Crypto torch bearers, we love you. We want to shower you with flowers, write y'all insipid but heartfelt love letters like this, figure out what makes y'all happy and do it with ya. Our strength is the strength of ten because our love for you is true. Thanks forever for being part of the greatest revolution in the history of money, here on the love worthy, unquenchable Publish0x!!
Will it all end in tears? Probably, everything does eventually, except so far our marriage, 
but right NOW we don't care we still love you!!! Like a stage dive, every second is precious while it lasts. Often ending bleeding on the floor, but sometimes in the emergency room! We just LOVE being on the scene with yall. Even to only glimpse ya in the parking lot makes our night.
In a Houston punk club, a girl brushed against us while we got ready for stage time (mostly, drinking and stuffing our pants! ) Her boyfriend got foul, menaced us. We brightly repeated a threat from our bad apt. complex: "If ya wanna fight, pack a lunch, and we'll take you to Ben Taub later!!!" He shut up. This bravado impressed the headliner band. SO much that after the show we all took their mildly injured lead singer, Peanut, to the infamous Ben Taub Trauma center!! We did NOT wanna go, we hate/are scared of hospitals. But the punk rock girls were so much fun! Cheered us, the janitors, & everyone in the waiting room, right up. Showed real love to the worst hard luck cases. OK, they stole from the vending machines, etc, but it was an epiphany!! Kept a sign they swiped for years!! & that's the way we feel about y'all. Yall are who we love to be with.
On the OTHER end of sartorial elegance, today's FT has this actually really bad news, crypto news where they don't dare say crypto. But it's ok, many of the things which are really bad for the world are good for crypto!!!! We do like the punker's hair better. 
TLDR: Christine proclaims a "rather historical moment" as she poses with her color coordinated suit, backdrop, and podium. Chris now has all the money in the world to buy unlimited bonds from any country "judged" (hah) suffering from borrowing costs beyond what's "justified" by economic fundamentals.
This (supposedly) addresses the "vulnerability" that nearly killed the euro ten years ago. Germany, the Dutch, and any country (mostly northerners) with a fiscal grip hate this. It's illegal for the EU to finance other gummints. But Italy chucking out Mario fragged the bond spreads against the bunds. Insiders say the EU horse-traded a bigger rate boost to grab this power. New unlimited funds can buy govvie bonds and even private bonds.
Fiscally sane Germans have attacked EU govvie bond purchases in court before, and will do so again. To throw up a legal wall of BS, the ECB pinky promises to think real hard, honest, before abusing this power. Considering the "trajectory of public debt" & other econ voodoo totally subjective (&*(@&@!&$!! BS. This may or may not help Rome, which is refusing to reform chit.
The REAL story: Prediction: the ECB will shower Rome with euros to get their man Mario back in (always unelected) power. This is a deal with the devil Germany et al will regret. Absolute power corrupts absolutely. Dear readers know Chris is a proven in court abuser of power for her cronies. And now, the most powerful woman in the world. How could anyone even pretend the gummint buying private bonds won't cause conflicts of interest? This world is racked in crises caused by free money going through the kleptocracy. Bond buying/quant easing instead of low rates means the gummint keeps THEIR free money, while YOUR credit card & mortgage payments double.
The statement that this "plan" will not further bloat the ECB's ten trillion dollar balance sheet is an Orwellian lie, of truly historic proportions. Chris is right about that. The ECB has no clothes. Free money (not for thee, for meeeee!!!) is free money, no matter how you lie about it. The 99.99% of people that are NOT Cantillon positioned will end up paying the price for this paper hanging scam for generations. Think the kids TODAY are scr-wed, unable to save or buy anything of real value like a house, ready to risk it all cause they have nothing to risk??? Check out the world THEIR kids and grandkids get.
($&*!#($*&!#(*!!! Chris getting her little thrill and enjoying it too. That's evil. It's not a time to be "gratified," this is a somber, sad time like war. What drives us #!($*&(*#$!!! nuts is the STYLE of the powerful abuse. Q: "Hey lady, won't this lard up the balance sheet even more??" A: Oh, no, it won't, insignificant person. Don't worry your little selves about that. Ha ha ha. We won't even bother to answer. We, the rich & powerful, have a magic calculator beyond your tiny grasp. The math is different for us, we know better. Tut tut tut, shush, au revoir, we go back to the penthouse now. Btw, do ya think the EU would print fiat to depress BTC? This proves it to us.
The biggest comedic masterstroke of parasitical excuse, elitst lies, though? It's a side splitter. There is only one possible way any serious person could even come close to being able to "judge" bond spreads between nations with independent fiscal policies.
Only the law of the market, in whatever shape it is in, is fit to say if the Portuguese AGRIDISTRIBUIÇÃO ten year is looking good? Tell us, oh Oz naked emperor, how does the yield curve of the short and long term debt of the Futebol Clube Do Porto look to your omniscient eye? ($*&$#!(*&#&(*#%&(*%##!!!!! Is it perfectly shaped??? NOBODY KNOWS! There is what the market will pay, and anything else is a facist lie.
