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On today’s episode, Arthur Hayes CIO at Maelstrom Fund joins the show to explore his current macro framework and how that will impact crypto for the rest of the year & into 2024.
We discuss the bursting of the sovereign debt bubble as bonds continue one of their largest sell-off's in U.S history, the dreaded bear steepener and it's impact on bank balance sheets, market liquidity & how crypto can act as a safe haven during periods of financial repression, deleveraging & inflation. To hear all this & more, you'll have to tune in!
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Digital Asset Summit 2024. Use Code: MARGIN20 for a 20% discount: https://blockworks.co/event/digital-asset-summit-2024-london
Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/
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Referenced In The Show:
Oil: The Making of the Modern World: https://podcasts.apple.com/gb/podcast/167-oil-the-making-of-the-modern-world/id1537788786?i=1000555057140
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Timestamps:
(00:00) Introduction
(00:38) The Debt Problem
(05:43) The Dreaded Bear Steepener
(10:56) Are U.S Banks In Trouble Again?
(15:30) The Social Consequences Of Too Much Debt
(20:19) DAS London Plug
(21:36) Financial Repression
(28:18) Trade Wars Are The Mirror Image Of Currency Wars
(33:11) Blockworks Research
(42:27) Bitcoin
(43:15) The Crypto Bull Market
(54:42) The Bitcoin Halving
(56:05) Liquidity
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Disclaimer: Nothing discussed on On The Margin 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.
