There's the dollar melting away below 98. It's now at its lowest level since March of 2022, and it's down about 10% against a basket of currencies year to date, as you can see there. Outflows fueled by the president's trade policies, rising odds of a Fed cut, and more.Our next guest, though, knows it's good news for another asset class, the rise of crypto. Mike Novagrath is founder and CEO of Galaxy Digital. They also had an IPO lately, Mike.Uh, it's good to see you again. I think what was the high we hit o ...

LISA: -- THE OUTLOOK FOR CREDIT INVESTING MORE BROADLY. YOU TALKED ABOUT HOW THE U.S. IS GOING TO GO BANKRUPT AND IS ON AN UNSUSTAINABLE FISCAL PATH. DO WE SEE THAT PRICED IN OR IS THERE STILL A RECKONING TO COME.JEFFREY: IT'S CERTAINLY BEHAVING DIFFERENTLY THAN IT WAS FOR THE LAST FOUR DECADES. WHAT WE'VE SEEN IS IN THE LAST 15 YEARS THERE'S BEEN A NUMBER OF CORRECTIONS ON THE S&P 500 AND EVERY ONE OF THEM, THE S&P WAS DOWN MORE THAN 10%, THE DOLLAR INDEX, THE TRADE-WEIGHTED DOLLAR INDEX GOES UP. THIS TIME ...

Market Trends & Investment Opportunities - The market is experiencing a paradigm shift where the long bond is no longer considered a flight to quality asset, with gold emerging as the preferred safe haven [2] - Gold has surged from $1,800 per ounce to over $2,000 per ounce, indicating strong investor interest [2] - Central banks are accumulating gold, reversing a decade-long trend of selling, suggesting a change in their investment strategy [3] - Gold is now viewed as a legitimate asset class, attracting a broader range of investors beyond survivalists and speculators [3] Monetary Policy & Fixed Income - The Federal Reserve's rate cuts in September 2023 led to a significant increase of 100 basis points in the yield of the 30-year Treasury bond [1] - The speaker anticipates this trend may continue, suggesting a potential inverse relationship between rate cuts and long-term Treasury yields [1] Central Bank Behavior - Central banks previously sold gold at prices as low as $300-$400 and are now buying it back at around $3,000, highlighting their poor long-term investment decisions [4]

You can't replace gold with Bitcoin, right. I can't make jewelry out of Bitcoin. I can't conduct electricity with Bitcoin.I mean, they make Bitcoin look like gold. When they draw it, it's a they make it gold and they put a bee on there and it's a coin, but it's just a string of numbers. It's not a coin.It doesn't have any color. How do you really see it compared to gold. It's nothing like gold.And I'm a true Bitcoiner there. I'm holding it down to zero. I'm going down with the ship like everybody else. ...