Podcasts about futures contracts

We breakdown what went right and what went wrong for the Pittsburgh Steelers in the 2025 season. We also go over the 15 players signed to futures contracts and who we should to be excited about. Go Steelers! 

TakeawaysThe lower the exchange certified stocks go, the more dangerous it is for the liquidity of the market.Liquidity is crucial for the stability of financial markets.Futures contracts require underlying assets to guarantee their value.A futures contract is essentially a promise to buy or sell an asset at a predetermined price.Market participants must trust that they can execute futures contracts without issues.The relationship between certified stocks and market liquidity is significant.Understanding futures contracts is essential for navigating financial markets.Market liquidity impacts the overall economy and investor confidence.The dynamics of supply and demand play a critical role in market liquidity.Effective risk management strategies are necessary for dealing with futures contracts. Ice Coffee C Daily Stocks Part of The Exchange Coffee Podcasting Network TAKE OUR LISTENER SURVEY Visit and Explore Covoya!

In this episode we answer emails from Ron, Mark, Rick and Keith.  We revel in your generosity and discuss the mechanics of monthly withdrawals and how rebalancing smooths that over, modelling portfolio with money going in and money going out, and a follow up on portfolios employing futures contracts as leverage.  And gooooold!  And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Additional Links:Father McKenna Center Donation Page:  Donate - Father McKenna CenterOur South Africa Trip Video Playlist:  Penguins in Cape TownRemembering Gov. Schaefer:  The Eastern Shore remembers SchaeferRecent Bigger Pockets Money Episode Mentioning RP Portfolios:  FIRE is Dead...and Here's What Replaced ItPortfolio Visualizer Financial Goals Tool:  Financial GoalsAccumulating in a Golden Ratio Portfolio Article:  Minimize Your Miss – Portfolio ChartsKeith's Portfolio Backtest:  https://testfol.io/?s=9Am02OVX6XDBreathless Unedited AI-Bot Summary:Gold doesn't care about narratives, and this year it's rewriting a lot of them. We walk through what a powerful gold run means for real-world withdrawals, safe withdrawal rates, and the way diversified portfolios shoulder risk when the regime shifts. From the Golden Butterfly and Golden Ratio to return-stacked experiments, we review performance, drawdowns, and why structural diversification—equities, Treasuries, gold, real assets, and managed futures—often beats clever timing when you're spending from your nest egg.We also open the donor mailbag with sharp questions from listeners practicing monthly withdrawals ahead of retirement. Should you fund withdrawals from accumulated cash or trim recent winners? How much does trade timing matter at month-end? We share simple rules that reduce friction: let dividends build a cash buffer, sell strength back to targets, and rely on periodic rebalancing to correct small timing errors. For those using volatile tools like UPRO, TMF, or crypto, we explain why defined targets and a steady cadence matter more than chasing the “perfect” price.Futures curious? We touch on financing costs, collateral choices, and the risk realities of leverage, including why even elegant models must respect max drawdown. Along the way, we challenge the habit of erasing the 1970s from gold analysis and highlight how data-driven diversification can protect retirees from sequence risk. Whether you're simulating withdrawals or already living on your portfolio, you'll get practical tactics and a clearer lens for portfolio design.If this resonates, follow the show, leave a review, and share it with someone planning their retirement drawdown. And if you want your question answered sooner, support the Father McKenna Center through our site—every donation helps and moves you to the front of the line.Support the show

- Netanyahu's Threats and Government Shutdown (0:10) - Netanyahu's Genocidal Intentions and U.S. Support (5:26) - Trump's Support for Netanyahu and Escalating Conflict (9:12) - Economic Implications and Global Conflict (18:24) - Israel's Genocidal Actions and U.S. Response (29:44) - Economic Collapse and Financial Preparation (51:07) - Advancements in AI and Coding (52:57) - Interview with David Morgan: Silver Market Analysis (58:12) - The Role of Physical Demand in Silver Prices (1:09:55) - China's Gold Stockpiling and Market Manipulation (1:20:55) - Market Strategies and Futures Contracts (1:23:12) - Silver Market Dynamics and Investment Strategies (1:28:43) - The Morgan Report and Investment Resources (1:30:48) - Gold Revaluation and Financial System Collapse (1:38:21) - State Depositories and Alternative Currencies (1:41:49) - Generational Financial Challenges and Investment Advice (1:47:32) - The Role of Gold in Financial Stability (1:47:54) - The Future of Money and Financial Systems (1:52:15) - Final Thoughts and Investment Strategies (1:53:36) For more updates, visit: http://www.brighteon.com/channel/hrreport  NaturalNews videos would not be possible without you, as always we remain passionately dedicated to our mission of educating people all over the world on the subject of natural healing remedies and personal liberty (food freedom, medical freedom, the freedom of speech, etc.). Together, we're helping create a better world, with more honest food labeling, reduced chemical contamination, the avoidance of toxic heavy metals and vastly increased scientific transparency. ▶️ Every dollar you spend at the Health Ranger Store goes toward helping us achieve important science and content goals for humanity: https://www.healthrangerstore.com/ ▶️ Sign Up For Our Newsletter: https://www.naturalnews.com/Readerregistration.html ▶️ Brighteon: https://www.brighteon.com/channels/hrreport ▶️ Join Our Social Network: https://brighteon.social/@HealthRanger ▶️ Check In Stock Products at: https://PrepWithMike.com

Matt Wraith, CTO of Bitnomial, breaks down Bitcoin futures markets, fork futures trading, and quantum computing risks. Deep dive into physical delivery, market mechanics, and how chain splits create unique trading opportunities.Matt Wraith, CTO of Bitnomial, joins us to talk about the intricate world of Bitcoin futures trading. From explaining physical delivery vs cash-settled futures to exploring the wild possibilities of fork futures markets, Matt breaks down complex market mechanics with real-world examples. We dive into how chain splits could be traded, the quantum computing threat to Bitcoin, and why having oil storage matters when futures go negative.Subscribe to the newsletter! https://newsletter.blockspacemedia.comNotes:- Bitnomial founded 2014, launched futures 2020- Oil futures went negative in March 2020- Bitcoin Cash hashrate flipped BTC post-fork- Quantum computer threat "5 years away for 30 years"- Physical delivery requires actual BTC transfer- Fork futures first appeared during SegWit debateTimestamps:00:00 Start01:09 Founding Bitnomial03:32 Regulatory changes05:16 CTO role06:09 Multiple hats07:29 Futures10:08 History of futures12:38 Physical delivery14:48 Storage costs17:25 Clearing house18:27 Cash settled21:22 Bitcoin futures history25:23 Forks & futures37:02 Assets on Bitcoin41:22 Restrictions on futures45:04 Black Swan pricing48:18 Quantum52:52 Presidio Bitcoin Quantum Conference55:36 Futures as governance-

