1. Falling US inflation and rising US fed rates have yet to intersect. They will in 1H'23.
ECONOMICS:USIRYY
FRED:FEDFUNDS
2. US M2 tightening has reached 3%, but alllowing for some growth, it needs to go (linearly) another 6%-9% for a total of 9%-12% down from its previous all-time-high.
ECONOMICS:USM2
3. IXIC is down 35% from its previous all-time...
... not like securities (except in special cases), and definitely not like commodities.
The contemporary debate is about which US regulator gets to go after crypto. Here are some (hopefully) clarifying arguments.
1. All of securities, national currencies, commodities, and crypto currencies are generally regarded as assets.
2. The valuation of an asset, depends...
