mattybw.eth 🌖

There is so much in this. Things that people obsessed with skin colour completely fail to grasp.

I got many requests to post an update of these charts that compare 10-year gov't bond yields (blue) with 10y20y forward yields (red). We're in a slow-moving global debt crisis with lots of idiosyncratic trouble spots: Japan, the UK, France, Italy & Spain. robinjbrooks.substack.com/p/bond-market-…

Should @Plasma be an L2? AJ argues that Plasma should be an L2 in order to save on validator costs - $550m per year in savings. I think this is long-term correct however the market structure has to fundamentally change to make it long-term correct. The L1 Premium ROI Right now there's an L1 premium even for assets that aren't competing as a store of value. Should this be the case? I can't see why - not in the long-term. But the market currently disagrees. Let's look at FDV comps: Arbitrum (L2) - $4.3 billion Optimism (L2) - $2.9 billion ZKSync (L2) - $1.1 billion Compare these to EVM L1 chains that could be L2s: Tron (L1) - $32 billion Plasma (L1) - $9.6 billion There's clearly an L1 Premium. Say $5 billion of Plasma's current FDV is due to L1 premium. That's worth 10 years of $500m (5% of FDV) per year in validator costs. Add to this: Plasma can throttle issuance at any time - why not decrease validator rewards to 1-2% as the network grows? If you think you can be a deca-billion network it's market rational to launch an L1 instead of an L2 because of the L1 Premium. That's why Stripe's Tempo, Circle's Arc, Tether's Plasma are all launching as L1s instead of Ethereum L2s. The technical reasons they give are ex post facto rationalizations for the real reason: L1s are higher ROI because of the L1 Premium. Look at it from their perspective. Worst case - the L1 Premium evaporates in the years ahead. Fine, they just pivot to an L2 - they've lost nothing. Will the L1 Premium persist? Truthfully, i don't know. Maybe as the market matures we'll move from a Dumb L1 Premium to a Smart L1 Premium - only the assets truly competing as a nation-state grade censorship resistant store of value (SoV) will get the L1 premium and all other L1/L2 assets will be valued based on revenue and supply sinks. To me, BTC and ETH pass the SoV bar and it's very much TBD on everything else. But i'm not the market. The market says XRP is worth $300 billion and that the L1 Premium is real. So that's the takeaway for L2 lovers. Until the L1 Premium disappears expect to see more L1s.

Interesting stats here. Income share going to the richest 1% in society: France, 9%. Britain, 13%. United States, 19%. Russia, 24%. China, 16%. Sweden, 12%. France is much more egalitarian, though overtaxed.

Macron’s calculator only works for one side’s pain. Israel’s prisons are full of Palestinian children, journalists, and activists—do they not deserve “immediate release”? How does he describe the 100,000 tons of explosives dropped on Gaza over the past 698 days alone? Or the 6,671-day siege of Gaza? Or the 21,276-day military occupation? Not to mention the ongoing annihilation, starvation and forced displacement of Palestinians? Numbers count. So do words. The barbarism Macron cites is the thousands of bombs Israel dropped with his silence and acquiescence. For almost 700 days and counting.

This camera should be exhibited one day in the Genocide Memorial built in memory of the innumerable victims of Israel's genocide in Gaza. Shame on all journalists not raising their voice against the massacre of their brave Palestinian colleagues while documenting the genocide.

Footage from inside Kamal Adwan Hospital in northern #Gaza shows the Israeli army deliberately targeting a Palestinian girl as she tried to collect water, further irrefutable evidence of #Israel’s deliberate killing of Palestinian children

Can you tell us how he died, where, and why?

They won't say who killed him (the Israeli army), or how (while he was trying to collect food aid for his children). Meanwhile, Israel remains a full member of UEFA even as its domestic teams play on illegally occupied land and its military has killed hundreds of footballers.

Now we can see why Israel has kept international journalists out of Gaza. If they hadn't, there would be hundreds of Anthony Aguilars telling people in their home countries what was actually happening there.

I provided evidence to support my facts. You did not. Instead, you resorted to personal insults. And now you are lying. I'm sure readers will base their judgement on the facts and evidence they can see I have provided.

