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“I actually think that him opening the door to allow people to invest in meme coins was intentional to try to, you know, kinda push out, you know, the shit to basically collapse the altcoin market in the end. I actually think that that was intentional. They issued guidance that says meme coins are not securities. He did help the alt industry, you know, kind of self-emulate.”

“Volcker had debt to GDP floating between 25% and 32% or something. Some would argue we're at 130%, right? It's not the same environment. He could hike to 20% without crushing the economy. What he did was he starved it. People were borrowing to spend. He starved it. People, investment was off the charts. And unions were basically demanding crazy pay raises. And unions mattered a lot more back then than they do.”

“The only things that we know for sure are that if oil goes up and he loses control of it, it goes towards 150 or 200, it will trigger a demand shock. It's already doing it. Airplanes flying, prices have just gone way up. I'm going on a trip in a couple of weeks, we were going to meet somebody and they said, no, forget it. The plane tickets are way too expensive to go. So you're going to see a big demand shock about that.”

“What gets me is that we get, everything is dumbed down to the point where we, they only communicate to the lowest common denominator and just treats everyone like a moron. It's like, we're not that, I mean, you know, God bless us, we try as best as we can as a species, but we're not that, we're not that dumb, right? You can use more than two syllables in a word if you want, right?”

“They muted Richard Engel. They muted a member of the American press at a press conference in the middle of the war.”

“The signal Bitcoin traders have waited over a decade for is finally here. In the last 24 hours, we have learned Bitcoin is now being used by two major world governments. Now, when you first truly get Bitcoin and finally understand it, you imagine a world where Bitcoin completely replaces the US dollar, and becomes the sole currency of the globe.”

“The other people, I don't think, were aware that the pool is, you know, 93% collateralized, but effectively by one entity. This is about the fact that that the entire DeFi ecosystem has enormous issues that are undisclosed to people who participate in it. And this is going to be meat to the lions on the regulatory side because it is exactly the sort of thing that good regulators care about.”

“I text her at the beginning of the game, well, this is the rough start for Golden State. And then at halftime, I said, oh, they're hanging around. And then my daughter's last text was in the fourth quarter with about eight minutes left. I said, if they hang around long enough, the step can see the finish line, he's gonna take it. Yeah. And that is exactly what happened, you know.”

“To remind people, a very demoralised and sort of hangdog Britain is reeling after the 1973 oil shock. The Tory Prime Minister Ted Heath has tried to impose his wage controls. The coal miners rebelled. They blew his economic policy apart. He called an election in February 74. The result was stalemate. Back came Harold Wilson, the leader of the Labour Party as Prime Minister for the second time.”

“the right wing is ripping itself apart, really not helpful towards midterms or beyond.”

“Counting on ran for 11 seasons and ended in June of 2021, not because anything changed about the network's relationship with the family, but because Josh Duggar was arrested on federal child charges and the situation became impossible to broadcast around again. Another cancellation, another statement about how saddened and troubled the network was, while they maintained one continuous revenue stream in between the scandals.”

“Wilson is drinking a lot. Bernard Donoghue's diaries from 1975 often describe him drinking four or five glasses of brandy or whisky at lunch, especially when he's got to go to the Commons and argue with Margaret Thatcher. In November 1975, Donoghue recalls that Wilson went to a diplomatic lunch, and then at this lunch, Joe Haynes said he was all over the place and drank too much. He then went to the Commons and gave an absolutely shambolic performance.”

“Lufthansa planning to cancel 20,000 short haul flights to save jet fuel. 20,000 short haul flights to save on jet fuel, and that's not just the only story. United Airlines slash in 2026 forecast as fuel cost surge, and that story leads to the next one.”

“It is initially available for pro subscribers. So 200 bucks a month. So this shit is expensive. No, but if they're releasing a feature only to pro subscribers, it means it's too expensive. And as usual, this shit just works for you overnight. What the fuck are you talking about, Sammy?”

“You can go into the code, and you can actually see what they can do and what they can't do. You can see if they want to, they can issue a trillion coins. And you know if you're invested in that, you are investing that. What we're talking about now is the balance of how much do we want to allow people to buy what they wanna buy.”

“The market is pricing, this drags out for a little while. It ultimately gets resolved in a kind of negative-ish but not horrible way where oil starts flowing again. And geopolitics is between the US and China, and we don't care. And everyone just kind of retreats into their bubble of not much has changed, right? That's what the market is pricing. That's where the malaise is coming from.”

“When you're raised from birth inside a system that teaches obedience and godliness and independence is witchcraft, you don't experience the cage as a cage, you experience it as protection. The children who left have described in varying degrees of detail a system of shame and financial dependency that didn't end when they turned 18, didn't end when they married, and didn't end until they physically removed themselves from the compound.”

“These problems happen because of a lack of regulation. You know? Not all regulation is bad. A lot of it is. A lot of regulation is written by the companies to create motes and competitive weapons for them, but basic disclosure sort of rules are good. And without clarity, this is exactly the sort of thing that would happen.”

“Marcia is Wilson's political secretary and she has this extraordinary and inexplicable hold over him. So every now and again, she would lift up her handbag, point to her handbag and say to his other aides, whom she hated, 'one call to the Daily Mail and he will be finished. I will destroy him.' She supposedly said to Wilson's wife, Mary, 'I have only one thing to say to you. I went to bed with your husband six times in 1956 and it was not satisfactory.'”

“When we fall below the 200-week moving average and bounce above the 20, we never really fell much lower. We had a little bit of a wick there, but that's it. Other than that, you can see we tested the 200-week moving average, support, support, and then off into the races. Then Bitcoin had a bull run.”

“My primary concern when I saw the news break was that this is going to put this potential legislation in protracted debate now about the things that we all have worried would be the killers of this bill, including now really having a case to box Trump in on an ethics clause in this thing. I am concerned it's gonna give the opportunity for people who don't wanna see crypto adoption to kill this bill.”

“Clearly smoking something bad, because here's the irony of it, right? I opened the papers this morning, wall to wall panning, like no one thinks this is a good, like this was an effective speech. I would have been better if it's like, Elbow, here's a six pack of beer, drink that and then just go for it, right? Like, just no speech, unprepared, just let loose. And I guarantee you, I'm not saying it would have been a roaring success, but it would have been better than what was actually delivered.”

“Well, it was that in fact a nightmare scenario that had been in not only for energy, but for strategic planners for decades had happened. I think it's one of those things that people looked at as a scenario but thought it would never happen, but then it happened. And it does change the world and it changes the way people think about energy. We've had supply chain shocks, but this was the mother of all supply chain shocks in terms of the closure of the Strait Of Hormuz.”

“The big question is whether or not all of this AI spending is a bubble. I feel very safe in saying yes. You have committed to failure, there is no doing this. If they gave every dollar just to Sam Altman, the guy who can't even tell you why you're giving the money to him, when you're like, what are you going to do? Sam is like, why can't we do that?”

“Right away, Judge Eaton is like, listen, you have to pay this money back and it shouldn't be that hard. You all have done this before. You can, you have the tools you need. Just start issuing refunds. This, you know, this should be easy. I believe that there will be no chaos associated with the provision of these refunds and that it will not result in a mess.”

“Andy Jassy, there's a clip that came out telling Gen Z that if you want to be successful, you have to pay your dues first. How dare he say something like that? Isn't that offensive? Don't you find that a little bit offensive, David? Shouldn't they get it? Shouldn't they be entitled to just a $200,000 salary day one?”

“You know, 100 billion is a small dent in it. And the numbers are also like... They're missing the story of what this amount of infrastructure is capable of doing. Like 10 gigawatts of compute, again, easy to throw around numbers like that. But the amount of work... this is the real deal. This is the thing people have been waiting for.”

“We also talk about the AI industry's seemingly insatiable demand for electricity, and how this is rippling across the entire energy landscape. This is part of the long term trajectory of the energy layout which seems to have been altered, no matter what happens immediately with the conflict in Iran.”

“When he passed away, Apple was worth 100 billion. Now it's worth a few trillion. And now they have a new CEO. So there's a lot of ruckus. Some people are excited. Some people are not. Personally, I like Tim Cook. I know a lot of people have some criticism of him, but we'll talk about Tim Cook as the new CEO.”

“I mean, let's not go too far down this rabbit hole, but there is great convenience being on a single ecosystem, great platform. It is a little bit of a, I mean, it depends, right? It depends as always, but as sort of like, we're putting a lot of digital infrastructure in the hands of one private corporation. My point is always, well, it doesn't matter who the person is, they're a person and people are flawed.”

“Wilson once was such a pivotal figure in British politics. Kind of forgotten today, but he won four elections out of five in the 1960s and 1970s, a record that seems very unlikely to be equaled anytime soon. As a politician, he's resilient, he's pragmatic, he's very cunning, his wiliness is legendary. He has moved over the course of his career, starting out on the left and moving steadily more and more towards the centre.”

