Free Markets vs Government / Politics
Spent the week attacking Trump and the federal government for corruption and fiscal recklessness. Called for Treasury Secretary Bessent to resign over claiming $5k dividends could be sent without budget impact [1]. Also critiqued Trump's Greenland deal as a public shakedown [2]. Defended himself against criticism over his Puerto Rico bank, arguing the government shut it down purely as a publicity stunt [3]. He blamed corrupt regulators for taking over four years to return deposits [3]. Slammed the White House ballroom renovation as out of touch with average Americans struggling to pay rent [4]. Also noted that Trump is the best ally big-government Democrats have [5].
Euro Pacific Bank & IRS: Argued that his bank was shut down illegally as a favor to the IRS and that the receiver is intentionally delaying deposits to run up fees [3]. When critics pushed back, he maintained the compliance issues were routine and fixed [3].
Trump Critiques: Called Trump's claims about the Greenland deal untrustworthy and argued the public shakedown hurt America's reputation [2]. Also mocked Don Jr.'s claim that Russian oligarch wedding payments were innocent [6].
Bessent & Fiscal Policy: Called for Bessent's resignation over his comments on $5k dividends [1]. Also noted Trump is enabling exploding deficits [5].
Macroeconomics & Fed
Argued the Fed's 25-basis-point hike was purely symbolic and too little to stop the inflation train [7]. He said the Fed was backed into a corner and had to hike to save credibility [8]. Predicted rates are going much higher regardless of Fed action [9]. Also argued that if fighting inflation causes a recession, the Fed will switch to fighting the recession, making inflation worse [10]. Pushed back on claims of economic prosperity, saying inflation creates an illusion of wealth [11]. Also noted that 7% mortgages used to be cheap, and the real problem is the housing bubble [12].
Gold & Precious Metals
Framed gold's $100 morning rise as a no-confidence vote in the Fed, arguing a 5% Treasury yield isn't enough to offset lost purchasing power [13]. Told followers the 10-year Treasury hitting 5% is just a launching pad to 6% and beyond, making the gold selloff a gift to buy [14]. When challenged that rising yields hurt gold, he argued yields will eventually rise together with gold prices [15]. Remained bullish on gold regardless of the Fed's decision [16].
US Fiscal Policy & Debt
Warned the US is on an unsustainable fiscal path [17]. He projected that by 2029, with $50 trillion in debt and 8% interest costs, annual deficits would exceed $5 trillion [18]. Criticized the Trump administration for ballooning deficits [19]. Called out Bessent for claiming $5k dividends wouldn't impact the budget [1].
Also this week
Bitcoin & Crypto (~12%): Argued the SEC's tokenized stock announcement is bearish for Bitcoin, because tokenized stocks offer a superior store of value backed by real companies [20]. Mocked MicroStrategy's $STRC repurchases, saying Apple doesn't have to buy back iPhones [21]. Told Pomp it's clear Bitcoin is worthless without needing an act of Congress [22].
Top conversations
82 replies · 28.7k viewsArgued the Fed was backed into a corner and had to hike rates to save credibility, but still didn't do enough [8]. [8]
78 replies · 31k viewsCalled for Treasury Secretary Bessent to resign over his claim that $5k dividends can be sent without impacting the budget [1]. [1]
69 replies · 41.1k viewsCompared the stock market to Trump's meme coin, arguing Bessent effectively said stock returns are based solely on selling to a greater fool [23]. [23]
Retweets
166.6k viewsRetweeted @zerohedge's article on Ukraine pounding a Moscow refinery and the threat of a global diesel crisis. [24]
157.1k viewsRetweeted @KobeissiLetter's data showing the US deficit is already higher than the full-year FY2025 deficit, calling the fiscal path unsustainable. [17]
99.8k viewsRetweeted @texasrunnerDFW's post mocking the Fed for considering a rate hike into current economic conditions. [25]
17.3k viewsRetweeted @chrismartenson's argument that China's crude oil futures market more accurately prices delivery costs than the West. [26]
7.4k viewsRetweeted @SchiffGold's interview warning that the bond market's day of reckoning is coming as low rates unwind. [27]
Calls
- ▲ LONGGoldLong gold as a hedge against Fed credibility loss and inflation. [13]
- ▼ SHORTUS TreasuriesShort/avoid US Treasuries as they are not risk-free and will lose value to inflation. [14]
- ▲ LONG10-year Treasury yield10-year Treasury yields will rise to 6% and beyond. [14]
- ▼ SHORTBitcoinBitcoin is worthless and the SEC tokenized stock news is bearish. [20]
