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BTC Sessions: Daily Summaries Delivered
by Ben Perrin
Get your dose of Bitcoin with weekly news roundups and "Why Are We Bullish" panel shows featuring Bitcoiners from around the world!
Latest Episodes
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- 2 days ago1h 4m
Everyone Waiting For A Bitcoin Dip Is About To Get Left Behind | James Check
Mentor Sessions Episode 100: James Check breaks down Bitcoin market cycles, on-chain data, the bull market transition, and his end-of-year $100K price target for 2026Bitcoin just flipped from bear to bull and the on-chain data proves it: more than half of all invested wealth is now in profit, up from just 8% at the $58K lows. James Check returns to break down exactly what changed and where the cycle goes next.You'll learn why James called the bottom back in July and what the run from the low $60s to $86K revealed on-chain. You'll see his four-phase market cycle model, how short-term and long-term holder cost basis acts as resistance, and why 90% of ETF buyers were underwater before $8 billion in outflows hit the bottom. You'll also hear his honest end-of-year outlook, his left/mid/right curve scenarios, and why he believes dips will most likely be bought from here.This is a measured, data-first conversation for anyone navigating the transition out of a bear market without getting chopped up.⏱️ Timestamps:0:00 - Intro0:42 - Confirming the Bull Market1:24 - On-Chain Data Reveals Human Emotion1:36 - Price Pain Versus Time Pain Capitulation2:13 - Macro Trends Begin on One-Second Charts3:13 - Two Legs Up and Short Squeezes4:27 - Wealth in Profit Jumps From 8% to 55%5:27 - Bear Market PTSD and Transition6:25 - Will Old Buyers Sell at Break-Even?7:22 - Who Bought Bitcoin at $64K?8:04 - Four Seasons of Holder Behavior9:39 - Volume Rising Across Exchanges10:24 - Anything Missed in the Bear Market?11:42 - ETFs Bought Tops and Sold Bottoms13:07 - How 20% of Coins Drive 55% Drawdowns15:11 - What a True Catastrophic Event Looks Like15:48 - $100K Resistance and Silent IPO18:09 - Why the Next All-Time High Feels Special19:46 - Low-Fee ETF Flows Gaining Traction21:19 - Why Companies Avoid Bitcoin on Balance Sheets23:01 - Housing Markets Push Rotation Into Bitcoin24:00 - Bitcoin Is Not Set and Forget28:18 - Personal Signals Confirming the Bottom30:40 - Testing Fear Versus Greed Titles31:04 - Why Brains Are Wired to Lose Money32:57 - Is the DCA Strategy Still Active?33:46 - Maxing Purchases at $60K40:40 - Bull Market Lines of Defense44:34 - Tracking the Hot Ball of Money53:47 - AI CapEx Compared to Bitcoin Mining59:48 - End-of-Year Price Targets Left Mid Right1:02:47 - Disbelief Rally Remains Alive and Well🔗 Links & Resources:→ James Check's newsletter & Checkonchain charts: https://checkonchain.com→ James X.com: https://x.com/_Checkmatey_🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Case MultiSig & Inheritance: https://casa.io/sessions10% Off First Year Promo Code SESSIONS⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #Bitcoin100K #BTCSessions #JamesCheck #Checkonchain #OnChainData #BitcoinMarketCycle #BitcoinBullMarket #BullMarket #BearMarket #BitcoinAnalysis #BitcoinPrice #BitcoinETF #CostBasis #SelfCustody #Glassnode
- 4 days ago2h 46m
"If Our Entire Economy Depends On Data Centers, We Are F*cked" | Dave Collum