“Cash Patel yesterday, and what's his name? Todd Blanch were talking about this thing called SPLC, Southern Poverty Law Center, and what the FBI found out. And then, you know, Cash was pushed on a couple of things, having to do with the story that came out, drinking and all this stuff, and Cash pushed back.”

“I still don't know who I'm voting for for MVP. I've changed my mind. I've had a conscious uncoupling with my original SGA thing. I just over and over again keep thinking, what in 10 years, what am I going to think? Am I going to regret doing this? Because there's been a couple MVP picks I've regretted over the years. I'm just not ready to make a pick yet.”

“Marcia is Wilson's political secretary and she has this extraordinary and inexplicable hold over him. So every now and again, she would lift up her handbag, point to her handbag and say to his other aides, whom she hated, 'one call to the Daily Mail and he will be finished. I will destroy him.' She supposedly said to Wilson's wife, Mary, 'I have only one thing to say to you. I went to bed with your husband six times in 1956 and it was not satisfactory.'”

“I saw the master of hype, Casey Newton, talking about this. He was like, yeah, it could suggest planning Halloween costumes. It's like, that is solved by Party City. If you have children, they will just tell you what they want to wear. If you were a parent, it's like, what the fuck am I going to do for my kid's Halloween thing?”

“Lufthansa planning to cancel 20,000 short haul flights to save jet fuel. 20,000 short haul flights to save on jet fuel, and that's not just the only story. United Airlines slash in 2026 forecast as fuel cost surge, and that story leads to the next one.”

“TLC aired the show until May of 2015 when the story broke about Josh's ways with kids, but then they greenlit Counting On, a spinoff featuring the rest of the Duggar children, because why not profit from other people's suffering? They didn't leave, they just restructured, and the network released a statement calling the situation heartbreaking before renewing the franchise and counting all the way to the bank.”

“We also talk about the AI industry's seemingly insatiable demand for electricity, and how this is rippling across the entire energy landscape. This is part of the long term trajectory of the energy layout which seems to have been altered, no matter what happens immediately with the conflict in Iran.”

“I expect to be bombing because I think that's a better attitude to go in with. But we're ready to go. I mean, the military is raring to go. They are absolutely incredible. I built the military in my first term. I'm using it now.”

“Well, it was that in fact a nightmare scenario that had been in not only for energy, but for strategic planners for decades had happened. I think it's one of those things that people looked at as a scenario but thought it would never happen, but then it happened. And it does change the world and it changes the way people think about energy. We've had supply chain shocks, but this was the mother of all supply chain shocks in terms of the closure of the Strait Of Hormuz.”

“Michelle Duggar's soft, littling voice, the one that became a kind of cultural punchline, the perpetual sweetness of it, the almost childlike register, isn’t a quirk. Former IBLP members have described it specifically as a trained presentation, the yielding affect of a woman who has fully internalized the doctrine of submission, and statistically speaking, you will find this to be a pattern and a trend in someone who has suffered childhood abuse.”

“The speech was so incredibly poorly constructed. And it was hackneyed. And God love Alba, I don't know what it was about Labour leaders, Shorten, Gillard and Alba over the past, you know, I think the past three leaders... they've been obviously so drilled about, don't say this, don't say that. Alba smiled like a kind of maniac because he was told to smile, obviously. And then the address was this really wooden delivery.”

“They were like, well, okay, everyone, we should really be concerned because there's only, we need $2 trillion of revenue to make this worth it. And then like, but we're going to be 800 billion short. What? There's $55 billion, which is including Core, we've Nebius and all the different people selling AI computers. About $55 billion of revenue. How are we getting the other $1.9 trillion, $95 trillion?”

“Vance calling Netanyahu out on the fact that there seems to be no chance that a popular uprising will topple the regime as the Prime Minister of Israel promised our president.”

“We had two different prices going at the same time. We had the the Brent, the futures price, which was always saying, well, this is gonna end and prices are gonna come down. And then there was the dated Brent, the near term, which said, we are having a major dislocation and prices are really going up. And we've never seen that dislocation on that scale before. It was like two different visions of the world almost.”

“My favorite line, actually, of the whole thing was he talked about the shift workers and nurses. And it's just, it just, if there's anything about the, that shows how incredibly stupidly focused group this was, it's, so shift workers, what, if you work in... someone said, I would write a thing, and someone else has gone, that's good, do that, and the other has gone, fantastic, I'll read that. It's like, what were you people smoking? Like, what were you seriously doing?”

