Less Noise, More Signal
Pascal
Welcome to Less Noise, More Signal. In a world saturated with news, hype, and endless chatter, finding clarity can seem like searching for a needle in a haystack. I have taken on this challenge and made it my mission to cut through the noise by amplifying the signal.Who am I? I am Pascal Hügli. With a background in political philosophy, a career in investment management, and a deep expertise in Bitcoin and digital assets, I am here to explore the ideas and connections that others do not bother to see. It’s not just about finding the right answers; it’s about asking the right questions.In each episode, I interview the most insightful thinkers in their respective fields. Every guest contributes a vital piece to the puzzle, helping us form a clearer picture of the forces shaping our world of macro, finance, and money.Listen in as my guests and I tilt the balance from noise to signal, one podcast episode at a time. Let’s cut through the clutter and focus on what truly matters. Ready to elevate your understanding? Let’s dive in.
Episodes
Mentioned books
Jan 29, 2026 • 1h 4min
AI Agents Sound Smart. Are They Actually Useful?
Iva Avi, Web3 product engineer and AI researcher who leads Event Horizon Labs, breaks down MoldBot and agentic AI. They explore MoldBot's memory and plugin-driven orchestration. Conversation covers security risks, sandboxing and best practices. They also discuss practical hosting choices, cost tradeoffs, and how blockchain could add trust and payments for autonomous agents.
11 snips
Jan 22, 2026 • 1h 2min
Where will the marginal liquidity come from in 2026? (w/ Michael Howell & Capital Flows)
Joining the discussion are Michael Howell, a financial expert with over 40 years of experience, and Capital Flows, a macro commentator focused on capital flow frameworks. They delve into the current state of market liquidity and the significance of cross-border capital flows. Topics include Japan's unique fiscal strategies, China's monetary policies, and the future prospects for Bitcoin amid shifting market dynamics. They also explore the contrasting liquidity scenarios in the U.S. and Japan, and ponder the possibilities of a Goldilocks economy.
Jan 15, 2026 • 53min
Why your money gets debased hard in 2026 (w/ Vincent Deluard)
In this conversation, Vincent Deluard, Director of global macro strategy at StoneX, offers deep insights into the current economic landscape. He critiques the reliability of CPI data and argues that inflation hasn't disappeared, with examples from housing and healthcare. Deluard discusses gold and Bitcoin as crucial hedges against inflation and highlights the increasing demand for gold by central banks amid geopolitical tensions. The discussion also explores the political influences on Fed policies and the potential resurgence of inflation due to fiscal stimuli.
7 snips
Jan 8, 2026 • 1h 16min
The Fed will have to raise rates soon (w/ Danny Dayan)
Danny Dayan, a global macro investor with 20 years of experience, shares his insights on the current economic landscape. He highlights the unresolved inflation dilemma faced by the Federal Reserve and parallels today's labor market with the complexities of the 1960s. The discussion extends to geopolitical dynamics, particularly in Venezuela and China, and their impact on global markets. Dayan also emphasizes a systematic trading approach, showcasing his models for cryptocurrencies and analyzing emerging opportunities in international markets.
Jan 1, 2026 • 57min
Macro is very constructive moving into 2026 (w/ Ram Ahluwalia)
Ram Ahluwalia, CEO of Lumida Wealth, shares his extensive expertise in macro and crypto investing. He describes the current macroeconomic environment as a Goldilocks economy ideal for risk assets. The conversation touches on Bitcoin's role as an attention asset, challenges it faces, and the rise of stablecoins. Ahluwalia also highlights emerging market investment opportunities in Brazil and South Korea, and discusses the dual-edged sword of AI's productivity impacts while assessing risks of the AI bubble. Finally, he emphasizes the transformative potential of tokenization in finance.
11 snips
Dec 25, 2025 • 52min
Major macro-tail risk for 2026?
Michael Nadeau, founder of The DeFi Report and an expert in crypto and Web3, dives into the changing U.S. economic landscape. He discusses macro risks, trade imbalances, and the implications of monetary policies. Nadeau highlights Bitcoin's unique market behavior and liquidity challenges, linking its recent movements to broader market sentiments. Additionally, he examines the impact of globalization on production and outlines potential opportunities and risks for 2026, providing valuable insights for investors.
Dec 18, 2025 • 1h 2min
This company will own more Bitcoin than Strategy
In this discussion, Mitchell Askew, the Head Analyst at Blockware and expert in Bitcoin mining economics, shares his journey and insights into the evolving Bitcoin landscape. He explores the dynamics of Bitcoin mining and energy demand, the impact of seasonal weather, and how miners support energy grids. The conversation also covers Wall Street's growing interest in Bitcoin, market predictions for the next few years, and the exciting potential of companies like MicroStrategy and 21Shares in the crypto space.
Dec 12, 2025 • 1h 9min
Bitcoin's True Potential: Why It's Not Money Yet!
In this chat, Hubertus Hofkirchner, an Austrian-school economist and BitCredit Protocol founder, delves into Bitcoin's potential as an economic asset. He discusses the lack of a credit layer critically needed for Bitcoin to function as true money. Highlighting the importance of flexibility in monetary systems, he introduces concepts like e-bills and wildcat mints for decentralized credit. Hubertus also critiques the role of banks in money issuance, emphasizing the need for innovative, non-custodial e-cash solutions in the evolving Bitcoin-based economy.
Dec 4, 2025 • 58min
Brent Johnson on what everyone is missing about stablecoins
Brent Johnson, CEO of Santiago Capital and a macro strategist known for his dollar milkshake theory, dives deep into the world of stablecoins. He discusses how stablecoins could reinforce the dollar's supremacy while complicating currency dynamics globally. Brent explores the historical role of money as a tool of state power, the libertarian views on currency, and how the adoption of stablecoins may reshape banking. He also analyzes the geopolitical implications and responses from states wary of losing monetary sovereignty.
Nov 27, 2025 • 56min
Here’s what proper execution looks like as a crypto trader
In this engaging discussion, Jordan Permabull, the founder of Levolytics and a crypto data analyst, shares his journey into the world of cryptocurrency since 2016. He emphasizes the critical importance of execution over mere analysis in trading. The conversation covers understanding market signals, risk management strategies, and the emotional identity of Bitcoin holders. Jordan also delves into interpreting market disorder, volume significance, and creating a solid trading plan, ensuring that traders can effectively navigate the volatile crypto landscape.
