Milan Winter Olympics observations & thoughts

The perils of promoting oneself as a “Quad God” before taking the ice in front of the world became an Olympic reality for US figure skater Ilia Malinin, who entered the free skate 1st, but placed 8th after two falls during his long program.

It’s painful to watch.

This was Olympic pressure cracking a very talented young man. NBC’s evening coverage from Milan, which is tape-delayed, featured two retired US figure-skaters who mentioned Olympic pressure as nothing an athlete can simulate or be completely prepared for. Tara Lipinski won gold in 1998, and she admitted her knees were shaking going into her long program– which won.

So we can see that every athlete feels the pressure, even those who prevail as champions. It’s all about managing oneself and focusing on the tasks of the competition. When you put yourself under more pressure because you have promoted yourself as a Quad God, then you are setting yourself up for failure. That’s all one can say to the athlete on this.

I’m of a firm belief that figure skating & ice dancing are art-forms that should be appreciated as performance, instead of graded as competition. I feel the same way about diving & gymnastics at the summer Olympics. I understand this opinion is in the minority, but there are points to be understood, even if it doesn’t change your mind.

Let’s start with the ridiculous notion of music being an Olympic event and “best rock concert” wins the gold. The Beatles rock the house, followed by the Rolling Stones, Captain Beefheart & his Magic Band, the Velvet Underground, the Doors, Creedence Clearwater Revival, James Brown, and finally Jimi Hendrix. Judges (trusted old people) will rate their performances, based on criteria defined by them, and determine a winner & podium.

That may sound silly, and it is, but Rolling Stone magazine has been doing this since it started in 1967. More than anything, criticism of music & film and the judging of athletic performances are vehicles to promote personal favorites & devalue disliked acts. They act as political & social filters.

For the last 25 years the corporatized “music Olympics” has transformed from Rolling Stone magazine into American Idol reality TV, and it’s why music sucks so hard today. When industry gatekeepers control every aspect from development & finding talent, to access to resources & media promotion, it becomes nothing more than a popularity contest & pet projects among executives, instead of the kids deciding what they like & get to hear.

Back in the 1960’s, kids loved the Beatles & Stones, and demanded more from the record labels, and what followed was its classic rock era. Today corporate heads manipulate everything you see in the media. The last thing they want is another Bob Dylan revolutionizing things. Today. one must pass through the corporate filter of reality TV before one can be anointed a star.

The Beatles & Rolling Stones wouldn’t be allowed to exist and become famous these days. Their type is too wild & dangerous, too exciting & influential with the kids, and that can’t be allowed to happen. That’s been the corporate philosophy on music & entertainment post-Nirvana.

It’s the same process in sports, which is big money these days because it’s live entertainment brought to the viewer through traditional television & now internet streaming. Sports harvest eyeballs in all demographics, which advertisers love & networks cash in on.

Thus, I don’t get caught up in this Olympics ice dancing judging controversy.

Unfair judging has been part of the Olympics for decades, as these are political slights intended to project power towards an antagonist nation. The actual effect is to degrade an athlete’s performance while raising suspicions of dirty politics undermining the spirit of “fairness & international goodwill” at the Olympics.

Curling is a little known sport, and this is historically my first commentary on it. Team Sweden accused team Canada of cheating during their competition. Video shows illegal touching by Canada, but the sport is not subject to replay review officiating– yet. Cheating at a “gentleman’s” sport which most people don’t even understand or care about reveals that we have a competition problem at the Olympics.

The problem is everyone lies, and the more money that goes into winning, means more cheating & lying to become the “best”. This can raise the pressure to a breaking point for many athletes. “Cracking” happens in many different ways– bad performances, rules cheating, hidden PED use, etc. The drive to be the best involves making difficult decisions and managing serious expectations. Failure can derail a career in minutes. Sponsors want a winning face that pops. Silver medals don’t get it done, as an Olympic athlete needs gold to have a successful post-athletic career in broadcasting or whatever.

Of course, I understand the need to recognize the best in sports, and in competitions where the event is decided by time or some other objective measure, or on the field played by a predetermined set of rules that is officiated on the field, then it is a sport where Olympic medals can be fairly awarded.

X-game events are largely subjectively graded, and should be appreciated as athletic-artistic performances, instead of judged for medals in competition. Let the fans & viewers argue about who is top-tier & best, etc. These performances would be better if they were considered as such. Music, art & entertainment are competitive, so there would be no lack of motivation to be recognized as the best. What would be removed would be tainted judging & corporate dominance in messaging, and sports fans would appreciate that.