“The other thing I wanted to mention, we got a word today that Cade and Luka are now eligible for first-team OMVA, or second-team OMVA, or MVP, or whatever you want, because they were peel-plush process work. So I'm just gonna give you my ballot with the adjusted Luka. First team, Yokage, Wemby, Luka, SGA, Jalen Brown. Second team, Duran, Kawhi, Mitchell, Cade, Brunson.”

“And we now have the US military confirming that they see Bitcoin as a very useful tool for the global financial structure. This is the House arm committee from the day before. Bitcoin shows incredible potential as a computer science tool. We have a node on the Bitcoin network and in that protocol.”

“Trump comes out and basically repeats his normal talking points. He more or less quoted truth social. And the markets are like, holy fuck, he doesn't know what's going to happen. Remember, everyone in the market, in the media market, is very negative on Trump. And so, it's just that's true. I mean, look, the mass media is against him, thinks that this is going to be a disaster.”

“Vice President JD Vance is expected to be the top US negotiator in potential peace talks between the Americans and the Iranians.”

“Now, given all that bullish news between Russia and the US military, you would expect this should be kicking off Bitcoin for a mega bull rally. But what do the charts tell us? Well, I wanted to point something out because we just are now trying to flip a very, very important line. This red line right here, this is going to be the 20-week EMA or the 20-week moving average.”

“And silver is interesting because silver and Bitcoin are almost been perfectly correlated recently. I don't know if you noticed that. Silver is down 7% today. It's not surprising. It's become the Nuvo Industrial Medal. And so the fact that silver and Bitcoin are new, there's nothing Bitcoin centric about what's happening today.”

“Wilson is drinking a lot. Bernard Donoghue's diaries from 1975 often describe him drinking four or five glasses of brandy or whisky at lunch, especially when he's got to go to the Commons and argue with Margaret Thatcher. In November 1975, Donoghue recalls that Wilson went to a diplomatic lunch, and then at this lunch, Joe Haynes said he was all over the place and drank too much. He then went to the Commons and gave an absolutely shambolic performance.”

“I think from the industry point of view, they saw there there are major dislocations, and those dislocations are playing out unevenly across the world. Asia hit the hardest, Europe feeling it, and then The US mainly seen it in terms of rising prices at the gasoline pump, but no problem getting supplies. But in Asia, a big problem getting supplies.”

“This is the story of today's episode. It's about the first Brexit referendum in June 1975 when Britain took the fateful decision not to leave what became the EU. And it's about how Harold Wilson struggled to stop Britain plunging into hyperinflation and complete economic meltdown in the course of 1975. A very demoralised and sort of hangdog Britain was reeling after the 1973 oil shock.”

“When he passed away, Apple was worth 100 billion. Now it's worth a few trillion. And now they have a new CEO. So there's a lot of ruckus. Some people are excited. Some people are not. Personally, I like Tim Cook. I know a lot of people have some criticism of him, but we'll talk about Tim Cook as the new CEO.”

“I expect to be bombing because I think that's a better attitude to go in with. But we're ready to go. I mean, the military is raring to go. They are absolutely incredible. I built the military in my first term. I'm using it now.”

“Just have oil pipelines going west through the Arabian Peninsula, right up to Israel, right up to our Mediterranean ports. And you've just done away with the choke points for forever.”

“We had two different prices going at the same time. We had the the Brent, the futures price, which was always saying, well, this is gonna end and prices are gonna come down. And then there was the dated Brent, the near term, which said, we are having a major dislocation and prices are really going up. And we've never seen that dislocation on that scale before. It was like two different visions of the world almost.”

“The government said that importers are going to have to basically keep a spreadsheet, create a spreadsheet of all of their imports and all of the tariffs that they paid and make their own calculations, basically do their own accounting. And they're going to have to take that spreadsheet and upload it to the government's system.”

“And the government was like, wait, wait, wait. This is actually gonna be more complicated than you think and we have to create a system and we can't just push a button and give everybody refunds. There are tens of millions of entries and so obviously that is going to require a significant effort. At one point, the government's lawyer suggested that the process would require a person to manually review each payment.”

“Presently, we have a node on the Bitcoin network right now. We're not mining Bitcoin. We're using it to monitor. And we're doing a number of operational tests to secure and protect networks using the Bitcoin protocol. I appreciate that, Admiral.”

