Fed's Stealth Liquidity Is Fueling A Stock Market Rally | Michael Howell

Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- On today’s episode, Michael Howell CEO of CrossBorder Capital joins the show to share his outlook for the global liquidity cycle and what it means for markets throughout 2023 & into 2024. We deep dive into the mechanics of inflation, the impact of rising interest rate's on global refinancing, the reduced impact of QE from the Fed's shadow QE & the role of crypto & Gold in portfolios. To hear all this & more, you'll have to tune in! -- Follow Michael: https://twitter.com/crossbordercap Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Michael: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN20 for a 20% discount: https://blockworks.co/event/digital-asset-summit-2024-london Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Referenced In The Show: Stanley Druckenmiller & Paul Tudor Jones: https://www.youtube.com/watch?v=QWccFlgaBxA -- (00:00) Introduction (01:53) Liquidity Is Rising (05:01) The Path Ahead For Inflation In 2024 (09:34) DAS London Plug (10:52) The Liquidity Spiral (14:48) The Impact Of Rising Interest Rate's (17:44) The Liquidity Cycle (21:38) The Fed's Shadow QE (25:13) The QRA Fueled A Huge Stock Market Rally (30:40) Blockworks Research Ad (31:28) The U.S Fiscal Outlook Will Cause The Fed's Balance Sheet To Rise (40:29) Gold & Crypto (42:40) Who Is The New Marginal Buyer Of U.S Debt? (48:49) Crypto As An Inflation Hedge -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.