We are calling for the world's best AI Engineer talks for AI Architects, /r/localLlama, Model Context Protocol (MCP), GraphRAG, AI in Action, Evals, Agent Reliability, Reasoning and RL, Retrieval/Search/RecSys , Security, Infrastructure, Generative Media, AI Design & Novel AI UX, AI Product Management, Autonomy, Robotics, and Embodied Agents, Computer-Using Agents (CUA), SWE Agents, Vibe Coding, Voice, Sales/Support Agents at AIEWF 2025! Fill out the 2025 State of AI Eng survey for $250 in Amazon cards and see you from Jun 3-5 in SF!Coreweave's now-successful IPO has led to a lot of questions about the GPU Neocloud market, which Dylan Patel has written extensively about on SemiAnalysis. Understanding markets requires an interesting mix of technical and financial expertise, so this will be a different kind of episode than our usual LS domain.When we first published $2 H100s: How the GPU Rental Bubble Burst, we got 2 kinds of reactions on Hacker News:* “Ah, now the AI bubble is imploding!”* “Duh, this is how it works in every GPU cycle, are you new here?”We don't think either reaction is quite right. Specifically, it is not normal for the prices of one of the world's most important resources right now to swing from $1 to $8 per hour based on drastically inelastic demand AND supply curves - from 3 year lock-in contracts to stupendously competitive over-ordering dynamics for NVIDIA allocations — especially with increasing baseline compute needed for even the simplest academic ML research and for new AI startups getting off the ground.We're fortunate today to have Evan Conrad, CEO of SFCompute, one of the most exciting GPU marketplace startups, talk us through his theory of the economics of GPU markets, and why he thinks CoreWeave and Modal are well positioned, but Digital Ocean and Together are not.However, more broadly, the entire point of SFC is creating liquidity between GPU owners and consumers and making it broadly tradable, even programmable:As we explore, these are the primitives that you can then use to create your own, high quality, custom GPU availability for your time and money budget, similar to how Amazon Spot Instances automated the selective buying of unused compute.The ultimate end state of where all this is going is GPU that trade like other perishable, staple commodities of the world - oil, soybeans, milk. Because the contracts and markets are so well established, the price swings also are not nearly as drastic, and people can also start hedging and managing the risk of one of the biggest costs of their business, just like we have risk-managed commodities risks of all other sorts for centuries. As a former derivatives trader, you can bet that swyx doubleclicked on that…Show Notes* SF Compute* Evan Conrad* Ethan Anderson* John Phamous* The Curve talk* CoreWeave* Andromeda ClusterFull Video PodLike and subscribe!Timestamps* [00:00:05] Introductions* [00:00:12] Introduction of guest Evan Conrad from SF Compute* [00:00:12] CoreWeave Business Model Discussion* [00:05:37] CoreWeave as a Real Estate Business* [00:08:59] Interest Rate Risk and GPU Market Strategy Framework* [00:16:33] Why Together and DigitalOcean will lose money on their clusters* [00:20:37] SF Compute's AI Lab Origins* [00:25:49] Utilization Rates and Benefits of SF Compute Market Model* [00:30:00] H100 GPU Glut, Supply Chain Issues, and Future Demand Forecast* [00:34:00] P2P GPU networks* [00:36:50] Customer stories* [00:38:23] VC-Provided GPU Clusters and Credit Risk Arbitrage* [00:41:58] Market Pricing Dynamics and Preemptible GPU Pricing Model* [00:48:00] Future Plans for Financialization?* [00:52:59] Cluster auditing and quality control* [00:58:00] Futures Contracts for GPUs* [01:01:20] Branding and Aesthetic Choices Behind SF Compute* [01:06:30] Lessons from Previous Startups* [01:09:07] Hiring at SF ComputeTranscriptAlessio [00:00:05]: Hey everyone, welcome to the Latent Space podcast. This is Alessio, partner and CTO at Decibel, and I'm joined by my co-host Swyx, founder of Smol AI.Swyx [00:00:12]: Hey, and today we're so excited to be finally in the studio with Evan Conrad from SF Compute. Welcome. I've been fortunate enough to be your friend before you were famous, and also we've hung out at various social things. So it's really cool to see that SF Compute is coming into its own thing, and it's a significant presence, at least in the San Francisco community, which of course, it's in the name, so you couldn't help but be. Evan: Indeed, indeed. I think we have a long way to go, but yeah, thanks. Swyx: Of course, yeah. One way I was thinking about kicking on this conversation is we will likely release this right after CoreWeave IPO. And I was watching, I was looking, doing some research on you. You did a talk at The Curve. I think I may have been viewer number 70. It was a great talk. More people should go see it, Evan Conrad at The Curve. But we have like three orders of magnitude more people. And I just wanted to, to highlight, like, what is your analysis of what CoreWeave did that went so right for them? Evan: Sell locked-in long-term contracts and don't really do much short-term at all. I think like a lot of people had this assumption that GPUs would work a lot like CPUs and the like standard business model of any sort of CPU cloud is you buy commodity hardware, then you lay on services that are mostly software, and that gives you high margins and pretty much all your value comes from those services. Not really the underlying. Compute in any capacity and because it's commodity hardware and it's not actually that expensive, most of that can be sort of on-demand compute. And while you do want locked-in contracts for folks, it's mostly just a sort of de-risk situation. It helps you plan revenue because you don't know if people are going to scale up or down. But fundamentally, people are like buying hourly and that's how your business is structured and you make 50 percent margins or higher. This like doesn't really work in GPUs. And the reason why it doesn't work is because you end up with like super price sensitive customers. And that isn't because necessarily it's just way more expensive, though that's totally the case. So in a CPU cloud, you might have like, you know, let's say if you had a million dollars of hardware in GPUs, you have a billion dollars of hardware. And so your customers are buying at much higher volumes than you otherwise expect. And it's also smaller customers who are buying at higher amounts of volume. So relative to what they're spending in general. But in GPUs in particular, your customer cares about the scaling law. So if you take like Gusto, for example, or Rippling or an HR service like this, when they're buying from an AWS or a GCP, they're buying CPUs and they're running web servers, those web servers, they kind of buy up to the capacity that they need, they buy enough, like CPUs, and then they don't buy any more, like, they don't buy any more at all. Yeah, you have a chart that goes like this and then flat. Correct. And it's like a complete flat. It's not even like an incremental tiny amount. It's not like you could just like turn on some more nodes. Yeah. And then suddenly, you know, they would make an incremental amount of money more, like Gusto isn't going to make like, you know, 5% more money, they're gonna make zero, like literally zero money from every incremental GPU or CPU after a certain point. This is not the case for anyone who is training models. And it's not the case for anyone who's doing test time inference or like inference that has scales at test time. Because like you, your scaling laws mean that you may have some diminishing returns, but there's always returns. Adding GPUs always means your model does actually get. And that actually does translate into revenue for you. And then for test time inference, you actually can just like run the inference longer and get a better performance. Or maybe you can run more customers faster and then charge for that. It actually does translate into revenue. Every incremental GPU translates to revenue. And what that means from the customer's perspective is you've got like a flat budget and you're trying to max the amount of GPUs you have for that budget. And it's very distinctly different than like where Augusto or Rippling might think, where they think, oh, we need this amount of CPUs. How do we, you know, reduce that? How do we reduce our amount of money that we're spending on this to get the same amount of CPUs? What that translates to is customers who are spending in really high volume, but also customers who are super price sensitive, who don't give a s**t. Can I swear on this? Can I swear? Yeah. Who don't give a s**t at all about your software. Because a 10% difference in a billion dollars of hardware is like $100 million of value for you. So if you have a 10% margin increase because you have great software, on your billion, the customers are that price sensitive. They will immediately switch off if they can. Because why wouldn't you? You would just take that $100 million. You'd spend $50 million on hiring a software engineering team to replicate anything that you possibly did. So that means that the best way to make money in GPUs was to do basically exactly what CoreWeave did, which is go out and sign only long-term contracts, pretty much ignore the bottom end of the market completely, and then maximize your long-term contracts. With customers who don't have credit risk, who won't sue you, or are unlikely to sue you for frivolous reasons. And then because they don't have credit risk and they won't sue you for frivolous reasons, you can go back to your lender and you can say, look, this is a really low risk situation for us to do. You should give me prime, prime interest rate. You should give me the lowest cost of capital you possibly can. And when you do that, you just make tons of money. The problem that I think lots of people are going to talk about with CoreWeave is it doesn't really look like a cloud platform. It doesn't really look like a cloud provider financially. It also doesn't really look like a software company financially.Swyx [00:05:37]: It's a bank.Evan [00:05:38]: It's a bank. It's a real estate company. And it's very hard to not be that. The problem of that that people have tricked themselves into is thinking that CoreWeave is a bad business. I don't think CoreWeave is explicitly a bad business. There's a bunch of people, there's kind of like two versions of the CoreWeave take at the moment. There's, oh my God, CoreWeave, amazing. CoreWeave is this great new cloud provider competitive with the hyperscalers. And to some extent, this is true from a structural perspective. Like, they are indeed a real sort of thing against the cloud providers in this particular category. And the other take is, oh my gosh, CoreWeave is this horrible business and so on and blah, blah, blah. And I think it's just like a set of perception or perspective. If you think CoreWeave's business is supposed to look like the traditional cloud providers, you're going to be really upset to learn that GPUs don't look like that at all. And in fact, for the hyperscalers, it doesn't look like this either. My intuition is that the hyperscalers are probably going to lose a lot of money, and they know they're going to lose a lot of money on reselling NVIDIA GPUs, at least. Hyperscalers, but I want to, Microsoft, AWS, Google. Correct, yeah. The Microsoft, AWS, and Google. Does Google resell? I mean, Google has TPUs. Google has TPUs, but I think you can also get H100s and so on. But there are like two ways they can make money. One is by selling to small customers who aren't actually buying in any serious volume. They're testing around, they're playing around. And if they get big, they're immediately going to do one of two things. They're going to ask you for a discount. Because they're not going to pay your crazy sort of margin that you have locked into your business. Because for CPUs, you need that. They're going to pay your massive per hour price. And so they want you to sign a long-term contract. And so that's your other way that you can make money, is you can basically do exactly what CoreWeave does, which is have them pay as much as possible upfront and lock in the contract for a long time. Or you can have small customers. But the problem is that for a hyperscaler, the GPUs to... To sell on the low margins relative to what your other business, your CPUs are, is a worse business than what you are currently doing. Because you could have spent the same money on those GPUs. And you could have trained model and you could have made a model on top of it and then turn that into a product and had high margins from your product. Or you could have taken that same money and you could have competed with NVIDIA. And you could have cut into their margin instead. But just simply reselling NVIDIA GPUs doesn't work like your CPU business. Where you're able to capture high margins from big customers and so on. And then they never leave you because your customers aren't actually price sensitive. And so they won't switch off if your prices are a little higher. You actually had a really nice chart, again, on that talk of this two by two. Sure. Of like where you want to be. And you also had some hot takes on who's making money and who isn't. Swyx: So CoreUv locked up long-term contracts. Get that. Yes. Maybe share your mental framework. Just verbally describe it because we're trying to help the audio listeners as well. Sure. People can look up the chart if they want to. Evan: Sure. Okay. So this is a graph of interest rates. And on the y-axis, it's a probability you're able to sell your GPUs from zero to one. And on the x-axis, it's how much they'll depreciate in cost from zero to one. And then you had ISO cost curves or ISO interest rate curves. Yeah. So they kind of shape in a sort of concave fashion. Yeah. The lowest interest rates enable the most aggressive. form of this cost curve. And the higher interest rates go, the more you have to push out to the top right. Yeah. And then you had some analysis of where every player sits in this, including CoreUv, but also Together and Modal and all these other guys. I thought that was super insightful. So I just wanted to elaborate. Basically, it's like a graph of risk and the genres of places where you can be and what the risk is associated with that. The optimal thing for you to do, if you can, is to lock in long-term contracts that are paid all up front or in with a situation in which you trust the other party to pay you over time. So if you're, you know, selling to Microsoft or something or OpenAI. Which are together 77% of the revenue of CoreUv. Yeah. So if you're doing that, that's a great business to be in because your interest rate that you can pitch for is really low because no one thinks Microsoft is going to default. And like maybe OpenAI will default, but the backing by Microsoft kind of doesn't. And I think there's enough, like, generally, it looks like OpenAI is winning that you can make it's just a much better case than if you're selling to the pre-seed startup that just raised $30 million or something pre-revenue. It's like way easier to make the case that the OpenAI is not going to default than the pre-seed startup. And so the optimal place to be is selling to the maximally low risk customer for as long as possible. And then you never have to worry about depreciation and you make lots of money. The less. Good. Good place to be is you could sell long-term contracts to people who might default on you. And then if you're not bringing it to the present, so you're not like saying, hey, you have to pay us all up front, then you're in this like more risky territory. So is it top left of the chart? If I have the chart right, maybe. Large contracts paid over time. Yeah. Large contracts paid over time is like top left. So it's more risky, but you could still probably get away with it. And then the other opportunity is that you could sell short-term contracts for really high prices. And so lots of people tried that too, because this is actually closer to the original business model that people thought would work in cloud providers for CPUs. It works for CPUs, but it doesn't really work for GPUs. And I don't think people were trying this because they were thinking about the risk associated with it. I think a lot of people are just come from a software background, have not really thought about like cogs or margins or inventory risk or things that you have to worry about in the physical world. And I think they were just like copy pasting the same business model onto CPUs. And also, I remember fundraising like a few years ago. And I know based on. Like what we knew other people were saying who were in a very similar business to us versus what we were saying. And we know that our pitch was way worse at the time, because in the beginning of SF Compute, we looked very similar to pretty much every other GPU cloud, not on purpose, but sort of accidentally. And I know that the correct pitch to give to an investor was we will look like a traditional CPU cloud with high margins and we'll sell to everyone. And that is a bad business model because your customers are price sensitive. And so what happens is if you. Sell at high prices, which is the price that you would need to sell it in order to de-risk your loss on the depreciation curve, and specifically what I mean by that is like, let's say you're selling it like $5 an hour and you're paying $1.50 an hour for the GPU under the hood. It's a little bit different than that, but you know, nice numbers, $5 an hour, $1.50 an hour. Great. Excellent. Well, you're charging a really high price per GPU hour because over time the price will go down and you'll get competed out. And what you need is to make sure that you never go under, or if you do go under your underlying cost. You've made so much money in the first part of it that the later end of it, like doesn't matter because from the whole structure of the deal, you've made money. The problem is that just, you think that you're going to be able to retain your customers with software. And actually what happens is your customers are super price sensitive and push you down and push you down and push you down and push you down, um, that they don't care about your software at all. And then the other problem that you have is you have, um, really big players like the hyperscalers who are looking to win the market and they have way more money than you, and they can push down on margin. Much better than you can. And so if they have to, and they don't, they don't necessarily all the time, um, I think they actually keep pride of higher margin, but if they needed to, they could totally just like wreck your margin at any point, um, and push you down, which meant that that quadrant over there where you're charging a high price, um, and just to make up for the risk completely got destroyed, like did not work at all for many places because of the price sensitivity, because people could just shove you down instead that pushed everybody up to the top right-hand corner of that, which is selling short-term. Contracts for low prices paid over time, which is the worst place to be in, um, the worst financial place to be in because it has the highest interest rate, um, which means that your, um, your costs go up at the same time, your, uh, your incoming cash goes down and squeezes your margins and squeezes your margins. The nice thing for like a core weave is that most of their business is over on the, on the other sides of those quadrants that the ones that survive. The only remaining question I have with core weave, and I promise I get to ask if I can compute, and I promise this is relevant to SOF Compute in general, because the framework is important, right? Sure. To understand the company. So why didn't NVIDIA or Microsoft, both of which have more money than core weave, do core weave, right? Why didn't they do core weave? Why have this middleman when either NVIDIA or Microsoft have more money than God, and they could have done an internal core weave, which is effectively like a self-funding vehicle, like a financial instrument. Why does there have to be a third party? Your question is like... Why didn't Microsoft, or why didn't NVIDIA just do core weave? Why didn't they just set up their own cloud provider? I think, and I don't know, and so correct me if I'm wrong, and lots of people will have different opinions here, or I mean, not opinions, they'll have actual facts that differ from my facts. Those aren't opinions. Those are actually indeed differences of reality, is that NVIDIA doesn't want to compete with their customers. They make a large amount of money by selling to existing clouds. If they launched their own core weave, then it would be a lot more money. It'd make it much harder for them to sell to the hyperscalers, and so they have a complex relationship with there. So not great for them. Second is that, at least for a while, I think they were dealing with antitrust concerns or fears that if they're going through, if they own too much layers of the stack, I could imagine that could be a problem for them. I don't know if that's actually true, but that's where my mind would go, I guess. Mostly, I think it's the first one. It's that they would be competing directly with their primary customers. Then Microsoft could have done it, right? That's the other question. Yeah, so Microsoft didn't do it. And my guess is that... NVIDIA doesn't want Microsoft to do it, and so they would limit the capacity because from NVIDIA's perspective, both they don't want to necessarily launch their own cloud provider because it's competing with their customers, but also they don't want only one customer or only a few customers. It's really bad for NVIDIA if you have customer concentration, and Microsoft and Google and Amazon, like Oracle, to buy up your entire supply, and then you have four or five customers or so who pretty much get to set prices. Monopsony. Yeah, monopsony. And so the optimal thing for you is a diverse set of customers who all are willing to pay at whatever price, because if you don't, somebody else will. And so it's really optimal for NVIDIA to have lots of other customers who are all competing against each other. Great. Just wanted to establish that. It's unintuitive for people who have never thought about it, and you think about it all day long. Yeah. Swyx: The last thing I'll call out from the talk, which is kind of cool, and then I promise we'll get to SF Compute, is why will DigitalOcean and Together lose money on their clusters? Why will DigitalOcean and Together lose money on their clusters?Evan [00:16:33]: I'm going to start by clarifying that all of these businesses are excellent and fantastic. That Together and DigitalOcean and Lambda, I think, are wonderful businesses who build excellent products. But my general intuition is that if you try to couple the software and the hardware together, you're going to lose money. That if you go out and you buy a long-term contract from someone and then you layer on services, or you buy the hardware yourself and you spin it up and you get a bunch of debt, you're going to run into the same problem that everybody else did, the same problem we did, same problem the hyperscalers did. And that's exactly what the hyperscalers are doing, which is you cannot add software and make high margins like a cloud provider can. You can pitch that into investors and it will totally make sense, and it's like the correct play in CPUs, but there isn't software you could make to make this occur. If you're spending a billion dollars on hardware, you need to make a billion dollars of software. There isn't a billion dollars of software that you can realistically make, and if you do, you're going to look like SAP. And that's not a knock on SAP. SAP makes a f**k ton of money, right? Right. Right. Right. Right. There aren't that many pieces of software that you could make, that you can realistically sell, like a billion dollars of software, and you're probably not going to do it to price-sensitive customers who are spending their entire budget already on compute. They don't have any more money to give you. It's a very hard proposition to do. And so many parties have been trying to do this, like, buy their own compute, because that's what a traditional cloud does. It doesn't really work for them. You know that meme where there's, like, the Grim Reaper? And he's, like, knocking on the door, and then he keeps knocking on the next door? We have just seen door after door after door of the Grim Reeker comes by, and the economic realities of the compute market come knocking. And so the thing we encourage folks to do is if you are thinking about buying a big GPU cluster and you are going to layer on software on top, don't. There are so many dead bodies in the wake there. We would recommend not doing that. And we, as SF Compute, our entire business is structured to help you not do that. It's helped disintegrate these. The GPU clouds are fantastic real estate businesses. If you treat them like real estate businesses, you will make a lot of money. The cloud services you can make on that, all the software you want to make on that, you can do that fantastically. If you don't own the underlying hardware, if you mix these businesses together, you get shot in the head. But if you combine, if you split them, and that's what the market does, it helps you split them, it allows you to buy, like, layer on services, but just buy from the market, you can make lots of money. So companies like Modal, who don't own the underlying compute, like they don't own it, lots of money, fantastic product. And then companies like Corbeave, who are functionally like really, really good real estate businesses, lots of money, fantastic product. But if you combine them, you die. That's the economic reality of compute. I think it also splits into trading versus inference, which are different kinds of workloads. Yeah. And then, yeah, one comment about the price sensitivity thing before we leave this. This topic, I want to credit Martin Casado for coining or naming this thing, which is like, you know, you said, you said this thing about like, you don't have room for a 10% margin on GPUs for software. Yep. And Martin actually played it out further. It's his first one I ever saw doing this at large enough runs. So let's say GPT-4 and O1 both had a total trading cost of like a $500 billion is the rough estimate. When you get the $5 billion runs, when you get the $50 billion runs, it is actually makes sense to build your own. You're going to have to get into chips, like for OpenEI to get into chip design, which is so funny. I would make an ASIC for this run. Yeah, maybe. I think a caveat of that that is not super well thought about is that only works if you're really confident. It only works if you really know which chip you're going to do. If you don't, then it's a little harder. So it makes in my head, it makes more sense for inference where you've already established it. But for training there's so much like experimentation. Any generality, yeah. Yeah. The generality is much more useful. Yeah. In some sense, you know, Google's like six generations into the CPUs. Yeah. Yeah. Okay, cool. Maybe we should go into SF Compute now. Sure. Yeah.Alessio [00:20:37]: Yeah. So you kind of talked about the different providers. Why did you decide to go with this approach and maybe talk a bit about how the market dynamics have evolved since you started a company?Evan [00:20:47]: So originally we were not doing this at all. We were definitely like forced into this to some extent. And SF Compute started because we wanted to go train models for music and audio in general. We were going to do a sort of generic audio model at some points, and then we were going to do a music model at some points. It was an early company. We didn't really spec down on a particular thing. But yeah, we were going to do a music model and audio model. First thing that you do when you start any AI lab is you go out and you buy a big cluster. The thing we had seen everybody else do was they went out and they raised a really big round and then they would get stuck. Because if you raise the amount of money that you need to train a model initially, like, you know, the $50 million pre-seed, pre-revenue, your valuation is so high or you get diluted so much that you can't raise the next round. And that's a very big ask to make. And also, I don't know, I felt like we just felt like we couldn't do it. We probably could have in retrospect, but I think one, we didn't really feel like we could do it. Two, it felt like if we did, we would have been stuck later on. We didn't want to raise the big round. And so instead, we thought, surely by now, we would be able to just go out. To any provider and buy like a traditional CPU cloud would sell offer you and just buy like on demand or buy like a month or so on. And this worked for like small incremental things. And I think this is where we were basing it off. We just like assumed we could go to like Lambda or something and like buy thousands of at the time A100s. And this just like was not at all the case. So we started doing all the sales calls with people and we said, OK, well, can we just get like month to month? Can we get like one month of compute or so on? Everyone told us at the time, no. You need to have a year long contract or longer or you're out of luck. Sorry. And at the time, we were just like pissed off. Like, why won't nobody sell us a month at a time? Nowadays, we totally understand why, because it's the same economic reason. Because if you if they had sold us the month to month or so on and we canceled or so on, they would have massive risk on that. And so the optimal thing to do was to only to just completely abandon the section of the market. We didn't like that. So our plan was we were going to buy a year long contract anyway. We would use a month. And then we would. At least the other 11 months. And we were locked in for a year, but we only had to pay on every individual month. And so we did this. But then immediately we said, oh, s**t, now we have a cloud provider, not a like training models company, not an AI lab, because every 30 days we owed about five hundred thousand dollars or so and we had about five hundred thousand dollars in the bank. So that meant that every single month, if we did not sell out our cluster, we would just go bankrupt. So that's what we did for the first year of the company. And when you're in that position. You try to think how in the world you get out of that position, what that transition to is, OK, well, we tend to be pretty good at like selling this cluster every month because we haven't died yet. And so what we should do is we should go basically be like this broker for other people and we will be more like a GPU real estate or like a GPU realtor. And so we started doing that for a while where we would go to other people who had who was trying to sell like a year long contract with somebody and we'd go to another person who like maybe this person wanted six months and somebody else on six months or something and we'd like combine all these people. Together to make the deal happen and we'd organize these like one off bespoke deals that looked like basically it ended up with us taking a bunch of customers, us signing with a vendor, taking some cut and then us operating the cluster for people typically with bare metal. And so we were doing this, but this was definitely like a oh, s**t, oh, s**t, oh, s**t. How do we get out of our current situation and less of a like a strategic plan of any sort? But while we were doing this, since like the beginning of the company, we had been thinking about how to buy GPU clusters, how to sell them effectively, because we'd seen every part of it. And what we ended up with was like a book of everybody who's trying to buy and everyone is trying to sell because we were these like GPU brokers. And so that turned into what is today SF Compute, which is a compute market, which we think we are the functionally the most liquid GPU market of any capacity. Honestly, I think we're the only thing that actually is like a real market that there's like bids and asks and there's like a like a trading engine that combines everything. And so. I think we're the only place where you can do things that a market should be able to do. Like you can go on SF