About this episode
Michael Howell joins me to break down one of the most important macro setups in the world right now: falling global liquidity, rising oil prices, a growing debt maturity wall, and the changing relationship between the Fed, the Treasury, and the global monetary system.
We cover:
• Why Michael believes the global liquidity cycle peaked in late 2025
• How the Iran war and oil shock are draining liquidity from financial markets
• Why oil could move much higher from here
• What the debt maturity wall means for financial stability
• Why the Fed’s reserve management purchases matter
• How stablecoins could re-dollarize the world
• Why China may be moving toward a different monetary model
• How Michael is thinking about asset allocation in this environment
• Why bitcoin and gold remain core long-term holdings
This is a big-picture conversation on liquidity, monetary inflation, commodity shocks, bond markets, stablecoins, and bitcoin’s role in a changing global system.
Follow Michael on X → https://x.com/crossbordercap
Cross Border Capital → https://crossbordercapital.com
Capital Wars Substack → https://capitalwars.substack.com/
GL Index Data Provider → https://glindexes.com
Stack Bitcoin using your home equity → https://joinhorizon.com
See your home's Bitcoin potential → https://joinhorizon.com/calculator
Schedule a 1-on-1 consultation → https://calendly.com/d/cryw-39y-2j4/horizon-consultation
Follow Joe on X → https://x.com/JoeConsorti
00:00 Introduction to Global Liquidity and Oil Shock
02:59 Impact of Oil Prices on Liquidity and Markets
05:44 Gold and Oil Price Dynamics
08:52 Yield Curve Outlook and Market Reactions
11:43 Bitcoin's Performance Amidst Market Turbulence
14:49 Federal Reserve's Reserve Management Purchases
18:02 Stablecoins and the Future of Currency
20:58 Debt Maturity Wall and Financial Stability
27:11 Understanding the Global Liquidity Cycle
29:08 The Debt-Liquidity Nexus Explained
30:56 The Everything Bubble and Its Implications
34:28 Geopolitical Tensions and Monetary Systems
38:56 China's Economic Strategy and the Yuan
42:30 The Evolving Role of the Fed and Treasury
50:23 Asset Allocation in a Changing Liquidity Cycle
Disclaimer: Horizon is a technology company that helps users buy and custody their Bitcoin and does not directly provide financ
