Episode 121
Can I get your...GPS cords?
February 4th, 2024
1 hr 1 min 59 secs
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About this Episode
Pre-Show
Harvard report on housing in the USA makes the obvious conclusion that homelessness is all about prices, wages are stagnant or falling while housing is getting more expensive due to both constrained supply and the use of real estate as an investment vehicle
News
- While the U.S. Whitehouse pushes for a new edict to register all bitcoin mining in the USA, including GPS coordinates of miners, power demand from AI companies is keeping coal burning powerplants operation past their intended EOL
Economics
Arthur Hayes' thinks that Bitcoin will go down and then up ... no duh
Rember Evergrande? A Hong Kong court has ordered liquidation of the company's assets, which spells trouble for Chinese savers
The US Federal Reserve's Bank Term Funding Program will stop bailing out US Bank's underwater treasury portfolio's in March while US Regional banks are still under financial pressure
Western Alliance Bancorp’s shares fell 4.8%, while those of Valley National Bancorp dropped 5%. Comerica’s (CMA.N), opens new tab shares fell 2.1%.
The S&P 500 Banks index fell roughly 1.2%.
The fall of U.S. regional banks stocks on Wednesday translated into $685 million in paper profits for short sellers, according to data and analytics company Ortex.
Borrowing from Fed's emergency lending program rose to a fresh record, just before Fed raised the facility’s interest rate to stop financial institutions from taking advantage and arbitraging on its attractive terms. Demand for Bank Term Funding Program rose $6.3bn to an ATH of $167.8bn.
Borrowing has jumped by $50bn since mid-November after program’s rate increasingly fell below the rate at which institutions could earn money by parking reserves at Fed. Any increase from here is not arbitrage-driven. (BBG)
Privacy
- Has Finnish law enforcement cracked Monero traceability or did a hacker accidentally upload his home folder during an extortion drop?
Bitcoin Education
- Bitcoin Optech #287 covers a new replace by fee model as well as more discussion of 'exogenous fee' incentives
Feedback
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show courtesy of Jupiter Broadcasting