WATCH NFL

“And then this Scoot Henderson game, 31 points. So Nick Wright texted me this. He now has 10 more career playoff points than Wembley. I feel like I'm still in it with Scoot. Can't give up yet. I thought Scoot was awesome today. Now he had one rebound and zero assists, but the defense and the fearlessness and the athleticism was what we thought it might be.”

“Blackrock doesn't turn around and buy the Bitcoin the second the cash hits their account. Instead, they wait. They wait until the very end of that trading day. The same time every single weekday. Now, this is right around 3 to 4 p.m. Eastern close, when the New York Stock Exchange bell rings and the NAV gets calculated.”

“Several forces are converging that could reshape employment in a meaningful way. First, AI is already starting to show up in the data, emerging as the top cited reason for planned layoffs last month. Second, the Trump administration is tightening immigration, which has historically been a key driver of growth for the US labor force.”

“The coming civil unrest from AI-driven job displacement, why Trump and Bessent are pushing stablecoins, and what it all means for Bitcoin. Jeff argues we're already living through the collapse of the post-war financial order, the petrodollar is dying, oil is being traded in yuan, gold, and Bitcoin for the first time since the 1970s, and the US is entering a new era of yield curve control and structural inflation.”

“Housing shortage is at least 10 million. They said it was 2.5 million a few years ago. Then they said 4 million. Now it's 10 million shortage. So what kind of a cost is that good? Is that a lot of jobs?”

“The post was deleted after many, including Trump supporters, criticized the imagery. Trump also said he won't apologize to to pope Leo after lashing out at the pontiff for his comments criticizing the war in Iran. Pope Leo called the president's threats last week to destroy Iranian civilization unacceptable.”

“It tells how he's this young boy in his monastery, and then a servant who is loyal to his father's memory reveals to him his true identity. And Yoshitsune then goes up onto the side of the mountain of Mount Kurama, and he meets the great Tengu, who is the spirit lord of the mountain. And very fortunately for Yoshitsune, the greatest teacher of martial arts anywhere in the cosmos, and the great Tengu instructs Yoshitsune in swordsmanship. So, in a sense, he is Yoda to Yoshitsune's Luke.”

“Portland, frisky seven seed. Like, I I think Portland's a better playoff team than either Houston or Toronto. So you're going to Portland. The energy's gonna be amazing. El Cheapo is gonna be shooting out, probably used t shirts out of 15 year old Canon, t shirt candidates. I can't wait for for this weekend, but we'll see what do the spurs have in them without Wembley.”

“What it all means for Bitcoin. Jeff argues we're already living through the collapse of the post-war financial order, the petrodollar is dying, oil is being traded in yuan, gold, and Bitcoin for the first time since the 1970s, and the US is entering a new era of yield curve control and structural inflation. We get into his three burners framework, why he thinks we're in World War III, the coming civil unrest from AI-driven job displacement.”

“When we are finished, take over your government. It will be yours to take. This will be probably your only chance for generations. Now is the time to seize control of your destiny and to unleash the prosperous and glorious future that is close within your reach. This is the moment for action. Do not let it pass.”

“We get into his three burners framework, why he thinks we're in World War III, the coming civil unrest from AI-driven job displacement, why Trump and Bessent are pushing stablecoins, and what it all means for Bitcoin. The days of imperial America as the global hegemon will be drawing to a close. Dr. Jeff Ross returns to the show to break down why the dollar system is ending and what comes next.”

“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.”

“Will gold reach $6,000 by the end of the year? Multiple companies are saying by the end of the year, it's going to be $6,000. And wait till you hear which one of them said it's going to be $6,300 by the end of the year.”

“Iran's security forces open-fired on protesters in at least six different neighborhoods in Tehran. There were accounts of people being shot in the head, in the eyes. Similar massacres were unfolding in cities across the country. It's unclear how many people were killed by security forces. One human rights organization estimates the number to be around 7,000, but it could be even larger.”

“Anxious parents, according to Bloomberg, are spending upwards of $50,000 to land their kids a job. It now costs $300,000 to raise a child in the US., really daunting situation for parents. If you want to have five kids, that's $1.5 million you need over a span of 18 years.”

“But then, my husband and I, we think that we really belong to this country. It's so rich in every aspect that you cannot go live somewhere else. You know, we need meaning, and Iran is my meaning of life. I prefer a hard life with meaning to an easy life empty. So it's like this, you know, for me.”

