I think that the Federal Reserve right now is painted into a corner in which it has to continue

to buy assets to prop up equity markets. It almost has two new mandates to keep, you know,

valuations of equity markets afloat. And at the same time, suppress interest rates to continue

to allow companies to borrow at cheap prices and the government to also borrow at cheap prices. It's a dynamic that we're

seeing in which is an explosive mix for precious metals in general. It's a supercharge environment

for precious metals in my view. Any alternative for the monetary system, which Bitcoin

would be part of that too. Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by crypto.com, BitStamp, and nexo.io, and produced and distributed by CoinDess.

What's going on, guys?

It is Friday, September 11th, and today I'm really excited to share a conversation with Tavi Costa.

You may know Tavi from his Twitter where he's absolutely prolific, or even from his Instagram,

where he is valiantly trying to make

Instagram macro a thing. He is a super sharp, high-level market observer. He's a portfolio

manager at Crescat Capital. And in this conversation, we discuss the credit exhaustion

moment in the engines of global growth, the race to the bottom

for fiat currencies, the explosive moment for precious metals, and of course, I ask him his thoughts

about Bitcoin. There's no brief today, just this great interview, so I hope you enjoy it.

All right, we are back with Tavi Costa. Tavi, thanks so much for joining today.

Thanks for having me. Look forward to this conversation. Awesome. So let's start, I guess,

just for people who aren't familiar with you, quick personal background and where you find

yourself in the macro world today. Sure thing. So I am actually in Denver, Colorado. I was born and raised in Brazil. I moved to the

...