Virtualevil

@Chezwoof @clairlemon My understanding is they have something like 2 years of diesel reserves.

@clairlemon Japan imports around 90% of its energy needs. It’s nice of them to say they’ll supply us, but how?

"Japan will provide Australia with a normal level of fuel supply as the Strait of Hormuz remains blocked." How cool is Japan 🇯🇵🇦🇺 abc.net.au/news/2026-04-0…

@AquarianGG @disclosureorg Bingo.

@disclosureorg So wait do PEADs stay outside of Congressional oversight even after they've been signed/enacted? How does that work? How can Congress legislate without knowing the full "reality on the ground," so to speak?

PEADS are legally untested and would face significant constitutional and judicial scrutiny if/when challenged.

@AndoInDisguise @SkyNewsAust Capital owns Australia. First British Capital and now US Capital.

Not my words but an interesting take on this land we inhabit. Australia was not established as a nation-building project. It was established as an extraction platform. The British did not colonise Australia to build a civilization. They colonised it to extract l; first convict labor, then wool, then gold, then minerals, then gas. The political architecture was built around that extraction logic from day one, and it has never been restructured away from it. You assume the state exists to serve the population, and therefore bad outcomes must mean the state is being run poorly. Australia is not a sovereign state that happens to have a mining sector. It is a private sector extraction platform that happens to have citizens. Every Australian who “owns” a home is servicing a debt instrument that enriches the FIC. The minerals get dug up by foreign-owned multinationals. The profits get distributed to global shareholders. The taxation office is structured; by design, through decades of lobbying, to ensure the extraction proceeds leave the country with minimal sovereign capture. The politicians are doing exactly what the structure requires of them: absorbing public anger, rotating every few years to reset the pressure valve. Australia is not mismanaged. Australia is managed perfectly, just not for Australians.

Australians have been urged to “avoid panic buying” and fill up in the city if possible, as more than 600 service stations have run out of fuel. skynews.com.au/australia-news…

@TmarketL This is AI

Putin Is Waiting for One Move — And When America Makes It, It's All Over Prof. Jiang Xueqin

@Jason @AlbertNaghel Sold at $520

$tao > $btc

@WSJ youtu.be/EVyhmImXJsE

The Pentagon is moving a Marine expeditionary unit to the Middle East, as Iran steps up its attacks on the Strait of Hormuz, according to two U.S. officials. Expeditionary units typically consist of up to 2,500 Marines. on.wsj.com/4sNYxhg

Notice the location. The vessels run a path from Yellow Sea down to the Miyako Strait (Kerama Gap) a narrow route via international waters which is one of the few exits to deep blue water for the PLA Navy. Theory is that this was acoustic pollution on a huge scale from Yellow Sea submarine bases to the Strait. This noise pollution may allow Chinese submarines to evade acoustic detection by US and it's allies Japan and S Korea.

🇨🇳 🇹🇼 Roughly 2,000 Chinese fishing vessels gathered on Dec. 25, 2025 in unusual geometric formations in the East China Sea about 300 km northeast of Taiwan, according to ship-tracking data analyzed by maritime experts, AFP reports. The boats lined up in long parallel shapes stretching up to 400 km, holding position for about 30 hours before dispersing. Similar mass gatherings involving roughly 1,000–1,200 vessels were detected again in early January and later again in the same area. Analysts say the scale and coordination suggest China may be testing its ability to mobilize civilian fleets in a regional crisis, including a possible operation involving Taiwan.

@NormanSufrin @Osinttechnical One was refueling the other probably.

I can’t help wondering how the heck two tankers could be involved in a mid air collision like this. I mean what happened to separation distances and individual operating areas. Unless I missed the fact they were transferring fuel between tankers? This conflict is going to get more and more ugly by the day if mistakes like this keep happening. The other thing is crew fatigue. These guys are putting in a real shift right now!

Reported image showing one of the USAF KC-135s involved in the mid-air collision over Iraq today, back on the ground in Tel Aviv. The tanker can be seen missing nearly half of its vertical stabilizer.

@ctindale There's like one mining school in WA, the WA School of Mines and Curtin Uni had to literally be arm wrestled by alumni to not close it down a few years ago. True story.

Matt’s pointing to an Australian higher education pantomime . We have bastardised our education system so that it doesn’t physically function as a national asset . Instead it functions as a cover for immigration fraud perpetuated partly by government .