“The very mechanism that was sold to you as institutional adoption is now the most reliable daily catalyst on the charts. Their own rules just handed every single retail trader on earth the same cheat code. There really isn't any way for them to change this either.”

“Blackrock doesn't turn around and buy the Bitcoin the second the cash hits their account. Instead, they wait until the very end of that trading day, right around 3 to 4 p.m. Eastern close, when the New York Stock Exchange bell rings and the NAV gets calculated. The authorized participants and the ETF custodians go into the market and begin purchasing Bitcoin.”

“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 Iranian government had effectively cut off the country from the rest of the world. The number I kept seeing was 99%. 99% of Iranians who normally had access to the internet now didn't. I was trying to reach the remaining 1%. These would be people with workarounds like VPNs or enough money to afford satellite communications like Starlink that could get them online for even just a few minutes.”

“Blackrock isn't just participating in Bitcoin. They're creating a daily liquidity event for you. You can trade around with surgical precision. Of course, the financial press won't call it manipulation. They'll call it efficient market making or standard creation metrics.”

“You're absolutely correct that the fiscal deficits seem to be stuck at between 5 and 6 percent of GDP. You and I early in our career spent time at Treasury, and in our day, that would have been a real eye-popping number in an economic expansion. Basically, anything over two or three is something you would get focused on.”

“The US naval blockade on Iranian ports took effect April 13 at 10AM eastern after peace talks in Islamabad collapsed over the weekend according to NPR. The fact that this occurred, it seems to have been relatively well received by the market. That is to say this blockade didn't happen, the negotiations didn't fall apart, and we didn't immediately go straight back to hell in the market.”

“The NAR is revising its housing forecast down for the year. That's because the war with Iran has raised the cost of borrowing, and that sent mortgage rates up. The association went from rejecting a double digit increase in existing home sales to just 4%.”

“Natural gas, which is a huge part of what the Middle East exports in terms of energy, that is key for global power generation. It's key for air conditioning. It's also a key input for manufacturers around the world. If we're thinking about companies that build everything from chips to companies that create steel and need high heat, to companies that produce fertilizer for farming, all of that requires an immense amount of natural gas.”

“There was a survey from the University of Michigan. It was the lowest ever in 74 years of the survey taking place. And so some of that might be an overreaction in vibes because the economy was pretty strong coming into this. But the direction of travel, how fast that plummeted in just one month as people were seeing those price increases in the gas station, that just goes to show that people hate this.”

“I think the bottom's in for markets overall. That doesn't mean you don't get a pullback, especially going to OpEx later this week. But I think, overall, I think you've you've got a bottom. There's so much hedging, so much shorting taking place. There's not many people left to sell, and I think there there are great opportunities out there.”

“He stands on a bridge in Kyoto, the story goes, and every samurai he tries to cross it, Benkei fights him. And he is so invincible that he ends up with 999 swords. So he's got one sword to go to make the thousand. And his opponent is a very slight, elegant youth, wearing a woman's cloak, who'd been playing the flute as he approached the bridge. Well, maybe, because he turns out to be so formidable an opponent that Benkei ends up defeated.”

“The rules are that they have to back these shares by the end of that day. So they buy every day if the inflows are there at the same exact time, the same channel. And now crypto traders, you must listen up to this because this is the part that actually matters to you.”

“When it came to Trump's call to overthrow the government, many of those opposed to the regime said it didn't make sense to take to the streets and protest. It was too dangerous. One source told me her friend's daughter was shot and killed on the street by what she described as pro regime forces. Because our neighbor who was a civilian was killed in an attack. Another told me her neighbor was at work when he was killed by an airstrike.”

“Blackrock isn't just participating in Bitcoin; they're creating a daily liquidity event for you that you can trade around with surgical precision. This is not random, and it is not spread out across 24 hours. It is scheduled, concentrated buying sprees that happen like clockwork.”

“If you think of the back of a watch and you turn it over and you see the gears rotating and the cogs hitting, that's how you should picture the labor market. We have now three years of data showing just how much those gears have slowed. It's not something that we typically and historically see in the unemployment rate, but we're not seeing now. You can look at hiring, you can look at quits, you can look at the three month growth in wages. They all point to a decline in labor market mobility.”

“We are a net exporter of energy. We are the largest oil producer the world has ever seen. So why the heck am I paying higher gasoline prices when all of this is happening 7,000 miles away? The reason why is oil is the most global market. So we are a huge exporter of crude oil, of gasoline, of jet fuel, mainly from the US Gulf Coast. So that tethers us to the global market in a really big way.”