Conclusion: I’m not an athlete, I’m a musical artist. The two are similar in that managing your performance is more mental than physical. World class athletes train a lifetime for Olympic competition. Unless there is an injury, it’s typically not physical issues that concern when the time comes to compete. It’s the same in music, as the performer knows how to play, but it’s nerves that can wreck it. Learning to control oneself and be calm in front of an audience is an advanced skill for any performer– artistic and/or athletic. It’s not something anyone is born with, it’s something that can only be learned through hard experience.

It involves breathing, taking in the moment, and realizing where you fit in as far as the bigger picture is concerned. It actually helps to have a bit of contempt for all this crap & people’s expectations, etc. If you feel the only expectations you need to meet are your own, then you are at peace and ready to perform. If you can’t do this, then it is easy to be overwhelmed by the situation, which creates self-doubt & performance slippage.

Lindsey Vonn crashed out of her skiing event (pic above), after trying to compete with a torn ACL. That was her choice as a professional athlete in an individual sport. Team sports are different, where competing injured can set an organization back in the long-term. In those cases, team physicians & management must make the final call, for the safety of that player, other players, as well as the interests of the organization & league. But in individual sports such as skiing, it’s the athlete’s choice.

These athletes consistently push their bodies beyond the breaking point to be the best and amaze the world. All this competition (music, art, sports) falls into the category of entertainment.

You do push yourself to (& beyond) the breaking point when you attempt to be the best in these fields. People admire & are inspired by great music, art & sport, but often don’t really understand the sacrifices, or the heartbreak of coming up short, getting injured, having to retire. No one can sustain the greatness to be the best in any of these entertainment fields for more than a few years. It’s too competitive and always progresses into the future, favoring the next generation.

Old judges & seasoned critics contribute nothing useful or progressive to entertainment. They act as a brake on development & innovation, invariably favoring conservative corporate & political interests. Too much of these Olympics, along with all other sports, is about satisfying the demands of people who put themselves above the athletes in competition.

And finally: Russia & Belarus are once again banned from competing as nations in the 2026 Winter Olympics in Milano Cortina. Both nations were banned from the 2024 Paris summer games due to the ongoing war with Ukraine. This ban was a political decision made by western imperialism backed by its International Olympic Committee. Only a limited number of individual, pre-vetted athletes from Russia & Belarus can compete as neutral, non-represented participants– and most choose not to. This drastically affects: figure skating, cross country skiing, ice hockey, biathlon & speed skating.

The US is able to run up its medal count at the winter games due to: 1) new (X-game) events which largely favor US athletes; 2) banning Russia from the competition; and 3) massive sports spending in America linked to the NCAA, etc. World politics & corporate sponsorship are the unspoken elephants in the room as far as any international competition goes these days.

It’s not the Russian athletes’ fault that Russia & Ukraine are at war, yet they lose their opportunity for which they have trained a lifetime due to the rulings of corrupt politicians & their puppet institutions. This NATO-provoked proxy war in Ukraine is the work of US, UK & German intelligence, supporting fascists in Kiev in an effort to carve up Russia. None of that has any rightful place in influencing Olympic competition. Imperialist institutions are responsible for unfairly banning Russian athletes, stripping them of their opportunities for Olympic glory. Those are the real politics that underlie all the official lip service on internationalism & the Olympic motto of “Faster, Higher, Stronger – Together.”

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Who controls bitcoin?

This is the third part of a trilogy discussing a qualitative shift in bitcoin-crypto dynamics. Part 1 is here, and Part 2 is here.

Bitcoin has settled into the $68-72K range since I last published. Any short or long derivative bets outside that range are being aggressively liquidated. This is how Wall Street controls bitcoin without buying or selling any tokens. Since the analysis of the bitcoin market being manipulated by futures trading (linked & discussed in Part 2), bitcoin’s price has settled where reluctant proponents & mild opponents can agree– for now. But this is a war for existence on all sides. Crypto Kool-Aid drinkers still in the game are battling against bitcoin going to zero, which strong opponents (historical materialists) have always insisted upon.

