Uninversion of the yield curve just started, VIX at 65.

The reversal of the carry trade could turn into a margin call on the financial system with EVERY asset (most illiquid) tied to that very same financialization and leverage.

That leverage unwind will (if left unchecked) take down major players.

Ie - Massive manipulation of money incoming (liquidity) or deflationary spiral. Likely both (depending on timing and your country)

Good thing there is a protocol stack bounded by energy that is open, decentralized and secure.

#Bitcoin.

Letsgooo

A family member asked if I had my photo taken with Trump like how my grandfather (who was very active in the Republican Party) had his photo taken with Ronald Reagan.

He was taken aback when I informed him that Trump required a $60,000 donation for the privilege.

Today I was listening to one of my favorite macro podcasts talk about the Fed's meeting from yesterday. One of the best interviewers in the space, and one of his top interviewees.

And I couldn't finish it. So boring.

They were literally noting the tiniest details. The Fed's prepared statement didn't mention a rate cut in September. And then Fed chairman Powell's prepared press talk also didn't mention it. However, when asked about a September rate cut, he flipped to a page where he had a prepared statement indicating that yeah they're kind of leaning toward a September rate cut, and read it.

So they were like, "Huh! I wonder what the significance of that is. He had a prepared written statement about September, but only when asked!"

People literally judge the Fed chair's body language, facial movements, details like whether he has a prepared statement for a given question, etc. Omg.

For my work I need to note the basics of what the Fed said and all that, like the 3-minute summary of all that stuff. But the sheer excitement that these people had when discussing details like that for an hour was so banal. It seemed like satire.

Zoom out.

Back during the subprime mortgage housing bubble, house prices increased at a much more rapid pace than money supply.

But in this more recent pandemic-liquidity house price surge, it has come with a lot of money supply growth.

That's part of the reason I'm not too bearish on house prices in nominal terms. I think a lot of those prices are going to grind kind of sideways for a while as other things run hot.

Back during the subprime mortgage housing bubble, house prices increased at a much more rapid pace than money supply.

But in this more recent pandemic-liquidity house price surge, it has come with a lot of money supply growth.

That's part of the reason I'm not too bearish on house prices in nominal terms. I think a lot of those prices are going to grind kind of sideways for a while as other things run hot.

Proton could just use Nostr instead of forcing people to create Proton accounts... 😏

"No privacy masks will be allowed in Nakamoto Stage"

Can we use make up? Asking for a friend.

Forked Amethyst with Shitcoin support.