Super interesting interview between @RaoulGMI and Ben Melkman with three big insights I found worth noting (see thread; I think the video might have a $1 paywall) https://www.realvision.com/shows/the-interview/videos/the-highest-quality-macro-trades-and-the-impending-end-of-u-s-outperformance?source_collection=8e80b18fdb074555bdd47d97e73fbe91

1) The US Treasury is sitting on $1.6T, never before having more than $400B saved. They speculate this is saved to blast the economy with liquidity leading up to the election. Essentially the Fed stole $1.6 trillion from the future and deposited it in Trump’s campaign warchest.

2) Melkman hypothesizes that the reason the US hasn’t put a stop to bitcoin is because the most it could do is stop dollar flows into it. Doing so would enable Russia and China to exploit bitcoin as a rival to the dollar’s hegemony.

3) Norway has saved $2 trillion of foreign assets over 30 years. Unlike every other country, fiscal expansion comes out of savings rather than monetary inflation and debt. If everyone’s currency crashes Norway and it’s krone will survive.