Jordon Gecko
@Cryptodad4442
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Family office. Investment musings. Views my own.
Quinta do Lago
Joined May 2012
@alphaextract_ Forgive me if I’ve asked before but how are you calculating global liquidity, beyond M2 and CB balance sheets (e.g. in the US the ON RRP and TGA). Would be super to learn more.
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Say we have muddling global liquidity (oscillates through 2025 between periods of looser and tighter conditions) but on-chain activity decouples and continues to grind higher, and that on chain activity drives market flows, is that enough to offset any lack of momentum in global liquidity.
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@SemlerEric @saylor What about the Gold Miners - those with strong FCF yields, low cash costs and in good jurisdictions. They could de facto build a “dual debasement strategy”, with an analogue P&L hedge coupled with a digital / BTC balance sheet. We’re an activist house. DM me if you want to chat.
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While I have you, what's the liquidity "leakage" so to speak between a dollar of QE and a dollar of "not QE-QE" (i.e. TGA drawdown)? In other words what's the differences in the equity reaction functions? Bessent over the weekend was very focused on yield curve control (BLOOM interview) and not giving any wiggle room on a weaker dollar, at least was my interpretation.
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@AndreasSteno @RaoulGMI @BittelJulien Yeah for sure, I think between you guys and Darius the bases well and truly covered. Get Kanye on next.
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@TimKotzman @LynAldenContact Her views on fiscal dominance leading to inflation. I think she’s gotten this one wrong, especially given AI and productivity.
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@DariusDale42 @42Macro Big D, is this available on the base tier subscription? Loving your work and looking to subscribe.
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@TomasOnMarkets What’s the lowest level the TGA they’d run down to, in your opinion? Any other liquidity levers Bessent can conjure up??
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