Episode Description
While US and Chinese leaders exchanged niceties in Beijing, bond markets were selling off hard. Thirty-year Treasury yields hit their highest level since 2007, inflation prints came in hot, and the Strait of Hormuz started looking like a live test of Bitcoin as money for enemies.
In this episode:
US-China summit theater and what was actually accomplished
Global bond yields hitting highs not seen since 2007
Hot CPI and PPI prints versus the AI productivity narrative
Treasury repo "dirty tricks" and lending against its own debt
Strait of Hormuz fallout: motor oil, sulfur, fertilizer, and helium
Iran's IRGC demanding Bitcoin for passage insurance
TIMESTAMPS:
00:00:00 - US-China summit and CEO theater
00:01:06 - Beijing's holding pattern
00:02:11 - Bond markets send the real signal
00:04:18 - Hot inflation prints and Fed fears
00:05:55 - AI productivity or transitory 2.0?
00:07:26 - 1999 Cisco chart echoes
00:09:00 - Hormuz physical supply shocks
00:11:06 - US debt math and sovereign spiral
00:13:09 - Treasury repo market creativity
00:16:26 - Japan hyperinflation warnings
00:17:13 - China refinery cuts: who blinks first
00:18:44 - Iran's Bitcoin-only Hormuz insurance
00:21:21 - Bitcoin as money for enemies
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