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Hey, hey, sovereign wealth builders. Simon Dixon here and welcome to another episode of Simon Dixon Hard Talk Live. I'm still on the move and if you've been following me on X, you may have seen a few of my tweets and interviews that I did. And I've been doing a bit of a roadshow on the podcast side. But today I'm going to be covering did the Iran war just save the AI bubble? We're going to be connecting all of the dots of whatever, everything we've been discussing over the last few weeks in Part one. Now I'm going to be discussing the AI bubble, what it actually means, Deep Seek, the China attack vector and the new global order that was set up at the Shanghai meeting. Now we've had a bit of time to reflect in Part two. I'm going to be discussing that and testing my ideas from an interview that I did on BTC sessions with a panel, and that was Dave Cullum, which I've did a panel with before on BTC sessions. But we discussed the possibility of a bond stock and commodity collapse all at once and how that might happen. And we're going to be going over to that in Part two today. So let's jump right in with Part one. So this week we started to see the theater continue in the Iran war side. The Iran war Peace MOU is allegedly about to be signed. Not about to be signed. About to be signed. Not about to be signed. About to be signed. Not about to be signed. You can see that they're playing for time. And my thesis that I've been covering is that this was all around the timing of the Xi Jinping meeting, which we'll review a bit more today. And I've covered in previous episodes and I believe the MoU has already been signed and this is about timing it. And last week I put forward the thesis. This is to coincide with the liquidity needs of the AI bubble and the SpaceX IPO that's coming up. But the Iran Peace MOU is getting more and more details. It was leaked as, as, as if it were already signed. But everyone's getting their narrative now. Remember, I've always discussed when I worked in investment banking, when you're doing a big deal, you'd actually draft what people could say in the sequence of events, when you tell staff, when you don't tell staff, and what you're allowed to say, what you're not allowed to say. I believe we're going through that theatrics in order to have preservation of the order In Iran, Israel and America that's needed in order to get this off ramps, reset the world order. The crisis is guaranteed from what's happened already. But all of the contracts and repricing events that have been negotiated and the concentration of wealth upwards to the asset holder anyway, the Iran peace mou, whether it's signed, whether it isn't, it's going to be signed. In investment banking, the way a deal normally works is you have a letter of intent, you then go and do some execution, you then sign a memorandum of understanding, make sure you're all on the same page and then the lawyers get involved and you write down all the different terms and it comes into hundreds of pages of every single thing that can go wrong with milestones. If you achieve this in 30 days, 60 days, 90 days a year, 2 year, 5 years, 20 years, whatever it may be, and you know, guarantees ratchet clauses where you get penalized for not doing it, that's how it typically works. We're at the MoU stage of this as well. But at the same time I'm going to be going through as well the China US reset. Now that we've had a couple of weeks since the Beijing meeting. I also want to go through the AI Capex boom and what the numbers are telling us because now the SpaceX IPO and the Narrative and the S1 and the SEC filing has come out. So I've given it a bit of a review and I want to remind you of the long term thesis of what I was talking about when Deep Sea came out with the challenging AI economics which rug pulled the whole narrative and led to the biggest correction. I think it was Nvidia, if I remember correctly, had like a $600 billion correction when deep Sea came out. But they've ignored the narrative. So we're going to be reminding people of what potentially can come up. And the key question is, is the whole world being reorganized to support the largest AI investment bubble in history? And the answer to that I've been covering for a long time, so if you're a long term listener, you would have known that I said everything that's happening in the Middle east is a reorientation around nuclear energy, not nuclear weapons. Nuclear weapons is the public facing weapons of mass destruction narrative. It's really about energy and it's moving to a multipolar world. And it's not the, the, you know, it's not in, it's not that the west is not, is in a genuine war, it's that the financial industrial complex is Reorientating it. And the military industrial complex needs compensating in revenue before they move over to central South America and Europe as their next escalation cycle. And we're starting to see all those narratives play out. So we're starting to see the MOU and the wind down of the Middle Eastern forever war model with still a narrative that this could escalate to World War 3, even though China could wipe out the US military industrial complex by stop exporting rare earth minerals. And now they're running out of weapons and they just don't simply have the capacity. So we know it's all BS and that's why we got the theatrics of the Beijing meeting. But we're starting to get a real ratchet up of the narrative around NATO, which is just a sell strategy for the military industrial complex, which is a stock market stimulus. So Trump doesn't want to end it because that's the compensation strategy for the mic. But we started to see, you know, I think probably a false flag from Ukraine in Romania, we saw that before in Poland, so it's nothing new there. But slowly trying to, you know, just justify the military budgets that are needed. And now that we've had the regime change in Hungary, they can, the European Union is able to put those sanctions on the west bank in Israel and also unlock the Ukraine money so that they can spend it in the military stimulus check and keep the war going with Russia for as long as possible. And that's what I think we're really seeing here right now. So we're seeing a mick tick and FIC military industrial complex, financial industrial complex, technical industrial complex stimulus which is creating this really, really big investment bubble in the stocks. So the Iran peace deal and why the timing matters. I've already hinted that and covered in previous episodes, but we've got the Iran MoU details. And as I always said, it's not about ideology, it's not about religion, it's not about saving women, it's not about exporting democracy, it's not about any of those things. It's about money, resources, world order. It's about energy, it's about the Petro Yuan petrodollar, it's about commodity pricing. And so the end of the war framework has now been released to us. It involves the Strait of Hormuz reopening and the market reflected that. We had oil prices come down a bit. It also had details around naval de escalation. So the US opening up and Iran agreeing not to. So that unlocks the insurance contracts for once this MOU is signed and we progress to the next stage. It also included US troop withdrawal. Remember what I said, my long term thesis over the years that the U.S. is