Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more.\nVanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/\n__\nFollow Joseph Wang on Twitter https://twitter.com/FedGuy12\nFollow Lou Crandall on Twitter https://twitter.com/Fedwatcher\nJoseph's piece on Real Rates: https://fedguy.com/higher-real-rates-for-longer/\nMore about Wrightson ICAP: https://www.wrightson.com/\nFollow VanEck on Twitter https://twitter.com/vaneck_us\nFollow Jack Farley on Twitter https://twitter.com/JackFarley96\nFollow Forward Guidance on Twitter https://twitter.com/ForwardGuidance\nFollow Blockworks on Twitter https://twitter.com/Blockworks_\n__\nUse code FG10 to get 10% off Blockworks\u2019 Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london\n__\nTimestamps:\n(00:00) Introduction\n(00:40) Reverse Repo Decline Driven By A) Decline In Fed's Balance Sheet And B) Increased Supply Of Treasury Bills And C) Private Repo Market Demand\n(05:45) The Liquidity Demands Of The Basis Trade (Long Cash Treasurys / Short Treasury Futures) Is Drawing Money Out Of Fed's Reverse Repo (RRP) Facility\n(12:40) VanEck Ad\n(13:22) Lou's Accurate Prediction On Why Fed's Bank Term Funding Program (BTFP) Would Not Be Renewed (It Wasn't)\n(17:10) Fed's Balance Sheet Policy: Quantitative Tightening (QT)\n(25:30) Summary From Jack\n(27:01) Money Market Data Could Indicate QT Will Continue For Longer\n(28:28) DAS Ad\n(33:14) Interest Rate Outlook On Fed Cutting Cycle\n(37:17) Inflation And Real Interest Rates\n(43:43) Potential Government Shutdown In U.S.??\n(46:33) Tax Season Approaches! The Plumbing Of Refunds\n(49:31) Joseph's Closing Thoughts On U.S. Fiscal Situation\n__\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.