[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![ste_yng Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::512446725.png) Stefan [@ste_yng](/creator/twitter/ste_yng) on x XXX followers
Created: 2025-07-25 12:21:51 UTC

They call it inflation. But it’s a waltz.

Founder’s Field Notes #14 – Strategic signals for crypto builders.

@CryptoHayes  doesn’t forecast markets.
He reads tempo.

And right now, the rhythm is fascist.
Not as ideology... but as credit policy.
The US isn’t printing money like 2020.
It’s building tanks, subsidising rare earths, and handing procurement guarantees to whoever can deliver war-ready output.

The banks follow.
Loans flow.
And the fiat supply expands - not via central banks, but via commercial credit.
This is QE without the optics.
“QE X Poor People”, as Arthur calls it.

But where does that credit land?

Not in food - too dangerous.
Not in wages - too slow.
It lands in assets that feel like upside but don’t destabilise society.
Apartments in China.
Crypto in the US.

That’s the playbook.

If Trump wins - or even just runs - this play accelerates:
→ tax-free crypto gains
→ regulatory greenlight for 401(k) inflows
→ narrative shift from outsider tech to patriotic speculation

And the side-effect?
Stablecoins buy the debt that funds the state.
The bigger the crypto bubble, the more T-bills get absorbed.
It’s not decentralised finance.
It’s circular finance.

So don’t look at the headlines.
Tariffs, wars, TikTok bans - they’re noise.

The kick drum is credit.
And the next dance is already startin

![](https://pbs.twimg.com/media/Gws-xZ0WEAAqZCZ.jpg)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948720347865375148/c:line.svg)

**Related Topics**
[money](/topic/money)
[inflation](/topic/inflation)

[Post Link](https://x.com/ste_yng/status/1948720347865375148)