E38 w/Michael Howell: Liquidity Says It All
Description
Investment Grade Analysis 20% Discount
https://www.seekingalpha.link/34TNL7J/2QZRGT/
My guest today is Michael Howell, the author of Capital Wars.
He understands Global Liquidity and its effects on markets better than anyone I know, and I got the chance to pick his brains for an hour in this conversation.
Not only did we discuss liquidity, but also the dollar system, Bitcoin, the outlook for the rest of 2024 and much more.
Check out Michael’s work:
https://substack.com/@capitalwars
https://www.crossbordercapital.com/
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00:00 Introduction
02:30 What Is Global Liquidity?
05:20 What determines Liquidity?
10:30 How the MOVE Index affects liquidity
15:20 Where are we in the liquidity cycle?
22:00 China and the PBoC
26:30 Federal Reserve and TGA
31:00 World economy and QE
39:00 Long-term effects: Monetary Devaluation
45:00 Bitcoin as a monetary hedge
46:00 Protect your portfolio
51:00 US dollar and US Outperformance
53:00 AI and market concentration
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe
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