Episode Details

Michael Howell joins me to break down one of the most important macro setups in the world right now: falling global liquidity, rising oil prices, a growing debt maturity wall, and the changing relationship between the Fed, the Treasury, and the global monetary system.

We cover:

• Why Michael believes the global liquidity cycle peaked in late 2025

• How the Iran war and oil shock are draining liquidity from financial markets

• Why oil could move much higher from here

• What the debt maturity wall means for financial stability

• Why the Fed’s reserve management purchases matter

• How stablecoins could re-dollarize the world

• Why China may be moving toward a different monetary model

• How Michael is thinking about asset allocation in this environment

• Why bitcoin and gold remain core long-term holdings

This is a big-picture conversation on liquidity, monetary inflation, commodity shocks, bond markets, stablecoins, and bitcoin’s role in a changing global system.

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Cross Border Capital → https://crossbordercapital.com

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00:00 Introduction to Global Liquidity and Oil Shock

02:59 Impact of Oil Prices on Liquidity and Markets

05:44 Gold and Oil Price Dynamics

08:52 Yield Curve Outlook and Market Reactions

11:43 Bitcoin's Performance Amidst Market Turbulence

14:49 Federal Reserve's Reserve Management Purchases

18:02 Stablecoins and the Future of Currency

20:58 Debt Maturity Wall and Financial Stability

27:11 Understanding the Global Liquidity Cycle

29:08 The Debt-Liquidity Nexus Explained

30:56 The Everything Bubble and Its Implications

34:28 Geopolitical Tensions and Monetary Systems

38:56 China's Economic Strategy and the Yuan

42:30 The Evolving Role of the Fed and Treasury

50:23 Asset Allocation in a Changing Liquidity Cycle

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