Compute today and you get thousands of H100s for an hour if you want. And that's because there is a price for thousands of GPUs for an hour. That is like not a thing you can reasonably do on kind of any other cloud provider because nobody should realistically sell you thousands of GPUs for an hour. They should sell it to you for a year or so on. But one of the nice things about a market is that you can buy the year on SF Compute. But then if you need to sell. Back, you can sell back as well. And that opens up all these little pockets of liquidity where somebody who's just trying to buy for a little bit of time, some burst capacity. So people don't normally buy for an hour. That's not like actually a realistic thing, but it's like the range somebody who wants, who is like us, who needed to buy for a month can actually buy for a month. They can like place the order and there is actually a price for that. And it typically comes from somebody else who's selling back. Somebody who bought a longer term contract and is like they bought for some period of time, their code doesn't work, and now they need to like sell off a little bit.Alessio [00:25:49]: What are the utilization rates at which a market? What are the utilization rates at which a market? Like this works, what do you see the usual GPU utilization rate and like at what point does the market get saturated?Evan [00:26:00]: Assuming there are not like hardware problems or software problems, the utilization rate is like near 100 percent because the price dips until the utilization is 100 percent. So the price actually has to dip quite a lot in order for the utilization not to be. That's not always the case because you just have logistical problems like you get a cluster and parts of the InfiniBand fabric are broken. And there's like some issue with some switch somewhere and so you have to take some portion of the cluster offline or, you know, stuff like this, like there's just underlying physical realities of the clusters, but nominally we have better utilization than basically anybody because, but that's on utilization of the cluster, like that doesn't necessarily translate into, I mean, I actually do think we have much better overall money made for our underlying vendors than kind of anybody else. We work with the other GPU clouds and the basic pitch to the other GPU clouds is one. So we can sell your broker so we can we can find you the long term contracts that are at the prices that you want, but meanwhile, your cluster is idle and for that we can increase your utilization and get you more money because we can sell that idle cluster for you and then the moment we find the longer, the bigger customer and they come on, you can kick off those people and then go to the other ones. You get kind of the mix of like sell your cluster at whatever price you can get on the market and then sell your cluster at the big price that you want to do for long term contract, which is your ideal business model. And then the benefit of the whole thing being on the market. Is you can pitch your customer that they can cancel their long term contract, which is not a thing that you can reasonably do if you are just the GPU cloud, if you're just the GPU cloud, you can never cancel your contract, because that introduces so much risk that you would otherwise, like not get your cheap cost of capital or whatever. But if you're selling it through the market, or you're selling it with us, then you can say, hey, look, you can cancel for a fee. And that fee is the difference between the price of the market and then the price that they paid at, which means that they canceled and you have the ability to offer that flexibility. But you don't. You don't have to take the risk of it. The money's already there and like you got paid, but it's just being sold to somebody else. One of our top pieces from last year was talking about the H100 glut from all the long term contracts that were not being fully utilized and being put under the market. You have on here dollar a dollar per hour contracts as well as it goes up to two. Actually, I think you were involved. You were obliquely quoted in that article. I think you remember. I remember because this was hidden. Well, we hid your name, but then you were like, yeah, it's us. Yeah. Could you talk about the supply and demand of H100s? Was that just a normal cycle? Was that like a super cycle because of all the VC funding that went in in 2003? What was that like? GPU prices have come down. Yeah, GPU prices have come down. And there's some part that has normal depreciation cycle. Some part of that is just there were a lot of startups that bought GPUs and never used them. And now they're lending it out and therefore you exist. There's a lot of like various theories as to why. This happened. I dislike all of them because they're all kind of like they're often said with really high confidence. And I think just the market's much more complicated than that. Of course. And so everything I'm going to say is like very hedged. But there was a series of like places where a bunch of the orders were placed and people were pitching to their customers and their investors and just the broader market that they would arrive on time. And that is not how the world works. And because there was such a really quick build out of things, you would end up with bottlenecks in the supply chain somewhere that has nothing to do with necessarily the chip. It's like the InfiniBand cables or the NICs or like whatever. Or you need a bunch of like generators or you don't have data center space or like there's always some bottleneck somewhere else. And so a lot of the clusters didn't come online within the period of time. But then all the bottlenecks got sorted out and then they all came online all at the same time. So I think you saw a short. There was a shortage because supply chain hard. And then you saw a increase or like a glut because supply chain eventually figure itself out. And specifically people overordered in order to get the allocation that they wanted. Then they got the allocations and then they went under. Yeah, whatever. Right. There was just a lot of shenanigans. A caveat of this is every time you see somebody like overordered, there is this assumption that the problem was like the demand went down. I don't think that's the case at all. And so I want to clarify that. It definitely seems like a shortage. Like there's more demand for GPUs than there ever was. It's just that there was also more supply. So at the moment, I think there is still functionally a glut. But the difference that I think is happening is mostly the test time inference stuff that you just need way more chips for that than you did before. And so whenever you make a statement about the current market, people sort of take your words and then they assume that you're making a statement about the future market. And so if you say there's a glut now, people will continue to think there's a glut. But I think what is happening at the moment. My general prediction is that like by the winter, we will be back towards shortage. But then also, this very much depends on the rollout of future chips. And that comes with its own. I think I'm trying to give you like a good here's Evan's forecast. Okay. But I don't know if my forecast is right. You don't have to. Nobody is going to hold you to it. But like I think people want to know what's true and what's not. And there's a lot of vague speculations from people who are not that close to the market actually. And you are. I think I'm a closer. Close to the market, but also a vague speculator. Like I think there are a lot of really highly confident speculators and I am indeed a vague speculator. I think I have more information than a lot of other people. And this makes me more vague of a spectator because I feel less certain or less confident than I think a lot of other people do. The thing I do feel reasonably confident about saying is that the test time inference is probably going to quite significantly expand the amount of compute that was used for inference. So a caveat. This is like pretty much all the inference demand is in a few companies. A good example is like lots of bio and pharma was using H100s training sort of the bio models of sorts. And they would come along and they would buy, you know, thousands of H100s for training and then just like not a lot of stuff for inference. Not in any, not relative to like an opening iron anthropic or something because they like don't have a consumer product. Their inference event, if they can do it right. There's really like only one inference event that matters. And obviously I think they're going to run into it. And Batch and they're not going to literally just run one inference event. But like the one that produces the drug is the important one. Right. And I'm dumb and I don't know anything about biology, so I could be completely wrong here. But my understanding is that's kind of the gist. I can check that for you. You can check that for me. Check that for me. But my understanding is like the one that produces the sequence that is the drug that, you know, cures cancer or whatever. That's the important deal. But like a lot of models look like this where they're sort of more enterprising use cases or they're so prior to something that looks like test time inference. You got lots and lots of demand for training and then pretty much entirely fell off for inference. And I think like we looked at like Open Router, for example, the entirety of Open Router that was not anthropic or like Gemini or OpenAI or something. It was like 10 H100 nodes or something like that. It's just like not that much. It's like not that many GPUs actually to service that entire demand. But that's like a really sizable portion of the sort of open source market. But the actual amount of compute needed for it was not that much. But if you imagine like what an OpenAI needs for like GPT-4, it's like tremendously big. But that's because it's a consumer product that has almost all the inference demand. Yeah, that's a message we've had. Roughly open source AI compared to closed AI is like 5%. Yeah, it's like super small. Super small. It's super small. Super small. But test time inference changes that quite significantly. So I will... I will expect that to increase our overall demand. But my question on whether or not that actually affects your compute price is entirely based on how quickly do we roll out the next chips. The way that you burst is different for test time.Alessio [00:34:01]: Any thoughts on the third part of the market, which is the more peer-to-peer distributed, some are like crypto-enabled, like Hyperbolic, Prime Intellect, and all of that. Where do those fit? Like, do you see a lot of people will want to participate in a peer-to-peer market? Or just because of the capital requirements at the end of the day, it doesn't really matter?Evan [00:34:20]: I'm like wildly skeptical of these, to be frankly. The dream is like steady at home, right? I got this $15.90. Nobody has $15.90. $14.90 sitting at home. I can rent it out. Yeah. Like, I just don't really think this is going to ever be more efficient than a fully interconnected cluster with InfiniBand or, you know, whatever the sort of next spec might be. Like, I could be completely wrong. But speaking of... I mean, like, SpeedoLite is really hard to beat. And regardless of whatever you're using, you just like can't get around that physical limitation. And so you could like imagine a decentralized market that still has a lot of places where there's like co-location. But then you would get something that looks like SF Compute. And so that's what we do. That's why we take our general take is like on SF Compute, you're not buying from like random people. You're buying from the other GPU clouds, functionally. You're buying from data centers that are the same genre of people that you would work with already. And you can specify, oh, I want all these nodes to be co-located. And I don't think you're really going to get around that. And I think I buy crypto for the purposes of like transferring money. Like the financial system is like quite painful and so on. I can understand the uses of it to sort of incentivize an initial market or try to get around the cold start problem. We've been able to get around the cold start problem just fine. So it didn't actually need that at all. What I do think is totally possible is you could launch a token and then you could like subsidize the crypto. You could compute prices for a bit, but like maybe that will help you. I think that's what Nuus is doing. Yeah, I think there's lots of people who are trying to do things like this, but at some point that runs out. So I would, I think generally agree. I think the only thread in that model is very fine grained mixture of experts that can be like algorithms can shift to adapt to hardware realities. And the hardware reality is like, okay, it's annoying to do large co-located clusters. Then we'll just redesign attention or whatever in our architecture to distribute it more. There was a little bit buzz of block attention last year that Strong Compute made a big push on. But I think like, you know, in a world where we have 200 experts in MOE model, it starts to be a little bit better. Like, I don't disagree with this. I can imagine the world in which you have like, in which you've redesigned it to be more parallelizable, like across space.Evan [00:36:43]: But assuming without that, your hardware limitation is your speed of light limitation. And that's a very hard one to get around.Alessio [00:36:50]: Any customers or like stories that you want to shout out of like maybe things that wouldn't have been economically viable like others? I know there's some sensitivity on that.Evan [00:37:00]: My favorites are grad students, are folks who are trying to do things that would normally otherwise require the scale of a big lab. And the grad students are like the worst pilots. They're like the worst possible customer for the traditional GPU clouds because they will immediately turn if you sell them a thing because they're going to graduate and they're not going to go anywhere. They're not going to like, that project isn't continuing to spend lots of money. Like sometimes it does, but not if you're like working with the university or you're working with the lab of some sort. But a lot of times it's just like the ability for us to offer like big burst capacity, I think is lovely and wonderful. And it's like one of my favorite things to do because all those folks look like we did. And I have a special place in my heart for that. I have a special place in my heart for young hackers and young grad students and researchers who are trying to do the same genre of thing that we are doing. For the same reason, I have a special place in my heart for like the startups, the people who are just actively trying to compete on the same scale, but can't afford it time-wise, but can afford it spike-wise. Yeah, I liked your example of like, I have a grant of 100K and it's expiring. I got to spend it on that. That's really beautiful. Yeah. Interesting. Has there been interesting work coming out of that? Anything you want to mention? Yeah. So from like a startup perspective, like Standard Intelligence and Find, P-H-I-N-D. We've had them on the pod.Swyx [00:38:23]: Yeah. Yeah.Evan [00:38:23]: That was great. And then from grad students' perspective, we worked a lot with like the Schmidt Futures grantees of various sorts. My fear is if I talk about their research, I will be completely wrong to a sort of almost insulting degree because I am very dumb. But yeah. I think one thing that's maybe also relevant startups and GPUs-wise. Yeah. Is there was a brief moment where it kind of made sense that VCs provided GPU clusters. And obviously you worked at AI Grants, which set up Andromeda, which is supposedly a $100 million cluster. Yeah. I can explain why that's the case or why anybody would think that would be smart. Because I remember before any of that happened, we were asking for it to happen. Yeah. And the general reason is credit risk. Again, it's a bank. Yeah. I have lower risk than you due to credit transformation. I take your risk onto my balance sheet. Correct. Exactly. If you wanted to go for a while, if you wanted to go set up a GPU cluster, you had to be the one that actually bought the hardware and racked it and stacked it, like co-located it somewhere with someone. Functionally, it was like on your balance sheet, which means you had to get a loan. And you cannot get a loan for like $50 million as a startup. Like not really. You can get like venture debt and stuff, but like it's like very, very difficult to get a loan of any serious price for that. But it's like not that difficult to get a loan for $50 million. If you already have a fund or you already have like a million dollars under your assets somewhere or like you personally can like do a personal guarantee for it or something like this. If you have a lot of money, it is way easier for you to get a loan than if you don't have a lot of money. And so the hack of a VC or some capital partner offering equity for compute is always some arbitrage on the credit risk. That's amazing. Yeah. That's a hack. You should do that. I don't think people should do it right now. I think the market has like, I think it made sense at the time and it was helpful and useful for the people who did it at the time. But I think it was a one-time arbitrage because now there are lots of other sources that can do it. And also I think like it made sense when no one else was doing it and you were the only person who was doing it. But now it's like it's an arbitrage that gets competed down. Sure. So it's like super effective. I wouldn't totally recommend it. Like it's great that Andromeda did it. But the marginal increase of somebody else doing it is like not super helpful. I don't think that many people have followed in their footsteps. I think maybe Andreessen did it. Yeah. That's it. I think just because pretty much all the value like flows through Andromeda. What? That cannot be true. How many companies are in the air, Grant? Like 50? My understanding of Andromeda is it works with all the NFTG companies or like several of the NFTG companies. But I might be wrong about that. Again, you know, something something. Nat, don't kill me. I could be completely wrong. But the but you know, I think Andromeda was like an excellent idea to do at the right time in which it occurred. Perfect. His timing is impeccable. Timing. Yeah. Nat and Daniel are like, I mean, there's lots of people who are like... Sears? Yeah. Sears. Like S-E-E-R. Oh, Sears. Like Sears of the Valley. Yeah. They for years and years before any of the like ChatGPT moment or anything, they had fully understood what was going to happen. Like way, way before. Like. AI Grant is like, like five years old, six years old or something like that. Seven years old. When I, when it like first launched or something. Depends where you start. The nonprofit version. Yeah. The nonprofit version was like, like happening for a while, I think. It's going on for quite a bit of time. And then like Nat and Daniel are like the early investors in a lot of the sort of early AI labs of various sorts. They've been doing this for a bit.Alessio [00:41:58]: I was looking at your pricing yesterday. We're kind of talking about it before. And there's this weird thing where one week is more expensive of both one day and one month. Yeah. What are like some of the market pricing dynamics? What are things that like this to somebody that is not in the business? This looks really weird. But I'm curious, like if you have an explanation for it, if that looks normal to you. Yeah.Evan [00:42:18]: So the simple answer is preemptible pricing is cheaper than non-preemptible pricing. And the same economic principle is the reason why that's the case right now. That's not entirely true on SF Compute. SF Compute doesn't really have the concept of preemptible. Instead, what it has is very short reservations. So, you know, you go to a traditional cloud provider and you can say, hey, I want to reserve contract for a year. We will let you do a reserve contract for one hour, which is the part of SFC. But what you can do is you can just buy every single hour continuously. And you're reserving just for that hour. And then the next hour you reserve just for that next hour. And this is obviously like a built in. This is like an automation that you can do. But what you're seeing when you see the cheap price is you're seeing somebody who's buying the next hour, but maybe not necessarily buying an hour after that. So if the price goes up. Up too much. They might not get that next hour. And the underlying part of this of where that's coming from the market is you can imagine like day old milk or like milk that's about to be old. It might drop its price until it's expired because nobody wants to buy the milk that's in the past. Or maybe you can't legally sell it. Compute is the same way. No, you can't sell a block of compute that is not that is in the past. And so what you should do in the market and what people do do is they take. They take a block. A block of compute. And then they drop it and drop it and drop it and drop into a floor price right before it's about to expire. And they keep dropping it until it clears. And so anything that is idle drops until some point. So if you go and use on the website and you set that that chart to like a week from now, what you'll see is much more normal looking sort of curves. But if you say, oh, I want to start right now, that immediate instant, here's the compute that I want right now is the is functionally the preemptible price. It's where most people are getting the best compute or like the best compute prices from. The caveat of that is you can do really fun stuff on SFC if you want. So because it's not actually preemptible, it's it's reserved, but only reserved for an hour, which means that the optimal way to use as of compute is to just buy on the market price, but set a limit price that is much higher. So you can set a limit price for like four dollars and say, oh, if the market ever happens to spike up to four dollars, then don't buy. I don't want to buy that at that price for that price. I don't want to buy that at that price for that price for an hour. But otherwise, just buy at the cheapest price. And if you're comfortable with that of the volatility of it, you're actually going to get like really good prices, like close to a dollar an hour or so on, sometimes down to like 80 cents or whatever. You said four, though. Yeah. So that's the thing. You want to lower the limit. So four is your max price. Four is like where you basically want to like pull the plug and say don't do it because the actual average price is not or like the, you know, the preemptible price doesn't actually look like that. So what you're doing when you're saying four is always, always, always give me this compute. Like continue to buy every hour. Don't preempt me. Don't kick me off. And I want this compute and just buy at the preemptible price, but never kick me off. The only times in which you get kicked off is if there is a big price spike. And, you know, let's say one day out of the year, there's like a four dollar an hour price because of some weird fluke or something. If there are other periods of time, you're actually getting a much lower price than you. It makes sense. Your your average cost that you're actually paying is way better. And your trade off here is you don't literally know what price you're going to get. So it's volatile. But your actual average historically has been like everyone who's done this has gotten wildly better prices. And this is like one of the clever things you can do with the market. If you're willing to make those trade offs, you can get a lot of really good prices. You can also do other things like you can only buy at night, for example. So the price goes down at night. And so you can say, oh, I want to only buy, you know, if the price is lower than 90 cents. And so if you have some long running job, you can make it only run on 90 cents and then you recover back and so on. Yeah. So what you can kind of create as like a spot inst is what other the CPU world has. Yes. But you've created a system where you can kind of manufacture the exact profile that you want. Exactly. That is not just whatever the hyperscalers offer you, which is usually just one thing. Correct. SF Compute is like the power tool. The underlying primitives of like hourly compute is there. Correct. Yeah, it's pretty interesting. I've often asked OpenAI. So like, you know, all these guys. Cloud as well. They do batch APIs. So it's half off of whatever your thing is. Yeah. And the only contract is we'll return in 24 hours. Sure. Right. And I was like, 24 hours is good. But sometimes I want one hour. I want four hours. I want something. And so based off of SF Compute's system, you can actually kind of create that kind of guarantee. Totally. That would be like, you know, not 24, but within eight hours, within four hours, like the work half of a workday. Yes. I can return your results to you. And then I can return it to you. And if your latency requirements are like that low, actually it's fine. Yes. Correct. Yeah. You can carve out that. You can financially engineer that on SFC. Yeah. Yeah. I mean, I think to me that unlocks a lot of agent use cases that I want, which is like, yeah, I worked in a background, but I don't want you to take a day. Yeah. Correct. Take a couple hours or something. Yeah. This touches a lot of my like background because I used to be a derivatives trader. Yeah. And this is a forward market. Yeah. A futures forward market, whatever you call it. Not a future. Very explicitly not a future. Not yet a futures. Yes. But I don't know if you have any other points to talk about. So you recognize that you are a, you know, a marketplace and you've hired, I met Alex Epstein at your launch event and you're like, you're, you're building out the financialization of GPUs. Yeah. So part of that's legal. Mm-hmm. Totally. Part of that is like listing on an exchange. Yep. Maybe you're the exchange. I don't know how that works, but just like, talk to me about that. Like from the legal, the standardization, the like, where is this all headed? You know, is this like a full listed on the Chicago Mercantile Exchange or whatever? What we're trying to do is create an underlying spot market that gives you an index price that you can use. And then with that index price, you can create a cash settled future. And with a cash settled future, you can go back to the data centers and you can say, lock in your price now and de-risk your entire position, which lets you get cheaper cost of capital and so on. And that we think will improve the entire industry because the marginal cost of compute is the risk. It's risk as shown by that graph and basically every part of this conversation. It's risk that causes the price to be all sorts of funky. And we think a future is the correct solution to this. So that's the eventual goal. Right now you have to make the underlying spot market in order to make this occur. And then to make the spot market work, you actually have to solve a lot of technology problems. You really cannot make a spot market work if you don't run the clusters, if you don't have control over them, if you don't know how to audit them, because these are super computers, not soybeans. They have to work. In a way that like, it's just a lot simpler to deliver a soybean than it is to deliver it. I don't know. Talk to the soybean guys. Sure. You know? Yeah. But you have to have a delivery mechanism. Your delivery mechanism, like somebody somewhere has to actually get the compute at some point and it actually has to work. And it is really complicated. And so that is the other part of our business that we go and we build a bare metal infrastructure stack that goes. And then also we do auditing of all the clusters. You sort of de-risk the technical perspective and that allows you to eventually de-risk the financial perspective. And that is kind of the pitch of SF Compute. Yeah. I'll double click on the auditing on the clusters. This is something I've had conversations with Vitae on. He started Rika and I think he had a blog post which kind of shone the light a little bit on how unreliable some clusters are versus others. Correct. Yeah. And sometimes you kind of have to season them and age them a little bit to find the bad cards. You have to burn them in. Yeah. So what do you do to audit them? There's like a burn-in process, a suite of tests, and then active checking and passive checking. Burn-in process is where you typically run LINPACK. LINPACK is this thing that like a bunch of linear algebra equations that you're stress testing the GPUs. This is a proprietary thing that you wrote? No, no, no. LINPACK is like the most common form of burn-in. If you just type in burn-in, typically when people say burn-in, they literally just mean LINPACK. It's like an NVIDIA reference version of this. Again, NVIDIA could run this before they ship, but now the customers have to do it. It's annoying. You're not just checking for the GPU itself. You're checking like the whole component, all the hardware. And it's a lot of work. It's an integration test. It's an integration test. Yeah. So what you're doing when you're running LINPACK or burn-in in general is you're stress testing the GPUs for some period of time, 48 hours, for example, maybe seven days or so on. And you're just trying to kill all the dead GPUs or any components in the system that are broken. And we've had experiences where we ran LINPACK on a cluster and it rounds out, sort of comes offline when you run LINPACK. This is a pretty good sign that maybe there is a problem with this cluster. Yeah. So LINPACK is like the most common sort of standard test. But then beyond that, what you do is we have like a series of performance tests that replicate a much more realistic environment as well that we run just assuming if LINPACK works at all, then you run the next set of tests. And then while the GPUs are in operation, you're also going through and you're doing active tests and passive tests. Passive tests are things that are running in the background while somebody else is running, while like some other workload is running. And active tests are during like idle periods. You're running some sort of check that would otherwise sort of interrupt something. And then the active tests will take something offline, basically. Or a passive check might mark it to get taken offline later and so on. And then the thing that we are working on that we have working partially but not entirely is automated refunds, which is basically like, is the case that the hardware breaks so much. And there's only so much that we can do and it is the effect of pretty much the entire industry. So a pretty common thing that I think happens to kind of everybody in the space is a customer comes online, they experience your cluster, and your cluster has the same problem that like any cluster has, or it's I mean, a different problem every time, but they experience one of the problems of HPC. And then their experience is bad. And you have to like negotiate a refund or some other thing like this. It's always case by case. And like, yeah, a lot of people just eat the cost. Correct. So one of the nice things about a market that we can do as we get bigger and have been doing as we can bigger is we can immediately give you something else. And then also we can automatically refund you. And you're still gonna experience it like the hardware problems aren't going away until the underlying vendors fix things. But honestly, I don't think that's likely because you're always pushing the limits of HPC. This is the case of trying to build a supercomputer. that's one of the nice things that we can do is we can switch you out for somebody else somewhere, and then automatically refund you or prorate or whatever the correct move is. One of the things that you say in this conversation with me was like, you know, you know, a provider is good when they guarantee automatic refunds. Which doesn't happen. But yeah, that's, that's in our contact with all the underlying cloud providers. You built it in already. Yeah. So we have a quite strict SLA that we pass on to you. The reason why

