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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At Ondo, we design institutional-grade platforms, assets, and infrastructure to bring financial markets onchain. We believe that combining the best of TradFi with the best of DeFi will dramatically improve our financial system—making it fairer, faster, and more accessible to all.

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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.

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