Hey world investors: Global debt is a US$400T asset that is programmed to debase (it is a Fiat contract). #btc is a sub US$1T asset that is programmed as the most secure Store of Value ever created (math + code) Where do you think the smart money will flow? #mathishard

THE "FED PUT" ISN’T A CONSPIRACY. IT’S MATH. The Fed doesn’t really have a put under the stock market. It has one under the debt system. And once you understand why, you understand a lot more about where the dollar is headed, and why many choose to store value in hard assets.

This, my friends, is becoming a problem for the US Treasury.

“Canada Still Thinks It Is Rich. Its Balance Sheet Says Otherwise Canada Is Entering the Fourth Stage of a Sovereign’s Life Cycle (Ray Dalio's) Bridgewater describes five broad stages in the rise and decline of nations. Canada increasingly resembles the fourth stage: a country becoming poorer while still thinking of itself as rich. This is the final phase of leveraging up. Debts rise faster than incomes because society has become accustomed to prosperity. The generations that remember scarcity, depression, war, and financial discipline are gradually disappearing. Those making today’s decisions have known primarily rising asset prices, expanding credit and the assumption that tomorrow will always be wealthier than today. The country continues to spend as though its productive capacity were still growing rapidly. But real income growth slows, productivity weakens, and the cost of living rises. Rather than adjust spending to slower income growth, households and governments: • save less • borrow more • extend repayment periods • tolerate larger deficits • consume capital rather than build it The country may still appear wealthy because its citizens own expensive houses, financial assets and government benefits. Yet underneath the surface, household and public balance sheets steadily deteriorate. 🏠 Asset inflation is mistaken for national prosperity. A million-dollar house does not necessarily mean the country has become more productive. It may simply mean that decades of easier credit have capitalized future income into today’s land prices. Meanwhile, investment shifts away from productive activity and toward existing assets. Less money flows into: • infrastructure • machinery and productive capacity • research and development • transportation • energy systems • new industries More credit flows into: • mortgages • land speculation • government consumption • financial engineering • maintaining inflated asset prices The result is slower productivity growth, weaker competitiveness and declining real living standards. Cities become more congested. Infrastructure ages. Housing becomes unaffordable. Business investment weakens. The trade position deteriorates. The country increasingly relies on its historical reputation, political stability and financial credibility rather than its current productive strength. Canada can still appear rich even as it becomes structurally poorer. That is the danger of the fourth stage: the appearance of wealth remains long after the productive foundations of that wealth have begun to erode. This is also where Bridgewater’s framework meets the Economic LongWave. 🍂 During Economic Autumn, falling interest rates and rising asset values create the illusion that finance itself is producing wealth. ❄️ Economic Winter begins when debts can no longer rise faster than incomes, and the country is forced to confront the difference between paper wealth and productive wealth. Canada’s challenge is not simply excessive debt. It is that decades of borrowing have increasingly supported existing asset prices rather than the creation of new productive capacity. The encouraging point is that decline is not destiny. 🔥 Schumpeter’s Creative Destruction eventually breaks down obsolete institutions, business models and financial structures. 🌱 A new Economic Spring begins when capital is redirected toward productivity, technology, infrastructure, affordable energy and new industries. Canada does not need to become a poor country. But it must stop confusing expensive assets, expanding credit and government spending with genuine national wealth. A country becomes wealthy by what it produces, invents and builds, not by how much debt it can place against yesterday’s assets.

Private credit is cracking where no one's looking. Apollo redemptions hit 16.8% in Q2, capped at 5%. KBRA's default index just matched its all-time high. Marks stay calm as credit rots underneath: leadlagreport.com/p/the-priv…

Bitcoin is a REVOLUTION. It is much more than number go up. It is an invention which can free humankind from the long sad history of monetary debasement, which empowers few and taxes everyone else. In a fiat system the wrong people win. We all pay for it. It is unjust and unfair. Throughout all of human history we never had a monetary standard that did not dilute over time. Now we do. Those of us who are partisans and are fighting for it understand the stakes. Freedom, fairness, prosperity, less war, etc. Unsound money is the issue of our age. Currently few see it, but this will change. This Fourth Turning is well on its way and the monetary issue will be resolved. As I observe the current Bitcoin landscape and the attacks on its leaders i am reminded of the opening of Thomas Paine's second writing, The American Crisis. Written in December 1776 after Washington had gotten his ass kicked on Long Island and retreated from Brooklyn and through New Jersey, Paine wrote: "These are the times that try men's souls. The summer soldier and the sunshine patriot will, in the crisis, shrink from the service of their country: but he that stands by it now, deserves the love and thanks of man and woman. Tyranny, like hell, is not easily conquered; yet we have the consolation with us, that the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem to lightly: it is dearness only that gives everything its value." Sound money has to win. Sound money will win. History will be kind to sound money partisans. This is about a lot more than number go up. Don't forget why we are in this fight. Spread the word. The system they run is evil. We know the antidote. Time is on our side.

