Settles Friday 3/25/2022
US govt 10Y near critical levels + Bitcoin added to settles
So we are adding the Bitcoin and Ethereum futures and cash to our daily settlements. The writing is on the wall and has been for quite some time and the desperate central banks will continue to try and compete with their weaker product CBDCs. We spoke about these Digital Central Bank Currencies as nothing more than a panic plea by the central banks who know full well stable coins threaten their power, not to mention Bitcoin itself. As the ecosystem goes failing fractional reserve lending and their power to enslave through debt creation is being systematically unwound by todays ongoing massive inflation. We say massive because there is a major difference between years past inflation and today’s in regards to the size and balance of global central banks and their respective treasuries debt. A debt system is no match for a decentralized immutable peer to peer technology, in particular Bitcoin, we know it, they know it and the pressure to dissolve this threat is fast, ongoing, immense and from the central banks point of view CRITICAL…
With that said let’s look at the crypto settles that we follow from Friday:
We will track both the cash and the future as this ecosystem continues to grow and offer investors an outlet to depreciating fiat currencies.
We saw on Friday a continued thrashing of the US yield curves as the 2Y and 5Y were obliterated +17.7bp and 19.7bp respectively:
The US Govt 10Y is quickly reaching critical failure as the 0.786 is approaching fast:
As far as the rest of the settlements for Friday:
Equity land continues to ignore the bond market moves yet we feel this dead cat bounce may be running its course. However, we never discount the veracity of the insane amount of wealth that can be levered and deployed to come to the rescue. We know the markets can be rigged, just ask JPM who gets slapped on the wrist with 100 million dollar fines when they most likely make billions off of these types of trades. We don’t bother proving this point rather you can read about it yourselves, Here and Here.
With that said we know the market is heavily biased to the upside and it should be, why? There is an ever constant flow of automatic buys from working class paychecks every month and two inflation almost guarantees asset price rise vis a vis nominal pricing in said fiat being devalued. So we don’t ignore those facts, not to mention central bank put selling when necessary and VIX smashing to catch everyone offsides. So yea we get it, market bias is up, has been and always will be, but don’t be fooled. We do not value the markets here in the long run as a “value” play rather a product of continued devaluation of currency. Now we have central banks way behind the curve and a global supply chain that has been systematically dismantled, most likely on purpose. Certainly not the recipe for global cohesiveness now is it.
Till next time…
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