I've long wanted exposure to hard farming assets without getting chopped up by futures contango or buying into a chemical-dependency
Recently broadened the search to off-shore while looking for regenerative farm land since everything public in the US is clown world chemically dependent, dollarized debt, asset light.
Offshore plays into a few confluent thesis...
The dollar milkshake, US exports a lot of food and much of the world can't afford it. Even less so once foreign fiats start dying.
The fertilizer FUD the deep state pushes every few years and extra hard since the Iran war psyop started
Found something more interesting than I expected that expands into yet another thesis
Milei is the governor of a new US state in Argentina
But wait, it gets even more interesting...
This company I found mines Bitcoin 2 ways, with the methane for bio-effluent they use to make their own fertilizer from cow shit and with sugarcane mill waste.
And... it's majority owned by... fucking Tether. The keystone in Lutnick's dollar milkshake / Bitcoin world reserve currency operation.
Tether bought ~75% of if just last year. They have non-dollar operational costs but are settling shipments in USDT, lol. They're already on milkshake rails.
Whether South American fiats go to zero on their own, or the dollar milkshakes everything, or simply food continues to get more expensive, the assets are structured to reprice.
Doesn't appear to have Bitcoin on balance sheet yet, but with 2 mining operations and Tether as majority shareholder I'd imagine that's likely to reveal in any given quarter.
Even better, it's relatively cheap right now. P/E looks like it got worse recently because of paper mark-downs on unharvested crops in the ground, and they stored massive ethanol inventories last quarter instead of dumping at lows. Operational cash flow in reality just hit a record in Q2.
Chart seems to be working its way out of the chop.
So, near perfect asymmetry. The value of land and food production is what it is which limits downside, everything else is high upside.
I've long wanted exposure to hard farming assets without getting chopped up by futures contango or buying into a chemical-dependency
Recently broadened the search to off-shore while looking for regenerative farm land since everything public in the US is clown world chemically dependent, dollarized debt, asset light.
Offshore plays into a few confluent thesis...
Found something more interesting than I expected that expands into yet another thesis
But wait, it gets even more interesting...
This company I found mines Bitcoin 2 ways, with the methane for bio-effluent they use to make their own fertilizer from cow shit and with sugarcane mill waste.
And... it's majority owned by... fucking Tether. The keystone in Lutnick's dollar milkshake / Bitcoin world reserve currency operation.
Tether bought ~75% of if just last year. They have non-dollar operational costs but are settling shipments in USDT, lol. They're already on milkshake rails.
Whether South American fiats go to zero on their own, or the dollar milkshakes everything, or simply food continues to get more expensive, the assets are structured to reprice.
Doesn't appear to have Bitcoin on balance sheet yet, but with 2 mining operations and Tether as majority shareholder I'd imagine that's likely to reveal in any given quarter.
Even better, it's relatively cheap right now. P/E looks like it got worse recently because of paper mark-downs on unharvested crops in the ground, and they stored massive ethanol inventories last quarter instead of dumping at lows. Operational cash flow in reality just hit a record in Q2.
Chart seems to be working its way out of the chop.
So, near perfect asymmetry. The value of land and food production is what it is which limits downside, everything else is high upside.
$AGRO