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A trader can stay up until 1am and wake up at 3am, drowning in debt, broke, and losing his mind, staring at numbers that took everything from him, yet still believes that the future will be better https://t.co/gdR4ZltSCm
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A trader can stay up until 1am and wake up at 3am, drowning in debt, broke, and losing his mind, staring at numbers that took everything from him, yet still believes that the future will be better https://t.co/gdR4ZltSCm
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EndGame Macro
The groundwork was laid back in October, when China expanded its export control framework on critical materials using licensing as the tool. Silver wasn’t named then, but the message was clear that Beijing was willing to gatekeep strategic inputs. That’s when silver started getting repriced on expectation. The January 1 rules just confirmed what the market had already been leaning into, and that’s why the rally accelerated into December. But by the time silver pushed into the 80s, the story was fully known and fully owned, often with leverage. Once prices stopped going straight up, confidence quietly turned into caution. At that point it wasn’t about whether silver made sense anymore, it was about whether positions could be funded. In thin, year end conditions, that kind of stress turns into fast selling. So in my view this was a positioning and liquidity unwind, not a sudden verdict that the silver story is over.
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The groundwork was laid back in October, when China expanded its export control framework on critical materials using licensing as the tool. Silver wasn’t named then, but the message was clear that Beijing was willing to gatekeep strategic inputs. That’s when silver started getting repriced on expectation. The January 1 rules just confirmed what the market had already been leaning into, and that’s why the rally accelerated into December. But by the time silver pushed into the 80s, the story was fully known and fully owned, often with leverage. Once prices stopped going straight up, confidence quietly turned into caution. At that point it wasn’t about whether silver made sense anymore, it was about whether positions could be funded. In thin, year end conditions, that kind of stress turns into fast selling. So in my view this was a positioning and liquidity unwind, not a sudden verdict that the silver story is over.
Silver is down 9% today, giving up most of Friday’s gains. Yet silver stocks, which barely rose on Friday, have lost all of last week’s gains, despite silver being about 10% above the prior week’s close. Following a 14% silver correction, silver stocks are even better buys now. tweet
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Peter Schiff (@PeterSchiff) on X
Silver is down 9% today, giving up most of Friday’s gains. Yet silver stocks, which barely rose on Friday, have lost all of last week’s gains, despite silver being about 10% above the prior week’s close. Following a 14% silver correction, silver stocks are…
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Crypto summary of 2025
https://t.co/wVqpIC8sYk
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Crypto summary of 2025
https://t.co/wVqpIC8sYk
crypto traders trying to predict the market
https://t.co/KITCvoc6ju tweet
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I know exactly why they didn't choose Nancy for this shot, but I just can't prove it
#StrangerThings5 https://t.co/S9BjOQ5Ca2
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I know exactly why they didn't choose Nancy for this shot, but I just can't prove it
#StrangerThings5 https://t.co/S9BjOQ5Ca2
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Giuliano
Peniel might be the most well-read person I've come across.
Astounding list of books.
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Peniel might be the most well-read person I've come across.
Astounding list of books.
Here are my top ten reads for the year 2025.
1. Make Something Wonderful.
I am struck by how soulful Steve Jobs was, and how little of the book is about business but about why we do things, the reasons bigger than ourselves, that's how he inspired so many. Also gave me the idea to see my work with a magical tinge.
2. Werner Siemens a Brimming spirit. Werner Siemens was an inventor and entrepreneur in the 19th century, Founder of the German company Siemens. His letters quoted throughout the book show a thoughtful, Intelligent, driven, interesting person who wanted to live life fully.
3. Alexander Hamilton By Chernow.
Hamilton was the greatest thing I've ever listened to, being a 19 year old trying to rise up in life through my knowledge. "My Shot" felt like it was written for me. Then I read the book and I fell in love with the man and his times.
