Howell on bitcoin and liquidity, Jay Patel on drawdown psychology, Strategy’s capital moves, Jordi Visser on AI, plus Lightning and agentic AI signals.

PBOC injected $44B via a new overnight repo at 1.25%, 10bps below forecasts, without publishing the rate. Citigroup and Standard Chartered expect LPR cuts as early as July.

The KIDS Act is sold as child safety. The risk is age verification gates for everyone and the outsourcing of parenting to compliance departments.

BPI, Claude Code, and Fable 5 show the AI war is being fought over compute, power, model access, and trust.

Foreign investors pulled ~$57B from Korean equities in May-June. The won is near 17-year lows. Margin calls, NDF feedback loops, and a BOK trap with no clean exit.

2008-level defaults, $670B in liability on ~$4B of real capital, and a K-shaped economy one PE unwind away from collapse. Nick Nemeth on the everything bubble.

AI bubble, blue-collar renaissance, Kevin Warsh's Robin Hood Fed, and socialist wins in New York. Peter St. Onge on what's coming.

57K jobs in June vs. 113K expected. Household survey: -507K employed persons. April and May revised down 74K combined. The soft-landing story has a problem.

Japan spent a record ¥11.73 trillion defending the yen and got nothing. Now Tokyo is trying ambush tactics because the conventional tools are gone.

Legal title, frozen ledgers, and permissioned rails are the control points bitcoin was built to route around.