Mentor Sessions Ep 099: Dave Collum on the AI bubble bursting, the bond market at 6%, boomer asset liquidation, and why gold and Bitcoin win as valuations regress.The AI bubble has the life expectancy of a soufflé, the 30-year Treasury is being drawn to 6% like a magnet, and Dave Collum thinks the whole thing reprices within a year. This is the macro conversation most people are too polite to have.In this episode, chemistry professor and macro commentator Dave Collum breaks down why the decades-long credit cycle is over, why the inverse correlation between gold and interest rates is about to break, and why boomer asset liquidation guarantees a repricing no dip-buyer can stop. You'll learn why he calls Jensen Huang's share buybacks a bell-ringing top, why he puts the AI capex build-out on a one-year clock, and why he thinks a rare double bear market in bonds AND equities is teeing up — the setup where 60/40 offers no protection. You'll also hear his contrarian take that AI will make the world worse without destroying civilization, plus his read on Warsh, the Fed, and why gold and Bitcoiners could be the ones left standing.⏱️ Timestamps:0:00 - Intro0:50 - Gold Silver Recent Price Action1:27 - End of the Long Credit Cycle1:49 - Central Bankers Driving Rates to Zero4:50 - Treasury Rates Pulled Toward Six Percent6:32 - Seven Percent Mortgages Housing Trap9:46 - Kevin Warsh Rate Hikes and Collapse11:55 - Economy Needs Real Assets Not Data Centers12:48 - Jensen Huang Nvidia Buyback Signal14:17 - AI Threat to Civilization Examined17:46 - Sneaky Behaviors Observed in AI20:48 - Bitcoin Proof of Work Constrains AI25:59 - Nuclear Risks Middle East Conflict27:47 - Putin Iran Restraint in Geopolitics40:52 - Israel Palestine Historical Context45:11 - Iran Nuclear Strike Questions Raised50:40 - Yen Carry Trade Stability Analysis59:06 - Boomers Driving Boom and Bust59:33 - Median Boomer Retirement Savings Shortfall1:03:19 - Boomer Wealth Transfer Needs Repricing1:08:08 - Lindsay Clancy Case Maternal Tracking2:01:32 - System Collapse Worse Than Historical2:03:16 - AI Bubble in Fifteenth Inning2:04:31 - Market Regression Eighty Five Percent Drop2:36:45 - Nasdaq Rollover Sudden Bid Support2:39:15 - Gamma Squeeze Pushing Markets Higher2:42:07 - Potential Correction Impact on Saylor🔗 Links & Resources→ Dave Collum on X: https://x.com/DavidBCollumIf you want the macro conversations the rest of the space won't touch, this is the show. Subscribe for weekly Bitcoin and macro interviews, and drop your take on Collum's one-year AI clock in the comments.⚡Previous Episode:Jack Mallers: https://youtu.be/LpwGHzUTQ7A🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #MacroEconomics #BondMarket #BTCSessions #DaveCollum #AIbubble #EconomicBubble #TreasuryYields #CreditCycle #BoomerWealth #GeopoliticalRisk #GoldAndBitcoin #MarketCrash #6040Portfolio #SystemicCollapse
- 1 weeks ago1h 21m
Somebody Has To Eat The 40 Trillion Dollar Loss | Jack Mallers
Mentor Sessions Ep 098: Jack Mallers explains monetizing chaos, dollar debasement, the ColdCard incident, El Salvador and why Bitcoin is the most American technology.Jack Mallers argues the entire fiat system forces everyone into speculation whether they know it or not — and Bitcoin is how you take the other side of the chaos. In a wide-ranging sit-down, the Strike CEO breaks down monetizing chaos, the $40 trillion debt bill nobody wants to foot, and why he's never been more bullish.You'll hear why Jack calls debt a form of "time travel" that already spent your future, how the dollar's world-reserve status structurally forces deficits, and why a severe debasement against gold and Bitcoin may be the only mathematical exit for the US balance sheet. You'll get his blunt read on the ColdCard incident and why "open source doesn't mean secure" in the age of AI — the most incentivized person to understand that code base was the attacker. You'll also learn why he thinks 2026 was never a real bull run, why prediction markets are just regulatory arbitrage on sports betting, and what El Salvador got right (and wrong) five years in.