Episode #185 – ABS Ratings = Milkshake NGU
Episode #185 | Published February 26, 2026 A lender took a pool of bitcoin-collateralized loans, packaged the pool into an asset-backed security, sold roughly $188 million of bonds
Episode #184 – On the Same Page
Two independent research teams arrive at the same conclusion: Bitcoin blocks are quantized time. How K=IC2 reframes the bitcoin thesis through the physics of information, constrain
Episode #183 – Capital in the 22nd Century
A response to the paper Capital in the 22nd Century. The paper argues AI will create permanent techno-feudalism. Its starting assumptions are profoundly wrong. Wealth is not a stoc
Episode #182 – Kabuki Theatre
The financial system is Kabuki Theater. AI content floods the internet while nobody can tell real from fake. Bitcoin bridges physical cost to digital information. The reverse repo,