Evan Conrad, co-founder of SF Compute, joined us to talk about how they started as an AI lab that avoided bankruptcy by selling GPU clusters, why CoreWeave financials look like a real estate business, and how GPUs are turning into a commodities market. Chapters: 00:00:05 - Introductions 00:00:12 - Introduction of guest Evan Conrad from SF Compute 00:00:12 - CoreWeave Business Model Discussion 00:05:37 - CoreWeave as a Real Estate Business 00:08:59 - Interest Rate Risk and GPU Market Strategy Framework 00:16:33 - Why Together and DigitalOcean will lose money on their clusters 00:20:37 - SF Compute's AI Lab Origins 00:25:49 - Utilization Rates and Benefits of SF Compute Market Model 00:30:00 - H100 GPU Glut, Supply Chain Issues, and Future Demand Forecast 00:34:00 - P2P GPU networks 00:36:50 - Customer stories 00:38:23 - VC-Provided GPU Clusters and Credit Risk Arbitrage 00:41:58 - Market Pricing Dynamics and Preemptible GPU Pricing Model 00:48:00 - Future Plans for Financialization? 00:52:59 - Cluster auditing and quality control 00:58:00 - Futures Contracts for GPUs 01:01:20 - Branding and Aesthetic Choices Behind SF Compute 01:06:30 - Lessons from Previous Startups 01:09:07 - Hiring at SF Compute Chapters 00:00:00 Introduction and Background 00:00:58 Analysis of GPU Business Models 00:01:53 Challenges with GPU Pricing 00:02:48 Revenue and Scaling with GPUs 00:03:46 Customer Sensitivity to GPU Pricing 00:04:44 Core Weave's Business Strategy 00:05:41 Core Weave's Market Perception 00:06:40 Hyperscalers and GPU Market Dynamics 00:07:37 Financial Strategies for GPU Sales 00:08:35 Interest Rates and GPU Market Risks 00:09:30 Optimal GPU Contract Strategies 00:10:27 Risks in GPU Market Contracts 00:11:25 Price Sensitivity and Market Competition 00:12:21 Market Dynamics and GPU Contracts 00:13:18 Hyperscalers and GPU Market Strategies 00:14:15 Nvidia and Market Competition 00:15:12 Microsoft's Role in GPU Market 00:16:10 Challenges in GPU Market Dynamics 00:17:07 Economic Realities of the GPU Market 00:18:03 Real Estate Model for GPU Clouds 00:18:59 Price Sensitivity and Chip Design 00:19:55 SF Compute's Beginnings and Challenges 00:20:54 Navigating the GPU Market 00:21:54 Pivoting to a GPU Cloud Provider 00:22:53 Building a GPU Market 00:23:52 SF Compute as a GPU Marketplace 00:24:49 Market Liquidity and GPU Pricing 00:25:47 Utilization Rates in GPU Markets 00:26:44 Brokerage and Market Flexibility 00:27:42 H100 Glut and Market Cycles 00:28:40 Supply Chain Challenges and GPU Glut 00:29:35 Future Predictions for the GPU Market 00:30:33 Speculations on Test Time Inference 00:31:29 Market Demand and Test Time Inference 00:32:26 Open Source vs. Closed AI Demand 00:33:24 Future of Inference Demand 00:34:24 Peer-to-Peer GPU Markets 00:35:17 Decentralized GPU Market Skepticism 00:36:15 Redesigning Architectures for New Markets 00:37:14 Supporting Grad Students and Startups 00:38:11 Successful Startups Using SF Compute 00:39:11 VCs and GPU Infrastructure 00:40:09 VCs as GPU Credit Transformators 00:41:06 Market Timing and GPU Infrastructure 00:42:02 Understanding GPU Pricing Dynamics 00:43:01 Market Pricing and Preemptible Compute 00:43:55 Price Volatility and Market Optimization 00:44:52 Customizing Compute Contracts 00:45:50 Creating Flexible Compute Guarantees 00:46:45 Financialization of GPU Markets 00:47:44 Building a Spot Market for GPUs 00:48:40 Auditing and Standardizing Clusters 00:49:40 Ensuring Cluster Reliability 00:50:36 Active Monitoring and Refunds 00:51:33 Automating Customer Refunds 00:52:33 Challenges in Cluster Maintenance 00:53:29 Remote Cluster Management 00:54:29 Standardizing Compute Contracts 00:55:28 Unified Infrastructure for Clusters 00:56:24 Creating a Commodity Market for GPUs 00:57:22 Futures Market and Risk Management 00:58:18 Reducing Risk with GPU Futures 00:59:14 Stabilizing the GPU Market 01:00:10 SF Compute's Anti-Hype Approach 01:01:07 Calm Branding and Expectations 01:02:07 Promoting San Francisco's Beauty 01:03:03 Design Philosophy at SF Compute 01:04:02 Artistic Influence on Branding 01:05:00 Past Projects and Burnout 01:05:59 Challenges in Building an Email Client 01:06:57 Persistence and Iteration in Startups 01:07:57 Email Market Challenges 01:08:53 SF Compute Job Opportunities 01:09:53 Hiring for Systems Engineering 01:10:50 Financial Systems Engineering Role 01:11:50 Conclusion and Farewell

