The $1.5 Trillion Tantrum

Powell pulls the punchbowl and $1.5 trillion in 'paper wealth' vanishes. I'll unpack Wall Street's meltdown, JPOW's 'maybe we'll cut, maybe we won’t' strategy, and how inflation still runs the show.

Then, we take a serious look at the idea of a U.S. Strategic Bitcoin Reserve. Could an executive order make it happen overnight?

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LINKS:

• What Is the National Debt Costing Us? (https://www.pgpf.org/article/what-is-the-national-debt-costing-us/)

• Bitcoin Miner Hut 8 Buys $100M BTC Bringing Total Holdings to $1B (https://www.coindesk.com/business/2024/12/19/bitcoin-miner-hut-8-buys-usd100m-btc-boosting-total-total-stash-to-usd1b)

• The Dutch government urged to establish a National Bitcoin Reserve in an open letter. (https://x.com/cointelegraph/status/1869668999455273105?t=E9EIlRX-vHxbQ8g23lQU3A)

• CNBC Daily Open: Expectations on Fed cuts were the lethal blow to markets (https://www.cnbc.com/2024/12/19/cnbc-daily-open-expectations-on-fed-cuts-were-the-lethal-blow-to-markets.html)

• El Salvador secures $3.5 billion IMF financing package after agreeing to make accepting Bitcoin voluntary and unwind its Chivo wallet. (https://x.com/BitcoinMagazine/status/1869489853970493795)

• Bitcoin Crosses $108k, US Spot ETFs Are The Largest Holder, MSTR To Enter Nasdaq-100 (https://www.theya.us/research/bitcoin-crosses-108k-us-spot-etfs-are-the-largest-holder-mstr-to-enter-nasdaq-100/)

• US Federal Reserve cuts fed funds rate by 25 basis points (https://www.theblock.co/post/331199/us-federal-reserve-cuts-fed-funds-rate-by-25-basis-points)

• SUMMARY OF FED CHAIR POWELL'S STATEMENT (12/18/24) (https://x.com/KobeissiLetter/status/1869466949677400287)

• Bitcoin Policy Institute drafts Executive Order for a Strategic Bitcoin Reserve for President Trump (https://x.com/bitcoinmagazine/status/1869102704783716684?t=E9EIlRX-vHxbQ8g23lQU3A)

• A US strategic reserve could push bitcoin to $500K: Bitwise CIO - YouTube (https://www.youtube.com/watch?v=9HO2f6NJcWg)

• FASB Officially Adopts Fair Value Accounting Rules for Bitcoin Starting December 2024 (https://www.nobsbitcoin.com/fasb-bitcoin-fair-value-accounting/)

• El Salvador to Scale Back Bitcoin Policies for $1.4 Billion IMF Loan Deal (https://www.nobsbitcoin.com/el-salvador-to-scale-back-bitcoin-policies-for-1-4-billion-imf-loan-deal/)

• BlackRock releases 3 minute educational video explaining what Bitcoin is. (https://x.com/BitcoinMagazine/status/1869125598549061661)

MUSIC:

• Digital Age Blues by Simon C (https://podcastindex.org/podcast/7137570)