⏱️ Timestamps:0:00 - Intro0:48 - Why Jack Is Bullish on Bitcoin1:47 - Monetizing Chaos by Shorting Fiat2:04 - Debt as Time Travel and Future Bills4:43 - Why Public Adoption of Bitcoin Lags5:17 - Strike Growing Despite Bear Market6:21 - Why 2026 Was Not a Real Bull Run7:52 - Why Younger Generations Resist Bitcoin8:44 - Bitcoin as a Massive Wealth Transfer11:26 - Savings Culture Versus Gambling Culture13:07 - Gambling Ads, OnlyFans, and Robot Jobs17:58 - Hunger for Savings Culture Emerging18:10 - Family, Low Time Preference, and Bitcoin21:43 - Robinhood, Meme Coins, and Marginal Speculators24:23 - Prediction Markets as Sports Betting Arbitrage26:52 - Why Self-Custody Efforts Often Fail28:27 - El Salvador Bitcoin Adoption Wins and Losses34:07 - Why Nations Avoid Copying El Salvador38:06 - Bitcoin as America's Most American Tech40:17 - Dollar's Structural Deficit Trap Explained41:12 - China's Gold and Bitcoin Dollar Debasement45:49 - Why Jack Glad Clarity Act Failed47:53 - Fix: End World Reserve Currency Status49:18 - Bitcoin Not Medium of Exchange First55:20 - AI Threat to Open Source Security57:33 - Open Source Alone Does Not Secure1:02:09 - Just Use Bitcoin Core for Security1:08:37 - Jack on Leaving Twenty One and Authenticity1:14:47 - What Strike Is Building Now1:20:04 - Closing Message to BitcoinersGuest: Jack Mallers of Strike🔗 Links & Resources:- Jack Mallers on X: https://x.com/jackmallers- Strike: https://strike.me⚡Previous Episode:Zack Shapiro: https://youtu.be/iZ7e0hY0WL8🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io If this conversation gave you a new way to see the macro picture, join the regulars — subscribe for more long-form Bitcoin interviews and reply with your take on "monetizing chaos." Catch the previous episode with James Lavish and Doomberg linked in the cards.#JackMallers #Bitcoin #BTCSessions #Strike #BTC #BitcoinMacro #DollarDebasement #MonetizingChaos #SoundMoney #BitcoinBearMarket #WorldReserveCurrency #PredictionMarkets #ElSalvadorBitcoin #Coldcard #OpenSourceSecurity #BitcoinCore #LightningNetwork #SelfCustody #TwentyOne
- 1 weeks ago1h 7m
"Four Horsemen Of The Diesel Apocalypse" Are Coming For Europe | Doomberg & Lavish
Mentor Sessions Ep 097: James Lavish and Doomberg break down the 2026 bond market crisis, Europe's diesel shortage, private credit risk, and Bitcoin as a macro asset.Bond yields near 20-year highs, Europe staring down a diesel shortage, and private credit quietly marking its own books — the plumbing of the global financial system is under real strain, and this conversation maps exactly where the pressure is building.James Lavish and Doomberg join BTC Sessions to connect the dots between the bond market, energy, geopolitics, and Bitcoin. You'll learn why the 10-year yield sitting at ~5% signals a structural regime change rather than a passing inflation scare, how private equity and insurance companies are stuffed with self-marked paper that echoes 2007-2008, and why Doomberg calls Europe's diesel situation the "Four Horsemen of the Diesel Apocalypse." You'll see the case that energy — not currency — is the base layer of every market, why nations are now selling Treasuries to buy fuel, and where Bitcoin fits as the "hot ball of money" hunting for the next asymmetric bet. Both guests also share the disciplined, rules-based approach they use to allocate across gold, cash, and Bitcoin without trying to time the market.