Everything you need to know about the perpetual futures market with Jennifer Sanasie and CoinDesk Indices Head of Product and Research Andy Baehr.To get the show every day, follow the podcast here.CoinDesk Indices Head of Product and Research Andy Baehr joins "Markets Daily" to discuss the difference between perpetual futures contracts and traditional futures. Find out why the product is so attractive for retail investors.This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.-Friends, DeFi is having a moment — Uniswap Labs' web app and wallet connect you to the excitement. Swapping and bridging are simple, low cost, and lightning fast across 13 chains, including Base, Arbitrum and Unichain, the new Layer 2 network designed for DeFi.Thanks to deep liquidity on Uniswap Protocols, you get minimal price impact on every trade, now with even greater efficiency through Uniswap v4.Swap, send, on-ramp, off-ramp, and bridge into a bright future — get started at uniswap.org.-This episode was hosted by Jennifer Sanasie. “Markets Daily” is produced by Jennifer Sanasie and edited by Victor Chen.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Everything you need to know about the perpetual futures market with Jennifer Sanasie and CoinDesk Indices Head of Product and Research Andy Baehr.To get the show every day, follow the podcast here.CoinDesk Indices Head of Product and Research Andy Baehr joins "Markets Daily" to discuss the difference between perpetual futures contracts and traditional futures. Find out why the product is so attractive for retail investors.This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.-Friends, DeFi is having a moment — Uniswap Labs' web app and wallet connect you to the excitement. Swapping and bridging are simple, low cost, and lightning fast across 13 chains, including Base, Arbitrum and Unichain, the new Layer 2 network designed for DeFi.Thanks to deep liquidity on Uniswap Protocols, you get minimal price impact on every trade, now with even greater efficiency through Uniswap v4.Swap, send, on-ramp, off-ramp, and bridge into a bright future — get started at uniswap.org.-This episode was hosted by Jennifer Sanasie. “Markets Daily” is produced by Jennifer Sanasie and edited by Victor Chen.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Greetings, and welcome back to the podcast. This episode, we are joined by Mr. Joe Raia - Chief Commercial Officer of Abaxx  Commodities Futures Exchange and Clearinghouse - a new Singapore based futures Exchange that is a wholly owned subsidiary of Canadian based Abaxx Technologies, a CBOE Canada listed technology company that aims to build tools for better commodity benchmarks for the energy transition. Joe is a Former Managing Director, Head of Global Commodity Futures at Goldman Sachs and Global Head of Energy and Metals Futures and Options and CME/NYMEX. Prior to his tenure at the exchange, he was the Managing Director and Global Head of Energy Markets, RJ O'Brien & Associates.He holds a Bachelor of Science from SUNY Maritime Academy, and was a licensed US Merchant Marine Captain.Among other things we discussed building a new commodities exchange, futures contracts & the investment case for LNG.Enjoy.Like the interviews & podcasts ? Consider subscribing hereThis podcast episode is sponsored by Connate Water Solutions.Do you need cost effective water sourcing options to supply your next drilling or completions program?Connate Water Solutions is a specialized hydrogeology company focused on water well drilling, testing and water management services in Western Canada and Texas.Contact info@connatewater.com or www.connatewater.com for more details.This podcast is sponsored by Headracingcanada.comLooking for high performance ski gear this winter? In partnership with 4x-Olympian Manny-Osborne Paradis, Headracingcanada.com is offering the lowest prices possible through its online storefront, by passing brick and mortar savings to customers. Check out  Headracingcanada.com for more info on high performance gear for the upcoming ski season.      Support the show