But ‘mild opponents’, also known as centrists & liberals, see it differently– and fundamentally so. Crypto has no legitimate use value, but it has tremendous criminal value. The actual justification for bitcoin (& all other crypto) is its value on the black market. That is where assets of the CIA, MI5, Mossad, etc, operate. For example, Pussy Riot are a known CIA asset, and they coincidentally have been huge crypto proponents, even issuing their own NFT. Al Qaeda terrorists love crypto, and being paid in bitcoin is gold to them because it is anonymous & largely untraceable. Hence bitcoin’s maintenance of price value, despite there being no new buyers in the financial market.

Michael Saylor keeps borrowing to buy more bitcoin as other whales sell. That’s the total current bitcoin market, outside of what is being mined, which is currently ~450 bitcoins/day. Technical note: bitcoin is “halved” every four years so that mining rate decreases the closer it gets to 21 million– bitcoin’s finite limit set by its unknown creator Satoshi Nakamoto. As of early 2026, 19.9M – 20M bitcoins have been mined and are in existence. It’s helpful to know these technical facts when dealing with Kool-Aid drinkers & understanding the bigger picture.

The CIA demands bitcoin be legal & valuable, and that was conceded by the US Supreme Court during the Joe Biden administration in SEC v Grayscale, which was discussed at length on this blog. To review, Grayscale sought to establish an ETF for bitcoin, and the SEC denied the application, arguing (correctly) it lacked sufficient fraud & manipulation protections. But in August 2023, the right-wing Supreme Court ruled in favor of Grayscale, paving the way for crypto to become a stock exchange, thus giving bitcoin (& crypto) the business legitimacy it desperately needed after the stablecoin & FTX collapses a year earlier.

Bitcoin needs to exist at a wildly inflated value because the criminals who run the world depend on it. These are the Jeffery Epstein clients who are being protected by Trump and the FBI which he now controls. This is now a crypto fascist world we are living in, where everything important is decided behind closed doors with no public disclosure, discussion, or criticism allowed. Trump with the tutelage of Elon Musk (from 2022-25) became crypto fascist, because that’s what he needed to do to stay ahead.

Trump tokens on his crypto exchange World Liberty Financial have apparently lost over 96% of their value, which was claimed be $85/token at IPO in January 2025. Currently the Trump token is ~$3.30. Here are two recent screenshots:

Unsurprisingly, there is a total supply of 100 billion [!!] Trump tokens, already minted & available for purchase, which illustrates fascist greed & ignorance causing faster crypto de-valuation. That’s the inherent rot eating crypto fascism from the inside. Of course there are outside forces too, such as traditional finance on one side & mass worker organization with strike action on the other. Crypto is caught in a Mexican stand-off, and will be the first killed, crushed between the millstones of economic laws & historical truth.

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Bitcoin bits & the Nancy Guthrie kidnapping

Secretary of the Treasury Scott Bessent (portrait pic below) was asked the other day by a congressman if crypto was going to be bailed out, and it ended in a shouting match. The biggest bitcoin booster, Michael Saylor, is now deep underwater, as the crypto industry has been loaned hundreds of billions of dollars which they clearly won’t be able to repay. The issue has always been– will crypto be eligible for a taxpayer bailout when doomsday comes?

Here it is spilling out in the public arena after being discussed intensely behind closed doors. Since I last published, bitcoin has crashed & “recovered”– again. Banks have kept loaning to crypto up to this point, but it’s getting tougher to justify. This is the crisis which now imperils the entire capitalist set-up.

Bitcoin has “stabilized” again, let me explain how & why. First, peruse the reader comments to financial articles that discuss Scott Bessent and a possible taxpayer crypto bailout. They’re all negative– no bailout. These are people with money commenting, and none of them have an appetite for crypto. But bitcoin “bounced” again, so obviously the banks have quietly loaned Michael Saylor, etc, more money in another foolish attempt to re-inflate the bubble.

The music is still playing, but for how long? Trump tariffs & crypto are killing the US dollar with inflation. Tariffs make goods more expensive, while crypto (fake money) dilutes the dollar’s value when it is extensively invested-in by the US financial system. Warren Buffet said crypto is “rat poison,” and this is how it works.

Here’s an interesting post from an industry expert who has researched the latest bitcoin crash. In short, analysts now say derivatives are setting the bitcoin price. As liquidations pile up, questions are growing over how much Wall Street is manipulating bitcoin’s price. Recall that bitcoin was originally hyped by Libertarian money-nerds as “deregulated finance,” outside of government & Wall Street control. Today, all the premises underlying bitcoin (including finite supply) have been dispelled by capitalist machinations. For the original Kool-Aid drinkers, the crypto pitcher has run dry, and all that remains for them is a nasty hangover.

