#776: Yields Must Rise, Fed Must Hike with Michael Howell

<p>Michael Howell joins TFTC to break down why the Fed is trapped by rising bond yields and surging nominal GDP, forcing a return to rate hikes despite market expectations. We dissect the AI capex bubble, Treasury’s hidden debt monetization via bill issuance, and why global liquidity trends point to a crypto bottom by late 2026. Howell explains why Bitcoin outperforms gold as a monetary inflation hedge, how China’s PBOC liquidity drives gold, and why $40 trillion national debt is just the beginning of a state-led capital war era.</p>
<p>CrossBorder Capital on X: <a href="x.com/crossbordercap">https://x.com/cr…;
<p>GLIndexes: <a href="glindexes.com/">https://www.glindexes.…;
<p>Find the Home Mining Playbook here: <a href="tftc.io/home-mining-energy-playbook">h…;
<p>STACK SATS hat: <a href="tftcmerch.io/">https://tftcmerch.io/&l…;
<p>Our newsletter: <a href="tftc.io/bitcoin-brief/">https://www.tf…;
<p>TFTC Elite (Ad-free & Discord): <a href="tftc.io/#/portal/signup/">https://www.…;
<p>Discord: <a href="discord.gg/yHGkvYxdqT">https://discord…;
<p>Opportunity Cost Extension: <a href="opportunitycost.app/">https://www.oppo…;
<p>Shoutout to our sponsors:</p>
<p>Block:</p>
<ul>
<li><strong>Cash App</strong>: For a limited time, new customers can get $21 added to their balance. Just use code <strong>TFTC10</strong> when you sign up, and send at least $5 to a friend in the first two weeks. Terms apply. Bitcoin services by Block, Inc. See the Bitcoin disclosures at cash.app/legal/podcast.</li>
<li><strong>Square</strong>: Visit <a href="square.com/go/**tftc**">http://square.…; for up to $200 off eligible Square hardware.</li>
<li><strong>Bitkey</strong>: Use code <strong>TFTC10</strong> for 10% off the new Bitkey.</li>
</ul>
<p>Aven</p>
<p><a href="aven.com/bitcoin">https://www.aven.com…;
<p>CrowdHealth</p>
<p><a href="joincrowdhealth.com/tftc">https://www.…;
<p>Unchained</p>
<p><a href="unchained.com/tftc/">https://unchained…;
<p>Salt of the Earth:</p>
<p><a href="drinksote.com/tftc">https://drinksote.…;
<p>Join the TFTC Movement:</p>
<p>Main YT Channel</p>
<p><a href="youtube.com/c/TFTC21/videos">https://w…;
<p>Clips YT Channel</p>
<p><a href="youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ&q…;
<p>Website</p>
<p><a href="tftc.io/">https://tftc.io/</a>&l…;
<p>Newsletter</p>
<p><a href="tftc.io/bitcoin-brief/">tftc.io/bitcoi…;
<p>Twitter</p>
<p><a href="twitter.com/tftc21">https://twitter.co…;
<p>Instagram</p>
<p><a href="instagram.com/tftc.io/">https://www.in…;
<p>Nostr</p>
<p><a href="primal.net/tftc">https://primal.net/tf…;
<p>Follow Marty Bent:</p>
<p>Twitter</p>
<p><a href="twitter.com/martybent">https://twitter…;
<p>Nostr</p>
<p><a href="primal.net/martybent">https://primal.n…;
<p>Newsletter</p>
<p><a href="tftc.io/martys-bent/">https://tftc.io/…;
<p>Podcast</p>
<p><a href="tftc.io/tag/podcasts/">https://www.tft…;
<p><strong>Disclosure:</strong> Bitcoin services are provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories, and not all services are available in all states. Bitkey is not available in New York. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Bitcoin is a non-deposit, non-bank product that is not FDIC insured and involves risk, including monetary loss. For additional information, see the <a href="help.cash.app/btcdisclosures">Bitcoin disclosures</a>: <a href="help.cash.app/btcdisclosures">https://…;
<p>Get up to $200 off Square hardware when you sign up at <a href="square.com/go/tftc**!**">http://square…; #squarepartner. Offer expires December 31, 2026 at 11:59 pm PST. Offer for $40 off the cost of one Square Stand, $75 off the cost of one Square Terminal, $100 off the cost of one Square Handheld, or $200 off the cost of one Square Register, excluding applicable taxes. Limited to one discount per product type per seller account. Each code is limited to one redemption per account holder. Valid for new Square customers located in the US only. Offer not valid with guest checkout. Square reserves the right to modify, revoke or cancel the offer at any time. Offer cannot be combined with any other coupon. Void where prohibited, not redeemable for cash, and non-transferable. #squarepartner #blockpartner</p>