Hello everyone, it's Bill Thompson – T Bill. Some of the things covered on today's session include: Mutual Funds – The new Bitcoin Exchange Traded Funds. An explanation of Spot vs. Futures contracts. The first corporate earnings.  The Consumer Price Index and Producer Price Index Reports. 

Abaxx Chief Commercial Officer Joe Raia joins NGI's Senior LNG Editor Jamison Cocklin to discuss Abaxx's ongoing efforts to launch a new commodity exchange that will list LNG, nickel and carbon futures initially.   Abaxx's new regulated futures clearinghouse will be the first launched in over a decade. Its plans to list physically settled contracts for the three major LNG markets in Northwest Europe, North Asia and the Gulf Coast comes as the global gas market is searching for a better benchmark to manage increasing risk and volatility. Those contracts are coming closer to being a reality after the company completed its latest round of financing to secure nearly $20 million.

Honey, I shrunk the futures contracts! Since the late 1990s, mini futures contracts have been traded, representing a fraction of standard-size contracts. Then came the introduction of micro futures contracts. On this episode of Grain IQ, we'll explore mini and micro futures contracts, including what they are and how you can use them in your grain marketing plan! Fabio Mattos joins us for today's episode. He's an associate professor in the Department of Agricultural Economics at the University of Nebraska-Lincoln. Grain IQ is a production of the Nebraska Rural Radio Association, in cooperation and with support from the Nebraska Soybean Board.

In this episode, find out about fresh allegations against Adani Group on its offshore funding, also find out about Jalan Kalrock infusing Rs 100 cr in Jet Airways Business Term of the Day: Square off

Hello everyone, it's Bill Thompson – T Bill. Some of the things covered on today's session include: Investing in the S&P 500 through Mutual Funds, Closed End Funds, Options, and Futures Contracts The market's opposite than usual possible reactions to the September labor report President Biden's pardon for past marijuana possession and the effects from states that have legalized it United Airlines looking to start using electric powered airplanes Peloton lays off another 500 employees

Money Ed Podcast 74: Futures Contracts by Whitman Ochiai

I'd like to thank today's sponsor, Richey May. Richey May is a recognized leader in providing specialized advisory, audit, tax, technology and other services in the mortgage industry and in banking. The firm has also consistently been recognized as one of the fastest growing firms in the country, and has been named to the HousingWire Tech 100 in Mortgage, Accounting Today Firms to Watch, and the Fastest Growing Firms. The firm has also received multiple awards for Excellence in Firm Culture from Inside Public Accounting. To experience how Richey May can help you transform your mortgage business, visit richeymay.com.

In this episode, Oliver discuss how he uses options to make extra income in certain market environments.

In this episode James and Larry go over our trades from last week and contango and backwardation on futures contracts. CBOE VIX Options Greeks Delta Options Trading for Beginners How to trade options GOOG AMZN TSLA DWAC Selling naked puts Puts Calls Futures trading Thinkorswim Robinhood How to trade options on Robinhood Candlestick Charts How to Read Candlestick Charts Vertical Spread Iron Condor Covered Call Swing Trading Day Trading In the money Out of the money Theta Gamma Vega Synthetic Covered Call Poor mans covered call Straddle Strangle --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/wstrades/message Support this podcast: https://anchor.fm/wstrades/support

October 16, 2021   Headlines around the world are talking about a bitcoin ETF being approved. However, the ETF is not what you think it is. Today the guys discuss this and many other pertinent topics surrounding the crypto markets as Bitcoin soars back above $60,000. https://bitcoinist.com/sec-tweet-sparks-fresh-speculation-over-bitcoin-etf-approval/ https://www.cftc.gov/About/Commissioners/FormerCommissioners/ggensler.html https://causeofaction.org/jon-corzine-the-rogue-trader-that-is-too-big-to-jail/ https://www.rollingstone.com/politics/politics-news/jon-corzines-relationship-with-cftc-chair-gary-gensler-probed-60904/ https://www.linkedin.com/pulse/20140718024154-7216001-the-rise-of-the-bitcoin-empire https://www.msn.com/en-in/money/topstories/after-el-salvador-now-brazil-looks-to-accept-bitcoin-as-currency/ar-AAPfmx5 https://www.barrons.com/articles/bitcoin-crypto-financial-crisis-51634227093?siteid=yhoof2 https://www.zerohedge.com/crypto/treasury-official-warns-using-stablecoins-payments-raises-whole-set-issues https://www.zerohedge.com/crypto/putin-hints-possibility-settling-oil-trade-crypto https://decrypt.co/83276/imf-warns-stablecoins-could-pose-contagion-risk-global-financial-system https://www.zerohedge.com/markets/rabobank-if-something-simply-isnt-available-does-make-it-cheap-or-expensive https://finance.yahoo.com/news/bitcoin-100000-may-be-conservative-analyst-says-172716528.html https://www.seattletimes.com/business/u-s-overtakes-china-to-become-worlds-largest-bitcoin-mining-hub-report-finds/ https://bitinfocharts.com/comparison/hashrate-btc-eth.html#3y https://news.yahoo.com/price-pinch-global-economy-caught-095406458.html https://news.yahoo.com/ron-watkins-man-widely-rumored-104203856.html https://www.zerohedge.com/markets/here-hidden-150-trillion-agenda-behind-crusade-against-climate-change http://zububrothers.com/2021/10/09/over-1000-crew-members-are-stranded-on-abandoned-cargo-ships-globally-without-pay-or-food/ https://stats.buybitcoinworldwide.com/4y-multiple/ https://www.zerohedge.com/economics/larry-summers-slams-woke-fed-losing-control-inflation https://ycharts.com/indicators/finra_margin_debt https://linktr.ee/TimAndJohnShow Join Our email list at bit.ly/timjohnemail To learn more about John Sneisen's work please go to https://theeconomictruth.org/ Join the conversation in Tim and John's Discord community: https://discord.gg/vkxUkqg Itunes: https://bit.ly/libertyadvisor Podcasts: https://libertarianadvisor.podbean.com/ Livestreams: https://flote.app/TheLibertyadvisor You can find us on other content platforms by following the link below https://thelibertyadvisorshow.com/showlinks/     Learn more about Tim's services: www.thelibertyadvisor.com Free 15 min Investing Consultation www.bit.ly/booktimp   Subscribe to our emergency text list and receive a free ebook “How it's Rigged – The Economy” Text LibertyAdvisor (one word, no spaces) to 71441

The Cubs can sign 12 players to futures contracts. Which players might.make sense, and why? --- Support this podcast: https://anchor.fm/tim-huwe/support