⏱️ Timestamps:0:00 - Intro0:43 - Bond yields near 20-year highs and global yield melt-up0:57 - Why the 10-year at 5% is a new regime, not a blip3:28 - The death of the 60/40 portfolio5:38 - Doomberg on Grant Williams, Luke Gromen and fiscal dominance9:03 - Hyperscaler debt crowding out long-dated paper10:16 - Echoes of 2007-2008 in private equity and insurance12:19 - The Treasury default nobody will call a default16:38 - How private credit marks its own book20:16 - Every market has its own purpose and structure25:26 - Trezor Safe 7 self-custody segment29:55 - Money is a promissory note on energy30:16 - Private credit, contagion and the mark-to-market catalyst33:16 - Could real estate seize up the credit chain?37:01 - Diesel, WTI and the Four Horsemen of the Diesel Apocalypse42:43 - Why Europe is uniquely exposed44:08 - Germany's nuclear mistake and the EU's fragility47:47 - Why Germany may leave the EU49:04 - Ukraine, Russia and the energy war51:38 - Why bonds aren't seeing a flight to safety53:23 - Bitcoin as the asset chucked overboard, now bid57:03 - Doomberg's rules-based gold, cash and Bitcoin allocation59:40 - Canada, Greenland, Carney and Trump theater1:05:44 - Where to follow James Lavish🔗 Links & Resources:• James Lavish on X: https://x.com/jameslavish• The Informationist newsletter:https://www.jameslavish.com/• Doomberg on Substack: https://newsletter.doomberg.com/⚡Previous Episode:Zack Shapiro: https://youtu.be/iZ7e0hY0WL8🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #BTCSessions #JamesLavish #Doomberg #BondMarket #FiscalDominance #EnergyCrisis #PrivateCredit #DieselShortage #SoundMoney #InterestRates #Treasuries #MoneyPrinting #Europe
- 2 weeks ago57 min
Big Tech Gets AI. BlackRock Gets Bitcoin. You Get Prosecuted | Zack Shapiro
Mentor Sessions Ep 096: Zack Shapiro explains AI existential risk, AI regulation, the Clarity Act, Samurai Wallet, and open source AI policy for Bitcoin.The Clarity Act just failed on the Senate floor, and the fight over whether writing Bitcoin code can be treated as a crime is now heading to 70-year-old federal judges. Zack Shapiro breaks down what that means for self-custody, open source software, and the Samurai Wallet developers still behind bars.In this conversation you'll learn why Zack separates AI existential risk (recursive self-improvement, the orthogonality thesis, instrumental convergence) from the ordinary risks of AI — job displacement, regulatory capture by frontier labs, and cyber attacks like the Cold Card hack. You'll see why he thinks open source AI is not the existential threat, why the Blockchain Regulatory Certainty Act (BRCA) matters more than most Bitcoiners realize, and how the 'two clocks' of AI capability vs enterprise adoption will define the next decade. You'll also get the legal reality behind white hat recovery of hacked Bitcoin, why the liquid hacker is in a bad spot, and what happened when the Clarity Act died on the vine.⏱️ Timestamps:0:00 - Intro0:51 - Amodei, Musk and Altman urge AI slowdown1:38 - Ordinary risks versus existential AI threats2:26 - Politics warping the AI safety debate3:20 - Bostrom, AGI and intelligence explosion risks5:01 - Orthogonality thesis and instrumental convergence5:59 - Hugging Face attack shows AI covering tracks6:58 - No easy policy fixes for AI risks8:08 - Can't stop AI progress or open source China9:32 - Separating x-risk concerns from anti-AI populism12:22 - Regulatory capture and Anthropic IPO timing14:21 - Keeping open source AI legal and available16:39 - Trezor self-custody sponsor read17:43 - One shot