New Fed Chair Just Made A Huge Mistake — What Happens To Bitcoin Now?

Fed Chair Kevin Warsh held rates steady this week and admitted out loud that the central bank cannot undo five years of above-target inflation in nine weeks — and the guys on Bitcast think that one throwaway line reveals everything wrong with the system. Bitcoin, meanwhile, is quietly sitting right on the 200-week moving average at roughly $63,500 — the same price it was in April 2021 — while everyone else piles into a single overcrowded AI trade. In this episode: • Kevin Warsh's first major Fed press conference draws mixed reviews: the hosts say he's "over his skis," lacks Powell's rapport with reporters, and his admission that inflation can't be undone only reinforces the case for hard money. • Steve Eisman (the real-world inspiration behind a character in The Big Short) says he is sitting entirely in cash because the 60/40 portfolio is now effectively one trade — over 50% of stocks and most new bond issuance are AI-related. • South Korea's stock market erased $2 trillion in market cap in just 40 days, prompting emergency stabilization measures from the country's finance minister. • Fauci invokes the Fifth Amendment roughly 111 times in front of a Senate committee; Rand Paul argues a presidential pardon strips him of that right under Brown v. Walker (1896), making the entire hearing theater. • The White House officially posts a "Truth in COVID" thread pointing to the lab-leak origin theory; Nathan's interview with Dr. Peter McCullough suggests the cover-up was driven by fear of violating 1970s bioweapons treaties. • Iran launched a surprise missile attack on U.S. forces; Trump threatened a strong military response while invasion odds on prediction markets sit around 24%. • BitChat — the Bluetooth mesh communication app requiring no internet or cell service — can now send itself phone-to-phone with no internet required, making it effectively unstoppable as a censorship-resistant tool. Watch the video version: https://youtu.be/GVhIZrR1yE4