This week, Le Shrub joins the show to lay out his barbell portfolio strategy and "GAG" (Golden Age of Grift) thesis. We discuss fiscal dominance, bond market dysfunction, yield curve control, and why crypto—especially ETH—is gaining traction as the new high-yield frontier. We also cover risk scenarios like Japan yield shocks, Powell’s potential firing, rising inflation swaps, and how private equity and crypto are being funneled into 401(k)s to keep the system afloat. Enjoy!
—
Follow Le Shrub: https://x.com/agnostoxxx
Follow Tyler: https://x.com/Tyler_Neville_
Follow Quinn: https://x.com/qthomp
Follow Felix: https://twitter.com/fejau_inc
Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance
—
Join us at Digital Asset Summit in London October 13-15. Use code FORWARD100 for $100 OFF
https://blockworks.co/event/digital-asset-summit-2025-london
__
Weekly Roundup Charts: https://drive.google.com/file/d/1QhG4HJA0tyvEtFncy_voFFm5LEOKEcib/view?usp=sharing
—
This Forward Guidance episode is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH):
http://vaneck.com/SMHFelix
Learn more about the VanEck Fabless Semiconductor ETF (SMHX):
vaneck.com/SMHXFelix
Echo Protocol is the first Bitcoin liquid re-staking and yield layer on MoveVM. As the second-largest protocol on Aptos by TVL, Echo secures nearly half of the network’s bridged assets with ~$270M in aBTC minted. https://www.echo-protocol.xyz/
—
Timestamps:
(00:00) Introduction
(02:54) Shrub Portfolio
(07:47) Macro Setup
(12:36) Ads (VanEck, Aptos)
(13:56) Yields Too High?
(16:33) Bessent & QRA
(18:53) “Fire Powell” Trial Balloon
(20:53) Trading The Ponzi
(24:48) Japan & Inflation
(26:41) Who’s Gonna Buy The Bonds?
(33:24) Are Recessions Over?
(34:18) Ads (VanEck, Apotos)
(35:42) Are Recessions Over?
(36:34) Weimar Endgame
(38:58) Coldplay Affair
(40:41) Volatility, Hedging & Hedge Funds
(47:09) Inflation vs Growth
(49:52) Trump Risk & Grift
(54:13) “Democratizing” Finance
(56:36) Crypto Treasury Companies
(01:04:07) Why Do You Own Things?
(01:05:05) Final Thoughts
—
Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Macro #Investing #Markets #ForwardGuidance