10 Days of Darkness / Trump's Return (Audio) David Eells - 5/30/21 We are hearing that the ten days of darkness planned by the “white hats” are upon us.  Insiders have told us there is going to be an interruption of electricity which would bring down water, power, gasoline and diesel pumps, gas, internet, and you should act accordingly and quickly. We are told that trucking and airlines are to cease. Airlines are already going down. The trucking interruption means food will quickly begin to disappear from the store shelves. During this time they are starting up the new starlink satellites and taking out DS satellites along with the Main Stream Media. They are going to bring up a new internet that is much safer and much faster. They are going to bring down nuclear power plants and bring on line free energy. Since all of these things are connected they will try to do all of this together. How long this will actually string out we dont know. Trump is coming back and the GCR will happen along with Nesara Gesara and block chain voting on our phones and computers for the rulers of the new republic. The dominoes are falling, the states where the votes are contested are falling to Trump. The military will remove Fake Biden. Trump will quickly bring the economy back with the money the DS/Cabal stole from the people over centuries and was collected by executive order.  Be in prayer and listen to the Lord. Of course the DS/Cabal doesn't want these things because it completely cuts them out of their piece of the pie. So the timing could be disinformation to cause them to stick their head up to try to stop this.  When they make a move they take them down to Gitmo. Also we are told that special ops are executing higher ups who are engaged in pushing the murderous vaccine and lock downs. But though the timings are sometimes delayed the happenings are coming.  They already got people to stock up on gasoline by bringing down the pipelines. Declassification of criminals is all over the internet but much more will come soon with Emergency Broadcast System. UBM Disclaimer: I don't recommend going to Operation Disclosure's website regularly for it is addicting and the Lord has warned us that He wants his people to spend time in his word which has eternal value. The Bride feeds on and is a manifestation of the Word. I suggest, as always, that everyone pray and be led by the Lord and His Spirit first and foremost. I pray for everyone to have wisdom for the times ahead.   The Event, Ten Days of Darkness, Fall of the Cabal and Plan to Save the World: Operation Disclosure - 5/27/21  (David's notes in red) https://operationdisclosureofficial.com/2021/05/27/restored-republic-via-a-gcr-as-of-may-27-2021/ (On the 28th in Operation Disclosure it was reported that the Three Gorges Dam was believed to have already collapsed though everyone is trying to conceal this. I came to that conclusion before this because we were told by Q to “watch the water". Google blocked the dam out of the satellite view and a video that shows the dam was discovered to be a loop so everyone is seeing history. Viet Nam is in an historic flood and the water there had to come through that Three Gorges Dam.  Chinese cities below the dam were under water also. This fall of the dam has been said to be the first domino to fall and would cause the destruction of the Bitcoin industry and Chinese Communist Party's nukes and the slave trade, all underneath the dam. We are told by Q that “Future proves past”.  They talk about things coming in the future which have already happened. This way the enemy is left in confusion. They have lost the NSA and much of their intelligence and have to use burner phones to communicate.  This fall of the Bitcoin, which we are told will be resurrected under the new economy, leads us to the next domino's mentioned by Q here:) Q: Worldwide Events would occur, including a Bitcoin, Stock Market and global financial collapse, revelation of 2020 Election fraud that would bring down the Biden-Harris Administration, destruction of 24 Nuclear Reactors in order for GESARA to be activated and the most disturbing, revelations on the rescue of millions of severely abused children (even more found deceased) from an international child trafficking ring run by the Vatican and political and global elites. After the worldwide Events we would see the Internet & Media knocked down to bring Project Odin online: a takeover of Mass Media through the new Star-link Satellite System. (The nuke plants must come down for they will be very dangerous when P-X and the great earthquakes come.  Beside free energy has been replicated and will replace the nukes as a source of power. The elite was hiding this from us for many years in their underground cities and tunnels.  Much amazing technologies have been unearthed so to speak. As you know, Trump has promised to bring all of this out to the world.) General Michael Flynn on Wed. 26 May: “The end of the game is approaching. Pain Incoming. Nothing Can Stop What is Coming. Nothing. Where We Go One, We Go All.” Military missions and arrests continued to wipe out Cabal infrastructure in DC, Brussels (NATO headquarters), Geneva Switzerland (Octogon Group Deep State global headquarters), & Israel (Jerusalem Freemason pedosatanist psychopaths). Military tribunals were rendering justice to Cabal criminals & traitors behind the scenes. On Mon. 24 May former CIA Director John Brennan was convicted of murder & treason in a Military Tribunal (and sentenced to hang): https://realrawnews.com/2021/05/military-tribunal-convicts-john-brennan-of-murder-treason/  Romana Didulo, Sovereign Head of State and Commander-in-Chief of the Sovereign Republic of Canada:  (Was installed by the allies) (David's note:https://operationdisclosureofficial.com/2021/05/29/video-transcript-romana-didulo-sovereign-head-of-state-of-the-republic-of-canada-kat/) Romana said, "Hello Canada. I'm Romana Didulo. I'm the Founder and Leader of Canada First. As of this year, February 2021, I am the Head of State and Commander in Chief of Canada The Republic. In case you're wondering who appointed me as the Head of State and Commander in Chief of the Republic of Canada. The people who appointed me are the White Hats and the U.S. Military together with the Global Allied Troops and their Governments…. The same people who have helped President Trump." “I can officially confirm that the special forces of US, Canada, Britain, Russia, Australia, Japan, Philippines, South Korea are presently in China liberating the Chinese people from the China Communist Party #CCP's oppression and tyranny. Meanwhile, the Military operation of US and Allied Forces inside the Republic of Canada also continues!! Hold the line and the wine/beer. Shut off your TV. Go outside without Mask in groups, if possible. Live your lives. There was/is zero Coronavirus pandemic in the Republic of Canada. DO NOT get vaccinated. Talk with your children and grandchildren about the dangers and lifelong irreversible damage from experimental vaccines including the possibility of dying from it. Parents stand up and protect your children from the experimental vaccines.” (She also promised prosecution and death to those killing the people through these means.) Operation Disclosure On Sun. evening 23 May Disclosure and worldwide Mass Arrests officially began, while 2,149 National Guard troops left Washington DC to give way for a Military troop takeover of DC. The National Guard would be busy making political and global elite arrests in their own states. On Mon. 24 May: Multiple whistleblowers inside Facebook began coming forward with leaked internal docs including that the state of Georgia was the first to decertify 2020 Election results, Fauci, Gates and Obama had colluded with the Chinese Communist Party, their funding of the Chinese Wuhan Lab with US Taxpayer dollars, plus their patents of CV-19 virus and vaccines. Chinese scientists revealed, “This pandemic started in a lab paid by Fauci, BlackRock and Gates” in a treasonous attempt to take down democracies of the world and bring in a New World Order. Q Drop 364: Follow the crumbs. You have it all. Dark 10. Enjoy the show. Question Asked. Question Answered. This drop tells you that ISO20022 Regulation, Metal Backing, QFS (the new financial system) will be forced in the 10 Days of Darkness after THE EVENT on EARTH has happened. Q Drop 282: When is the 10 Days Of Darkness? SHUTDOWN SHUTDOWN = SHUTDOWN. WATCH THE WATER. Eyes on Ripple & BTC. It all begins with FINANCE. (Q)The Storm Rider: EVERY NATION will be exposed after the Greatest Events thus far in the 21st century takes place. Always remember Q U S MIL. is a worldwide Sting Operation. 22 NATIONS To take down the CABAL. NEXT steps of the PLAN will be the HARDEST moments that ANONS & Patriots will go through. This is where all HOPE Lost. This EVENT was planned. It had to be this way. It's all connected. [DS] getting ready to Trigger WORLD mass riots Against Police in major Nations & create the largest race WARS to take place among society _Near DEATH CIVILIZATION EVENTS gets closer. B. The Real News for Wed. 26 May: BANKS FAILING: Fed Struggling To Maintain Control, Silver About To Go Vertical? https://thetruereporter.com/banks-failing-fed-struggling-to-maintain-control-silver-about-to-go-vertical/ Breaking News: This is an absolute must listen. Skip to 5 min mark! May 28th we will start to see stuff going down!!!! https://youtu.be/k9RYZm_6PUw US 2nd Lady Carolyn Bessette-Kennedy: Joe Biden, Bill Gates and the CCP are working together to put American farmers out of business. Mark Zuckerberg, Bill Gates and George Soros spent hundreds of millions of dollars rigging the Presidential Election for Joe Biden. Isn't that treason? SHOCKING CDC REPORT: The Latest Adverse Responses On COVID Vaccination Are Devastating: https://thetruedefender.com/shocking-cdc-report-the-latest-adverse-responses-on-covid-vaccination-are-devastating/ Juan O Savin & Champ David Nino Rodriguez: The Shocking Arrest? Buckle Up! – Must Video | Opinion – Conservative | Before It's News (beforeitsnews.com) The moves that will occur in the months ahead will actually make life more dire. People will not see it coming. It will be a gut punch and very hard for people to grasp: the trafficking of children and human slavery. There are more slaves on the earth today than ever in human history. Early next year the movie “Sound of Freedom” will come out about child trafficking. Durham + Audits = Arrests! Q+ Trump: Game Over! We Have It [All] Assets Seized [F]oreign & [D]omestic! | Alternative | Before It's News (beforeitsnews.com) The Durham Report is coming soon. George Papadopoulos predicts it will be released simultaneously with the results of the 2020 Election Audits. Find out who will be implicated. Which Deep State actors will be the first to face firing squads for Treason and Sedition against The United States of America! Trump will return soon. Not as The President of The Bankrupt U.S. Corporation, but rather The President of The New Republic of The United States! In this New American Republic We The People have all the power. There is NO FEDERAL INCOME TAX! And America returns to The Gold Standard! Welcome to The Great Awakening! Nothing Can Stop What is Coming! Nothing. Enjoy The Show! More Arrests in DC! Cabala Harris Ha! Buses and Police in DC and More~! | Prophecy | Before It's News (beforeitsnews.com) Arrests of Congress in DC on Thurs. 20 May? Q&Trump: Now that it has been confirmed that COVID emerged out of the Wuhan Lab in China, the Chinese Military is not responding to our Secretary of Defense's calls. Be prepared!! Military Tribunals, 16 CIA Arrests, Dams Going Down…Boom! Boom! Boom! | Prophecy | Before It's News (beforeitsnews.com) Military Tribunals, 16 arrested, China Dams going down! Gina Haspell singing like canary! Pope snake building! Fake Biden goes unhinged, needs to go Bye-bye! Nanoparticles in the jab! Texas is Open 100%!!!! Stand up Americans! WWG1WGA! Cointelegraph https://cointelegraph.com/news/banks-cautious-about-crypto-ahead-of-covid-19-testimony-before-us-senat Today This will be huge. Banks cautious about crypto ahead of COVID-19 testimony before US Senate. This year saw a record bull run in cryptocurrency markets as major financial institutions opened up to digital assets. Tesla healing technology for cures was patented 1934, BUT ONLY FOR THE 1%. Holy Moly! Futures Contracts for ALL precious metals are changed to…tomorrow 5/26/2021 …Same day as Blood Moon and CEO Senate Hearing! OUCH for the Big Banks, especially JPM!!! Link: Trump stresses the need for the immediacy of his return and says or, “We won't have a country left.” https://beforeitsnews.com/alternative/2021/05/trump-vows-to-return-immediately-if-i-wait-our-country-will-be-destroyed-q-cooms-epic-rr-3-year-delta-3750970.html   Trump Returns With a Vengeance  Garrett Crawford - 5/16/21 (David's Notes in red) I dreamed I was in a long line of people. We were all in a single file. (As we will see, Garrett represents a group of people whose eye is single and who walk a narrow path of sanctification from the world and the worldly. Luke 11:34,The lamp of thy body is thine eye: when thine eye is single, thy whole body also is full of light; but when it is evil, thy body also is full of darkness.  There was a young Air Force cadet or service woman in full uniform at the end of the line checking us off. We seemed to be waiting to get into a venue or a rally. I had no idea why we were in line. But after a long time I found myself as the very last person. (As we will see, this young Air Force cadet could represent a future overcomer; our little sister spoken of in Song of Solomon. These are the ones that will come out of the apostate church system. Song 8:8-9, We have a little sister, And she hath no breasts: What shall we do for our sister In the day when she shall be spoken for? 9 If she be a wall, We will build upon her a turret of silver: And if she be a door, We will inclose her with boards of cedar.) The service woman looked at me and took additional information from me that was not asked of anyone else. Of all the people in line, I was the only one she singled out to get this information. (They will ask us many questions about the things that they never learned from their apostate church leadership.)  I felt uncomfortable that I was singled out and asked her why only I was chosen. (Garrett represents the first fruits.) She said she wasn't sure but she said she could find out and walked away. (I have no idea why I was singled out by the service woman. I wasn't in trouble it seems. The woman was smiling at me while she was asking me the questions about myself. But even she didn't know why I was singled out.) (Many will want to know why we we're chosen and they will "come out from among her (the Babylonish Apostate Harlot) and be separate” and they will ‘find out' and learn about sanctification. 2 Co. 6:14-18, Be not unequally yoked with unbelievers: for what fellowship have righteousness and iniquity? or what communion hath light with darkness? 15 And what concord hath Christ with Belial? or what portion hath a believer with an unbeliever? 16 And what agreement hath a temple of God with idols? for we are a temple of the living God; even as God said, I will dwell in them, and walk in them; and I will be their God, and they shall be my people. 17 Wherefore Come ye out from among them, and be ye separate, saith the Lord, And touch no unclean thing; And I will receive you, 18 And will be to you a Father, And ye shall be to me sons and daughters, saith the Lord Almighty. Many are having doubts about Trump's return before the 2024 election. Garrett was singled out because he personally needed a confirmation that Trump was coming back.) At this point, I was all alone in the kitchen deep within the backrooms of this large concert hall or stadium. The only way I knew this, was all the noise and commotion was echoing down the halls. There were many thousands of people somewhere cheering in expectation. I had no idea what for. (The thousands of people waiting in the arena could have been there for a Trump rally so that he could come out and speak to them. In the dream I never went into the venue with the crowd like everyone else.) (The Trump rallies are already planned through June and beyond.  True disciples of Christ recognize that our kingdom is not of this world as Jesus told us in His Word. John 18:36 Jesus answered, My kingdom is not of this world: if my kingdom were of this world, then would my servants fight, that I should not be delivered to the Jews: but now is my kingdom not from hence.) After a few minutes, I heard a basement door open behind me and men in suits starting coming out. It was a big entourage of people; then came Donald Trump up the stairs from this dark and dungeon like basement. All his attendants scattered to important jobs and tasks. (It was such a shock when Donald Trump appeared from the basement. I was not expecting that at all! ) (He is coming back officially because he never left and has ruled through the military. He still has the nukes and AF-1.  Biden has been left in a fake white house to prove how life and economies do under a communist.  Everyone will see soon. We are not looking to a man to worship or to save us because we understand that God is sovereign and puts into power the basest of men for His own plans and purposes. Dan. 4:17, The sentence is by the decree of the watchers, and the demand by the word of the holy ones; to the intent that the living may know that the Most High ruleth in the kingdom of men, and giveth it to whomsoever he will, and setteth up over it the lowest of men.) We are told that Trump will return and the election audits will prove he was voted in as President.  He will not be President under USA. inc. because it is defunct. But he will be recognized as President. GESARA/NESARA law dictates that there has to be a new election for all rulers of the Republic which Trump will be inaugurated as President of around mid August.  Only I was left alone with Donald Trump. He was fierce and angry like a mother bear robbed of her cubs. He was bloodied. His nose was bleeding and his thumb was bloody. He was not in a good mood. (Donald Trump coming out of the basement bloodied and angry was foreshadowing his return in some form.) (The thumb is the opposing digit of all the digits of the hand; without it, we couldn't grasp things or use our hands as God intended them for use. The hand represents either our works or Christ's works through us. Jesus is the Arm of the Father who will rule for Him and as His disciples we are His hands and feet. Isa. 40:10, Behold, the Lord Jehovah will come as a mighty one, and his arm will rule for him: Behold, his reward is with him, and his recompense before him. The bloodied thumb here represents the seeming set back of God's work through Trump and the temporary victory of the DS over the Trump administration.)  God allowed this handicapping of His work through Donald Trump temporarily so that people could see the evil of the DS and the demonrats. And so that everything could be exposed and brought to light. Luke 8:17,For nothing is hid, that shall not be made manifest; nor anything'secret, that shall not be known and come to light.) He rummaged thru the kitchen and grabbed a container of sugar and poured it on the hot grill and then stuck his bloody thumb in it. (What is he trying to 'sugar coat' here? Maybe he is trying to make things more acceptable to the public. Sun Tzu's “The Art of War” which Trump ascribes to says, “Appear Strong when you are weak and weak when you are strong.” In order to throw your enemies off track and cause them to underestimate you.) I tried to make small talk with him but he was on edge. He was still angry about the election and very bitter.  He was reminiscing about how much respect the elite fighter pilots used to give him when he would walk onto a military base. I just listened to him with respect and always referred to him as Mr. President.  After talking with him for a few minutes he appeared like 10 foot tall and glowing like he had this powerful aura. I was quite intimidated and overwhelmed by his presence. There was some kind of supernatural change. (The number 10 represents the Law and judgment. God is going to use President Trump to bring His justice to all these evil DS satanists for their wickedness. His power will be much greater this second time around to usher in the great awakening and time of great revival of God's elect during the first half of the tribulation period and the time leading up to it.) But his ego grew with it. He kept bragging how great he was. I didn't feel completely comfortable with it but, I had to acknowledge something powerful was taking place. (Let's pray for him about that ego !!) Then I woke up.   Trump and the US Restored to Power David Dengler - 5/26/21 (David's notes in red) In a dream, I saw a large body of water (Representing the American people.) with a hovercraft traveling over it. The hovercraft was very large and powerful. (The hovercraft represents the power and industry of the United States.)  It looked new and clean and was painted red, white, and blue. “United States of America” was written on the sides. It reminded me of Air Force One. (The hovercraft is new - new industries and business will be created, with much power. What is unique about a hovercraft is that it ‘floats' on a cushion of air and can travel across almost any surface: ground, water, mud, ice, etc. This make the hovercraft almost unstoppable. In this instance the air cushion represents wind, or the Spirit of God that will support this coming change.) A door opened and Donald Trump walked out. (Donald Trump coming out the door of the hovercraft represents his restoration to the Presidency of the United States.)  He turned to his left, and began running around the deck of the hovercraft. He did not run like a seventy year old, but as a much younger, stronger man. (When he turns left and runs around the deck, he is running counter clockwise - he is turning back the clock and restoring to the country those things that were taken away. He runs like a younger man, quickly restoring the (original) constitution.) Then I woke up. Saints it would be a grave mistake to put our trust in a man or men.  God is a jealous God. He permits failure in men to show us that we cannot trust in them.  So put your faith wholly in God and pray for the men to fulfill His Will. The Lord says, On Mine Arm Shall They Trust   Select Language Afrikaans Albanian Amharic Arabic Armenian Azerbaijani Basque Belarusian Bengali Bosnian Bulgarian Catalan Cebuano Chichewa Chinese (Simplified) Chinese (Traditional) Corsican Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Frisian Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hmong Hungarian Icelandic Igbo Indonesian Irish Italian Japanese Javanese Kannada Kazakh Khmer Kinyarwanda Korean Kurdish (Kurmanji) Kyrgyz Lao Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malay Malayalam Maltese Maori Marathi Mongolian Myanmar (Burmese) Nepali Norwegian Odia (Oriya) Pashto Persian Polish Portuguese Punjabi Romanian Russian Samoan Scots Gaelic Serbian Sesotho Shona Sindhi Sinhala Slovak Slovenian Somali Spanish Sundanese Swahili Swedish Tajik Tamil Tatar Telugu Thai Turkish Turkmen Ukrainian Urdu Uyghur Uzbek Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Printer-friendly version

Futures contracts are useful financial tools when used properly. They are also incredibly risky when used for speculation. For hundreds of years, futures contracts, commonly called futures, have been used to help facilitate the trade of commodities such as corn, wheat, oil, and precious metals between producers and consumers. The financial world began using futures to accomplish many of the same outcomes with regard to financial products. These are useful tools and play an important role in the world economy. However, for some, they are highly charged speculations that can make and lose fortunes overnight. As we will see, for speculators, individuals who are not producers and consumers of the underlying commodity, futures contracts are derivatives that are even much more potentially dangerous than options contracts.