I suggest you read the Hansard entry for Wednesday 21 July 1937: hansard.parliament.uk/Commons/1937-0…. Read especially the speech from the Secretary of State for the Colonies, and note particularly his comment about the Balfour Declaration, the text of which was taken in its entirety into the League of Nations Mandate without alteration: "The pledge of Great Britain and of other Allied Governments was not Palestine as a home for the Jews. It was a Jewish National Home in Palestine—and there is a distinction. The phrasing is clear and the intention is clear. That was made very clear to the Jews at the time and was published to the whole world." Neither the Balfour Declaration nor the League of Nations Mandate promised that all of Mandatory Palestine would become the Jewish homeland. Therefore the Peel Commission's partition proposal was not unlawful, as you wrongly claim. You should also pay attention to his comments about the nature of the Mandate and the fact that it could be changed (article 27) or terminated (article 28). This paragraph is the Secretary of State's actual recommendation to the House: "The Commission are of opinion that the ideals of the two peoples and the intolerable burden upon His Majesty's Government can only be resolved by giving Jews and Arabs sovereign independence and self-government, not over the whole of Palestine but each over a part of it. With that conclusion His Majesty's Government agree. Only by partition can the ideals of both be realised, only by partition can peace be restored to these two nationalities, so that they will be able in the future one to help the other without fear of domination by either. It is the fear of domination of Jew by Arab and of Arab by Jew that is the root of the trouble, and the only way that can be removed is by partition and self-government. That is provided for in Article 28 of the Mandate which, being a Mandate, always envisaged the termination and the fruition of the mandatory period. We are only temporarily trustees in Palestine, trustees on behalf of the League. It is not our territory." In other words, the Secretary of State was recommending termination of the Mandate, as provided for in Article 28. #art28" target="_blank" rel="nofollow noopener">avalon.law.yale.edu/20th_century/p… Thus, the Peel Commission's recommended partition would not have been enacted by the British Government, but by the League of Nations on termination of the Mandate. The House did not endorse the Peel Commission recommendations as you wrongly claim. It voted to put forward the Peel Commission proposals to the League of Nations: "That the proposals contained in Command Paper No. 5513 relating to Palestine should be brought before the League of Nations with a view to enabling His Majesty's Government, after adequate inquiry, to present to Parliament a definite scheme taking into full account all the recommendations of the Command Paper." The British Government's despatch to the High Commissioner for Palestine in December 1937 says that the Government accepted "in principle" the partition proposal but did not accept the tentative plan outlined in the Commission's report and in particular not the Commission's proposal for compulsory transfer of Arabs from Jewish areas. The Government was clearly getting cold feet. un.org/unispal/docume… The historian Benny Morris says the Cabinet secretly voted against the Peel Commission plan in December 1937. The Woodhead commission was tasked with producing a detailed plan for partition, but several historians say that its real job was to wreck the scheme. Your statement that the British Government "accepted the recommendations of the Peel Commission and the announcement was endorsed by Parliament" does considerable violence to the known facts and evidence.

Break the selective silence on the genocide in Gaza - The Lancet thelancet.com/journals/lance…

As starvation worsens by the day in Gaza, the Netanyahu govt has been using food as a weapon of war — with complicity from Trump & U.S. taxpayer dollars. This is painful to listen to but here’s what a U.S. Army veteran & Green Beret who witnessed it first-hand recounted to me:

So many people in so many stations of life enable a genocide. Some plan, some carry it out (bomb, shoot, block the entrance of food), some frame it for public and scholarly discourse as a platform for "discussion" ("when you deny a sick infant medication and baby formula and then he starves to death, did you starve him? Discuss"). Some celebrate it, some agree to it reluctantly, some avert their gaze and "move on" with their lives. All of these people do their bit for the genocide effort. These bits should never be forgotten.

This could literally pass as a scene straight from The Office

The NYT finally has a front-page article on the mass famine sweeping Gaza, but barely mentions the role Israel has played in blockading food from entering. Here's how the Lead Editorial of @haaretzcom today begins: "Gaza is starving, and Israel is responsible."

To put this in context, the terrible 1929 Hebron Massacre, one of the worst tragedies suffered by the Jewish community in Mandate Palestine, resulted in 69 innocent deaths. It has been the subject of many books and studies, and is still constantly referenced. Now around double this number of innocent Palestinians are killed in Gaza EVERY DAY and our governments do absolutely nothing.

🧵The Israeli army has committed one of its most heinous massacres against starving civilians waiting for humanitarian aid in northern #Gaza. The army ordered the civilians to approach aid trucks with their hands raised and then opened fire on them without provocation

Palestinian man walks calmly in Hebron with his arms raised. The Israeli soldiers shoots him in the back. This happens all the time for a simple reason: The impunity the US & Europe provide Israel not only enables this, it encourages the steady increase of Israeli war crimes.