What Bitcoin Did THE BIG PRINT IS COMING w/ Lawrence Lepard
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Apr 12, 2025 Lawrence Lepard, an investment manager and author of The Big Print, dives into the complexities of our monetary system and the potential crises looming ahead. He discusses how Trump's tariffs could trigger a market crash and the acceleration of the fiscal doom loop. Lawrence emphasizes the growing need for alternatives like Bitcoin amidst increasing inflation and the Federal Reserve's printing practices. He also compares Bitcoin and gold as sound money, exploring the implications of a Bitcoin-backed economy and its potential to redefine financial stability.
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Stock Market Bubble
- Lawrence Lepard believes the stock market is a bubble fueled by cheap money and leverage.
- He predicts a potential market crash, more severe than 2008, due to widespread misallocation of resources.
Leverage and the Doom Loop
- The current market leverage resides with hedge funds and the basis trade, unlike 2008's housing and bank leverage.
- Consumers and the government are highly leveraged, contributing to a fiscal doom loop.
Margin Call Story
- During COVID, Lepard received a margin call on his silver holdings due to the price drop.
- He sold other assets to meet the margin call, highlighting the forced selling during liquidity events.