We are joined on Metal Money by Chris Vermeulen, founder of Technical Traders Ltd. Chris expects a record amount of silver to be taken delivery of at the next silver futures delivery date thereby exacerbating the current silver squeeze.

This episode discusses futures contracts and how it works. --- Support this podcast: https://anchor.fm/dr-mahesh-agnihotri/support

Which month of futures contracts should you trade? IT'S TRUE - most CIO's read 50+ books each year! Get your copy of the Ultimate Guide to the Best Investment Books ever written here. Follow me at @TopTradersLive And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast. Subscribe on:

Futures contracts are useful financial tools when used properly. They are also incredibly risky when used for speculation. For hundreds of years, futures contracts, commonly called futures, have been used to help facilitate the trade of commodities such as corn, wheat, oil, and precious metals between producers and consumers. The financial world began using futures to accomplish many of the same outcomes with regard to financial products. These are useful tools and play an important role in the world economy. However, for some, they are highly charged speculations that can make and lose fortunes overnight. As we will see, for speculators, individuals who are not producers and consumers of the underlying commodity, futures contracts are derivatives that are even much more potentially dangerous than options contracts.

In today's episode, we dive into futures contracts and how they work! We also cover "margin calls" which is what happens when your contract doesn't go as planned. To follow along with my investment strategies, check out the free Rebound Stock Market Tracker: https://docs.google.com/spreadsheets/d/1-ayygZVOqsqPuqAWmmIFm7qj2Mymw86OKd7UvQiPx1o/edit#gid=0 Robinhood investing (free stock at signup): http://join.robinhood.com/shanew1 --- Support this podcast: https://anchor.fm/simplifinance/support

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The Lions have moved up to the number three pick in the 2020 NFL draft after losing to the Broncos. Listen in as we talk about how Detroit played in Denver. We look at possible draft prospects for the Lions. This week's Our Pride profile is on a former Lions Safety. Now You Know, covers Futures Contracts. All of this and much more on this jam-packed episode!!! --- Send in a voice message: https://anchor.fm/die-hard-den-podcast/message

#CryptoCorner: ErisX Wins DCO License, Binance to Offer Futures Contracts, Gemini Applying for Broker-Dealer License and Russian May Not Be Banning Libra

#CryptoCorner: ErisX Wins DCO License, Binance to Offer Futures Contracts, Gemini Applying for Broker-Dealer License and Russian May Not Be Banning Libra

Car discusses the recent news that TD Ameritrade receives calls, emails, from their 60,000 clients who have traded crypto. They also disclosed that investment advisors (RIAs) are equally interested in bitcoin futures as the company’s ‘pure retail’ clients. Music by: Prayers - Dog to God Thriller Crypto Subscription: • https://thrillercrypto.substack.com Buy Crypto and Support the Show • Coinbase: http://bit.ly/THXCoinbasePro Send Crypto and Support the Show • Crypto Donations: http://bit.ly/TCrypto Free Crypto • Free $10 of Bitcoin: http://bit.ly/Thrillcoin • Newsletter: http://eepurl.com/duyoZL Contact Us • Host: Car Gonzalez • Thriller X: https://www.thrillerx.com • Thriller Crypto: https://www.thrillercrypto.com • Be Guest on Thriller Podcast: http://Bit.ly/GuestOnThriller

We believe in an exciting and inevitable future where everything that we do will be fundamentally touched and transformed by blockchain technology and the world will be an infinitely better place to live, work, and play.Consequently, our mission is to accelerate the growth of blockchain within the public conscience, vernacular, and culture through awareness, education, and entertainment.In fact, our first explicit milestone is to get 1,000,000 new folks into blockchain, bitcoin, and cryptocurrency! This is just the first of many steps!If this resonates with you then join us; you are the vanguard.Subscribe on YouTube - https://www.youtube.com/channel/UCueLJ4vLHTwMpYILmdBjRlgFollow on Twitter - https://twitter.com/decentralizedtvFollow on Google + - https://plus.google.com/+DecentralizedTVOriginal Articles on Medium - https://medium.com/decentralizedtvEmail List - https://mailchi.mp/fa9de7339b0c/decentralized-newsSupport Decentralized TV original projects!Crypto Social Exchange - https://yen.io/The Bitcoin Pub - https://thebitcoin.pub/Crypto News - https://cryptoyum.com/Coin Prices and More - https://coinpuffs.com/

DECENTRALIZED RADIO: DCTVWe believe in an exciting and inevitable future where everything that we do will be fundamentally touched and transformed by blockchain technology and the world will be an infinitely better place to live, work, and play.Consequently, our mission is to accelerate the growth of blockchain within the public conscience, vernacular, and culture through awareness, education, and entertainment.In fact, our first explicit milestone is to get 1,000,000 new folks into blockchain, bitcoin, and cryptocurrency! This is just the first of many steps!If this resonates with you then join us; you are the vanguard.Subscribe on YouTube - https://www.youtube.com/channel/UCueLJ4vLHTwMpYILmdBjRlgFollow on Twitter - https://twitter.com/decentralizedtvFollow on Google + - https://plus.google.com/+DecentralizedTVOriginal Articles on Medium - https://medium.com/decentralizedtvEmail List - https://mailchi.mp/fa9de7339b0c/decentralized-newsSupport Decentralized TV original projects!Crypto Social Exchange - https://yen.io/The Bitcoin Pub - https://thebitcoin.pub/Crypto News - https://cryptoyum.com/Coin Prices and More - https://coinpuffs.com/Learn the Fundamentals of Bitcoin - https://10daysofbitcoin.com/Follow the best podcasts from the best minds in the Bitcoin and Cryptocurrency space on twitter.https://twitter.com/bitcoinpodcasts

DECENTRALIZED RADIO: DCTVWe believe in an exciting and inevitable future where everything that we do will be fundamentally touched and transformed by blockchain technology and the world will be an infinitely better place to live, work, and play.Consequently, our mission is to accelerate the growth of blockchain within the public conscience, vernacular, and culture through awareness, education, and entertainment.In fact, our first explicit milestone is to get 1,000,000 new folks into blockchain, bitcoin, and cryptocurrency! This is just the first of many steps!If this resonates with you then join us; you are the vanguard.Subscribe on YouTube - https://www.youtube.com/channel/UCueLJ4vLHTwMpYILmdBjRlgFollow on Twitter - https://twitter.com/decentralizedtvFollow on Google + - https://plus.google.com/+DecentralizedTVOriginal Articles on Medium - https://medium.com/decentralizedtvEmail List - https://mailchi.mp/fa9de7339b0c/decentralized-newsSupport Decentralized TV original projects!Crypto Social Exchange - https://yen.io/The Bitcoin Pub - https://thebitcoin.pub/Crypto News - https://cryptoyum.com/Coin Prices and More - https://coinpuffs.com/Learn the Fundamentals of Bitcoin - https://10daysofbitcoin.com/Follow the best podcasts from the best minds in the Bitcoin and Cryptocurrency space on twitter.https://twitter.com/bitcoinpodcasts

Energy Week Podcast is sponsored by Drillinginfo. Get a free trial from Drillinginfo by going here - http://bit.ly/2CQPgvkEllen’s visit with Saudi Shoura Council – learned about what council does and how situation for women is changing in Saudi Arabia. http://bit.ly/2DZw8f1New Mexico and fracking: - https://lat.ms/2I9TRfbPermian is not just in Texas, also extends to New Mexico. What do companies do about water?1) price 2) environmental agencies 3) local interestsfor some, drilling oil wells can being needed access to water but others may be negatively impactedproducers being proactive in how to handle water issues with communitiesTrouble in EIA data collecting land - http://bit.ly/2DZHVtMlag between data reported to EIA and TRC – EIA shows difference½ rigs in the nation are in Texas so the difference in reporting is noticeable Total and Exxon to drill ultra deep well in Mexico in October - http://bit.ly/2GfcAcwBig companies not put off by anti-foreign oil company rhetoric in upcoming Mexican electionChina offers oil futures contracts in Yuan - https://on.wsj.com/2DYVY34Is there a future in oil contracts denominated in a currency other than the dollar?- used to be in pounds sterling- dollar picked up steam in 2nd half of 20th c - pre WWI almost all trading in pounds- mid-1920s almost equal between dollar and pound- post-WWII dollar became favorite -1970s still 1/5 denominated in pounds sterling- possible but just not the renminbi nor the time for renminbi?New on Forbes: How Trump, Bolton And Pompeo Pushed Oil Prices Higher - http://bit.ly/2DWqYAt

Energy Week Podcast is sponsored by Drillinginfo. Get a free trial from Drillinginfo by going here - http://bit.ly/2CQPgvkEllen’s visit with Saudi Shoura Council – learned about what council does and how situation for women is changing in Saudi Arabia. http://bit.ly/2DZw8f1New Mexico and fracking: - https://lat.ms/2I9TRfbPermian is not just in Texas, also extends to New Mexico. What do companies do about water?1) price 2) environmental agencies 3) local interestsfor some, drilling oil wells can being needed access to water but others may be negatively impactedproducers being proactive in how to handle water issues with communitiesTrouble in EIA data collecting land - http://bit.ly/2DZHVtMlag between data reported to EIA and TRC – EIA shows difference½ rigs in the nation are in Texas so the difference in reporting is noticeable Total and Exxon to drill ultra deep well in Mexico in October - http://bit.ly/2GfcAcwBig companies not put off by anti-foreign oil company rhetoric in upcoming Mexican electionChina offers oil futures contracts in Yuan - https://on.wsj.com/2DYVY34Is there a future in oil contracts denominated in a currency other than the dollar?- used to be in pounds sterling- dollar picked up steam in 2nd half of 20th c - pre WWI almost all trading in pounds- mid-1920s almost equal between dollar and pound- post-WWII dollar became favorite -1970s still 1/5 denominated in pounds sterling- possible but just not the renminbi nor the time for renminbi?New on Forbes: How Trump, Bolton And Pompeo Pushed Oil Prices Higher - http://bit.ly/2DWqYAt

We hit a key support level on Bitcoin yesterday bringing back some juice to the entire market. Today we’ll be looking into what levels will keep this going, the role volume plays, Bitconnect’s bounce and how news affects your profits. Links: South Korea Insider Trading: https://cointelegraph.com/news/south-korea-govt-officials-accused-of-crypto-insider-trading Futures Contracts: https://cointelegraph.com/news/first-bitcoin-futures-contract-expires-at-10900-win-for-bears Free Course – How To Buy Your First $100 Of Bitcoin: http://www.coinmastery.com/bitcoin Get your free PDF here: http://www.coinmastery.com/invest Subscribe to the Podcast: http://www.coinmastery.com/itunes Subscribe on Android: http://www.coinmastery.com/android Follow me on Twitter: https://www.twitter.com/carterthomas Learn technical trading for crypto: http://www.coinmastery.com/trading-class The post Bouncing Back! Will This Last? Support Levels, Alt Insights, Market Pattern Fallacies – Ep 128 appeared first on Coin Mastery - How To Trade Crypto.

This lecture covers the motivation, definition, features, and examples of forward and futures contracts in light of the uncertainty of exchange rates, illiquidity, and counterparty risk.

This lecture includes examples of calculating payoff, and pricing forward and futures contracts. Options, a derivative, are presented as another kind of security.

When you think of farming, a Wall Street speculator isn't the first thing you think of. Grain and futures contracts, while they are tough to sometimes comprehend, can be extremely fruitful when utilized well. While today's topic might be heady, Scott and James unpack exactly what you as a farmer should understand grain and futures contracts.

Describe the tax issues associated with investing in investment companies, options, annuities, LPs and MLPs, as well as futures contracts.

Describe the general characteristics of futures contracts.

Apply trading strategies using futures contracts, especially with regard to the creation of basis risk.

Describe the tax issues associated with investing in investment companies, options, annuities, LPs and MLPs, as well as futures contracts.

Describe the characteristics of the spot market, forward contracts, and futures contracts.

Describe the institutional framework for trading futures contracts.

Describe the characteristics of the spot market, forward contracts, and futures contracts.

Describe the institutional framework for trading futures contracts.

Describe the general characteristics of futures contracts.

Apply trading strategies using futures contracts, especially with regard to the creation of basis risk.