Stop setting expectations that bitcoin is going to rise when people find out the gold isn't in Fort Knox. I wouldn't be surprised if the Trump admin makes sure it's filled before going in there to signal economic strength as the world is scrambling for physical gold. Banking on an empty vault for a bitcoin price pump is setting the market up for disappointment. The correct framing is: we shouldn't have to wonder whether or not the gold is in Fort Knox, we should be able to publicly audit the country's reserves 24/7/365 and bitcoin enables that. It is very hard to do that with gold, as the last five decades have proven.

Caught up with @Roberto Rios (Peruvian Bull) to discuss the latest in the world of $GME, what's happening in gold markets, and all of the debt that needs to be rolled over this year. "There's a run on the gold markets in London."

The U.S. is rolling over a $66B 10-year bond from 2015 with a 2.00% coupon into a new 10-year bond at 4.55%. This single rollover adds $1.67B per year in extra interest costs. Debt refinancing at higher rates is just beginning. The real pain is still ahead.

You Can

While DOGE is going to work on cutting waste and corruption out of the federal government one problem remains; the growing amount of government debt.

We're going to win.

The supply of available physical gold at mints and metal exchanges is drying up. People are asking for physical because they don't trust the paper. Let this be a reminder to make sure you are putting bitcoin in self custody and have a secure set up. Don't wait!

Shrink the federal government to its smallest viable size and task the private market with solving these issues. This is pure insanity.

With talk of UAP disclosure, gold repricing, bitcoin strategic reserves and the AI dominance race heating up it's a good time to go back and watch this TFTC rip with @Matthew Pines . We discussed all of these topics and Matthew's takes are aging well.

If we do get a sovereign wealth fund it shouldn’t invest directly in companies. The Trump admin and every admin moving forward should work with the legislator to ensure the US produces consistent surpluses and those surpluses should funnel into neutral assets (bitcoin, gold, oil, etc) that sit in the fund. Getting equity stakes in companies like TikTok and Moderna creates perverse incentives that will lead to incredible abuses of power.

We all knew it was happening but now we have hard proof: the US Federal government has been stealing your money and TIME via taxes and debt expansion and using it to destroy the country. Treason of the highest level. There should be a tax holiday in 2025 and serious conversations about shutting down the IRS. The amount of pain and suffering people have had to endure over the last few decades while getting lambasted by snobby bureaucrats who were lining their pockets while telling everyone they were "spreading democracy and freedom" is incalculable. The greatest heist in human history. Pure evil.

To the young lads currently dismantling USAID and, hopefully, many more corrupt bureaucratic agencies; the doxxing is a sign that the parasites are scared. Blinders. Keep pushing. May God be with you.

Matt McCusker came through the studio and we talked bitcoin, tech addiction, comedy’s role in combating tyranny and much more. Sick rip.

Some big ETH bagholder had their "Fuck it, I'm out" moment yesterday.

People really don’t understand the difficulty adjustment or the incentives that come into play if censorship ever happens. View quoted note →

The mempool clearing isn’t a good or a bad thing. It just “is”. People fear mongering and trying to cast current or past mempool states onto the future (whether it’s completely flooded or completely empty) are short sighted. Usage will ebb and flow and so too will mempools.

The EU is addicted to losing.

Goals. “A 94-year-old woman says goodbye to her husband after 81 years together ...”

THE MEMPOOL WILL CLEAR EVENTUALLY, ALWAYS.

We’re winning. Keep pushing. Never get complacent. Our children will be free.

This should end well.

DeepSeek dropping two days after the Trump, Altman, Ellison and Masa presser was a direct shot across the bow of the US and its plans during this Trump presidency. A lot of capital that has already been allocated is about to be evaporated, but with that incredible opportunities are on the horizon. Individuals and companies need bitcoin now more than ever. A bitcoin treasury is going to be a superpower during this hyper-deflationary time in the tech space.