“Iran's supreme leader, Ayatollah Ali Khamenei, had just been killed in an airstrike. Many of the people I spoke with were critical of the regime, like the vast majority of Iranians. Their spirits seemed high. People in the streets, we were chanting slogans and making the victory signs, saying, military help from Israel and the United States. It's here. It finally happened.”

“It's also interesting to me to see the pressure around this vis a vis their regional, like, neighbors because after they launch rockets and everybody, you know what we're not seeing for the Strait Of Hormuz blockade by The US is criticism from the other regional powers. This moves the war for both sides to a different layer of the strategic level of war.”

“It's like, if I can little by little change this part of the society which is very conservative and religious, that they accept that I am also a part of this society. I accept they are also a part of this society. Let's just get along with each other. This is the best way, I think, for Iran. When I saw that women are actually not wearing the hijab on the street anymore, it was really amazing.”

“The days of imperial America as the global hegemon will be drawing to a close. Dr. Jeff Ross returns to the show to break down why the dollar system is ending and what comes next. Jeff argues we're already living through the collapse of the post-war financial order, the petrodollar is dying, oil is being traded in yuan, gold, and Bitcoin for the first time since the 1970s, and the US is entering a new era of yield curve control and structural inflation.”

“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.”

“The briefing also warned that the gasoline oil prices may remain elevated through the midterm elections. So the Pentagon deeply concerned about inflation and at the same time the Pentagon running a Bitcoin node. Those stories are connected everybody and I just want to shout that from the rooftops.”

“He spoke to the Senate yesterday. Yesterday he spoke to the or the day before yesterday he spoke to the House. He said the military is running a live node on the Bitcoin network testing it for national security purposes. And he made the disclosure at the House Armed Services Committee hearing on Wednesday. This is a day after telling the Senate Armed Service Committee that Bitcoin has incredible potential as a tool for power projection, American power projection.”

“Yoshitsune had been brought up in complete ignorance of his father's identity. He did not know that he was the son of this great Minamoto lord. And then at the age of six, he gets packed off by Kiyomori to a monastery north of Kyoto on the slopes of Mount Karama. Kiyomori's plan is that Yoshitsune will grow up in harmless and ignorant seclusion as a monk. He doesn't know who his father is, doesn't know that he's a Minamoto, and he's a monk, so therefore, hopefully he's not going to grow up to become a samurai.”

“We have now finally broken that streak where Bitcoin is now trading higher one week after the X dividend date for the first time in 6 months. This is breaking a pattern of post payout weakness. Why might we be seeing this? Well, if you don't know what it is, it's Micro Strategy's perpetual preferred stock. It's called Stretch.”

“Presently, we're in experimentation. So I'll give you a deeper look into that. 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 going we're doing a number of operational tests to to secure and protect networks using the Bitcoin Bitcoin protocol.”

“I have the rockets now. Number one, because if you lose this series to if you lose this series to this Lakers team, you gotta be kidding me. Honestly, you gotta be kidding me. That would be just one of the dumbest playoff losses I could remember. Your 41 year old LeBron, Luke Kennard, who anybody coulda had, Marcus Smart hitting corner threes, Jackson Hayes is out there. I I just can't believe it.”

“You can watch the ETF inflow numbers in real time using coin glass or a slew of different platforms to find this information. This is how I position myself right before the end of the day window when the hammer drops and you are already sitting there waiting for the predictable bid.”

“And then, of course, in 2026, we have a sharp increase in global energy, oil and natural gas prices due to the hostilities in the Middle East and the closure of the Strait of Hormuz. And so certainly that is a non-monetary policy shock this year.”

“It's only when Yoshitsune is 20, so this is in the year 1180, that at last we get real historical certainty. Because this is the year when he emerges from this kind of obscurity that he's been veiled throughout his youth, to join his half-brother, Yoritomo, who is now the head of the Minamoto clan. And this is a very dramatic moment because the two half-brothers have never met before. And it happens in the most iconic place, possibly in the whole of Japan in the shadow of Mount Fuji.”

“The spurs when he gets concussed on the night that he is given the defensive player of the year award and it looked bad immediately was not great. And I don't know in, in football, the concussion protocol is like at least a week. I who knows with basketball, he's definitely not gonna be in game three, but maybe he comes back for game four. But at the very least, Portland steals one.”

