Reverse Repo, Fed, and Bitcoin - Fed Watch #54 - Bitcoin Magazine

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In this episode of Bitcoin Magazine’s “Fed Watch” podcast, we, your hosts Christian Keroles and Ansel Lindner, are back from a well deserved break. We start out the show by reminiscing about the Bitcoin 2021 conference from a couple of weeks ago. It was the first time we met in person. Perhaps next time, we will record a podcast together live from the conference.

We also talk about current price action for bitcoin and the incredible last couple of weeks for bitcoin that is not yet represented in price. Of course, El Salvador and Taproot are very bullish for bitcoin, but we also give a bullish spin to the crackdown on mining in China.

Our main topic for this episode is debriefing the reverse repo situation and the latest FOMC meeting. In the statement from last week by Chairman Powell, the Fed left their headline monetary policy stable. However, there were several changes, one minor and two major. The minor change was the dot plots. Each meeting of the Fed’s FOMC, members place dots on a chart where they expect the Fed Funds rate to be in the future. From that dot plot market participants form their expectations about future Federal Reserve policy and also draw conclusions about current market conditions.

The Fed is trapped. It will be fascinating to see what is next. Stay tuned to Fed Watch: Bitcoin and Macro and we will keep you up-to-date on all the developments.

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iTunes: https://podcasts.apple.com/us/podcast/fed-watch-bitcoin-and-macro/id1543640492
Youtube: https://www.youtube.com/channel/UCtOV5M-T3GcsJAq8QKaf0lg
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FOMC statement: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
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Written by Ansel Lindner

Economist, author and bitcoin specialist. Find more from Ansel at the Bitcoin & Markets podcast (bitcoinandmarkets.com), the BitcoinDictionary.cc, and macro blog Bitcoin & Markets Research (BTCM.co).

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Timestamps:

0:00 - 0:47 Intro
0:47 - 2:00 Bitcoin 2021 and bitcoin going mainstream
2:00 - 3:29 Kevin O'Leary and going down the bitcoin rabbit hole
3:29 - 6:12 Why is the bitcoin price dropping?
6:12 - 6:59 Over leveraging in alt-coins
6:59 - 8:16 Every bull market is unique
8:16 - 10:12 Teaser for Fed Watch with Aaron Segal
10:12 - 11:50 The FOMC meeting
11:50 - 14:39 What is IOER and reverse repo?
14:39 - 16:54 The elevated demand for collateral
16:54 - 17:31 Bitcoin as the best store of value
17:31 - 22:59 How we got to this current macro environment
22:59 - 25:13 What will be the fallout of the changes announced at the FOMC meeting?
25:13 - 27:13 Monetary policy response analogies
27:13 - 28:19 The market is extremely fragile
28:19 - 30:33 Bitcoin operating within the chaos of the traditional system
30:33 - 32:41 Bitcoin Information Theory
32:41 - 33:13 How much can the bitcoin market be manipulated?
33:13 - 35:08 Closing comments

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