C-Suite

TLDR: I am a recovering alcoholic with no fund, no credentials, and no lobbyist. I rebuilt myself from nothing. Then I broke into finance with no degree, no pedigree, and no permission. I parsed SEC filings for a $31.5 billion private credit fund called Cliffwater. Not because anyone asked me to. Because nobody else would. The filings are public, but they are buried in footnotes that are not indexed, not searchable, and not structured for analysis. I have been told by fund managers that nobody even attempts this. Billions of dollars in pension capital, and the people who manage money for a living do not bother to read the filings. So I read them. Every loan. Every amendment. Every semi-annual PIK disclosure. 2,330 positions. I hand-researched fifty. I found 189 loans where borrowers are paying interest with more debt instead of cash. I found over 50 loans that are not generating enough cash to service their debt at all — carried at par on the books of a fund that has never reported a losing month in 41 months. The fund's Sharpe ratio is 3.75. Bernie Madoff — who was fabricating returns and could pick any number he wanted — ran a 3.5. He got caught because the numbers were too smooth by Markopolos. The greatest quant fund in history, Renaissance Technologies, runs a five or six. Cliffwater is claiming risk-adjusted returns that would be impossible even if you insider-traded with perfect information every single time, because the volatility of the underlying markets would still prevent it. Nobody asked questions. Bloomberg confirmed 14% redemptions 48 hours after I published. S&P cut the fund's outlook to negative this week. Cash on hand fell 76% in six months. This is not an isolated fund. This is the structure. $9.4 trillion in private equity. $3.5 trillion in private credit. They all pay their own valuation agents. The valuation agents decide what the funds are worth. No valuation agent has ever been fired for saying the number was too high. The marks produce the NAV. The NAV produces the fees. The fees come from pensions. The pensions come from firefighters and teachers and nurses in Oregon and California and Illinois who will never read a private placement memorandum in their lives. Wall Street ran out of rich people. The endowments were full. The sovereign wealth funds were tapped. So they went downstream — to 401(k)s, to retirement accounts, to interval funds sold to people who have no idea what they own. 1. Direct the SEC and FSOC to examine Level 3 fair value practices across interval funds and BDCs. 2. Require that valuation agents be independent of the funds they mark. 3. State publicly that the current self-marking regime creates systemic risk. 4. Mandate position-level mark disclosure for every fund that accepts pension capital. There are two ways this ends. It breaks all at once like 2008 and we fix it. Or it rots slowly like Japan: one fund blows up, six weeks of quiet, another one, and nobody connects it for a decade while a generation of retirees gets destroyed. I am not asking anyone to take my word for it. I am asking them to read the filings. If you know someone in the administration, a regulator, or anyone on a legislative committee, please send this to them. One person learned this from a one-bedroom apartment. Your government can too. The will is what is missing.

@KaiserLoengramm Facts.

This is a wildly optimistic view of the future. Allow me to give a much more sober minded prediction on what will occur should we be crushed in 2028: What will immediately happen first on the Republican/Right wing side of the aisle is that the still existent Establishment will immediately swing leftward. They will blame MAGA for being far too right wing, too extremist, and attempt to get back to fiscal conservatism, small government, and family values, dropping all pushes for immigration restrictions or fighting for White Americans, or Christianity which seeks to assert itself in the public sphere. Anyone who is connected with this or with MAGA will be systematically purged from all levers of power, every position possible, and they will be replaced as much as they can be by the Brilyn Hollyhands of the world, alongside a massive DEI push to get every single non-White and/or female possible who is even slightly in their favor to fill every possible position they can in an attempt to win back minority voters whom they will blame MAGA for chasing away, and whom they will assert are natural conservatives. Essentially, almost everyone to the right of Lindsay Graham will get fully assaulted by a resurgent Neocon wing. The Neocon wing will win, as they have vastly more money, more power, and are better at playing politics than you or I or most like us. It doesn’t end there. On the left wing Democrat side, as they take power, they will push for three things first and foremost. First, increased immigration and amnesty. They will likely create a program to deliberately find and bring back virtually everyone deported and hand them citizenship immediately as reparations for the human rights abuses they underwent from ICE. More amnesty will come under the same justification. Refugees will be let in enmasse. It will put what the Biden admin did to shame. Overnight, irreparable demographic transformation of the population. It does not end there, as secondly they will ensure Democracy reigns supreme. In order to most effectively utilize this new citizen base to get them to vote, measures will be taken to encourage electoral participation. They will likely make Election Day a holiday to increase voter turnout as an example. This will make it so there is a snowballs chance in hell of ever dethroning them in an election and they will secure permanent presidential victory alongside an unbeatable supermajority in all houses. And even still, they will do more. Because they will weaponize every aspect of the judicial system and the weight of the government on you, on me, on everyone who exists who even remotely poses a threat. Look at what happened to VDare. Now apply that nationwide. The IRS is going to audit and scrutinize everyone on the right. The FBI is going to investigate and embed themselves and arrest as many as they can. By 2032, MAGA, America First, and NXR for that matter will be a distant memory. You will have been sued out of existence, your entire website and operation deplatformed from everything, and more than likely, antifascists have firebombed your home or otherwise threatened or harmed you and your family because their networks now have tacit support from the state to do so through their robust support network of NGOs and judicial apparatus which will decline to prosecute or give slaps on the wrist for doing so. This is what is most likely to occur, because if the enemy is even half competent they will do all of that and more. You are right in one aspect though Joel. The best way to avoid all of this is by ensuring that Republicans do not lose in 2028, because even a government that will do literally nothing is far preferential to our enemies ruling over us.

