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 #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,