going to be exited from, from Middle east and Middle east will gradually become West Asia and therefore Israel is no longer needed to destabilize the region. So Israel gets regime change and rebranded. After we push Israel through privatization and acquisition into the gcc, the Gulf corridor and we push Iran into the China corridor and then eventually you get the removal of sanctions. You then get the holdout clause with Saudi Arabia. You get a good cop bad co op argument between UAE and Saudi Arabia. Saudi says we won't normalize until there is a Palestinian state. The Palestinian state gets institutionally built into the GCC framework, potentially via the border peace. And then Trump gets his exit narrative and you enter into a new negotiation cycle where slowly the Gulf countries and China Belt and Road Initiative and the FIC renegotiate the, the defense agreements and it gets rebuilt as West Asia in partnership with the fic MIC and tick, setting up a multipolar world global structure via India, via uae, via Singapore and other nodes in the network. So as part of that you need sanctions relief. When you get sanctions relief, you got 2 to 4 million barrels of oil come online. Then you need to determine how you're going to price them. Are they going to be priced in the Chinese yuan, Are they going to be priced in bitcoin, Are they going to be priced in the petrodollar? And in the end you have an architecture where China normalizes between the GCC and Iran. They have energy corridors that support China's needs into this AI takeover, as it were, that we're experiencing. You have the data center build out and then the fic MIC and tick, they privatize asset, strip the west and shrink it into a regional power. And Trump is installed by the FIC in order to deconstruct everything that propped up the dollar and exported its global terrorism all around the world via economic hitmen, CIA, MI6 and Mossad. But anyway, in order to get there you need sanctions relief. So then Iran becomes an important node in the petrodollar, Petro, you know the, the Petro Yuan and even the bitcoin alternative rails that are built by doing nuclear bitcoin mining and accepting toll booths and all of those, that type of stuff. Saudi is still important. There's only 35 million of them. They've got the cheapest oil in the world, $2 to $10. America's like $40 per barrel. And so nothing competes with that. And you know, America needs to feed 350 million people. And now they're exporting. Even though they're dependent upon Mexico and Canada for their diesel imports, they've been taking advantage. The big oil and energy companies have been exporting that boosts the stock market, boost gdp, creates an inflation cycle, wipes out the middle class, wipes out the poor. And wealth concentrates upwards as those that only assets, you know, concentrates that wealth upwards. And we've even seen a big tick node. Peter Thiel, he's just bought a house in Argentina. He set up his children to go to school in Argentina. And you know, and that was because he was in California. California is about to potentially introduce a wealth tax. I've always said, remember previously that a wealth tax means that they're asset stripping for billionaires, not against billionaires. You know, you have a left wing government installed. Their job is to make you still believe in politics. They're going to look after the poor people. The right wing get to point to it because California was about to go to shit anyway. They're going to asset strip it. They're going to use this fiscal dominance cycle to do that. And then they get to say the reason it went to shit is because you installed communism. You have the capitalism communism, radical left, far right, all the BS to distract you from the reality that the financial industrial complex is using wealth tax in order to create a migration of millionaires and billionaires out of the country. Leave the people that don't have much wealth to pay the wealth tax. That leads to a decrease in tax revenue. It gives the left a narrative. We're taxing the billionaires. And then by design, all of the assets are then acquired by the fact that corporate companies can acquire and circumvent the wealth tax. And so it gives an advantage to institutional ownership over individual ownership. And then institutions basically make billionaires wealthier. And so when Peter Thiel is telling you follow the money California is going to ship and that's the end of game is always those wealth tax exit taxes. And then you get that exodus that is needed in order to manufacture the corporate takeover of the state. Okay, so sanctions relief do that. Apparently there's a $300 billion reconstruction proposal. This is just a way of saying, Mick, you know, fic, gcc, Sovereign Wealth Fund, China Belt and Road Initiative can invest in some of the rebuild the devil's in the detail. It may be that there's just like some reparations I Doubt it. It will actually be some kind of contract that creates an acceptable narrative to Iran narrative while having foreign direct investment, which means that you lock the industry together in normalization between the GCC and Iran and through the petro Yuan and petrodollar you're able to normalize that region. And then you have UAE as the global financial center which is creating a network of central bank digital currencies that plug it all together, circumvent swift, get access to the FX swap lines of the Federal Reserve so they can create dollars with in the Federal Reserve system and then they leave OPEC which propped up the petrodollar and move towards a BRICS energy agreement in line with West Asia and sit in the middle. So you've got the keynotes, you've got Iran, you've got Saudi Arabia, you got uae. They all perform a different function and this is transitioning and giving everyone the exit narrative that they need. Now why markets care that we need to do this now? It is because there is a wave of liquidity that is needed in the stock market to invest in the capex of all of this AI. In order to do that you need to temporarily leading up to this, get oil prices down so that you can then have energy costs down, which is the key input of artificial intelligence. Oil falls and that's been happening ever since the market has determined that this is coming to an end no matter what theatrics we get. Then you may get some kind of demand destruction or future inflation fall which is also met with productivity gains of AI where humans are being laid off, which gives more profits to the large corporate, which makes everything more productive, which boosts the share price and then the stock options cash in for the executives and everyone else is just a collateralized debt obligation on some kind of ubi, cbdc, central bank, digital currency or stablecoin wherever you are. But you can get inflation to fall, so we'll have to keep an eye on that. But the most important thing is the Fed controls the whole game. So the long term bond market is the bondholders. And so if you want, when the yields are going up, which indicates inflation, the only way to get them back down is for the Fed to purchase the bonds. And if they want to get the short term interest rate down, then they can control the Fed funds rate. And so you have handed over the whole game to the Fed. So all of the MAGA narrative of we're taking on the Fed, we're taking