Of the $2.6B liquidated in the latest bitcoin crash, $2.1B came from liquidated long bets. “Long” means you bet the market would go up. Derivative short-sellers have been cleaning-up since 10-10-25, which was four months ago when Trump announced 100% tariffs on Chinese exports. Bitcoin started crashing from its $126,000 all-time high. Trump was forced to walk back that threat, but bitcoin kept falling and currently is at ~ $69K, after falling to $60K just two days ago. That cleaned-out all the long-bet suckers (again) down to $60K, and now it has been pumped up a bit and rests at just under $70K. It’s amazing how these crypto price levels magically hold & fluctuate.

Hypothetical question: What are the futures for an “asset” that has no legitimate use value?

Bitcoin is useless in the legitimate market because it is valued in dollars or some other fiat. You may as well just pay for what you need with a dollar, instead of crypto. Most legitimate institutions don’t take crypto because they have no good reason to. ANY illegitimate & criminal organization with any ambition deals in crypto– from the CIA/MI5 & Al Qaeda/ISIS to online scammers & wrench hack kidnappers.

The high profile kidnapping of Nancy Guthrie, mother of Today show host Savannah Guthrie, reveals the actual use value of bitcoin. Apparently, the kidnappers are demanding payment in bitcoin, because it is online anonymous & virtually untraceable. The image below of the ransom demand sent to a local news station is blurry, just like everything else bitcoin is involved in.

Large bitcoin holders are targets for abduction, as they are often tortured into revealing the key codes to their virtual wallets. This is known as a “wrench hack,” because all that is needed is a wrench to beat the victim into submission. Bitcoin/crypto is intimately linked with these forms of criminal activity, and this is being under-reported in the mass media concerning Nancy Guthrie’s abduction.

We now learn from released documents that Jeffery Epstein was all over crypto from the start. Crypto links this entire corrupt nexus. The US government is now crypto fascist by definition. It’s how it operates behind-the-scenes, as crypto fascist is what the Trump administration intends to become in permanence.

What we can see from all this is that bitcoin has enabled a layer of crypto-criminals. Their activity ranges from online theft & kidnapping to Trump’s exploits in World Liberty Financial– his proprietary crypto exchange (founded in 2024) where he mints worthless Trump tokens and trades them for most established crypto such as bitcoin, along with any cash people will pay for his junk.

The consequences are to be paid by all of us who must endure higher prices with a dollar that is being devalued by crypto. Bitcoin does this by sucking-up money that could be better invested elsewhere, while undermining the value of fiat currency. Wall Street loans the money to crypto companies, then wins all its manipulated derivatives bets. That’s called getting paid on both ends, with the US taxpayers eventually being made to pay the bond holders & banks for all their losses on bad crypto loans.

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Crypto notes on the Fed chairman & Jeffery Epstein

Kevin Warsh, Trump’s surprise nominee for new Fed chairman, is pro-crypto. Kevin Warsh has recounted seeing the original bitcoin white paper in 2011 and recognizes it as “innovative software.” Crypto critics point out that blockchain technology is an expensive waste of electricity that can’t scaled into mainstream finance because it’s too clunky & slow, but those facts are to be ignored. “Bitcoin is not a trouble, but policy signal,” according to Kevin Warsh. This is exactly what Trump demanded from his new Fed chairman.

Crypto is the publicly unstated conflict between Trump & current Federal Reserve chairman Jerome Powell. Powell was nominated by Trump in 2018, but that was before he went in on crypto. Trump called crypto “a scam” through 2021, but between his presidential terms he became enamored with bitcoin, all around the time he was partnering with Elon Musk, who coincidentally joined the Trump White House to help Trump with economic policy as head of DOGE, which is the name of Musk’s proprietary meme crypto– dogecoin.

Warren Buffet and JP Morgan CEO Jamie Dimon represent anti-crypto billionaire capitalist interests. Their influence on monetary policy is significant and it extends past the Federal Reserve, which should be understood as a giant bank that loans money to billionaire corporations, financial institutions & individuals.

