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.

We've got big Bitcoin price predictions, $2 trillion in stable coins according to the Treasury,

and a billionaire hedge fund leader predicting the end of the global monetary order.

Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. Quick note, we are doing a Friday 5, but I am pre-recording it. Scott is on vacation this week, so it is just a solo Friday 5. Kicking off today, we have the big think piece for the week. For the past few years, Ray Dahlia has been

pounding the table that the world order is shifting, and this week's update really put a fine point

on the issue with the legendary investor declaring that it's really too late to do much about it.

One of the striking things about Dahlio's essay, which he published on X, was that he's been

studying these global shifts for years, maybe even

decades. Almost none of them have gone smoothly. They're almost always filled with strife, disaster,

and catastrophe. And yet still, he seemed to believe that calm, orderly, and agreed upon

restructuring was possible. And even now, as he feels like that is less possible than ever,

his big rallying cry from this week's essay was that rather than

scattering the global order to the wind, the Trump administration should bring everyone to the

table and figure out an intelligent and cooperative solution. Looking back over the first

100 days of the administration, there seems to be very little sign that this will take place.

Within the first few weeks in office, Trump had already kicked off a trade war with

Canada and Mexico, who are, of course, America's two largest trading partners. And although there

have been walkbacks and compromises, the genie cannot be put back in this bottle. This was on full

display during this week's Canadian election, with Trump very clearly turning the sentiment against

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