that no, you've handed the whole game over to the Fed. The entire market is dependent upon whether the Fed cuts rates or whether the Fed increases its balance sheet. If it wants to take down America and transition to multipolarity, it can do the opposite of what it needs to do. It can increase rates and it's got the inflation narrative that's needed. And it can decrease its balance sheet, which it probably won't do unless it wanted to end it abruptly. Or it can do a managed transition into multipolarity by getting the mix of QE and then potentially doing nothing with rates. Or it could do the crack up boom where it increases the balance sheet through QE and decreases the short rates and just turns America into an emerging market for just the wealthy where everything gets asset strips and concentrated. Or it can do a combination of the three. So the whole game is handed over to the Fed courtesy of the Trump administration. And that is by design because I've always said he's a FIC agent, he's not a neocon, he needs to compensate the military with some war. But he's not a neocon. He wants a deal. And the reason he wants a deal is because he wants to asset strip the country. He wants all his Middle Eastern deals that have been back door negotiated with Saudi, with Qatar, with UAE and, and Kuwait and everything. But it's the asset stripping phase. He doesn't want, you know, destruction forever war because there's more money to be made in the regional stability. And plus he's a puppet for fic and FIC includes the Gulf sovereign wealth funds and China as well. So anyway energy costs fall so we can get a bit of relief there potentially. And that helps the AI data center economics improve and the profitability can look better. They can try. But at the moment, the narrative is so far away from any kind of reality at the moment that this may be where they go and where they take it. But we'll keep reviewing. So the real question is is did peace arrive just in time to support AI infra infrastructure expansion? And I think that's why we're getting the back and forth right now. And that's why the MOU required signing up to Abraham Accords and then Abraham Accord set off new negotiation cycle. But you need to leave Lebanon because Israel, it needs to be strategically weakened into the fic and Lebanon and Hezbollah need to kick off a political integration process, much like happened with the Houthis in Yemen and Hamas in Gaza. And, and then there's also Iraq to settle moving forward into regional stability. So the AI arms race narrative is what you'd expect to really take the focus. So the media kind of just like do you remember when we were all being told that we're killing our grandmas if we don't inject ourselves with poison? And then suddenly the death counter stopped on the TV and we were all told, oh, we all need to save democracy with Ukraine. And we were all being told why we need to send all our money over to Ukraine. And people were crossing the borders to save the Ukrainians, to save the free world and democracy while they asset stripped all the people and got you to be the soldiers. And it was revealed that they will America the, the FIC will use the, you know, this war to the last Ukrainian. And so you expect the narrative to change now. So eventually we're going to get this MOU and it's going to be all eyes on what's happening in Russia and Ukraine again. So we're going through that cycle, that's the next one. And of course the AI arms race, which is China will win for national security. We must put data centers in space so that we can create satellites and data centers that control the entire world. With China. So they're doing the it's US versus China while they're building the infrastructure with China. And so this will be the largest capital build out in history. Trillions and trillions of dollars. And so who are the current winners of that? Well, you can see that in the valuation of the stocks. Nvidia is one of them, Broadcom is one of them. TSMC in Taiwan, so that's on the American side with Broadcom and Nvidia. Tsmc, the Taiwan Semiconductor Manufacturing Corporation in Taiwan, Samsung and tx, Kynex as well, the South Korean parts of the ecosystem. That's why if you notice there was a bit of a squeeze on South Korea, Taiwan and also Netherlands is another vital part of that because you've also got Macron and sorry, Micron, don't confuse it with the French minister. And Trump did a boost this week to push it astronomical pump just like he did with Dell as well into Micron being another trillion dollar company in a vital part of the AI ecosystem which also goes into the, you know, the tsm, the, the infrastructure in Netherlands as well. So you got, and you notice that you get your wealth tax in Netherlands, you get the energy squeeze in Taiwan and South Korea and then you get all of the vital parts of the AI ecosystem that is going to be built by the FIC and tick in America and the CCP in China. And of course you've Got the players that have the revenue to acquire any of the companies if they're going to manufacture some kind of dump cycle to companies like OpenAI and Anthropic that may not necessarily have the revenue. And of course they're all integrated into the Oracle ecosystem, feeding the data chain of Palantir and and all the different AI ecosystem that's building off each other. So you got Microsoft as part of that Alphabet, which is Google, Apple Meta, Tesla, OpenAI, Anthropic and now SpaceX. So the Magnificent 7 becomes approximately the Magnificent 11 or 12 or something like that. And it's eating up the S and P, the entire S and P. So the economy now is the ancillary services around AI and robotics. That's the entire world, the entire economy. Because AI requires what? Power. Power requires every form of energy. Notice how the club of Rome narrative of climate change has just disappeared suddenly we don't care about that anymore. Now it's all about that national security to build out renewable energy grilled with infrastructure that's built in China, across Europe and across everywhere as a result of the closure of the Strait of Hormuz. So we'll get a massive boost in the renewable energy build out as well as the pricing of oil and a transition to LNG and electricity and then every form of energy that's that's needed to power this, including the depths of space. So AI also requires chips and those chips require components, whether they be rare earth, whether it be cobalt from Congo via Rwanda by funding M23 in order to steal it and end up back in western companies or over to China, whether it be AI requiring the cooling as well. So we'll get tokenization of water humans competing with AI for water in these cooling infrastructure that's needed. This is one of the reasons why when I built a bitcoin mining operation in 2013 to build a bond from Iceland, it was backed by volcano power electricity and it was cooled by the natural climate of Iceland. And we built the first ever bitcoin mining backed bond at banks of the future. It's paying daily dividends and it was powered by volcano energy and geothermal efficient cooling. And so these cool environments Greenland become interesting propositions as well as well as locking up the western hemisphere as well. So I also requires vast amounts of infrastructure. And as I've said that was all the growth, all the growth in America was AI