parallel between Bitcoin and AI19:37 - Where real AI productivity gains appear20:47 - Two Clocks: capability versus enterprise adoption24:22 - Is AI coming for your job?25:28 - Electrification analogy and 30-year lag28:34 - Jevons Paradox and future of work30:42 - White hat recovery of Cold Card hacked funds34:02 - Legal precedent for white hat bounties36:56 - Why the Liquid hacker faces trouble38:55 - What's actually in the Clarity Act43:46 - Money transmitter law and the Samurai case45:20 - Tornado Cash, FinCEN and frying pan argument47:31 - Why this could ban using Bitcoin49:33 - BRCA criminal protections and court battles53:42 - Clarity Act fails to pass what happened55:24 - Senator Lummis stood on principle56:50 - Where to follow Zack ShapiroGuest: Zack Shapiro — lawyer and AI-native law firm builder covering crypto policy, AI regulation, and Bitcoin legal defense.🔗 Links & Resources:- Zack Shapiro on X: https://x.com/zackbshapiro⚡Previous Episode:Bob Burnett and Nacho Pauls of Ocean: https://youtu.be/1-lvwj4DcJsBrent Johnson: https://youtu.be/UoIwpsOB9O0🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #BTCSessions #ZackShapiro #ClarityAct #BRCA #SelfCustody #SamuraiWallet #ColdCardHack #AIRegulation #AISafety #OpenSourceAI #Superintelligence #BitcoinPolicy #BlackRock
- 3 weeks ago52 min
They Bet Everything On An Existential Crisis | Bob Burnett & Nacho Pauls
Mentor Sessions Ep 095: Bob Burnett and Nacho Pauls of Ocean discuss Bitcoin mining decentralization, the BIP-110 chain split, hash rate flight, and Bitcoin Knots.Bitcoin's first real hard fork just tested mining decentralization for real — and Ocean's hash rate dropped from roughly 40 exahash to 23 before clawing back. Bob Burnett (Barefoot Mining, Ocean chairman) and Nacho Pauls break down what actually happened when the chain split, why rented hash fled while owned hash stayed, and what the loss of Bitcoin Knots means for client diversity going forward.You'll learn why the "template centralization" problem is still the core issue even after BIP-110 was resolved, how a non-KYC pool kept paying miners through the chaos, and why Bob argues Bitcoin needs 3 to 5 competing clients — drawing a direct parallel to how the PC industry standardized USB, PCI, and Bluetooth. You'll also get the honest story behind Ocean's high-profile team departures, who's stepping into the CTO and chairman roles, and why Bob calls the whole episode a "distraction" the community ultimately settled the right way.Whether you run a node, stack sats, or care about who really controls Bitcoin's hash, this is a candid, insider conversation about mining, consensus, and what comes next.⏱️ Timestamps:0:00 - Intro0:41 - Hard Fork Fallout and What Happened1:12 - Have Bob's Decentralization Views Shifted?1:54 - Datum Templates and Decentralization Fix3:25 - Ocean Hash Rate Drops From 40 to 23 EH3:43 - Overcoming Defeatism Among Motivated Miners4:11 - Nacho Explains Why Miners Left Then Returned4:57 - Only Pool That Let Miners Choose6:37 - Owned Hash Rate Versus Rented Hash8:34 - True Cost of 15 EH Rented Hash9:38 - Non-KYC Mining and Unknown Customers10:50 - Why Large Miners Avoid Switching to Ocean13:20 - Ocean's Jump to 30 EH and Path to 10017:23 - Sponsor Break18:50 - Team Drama and Key Departures20:17 - Amicable Split With Departing Founders22:01 - Jason Hughes Becomes CTO and Board Changes23:28 - BIP-110 Debate and Your Hash Your Choice33:15 - Bob's Personal Take on Departures34:13 - Mistake of Treating BIP-110 as Crisis38:39 - Community Consensus and Bitcoin's Strength43:57 - Losing Bitcoin Knots Client Option45:53 - Short Medium and Long Term Client Strategy46:48 - Plea to Core on Extended Version Support47:27 - Why Bitcoin Needs Three to Five Clients48:32 - PC Industry Lessons on USB and PCI Standards51:16 - Where to Follow Nacho and BobGuests mentioned: Bob Burnett (Barefoot Mining, Ocean), Nacho Pauls (Ocean), plus discussion of Luke DeWolf, Jason Hughes, and the Bitcoin Boomers.