Latest LNMS newsletter is out:
https://lessnoisemoresignal.substack.com/p/ending-qt-wont-do-much-and-why-almost
➡️Are bank reserves really scarce?
➡️Fascinating case study of BTC's real-time price changes to recent plumbing changes
➡️Why investors should pay attention to rumors around gov' shutdown ending and Nov 5 Supreme Court tariff decision
➡️Gold's rally as a structural change and how to really think about the gold–Bitcoin “catch-up” trade.
➡️Why the end of quantitative tightening (QT) won’t make any material difference
➡️A fresh look at inflation