Good evening. I’m getting a lot of questions about whether my conviction has been impaired or my thesis has changed about Bitcoin with its recent price weakness. The answer is an emphatic no. Why? Because I like to keep it simple and focus on first principles. While other assets are enjoying the warmth of the hot ball of money, Bitcoin will simply continue to reflect the debasement of all government sponsored currencies over the long run. Nothing more. Nothing less. Hope this helps. Have a great night.

My first post in a long time… God bless Carla and Walker and family. You are wonderful people and I miss our times together. Julie and I have fond memories of the friends we met in the Bitcoin community. Thanks for the repost of walkers tweet @natbrunell Hope to see you all again soon. Fosser.

Bitcoin priced in Gold is still below last cycle's peak. 🤔

I’ve dedicated over a decade to championing workers and wage-earners. Now, 𝐈’𝐦 𝐫𝐮𝐧𝐧𝐢𝐧𝐠 𝐟𝐨𝐫 𝐂𝐚𝐥𝐏𝐄𝐑𝐒 𝐁𝐨𝐚𝐫𝐝 𝐨𝐟 𝐓𝐫𝐮𝐬𝐭𝐞𝐞𝐬 to protect our nation’s largest public pension, serving 2M+ participants!

The USA has more kids playing youth hockey than there are playing youth hockey in Canada (although the numbers are close). However, given the huge size difference in population, it is not surprising that there are more “exceptional athletes” in USA. As more of these athletes find their way into hockey, the power balance will continue to shift. But for now…oh Canada. What a game. Congrats. @jameslavish @usahockey #math.

If that occurs, then rather than potential cost-cutting savings going toward deficit reduction and slowing the train for a couple years, it would keep the train going literally just as fast.

WARNING- don't get hacked on X like @LawrenceLepard did. He'll explain when he gets back. He asked me to let everyone know he'll be at @PubKey in NYC next Tues. from 5-10PM with 100 books to sign. Spread the word please @PrestonPysh @jameslavish @SusieBdds @natbrunell

Fort Knox is about to be audited for the first time since a *partial* audit in 1953, and you're selling Bitcoin under $100K?

Foss it’s so awesome. I tweeted yesterday that I’d send out 10 books to the first responders. Shiiiiit, only had 2 people take me up on it. Help me out here. Just need them to follow me and send me a DM and I will jump on it.

.@LawrenceLepard and “The Big Print” coming in at #1. Congrats friend and biz partner. @BTCOppFund

Good evening. Inflation was not, in fact, and never will be ‘transitory’. Have a great night.

Sending Bitcoin Still Feels Nerve-Wracking? You’re Not Alone. That moment of doubt—“Will it actually arrive?”—is real. But here’s the good news: Bitcoin addresses have built-in safeguards. When I learnt this, it greatly reduced the stress of sending Bitcoin. A Bitcoin address isn’t just a random string of characters—it’s structured to prevent errors. Each address contains three key parts that tell the network where to send your BTC (Image below): 1️⃣ Version Number – Identifies the type of address (Legacy, SegWit, Taproot) and ensures compatibility. 2️⃣ Public Key Hash – A shortened, more secure version of your public key. This acts as the unique identifier that determines the recipient of the funds. 3️⃣ Checksum – A built-in error detector. The last 4-6 characters verify the version number and public key hash to ensure the address is valid. Why This Matters: If you accidentally miss or mistype a character, the checksum catches it—and your wallet shouldn't send the transaction. This built-in safety net prevents you from sending your Bitcoin into the ether. That said.... here are a few pro tips for error-free transactions: ✅ Always copy & paste addresses (never type manually). ✅ Use QR codes whenever possible to avoid manual entry mistakes. ✅ Double-check the first & last 5-6 characters before hitting send. Did this help? Let me know if you have any questions or curiosities!

Bitcoin is a cheat code. Here are 15 #bitcoin websites that are so valuable they feel illegal to know. [updated]

Voltaire said in 1729; All paper money eventually returns to its intrinsic value .....ZERO. #btc over Fiat