infrastructure. So building out the AI and robotics economy flip the entire world chessboard on its head because nothing stops this train. So this is the biggest infrastructure Build out since the electrification of the world. You know, we are truly an unprecedented time. And so to, to, to celebrate that, because the timing needs to be right, there is a huge liquidity need for all of these IPOs that Goldman Sachs are floating right now. So SpaceX did their S1 filing and to understand the size of the market, let me pull out some of the, the different stats that I thought were pretty interesting. So they did an analysis in the SpaceX S1 filing of the total addressable market. So this tells you, is this really a space company or is this a global surveillance infrastructure that's being built? Well, let's have a look. So of the valuation, the total addressable market that SpaceX is coming over is firstly the space economy. So how much is that? Well, they said that the space economy is worth 370 billion. So that's like charging to go up to space what you would think SpaceX does. Well then you look at what is the second largest total addressable market is connectivity, I. E. Starlink. They think they can make $1.6 trillion through Starlink, which is global Internet connection into the AI algorithm and data and ability to control globally. The third largest contributor is this little item line that they call AI infrastructure. Okay, well how big is that? They said the AI infrastructure is $26.5 trillion. $26.5 trillion. This is not a space company, this is an AI company. And in order to get that, they want $22.7 trillion on enterprise AI. So that's turning every company into an AI and robotics machine, which means replacing their employees while they're building out, you know, as Elon calls universal high income. There's no longer universal basic income this time they're actually going to want you to have money. Apparently not wages that are decreasing at the rate, at a, at a, at a, you know, decreasing relative to inflation, which is the model of control. We're meant to believe that this time they're doing it because they want to create a utopia. But anyway, now what is it that they need to achieve? What is the underlying assumption? The underlying assumption is putting AI data centers in space. And so that sets up the next military industrial complex, AI arms race narrative, space wars. So it's the new cold war to justify mix next revenue stream. And so all narrative will be around that. That's the next narrative, the next pump and dump cycle. And so in order to achieve it, we have to reprice all energy. We have to figure out cooling infrastructure and your job. You know, we, we need to even think about sovereignty? What about how are you going to what's the sovereign state of space? Do you think this might be about tax arbitrage? Do you think this might be about people being able to create a company in the moon, on the moon or in space in servers? As these wealth taxes leave the plebs behind while they acquire all the companies in a space incorporated tax shelter so that they can acquire all the assets on the one global control grid that requires both China and the FIC and the tick to build it. Or do you reckon it might be regulation arbitrage? Do you think that has something to do it? Do you think that's why the FIC is transitioning away from America right now? Because they're hedging their risks and finding multi polar jurisdictions to build the one global control grid? So my question is, who has tax jurisdiction over artificial intelligence and compute in orbit? We will keep answering that question. And so let's have a look at what happened, what we've seen since the last couple of weeks since China. So let's do the China reality check at the moment. So Trump's Beijing visit, what were the key points that we covered? This wasn't diplomacy. As I said, you don't go to China in order to start a negotiation. You bring the FIC tick and certain parts of the mic because there's a bit of friction there to meet the ccp and they give a photographic moment to signal to the rest of the world what the new world order looks like. And it involves Xi Jinping on a higher chair with Trump on a lower chair walking through the the with children flying children's flags on a red carpet with the executives behind Xi Jinping and really Trump subordinate to those executives. That is the symbology of the world order. So Trump is a gateway to real power, which is fic mic and tickets with Xi Jinping saying, if you want to play our game, you have to do it on our terms. And reason why the executives were there is because they needed to check that their supply chain is still intact. Elon needs to know, please, China, are you going to give us our rare earth minerals? Are you going to allow us to continue making Teslas so that you can build your factories with the brain train into BYD and accelerate above that. It was Tim Cook saying, please, please, China, can we please continue to make Apple iPhones? We'll put a little bit of money in the really expensive part of building some data centers in America. But please, please, please do not disrupt any of the supply chains. Visa and MasterCard were saying please China, please China can you give access to some of your payment rails so that we can charge fees because we can't control the Chinese payment system but we do want to charge some fees in building bridges around the world in a multipolar world into the Chinese payment system. And please, please, please, we know that you're not going to give up your capital controls. We know that FIT can't penetrate China. But will he let us at least make money all around the world into this new multipolar fixed structures that we're, that we're building. And so the players were Elon Space, Teslas, Xai X social credit scores. It was Jensen Huang from Nvidia. And remember what happened prior to the meeting? Taiwan, America prior to the meeting Trump announced that they will they it went really under the radar but the 13 billion dollar contract, defense contract for the mick in Taiwan was canceled. He also lifts the sanctions on Nvidia chips and China said no, everyone focus on Huawei chips. Tin Cook was there from Apple, Goldman Sachs, you know, was there discussing probably please, please, please China, how much of the voting rights do we need to give you in order to invest in the SpaceX IPO and the Anthropic IPO and please go and please keep buying some oil from the Gulf countries because we need them to have some voting rights as well. And what mechanisms are you going to use in order to gain some board seats? Please, please, please, please buy more equities so that you get more control foreign direct investment and the returns go to China and into the multipolar world rather than staying in America. And we'll keep increasing the liquidity but just don't sell our bonds, don't sell any of the bonds. Do it slowly. We'll manage this transition. We'll do it in an orderly fashion. The bond yields are over 5% on the 30 year and 4 1/2% on the 10 year. Don't worry, the Fed will regime change the Fed. We put Kevin Walsh in, he's connected with the Lauda family. And don't worry, we'll make sure that we manage this together. Don't worry, we're the shareholders in the Fed anyway. The banks own the Fed and of course BlackRock, you know, will make sure