<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title><![CDATA[RSS Feed]]></title><description><![CDATA[RSS Feed]]></description><link>http://direct.ecency.com</link><image><url>http://direct.ecency.com/logo512.png</url><title>RSS Feed</title><link>http://direct.ecency.com</link></image><generator>RSS for Node</generator><lastBuildDate>Sat, 04 Apr 2026 23:59:49 GMT</lastBuildDate><atom:link href="http://direct.ecency.com/@thauerbyi/rss" rel="self" type="application/rss+xml"/><item><title><![CDATA[The Plumbers Are Winning]]></title><description><![CDATA[The Plumbers Are Winning There is a version of this story that Bitcoin maximalists will hate, and it goes like this: the most consequential crypto development of the week happened at the Office of the]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/the-plumbers-are-winning</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/the-plumbers-are-winning</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sat, 04 Apr 2026 05:49:48 GMT</pubDate></item><item><title><![CDATA[Good Friday. Bad Data. And Bitcoin Is the Only Adult in the Room.]]></title><description><![CDATA[Good Friday. Bad Data. And Bitcoin Is the Only Adult in the Room. Eight-thirty this morning, the Bureau of Labor Statistics dropped March payrolls into a market with no lights on. The NYSE is closed. The]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/good-friday-bad-data-and-bitcoin-is-the-only-adult-in-the-room</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/good-friday-bad-data-and-bitcoin-is-the-only-adult-in-the-room</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Fri, 03 Apr 2026 06:19:45 GMT</pubDate></item><item><title><![CDATA[The Quarter From Hell, Elon's Timing, and Why the Market's War Machine Is Broken]]></title><description><![CDATA[MEMO: RE: The Quarter From Hell, Elon's Timing, and Why the Market's War Machine Is Broken April 2, 2026 — Q2 Opens. Everybody's Still Bleeding. TO: Anyone still checking their portfolio FROM: Someone]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/the-quarter-from-hell-elons-timing-and-why-the-markets-war-machine-is-broken</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/the-quarter-from-hell-elons-timing-and-why-the-markets-war-machine-is-broken</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Thu, 02 Apr 2026 05:37:30 GMT</pubDate></item><item><title><![CDATA[The Memory Hole]]></title><description><![CDATA[The Memory Hole April 1, 2026 Somewhere in Mountain View, a team of Google researchers published a paper about memory compression, and in the eight trading days since, Micron Technology has lost roughly]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/the-memory-hole</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/the-memory-hole</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Wed, 01 Apr 2026 06:09:30 GMT</pubDate></item><item><title><![CDATA[All Portfolio Managers, Risk Desks, Macro Strategy  ]]></title><description><![CDATA[INTERNAL MEMO TO: All Portfolio Managers, Risk Desks, Macro Strategy FROM: The Situation Room (you know which one) DATE: March 31, 2026 RE: Week Five. Still Going. Please Advise. Gentlemen, ladies, and]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/all-portfolio-managers-risk-desks-macro-strategy</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/all-portfolio-managers-risk-desks-macro-strategy</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Tue, 31 Mar 2026 04:23:45 GMT</pubDate></item><item><title><![CDATA[between the pump and the portfolio]]></title><description><![CDATA[Dear Powell: A Letter From the Corner of Sentiment and Reality An open correspondence to the Chair of the Federal Reserve, written from somewhere between the pump and the portfolio. Dear Jerome, I want]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/between-the-pump-and-the-portfolio</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/between-the-pump-and-the-portfolio</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Mon, 30 Mar 2026 06:22:27 GMT</pubDate></item><item><title><![CDATA[Notes from the Last Bull Standing]]></title><description><![CDATA[Notes from the Last Bull Standing Okay. Deep breath. The Strait of Hormuz is functionally closed. Brent crude touched $113 intraday on Friday before "jawboning" from the White House walked it]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/notes-from-the-last-bull-standing</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/notes-from-the-last-bull-standing</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sun, 29 Mar 2026 08:07:30 GMT</pubDate></item><item><title><![CDATA[Nobody Is Watching the Money Move]]></title><description><![CDATA[Nobody Is Watching the Money Move March 28, 2026 BTC is at $70,692. Down 44% from its October peak. Everyone is talking about it. The price. The chart. The distance from $126K. The grief of the number.]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/nobody-is-watching-the-money-move</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/nobody-is-watching-the-money-move</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sat, 28 Mar 2026 06:15:06 GMT</pubDate></item><item><title><![CDATA[Anyone Still Pretending Private Credit Is Fine]]></title><description><![CDATA[INTERNAL MEMO TO: Anyone Still Pretending Private Credit Is Fine FROM: The Market, Apparently RE: The Flywheel Has Stopped DATE: March 27, 2026 CLASSIFICATION: You Should Have Read This Months Ago Let's]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/anyone-still-pretending-private-credit-is-fine</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/anyone-still-pretending-private-credit-is-fine</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Fri, 27 Mar 2026 06:52:03 GMT</pubDate></item><item><title><![CDATA[Whoever is still long UK duration]]></title><description><![CDATA[INTERNAL MEMO — STRICTLY NOT FOR DISTRIBUTION TO: Whoever is still long UK duration FROM: The Gilt Market DATE: March 26, 2026 RE: We need to talk about what I've become I'll keep this brief, because brevity]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/whoever-is-still-long-uk-duration</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/whoever-is-still-long-uk-duration</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Thu, 26 Mar 2026 05:38:33 