Peter Schiff is at it again, calling for Fannie Mae and Freddie Mac to be abolished and saying the market should set prices on its own: home prices can fall, and mortgage rates should rise if that’s what the market dictates. He’s not wrong, but the entire U.S. housing market relies on these two as a backstop. If they’re really dismantled, the mortgage market will be the first to blow up. Risk assets shouldn’t celebrate just yet in the short term—liquidity crunches don’t discriminate between stocks and crypto.

$BTC #Macroeconomics