that the ETF fund, the funds are flowing. Visa, MasterCard were there, quantcom. Com was there, Geo GE Aerospace was there. And the discussions were really essentially what China wanted. And China just said one thing, Taiwan's off limits. Taiwan's completely off limit. And so Trump went back and said, yeah, Taiwan, no independence. Let's not talk about Taiwan anymore. We need, you know, we got some weapons to create and we need China to help us create them. And it was all about technology. So they said, you can get that. You leave at layoff Taiwan, we'll give you some technology access. You know, America can give some more technology assets. We'll allow. We'll build our factories there. Our big companies will make sure that we can use your manufacturing base. And yeah, we understand China's rules. You effectively get to brain drain and build an alternative factory. But just let us carry on. We'll just, you know, carry on. As long as we can print some more debt, we can get people to subscribe. Now if they can't afford it, we'll give them a loan in order to buy a charger. We'll keep the credit cards going. We'll put them on 50 year mortgages. Don't worry, we'll turn them into 50 year debt slaves so that they keep buying. But please, maybe let us have some of the China market so that your people purchase some of our stuff. Maybe you carry on with the Belt and Road initiative. You know, those Africans, they're having children. Why don't you build them up so they can start consuming some of the products? Why don't you do that in Southeast Asia as well? Maybe we could do some of that in Middle east, in regional stability. Don't worry, it will be called Middle East. But it's West Asia, it's your territory. Iran's blowing up our bases right now. The Gulf countries are going to be investing in the rebuild. You'll get to invest in some of the rebuild as well. Don't worry, we'll shrink back to a regional power. It's right. I got a coalition, you know, it's called maga. They're going to think here's the scam. Yeah, they're going to think I'm trying to make America great again while we just strip all the assets and transition the world to multipolarity. You know what the funniest thing about this scam is? They actually think that I came over to the Strait of Hormuz because I wanted to choke China when you already had $1.6 billion of reserves. And they actually thought we were in a trade war. They thought I was trying to make America great again. When really I got you all to negotiate into a multipolar world. Because, you know, Larry Fink's here and Gorman's is here and, and I'm making bank. I'M making sure. Did you see my World Liberty financial scam? Did you see my Trump token scam? I managed to even get them to buy a stable coin. I managed to get them to buy a stable coin which was backed by funding from uae. And don't worry, your guy Binance, I gave him a pardon as well. Don't worry, he's over in uae. Binance is now located over there. And. But, but people think I'm creating crypto capital. They don't even know that we're building the police and surveillance state for the technical industrial complex. But don't worry, they'll keep wearing those red flags, make America great again. They'll be like, I just need to sacrifice a bit more, take on a bit more debt. I know I can't afford anything, but Trump's my man. He's making America great. He's taking on the deep state. He's taking down the finances in. He's taken on, he's taken on the cabal. Though most people have figured that one's not true. But there's still a cult following that will allow it to continue for a bit more. Now all you need to do is, okay, here's what we'll do. We'll open up the straight for Moose. Shipments can go through. You signed, you've signed the MoU and we'll give you a final Hollywood movie. Maybe do a bit of escalate to de escalate. We're right into the contract how you make it look like a victory that's acceptable to MAGA and, and then just go, go get those, those that, that's those ipo, pump the market and build out your partner of the robotics and data centers and AI as well. So this is effectively exactly what US Corporate America wanted. China said leave Taiwan. US Corporate America got what they needed. And the two centralized powers, FIC and oak, that controls Tick and Mick FIC and China, we'll build out the whole narrative that's needed. But the rare earths, we control them. The manufacturing, we control it. The supply chains, we control it. The consumer market, let's figure out how that one works. But we might give you a little bit of our market. So what is the takeaway? The tariff war basically exited at this moment because the supply chains won. And that was by design. It's not through stupidity. It's not because Trump is a rogue actor. It's by design. And so it was always. And that's why if you go back to my blog before the tariff war, I was saying 04-02-2025 is Dollar Liberation Day. Bankrupting small businesses in America because they import and they pay the tax. It will concentrate export dependent country companies up to transnational capital and it will drive everyone into negotiating towards brics as Trump shrinks America into a regional power and an asset strips everything into the stock market, loads up on debt and sacrifices the world reserve currency in the process. This is just economics, not the economics. They want you to know the economics. That's just obvious. And so as we always knew by design, now what else have we got? We know from the event I told you about earlier with Deep Seek, the deep sea can burst the AI story. And maybe we get a second round two to remind people because it seems like everyone's forgotten the story. The market is pricing that it doesn't remember the Deep Seat story and it's really pricing. This whole AI bubble is based upon compute scarcity buying the supply chains from Nvidia that require Taiwan and South Korea and Netherlands in order to get through that supply chain. And so it's not the actual AI profit. So remember that what I said, markets now are a function of three things. Money printing, that's the Fed, that's the bondholders, the banks, ETFs, that's the asset managers, that's black blackrock, passive inflows and media control. And so rather than talking about price to earnings ratios or profits or anything, you just talk about narrative. And so that's what's happened. Everything is about compute scarcity, that everyone needs this compute scarcity. AI is changing the world. But what did deep seat prove? Let's remind ourselves. It basically proved that there are frontier models and that they are far lower compute needs and they require significantly lower capital requirements. We seem to have forgot that. And, and so if it's true that Deep SEQ and the frontier models require far lower compute and lower capital, whether you believe the numbers or narrative or not that came out from that, then Nvidia basically assumptions break. So the entire model of the backbone of this break. Now I'm not saying that they can't push this narrative for a while. I'm not telling you to trade this or anything you do you. I think there's a lot more to go in this but people seem to just. That's why we know this is correctly framed as a bubble like the Internet bubble because the assumptions are incorrect and we know that we're going to be moving towards ever more efficiency of this. So is