30-year yield headed back to 5.0

After Bayside, Lendbuzz

Today gonna end green

TACO incoming at -2.0% Small weiner man is a cuck for the markets

"In fact, the dominant yet hyper-indebted financial casino, where money talks to itself without passing through commodity-producing labour, can only stay inflated through the controlled demolition of what is left of the productive economy." -Fabio Vighi

If I am @sundarpichai, I will bury all competing foundational models in negative gross margin tokens for eternity. I will NEVER take my foot off the pricing gas: to merely compete, I will force you to dilute your equity into oblivion. Sam will drown in my tsunami of COGS. $GOOG

There’s a growing trend in Canada — one that divides instead of unites, shames instead of inspires. We’re being told we “stole the land,” as if the people who built this country did so out of cruelty instead of courage. winnipegsun.com/opinion/klei…

🇨🇳 CHINA HAS JUST FLIPPED THE TURBO SWITCH 🇨🇳 With the new VAT rules, China's message is clear: ‘Buy at the SGE – we will empty Western vaults to fill ours for you and through you.’ 📦 Physical metal is being physically transported from West to East – not paper speculation. 🏛️ Deliveries to the Shanghai Gold Exchange (SGE) will increase significantly This is a strategic change. China is openly promoting the domestic accumulation of gold while simultaneously withdrawing supply from Western markets. There is only so much gold on this planet, and it migrates to where it is in greater demand.

This China new #Gold tax policy (Nov 1, 2025 implementation) explanation clarifies everything! Point 1: Regarding "Jewelry gold companies suddenly face an additional 7% tax" · Correct interpretation: The new policy does not "increase taxes" on end-consumer jewelry but restructures the tax treatment of upstream gold raw materials and reestablishes the VAT chain. · Specific impacts:   1. Past: Many jewelry companies used gold raw materials that did not bear full input tax when leaving the exchange, leading to "uninvoiced sales" or non-compliant tax practices downstream.   2. Present: The new policy requires that gold for non-investment purposes (e.g., jewelry production) be issued ordinary invoices by the exchange, with buyers calculating 6% input tax based on the invoice amount for deduction.   3. Tax burden change: For companies that have always operated compliantly and can obtain legitimate deductible credentials, the tax burden will not increase by 7%. They can use the 6% input tax to offset the 13% output tax. The real impact is on previously non-compliant companies, which must now return to full-chain compliance. · Conclusion: This is "mandatory standardization and full-chain integration," which benefits compliant companies while disadvantaging non-compliant ones. Point 2: Regarding "Gold coins are fully exempt, ushering in a spring for 30g Panda Gold Coins" · Correct interpretation: The policy text explicitly excludes "gold and its products issued by the People's Bank of China" from the new taxation scope. · Specific impact: This means that the supply and tax treatment of raw materials for 30g Panda Gold Coins and other central bank-issued gold products remain unaffected by the new policy, preserving their original tax advantages. This indeed creates a very favorable policy environment for products like Panda Gold Coins. Point 3: Regarding "Major banks' gold bar sales unaffected" · Correct interpretation: Standard investment gold bars (e.g., Au99.99) sold by banks are inherently exempt from VAT at the sales stage (according to the VAT Provisional Regulations). This aspect remains unchanged under the new policy. · Key point: When banks withdraw these gold bars from the exchange, they must declare them for "investment purposes." Although the exchange issues special invoices to banks, the banks cannot deduct them but instead treat them as part of the cost. Since end sales are tax-exempt, their overall business model remains largely unaffected. Point 4: Regarding "New Year gold bars from Shanghai Gold Coin subject to 13% tax" · Correct interpretation: Non-standard gold bars like New Year gold bars and cultural creative gold bars are classified as "non-investment purpose" gold products under the new policy. · Specific impacts:   1. Upstream: Manufacturers (e.g., Shanghai Gold Coin) purchase raw materials from the exchange and receive ordinary invoices, calculating 6% input tax.   2. Sales: When manufacturers sell New Year gold bars, they must pay 13% VAT in full but can issue 13% special VAT invoices to downstream buyers.   3. Impact on wholesalers: The statement "can't operate anymore" likely refers to wholesalers only having 6% input tax credit while facing 13% output tax, meaning they must bear the 7% tax difference themselves, significantly squeezing profit margins. #ChinaGoldCoin #GoldBars #Gold #FinancialTips #GoldBuyingGuide #NewTaxPolicy #YoungPeopleBuyGold

🧵 China’s New Gold Rules: Bloomberg calls it a setback — but it’s actually a cleanup. 🥇🇨🇳 1️⃣ Bloomberg says “China ends gold tax break.” Reality? China just made it easier for ordinary people to stack gold legally and tax-free. Let’s break it down 👇

Truth and Reconciliation? It's been reconciled. Canadian taxpayers spent over $200B in handouts to Indigenous *just at the federal level* over the last 10 years. What did we get for it? Where did the money go? No one knows and they still live in 3rd world conditions. It's time to unite or be done with the grift. We need to move on.

The US Navy has managed a total of 273 nuclear reactors, 6200 reactor-years, over 177 million miles, averaging 4 new reactors per year over 70 years. They have done this with a perfect safety record. Zero accidents. Zero injuries, zero deaths, zero environmental pollution.

Today will end Green

My dad just asked me if I knew anything about call options..

Markets evolve toward randomness: the instant a rationale appears, it is seized, priced in, and the exploitable pattern is lost.

AI is just a lossy compression algorithm, where the loss lies in the model’s limited representation capacity, rather than in the data itself

Tomahawks to Ukraine is because oil prices dropping too much.

2008 was a lot like the end of WW1 - the seeds of destruction were sown. Now, ~20 years later, it's time to reap.

In stressed markets, the volatility surface doesn’t just shift — it warps. Skews steepen, term structures invert, and relative value hides in the kinks. Watch the shape as much as the level; that’s where the edge lives. #Derivatives #Volatility #TradingMevXAlpha