Guest host: Nolan Bauerle, @CountBTC
Fed Watch is a macro podcast with a clear contrarian thesis of a deflationary breakdown of the financial system leading to bitcoin adoption. We question narratives and schools of thought, and try to form new understanding. Each episode we use current events to question mainstream and bitcoin narratives across the globe, with an emphasis on central banks and currencies.
In this episode, Nolan and I discuss all the big news items of the week having to do with central banks and bitcoin. Blackrock's Bitcoin ETF chances are still top of the list in Bitcoin news. We watch a couple clips of guys who know what they are talking about, Elliot Johnson of EBIT and James Seyffart of Bloomberg. Everything is aligning.
Next, we discussion MicroStategy (MSTR) and their recent bitcoin buy, then get into the North Carolina bill to study adding Bitcoin to their State balance sheet. We take a look at some bitcoin charts, all pressing up on resistance, looking very bullish. Lastly, we tackle the CBDC debate.
The BIS report we covered last week has been the driver of a lot of CBDC speculation this week. On twitter, I tried to debunk it and triggered George Gammon. Bottom line is CBDCs are not going to become a global "unified ledger." All their claims and rhetoric is reminiscent of the ICO white papers circa 2016.
In the whole BIS paper they didn't mention "consensus" once, which is a pretty big deal if you talking about a global, cross-border, sovereignty limiting, ledger. This shows that they are just writing down fantasies like all those ICOs that came before. None of what the BIS proposes is actually viable.
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