Ten31 Timestamp: Just Add a Zero
TFTC: A Bitcoin Podcast
Marty Bent
4.8 • 804 Ratings
🗓️ 1 June 2026
⏱️ 35 minutes
🧾️ Download transcript
Summary
Trump and Bessent's $250 bill photo sums up the current moment, but under the surface the economy is tearing apart. AI stocks are ripping while credit card delinquencies hit 2008 levels. We get into why oil is artificially cheap, why data centers are becoming a political target, and the Bitcoin developments everyone is ignoring.
In this episode:
- Trump and Bessent's $250 bill vs the iconic Fed building audit photo
- Chevron and Exxon CEOs call BS on suppressed oil prices amid SPR drains
- Micron and Dell hit record highs as AI infrastructure proves it's not 1999
- Credit card delinquencies and savings rates flash K-shaped warning signs
- Why Brad Gerstner is pitching dividends to calm AI data center opposition
- Iran's Hormuz Safe and Calyx's Cashew protocol validate Bitcoin's core thesis
TIMESTAMPS:
00:00:00 - Getting the band back together after Memorial Day
00:01:02 - Trump, Powell, and the $250 bill photo
00:02:34 - The K-shaped economy acceleration
00:03:00 - Oil prices, Hormuz, and strategic reserve draws
00:05:41 - Chevron and Exxon call BS on manufactured oil prices
00:07:30 - AI infrastructure: Micron, Dell, and record earnings
00:09:03 - Why this AI boom isn't the dot-com bubble
00:12:22 - xAI Colossus, Anthropic's raise, and OpenAI breakthroughs
00:16:08 - Delinquencies and savings flash K-shaped warnings
00:19:41 - Gerstner's dividend plan vs NYC seizure rhetoric
00:24:24 - AI data centers, energy, and narrative battles
00:26:48 - Bitcoin's Hormuz Safe development
00:28:38 - Cashew protocol, TEEs, and Bitcoin privacy
00:30:45 - Sentiment worst since 2015 and why it matters
00:34:25 - No summer doldrums this year
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Transcript
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| 0:00.0 | John, we missed a week. Memorial Day really threw a wrench in our scheduling and we couldn't make it up Tuesday. So we're back. Yeah. It's a, it's a, it's a, it's a, we brought shame on our households relative to, uh, your unbroken streak with, uh, with Odell on RHR. Maybe, maybe we'll, we'll start our streak today going forward. Yeah, we had a, we had a Friday RHR last week. Matt's feeling a little bearish. |
| 0:24.2 | I feel like he We'll start our streak today going forward. Yeah. We had a Friday RHR last week. |
| 0:23.2 | Matt's feeling a little bearish. |
| 0:24.2 | I feel like he's a little bearish right now, which is usually a good sign for the near-term |
| 0:29.8 | prospects of the Bitcoin price. |
| 0:31.2 | Though we have drifted a bit lower since we've recorded on Friday currently below $72,000. |
| 0:37.5 | But I think Bitcoin's in an interesting spot. |
| 0:40.5 | We're going to, I think, end this conversation on the fundamental value prop of Bitcoin |
| 0:45.6 | and some developments that have happened in recent weeks. |
| 0:48.8 | But first, I think jumping right into it, just talking about the memetic power of this |
| 0:53.5 | administration. And you wanted to |
| 0:55.7 | start off this week's presentation with the juxtaposition of President Trump and Jerome Powell from |
| 1:01.8 | last year's audit of the building of the new Federal Reserve building and Secretary of assent |
| 1:08.1 | presenting the $250 bill with with President Trump on it. |
| 1:11.6 | Yeah, look, I mean, this guy, you know, much, much can be said about him, positive and negative, and we don't have time to get into all of that. |
| 1:20.6 | But I think the one thing that we all have to agree on is that Trump across his two administrations is responsible for some of the most iconic images of |
| 1:28.4 | our storyed history of this great country. And, you know, the one on the right, the Besson |
| 1:34.9 | image is what I let off the week with, just because I think it's so perfectly captures the |
| 1:39.7 | moment and also the contrast between what happened last year with his iconic image of Trump and Powell, |
| 1:44.9 | which I think is probably the number one image that Trump will ever produce. |
| 1:48.2 | I mean, I just, I don't think you can get better than this. |
| 1:50.9 | But a strong number two is this one with Besson holding up his $250 bill. |
... |
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