Simplified version of 1,000 hours of macro podcasts:
The Fed is tightening on a redemption ark to tackle inflation, which they're measuring with lagging indicators. They'll stop when A. inflation declines or B. something breaks. (treasury market)
Odds are B happens before A.
Podcasts turn walks, long drives, and flights into learning sessions with the most brilliant minds in the world. Easy to take for granted the ease of access to information we now have.
It's absolutely true that a lack of regulatory clarity in the US contributed to the scope of FTX International's fraud by driving more activity into unregulated markets.
But it's hard to say it caused the fraud itself. Crooks don't want clarity: they avoid US laws for a reason.
Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal.
Feels like a turning point for citizen journalism and loss of trust in MSM.
$TSLA currently ranks #1 in the entire Nasdaq-100 in terms of forward revenue growth (FY '23 vs FY '22) of +39% while trading significantly cheaper on fwd P/E than other companies growing at a similar pace at only 35x.
People used to think the media were neutral referees. Then they learned they were playing only for their own team. And trust in media collapsed.
Today some still think the central bank, banks, and bank regulators are neutral referees. Soon they’ll learn they were only playing
Binance and CZ sued by the CFTC.
US government was cool with SBF drafting crypto legislation with Gensler and sending user funds to politicians, but ever since their boy got exposed it's been an all-out assault on all things crypto by the US Government. Wild.
Reminder:
When the US government sells seized crypto assets, they use Coinbase.
According to the SEC, the US government is using an illegal unregistered securities exchange...