this capex the right model? You know this is all built upon the hyperscaler assumption. Can we will it? Does it break the hyperscaler assumption? This is the semiconductor assumption. Could it break the semiconductor and hyperscaler assumption that this entire thing is built upon? So the question is, is compute really the moat? And if it isn't, then this is a bubble. Not that AI and robotics ain't going to change anything, but that could lead to a real pump and dump cycle alongside the other things. Now, when we do in part two, I'm gonna go. I went through. I got asked this question in the interview on BTC Sessions by Nathan with Dave Column, and I talked about China having three structural rug pulls. And in part two, we'll go through those. This is one of them. And then there's another two in the commodity market. This, this is the stock market one, and then the bond market as well. And so this is a semiconductor bubble. And that means that if this frontier assumption is true, then Nvidia is overvalued. AMD is overvalued. Broadcom is overvalued. TSMC is overvalued. ASML is overvalued. Micron is overvalued. Samsung is overvalued. Ski, Ski. Sk. What am I trying to say, sk? Hynix is overvalued. And the market is pricing as if these are, you know what the price that we're getting right now is because, and only because they are strategic assets. And it's not because there is a cyclical semiconductor super cycle. And so that means that the rug pool exists if they want to use it. Now, whether they will use it or not is an interesting thing, which implies to me that this is the leverage that China and the FIC have constructed over the West. And that's why I'm pretty sure that they went to Beijing to lock in the two centralizing powers that are building out this AI control surveillance grids. And so what is propping up the bubble? What keeps it going? I'm not saying it's about to burst. I'm saying that it is propped up by several pillars. One index flows. And so with SpaceX, the argument was, can we value it over a trillion and can we get that included in the indexes so that we get access to the passive flows from day one, unprecedented, never happened. Pillar two is narrative. And so you'll see all the billionaires right now on the podcast circuit saying, the AI arms race, if we don't do something, China is going to win space. All that stuff, hyping people up, hyping people up. That's the, the, the narrative in pillar two. Pillar three is government policy. And so you know, you got to, you got to make sure that deregulation. And so we're getting deregulation. Nothing stops this train. If we regulate, then China will do it. And that's true. I'm not saying it's not true. All of these are true, which is why it's a checkmate. This is hook, line and sinker. This is, you have to lean into the AI stuff in order to be productive, as does your company. You need to be building stuff with AI, but you need to be building a sovereign strategy on the side, spending less than you earn, investing the difference in bitcoin and self custody, whether it be gold, if that floats your boat. And you have a choice, you either use this opportunity to accumulate bitcoin at cheaper rates because the liquidity is being sucked out into AI and you try and value your wealth in bitcoin and end up with more bitcoin through this cycle, or you lean into this and you're a capital allocator and you're able to always have your capital deployed in the best thing, very hard game. Most people get it wrong, but you're using that in order to exit the system with your returns. Either's right for you. Eva might be right for you, but then you need to fend off the deep sea attack, you know, which is attacking basically pillar two, which is the narrative. So China can attack the narrative whenever it needs to. With another deep seat moment. Maybe we'll get another one. Maybe they're preparing the next announcement to coincide with the IPOs. And that's the coordination. That's the coordination. So there's going to be a coming API IPO wave very much like the dot com cycle. And we're starting to get. Remember Michael Barry? He was the guy in the Big Short. He's been mourning for a while. I don't think he's quite got his head around the geopolitical significance of this and the, the bailout side, but he's been given the warning. And he was the one that led everyone up to predicting the financial crisis in 2008 and put on the Big Short narrative where he made a chunk of his wealth. And so the potential mega IPOs that we got coming up, and in fact they are coming up, we got SpaceX, we've got open IO, we got anthropic. And there is really a comparison to the dot com. And if anyone remembers my history, it was the dot com boom and bust cycle that got me into this in the first place. I've been on this for 25 years and it was when my father lost all of his money in the dot com boom and bust cycle. He fell for the narrative, he put everything in, he went from rags and lost everything. And he came to me one day after losing everything and said son, what happened to my Money? And for 25 years I've said about answering that question, very fortunately I was able to look after him because in answering that question took me in the journey that I've been on and got the experience in banking, realized that brokerage was a sales strategy and narrative strategy. When I worked in market making, it was all about market manipulation for the fic. When I worked in corporate finance and investment banking, it was all about turning businesses into securities and making them subordinate through debt cycles so that you can get them, you can get leverage over them and make them complicit to FIC structures. Then I went into not for Profit and started working on banking reform. That's when I discovered all the politicians are owned by the fic. Then I tried to create a bank and realized that the bank of England was a mechanism for capture. Tried to create a fraction, a non fractional reserve bank and realized that they would force me to build it on top of Barclays so that they could have fractional reserves on our non fractional reserves. Then that took me to pivoting the business bank to the future. Writing the first published book in the world to include Bitcoin and pivoting the business in order to invest in many of the bitcoin companies. After speaking at the first bitcoin conference in the world. Then I saw all of those 100 companies, the ones that survived became subordinate to FIC, whether it be Coinbase, Robinhood Circle, Kraken, Bitfinex, you know, they, they all became subordinate to the Bower structure. And then I ended up selling my business to Coinbase and now they're using that brokerage in order to build tokenized securities. And Brian Armstrong met with his FIC Larry Fink. And then now they're trying to tokenize everything invested in a company called Securitize in order to try and build securities out the system. That's when I learned that the regulators capture them into the system and now they're building bonds on tokenized bonds for BlackRock, one of the largest liquidity. So everything I share, I don't share it from a conspiracy theory, I share it from experience. And that's why I exited the market and and then said about trying to give content to help people understand how to be sovereign try to help several countries whether it be Islaman, uk, El Salvador