A song of ice and fire.

Raise interest rates, break inflation by ushering in a global contagion leaving to depression. Ice.

Lower interest rates, blow out the long term duration bonds and usher in financial repression to inflationary forces. Fire.

What will Lord Powell choose?

(Printer is coming...)

"Bitcoin (equity based) is proof of yesterday's hard work. Fiat (debt based) is proof of tomorrow's promise to pay."

-- h/t CJ Konstantinos

High time for a ₿it of tea...