"The Fed sent a behavioral incentive to markets that speculation was fine for way too long - a signal to markets that there was no risk when, in fact, risk was everywhere."
I've heard you reference Palisades podcast several times. I'm a fan as well. What other podcasts do you consider worth your time and attention?
What would one bitcoin be worth if it were valued in bitcoin ? :)
Wonder twin powers... activate. I love it when two of my favorite podcasts come together and talk to each other.
I hope all the crypto's blow up - it will teach this next generation about how the real world works. When i was in college it was the .com bubble - you could make 100% returns in hours or days. It seemed so easy - then shit hit the fan. Then all those "dumb" classes we took were making sense about Free Cash flow and Profitability. Best thing to happen to me was the .com bubble - mostly because i didnt' have a lot of money and so i could not lose much.
The Fed is in a tough spot - you have an administration that is doing everything in their power to keep inflation rolling (although they think they are saving the environment and helping the "people").
Look into SBF's using a Nevada LLC to move money into an AZ Super PAC.
The hubris of SBF & Caroline Ellison/Alameda should be a cautionary tale for everyone. Alameda probably had a few homerun trades as this bubble got going. Then SBF thought just throw custumer and investor funds down on it, there is no risk because all we do is win baby.
That was worth the listen, good stuff