrupting the price system. E.g., bewaterltd.com/p/the-price-...