Former U.S. National Security Advisor John Bolton has been indicted by a federal grand jury in Maryland on eight counts of “transmission of national defense information” and ten counts of “retention of national defense information,” according to CNN. Prosecutors allege that Bolton shared “over a thousand pages of information detailing his daily activities” with two unauthorized individuals — his wife and daughter — through a series of emails formatted as “diary entries” sent via AOL.

Bolton is reportedly preparing to surrender to federal authorities in Greenbelt, Maryland, as early as Friday. His case has been assigned to Judge Theodore D. Chuang, appointed by President Barack Obama in 2014.

Bolton becomes the third political opponent of President Trump to face indictment in the past two months, following former FBI Director James Comey and New York Attorney General Letitia James.

*The feedback loop is simple:

Markets rise → Public confidence holds → Political risk premiums fall → Markets rise again.

…for a while I thought that the stock market was just ignoring politics. But it isn’t! It is politics now, a political actor that can grant or withhold legitimacy. Artificial intelligence fuels valuations, those valuations stabilize public confidence, that confidence grants the administration power, and the administration protects the system that sustains it.

…Viktor Shvets sees a cycle - tech is ripping apart society (apparently a good investment) so people are buying gold as a “hedge against destruction”.

…AI is extraordinarily expensive but still searching for demand: Training frontier models will likely cost billions of dollars. But only a small fraction of people pay for these services.

…AI was sold as the end of slop but what it delivered was more slop. The market rewards attention, not utility, and both AI and politics has adapted to that logic.

…The equity market believes the AI story overrides everything else. The gold market believes something is fundamentally breaking. They’re both reacting to the same underlying reality, but they just have different theories about what happens next.

…Gold trades on fear of the system. AI trades on faith in the story.*

AI Is the Market, and the Market Is the Government, Kyla Scanlon

Well Millei sold us on thinking that he was the next Hayek who was going to "afuera" all the wasteful spending and use Austrian economics principles to restore the Argentine economy, seems like he is more of an MMT-er than an Austrian.

The problem is that he still claims to be an Austrian economist and quotes Rothbard, Hayek etc while still leaning on Keynesian logic. Sure inflation dipped, definitely will give him that, but I don’t think it dipped because of an economic boom

From the outside looking in, it seems that Millei is a fraud, from an Austrian economist standpoint at least. Of course people from Argentina would have a better understanding of what’s happening on the ground and I could be wrong, but everything from continuing to borrow from IMF, central bank still not shut down, peso’s continual decline to the recent bailout by Uncle Sam, seem to partially substantiate my claim.

NEW: Ledger is phasing out the Ledger Nano S, the best-selling crypto hardware wallet in history.

They caution that ongoing support for the Nano S is not guaranteed and are urging users to upgrade, requiring them to re-enter their seed phrase into a new device.

This process exposes users to phishing risks. A Ledger data leak has already led to a surge in targeted scams, including fake but official-looking letters sent by mail, prompting users to enter their seed phrase into fraudulent devices.