A worthwhile read.
A new BTC demand driver is emerging.
Our latest research piece from analyst Zack Wainwright examines the rise of perpetual preferred stocks -- another transparent demand driver we can observe for BTC.
He puts their growth in the context of Bitcoin ETPs, examines why they may appeal in a world of expanding fiat and debt, and closes with a comparison to the Pyramids of Giza to illustrate the market's potential scale.
fidelitydigitalassets.com/re…
Arthur Salzer, CFA retweeted
Ugh
Most decaf coffee is made with methylene chloride. It's the solvent that used to be in paint stripper.
The green beans are steamed, then washed in methylene chloride, which pulls out the caffeine and not much else. The beans are steamed again to drive off the solvent and then roasted at over 400F. FDA allows up to 10 parts per million. When a lab tested 24 decaf brands in 2020 it found the solvent in 10 of them at about 0.05 to 0.1 ppm, around 100 times below the limit. The industry calls this the European method.
There are 3 other ways to do it. Ethyl acetate, a solvent that can be made from sugarcane, which the trade calls the natural method. Carbon dioxide under pressure. And the Swiss Water process, which uses hot water and carbon filters and no solvent at all. Peet's says all of its decaf is water process. Starbucks has told reporters most of its decaf is the direct contact method, meaning solvent.
EPA banned most uses of methylene chloride in 2024, but food is FDA's job, so decaf wasn't part of it. A petition to pull it from food has sat at FDA since December 2023. FDA reopened comments on it in May and hasn't decided. If the bag says Swiss Water or water process, no solvent touched it. If the bag says nothing, you don't know.
Arthur Salzer, CFA retweeted
Estimate of 6.3 billion annually for Canada's EU Associate membership.
Carney and the liberals are making Canadian taxpayers EU taxpayers.
Financial analysts and policy observers have modeled a potential total cost based on Norway’s framework. Norway pays roughly €869 million annually for its access to European Economic Area (EEA) cooperation and programs. Because Canada's economy is roughly 4.5 times larger than Norway's, a comparable baseline for wide-scale program integration would translate to nearly €4 billion (approx. C$6.3 billion) annually.
There is no annual fee required for Canada to participate in the Canada-United States-Mexico Agreement (CUSMA)
Arthur Salzer, CFA retweeted
Unlike Trudeau, Carney knows how to game the system enough to hide "the true scale of debt" according to the Parliamentary Budget Officer. Loans are being booked as assets, not expenses, keeping them off the deficit while debt climbs to $1.67 trillion by 2030-31. Interest on the debt will rise to $83 B in 2030-31. #cdnpoli
Great idea! We need a YouTube alternative.
Once again with shotgun takedowns. I've personally gone through this 3 times, and it makes building a business with reliant staff INCREDIBLY difficult and fragile.
@TeamYouTube @YouTube and @YouTubeCreators - please do better.
Hey @elonmusk how about adding YouTube style creator pages, thumbnails, descriptions, playlists, etc to @x?
Arthur Salzer, CFA retweeted
Do you know why young, healthy athletes are getting life-threatening blood clots 5 years after getting the COVID shot?
Because there is no off switch.
Here's a graph showing spike protein antibodies that go down with filtration then come right back up.
@robert65968 @NIHDirector_Jay
Arthur Salzer, CFA retweeted
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*** SEE MY VIDEO - SAVE MY LIFE! ***
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facebook.com/photo/?fbid=137…
Arthur Salzer, CFA retweeted
This is what Carney's Canada looks like.
A woman drives at a man on his way to a peaceful rally. Nearly hits him. Then jumps out of her car and attacks him.
The left calls us the dangerous ones. Watch the video. Tell me who's dangerous.
Carney has divided this country and radicalized his own side. This is the fruit of it.
Canadians never used to behave like this.
We were the polite ones. Disagree at the dinner table, shake hands after. Nobody drove their car at a stranger over politics.
Then Trudeau first then Carney spent the last 11 years calling half the country dangerous. Extremists. A threat to Canada itself.
When the Prime Minister tells you your neighbours are the enemy, don't act surprised when people start treating them like one.
He didn't calm this country down. He lit the match.
Carney keeps saying we live in "a dangerous and divided world."
He's right about the divided part. He just won't admit he's the one dividing it.
He didn't inherit this division. He manufactured it — rally by rally, label by label, calling his own citizens the threat.
The dangerous world isn't out there somewhere. It's the one he built right here.
Why would a leader do this??
Because it works.
A divided country doesn't ask about results. It picks a side. Fear is the easiest turnout machine ever built — scared people vote, and they vote for whoever promises to protect them.
And while everyone's fighting each other, nobody's looking too hard at what he's actually doing. Division is a distraction and a turnout strategy in one package.
Where does this kind of leadership lead us to???
Somewhere ugly.
First it's shouting at rallies. Then it's cars and fists, like that video. Every time a leader calls the other side an existential threat, a few people take him literally.
Keep going down that road and politics stops being a debate and starts being a fight. That's the history of it, every time, everywhere. Nobody gets to ring that bell and control where it ends.
Bingo!
Elon Musk just threw out IQ scores, degrees, and fancy vocabulary in one sentence. His definition of intelligence is brutal and simple: how accurately can you predict what happens next?
Not how fast you read. Not how many books you’ve finished. Not how well you debate. Just — were you right about the future?
Think about it. A chess grandmaster sees 20 moves ahead. A great investor sees where markets go before they get there. A great engineer sees failure points before they fail. They’re not “smart” because of how they performed in school. They’re smart because reality keeps confirming their predictions.
And the same applies to AI. Elon doesn’t care how fluently a model writes or how impressive it sounds. He wants to know: does it get the future right?
By that metric, most of what we call intelligence is just confidence wearing a costume.
Arthur Salzer, CFA retweeted
For most of human history, when a mother could not feed her baby, the baby went to a goat. Then a factory offered to do the goat's job, and you can guess which one is now sold as the scientific choice.
Goat milk is milk. Formula is skimmed milk powder with the fat removed and replaced by palm, rapeseed, coconut and sunflower oil.
Goat milk fat comes in globules smaller than a cow's, with more of the short and medium chain fats a baby burns easily. Formula fat comes out of a refinery.
Goat milk carries cholesterol, because an infant brain is built out of it. Formula carries next to none.
Goat milk carries oligosaccharides, the sugars that feed a baby's gut bacteria, and its profile sits closer to human milk than any other animal's. Formula manufacturers now synthesise a couple of them and print it on the tin as an innovation.
Goat milk is served warm, raw and alive, straight from the animal. Formula is spray dried, sealed, and brought back to life with the kitchen tap.
In 1816 a German physician published a book calling the goat the best wet nurse available. French foundling hospitals kept herds for the purpose and the infants suckled directly from the animal.
In 1816 nobody had a formula industry. Today it turns over about £40 billion a year, and the European Union only re-admitted goat milk as a base for infant formula in 2014, which means it had been banned.
Two centuries of goats and a two hundred million year track record on one side. Fifty years and a seed oil blend on the other.
The one with the seed oils is the one with the word science on the tin.
Arthur Salzer, CFA retweeted
In many ways, taking a vaccine is the most intimate decision a person will make: penetration of one’s skin; a permanent impact on one’s blood and immune system. Silence should *never* be considered consent, even if experts, authorities, or those in power, say otherwise.































