2 years ago
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In this occurrence of the “Fed Watch” podcast, owed to fashionable demand, I invited Tom Luongo backmost connected the show! Luongo is 1 of my favourite writers owed to his entertaining prose and profoundly refreshing penetration connected planetary macro, geopolitics and currency markets. He is besides a semipermanent Bitcoiner, discussing it for galore years successful his penning and podcasts.
“Fed Watch” is the macro podcast for Bitcoiners. In this episode, we commencement by getting a large representation presumption from Luongo connected the planetary situation, past dive into immoderate specifics astir Europe, the U.S., the Federal Reserve, Ukraine and overmuch more. We wrapper up the amusement talking astir what Luongo sees for the U.S. successful the abbreviated to midterm, so, the adjacent 3 to 24 months. Below, I’ll supply a small much item connected what was said, but this is simply a must-listen episode!
The Sick Man At The Table
The archetypal question I inquire Luongo is, is helium arsenic bearish arsenic everyone else? It seems everyplace we look, radical are screaming astir carnivore markets and collapse, from macro to geopolitics to bitcoin. However, I deliberation this illness communicative is overdone, particularly for the United States. I inquire Luongo to springiness america his wide representation of the authorities of the markets.
He starts successful by identifying the sick antheral astatine the table, that being Europe. Europe is deed the hardest by the forces that person been unleashed close now: rising commodities prices, rising inflation, nonaccomplishment of assurance successful institutions, etc. As Europe struggles and begins to cannibalize itself, each the superior successful concern portfolios successful Europe volition yet person to travel somewhere, and it’ll travel to the United States.
The struggle that has started successful Ukraine is connected Europe’s doorstep and, specifically, connected the doorstep of the champion system successful Europe implicit the past decade: Poland. Luongo asks rhetorically, “Is Warsaw [Poland] oregon New York person to Ukraine?” As investors recognize that this caller struggle is not going distant — and past combat it with economical weapons arsenic they person been — they indispensable destruct their ain economies. Money volition rapidly fly Europe to the U.S. I judge that it volition besides travel into bitcoin.
The Federal Reserve Is Serious
I inquire Luongo if helium thinks the Fed volition spell done with uber-hawkish complaint hikes. His reply eloquently lays retired that Jerome Powell’s program to rise rates backmost successful 2017 was interrupted by COVID-19, and present Powell is going scorched world to rise rates to interruption the backmost of each different cardinal slope and rival currency.
The crushed the Fed volition bash this, according to Luongo, is that the Fed, owned by Wall Street banks and U.S. monied interests, is trying to lavation retired the decennary of malinvestment that’s built up since the Great Financial Crisis. He besides frames it arsenic a fracture successful the narration betwixt U.S. monied interests and the globalists successful Europe. We can’t recognize the Fed without knowing the Davos crowd’s intent to regularisation the satellite oregon pain it down.
According to Luongo, the Federal Reserve volition rise rates continually until 2024, to interruption the backmost of Davos and the extremist globalist/communist objectives. I thin to hold with him. Perhaps I wouldn’t enactment it arsenic colorfully arsenic Luongo does, but the globalists are “global communists” and volition pain the planetary system down earlier they admit defeat.
Bitcoin And U.S. Fates Are Intertwined
In the past portion of the episode, I inquire Luongo what helium thinks astir my theory: What is bully for the U.S. system is bully for bitcoin, astatine this infinitesimal successful time. A bulk of the bitcoin proviso is apt held by U.S. entities, the U.S. has the largest stock of mining, the largest stock of bitcoin funny people, the astir task superior wealth and immoderate of the astir lax regulation. So, if bitcoin is to thrive successful a large economy, it volition thrive successful the U.S.
Luongo tends to hold with maine connected this but breaks it down successful much detail, saying determination is simply a conception of Wall Street that likes bitcoin, and those are the aforesaid radical warring Davos. They are readying a SWIFT replacement and are affable to proof-of-work cryptocurrency due to the fact that they person wealth successful it now, with mining taking disconnected successful the U.S.
I can’t screen each his comments successful item due to the fact that what is large astir Luongo is helium takes threads from galore antithetic topics and weaves them unneurotic into a refreshing perspective.
After the supra exchange, we get into Bitcoin’s aboriginal successful regards to Europe. While we some are comparatively bullish connected the U.S. system implicit the adjacent 10 years — and that volition beryllium bully for bitcoin — we are besides some precise bearish connected Europe — and that, too, volition beryllium bully for bitcoin — arsenic it gives European superior a crushed to fly into bitcoin.
Again, this is simply a must-listen episode, with deadly superior topics mixed with Luongo’s entertaining storytelling ability.
That does it for this week. Thanks to the readers and listeners. If you bask this contented delight subscribe, reappraisal connected iTunes and share!
This is simply a impermanent station by Ansel Lindner. Opinions expressed are wholly their ain and bash not needfully bespeak those of BTC Inc. oregon Bitcoin Magazine.
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