@zerohedge @FBI @FBIDirectorKash @RepLuna

Dear @FBI and @FBIDirectorKash there is a Logitech cloud server that has recordings from cameras on Epstein's island (installer Jermaine Ruan now works for the USVI Bureau of Corrections), the kind that Epstein couldn't destroy. Not to do your job, but can you subpoena it?

@houmanhemmati justice.gov/epstein/files/… justice.gov/epstein/files/…

@houmanhemmati Yup legit justice.gov/epstein/files/…

🤯 With all the talk of Ghislaine Maxwell having a body double, an Epstein Files search for “body double” reveals that Epstein allegedly had “3 containers of body double and one fast drying body double” made for him that involves a mold & requires special handling. What?!

@AlboMP Free this, free that, free, free, free! Nothing's free folks, someday someone has to pay the bill.

Together we are working to help Australians with the cost of living. Cheaper medicines. Boosting bulk billing. Free TAFE. Record hospital funding. Free Medicare Urgent Care Clinics. In Victoria, and right across the country.

@grok estimate the total computing power of all apple ecosystem devices if they were connected together for AI training and inference. Detail apple's efforts in this space particularly what they're learning from the Find My Device feature and how federated and distributed architectures could eventually be used for widescale adoption of local and edge device AI upgrades to Siri. Is apple just waiting for higher bandwidth and lower latency?

Just thoughts: What is the 2030 size of the “country of geniuses” services market? What would Dario's answer be? If frontier AI is too capital-intensive and physically constrained to scale in the near term, the industry compresses into a small number of vertically integrated systems. The rest become application layers or infrastructure suppliers. If large hyperscale deployments run into energy, metals, grid, or permitting constraints, capital is reallocated. The logical direction is toward more efficient architectures built on advanced nodes from players like Samsung Electronics, Rapidus and TSMC. That raises a more basic question: how certain are we that the hyperscaler mega-cluster is the correct long-term architecture? My answer at the moment is that I'm uncertain. Heading down an architecture path with a 1/2 dozen major constraints seems risky. Hyperscale won the first phase because training required extreme parallelism, and cloud economics absorbed the capital burden. That does not make it structurally optimal for deployment. What if Hypercalers are just training? Is the demand for geniuses, either human or AI, more than 5%? so maybe the demand for robotic geniuses tracks that human spectrum If capability per watt improves at the edge, and if inference becomes the dominant economic layer, value migrates outward. Lower-latency systems, embedded models, robotics, desktops, and industrial control environments. Distributed intelligence begins to compete with centralised intelligence. What if AGI does not require a Manhattan-sized data centre? What if it compresses? Will I have adesktop AGI in 10 years? What if the economically relevant version lives on the edge, on a workstation, inside a robot, or across a federated mesh of devices? The industry assumes scaling laws continue and that centralisation remains efficient. That assumption should be tested against physical constraints, energy ceilings, and capital discipline. The right architecture is the one that survives constraint. It would seem more logical to me that AGI is distributed because latency is a primary constraint you can't solve latency remotely you have to bring the compute to the problem

@MarioNawfal I saw the phone number and was like “that’s an Australian mobile number.” Then it’s mentioning Adelaide University and Government of South Australia. Wtf

🚨 Hundreds of pages in the Epstein files describe government mind control experiments No, seriously. Buried in the Epstein document dump is a massive file detailing "directed energy and mind control technology" used on people without consent. Government human experimentation causing permanent psychological damage. Lists symptoms: Anxiety, insomnia from "graphic imagery of rape and abduction," fear of relationships, constant stress, isolation from family. What the fuck is this doing in the Epstein files? File number: EFTA00262811

@cryptohuntz @TheOtherParker_ That was also my first thought.

