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Joe Weisenthal Profile picture
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Mar 2 • 4 tweets • 2 min read
FROM THE NEW ODD LOTS:

@tracyalloway and I talked with the legend, Zoltan Pozsar about the state of the world.

It was a wide ranging conversation, but he believes this moment could be the beginning of the end for US dollar global dominance.

bloomberg.com/news/articles/…
@tracyalloway He also believes that we're in a new era for gold, which has suddenly taken on increased importance. And that the ruble itself could go gold-backed, with Russia having lost access to its foreign FX reserves.
And of course, you can listen to the episode on all the apps

Apple: podcasts.apple.com/us/podcast/zol…

Spotify: open.spotify.com/episode/7xDQrG…

Etc
FULL TRANSCRIPT:

Text of our conversation with Poszar now up. Tons in here, that we didn't get into in the piece above, including his thoughts on the Fed's challenge here, and so forth. bloomberg.com/news/articles/…

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More from @TheStalwart

Joe Weisenthal Profile picture
Feb 27
Very interesting. The Ethereum address posted by the @ukraine account, which Bloomberg confirmed is legit, has taken in far more money than the Bitcoin one.

$4.1 million worth of ETH and other tokens vs. ~$1.1 million of BTC.

bloomberg.com/news/articles/…
@Ukraine Here you can see all of the different ETH-based tokens that the address has received. The 4th biggest holding of the address is a coin called Saitoki Inu etherscan.io/tokenholdings?…
@Ukraine And here are some NFTs that have been donated to @ukraine etherscan.io/tokenholdings?…
Read 4 tweets
Joe Weisenthal Profile picture
Feb 16
WHY NAILS $$ HAVE SURGED AND BECOME HARDER TO FIND

There was tons of interest in our episode on nails. So I wanted to understand what's going on now. Joe Leffler, the CEO of Power Tools maker Metabo-HPT explained to me what's really driving the surge. bloomberg.com/news/articles/…
A big part of it, per Leffler, is the simple math on freight.

Here's what it looks like: bloomberg.com/news/articles/…
And thanks to @fcastofthemonth for his insanely granular knowledge of BLS categories, knowing the two key lines to track nail (and other construction adhesive) prices.
Read 4 tweets
Joe Weisenthal Profile picture
Feb 7
TRANSCRIPT:

The full text of our conversation with @DanSichel1 about the price of nails is out.

Just a fascinating discussion about the history of nails that touched on so many different topics. bloomberg.com/news/articles/…
@DanSichel1 In 1695, one talented nailsmith could make one mail every minute.

Today, a worker at a nail factory can make about 3500 mails a minute.

Productivity going up! bloomberg.com/news/articles/…
@DanSichel1 Meanwhile, the price of nails has surged lately, amid a perfect storm of factors driving up the costs.
Read 5 tweets
Joe Weisenthal Profile picture
Feb 4
BOOOM. Jobs report crushes expectations.

467K new jobs in January vs. expectatiosn of 125K. So much for the big Omicron jump.

The unemployment rate rose to 4%, however, this is in the context of a big LFPR jump.

Also HUGE upward revision to last month.
The big story, IMO, are the big upward revisions to last month.

Labor market 🔥🔥🔥🔥
Big jump in 2-year yields.

March hike more than locked in, it would seem. bloomberg.com/news/articles/…
Read 7 tweets
Joe Weisenthal Profile picture
Feb 3
NEW ODD LOTS

@tracyalloway and I talked to @evabeylin, a director at The Graph and a member of the mostly anonymous crypto investing collective @egirl_capital.

She’s one of the doxxed members of the group, and she came on to tell us how it all works. bloomberg.com/news/articles/…
What’s great about Eva’s perspective, is that she’s an investor and builder in the space, so basically the perfect person to talk to about what’s happening in the space right now.
Also I’ve met @CL207 in person, and it really is a cat in a hazmat suit,
Read 4 tweets
Joe Weisenthal Profile picture
Jan 25
THE OTHER REASON THERE'S NO FED PUT RIGHT NOW

In today's @markets newsletter, I wrote how it's not just inflation that will keep the Fed hiking. It's also that, unlike with past market downturns, there isn't an associated growth scare.

Sub here: bloomberg.com/account/newsle…
Part of the reason it seems like the Fed always rides to the rescue of the market, when it goes down, is that there's usually something else going on beyond merely the decline itself. With this latest swoon, that's not really there.
It really is incredible how narrow credit spreads are right now. They were higher in late 2021. They spiked way more in late 2018, as well as the 2015/2016 China stuff.
Read 4 tweets

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