So we had Henrik Zeberg call for a 90% $BTC crash last time. Now? Total opposite vibe from Michael Howell, a liquidity guy who's been watching money flows for decades.
His angle: "The West is bust, and the world is changed."
Here's the thing — governments can't afford to issue long-term debt anymore because yields are too high. So they're rolling everything into short-term Treasury bills. And those bills? They're basically money printing without the label.
Howell's model says for every 10% bump in global liquidity, $BTC historically doubles. Not a prediction, just a pattern he's tracked.
He's not saying it's a policy choice. He's saying it's structural. The system's locked into printing because there's no other exit.
Most people still have close to zero in the one asset built for this kind of environment. That's the part that gets me.
We went deep on:
- Why the West can't issue real long-term debt anymore
- The liquidity model and how $BTC fits in
- Why monetary inflation quietly kills wealth in the wrong assets
- Aging demographics, AI, and what happens to bonds
Not certainty. Just one veteran's read on where the liquidity's going — and what that might mean for everything priced in it.
His angle: "The West is bust, and the world is changed."
Here's the thing — governments can't afford to issue long-term debt anymore because yields are too high. So they're rolling everything into short-term Treasury bills. And those bills? They're basically money printing without the label.
Howell's model says for every 10% bump in global liquidity, $BTC historically doubles. Not a prediction, just a pattern he's tracked.
He's not saying it's a policy choice. He's saying it's structural. The system's locked into printing because there's no other exit.
Most people still have close to zero in the one asset built for this kind of environment. That's the part that gets me.
We went deep on:
- Why the West can't issue real long-term debt anymore
- The liquidity model and how $BTC fits in
- Why monetary inflation quietly kills wealth in the wrong assets
- Aging demographics, AI, and what happens to bonds
Not certainty. Just one veteran's read on where the liquidity's going — and what that might mean for everything priced in it.