Latest CrossBorderCapital research #stablecoin swing balance of credit creation towards governments

'Treasury QE' explained

This is an excellent excerpt from my recent LNMS discussion with @crossbordercap "Eurodollars are not a good equivalent for stablecoins as the latter are not net credit providers. They expand liquidity (increase the supply of short-duration assets)." Why is this relevant, you might ask? Well... "Banks create credit. If banks are losing deposits to stablecoin issuers, banks might loose capacity to extend credit." What will be the consequences of this? Well... "Slower/less bank credit growth could mean the government will have take up the baton and increasingly act as credit creator, hence we increasingly move into a fiscal dominance world." This is a fascinating train of thought. I guess though, people like @BenKizemchuk would challenge that notion, given they follow Basil Moore's model of endogenous money???? For the full conversation, see the YouTube link below. Also, we expanded on the historical equivalent being the founding of the Bank of England in our recent Bitcoin book 'The Bitcoin Enlightenment". Link is below as well.

Global Liquidity Bitcoin Basket (GLI-BB™)

Latest 'Capital Wars' Substack ...A new Global Bitcoin Index

Latest 'Capital Wars' Substanck...A New # BTC Index

Thanks to @menlobear for this interview

OUT NOW - @crossbordercap's Michael Howell's view: - Liquidity set to RISE through end of year - Central bank easing has gone GLOBAL - Fiscal dominance is HERE Apple Spotify YouTube

US Treasuries looking pretty stable despite the noise!? Term premia decoupling favorably from RoW. Zero evidence of loss of safe haven quality

Kevin Warsh betting to replace Powell (blue) has been surging today. To be clear, Trump would be nominating a replacement Fed governor, and I believe it will happen soon (within the next few weeks) with Trump demanding that the Senate approve this nomination before the September 17 FOMC meeting. This would ensure three Governor votes to cut rates. It would be understood that this person would also be Powell's replacement, which would require a second nomination and confirmation at a later date.