Global liquidity veteran Michael Howell joins to map out the “master variable” driving asset prices: a 65-month global liquidity and debt refinancing cycle that underpins booms, busts, and the recent “everything bubble.”
He breaks down the coming debt maturity wall, rising repo stress, the shift from Fed QE to “Treasury QE,” and a new capital war between a US dollar stablecoin system and China’s gold-backed strategy.
Plus, what all of this means for Bitcoin, gold, equities, and how to position as the current cycle rolls over.
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TIMESTAMPS
0:00 Intro
0:45 Global Liquidity: Theory of Everything?
14:49 Will it Go Up Forever?
24:50 Where Are We in The Cycle?
34:23 Asset Allocation
47:14 Can The Monetary Regime Break?
58:55 China Gold vs US Tech
1:04:29 Crypto & Gold
1:08:03 4-Year Cycles
1:12:40 AI Bubble
1:15:14 Global Liquidity Limitations
1:18:39 Next 3-6 Months
1:20:24 Assets to Hold
1:21:25 Closing & Disclaimers
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RESOURCES
CrossBorder Capital
https://x.com/crossbordercap
CrossBorder Capital Website
https://crossbordercapital.com
Capital Wars Substack
https://capitalwars.substack.com/
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