build Bitcoin sovereign strategies to different degrees had to deal with in El Salvador the attack vectors of the imf. That's another story I have to tell. One day with Islaman the Bank of England contacted the Isle of Man government and said if you follow this bitcoin strategy we'll take away clearing to your banking system. That end of that one met Boris Johnson in uk, gave him a bitcoin strategy. He plagiarized it into rather than the bank to the future campaign that was named for company Bus to the Future. That's when we had to chase us out of the country. Then I had to reincorporate and came and moved to Hong Kong discovered the jurisdictional arbitrage other understood how global wealth and how the wealthy do it and, and, and just you know, so everything I'm sharing, I'm, I'm sharing from direct experience. People call me a conspiracy theorist. But anyway, in 2000 that took me on a bit of a tangent. There was about 446 IPOs, Michael Barry was, Barry was warning against and they raised about 108 billion. Let's get this together. So 446 IPOs raised 108 billion. What are we doing today? We're potentially facilitating trillions in valuation on day one right into index funds. So the question is could these IPOs become liquidity drains? And we're starting to see that in the bitcoin market. We're to starting which is why it's able to if you value your wealth in bitcoin, you get to buy Bitcoin cheaper at these fiat currency valuations. Or are they liquidity craters now? I don't know the answer to this question. This could be. I think they're going to do fiscal dominance. I think they need a big print narrative which means I think they need to manufacture a crisis. And so could this be a liquidity drain that to buy the news or sell the rumor event and the Fed kicks in to transition the world to multipolarity or are they assets stripping further? They're going to do fiscal dominance. They're going to get the QE to increase their, sorry, the Fed to increase their balance sheet and they're going to, you know, create more and more liquidity. I tend to favor the second but I, I got to be honest, don't trade about on any of this stuff. I think it's going to be really, really interesting. But it's Kind of like what Trump did with Trump Token, right? Remember he launched a token and squeezed all the liquidity out of the meme coin and shitcoin market and just killed the market through a liquidity squeeze. That's how you get everything concentrated. That's a pretty good example as well. And, and that's how you get the global control grids. You every, every policy in Trump has concentrated power, whether it be Department of Government Efficiency, get all the data into Palantir and act. Whether it be the tariff wars, concentrate wealth upwards, remember Operation Warp Speed, massive concentration of wealth. Whether it be the Epstein files to expose parts of the system but not expose fic. Or whether it be the closure of the Strait of Hormuz to engineer a crisis in order to make massive rebuild contracts for fic. Compensate Mick and take us towards a tick police and surveillance state. But anyway, it's pushing everything together, concentrating wealth upwards with a MAGA narrative on top of it. So what are the required components for this control grid anyway? Well, it's artificial intelligence, which requires OpenAI to go public. Anthropic to go public is compute, which is Nvidia, TSMC is energy, which is the LNG companies, which is Golden Pass, which is Cheniere Energy, Chevron, Exxon. It's nuclear power as well. So there's a nuclear narrative in the, in, you know, they're dressing it up as nuclear weapons and there's a solar part to it which is 90, 95% dominated by China as well. There's a battery side of it that's a China story. That's where the African, you know, leaning into the Belt and Road initiative and unwinding the IMF and saying, no, we'll hold our components and we'll build the batteries. You build the factories here, which is a game changer for Africa. I really look forward to seeing how many countries can do that as well. But those are all China stories. Electric vehicles, that's a China story as well. A little bit in Turkey, which is interesting. And connectivity. So that's the starlink side that needs. And then you've got the space side which is SpaceX. The AI side which is Palantir, Police and surveillance state, all the government contracts. And then you need payments, which is Visa, MasterCard, stablecoins, central bank, digital currencies and BlackRock's tokenize everything. You need the data, you need the AI. And the core thesis here is that effectively AI, energy, payments, connectivity and space are all converging into a single global control grid. That is the thick tick private Interest with China Wall street is driving you into bitcoin custody as well. And so we had Strategy, we had 21 Capital, we had Nakamoto. What are they doing? They're taking in the case of Adam back, wrapping a developer into a Wall street wrapper. There was the Epstein operation to invest in Blockstream. There was the other side, the alternative. The alternative narratives. If you haven't seen my on Simon Dixon.com There was a couple of blogs. I did the truth about the Epstein files and Bitcoin. You got to get the nuance there because the open source side is really important no matter how many attack vectors there. I also did a blog on was Bitcoin hijacked? In response to those that are claiming that the version of Bitcoin is the Epstein version and the alternative is a better, I mean stupid, just ridiculous stuff. But check out those blogs if you really want to understand it. But you know Wall street is driving you into bitcoin custody. They're then wrapping strike into Bitcoin backed loans into a Wall street wrapper funded by tether liquidity. What else are they doing? They're taking the bitcoin conferences, Bitcoin media companies, Bitcoin magazine via David Bailey, wrapping it up into Nakamoto into a Wall street pump and dump. And then Michael Saylor's launching products that rely upon institutional Wall street fic money in both debt, equity and prefs in order to build out the bitcoin derivative complex so that they can manipulate the short term price of Bitcoin to get you to put as much Bitcoin in custody so that you can borrow against it, so they can margin call you, so that they can get you to gamble and leverage and hand over all your bitcoin to them, knowing that the long term fixed supply of bitcoin on a distributed supercomputer that no government can take down on open source code that has continually tried to be infiltrated but always resists with competing implementations with 25,000 people running nodes that enforce the rules and the ability to maintain Bitcoin in self custody because not only do we want it if we can use it, but elites want it as well. And so for all of those reasons they want you to hand it over to them knowing that that's the escape valve. Just like Peter Thiel was escaping to Argentina using jurisdictional arbitrage and was part of the Epstein operations to try and confuse you into an alternative version of Bitcoin. As I covered in those stories, they're trying to make you sell your bitcoin through these, these price action cycles. Your job, if you believe in the long term story, you can do all this with gold. If you don't, I believe for many reasons that you need the ability