MarketNodeQ1

They’ve run out of road.

For decades, developed countries played the same simple game.

Steal 2% of purchasing power a year via currency debasement, kick the can, and hide the rot under a mountain of cheap credit.

But as of this morning, the US national debt is sitting close to $39 trillion.

We are adding a billion dollars in debt every few hours.

And now the math is forcing the debt to become predatory as it approaches the exponential knee in the chart.

In other words, the debt has entered its terminal phase and governments are coming for the only resource they have left: You.

This week, the Netherlands showed us exactly what the future looks like in the form of unrealized gains taxation.

A 36% tax on paper gains you haven’t even cashed out to enjoy.

Let's look at the math.

If your Bitcoin goes from $70,000 to $100,000 on paper, even if you never sell a single sat, you owe the government over $10,000.

You are forced to liquidate part of your position just to pay for the 'privilege' of holding an asset that outperformed their failing currency.

And if the market crashes before the bill is due? Too bad. The tax is locked in at the earlier valuation.

You can turn a real gain into a net loss and permanently lose a chunk of your stack.

This law is scheduled to start 2028.

It passed the Dutch House with politicians openly saying, 'We don’t like it either, but we have to.'

And they aren't alone.

Erica Payne and the 'Patriotic Millionaires' just told the IMF exactly what the second half of this trap looks like: A Global Asset Registry.

They want to 'map the money' and define 'what is enough.'

Because when a government is $40 trillion in the hole, 'enough' is whatever you have in your bank account.

They are building a digital panopticon to ensure no one escapes the burning house of fiat.

Your taxes haven't gone towards paying the budget in a long time.

Now they are telling you what they are really for: limiting your personal economic power and agency.

They want to ensure you never gain the economic velocity to question the authorities who broke the system.

Thankfully, we live in a time where the most liquid capital asset in the world is also the most mobile and censorship resistant.

Bitcoin.