“Iran's ability to control the Strait against a much stronger military is a demonstration that the balance of global power is changing, with profound ramifications for countries around the world. We discuss how different regions are being affected, and how it will change their calculus when it comes to energy security.”

“This is the story of today's episode. It's about the first Brexit referendum in June 1975 when Britain took the fateful decision not to leave what became the EU. And it's about how Harold Wilson struggled to stop Britain plunging into hyperinflation and complete economic meltdown in the course of 1975. A very demoralised and sort of hangdog Britain was reeling after the 1973 oil shock.”

“Andy Jassy, there's a clip that came out telling Gen Z that if you want to be successful, you have to pay your dues first. How dare he say something like that? Isn't that offensive? Don't you find that a little bit offensive, David? Shouldn't they get it? Shouldn't they be entitled to just a $200,000 salary day one?”

“Cash Patel yesterday, and what's his name? Todd Blanch were talking about this thing called SPLC, Southern Poverty Law Center, and what the FBI found out. And then, you know, Cash was pushed on a couple of things, having to do with the story that came out, drinking and all this stuff, and Cash pushed back.”

“I think from the industry point of view, they saw there there are major dislocations, and those dislocations are playing out unevenly across the world. Asia hit the hardest, Europe feeling it, and then The US mainly seen it in terms of rising prices at the gasoline pump, but no problem getting supplies. But in Asia, a big problem getting supplies.”

“Iran's ability to control the Strait against a much stronger military is a demonstration that the balance of global power is changing, with profound ramifications for countries around the world. We discuss how different regions are being affected, and how it will change their calculus when it comes to energy security.”

“To remind people, a very demoralised and sort of hangdog Britain is reeling after the 1973 oil shock. The Tory Prime Minister Ted Heath has tried to impose his wage controls. The coal miners rebelled. They blew his economic policy apart. He called an election in February 74. The result was stalemate. Back came Harold Wilson, the leader of the Labour Party as Prime Minister for the second time.”

“The Russian news is breaking. Russia approves crypto use for foreign trade amidst sanctions. And that is not surprising given that Iran is demanding tankers and illustrator homos pay tolls in crypto. And these Russian rule changes primarily involve businesses, large entities, settling international trade. This isn't for the mom and pop investor. This is for major Russian corporations to use Bitcoin as their legal tender.”

“After Trump's tariffs, companies flooded the Court of International Trade with lawsuits, arguing that the administration's terrorists were illegal. And now that the Supreme Court has sided with these companies, the Court of International Trade has to deal with more than 3,000 refund requests. All these lawsuits are largely carbon copies of one another.”

“The one I think is the most interesting for an underdog pick if you want to get nuts is the Lakers. Lakers in seven is 10 to 1, Lakers in six is 22 to 1, and the Lakers to win this series is plus 530 I just feel like we're gonna get Luka back before the end of this series. Even if it's 2-1 after 3, the longer that series goes on, I think the worse I think it is for Houston. I just think the odds are a little out of whack.”

“Wilson once was such a pivotal figure in British politics. Kind of forgotten today, but he won four elections out of five in the 1960s and 1970s, a record that seems very unlikely to be equaled anytime soon. As a politician, he's resilient, he's pragmatic, he's very cunning, his wiliness is legendary. He has moved over the course of his career, starting out on the left and moving steadily more and more towards the centre.”

“In last night's game, like his defense was next worldly. I was surprised. I thought Kawhi would be more aggressive and all that stuff. But I actually thought at times he was... fighting to get the ball every possession, getting bumped up the floor. I mean it takes a toll. Kawhi probably very rarely fights or plays against someone that's bigger and stronger than him for a whole game. I thought the game took a toll on Kawhi and I thought it was Draymond's doing.”

“Jill’s husband Derick Dillard has publicly alleged that Jim Bob negotiated their television contracts, controlled the payments, and collected money earned by his adult married children without their knowledge or meaningful consent. Jill spent years in therapy after leaving, eventually writing a memoir where she called the environment she grew up in cult-like, describing a life where every element of that image was managed, approved and financially controlled, allegedly by Jim Bob.”

“In February, when the Supreme Court declared the lion's share of President Trump's tariffs illegal, the justices left one big question unanswered. Ever since Trump's sweeping tariffs, companies big and small have altogether paid the government billions of dollars. It is $166 billion. So you know, the federal government has never been told that it has to give back that much money before.”