FUTEBOL CLUBE DO PORTO
Other news about crypto not about crypto: Tata will close the UK's biggest steel plant unless the money printer go Brrrrrtt 1.5 billion times for them. Here's one: talk about putting your kids in debt: the UK's debt payments last month hit the highest level since, well since they started keeping records. Another: South Africa's inflation just hit a 13 year record. Anyone borrowing money there just got hit with the biggest rate raise in 20 years.
Here we go: ya KNEW the FT would print that Elon let go of some BTC. 
TLDR: Telsa's 17 billion in revenues is up 40%, but they sold 75% of their BTC stash. Elon has a super bad feeling about the economy. Tesla's biggest problem right now is production. China messing around with COVID killed 25% of production last quarter (not in THIS article: despite forcing workers into a "closed loop" living at the factory.}
Hidden WAY DOWN AT THE VERY BOTTOM of the article, hoping no one will notice: Elon says this is NOT a verdict on Bitcoin, they just wanted to max cash given that China could shut them down over Covid again. The absolute last line: Telsa is certainly open to buying BTC in the future, and Tesla has NOT sold any of their dogecoin.
The REAL story: Wooo boy, a lot going on, not much of it good, & none of it in the FT article. Let's unpack!!
We could take Elon at face value. Hlarious how China has played the Covid. At first refused to shut down, threatened Taiwan for trying to tell WHO. Then shut down, then reopened while everyone else shut down for a long time. Once the rest of the world opened up, China started shutting down hard, semi- randomly. Many analysts thought that China was playing resource games to help Russia's war effort: sorry, we can't ship that stuff ya need to the West right now cause Covid. Now China managed to crush 25% of Elon's production cause Covid, like they care. So Elon said fine, we'll bulk up on cash & have no fear.
Another elephant in the room is ESG. Telsa stock was hurt when it was removed from ESG status, & no longer in line for ESG auto-index pension investing. This is, of course, total bullshit. Well, ya, automatic index pension investing, never including crypto, is a soul destroying fact. Perverting value analysis and price controlling the market, another facet of free money obliterating price discovery.
Tesla out of the ESG is total bullshit, we were saying. Don't worry ESG wants electric cars so bad they play huge tax games all the time to encourage them. Rich enuff to buy a (subsidized) electric car? No road (gas) taxes for you then, that’s for little people.
Yet now, Exxon is top ten ESG,!!??!! the huge oil company Phillips just got added, for god's sake discussions are on to call war machine defense contractors ESG cause Russia, and Elon is out? WTF?
Many thought this was because Tesla dared to own evil, evil bitcoin. Hilarity ensued. Marc Andreesen said if BTC is bad, washing your clothes is very very bad, as US dryers use WAYYYY more energy than the worlds BTC miners. Elon, not one to hold back, said corporate ESG is the Devil Incarnate, and that ESG has been weaponized by phony social justice warriors.
Who do ya believe, Exxon et al, or Elon? We believe Elon, but we think he caved on the BTC just to take one gang of buttheads off his arse. It's ok, we kinda hated BTC moving on rando Elon tweets anyway. God knows we don't believe the S&P500 monkeys about anything.
The sale of BTC did not move the market down, or maybe it did, but the idea of the ECB printing all the money in the world to give Christine a power trip moved BTC up???
Reports on the Tesla BTC sale differ. Coindesk below quotes Barclays expecting a ~400 million impairment charge on the BTC sale. On the other hand, Fortune below, in a bit deeper article, says Tesla sold the BTC at a gain, but the BTC they still hold is down enough to have a ~100 million charge. Accounting rules say if assets go up, you can quietly hold them until sold, but when they tank, you must admit it.
Look, LOOK, we made it through without losing our chit tonight!! We chased the judges out, no ratings. Calmness maybe from tackling the ECB horror show first. It's actually such bad news that we can't just get mad, it's serious. That's good, cuz yesterday was scary.
But so are punk rock love songs!! Well, yes & no. Usually we loved east coast bands, think Ramones, NY Dolls, Blondie, Richard Hell, Dropkick Murphys. By the time we got to around 1990, Cali was doing better. The Casualties are east coast, and while they nailed the Punk Rock Love song title, not REALLY the music or lyrics. Around that time Cali Rancid is much better music, Oxers: cause if we fall back down, yer gonna help us back up again, up again!!!! if we fall back down, yer gonna be our best friend.
But who do we remember when we think of being HAPPY in the Ben Taub triage moshpit?? No question, east coast Philly punkers, the Dead Milkmen, and the immortal Punk Rock Girl. 
With all the love in the world, 
to counteract the evil Christine will pull with all the money in the world,
Love,
Dave
