Felix Jauvin, Macro Economist and host of Forward Guidance podcast, joins us to talk about the regime shift from monetary to fiscal dominance, why Bitcoin and risk assets are hitting all-time highs despite high interest rates, the treasury company revolution led by MicroStrategy, and why "hyper gambling your way to wealth" has become a rational strategy in our current economic environment.
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**Notes:**
• US running 7% GDP deficit during full employment
• Bitcoin at ATH despite 5% interest rates
• MicroStrategy's 0% coupon convertible bonds
• Stablecoins can't pass yield to holders
• Treasury companies trading above NAV
• Fiscal dominance replacing monetary policy
Timestamps:
00:00 Start
00:50 Felix background
01:57 TradFi history
05:51 Current market outlook
11:48 10 yr prediction
16:37 Firing the Fed Chairman
21:29 Stablecoins
26:47 Long degens, short society
29:09 Where's my altcoin summer!
32:08 Elipsis Labs
33:09 Hyperliquid
38:21 Place your bets or eat bugs, you choose
44:40 Remember Etherium... what happened to those guys?
48:34 A black hole for capital = NGU
55:27 MSTR failure state
59:22 management teams
1:01:57 Discount to NAV, harbinger of death
1:04:11 Advice for plebs
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