GMT</pubDate></item><item><title><![CDATA[YOUR HEDGE DIDN'T HEDGE]]></title><description><![CDATA[INTERNAL MEMO: RE: YOUR HEDGE DIDN'T HEDGE TO: Everyone who bought gold as an insurance policy FROM: The market DATE: March 25, 2026 RE: A clarification on what you actually owned Please be advised that]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/your-hedge-didnt-hedge</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/your-hedge-didnt-hedge</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Wed, 25 Mar 2026 06:14:27 GMT</pubDate></item><item><title><![CDATA[Remarks Delivered to No One in Particular]]></title><description><![CDATA[Remarks Delivered to No One in Particular, Somewhere Between the Third Coffee and the Fourth Refresh of the Deribit Options Board Here is the thing about a good story. You believe it until the moment you]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/remarks-delivered-to-no-one-in-particular</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/remarks-delivered-to-no-one-in-particular</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Tue, 24 Mar 2026 05:49:39 GMT</pubDate></item><item><title><![CDATA[Notes from the Desk of Someone Who Has Not Slept Since February 28th]]></title><description><![CDATA[Notes from the Desk of Someone Who Has Not Slept Since February 28th Confidential · Issue #48 · Monday, 23 March 2026 Situation Board · Bitcoin: ~$70K, down 3 straight days · Gold: sub-$4,500, –3% on week]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/notes-from-the-desk-of-someone-who-has-not-slept-since-february-28th</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/notes-from-the-desk-of-someone-who-has-not-slept-since-february-28th</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Mon, 23 Mar 2026 05:10:36 GMT</pubDate></item><item><title><![CDATA[Someone who has been staring at TTF forward curves for six hours]]></title><description><![CDATA[INTERNAL MEMO — NOT FOR DISTRIBUTION TO: Anyone still paying attention FROM: Someone who has been staring at TTF forward curves for six hours RE: We are doing this again DATE: March 22, 2026 Europe started]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/someone-who-has-been-staring-at-ttf-forward-curves-for-six-hours</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/someone-who-has-been-staring-at-ttf-forward-curves-for-six-hours</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sun, 22 Mar 2026 06:31:36 GMT</pubDate></item><item><title><![CDATA[THE HORMUZ GAMBIT, OR: HOW TO HOLD THE WORLD AT GUNPOINT AND STILL LOSE]]></title><description><![CDATA[THE HORMUZ GAMBIT, OR: HOW TO HOLD THE WORLD AT GUNPOINT AND STILL LOSE March 21, 2026 Somewhere in a windowless room in Foggy Bottom, someone in their fifties is staring at a map of the Persian Gulf and]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/the-hormuz-gambit-or-how-to-hold-the-world-at-gunpoint-and-still-lose</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/the-hormuz-gambit-or-how-to-hold-the-world-at-gunpoint-and-still-lose</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Sat, 21 Mar 2026 06:05:30 GMT</pubDate></item><item><title><![CDATA[Europe Has Been Here Before. That's the Problem.]]></title><description><![CDATA[Europe Has Been Here Before. That's the Problem. March 20, 2026 The last time European gas storage sat at 29%, it was the autumn of 2021, and the continent was about to spend the better part of two years]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/europe-has-been-here-before-thats-the-problem</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/europe-has-been-here-before-thats-the-problem</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Fri, 20 Mar 2026 06:49:54 GMT</pubDate></item><item><title><![CDATA[Notes Toward a Theory of Why Everything Fell Today]]></title><description><![CDATA[Notes Toward a Theory of Why Everything Fell Today Stream of consciousness recorded somewhere between the PPI print and the close 8:31 a.m. The BLS drops the February PPI and for a moment nobody moves.]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/notes-toward-a-theory-of-why-everything-fell-today</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/notes-toward-a-theory-of-why-everything-fell-today</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Thu, 19 Mar 2026 04:58:33 GMT</pubDate></item><item><title><![CDATA[The Weekend That Ate the Playbook]]></title><description><![CDATA[The Weekend That Ate the Playbook February 28, 2026. A Saturday. US and Israeli jets are over Iran. Supreme Leader Khamenei is dead within hours. Over $128 billion in crypto market cap vaporises before]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/the-weekend-that-ate-the-playbook</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/the-weekend-that-ate-the-playbook</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Wed, 18 Mar 2026 04:48:51 GMT</pubDate></item><item><title><![CDATA[The $1 Trillion Party Happening Downstairs]]></title><description><![CDATA[Internal Memo: Re: The $1 Trillion Party Happening Downstairs TO: Anyone still looking at both screens at once FROM: The part of your brain that notices things RE: The most expensive cognitive dissonance]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/the-dollar1-trillion-party-happening-downstairs</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/the-dollar1-trillion-party-happening-downstairs</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Tue, 17 Mar 2026 06:19:27 GMT</pubDate></item><item><title><![CDATA[Stream of consciousness, Monday morning, coffee still hot, markets already broken]]></title><description><![CDATA[NOTES FROM INSIDE THE NOISE Stream of consciousness, Monday morning, coffee still hot, markets already broken. Open the terminal. Futures down. Again. Dollar up. Again. Oil — don't even look at oil. You]]></description><link>http://direct.ecency.com/hive-engine/@thauerbyi/stream-of-consciousness-monday-morning-coffee-still-hot-markets-already-broken</link><guid isPermaLink="true">http://direct.ecency.com/hive-engine/@thauerbyi/stream-of-consciousness-monday-morning-coffee-still-hot-markets-already-broken</guid><category><![CDATA[hive-engine]]></category><dc:creator><![CDATA[thauerbyi]]></dc:creator><pubDate>Mon, 16 Mar 2026 07:48:45 GMT</pubDate></item></channel></rss>