“Historically, in order to reduce core inflation by multiple percentage points, you need a deep recession. I believe there are some very prominent economists who said to get inflation down to the 2s, you’re going to need 6% unemployment. And of course, through the end of 2024, that had not happened. Inflation had fallen, I think it bottomed at 2.4%.”

“We saw that Russia is adopting cryptocurrency. It is going to happen on July 1st. And so, we got a couple months and exporters will gain a legal path to accept Bitcoin and stable coins from buyers cut off from Western banking. And so, this is particularly aimed at Russian businesses. This isn't for the average Joe, you know, trying to maybe trade on a DAX.”

“So I think the story in the US in 2025, to some extent, was tariffs pushing up the price of goods. And that was offset by a decline in services inflation. And then, of course, in 2026, we have a sharp increase in global energy, oil and natural gas prices due to the hostilities in the Middle East and the closure of the Strait of Hormuz.”

“The US Navy now restricting the movement of ships in and out of the Strait Of Hormuz, part of a blockade of Iranian ports announced by president Trump Sunday after peace talks with Iran produced no agreement. Iran has remained defiant, saying it will not surrender to threats from The US.”

“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.”

“Powerful move looms for Bitcoin's price says the Ballinger bands indicator and is saying they've reached the tightest point ever on the monthly frame. I don't want to get into the whole article here because most basically just posting this tightest Bitcoin monthly Ballinger band squeeze ever. You can see it right here on the bottom part. This measures the the narrowness of this gap.”

“I attribute most of that to higher-term premium that bond markets require to hold sovereign bonds. During my time at the Treasury, even before the pandemic, when the Pal FED was hiking rates, I think 10-year Treasury yields peaked at around 3 percent, and they're now running, of course, in the mid-4s, and indeed, they've been averaging, I think, four and a quarter for the last several years.”

“Consumer prices rose 3.3 percent year over year in March. That is the biggest increase we've seen since 2024. If inflation continues to climb, the Fed may have to respond by raising rates, which would only add more strain. With all eyes on the labor market, we thought it was a great time to bring in our resident labor market expert.”

“One of his favorite things to watch was an anime adaptation of Anne of Green Gables. She was an outsider just like him. And he noticed other things. Like in the school scenes, the boys and girls weren't separated. They were together, sitting side by side, interacting with each other. He wished his school was like that. So much so, that before going to sleep at night, he would imagine himself sitting in that classroom.”

“The Tyra have control over Kyoto, the great imperial capital. They have the imperial family under their thumb, and they had expelled the Minamoto pretty much from the kind of civilised centre of Japan. And they have all been disbursed to the barbarous northeastern stretches of Japan. They also control the inland sea, which kind of lies between western Honshu and the two islands south of it. So the the Taira basically rule the waves, right?”

“They don't kill the revolution, they schedule it, they tame it, and they turn the most chaotic asset in history into something that trades like a utility stock. This is what happens when the establishment finally gets its hands on the market.”

“I don't know why Houston didn't trade for him. I don't get it. They thought they're they were good with the team. Like, they like having Van Vliet around. Van Vliet can't play till next year. Like, worst case scenario, you could just opt out of his contract. You can resign him. But it's weird to me that they didn't do anything, and the email clearly doesn't trust Reed Shepherd.”

“And while we can make up some of that gap, because countries and companies have stockpiles, we can sort of like massage it a little bit here and there for the moment. The longer this situation goes on, the longer the tankers can't make it out of the Strait of Hormuz, the longer that 10% will continue compounding. And the longer that the supply disruption will end up rippling through the global economy.”

“I cannot call it hopeful. It was out of desperation. I was waiting for that moment. I know, hearing those missiles nearby, it can be horrible. But I think this is the cost of getting rid of this regime. And we have to pay it. I'm still hoping. I'm still hoping. I hope that the US and Israeli militaries will accomplish what protests couldn't.”

“I think that the proof of power and the soft war approach to this, the write up from Jason Lowry years ago was completely under reported. And people just don't care about this concept until it's too late, until Bitcoin is literally being used to harden government infrastructure and data. And then it's well out of reach of the average person.”

“Publicly, they're saying, we will not join the blockade. Well, what does that mean? I will not put my ships next to your ships, so I won't join the blockade. But what was interesting, Britain and France through NATO said, we are working on an initiative to open the strait. Pat, that's what they said. You know what that initiative is? Negotiating behind the scenes with the United States.”

