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🇺🇸 White House Crypto Summit recap:
• President Trump says US considers buying "sizable" amounts of Bitcoin & other crypto.
• Trump calls on Congress to pass Crypto Clarity Act.
• Trump says US is ensuring it remains the "undisputed leader" in $BTC & crypto.
• Hyperliquid $HYPE pumps 15% to $69 after Trump says CFTC is working to bring it to US.
• SEC Chair Paul Atkins says "we will ensure that the greatest advances of the technological frontier are realized right here in America."
• Gemini co-founders say "America should lead in crypto and win in market."
• Trump says he "ended the war on crypto once and for all."
Treasury just announced that it will buy more long-term Treasuries private investors no longer want to hold to try to keep yields from rising. The money to pay for it will ultimately be created by the Fed, sending inflation soaring. That's why gold is already up $125 on the news!
Japan is cornered & has 3 moves left.
1. Hike rates: carry trade unwinds & pension funds get torched
2. Sell treasuries to buy yen: the US bond market gets torched
3. Lean on the Fed's swap facility (dollar printer): US inflation picks up.
There are no good options left.