Fed is monetizing Treasury debt, bitcoin ready
How the Fed is monetizing the debt, and why it will likely continue in a series of 10 pictures.
Dear readers,
I’m in learning mode. Yes, I’m writing a second book to be released this year that drives intense research, but building The Bitcoin Layer and teaching at USC have equal roles as well. Over the past few months, a handful of our own episodes have further intensified both my learning and research, evolving the investment framework one component at a time. I guess the more you learn, the more you realize how little you truly know.
On the other side of this process must come the confidence to convey a coherent message to you, our loyal subscribers, despite the epic confusion that comes after each thesis is incorporated. Today, I present a summary of my thoughts and the 10 most important charts I could structure for a holistic view of why the Fed will buy Treasuries and how it all proves bitcoin’s value. I’m excited to show you some brand new charts as well.
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Defaults are coming
Loan loss provisions are on the rise at banks, but the really scary part of this equation is the lack of data transparency around underperforming loans concerning factors such as office vacancies. The black line represents the total value of expected writedowns, while the orange line represents a percentage of outstanding loans: