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35,922 Views ⢠Apr 18, 2024 ⢠Click to toggle off description
Learn more about VanEck Bitcoin Trust (HODL) vaneck.com/HODLFG.
VanEck Bitcoin Trust (HODL) Prospectus: vaneck.com/us/hodlprospectus.
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Michael Howell of Crossborder Capital and George Robertson of The Monetary Fronteir have two things in common: they both correctly predicted the renewed bull market in stocks and they both have been guests on The Forward Guidance podcast. That is where the similarities end, as Michael and George have entirely different explanations for what is driving the surge in equity prices. While Michael is renowned for his models on Global Liquidity and closely tracks the changes in central bank balance sheets (most notably the Fedâs), George dismisses the Fed entirely and thinks that monetary authorities have effectively zero influence on the economy and stock market. What ensues is a heated debate not just about what is driving the stock market and economy but about the very nature of money and credit creation itself. Recorded on April 10, 2024.
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Follow Michael Howell on Twitter twitter.com/crossbordercap
Follow George Robertson on Twitter twitter.com/BickerinBrattle
Follow Jack Farley on Twitter twitter.com/JackFarley96
Michaelâs Substack t.co/7jRGW9iR0S
Georgeâs Substack themonetaryfrontier.substack.com/
Michaelâs Book www.amazon.com/Capital-Wars-Rise-Global-Liquidity/âŚ
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Timestamps:
00:00 Introduction
00:32 Jack's Intro
02:28 Michael's Opening Statement
06:09 George's Opening Statement
18:17 The Draining of The Fed's Reverse Repo (RRP) Facility
24:59 VanEck Ad
26:03
28:38 The Portfolio Rebalancing Theory (I.E. How Quantitative Easing (QE) Theoretically Works)
45:21 Duration Impact of U.S. Treasury Issuing Longer-Maturity Paper
51:39 Spread Between Agency Mortgage-Backed Securities (MBS) Yield And 10-Year Treasury Yield
01:12:09 There's A Distortion In The Yield Curve, That's For Sure"
01:17:47 Beyond The Fed's Balance Sheet
01:23:18 Jack's Comment On Cause And Effect
01:25:07 Views On Markets: George And Michael Remain Very Bullish
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Disclaimer: Nothing discussed on Forward Guidance 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.
Views : 35,922
Genre: Entertainment
Date of upload: Apr 18, 2024 ^^
Rating : 4.996 (1/918 LTDR)
RYD date created : 2024-05-19T00:03:09.863328Z
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YouTube Comments - 215 Comments
Top Comments of this video!! :3
Investor skepticism surrounds the Fed's plan to maintain interest rates until inflation stabilizes. Personally, I'm unsure about investing $150k in my stock portfolio. I seek advice on the optimal strategy for navigating this market.
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Michael: Here's my thesis and supporting data
George: Trust me bro
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George=incoherent, inconsistent and contradictory
Michael=well spoken, consistent and winning!
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At 11 minutes in I had no idea what George was talking about. Glad I checked the comments and saved myself 90 minutes. I have seen recent Howell interviews and know his thoughts, so not missing anything skipping the rest
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5 minutes in and George is making no sense. Not sure why he's invited on this pod
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George is that kid in class who forgot to read the book but has to give a book report in front of the class.
"Yes, 'A Tale of Two Cities' was about, ummm, two cities. Yes. And ummm... they were really great cities. Awesome cities. Yea."
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Really difficult to understand George Robertson argumentations..
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Certainly. Exchange-Traded Funds (ETFs) are popular for long-term investments due to their diversified nature. ETFs offer exposure to a wide range of assets, such as stocks, bonds, or commodities, which can help reduce risk. Some top choices for long-term investing include broad market index ETFs, sector-specific ETFs, and bond ETFs, as they provide potential for growth and income over an extended period while minimizing the risk associated with individual stocks.
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George is just as bad as he was in his first appearance
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Damn Jack, love your show but George's rambling is brain numbing. Needed you to redirect.
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I gotta say, Iâm more with Howell on this one. I really enjoyed this format as a fan of Howell and his work because it allowed for a bit of discovery into his process and assumptions. Thank you Jack and Blockworks!
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George- most typical example of American âpseudo-intelligence â - (I know nothing but can talk a lot) I have ever experienced. đ¤
I am infinitely dumber for having wasted my time listening to any word salad he spewed đ˘
Strange how anything George canât understand - â doesnât existâ ! đŽ
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In the second part of the show, George, Michael, and Jack are saying the long end is discounted as part of Fed policy measures, which Michael is calling liquidity, while George has disagreed that this is a form of easing. Really good interview. The commenters saying that George doesn't make sense are not following his terminology. These are ex Solomon Bros. guys here people.
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Howell is the GOAT đWould be great to see see a deflationist like Danielle DiMartino Booth or Hugh Hendry debate him
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What is George saying!!?
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I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.
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George saying the federal reserve is required for democracy....all if his arguments are meaningless after that
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George was misrepresenting Michaelâs positions and using other views as examples that arenât even Michaelâs. đ¤¨
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I will never be able to follow Georgeâs logic
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@BlockworksHQ
1 month ago
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