“Democratic California congressman Eric Swalwell and Texas Republican Tony Gonzalez are stepping down from their house seats, both bowing to pressure to leave congress or face expulsion following sexual misconduct allegations.”

“He urged the Iranian people to rise up against the government. 'Now is the time to seize control of your destiny and to unleash the prosperous and glorious future that is close within your reach. This is the moment for action. Do not let it pass.' But then bombs started to fall. People did not rise up. And so I wondered, what did Iranians think of this new war and the president's call to action?”

“Zandi, I think hit the nail right on the head. Layoffs are the biggest concern. What we're seeing in the labor market is a slowdown of the gears. If workers go from job to job to unemployment to job again, mobility is everything for workers. Layoffs would just dump enough workers into unemployment in a labor market that's already slowly churning, and it could lead to a terrible recession quite quickly.”

“Iran's supreme leader, Ayatollah Ali Khamenei, had just been killed in an airstrike. Many of the people I spoke with were critical of the regime, like the vast majority of Iranians. Their spirits seemed high. Many of those people were grieving. But others were angry and pledged to fight against the American and Israeli invaders. One Iranian who supported the regime said he heard people chanting death to Trump.”

“The Iranian government had effectively cut off the country from the rest of the world. The number I kept seeing was 99%. 99% of Iranians who normally had access to the internet now didn't. I was trying to reach the remaining 1%. These would be people with workarounds like VPNs or enough money to afford satellite communications like Starlink that could get them online for even just a few minutes.”

“The US naval blockade on Iranian ports took effect April 13 at 10AM eastern after peace talks in Islamabad collapsed over the weekend according to NPR. As a reminder, rough estimates, 12,000,000 barrels per day normally transit the straight, and now that is going to roughly zero. Trump warned Iran's fast attack ships if any ships come anywhere close to our blockade, they will be immediately eliminated.”

“So year-over-year inflation through the CPI index, which is a broad measurement of inflation, is up 3.3% from a year ago. And the Federal Reserve uses 2% as a target for where it wants inflation to be. Even before the war with Iran started, inflation was above that target level. And what we have now is an energy shock that is sending gasoline and diesel prices on one of their steepest climbs in decades, if not ever.”

“Why Trump and Bessent are pushing stablecoins, and what it all means for Bitcoin. Jeff argues we're already living through the collapse of the post-war financial order, the petrodollar is dying, oil is being traded in yuan, gold, and Bitcoin for the first time since the 1970s, and the US is entering a new era of yield curve control and structural inflation. We get into his three burners framework.”

“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.'”

“Humberto says his biggest concern is the fact that a bag of Doritos right now is seven bucks. And I said, look, I mean, all this other substrate of Hormuz blockade, you know, gold, Bitcoin, who cares? Doritos is seven bucks, guys. We have to talk about it.”

“And now they put the IRGC in a vice. It's a damned if you do, damned if you don't vice. They have two choices. They can escalate. Right now, they've enjoyed calm and peace for the last two weeks. They've seen their families. They're starting to formulate a picture of what the future might look like. They're glad that they don't have bombs raining down their head.”

“The defendant is alleged to having traveled across state lines with the intent to both target an individual and a major technology company. This was not spontaneous. This was planned, targeted, and extremely serious.”

“The petrodollar is dying, oil is being traded in yuan, gold, and Bitcoin for the first time since the 1970s, and the US is entering a new era of yield curve control and structural inflation. We get into his three burners framework, why he thinks we're in World War III, the coming civil unrest from AI-driven job displacement, why Trump and Bessent are pushing stablecoins, and what it all means for Bitcoin.”

“Between 3 to 4 p.m. I noticed algorithmic buying and algorithmic dumping at the exact same time window. You now have something like so-called smart money that never wanted you to have. A perfect visibility. You know exactly when the big boys have to start buying.”

“Wall Street has to show up and buy. Or if you see massive outflows, they have to sell. This is a trader expose that I wanted to give to you. I've been looking at this for months, and now you know what to do with it.”

“One data point, one jobs report does not make or break the labor market. What's more concerning for me is that the economy shed jobs in four months of last year. And in fact, we've seen these numbers keep on getting revised down. It's hard to tell how close we are to that point and if we're actually approaching it, but the gears of the labor market have clearly slowed.”

“Folks, this is what happens when the establishment finally gets its hands on the revolution. They don't kill it, they schedule it, they tame it, and they turn the most chaotic asset in history into something that trades like a utility stock.”