Today we will simply use an "imaginary debate" care of Hugh Hendry (HH) and Whitney Baker (WB) to discuss what we are experiencing in markets, economic badinage, and what to fear. For those unaware Hugh is an ex/retired HF founder turned macro commentator and Whitney was the EM head at Bridgewater turned macro commentator/HF advisory. Its music to this scribbler's ears but may be too esoteric for others, and thus I will try to highlight some critical points once I have copied and pasted the thread from Twitter:
Hugh is excellent at questioning received wisdom, and while he agrees with the headline (sort of) he thinks the logic to get to that conclusion is faulty at best. It also dismisses or misses the left-field threats to that argument, the reality that central banks in essence do not understand how money is created (not through their actions by rather through bank lending) and the threat of their dogma/stupidity means to the well being (or rather the detriment) of the masses. Whichever way you slice it, seeking protection while the storms rages around us, makes nothing but sense. FIX00 is the start of something new, a robust building block to reimagine and construct digital ownership & therefore commerce. We aim to use the cryptoverse infrastructure (the bits that work) to offer a service and an asset to a broader base of consumers, as opposed to endless insular and highly predatory financial and gearing Ponzi schemes that fueled the current great unwind. For more of what we offer we offer readers the following previous commentaries: https://www.fix00.com/post/substance-over-form https://www.fix00.com/post/substance-over-form
For a short overview of the FIX00 project 🙂 please use this link: The Start of something new
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