I need you to suspend your rational mind and engage your whimsical imagination; stay with me.
Take One.
It’s Saturday night at the rebooted Brooklyn Mirage, now called Pacha in New York City, the...
The months to come will be extremely bullish for Bitcoin and the overall crypto market. We might get some initial shakeouts but the engines are now ready.
Except... Bessent can't do a BOJ style YCC play: he's not in charge of the Fed. Warsh would need to play that hand.
All Bessent can do is swap bonds for T-bills, or drain the TGA, but that impact would be limited because he would need to issue more debt to refill those coffers before long.
If we really want to see things get silly, Warsh has to play ball.
Some of your best writing yet Arthur!
LMAO...this essay had me in stitches brother. Thank you!
now I have images in my head I’d rather not. Pure artistry. 🐇
The months to come will be extremely bullish for Bitcoin and the overall crypto market. We might get some initial shakeouts but the engines are now ready.
Except... Bessent can't do a BOJ style YCC play: he's not in charge of the Fed. Warsh would need to play that hand.
All Bessent can do is swap bonds for T-bills, or drain the TGA, but that impact would be limited because he would need to issue more debt to refill those coffers before long.
If we really want to see things get silly, Warsh has to play ball.
Thoughts on SLR adjustments to absorb issuance at the front end?