The Fear of Liquidity

The fear that everybody has is that they've seen a couple of charts going around on Twitter Where two lines are drawn against each other one is bank reserves often often Cold with a some model liquidity thing to make it sound very fancy where they just plot bank reserves. The other is the smp 500 or the nastock or bitcoin or any risk asset and Look, there is a couple of things to say there. Deli if I would tell you look I found a magic formula to predict where the stock market is going to do just by using this very single line item You would think I've gone nuts But that's unfortunately is that people like easy narratives. They like easy charts. They like