@TheOtherParker_ jane street

WTF happened October 10 to February 5?! Part 2 of the HK Fund Blow up. This is the other side of the story. BTC (-48.38%) underperformed the S&P 500 (+0.53%) by a whopping 49.05% in 118 days!! What the actual fuck. BTC was supposed to be rapidly institutionalizing, but this is the largest multi-quarter depeg from the S&P 500 ever. And all with ZERO explanation. No cause, only effect. There is always a cause though, we just have to find it. Typically, when a hedge fund blows up in catastrophic fashion, “the market” isn’t the killer, it’s something - or someone - specific, an actual killer. Amaranth Advisors didn’t lose $6B and blow up in a week due to “the market”, John Arnold’s (legendary Enron trader) Centaurus Advisors killed them and John personally made $1B that week. The Bank of England didn’t break due to “the market”, Soros killed them. John Paulson made $15B in 2007 when subprime CDS blew out and kicked off the GFC, killing some big banks in the process. Paul Tudor Jones made his entire career on Black Monday, 1987, when the Dow dropped 22% and he was massively short, killing a number of funds along the way. Behind most deaths is a killer. I believe there is a killer here too. Let’s look at the evidence. This will be a long read. First, we need to look at the environment leading up to 10/10. A few big things were at play here. First, realized volatility massively tapered over the summer. On August 11, 30-day realized vol hit 11.83%. That is comically low for Bitcoin, which normally sits in the 30-60% range. Implied vol fell off a cliff as well, hitting a low of 34.49% on September 18. This made buying calls and puts incredibly cheap. We also know that shorting vol on Bitcoin has historically been a pretty successful trade most of the time. Bitcoin vol has been in secular decline, so as long as you didn’t get blown out in one of the random spikes in vol, you are printing cash. In many ways, shorting vol on BTC is like shorting the VIX itself. 95% of the time, you make money, and then you just have to avoid blowing up in the 5%. You’re the market insurance provider when you’re shorting vol. Now, on July 29, the single entity cap on IBIT options was increased to 250k contracts (Jan 21 was for a bunch of other crypto ETFs, not IBIT). This allowed anyone running a short vol trade to increase exposure; however, it also allowed anyone wanting to build a long vol position to increase leverage. As an aside, the IBIT contract limits aren’t particularly restricting, because (1) Market Makers can be exempt, (2) waivers can be received, and (3) OTC derivatives exist with no limits. #3 is the biggest problem, because the OTC market is entirely opaque. No one has ANY idea how much aggregate delta exposure is in the market. We’ll come back to this. On October 2, CME announced that they were going to launch 24/7 trading on crypto contracts sometime in early 2026. This is relevant, because we know that large crypto funds like to fuck around, especially on Saturdays and over holidays. This is where the famous CME gaps come from. Once 24/7 CME futures trading is turned on, bye bye CME gaps. Weekends have served as an artificially low-cost time for large funds to push the price in a direction they need the price to go. Without this window, the cost to push the price would just be too high, which is why you don’t see these same scam wicks outside of crypto. So, on October 2, the clock started ticking on one last epic push. This timing coincides with the rough timeline for passage of the CLARITY Act as well, which will likely make it harder for some of these shenanigans. So, what does a fund do when vol is the cheapest in history, there’s significant size available to buy, it’s common knowledge that lots of funds are shorting vol, and there’s a ticking clock on the opportunity to artificially push prices around? Go big. In the thread, I put together a quick example showing how a $50M long position (775k contracts) opened on 10/03 in $60 strike, 11/07 IBIT puts would have materialized into a total of $4B of sales by the dealers needing to delta hedge the position, because of the way gamma works. This is using all real numbers from that period. During the week of 11/07, the daily delta swings would have resulted in the dealer trading 25-30% of the volume on IBIT each day to hedge. This $50M position would have become 80x levered by expiration and the fund would have made $168M in profit on the trade (335%). This position isn’t even the most leverage you can get playing high gamma games. And you thought perps on Binance were crazy. You might rightfully note that the contract limit on IBIT options at this point was 250k contracts. The counter to that is that dealers have different restrictions that allow for netting either on a contract or delta basis. If you look at the largest MMs on IBIT options, some names become immediately familiar to anyone in crypto. Maybe more importantly though, a burgeoning OTC market has emerged around IBIT to bypass the 250k limit. This is why on November 23, Nasdaq asked the SEC to allow them to increase the limit to 1M contracts, citing concerns about the opaque OTC market growing, potentially adding risk to the system. I think Nasdaq knew something was afoot in the OTC market. You might also argue that no single contract ever has this much open interest, which is true. But this size of a position can be spread around the book, both with different strikes and different tenors, and further built in the OTC market. There’s an interesting opportunity here to build a gamma cascade where one gamma squeeze pushes the price into the next gamma squeeze. So let’s say that a giant hedge fund put on a $50M position (or why not more) in IBIT puts and/or OTC derivatives tracking IBIT in early October, hoping for vol to mean revert. Then, 10/10 happens, causing vol to MASSIVELY revert (60% spike in BTC ivol intraday) creating the perfect storm to REALLY push this trade. In the following 4 weeks, BTC spot bid liquidity fell by 25-50% (depending on depth measure). The cost to push the price around just then got much cheaper. So now this fund starts pushing the price using large amounts of leverage. We see this over and over in crypto, nothing particularly novel here and there are a number of strategies available to move the price with significant leverage and modest risk, i.e. liquidity arb where you short spot long futures or vis versa to capitalize on the liquidity differential between the two. These strategies, coupled with the massively increased liquidity in IBIT options and related OTC derivatives, and the sudden drop in liquidity created the perfect storm. What was originally just an opportunity to Go big became an opportunity to GO FUCKING BIG. If you look at the activity in Q4, a pretty obvious pattern emerges. The BTC price often drifted lower overnight (NY time) and on the weekends, all when liquidity was thinnest. Then, at the NY open, the options dealers were forced