In this conversation, Michael Howell and Pascal Hügli explore the late stages of the current liquidity cycle, noting how policymakers are working to extend it by injecting more liquidity. They examine how a weakening dollar supports global liquidity, the relevance of the MOVE index, and how Treasury Secretary Scott Bessent aims to shorten duration—despite criticizing his predecessor, Janet Yellen. The discussion also covers the role of stablecoins in the U.S. debt landscape, why they differ from the eurodollar market, and how their adoption could inhibit bank credit growth. Finally, they consider how these developments point toward a Modern Monetary Theory (MMT) framework.Chapters:00:00 Intro02:33 Liquidity Moves in Cycled07:11 The Role of Debt in Financial Markets14:02 Late Stage Liquidity Cycle19:50 How Dollar Weakness Help Liquidity26:04 Asset Allocation in High Liquidity Environment32:34 Navigating Fiscal Challenges and Debt Management36:08 The Role of the Federal Reserve in Liquidity39:18 The Impact of Political Dynamics on Monetary Policy46:46 The Emergence of Stablecoins and Their Implications52:57 The Transformation of Banking and Credit Creation57:27 Investing in a World of Monetary InflationFollow Michael Howell:https://x.com/crossbordercapFollow me: Twitter - https://x.com/pahuegNostr - npub1qhx7lnggpv64f0wt5xyjj7h90qh5ewu35pspr66sj8alc4gvcfjqqn04l8Check out our sponsor Newhedge:https://newhedge.io/Newhedge is an analytics and intelligence platform for all the Bitcoin data you need! Get 50% off your subscription by using the code "Signal"! 🔥Bitcoin Book 👇Order from Europe: https://www.amazon.de/dp/1967693013Global: https://www.amazon.com/-/de/dp/B0F9W8Y283Thank you for subscribing to our channel! We’re excited to have you with us!#Liquidity #Stablecoins #MonetaryInflation #AssetAllocation #DebtRefinancing #FinancialMarkets #CentralBanks #EconomicStability #Collateral #InvestmentStrategies #GeniusAct #Genius #Bitcoin #BTC #Gold #InflationHedges #Hedges #MMT #FiscalDominance #Fiscal #Banks #CreditCreation 

Ver todos los episodios