If USD/EUR falls below the pink trend line, it's a fall to ≈0.8785 From here the downtrend towards ≈0.8689 (monthly level) is setup to be resumed & likely under a tighter channel (up: pink, bottom: green) - so a faster downfall of USD against EUR Stay tuned 📻

🇺🇸 Cancelled tariffs means refunds, which means a larger budget deficit Rising bond yields means that deficit is (even) more expensive to refinance The FED will soon need inject liquidity via QE + lower interest rates

90% of all newly issued debt is for refinancing of existing debt, not new debt/financing Thus, new debt is extremely inflationary & asset bubble-nurturing The financial system is extremely leveraged at a high risk We need to fix this. DeFi is the tool

Michael Saylor doesn't need to expose MSRT's wallets for a proof of reserves All you need is Zero Knowledge Proof attesting that MicroStrategy has access to private key(s) holding a total of X BTC With ZKPs - no Bitcoin addresses are exposed ✨

All time high for gold incoming…

Sustained high bond yields combined with QE will lead to an inflation of equity and risk asset prices Here's how 👇 1️⃣ High yields = high required base return 2️⃣ Inflow of QE funds into equities & crypto 3️⃣ Equities & cryptocurrency prices increase Further fuel for the bubble

⚡️ US Bond yields directly affect USD liquidity Here's how 👇 1️⃣ Repo + reverse repo market provides $5 trillion of liquidity 2️⃣ US bonds represent ≈70% of collateral 3️⃣ Lower bond prices means smaller loans, leading to a liquidity squeeze

🏦 Quantitative Easing (QE) by a Central Bank (CB) increase both - its assets & liabilities 👇 QE = CB buys securities from commercial banks 👆 This involves: 1️⃣ Transfer of securities to CB (asset UP) 2️⃣ Credit the bank's reserve account (liability UP)

👉 M2 Supply ≠ Liquidity 👈 M2 is only a part of the total liquidity 🔎 Here's an example: Repurchase agreements market adds ≈$17T in the form of security-backed short-term credit, thus increasing available currency M2 does not account for the repo market

⚡️ Crypto market cap down 2.6% today Explains the overall pullback across prices. Some went into gold & bonds (yields are down today) Could head a little lower - but definitely temporary. Expect inflows/increase soon

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Gold is having its “calm before the storm” moment 😄 New all time high is coming very soon to all markets close to you

Of course - context is always needed In 2002 Fed Funds Rate was x3 smaller At that time, rates were higher overall To find rates as small as in 2002, you’d need to go back to the 1960's 😳 For 15 years now, US had effectively been under QE financing - cheap debt 🏦🫧

🤯 The year is 2002… US bond yields are at the same high levels as they were in 2002… That’s 23 years ago In 2002 US national debt was x6 SMALLER than now 5.1% now is not the same as 5.1% before - it’s worse. Much more debt to refinance & pay interest

Who’s ready for a new gold ATH? 🙋 You don’t have to guess - just look at the systemic raising bond yields across all maturities & multiple sovereigns

🇨🇭Not all European bonds are crashing The yields on the 10 year Swiss bond is actually down ≈40% over the past 3 months, although up ≈12% over 6 months

🚨🇺🇸 30Y bond yield is up 132 bp in 1h 30 year US bond is not only trading above 5%, but had its price fall by ≈1.34% in the short span of 60 minutes And you thought crypto & meme coins were volatile 😂

A month ago me and Gemini 2.5 Pro Deep Research had a disagreement 🇯🇵 Gemini said Japan will continue with QT, while I think they will be back to QE soon With Japanese bond yields at ATHs - which one of the scenarios do you find more likely? 😁

🇺🇸 US bond yields are at their ≈2006 levels 🏦 Current FED Funds rate is about the same as it was in '06 💰 The US Dollar Index is significantly higher today than in '06 High volatility in the bond market became a norm. Volatility & risk go hand-in-hand Concerning!

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🇺🇸 Good morning, It’s another green day for US bond yields

🇷🇺 Russian Bond Yield Curve Is Inverted An inverted yield curve is usually a bad sign (e.g. recession) However, 🇷🇺's fundamentals are healthy Why inverted? 🇷🇺 Central Bank's 21% key interest rate, or rather the expectation of it going down, is what’s pushing this shape

Here's why bond yields skyrocketing worldwide ⬇️ Countries own a lot of US debt (bonds) Moody's downgraded the US credit rating Now, countries are at a higher risk of default, because the US debt they own is now less valuable = higher chance of country's default (simplified)

Btw I've since learned that gold is only ≈10% of total reserves of the Portuguese Central bank - that's low It's 80% of their international reserves - those are basically regulation-defined ratios that banks must maintain (look into BASEL rules if curious)

It's very okay to leverage, as long as you are sufficiently hedging the risk. In practice this means that you are explicitly quantifying & accepting a certain percentage of risk in exchange for a certain return/alpha