to dump to rebalance the delta they had accumulated while the market was closed, printing large selloff candles on many of the opens in Q4. It would be pretty easy to create this trade. Imagine on Wednesday, the killer would buy some OTM puts expiring on Friday. They could be very cheap with very low delta, but high gamma potential (the greek here is called speed - so high speed put options). Then, overnight on Wednesday, the killer would push the spot price down. At the Thursday open, the dealers are forced to immediately hedge by dumping IBIT, because they now have positive delta due to the overnight move. As the dealers dump, this increases the delta as the gamma increases due to the high speed and high charm (change in gamma due to change in ivol). Remember, high gamma options are those that are really close to expiry and right at the money, so as the price goes down and approaches the strike on the OTM puts, the delta rapidly increases, forcing the dealers to sell more. This pattern could be repeated each week with a new set of weekly options to push the price further and further down. Over the following months, this fund continued to push the trade, racking up hundreds of millions to billions in profits, which could be recycled into further pushing the trade. The massive amount of retail perps leverage on the offshore exchanges (crypto was supposed to have a supercycle, all the influencers said so) was an additional accelerant. Adding to that, the basis trade began to unwind, both on the CME and in crypto, with Ethena processing $7B in redemptions in a month. These basis trade unwinds put a lot of pressure on a thinning spot book. I believe the first leg of the trade was wrapped up in late December, because a trader of this size would want to close their position by year end to avoid 13F filing requirements (although 13F requirements don’t apply to OTC derivatives). Looking at the chart, it also seems obvious that the trade was closed out in December. By mid January however, implied vol had subsided to levels below 10/10, meaning restarting the trade wasn’t going to be too expensive. Coupled with the giant profits this fund was sitting on and the somewhat tepid environment for tech (AI P/Es stretched, Fed nominee fears, etc), there appeared to be another opportunity to squeeze in one last push right before CLARITY and the CME 24/7 futures. Double or nothing, bitches. So, over the latter half of January, a new high-gamma-potential (high speed) put ladder was built. Then, on Jan 26, Nasdaq greenlit Monday, Wednesday, and Friday options, so now triple the gamma available!! The killer could basically roll the trade every 2 days instead of once a week now. So, on January 29, with Silver and Gold retracing significantly, with bags loaded, and a machine gun instead of a bolt action rifle, the killer started the push, getting the price to the support level for the range. Below this range, there would be a lot of leverage as retail traders banked on the support holding. On Saturday, when the CME was closed, BAM, support was blasted with BTC down 6.5% on the day, kicking off >$2.5B in liquidations, more than any day since 10/10 and the 2nd highest of this cycle. This created the largest CME gap of this cycle and the largest gap in $ terms in history (~$6k). After this push, it was straight carnage. The put ladder worked perfectly, creating cascading delta hedging by the dealers. Any stalls in collapse could be followed up with new high-speed puts on one of the new M/W/F tenors. Silver and Gold continued to puke and risk assets took it on the chin across the board. In exactly 1 week (29th to 5th), BTC was down 30%, one of the largest % weekly moves in history, and by far the largest $ move ever (-$26,500). This culminated in the HK-based fund(s) completely blowing up on Thursday (02/05), and everyone panic-closing positions, giving this new legendary billionaire crypto trader his exit liquidity. Whoever the killer is, I would expect them to have some or all of the following traits: Have been in crypto for 5+ years, with a deep understanding of how liquidity dynamics work over weekends and how liquidity arbitrage between spot, perps, and IBIT work. Have been in tradfi for a long time as well, deeply understanding options trading, vol surfaces, liquidity dynamics within ETFs, ETF options, CME futures, and options position limits. Have been a market maker in IBIT, IBIT Options, and likely OTC options. This would have allowed them to increase their position size above the 250k limit and source meaningful amounts of gamma in the OTC market. Their Authorized Participant status probably also tipped them off to the fact that someone big was on the other side of the trade in either/both IBIT options and OTC options. Being a dealer could have also allowed them to build a large position more quietly, potentially by simply providing liquidity to the victim(s) on the other side. Have a history of past manipulation in other markets or strong accusations of manipulation, either in crypto or equities. Additionally, you might expect to see former trader(s) who left and went on to take some huge bets (bordering on or full blown manipulation) that either blew up catastrophically or printed bigly. This point is admittedly total speculation, but could illuminate a culture of pushing huge bets into deeply grey areas. Given how privacy-oriented hedge funds and crypto can be, we may never know who the killer is. There may have also been a few tag along accomplices on the second push over the last week. Make no mistake though, there was absolutely a new billionaire crypto trader minted this week. This is my hypothesis on what happened between October 10th and February 5th, based on bread crumbs and circumstantial evidence. This move had nothing to do with the fundamentals of Bitcoin or Solana, and everything to do with technical market microstructure dynamics. CLARITY should help fix some of this, because the root problem is that the spot BTC market is not nearly liquid enough to support all these derivatives. BTC spot is supporting perps, CME futures, ETFs, derivatives on the ETFs, derivatives on the CME futures, and a host of OTC products. We need all of the world's largest market makers active in spot BTC to help solve this problem. Additionally, we need more flows to move onshore, on exchange, and ultimately on chain. On chain is the objectively best solution here as net and gross positioning cannot be hidden. We need to see reduced opaque OTC and offshore activity that creates the opportunity for these issues. There are some other easy fixes as well, e.g. CME futures going 24/7, better risk management at funds in trading vol, more spot liquidity overall, increased IBIT options position sizing (as Nasdaq has requested), etc. Most importantly though, market participants learned another great crypto lesson this week/quarter that must be applied. Be VERY VERY careful trading on leverage. Live by the leverage, die by the leverage.