4. Whom the Gods Love by Leopold Infeld. If you read through Poor Charlie's Almanac you come across the story of Évariste Galois, who Munger uses as a cautionary tale. He was an absolute genius mathematician, who died at twenty in a duel, I wanted to know why. It changed my life
5. James Watt by Andrew Carnegie. When the richest man in the world at the time writes a biography of another man, I read it. Watt was the genius behind the Industrial Revolution, inventor of the steam engine. It's the most practical book for changing the world, I've ever read
6. The Clockwork Universe.
This book is great. Once in a lifetime experience reading it. It was more last year, but I love it too much. It made all the stuffy scientific figures I never liked in school Hooke, Boyle, Galileo, Newton and others seem human.
7. The War of Art.
This book is why I started blogging and taking creative work seriously. Pressfield held me to a high standard, which I'm nowhere near achieving. Creative work isn't some precious and namby-pamby experience, but it's work, like any other.
8. Oil and Marble.
This novel is beautiful. Stephanie Storey wrote like a Renaissance artist painted, vividly, with bright colors and minute details. Stephanie is passionately in love with Michelangelo and converted me too.
9. An American Saga.
Exceptionally well-written biography. It was by a novelist so he could really write. It follows the story of Juan Trippe and the establishment of the airline industry with the airline Pan Am. It's a monster in detail and I was there for every single one.
10. Surely You're Joking, Mr. Feynman.
It taught me that life is meant to be enjoyed and achievement isn't everything. And the world is beautiful and wonderful in and of itself, and I should seek only to do what is interesting for me and forget about anything else tweet
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EndGame Macro
A 15 Year High in Bankruptcies Tells You Where the Stress Really Is
Bankruptcies rising are rising especially among small businesses and that tells you higher rates are still working their way through the system. A lot of companies survived the last few years on cheap money and extensions. Now refinancing is harder, costs are higher, and the weakest balance sheets are the first to give. The fact that bankruptcy case backlogs are growing is another quiet signal that stress isn’t just happening, it’s lingering.
What this means for the economy
My view is we’re in a slow burn phase, not a clean break and headline GDP isn’t telling the full story. GDP can look okay even when the economy is weakening underneath, especially when a growing share of consumption is tied up in non discretionary costs like healthcare and insurance. That kind of spending props up the numbers but doesn’t signal real economic momentum. Beneath the surface, credit conditions are tightening, failures are rising, and the stress is concentrating where leverage is highest. Stronger firms and higher income households can keep things looking stable for a while, while smaller, rate sensitive businesses quietly fall behind. The risk is a grinding adjustment with tighter lending, slower hiring, and more defaults in areas that can’t refinance indefinitely, like office real estate and floating rate debt. In plain terms, the economy may still be moving, but it’s doing so on a foundation that’s getting weaker, not stronger.
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A 15 Year High in Bankruptcies Tells You Where the Stress Really Is
Bankruptcies rising are rising especially among small businesses and that tells you higher rates are still working their way through the system. A lot of companies survived the last few years on cheap money and extensions. Now refinancing is harder, costs are higher, and the weakest balance sheets are the first to give. The fact that bankruptcy case backlogs are growing is another quiet signal that stress isn’t just happening, it’s lingering.
What this means for the economy
My view is we’re in a slow burn phase, not a clean break and headline GDP isn’t telling the full story. GDP can look okay even when the economy is weakening underneath, especially when a growing share of consumption is tied up in non discretionary costs like healthcare and insurance. That kind of spending props up the numbers but doesn’t signal real economic momentum. Beneath the surface, credit conditions are tightening, failures are rising, and the stress is concentrating where leverage is highest. Stronger firms and higher income households can keep things looking stable for a while, while smaller, rate sensitive businesses quietly fall behind. The risk is a grinding adjustment with tighter lending, slower hiring, and more defaults in areas that can’t refinance indefinitely, like office real estate and floating rate debt. In plain terms, the economy may still be moving, but it’s doing so on a foundation that’s getting weaker, not stronger.
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never lose faith crypto guys, may be the women of your life is not born yet https://t.co/sMFGlm6EZC
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never lose faith crypto guys, may be the women of your life is not born yet https://t.co/sMFGlm6EZC
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