Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io, near an FtX, and produced and distributed by CoinDesk.

What's going on, guys? It is Sunday, June 26th, and that means it's time for Long

Reads Sunday. And boy, today, do we have a spicy one for you, but before we dig into that,

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Now, today we are reading and discussing a thread from Stack Hoddler, which is actually a reflection

on a speech that Vladimir Putin just gave.

What we're going to do first is go through

the summary as Stack Hodler has presented it, and then we'll discuss it point by point.

Putin just gave a speech with massive implications for Bitcoin and global macro. We won't read a

word of it in Western media, so I pulled out the interesting bits. Regarding freezing of foreign

exchange reserves and assets, quote,

the very principles of the global economic system have taken a blow. Fundamental business notions as

business reputation, the inviolability of property, and trust in global currencies have been

seriously damaged. The quote continues, when I spoke at the Davos Forum a year and a half ago,

...