Follow On The Margin On Spotify: <a href="https://spoti.fi/46WWQ6T" target="_blank" rel="nofollow">https://spoti.fi/46WWQ6T</a><br />Follow On The Margin On Apple Podcasts: <a href="https://apple.co/3UsnTiM" target="_blank" rel="nofollow">https://apple.co/3UsnTiM</a><br />Follow Blockworks Macro On YouTube: <a href="https://bit.ly/3NKpujX" target="_blank" rel="nofollow">https://bit.ly/3NKpujX</a><br />--<br />On today’s episode, Arthur Hayes CIO at Maelstrom Fund joins the show to explore his current macro framework and how that will impact crypto for the rest of the year & into 2024. <br /><br />We discuss the bursting of the sovereign debt bubble as bonds continue one of their largest sell-off's in U.S history, the dreaded bear steepener and it's impact on bank balance sheets, market liquidity & how crypto can act as a safe haven during periods of financial repression, deleveraging & inflation. To hear all this & more, you'll have to tune in!<br />--<br />Follow Arthur: <a href="https://twitter.com/CryptoHayes" target="_blank" rel="nofollow">https://twitter.com/CryptoHayes</a><br />Follow Maelstrom: <a href="https://twitter.com/Maelstromfund" target="_blank" rel="nofollow">https://twitter.com/Maelstromfund</a><br />Follow On The Margin: <a href="https://twitter.com/OnTheMarginPod" target="_blank" rel="nofollow">https://twitter.com/OnTheMarginPod</a><br />Follow Michael: <a href="https://twitter.com/MikeIppolito_" target="_blank" rel="nofollow">https://twitter.com/MikeIppolito_</a><br />Follow Blockworks: <a href="https://twitter.com/blockworks_" target="_blank" rel="nofollow">https://twitter.com/blockworks_</a><br />--<br />Digital Asset Summit 2024. Use Code: MARGIN20 for a 20% discount: <a href="https://blockworks.co/event/digital-asset-summit-2024-london" target="_blank" rel="nofollow">https://blockworks.co/event/digital-asset-summit-2024-london</a><br /><br />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 <a href="https://www.blockworksresearch.com/" target="_blank" rel="nofollow">https://www.blockworksresearch.com/</a><br />--<br />Referenced In The Show: <br /><br />Oil: The Making of the Modern World: <a href="https://podcasts.apple.com/gb/podcast/167-oil-the-making-of-the-modern-world/id1537788786?i=1000555057140" target="_blank" rel="nofollow">https://podcasts.apple.com/gb/podcast/167-oil-the-making-of-the-modern-world/id1537788786?i=1000555057140</a> <br />--<br />Timestamps:<br /><br />00:00 Introduction<br />00:38 The Debt Problem<br />05:43 The Dreaded Bear Steepener<br />10:56 Are U.S Banks In Trouble Again?<br />15:30 The Social Consequences Of Too Much Debt<br />20:19 DAS London<br />21:36 Financial Repression<br />28:18 Trade Wars Are The Mirror Image Of Currency Wars<br />33:11 Blockworks Research<br />42:27 Bitcoin<br />43:15 The Crypto Bull Market<br />54:42 The Bitcoin Halving<br />56:05 Liquidity<br />--<br />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.<br />...<br /><a href="https://www.youtube.com/watch?v=RVgdD3Av47A" target="_blank" rel="nofollow">https://www.youtube.com/watch?v=RVgdD3Av47A</a>