Macro Joe

Full time on the Family Office of Joe Taylor, UK. Macro centric capital allocator. Life long learner. @hedgeye Padawan since April 2017.

[Macro Joe @wealthelf]

@Borg74 Fridays move in metals was noteworthy…ie was that the shift?

Looking for more follow through and bullish trend flips.

[Macro Joe @wealthelf]

1. This is basically a chart of 5-year real yield expectations.

2. I mainly see it as a chart of financial conditions:

Higher = tighter
Lower = looser

That is why rising real yields are usually a headwind for gold in the near to medium term.

But the real question is what is driving the move.

If real yields are rising because of healthy growth and credible policy, that is one thing.

If they are rising because the market is demanding greater compensation inside a deteriorating fiscal regime, that is another entirely.

In that case, hard assets can strengthen despite higher yields.

Interesting times for sure

[Macro Joe @wealthelf]

Note too self: After a few days in Croatia and some serious consideration, I realise I dress far too much like an eastern european dude taking his kids for a walk after an afternoon of DIY

[The Long View @HayekAndKeynes]

Let’s just call him Scamath @chamath

[Macro Joe @wealthelf]

@HLInvest
systems still down. Zero ability to trade. Adds to my experience of repeated resilience issues, admin friction, delays, and inability to act when it matters.

@IGcom
— serious opportunity here. Why is your SIPP not execution-only? Requiring adviser sign-off to transfer is completely out of step with modern, self-directed investors. Build it properly and you’ll win a lot of business...certainly mine...be quick!

[Macro Joe @wealthelf]

@hlinvest still down since yesterday. It's time to move SIPP provider.

[Macro Joe @wealthelf]

Dear @HLInvest

What use is a platform that cannot cope with big volume days, that as such does not let investors take gains nor let them stop losses?

Genuine question.

[Macro Joe @wealthelf]

In Dubrovnik surrounded by Toon fans

[Macro Joe @wealthelf]

Happy birthday @KeithMcCullough!

Mine tomorrow, and the best pressie would be is UK access to @hedgeye ETFs

Cheers!

[Macro Joe @wealthelf]

@TheCryptoSniper Godzilla

[Ricky Gervais @rickygervais]

Angry from Hampstead 😂

[Together @Togetherdec]

DIGITAL ID: “Will the Secretary of State listen to the millions of people who signed the parliamentary petition?” – @sianberry

The Government is refusing to listen to the public.

We need to make our voices heard louder than ever against:

- State-controlled Digital ID
- Mass surveillance
- Tracking and monitoring
- Debanking
- Free speech crackdowns
- The mission creep towards a potential "social credit" system - all too easy to envisage given the contempt we see from political class towards public

It is time to demand a Digital Bill of Rights #together.

[Hedgeye @Hedgeye]

Game. On. 🔥

Hedgeye's 15th "INVESTING SUMMIT"
October 14–16 | 11am-2pm ET
3 days. 9 webcasts. 0 excuses.

🔊

Reserve your free virtual seat: https://t.co/Ugft4De4oh

[Macro Joe @wealthelf]

@HedgeyeRJM @Hedgeye UK listing please Robert!

[Macro Joe @wealthelf]

@chrislittlewoo8 Great post. Bravo.

[Macro Joe @wealthelf]

Dark times here in the UK, with dark forces pushing for Digital ID.

[Chris Littlewood @chrislittlewoo8]

Digital ID for every adult is not progress. It is the end of a free society dressed up as convenience.

I am a cyber security specialist. This is my take.

They are selling it as a fix for illegal migration. That is bollocks.

We spend hundreds of billions a year on cyber security and yet the volume of breaches is breaking records. The threat is growing faster than the spend.

Digital ID will not stop boats. It will not stop trafficking gangs. It will not fix a broken border.

Criminals will work around it.

Honest citizens will pay the price.

It builds giant data banks that track where you go, what you buy, what you read and who you speak to.

It links your identity to every checkpoint in daily life.

One breach and your life is exposed.

Look at Jaguar Land Rover and the airports in recent weeks. Now imagine that at national scale on an ID system tied to everything you need to live your daily life.

Here is the risk that ministers will not admit.

Ransomware seeded through a supplier or an insider:

It lies quiet for months.
It rolls through the backups.
On trigger day the register and the recovery sets are both encrypted.

Payments fail. Health and benefits stall. Borders slow. Citizens are frozen out until a ransom is paid or the state rebuilds from scratch.

Centralise identity and you centralise failure.

Do not fall for the pitch.
Function creep is certain.
It starts as login.

It becomes access to money, travel, speech and public services.

It turns rights into permissions controlled by the state and its contractors.

It creates a single point of failure for criminals, insiders and hostile states to target.

It will punish the elderly, the poor and anyone who is not always online.

It will centralise risk and outsource blame.

It will not stop fraud.

It will not stop illegal migration.

It will build the machinery for a social credit system by stealth.

If ministers cared about the border, they would enforce current laws, resource patrols and processing, close loopholes and remove those with no right to stay.

You do not need a national ID to do any of that.

We scrapped ID cards in 2010 for a reason.

Britain does not need a central register to prove age or status.

Yes to privacy first proofs. No to a database state.

[Today in History @TodayinHistory]

Today in 1945, George Orwell published a devastating critique of Communism.

Animal Farm reveals why every communist revolution follows the same tragic pattern: liberation to corruption to oppression.

Here are 10 truths from Animal Farm Orwell warned us never to forget 🧵👇🏼

[Macro Joe @wealthelf]

@TeacherBrian9 @Hedgeye

[Barchart @Barchart]

JUST IN 🚨: Japan 30-Year Bond Yield jumps to all-time high of 3.20% 👀👀

[Macro Joe @wealthelf]

@HedgeyeFins @hedgeyeai

Genuinely fabulous Macro Show today gents. Great doublet act! Cheers!

CC @KeithMcCullough @hedgeye