Male | Christ Follower | Liberty 🇺🇸 | Macro | FX & Rates | Bitcoin | Super Intelligence | Espressos
Joined February 2024
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Monetary Maverick 🛩️ retweeted
Growing up in the United States, NYSE was synonymous with the story of American capitalism. I vividly remember learning about the Buttonwood agreement in 9th grade history class. 24 stockbrokers met under a tree on Wall Street and formed the beginning of what would become the world's financial center. From pits to computers to now onchain markets, America has always led the way in innovating markets to improve price discovery and capital formation. Today the next chapter begins with ICE, trade[XYZ], and Hyperliquid.
ICE started as an electricity-trading platform in 2000, growing to acquire NYSE itself in only 13 years. It is a key infrastructure provider of America’s energy, bond, and mortgage markets. ICE is a rare story of exponential growth of a financial giant over decades, continually embracing innovation and technology.
trade[XYZ] was the first HIP-3 deployer and responsible for spearheading the flourishing global RWA perpetual market today. Only a year ago, trade[XYZ] launched its first RWA perpetual markets. They took a bet on HIP-3, which had just launched after months of tireless development. Having followed their journey from day 1, I cannot overstate how much Shoku and the team have poured into growing these markets to a genuine source of price discovery for the most important assets in the world.
Over the past three years, Hyperliquid has pioneered onchain infrastructure to house all of finance. Hyperliquid is nothing without its world-class builders. I am honored that trade[XYZ] and ICE have chosen to build on Hyperliquid to bring perpetual contracts to America.
When I first spoke to Jeff Sprecher around a year ago, he asked what success looks like to me. I thought for some time and joked that it would be seeing ICE building on Hyperliquid's technology. I could never have predicted the progress that we've made as a community in a single year to make this come true. Excited to see what we can build together next.
Intercontinental Exchange (ICE) and trade[XYZ] have announced their plan to use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US traders across crypto, equities, commodities, foreign exchange, and other real-world assets, subject to regulatory approvals. ICE operates NYSE and some of the largest exchanges and clearing houses globally.
In this structure:
+ Hyperliquid serves as the underlying technology infrastructure via HIP-3*
+ trade[XYZ] designs and implements the markets
+ ICE operates the regulated market and clearing structure
Existing trade[XYZ] HIP-3 markets will remain unchanged.
Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.
No one gets what’s happening…
There are 300T dollars in derivative collateral that can be targeted in the world.
The old system was where the debt is the collateral and it’s a snake eating its own tail because it relies on more and more debt.
The new system will be on crypto rails where the world moves to a more sustainable not debt ridden society.
The shift has been slowly happening but just wait until price gets a whiff.
NEW: Billionaire investor, Stanley Druckenmiller’s first post on X, is promoting trade(xyz) and Hyperliquid.
Insane timeline. Be more bullish.
$HYPE
Woahhh
$PURR
Monetary Maverick 🛩️ retweeted
To help Wall St pundits that are confused.
The Fed held rates, but the unspoken message is that Trump has until the December meeting to end the oil price shock with an Iran deal.
If oil doesn’t come down, the hikes will continue.
Warsh didn’t say it, but that’s the through line.
Americans are seeing higher prices every time they pull up to the gas pump, and Fed Chair Kevin Warsh says he’s not going to pretend otherwise.
“I am not going to be the guy who says that oil prices haven’t gone up. I don’t see it,” Warsh said, acknowledging that consumers are confronting higher costs firsthand.
He said those rising prices are pushing up near-term inflation expectations, but pointed to continued confidence among businesses and financial markets that the Fed will deliver price stability over time.
Monetary Maverick 🛩️ retweeted
I suspect he didn’t answer because he couldn’t tell the truth, which would’ve sounded something like this:
“Because when I raised rates 25 bps last month, LT UST yields took off like a scalded cat and that surprised me and freaked me out, so now I don’t know quite what to do.”
Getting eaten alive by frontier AI
$GOOGL Q3 EARNINGS
• Revenue $127.6B vs Est. $127.9B
• EPS $2.12 vs. Est. $3.01
• Operating Income $40.6B vs Est. $43.2B
• Cloud Revenue $30.7B vs Est. $29.1B
• CapEx $51.4B vs Est. $55.8B
Monetary Maverick 🛩️ retweeted
JUST IN: 🇺🇸 Treasury Secretary Bessent says crypto stablecoins can strengthen the US dollar's global dominance.
Here’s what many don’t get right here.
Hike or no hike, the outcome is the same.
The Fed/government MUST find a way to continue the AI buildout.
That’s it.
If they continue to hike at a more aggressive pace, doing that becomes harder.
If they do it much slower, it’s easier.
Too many people view the Fed’s mandate in a vacuum.
The mandate is not all that matters.
There are many more important things that are much more paramount for the U.S. than the Fed’s mandate.
Failing the mandate is what SHOULD happen in certain circumstances to protect what is most important.
What is most important?
In this moment in time…it’s the AI buildout.
I don’t make the rules.
Fed has lost the long end and there’s nothing they can do about it without tightening so much it hurts the economy with demand destruction/crashing AI which more importantly than just stocks falling, could cause the U.S. to lose to China in AI.
That in a nutshell, is why the Fed is cautious on being aggressive here.
They’d rather see the long end continue to march higher than to hike aggressively.
Hilarious.
Less chances to be wrong lmao.
BREAKING: Fed Chair Warsh announces plans to overhaul the Fed's meeting schedule beginning in Fall 2027.
Under the new framework, one of the Fed's 8 annual meetings will focus on long-term strategy rather than voting on interest rates.
By 2028, Warsh expects just 6 interest rate-setting meetings per year, down from the current 8.
This will mark one of the biggest changes to the Fed's monetary policy process in decades.
This statement is total BS and we know why.
Because they can’t do jack shit without putting the economy (mainly AI buildout) in jeopardy.
They’ll stand pat, slowly raise, and hope nothing breaks.
Monetary Maverick 🛩️ retweeted
SUMMARY OF FED DECISION (10/28/2026):
1. Fed leaves interest rates unchanged after September hike
2. Rate pause was a 10-2 decision with Cook and Hammack dissenting in favor of a rate hike
3. Fed says economic activity is "expanding at a strong pace"
4. Fed says inflation "remains elevated" and seeks more information
5. Fed notes that "geopolitical developments" are contributing to uncertainty
6. The Fed reasserts that "The Committee will deliver price stability"
"Higher for longer" continues at the Fed.
Monetary Maverick 🛩️ retweeted
Any time either the USD or oil get “too high”, foreigners will sell USTs aggressively to defend their currencies or finance oil-driven trade deficits.
This isn’t a choice or a speculation, it’s a Balance of Payments identity.
via BA