Everything rests on the strength of the US dollar, which since 1971, has been a fiat currency that floats against a global basket of currencies. Globally, all oil transactions are settled in US dollars (petro-dollars), which adds weight & importance to that currency. All the fighting in the Middle East, which starts with Zionist Israel, is about maintaining American control over the most valuable commodities in the modern world– oil & natural gas.

Without these commodities, there is no transportation or electricity, meaning there is no modern economy and we’re back to horses & candles. The problem is oil & gas consumption causes global warming, which is getting worse every day and is thus unsustainable.

The drive of US imperialism to monopolize the global oil wealth by partnering with a criminal & terrorist Zionist organization in Israel to be a permanent garrison in the Middle East is doomed to historical failure & class blowback. Kidnapping the leader of Venezuela during an armed attack against that country, all to seize that nation’s oil resources, will not stand. Bleeding Stalinist-capitalist ruled Russia into a dirty war with Ukraine which the US/UK & German intelligence provoked after decades of effort is completely misguided and has no chance of succeeding, yet it continues because it’s what US billionaires demand.

The most powerful force of capitalism is the global bond market, in which the US is the dominant participant accounting for roughly 40%. The bond market represents the global debt & credit market, estimated to be $119 trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA).

Unlike bank loans, bonds may be held by retail investors, and are more frequently traded than loans. Bonds are considered a “safe haven” for big investors. If the bond market tanks, capitalism crashes and the party is over– for good. Therefore the bond market is the most-protected, most sacred institution of capitalism, an all-powerful global institution in a world of international commerce.

If you are a centi-millionaire or billionaire, then your money, assets & investments are all protected by the bond market. You can’t defy or run away from the bond market. The only social force capable of defeating the bond market is an internationally united working class & youth. A sustained & organized general strike globally chokes off all capital flow to the bond market. That’s the only way to kill the bond market, short of mutually assured destruction.

The latest Jeffery Epstein files release has revealed his links to early crypto. This should surprise no one. Crypto was invented as a tool to evade taxes & hide illicit financial transactions. Trafficking underage girls for sex with billionaires, etc, is to the point of crypto.

We now know that Jeffery Epstein was an early investor in Coinbase, which is the largest US-based crypto exchange & bitcoin custodian. All kinds of professional sports sponsorships are being used these days to legitimize crypto in the public mind, and Brian Armstrong’s Coinbase (founded 2012) is perhaps the most prominent.

What was released was surely only the tip of the iceberg as far as Jeffery Epstein’s involvement in crypto. Bitcoin was invented for people like him, and now we the people learn he claimed to have corresponded with the infamous & unknown Satoshi Nakamoto, the person who invented bitcoin. It’s not at all surprising that someone like Jeffery Epstein would seek out these people and do business (invest) with them.

Bonds are paper which represent wealth & power. The people who own this paper don’t want it to lose its value. Crypto is so unreal, yet it has been so heavily promoted as legitimate to the point where a segment of billionaires are all-in on it. When crypto crashes to the point of no return, that’s when the bond market will be forced to move into action in the interest of all the banks, hedge funds, and big investors who have loaned their money to crypto companies that are going bankrupt.

Michael Saylor’s Strategy is the most illustrative example of this in the US. Bitcoin has fallen from it’s high of ~$125K in early October to ~$74K as of this publication. All during this free fall he has been buying bitcoin. He does this to maintain the price. It has been widely reported that he has paid an average of ~$76K/bitcoin. Which means he’s underwater by $2K/bitcoin as of this writing.

On top of that, Michael Saylor has financed all the bitcoin buys with stock swaps & borrowed money, meaning his corporate ownership is diluted and he’s in deep debt which he can’t repay by selling bitcoin because it’s worth less than what he owes. Each day the interest on what he owes goes up, while his stack of bitcoin loses value. As sellers continue to leave the market, they implore Michael Saylor to “keep buying,” as he is the only one holding up bitcoin (& therefore all of crypto) under current market conditions.

Bitcoin can’t be allowed to go to zero, which it would have done dozens of times already if the “market” hadn’t prevented it from happening. That “market” is the bond market. The bond market is bigger than any presidency or military. The bond market is why presidents & militaries exist. It’s why ICE exists.

The ultimate enemy in the fight against this evil is the bond market, which crystallizes the essence of capitalist inequality. It’s largely faceless, yet viciously ruthless, and it answers & apologizes to no one. It is the bond market that must be abolished for humanity to flourish.

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