@MtotheShacks @strangerous10 What he put in the shop window to the Australian public, that he backed fully to the hilt, lost him 14 seats and almost an election.

@virtualevil @strangerous10 This is the problem with people's understanding of Australian politics. The PM is the leader of a cabinet and party that decide policy by ballot. He's not the supreme leader. He tried to drag the Coalition into the 21st century but they wouldn't have any of it

Malcolm Turnbull with a brutal assessment of Libs says their issue is they seek “approval from the Sky News audience” who “does not represent Australia” Says Labor’s saying Sky’s the “best thing” that ever happened to them. “It has drawn Libs off into this la la land.”🔥 #auspol

So hang on. If the government is pumping billions in and juicing up the economy to a level of public demand - and the private sector demand (which is actual economic growth/value creation) increases on top of that - isn't it clear that it was the initial high level of government spending that is the foundation of the problem? Like an economy with poor productivity wants private sector growth. Because it's new jobs, new capital spending, not funded by the taxpayer. I'm surprised Speers who is an experienced interviewer didn't get him on this. The Treasurer is very good at dominating the framing of interviews. Doesn't get flustered, appeals to your reasonable side...reminds me of Dan Andrews in his day.

It took David Spears a full 5 minutes this morning to get slimy Jim Chalmers to admit government spending is increasing. The treasurer clearly thinks the Australian people are stupid as he tries to twist the narrative in his favour.

@matthew_pines @DanielleLangWa @Shavano18 Missile Strike the data centres level...

@DanielleLangWa @Shavano18 Ha, Claude Code with Opus 4.6 and the new Agent Teams orchestration is weapons grade intelligence. I am reeling watching what it’s doing on my laptop as we speak…

When/if Xi’s aides sit him down and show him CC w/ 4.6 + Agent Teams, he’s gonna order the Code Red…