Sam Bourgi @forgeforth_

Following the money, questioning the consensus. Writing about markets, macro, Bitcoin and energy. Cited by Congress, DoJ, New York Fed, Bloomberg, Reuters, BIS. Decentralized Joined July 2016

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Sam Bourgi @forgeforth_

2 months ago

For decades, China exported deflation by flooding the world with cheap manufactured goods. Now it may be exporting something else: oil stability. China spent years building a 1-billion-barrel strategic petroleum reserve while energy markets were calm. As the rest of Asia scrambles for crude, Beijing can afford to buy less. That's one reason oil hasn't exploded higher. Council on Foreign Relations fellow Brad Setser recently called China "the new central bank of oil," arguing its stockpiles may have helped spare the U.S. and Europe from a much larger energy shock. The irony is that China's biggest contribution to global oil markets right now may be the oil it isn't buying.

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Sam Bourgi @forgeforth_

2 months ago

"The parallels with the energy shocks in the 1970s are worrying" - Apollo's Torsten Slok

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Sam Bourgi @forgeforth_

2 months ago

Starting to think this is the scariest chart in markets right now. We're on the cusp of a 70s-style stagflation.

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Sam Bourgi @forgeforth_

3 months ago

Airlines are flashing recession-style warning signs. Since the Iran war began: • Jet fuel prices have nearly doubled • Airlines cut ~2 million seats globally • 12,000+ flights canceled • Lufthansa, Turkish Airlines, Air China all slashing capacity Spirit collapsed. JetBlue & Frontier are warning of mounting pressure. The bigger issue: airlines can’t fully pass costs to consumers because travelers are already price sensitive. So instead, we’re seeing fewer flights, more fees, and shrinking service. Fuel shocks don’t just raise ticket prices — they force the entire industry to shrink.

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Sam Bourgi @forgeforth_

5 months ago

Every $10 increase in a barrel of oil adds roughly 0.2 percentage points to headline inflation. If crude keeps climbing, CPI will drift higher, making it harder for the Fed to justify rate cuts and pushing Trump further from his goal of near-zero rates.

Philip Pilkington @philippilk

5 months ago

Iran appears to be attacking oil tankers that try to cross the Strait. Oil traders are going to have a field day tomorrow. This could be the biggest global energy crisis since 1973. You know what that means: inflation and lots of it. 🛢️📈

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Sam Bourgi @forgeforth_

5 months ago

Crypto Weekly Roundup: If you’re only watching price, you’re missing the story. This has been one of the most sustained drawdowns I’ve seen in 10+ years in crypto, and yet it's not all bad: Tokenization & RWAs: Real-world assets are climbing even as prices slide. Tokenized stocks + fresh VC flowing into onchain finance show capital is rotating, not disappearing. Bitcoin ETFs holding the line: Despite recent outflows, spot BTC ETFs still sit on ~$53B in cumulative inflows. Institutions haven’t left — they’re consolidating. Miners pivot to AI: With hashprice pressure mounting, miners are chasing ~30 GW of AI-focused capacity. Compute is the new hedge. Stablecoins go mainstream: Crypto rails are merging with TradFi — stablecoin settlement now sits alongside ACH and wires.

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Sam Bourgi @forgeforth_

6 months ago

@BobLoukas But Bob... the PMI just flipped positive! 😂

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Sam Bourgi @forgeforth_

6 months ago

😂

Eddy Elfenbein @EddyElfenbein

6 months ago

"Daddy, what did you do during the Greenland War?" "I shorted the VIX at 20."

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Sam Bourgi @forgeforth_

7 months ago

@VeryBadLlama He's Lebanese Canadian. He was brilliant.

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Sam Bourgi @forgeforth_

8 months ago

@AnnaEconomist Anna, which forward looking indicator are you referring to?

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Sam Bourgi @forgeforth_

8 months ago

Crypto’s other halving: Bittensor completes its first 4-year cycle, echoing Bitcoin’s supply model. @Grayscale breaks it down. 100+ subnets and rising AI compute use cases. cointelegraph.com/news/crypto-ot…

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Sam Bourgi @forgeforth_

8 months ago

It's an internal wallet migration. Calm down. @coinbase cointelegraph.com/news/coinbase-…

Wimar.X @DefiWimar

8 months ago

🚨 BREAKING COINBASE JUST WITHDREW OVER $24 BILLION IN $BTC FROM THEIR COLD WALLET. LOOKS LIKE THEY ARE ABOUT TO CLICK SELL. WHAT IS GOING ON??

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Sam Bourgi @forgeforth_

8 months ago

Given the muted sentiment throughout this cycle, should we still expect euphoric conditions to signal future tops, or is it now more realistic to assume they may never materialize? Historically, euphoria has depended on strong retail participation, and retail remains largely absent.

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Sam Bourgi @forgeforth_

9 months ago

Bob has been saying this publicly since 2018 (?), yet crypto people still think cycles are unique to crypto and that the exact peak has to mirror prior cycles. A peak next year doesn't invalidate cycle theory.

Bob Loukas 🗽 @BobLoukas

9 months ago

The word cycle is thrown around carelessly a lot or co-opted to fit narratives. But the technical definition is Cycles are always measured from low to low. That’s the only count that is relatively consistent, the duration between one low and the next defines the cycle’s

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Sam Bourgi @forgeforth_

9 months ago

Amazing panel. @WilliamEQuigley shared some gems.

Blockchain Futurist Conference @Futurist_conf

9 months ago

Live on the main stage now at Futurist. The Next Transaction: How Payments Power Digital Adoption Featuring @forgeforth_ · @Cointelegraph Elina Cohen · @Quicknode @SamiStart · @Transak Diego Baez · @BLOX_globe @WilliamEQuigley · @tether · @WAX_io Exploring how seamless

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Sam Bourgi @forgeforth_

9 months ago

It was a blast. Thank you, Janelle!

Janelle @JanelleChalouhi

9 months ago

It was awesome to share the stage with @forgeforth_ today. Congratulations to the @Futurist_conf on an awesome day 1! ❤️✨

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Sam Bourgi @forgeforth_

9 months ago

I'll be on stage with Coinbase's @ShanAggarwal next month in Miami. My fifth Futurist Conference is shaping up to be the best one.

Digijointz @digijointz

9 months ago

@Futurist_conf @ShanAggarwal @coinbase @forgeforth_ @Cointelegraph My gosh I have never been sooooo bullish!!

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Sam Bourgi @forgeforth_

10 months ago

Bitcoin crosses $125,000 for the first time. ETF inflows were likely huge last week. We will find out Monday.

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Sam Bourgi @forgeforth_

a year ago

@AydinKilicHIVE and @bulldogholmes drop some gems.

HIVE Digital Technologies @HIVEDigitalTech

a year ago

"What began with a fleet of 400 GPUs managed by two employees is now scaling toward a $100M annual revenue." @bulldogholmes and @AydinKilicHIVE break down HIVE's strategy for the back half of 2025 in an exclusive sit-down with @Cointelegraph: cointelegraph.com/news/hive-digi…