@candaceoshow It is now officially Judeo-mongol values. They are rolling out the Bolshevik genocide playbook worldwide. They’re taking no prisoners like Ghengis Khan.

Judeo-Christian they said

@FurkanGozukara @EpsteinFuryNet LOL with Jews..you lose!

Absolute bombshell. Mearsheimer reveals Trump secretly allowed Iran to sell its oil to keep global prices under 100 dollars. But Israel intentionally bombed Iranian gas fields to ruin the plan, sending prices skyrocketing and destroying the US economy.

@OwenShroyer1776 @delilah1378510 They’re rolling out the Bolshevik playbook worldwide. It’s an important speech for the beginning of many genocides.

In this short clip Netanyahu: -Insults Christians & Jesus Christ -Asserts there's no purpose in being a good person -Says we have no choice but to fight Israel's wars -Subtly threatens us if we don't

@AdameMedia They are rolling out the Bolshevik playbook worldwide.

Important video. Netanyahu explains Israeli/Jewish supremacist morality. He says f*ck “morality”, forget being “just.” "Jesus Christ has no advantage over Genghis Khan.” Wow. Be “ruthless, and powerful” This is their philosophy. Pay attention.

@col_a_buendia @AugusteCom30151 Bolshevik playbook is being rolled out globally

Can't believe I get to use this.

@AwakenWithJP It’s the genocidal Bolshevik playbook. It’s being rolled out globally and there is already a death toll in the Middle East, Europe and USA.

Hello America, Israel is your master now! Here's why. Enjoy...

@ArtCrunchy @yudenjager This is the Bolshevik playbook and it’s being rolled out globally.

The Jews are creating laws in your countries that will send you to prison if you criticise their genocide & war crimes. If you dare to stand up to their paedophile, rape, violent, racist, genocidal, supremacist culture, you will lose everything. Your governments are complicit.

@HarrisonHSmith @mrwagmibtc Their bloodthist will never end until everyone is destroyed or subjugated.

These people are diametrically opposed to our worldview.

JUST IN: 🇮🇱 Israeli Prime Minister Netanyahu says "Jesus Christ has no advantage over Genghis Khan." "If you are strong enough, ruthless enough, and powerful enough, evil will overcome good."

@mrtapeguy @Kanarymine4 You’re a Bolshevik apologist. Crying over the Holocaust doesn’t disprove anything. There is European and middle eastern blood on the collective hands of your people. Neither you nor the rest of your tribe are innocent.

blah blah blah. The Jews are responsible for everything bad in the world. Extrapolation and inductive reasoning does not equate to bearing truth. You see what you wish to see and ascribe motives and intent in a need to an apologist for a mass-murdering psychopath. We don't want any stigma attached to that! There is nothing in Judaism or the Talmud that translates to what you claim. But I suppose you'll keep trying to get your wish and have a second Holocaust (if you aren't already denying the first one).

You can’t understand “Nazism” without understanding Bolshevism before it. You can’t understand “Nazi Supremacy”without understanding Talmudic Supremacy before it. You can’t understand “Nazi” ethnic cleansing of disloyal Germans (while having over 150000+ Jews in their ranks), without understanding Jewish ethnic cleansing and genocides of Europeans and Asians (including Volga and Baltic Germans) of 60M+ before it. You can’t understand German expansion without understanding Jewish invasion of Russia, Poland, long desired invasion of Germany before Barbarossa, and violent regime changes and control of half of Eurasia through Bolsheviks and Communist International, supported collectively by the Jewish tribe. You can’t understand German nationalism without understanding Talmudic nationless, borderless ambition of global domination of all nations before it. You can’t understand German socialist four year plans and annexation of industries without understanding Talmudic punishing Versailles and market manipulation, calls for worldwide war and boycott on Germany that led to mass unemployment and starvation before it. You can’t understand German highlighting German values without understanding Talmudic Weimar degeneracy conditions before it. You can’t understand German internment camp without understanding - Talmudist instigation of WWI and WWII against Germans, civil war in Bavaria - Talmudic ethnic cleansing, mass murders and gulags of E Germans 1910s-1930s - Internment of W Germans before 1940. I believe NSDAP’s socialism would be a short term miracle and would fail in the long run; I believe Nationalism is an effective tool, but unhealthy as objective and not means; I believe Strongman can be effective in fighting invasion, but to fight poison with poison may not be the answer. I believe a strict adherence to Constitution liberalism lends one vulnerable to infiltration and attacks. But it is the right path in the long run. But, that aside, we should evaluate history in a fair and balanced manner, and no longer attach automatic stigma to investigation of, or even agreeing with the German side to the extent reasonable.

@BethxMitch @Kanarymine4 Your people committed crimes against the German people. You are a Bolshevik apologist.

@Kanarymine4 nazi apologist

@EthanLevins2 Reparations for eternity to all affected groups (including the US). A back-breaking debt of labor until the end of their time. A day of servitude for every immigrant that they’ve helped onto the shores of the US or the EU.

The Israeli terror regime deserves the same treatment as Nazi Germany. - Demilitarization - DeZionistification - Trials for leaders - Breakup/Fracture the borders Only then can we have peace.

The veil is slipping in real time

Wait wait wait….. Run that back Did this nigga REALLY just said evil will overcome good…. Bruh.

@RichFGeorgia Go suck an Israeli dick.

To all the jew hating, antisemitic pieces of garbage who have called me every vile name under the sun for this post, let me make one other point. I stand with Jews. I stand with Jews across the world. Your hate only intensifies my support of my Jewish brothers and sisters.