Cryptocurrency & Decentralization - Dash is positioned as a tool to combat central banks and financial censorship [1]

Monetary Policy - Monetization is defined as the permanent increase in the monetary base to fund the government [1] - Central banks engage in monetization by purchasing interest-bearing debt with non-interest-bearing money [1]

Market Narrative Shift - The market is anticipated to experience a narrative shift, potentially starting at Jackson Hole [1] - The market hasn't fully priced in the hawkish stance expected from central banks [2] Inflation and Economic Data - Powell's concerns from July are materializing, with underlying inflation data showing changes in goods inflation [2] - Household food goods have increased from 2% to 5% [3] - Electronic goods inflation has moved from 0% to 2% [3] - PC inflation is at 3%, with headline inflation at 350% (3.5) [3] - PMI data indicates increasing hiring intentions [3] Monetary Policy and Asset Pricing - The front end of the curve is mispriced, suggesting a potential upward pivot in the short end [4] - Risk assets are incorrectly priced, implying a substantial amount of volatility [4] - The economy's perceived strength poses a challenge for central banks [4] Risk Assessment - Risk assets may face a paradox, with a long-term positive outlook conflicting with short-term challenges [5]

Market Analysis - Bitcoin's $24 trillion (2.4T) asset value is attributed to central banks and governments' continuous money printing to monetize debt [1] - U.S. acquisition of Bitcoin is not a determining factor for its value [1]

How #Bitcoin works:👤 Sender||| _ _ _ __ _ _ _ _ _ _ _ _ _|🏦 Central Banks |💳 Card Processors |🏛️ Governments |_ _ _ _ _ _ _ _ _ _ _ _ _ _ ||||👤 Recipient ...

Market Trends - Central banks and jewelers reduced gold purchases in Q2 [1] - Successive all-time-high gold prices caused a slowdown in the rapid rally [1]

Market Trend - Coinbase CEO Brian Armstrong 表示，G20 国家和中央银行正在考虑购买 $BTC 作为其战略储备 [1]

Market Trends - Tether Gold surges 40% as central banks stockpile physical bullion [1]

Monetary Policy - Monetization is defined as the permanent increase in the monetary base to fund the government [1] - Central banks engage in monetization by purchasing interest-bearing debt with non-interest-bearing money [1]

This is a story about an invisible hand guiding the economy. No, not the invisible hand of self-interest that Adam Smith wrote about in the Wealth of Nations. This invisible hand is much more modern.It's that artificial intelligence we keep hearing so much about. Our special contributor, Larry Summers, is a macro economist who also sits on the board of Open Air. Who better to ask what I could mean for Adam Smith's economy.My guess is that this is going to raise the neutral rate of interest over time, both b ...