In this episode, Arthur Hayes joins the show to discuss Trump’s slew of concessions sending markets higher, the evolving US-China strategy, and Bitcoin decoupling from US assets as tariffs reduce the US capital account surplus. We also delve into Treasury buybacks, the Fed & SLR exemption, potential catalysts that would trigger QE, and more. Enjoy!

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Learn more about how Ondo is bringing capital markets onchain at https://ondo.finance/

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Timestamps:

(00:00) Introduction

(01:47) Trump Agenda & Concessions

(07:06) Tariffs & US-China Strategy

(13:39) Ads (Ondo, Ledger)

(14:50) Bitcoin Decoupling & Changing Trade Flows

(19:33) Fiscal Levers & Global Liquidity

(25:26) Treasury Buybacks

(30:49) Ads (Ondo, Ledger)

(32:04) Powell & The Fed

(34:43) SLR & Big Banks

(37:30) What Would Trigger QE?

(41:55) Structural Bid In Gold

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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Joshua Bodkin | Cowboys, Conservation, and Playing the Long Game in Creation