Luke Gromen returns to lay out the trap: the deficit can't be cut without triggering a depression, so the Fed will end up capping bond yields by printing into an inflation spike. Plus the Hormuz supply shock, AI eroding the tax base, and why gold is leading the exit with Bitcoin behind it.
Joe Consorti walks through the K-shaped economy the money printer built: stocks at record highs while sentiment hits a record low, a Fed boxed in by a trillion-dollar interest bill, stimulus checks he expects back, and the game theory that ends with the US printing money to buy Bitcoin.
Fund manager John Tinsman screens for the highest-growth, lowest-marginal-cost companies on the market, and his read on AI is blunt: the data-center economics are some of the best he has seen, the token shortage is the real story, and the build-out is barely a year into a decade-long cycle.
Pablo Antonio and DC Posch spent months at San Francisco farmers' markets documenting how food-stamp fraud quietly funds the fentanyl trade. Their conclusion is uncomfortable: the NGO complex built to help addicts has an incentive to keep them addicted. Plus the case for rebuilding a beautiful city.
Investor Jordi Visser returns to argue the entire US economy is now an AI trade: stocks are carrying consumption, the agentic era turned tokens into a chips-and-energy commodity, and the real risk is bottlenecks, not a credit freeze. Plus why crypto becomes the settlement layer for all of it.
SemiAnalysis coined 'Dark Output': real AI economic value that GDP cannot see. $1.5T in exposed labor. Junior workers vanishing from data while wages rise. The incoming Fed Chair admits the instruments are broken.
Gemini 3 and Claude Opus 4.5 were trained on Google TPUs, not NVIDIA. Anthropic building 1+ GW of TPU capacity. Meta wants in. More competition means faster, cheaper AI for everyone.
Visser frames AI as a $90T buildout, not a bubble. 97% of returns from AI sectors. His scarcity portfolio: silver, copper, Bitcoin. Plus Cube, BIP324, Hormuz mines.
Luke Gromen returns to lay out the trap: the deficit can't be cut without triggering a depression, so the Fed will end up capping bond yields by printing into an inflation spike. Plus the Hormuz supply shock, AI eroding the tax base, and why gold is leading the exit with Bitcoin behind it.
Joe Consorti walks through the K-shaped economy the money printer built: stocks at record highs while sentiment hits a record low, a Fed boxed in by a trillion-dollar interest bill, stimulus checks he expects back, and the game theory that ends with the US printing money to buy Bitcoin.
Fund manager John Tinsman screens for the highest-growth, lowest-marginal-cost companies on the market, and his read on AI is blunt: the data-center economics are some of the best he has seen, the token shortage is the real story, and the build-out is barely a year into a decade-long cycle.
Pablo Antonio and DC Posch spent months at San Francisco farmers' markets documenting how food-stamp fraud quietly funds the fentanyl trade. Their conclusion is uncomfortable: the NGO complex built to help addicts has an incentive to keep them addicted. Plus the case for rebuilding a beautiful city.
Investor Jordi Visser returns to argue the entire US economy is now an AI trade: stocks are carrying consumption, the agentic era turned tokens into a chips-and-energy commodity, and the real risk is bottlenecks, not a credit freeze. Plus why crypto becomes the settlement layer for all of it.
SemiAnalysis coined 'Dark Output': real AI economic value that GDP cannot see. $1.5T in exposed labor. Junior workers vanishing from data while wages rise. The incoming Fed Chair admits the instruments are broken.
Gemini 3 and Claude Opus 4.5 were trained on Google TPUs, not NVIDIA. Anthropic building 1+ GW of TPU capacity. Meta wants in. More competition means faster, cheaper AI for everyone.
Visser frames AI as a $90T buildout, not a bubble. 97% of returns from AI sectors. His scarcity portfolio: silver, copper, Bitcoin. Plus Cube, BIP324, Hormuz mines.
Washington banned a US central bank digital currency, then quietly built its surveillance twin out of private stablecoins that freeze, block, and report by law. Here's the documented record of how the digital dollar arrived without a CBDC, and what still defends against it.
Asian LNG surged 97%. Refineries cut 6M bbl/day. The IEA calls Hormuz the greatest threat to global energy security in history. Two central banks are hiking into it.
FinCEN told prosecutors Samourai Wallet wasn't a money transmitter in August 2023. SDNY indicted Keonne Rodriguez and William Lonergan Hill six months later. The documented record, the legal theory, and what you can do this week.
Lauren Rodriguez joined the show to talk about her husband Keonne's five-year sentence for building Samourai Wallet, the August 2023 FinCEN call that prosecutors hid for fourteen months, and what every Bitcoiner can do this week to help.
The 1953 Army document, the 1960s radioactive tick releases, the 2019 Smith amendment forcing Pentagon declassification — here's what's documented about America's Lyme bioweapon history and what to do about it this summer.
How a Martha's Vineyard tick bite and a chance encounter with a CIA black-ops operative at a Texas birthday party launched Kris Newby's 20-year investigation into the Cold War bioweapon program behind today's Lyme and Alpha-Gal explosion.
