I would want the amount of sats that I sent. I assume they would not be doing this if the price went down

All eyes are, unsurprisingly, on the US Presidential election. Tomorrow is the big day. I don't want to come off as preachy, however it is pretty clear to me that if you are an American citizen who cares about bitcoin and would like to live under an administration that is eager to embrace the industry as opposed to an administration that is actively hostile toward bitcoin there is only one candidate who deserves your vote; Donald J. Trump. I think he's a better candidate for other reasons, but if you've read this rag for long enough you probably already know what those are. Instead of writing a screed about why I am voting for Trump, let's highlight some things outside of the election that you should be paying attention to this week.

First up, there are two Treasury auctions; $42B of 10-Year notes tomorrow and $25B 30-Year bonds on Wednesday.

It will be interesting to see what the demand for these auctions is and how they affect rates. The long end of the yield curve has been pumping since the Fed's rate cut in the middle of September, which is the market signaling that it does not believe inflation has been appropriately tamed. Yields came down today, but as you can see from the charts things are trending in the wrong direction.

As the Treasury issues new debt at higher rates, the interest expense on that debt, naturally, drifts higher. If the long end of the yield curve doesn't come down aggressively over the course of the next year this is going to be a big problem. There are trillions of dollars worth of Treasury debt that needs the be rolled over in the next few years and it would be advantageous for the Treasury if that debt wasn't being rolled over with yields as high as they are. With the amount of debt the country has accrued in recent decades, every incremental dollar of debt that gets issued and/or rolled over at higher interest rates exacerbates the problem. We are approaching the territory of runaway exponentials, as evidenced by this chart.

The growth slope gets steeper and steeper

This debt problem is the elephant in the room that needs to be addressed as quickly as possible. The national debt hit $1.2T in early 1983. It then took 26 years to 10x from $1.2T to $12T in late 2009 and has only taken another 15 years to triple from there to $36T or 30x from the arbitrary base I picked out (Q1 1983).

With this in mind, keep an eye out for these auctions tomorrow and Wednesday, where rates end at the end of trading on Wednesday, and whether or not we officially push over $36T. Regardless of who wins the election tomorrow, this is a problem that needs to be confronted. Whether or not it can be solved at all is up for debate. I don't see how what can be done to reel in this runaway train at this point. However, at the very least, we should acknowledge that we're in the realm of exponentials and have people prepare accordingly by accumulating hard assets that cannot be debased (bitcoin).

The other thing to pay attention to is the FOMC meeting on Wednesday and the announcement of the results of the meeting on Thursday. Will Jerome and the other Fed board members to keep rates where they are, cut, or raise rates? Raising rates seems to be out of the question despite the fact that many believe it would be the most prudent move considering how the long end of the yield curve reacted to the 50bps cut in September. If they decide to cut rates, by how much will they cut them? Will they slow the pace with a 25bps cut or continue at the 50bps clip established in September?

We'll find toward the end of this week. Don't lose sight of these events while the world is enthralled with the elections in the US.

I don't know about you freaks, but I couldn't feel more fortunate that bitcoin exists at a time like this. Having access to a distributed peer-to-peer digital cash system with a fixed supply during a time of incredible political divisiveness and out-of-control runaway sovereign debt feels like a Godsend.

Stay sane out there.

Final thought...

We're going to win.

PEOPLE WHO DO NOT SELF CUSTODY BITCOIN, THERE IS A NAME FOR THEM, WE CALL THEM POOR.

Yes, just red meat, salt and water. The upcoming podcast will explain why we're doing it and if you're interested let me know, we recently created a group chat on SimpleX and I can send you the invite link. We will also be using the chat to speak about anything low carb, not just the lion diet.

#Kamala #Harris #Woke #Shit #Left #Democrat #Fake #Drunk #Liar #Chicago #DNC

In the next dip, everyone will be panicking when Bitcoin drops to $25,000.

I've been on NOSTR for over a year now and in bitcoin for about 4 years. As a non techie I've tried everything that some of the plebs here talk about. The problem is that I don't understand what this stuff does. Im running my own start9 server, with my personal nostr relay but for some reason it doesn't work. I'm running amber on my burner pixel with grapheneos but I don't know what it does. I'm also running a relay on my pixel with citrine. I don't have a clue what any of this stuff does. All I know how to do is buy and hold btc in a block stream jade and ledger wallets. Im trying to learn it but there's so much here that its overwhelming. I'm semi retired and have plenty of time but for most people that are not where I am I can see how all this would be extremely difficult.

You live in a country where the government has decided that you can only walk backwards.

If you don't walk backwards, you will be sent to prison.

If you complain about walking backwards, you can be sent to prison.

If you share videos of people walking forwards, you will be sent to prison.

If you sing a song or paint something that is suggestive of walking forwards, you will be sent to prison.

How does Nostr help in this situation?

#AskNostr

Central banks and massive pension funds are seeking #Bitcoin exposure. Public companies are ramping up their BTC intake. Public mining companies are now buying too.

This is an incredibly bullish setup.

Plan accordingly.

What’s your most popular opinion?

Both Biden and Trump are kind of retarded. We have known this for a long time.

During the debate, Biden’s age issues became unmasked. And then during the tragic shooting on Trump, he had the courage and presence of mind to fist bump and come out very strong. And in their emotion, people of course rally behind strength.

But then when we go back to hearing Trump speak for an extended period of time, we are reminded that he is kind of retarded, like where we were before, prior to the emotion of the crisis.

Nothing stops this train. All our heroes are retarded. Stay humble and stack sats.