🔗 Links & Resources:• Ocean: https://ocean.xyz• Bob Burnett on X: https://x.com/Boomer_BTC• Nacho Pauls on X: https://x.com/NachoPauls• BTC Sessions: https://btcsessions.ca⚡Previous Episode:Brent Johnson: https://youtu.be/UoIwpsOB9O0🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #BTCSessions #BitcoinMining #MiningDecentralization #BIP110 #BitcoinKnots #OceanPool #HashRate #BobBurnett #NachoPauls #HardFork #BarefootMining #ProofOfWork #SelfCustody
- 3 weeks ago1h 4m
They’re Not Saving the Republic, They’re Building Fortress North America | Brent Johnson
Mentor Sessions Ep 094: Brent Johnson explains the 2026 dollar outlook, the collapse of the rules-based order, Bessent's Treasury moves, and how AI and stablecoins entrench the US dollar.The rules-based order that kept markets stable for 80 years is dying - and Brent Johnson explains what replaces it, why the US dollar gets STRONGER not weaker, and how AI and stablecoins entrench American power for decades.Brent Johnson (Santiago Capital, Dollar Milkshake Theory) sits down for a wide-ranging conversation on the biggest structural shift in markets since World War Two. You'll learn why he thinks the American Republic could give way to an American empire, why Scott Bessent's Treasury buybacks matter more than the headlines suggest, and how passive management can turn a bond wobble into a full crisis. You'll see why he's concentrated in North America and the Western Hemisphere, why he calls the US-China relationship a "divorce," and why he refuses to bet against the US Treasury even as others call for the dollar's death. He also breaks down why AI is now a matter of national security, why stablecoins are structurally bullish for the dollar, and where Bitcoin fits in the emerging digital-asset order.⏱️ Timestamps:0:00 - Intro1:17 - Iran War and Dollar System Resilience4:10 - Iran Conflict Pressure on Treasury Yields5:41 - Rising Yields Create Global Collateral Strain8:25 - Bessent Long-End Buybacks Explained10:20 - Mike Green on Passive Bond Risks11:48 - Rules-Based Order Has Ended13:39 - Shift to America First Proactive Policy17:31 - Signs the Rules-Based Order Is Dying18:27 - Vance and Rubio Munich Security Speeches21:41 - China Also Wants Strategic Divorce23:26 - Multipolar World or US Remains Dominant24:44 - American Republic Falls Into Empire27:00 - Republic Versus Empire and Authoritarianism31:07 - Positioning Portfolios Amid Geopolitical Chaos33:28 - Building Fortress North America Strategy35:19 - Canada US Relationship Realities39:41 - Energy Trade War Leverage Analysis44:16 - Bessent Druckenmiller Soros Trading Lineage48:51 - Market Outlook Violently Sideways Year End53:01 - AI Now National Security Priority57:02 - AI Short Term Employment Risks58:06 - Stablecoins Strengthen US Dollar Position59:31 - Bitcoin Role Alongside Stablecoins1:01:57 - Global Institutions Must Adapt NextBrent Johnson's written research and weekly show "Milkshakes, Markets and Madness" are at Santiago Capital - links below.🔗 Links & Resources:• Santiago Capital research: https://research.santiagocapital.com/• Brent Johnson on X: https://x.com/SantiagoAuFund⚡Previous Episode:Luke Gromen & Lyn Alden: https://youtu.be/xoAuuJyBg6E🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #AmericanEmpire #FortressNorthAmerica #FortressAmerica #RulesBasedOrder #BrentJohnson #DollarMilkshake #SantiagoCapital #USDollar #USD #ReserveCurrency #TreasuryMarket #Gold #Bitcoin #DigitalAssets #Stablecoins #Geopolitics #Hegemony #China #MacroEconomics #CapitalFlows #Multipolar #ScottBessent #AINationalSecurity #BTCSessions
