Sure enough, it turned out to be TACO after all. Trump’s 20% Hormuz tax made me feel really weird—this is basically roasting the United States over a fire. And after only 18 hours, Trump was already TACO. This should have set a new record for Trump’s TACO. Sometimes I even wonder if the hardline stance is actually Trump himself: it was sent out without considering the PR team, then the PR team blasted it, and it was changed back again.

But although the 20% issue is TACO, the conflict between Iran and the US still hasn’t been resolved. Iran is still blocking the Strait of Hormuz, and the US has also re-blocked Iranian ports—back to a tense standoff. Still, I feel like this situation won’t last for long; otherwise, it really should turn into full-scale military action, not something that feels like probing attacks.

I don’t know whether they can reach an agreement within this week, but for Trump, the CPI he just released has already given him some confidence. At this point, an increase in oil prices is basically working against him, and there isn’t much time left for Waš. There also isn’t much time left for the midterm election.

A good CPI and Trump’s TACO have boosted risk markets. The rebound in both US stocks and Bitcoin has been pretty strong. Today I also posted my “copying the way to find the sword by the boat after crossing the river” take on the midterm election. There are less than four months until the midterm election. For $BTC , if this boat doesn’t flip, then after the midterms, Bitcoin should still have a decent chance to rebound. #沃什重申坚守2%通胀目标 $BTC ‌