to transport away from an oppressive country when you need to. But the, the that by suppressing price action as long as you value your wealth in Bitcoin, you get more Bitcoin for your, for your currency. And they know the game is patience because they know the level name will be 21 million Bitcoin. And that's why the Bitcoin strategic reserve is not the US government buying bitcoin. It's the US government confiscating as much Bitcoin as it can for the fic. And strategy is the vehicle for centralizing as much of it as possible as well as the Blackrock ETFs. So anyway they want you to leverage it through loans and, and perps is a new thing, the hyperscalers or the, sorry the, the hyper liquids I think it is. So they're just trying to turn everyone into degenerate gamblers as well so that you can get wiped out fast with this price manipulation. And you know, because they know it's a neutral reserve asset for the individual and they're trying so you know, I'm no fan of centralizing it in governments and companies, but you can't stop it. Bitcoin's for everybody. And so we just need a core community of people that hold it in self custody and take advantage of the sovereign nature as well. And nothing stops that train as well. And so what are they doing anyway? Well, they're building the outside AI bubble which is the control grid. And we fight back with sovereign individuals, sovereign companies, sovereign countries. And so you know, this is outside of politics. They want you distracted with left and right. They want you distracted with everything they can. Immigrants, Communists, Muslims, Jews, whatever they can throw at you. They'll distract you with it to say that that's the enemy because they don't want you to see a fake and that you actually get to vote with your money. And one thing I did do is I did an interview with Tom Blue on impact Theory and I revealed there how you break the system. And if you haven't watched that, maybe we'll do an airing of it next week. But if you want to watch it in the meantime, it's up on the Impact Theory channel at the moment. And so if the AI bubble or the AI trades is the largest bubble in history, where does capital rotate when it breaks? Does it rotate into crashing bitcoin with it and then you get significantly cheaper bitcoin or does it rotate into bitcoin as it has with previous crashes? The point is we don't care because I'm not encouraging you to time market own more bitcoin this month than the previous month. You don't care about price. When it goes down, you get more. When it goes up, you get more fiat purchasing power to take on the FIC with your money. And you vote with your money. So anyway, let me just do some final closing predictions before we move into the Dave column interview on BTC sessions. So anyway, prediction one, no surprise here. I think the Iran deal progresses. I think they've already signed. You might get escalate to de escalate another round of theater moving over to Abraham Accords and Lebanon will be used to set up the next bits of negotiations to keep the theater going. But that's the next negotiation cycle. I think Iran's gonna sign a deal and then it goes into all the things that we covered earlier in the show. I also believe that leads into the regime change in Israel narrative through the political process. But you'll get a ultra Zionist far right probably to appease the voters. Maybe not far right, maybe more centrist to appease the voters, but behind the scenes there'll be a GCC puppet to privatize Israel and allow for acquisition into Abraham Accords if it happens. Which will then lead to a Palestine through Saudi through the holdout clause and then that will lead to eventually over the years ahead, an Arab majority through the regime change that happened in European Union. You'll start to see more sanctions on West Bank. You'll start to see Jews rule the world, Israel rules the world. As the blame shift as well as not answering the question of who controls Israel, you know, who's the Israeli lobby that controls Israel, which is all the value goes back to Mick and, and yeah, and eventually we'll have I think an Arab majority Palestine and it will be in the Gulf, the Gulf, the GCC grids as well. It won't be everything we want. It won't be justice. But I think it will be better than what it is. Prediction 2 what have we got? China, US define. It's basically the, you know, the defonte, let's say uh, continues and so those are the two centralizing power and the narrative will really ratchet up. We may get that, you know, that other deep seek moment. Let's see whether that comes. Prediction 3. SpaceX IPO and arms race. That narrative is going to intensify like crazy to solve the liquidity. And I think they'll time the strategic announcements around the opening up of the straight for Moose around Goldman Sachs's requirements. Prediction four, what I said before, we'll get that deep steak style, you know, style efficiency breakthrough continue and maybe they're leading up to another version that does something significant and they'll time that around, you know, any type of correction in the market that's needed that may lead to the big print narrative. Prediction five is that the AI CapEx expansion basically is going to diverge further and further away from the AI profitability reality. So the amount that they're spending on CapEx is going to divide further and further and further to the profitability reality until you're paying for like 10, 20 years of income into these valuations so the insiders get those maximum valuations. So the final question is, are we witnessing the birth of a new technological super cycle or the final liquidity fueled bubble and is that going to burst before a major, major market repricing? I actually don't know the answer, but I believe that both are going to happen. I just can't time it for you. But we'll keep covering it as it happens. They've set up both stories so they can maximize. Remember how the FIC works. It sets up both stories, it profits from both stories and it uses derivatives and hedging in order to extract fees no matter what happens, which is the concentration of wealth outputs. But, but I think that I'm moving further and further towards that. This bubble has got a lot further to go. With that in mind, let's move over to part two, which is my interview on BTC sessions with Dave Collum. We were discussing whether the three structural rug pulls. My idea that I was saying that could be implemented if we wanted a major correction event. And that is how you would engineer a stock commodity and bond market crash all in one go. So always remember you're alive at one of the craziest, most interesting, exciting, terrifying times in financial history. Some are going to do well, others are going to do really badly. I want you to be on the right side of the chain. So I give you the best thinking that I got. So hopefully you can make this transition more peacefully, be more sovereign and then you can help as many people yourself, psychologically, your family, your community and we can fight this centralizing force with decentralizing force. And the last thing they want is a bunch of wealthy people outside the system that are working on decentralization. Which is why they're trying to get as much of you to give your Bitcoin to them. Enjoy the interview, and I'll see you this time next week. Peace.