- 4 weeks ago59 min
"We're Past The Point Of No Return" | Luke Gromen and Lyn Alden
Mentor Sessions 093: Luke Gromen and Lyn Alden explain the 2026 global bond market crisis, private credit risk, yield curve control, and Bitcoin and gold as safe havens.The global bond market is bleeding out in slow motion, and the real danger is buried in private credit that insurance companies can't sell without going insolvent. Luke Gromen and Lyn Alden break down why the long end of the Treasury market is grinding higher, why Scott Bessent intervened before any visible crisis, and what happens when trillion-dollar balance sheets finally hit the sell button.You'll learn why China is the one nation conspicuously absent from the sovereign debt rout, how AI-driven deflation is reshaping Chinese manufacturing, and why Gromen argues the U.S. now faces a "Weimar gold reparations" problem with true interest expense at 105% of receipts. You'll see why both guests believe rate hikes are no longer even a usable tool under fiscal dominance, how a Blackrock "one phone call" scenario could freeze $5 trillion in a crisis, and where Bitcoin and gold fit as bearer assets when markets get locked down. Alden makes the case for holding scarce assets and extra cash through the air pockets; Gromen explains why he trimmed Bitcoin and exactly when he'd aggressively buy it back.⏱️ Timestamps:0:00 - Intro1:12 - Treasury Event or Broader Sovereign Debt Crisis1:34 - Why China Avoids the Global Bond Rout2:00 - Hyperscalers Emerge as New Bond Vigilantes3:41 - Path Leading to Yield Curve Control4:15 - Why Chinese 10-Year Yields Hit Global Lows6:00 - AI Driving Deflation in Chinese Manufacturing10:17 - Orderly Bond Market Grind vs Sensationalized Crash13:43 - The Dog That Didn't Bark in Bessent's Move14:38 - Silent Crisis Brewing in Private Credit15:38 - Insurance Insolvency Risk Triggers Treasury Sales19:01 - Liquidity Versus Solvency in Private Funds27:44 - Will Warsh Raise Rates This Cycle29:43 - True Interest Expense Hits 105% of Receipts33:43 - Rate Hikes Fail Against Fiscal Dominance35:50 - Crack Spreads, Diesel and Physical Bottlenecks37:37 - Wall Street Awakening to Fiscal Dominance40:12 - BlackRock's $5 Trillion Lockdown Scenario41:00 - Past the Point of No Return for Markets45:47 - Non-Linear Reset Versus Slow Economic Spiral50:19 - Physical Constraints in Beef and Refineries54:05 - Gormen Adds Back Bitcoin After Selling57:07 - Lyn Alden on Bitcoin and Gold Outlook🔗 Links & Resources:Lyn Alden: https://www.lynalden.com/Luke Gromen: https://fftt-llc.com/⚡Previous Episodes:Michael Sullivan: https://youtu.be/wp5IYzcThUoTom Luongo: https://youtu.be/zkvdfR7LTuU🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6⚡ Sponsored by Blockstream Jade: Easy, open-source Bitcoin-only cold storage. Get 10% off with code BTCSESSIONS at store.blockstream.com.💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #BTCSessions #Bitcoin #BTC #LukeGromen #LynAlden #BondMarket #Treasury #FederalReserve #InterestRates #YieldCurveControl #PrivateCredit #FiscalDominance #SovereignDebt #USDollar #Inflation #Gold #ChinaEconomy #Japan #MacroFinance #MacroEconomics #BitcoinEducation #BitcoinPodcast #BitcoinInterview #GlobalEconomy
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