US CPI and EU Banks told to Cap Bitcoin Purchases - FED 132

Ansel Lindner -

Hosts: Ansel Lindner and Christian Keroles

Fed Watch is a macro podcast with a clear contrarian thesis of a deflationary breakdown of the financial system leading to bitcoin adoption. We question narratives and schools of thought, and try to form new understanding. Each episode we use current events to question mainstream and bitcoin narratives across the globe, with an emphasis on central banks and currencies.

In this episode, we discuss US CPI for January 2023 and use different commodities and macro prices and indicators to understand and interpret the data. We look at things like the bitcoin price, the dollar, energy and shipping costs. The latter two were the main drivers behind the 2021-2022 CPI rises.



What we found was that there are no price pressures whatsoever in the economy. Nothing that could duplicate the effects from the last couple of years.

We also talk about the updates to the CPI calculations and try to come to a conclusion, whether they pushed CPI higher in January or lower.

Then we get into a new policy statement by the ECB, which threatens European banks that, although not legally binding and not even through the approval process, banks must comply with the new Basel limits on bitcoin in reserves. Of course, this is crazy, and going to lead to tons of problems when bitcoin pumps.

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Charts

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Bitcoin daily chart with important price levels
Bitcoin weekly chart with 50-period moving average
Bitcoin weekly chart with 50-period MA and repeat of 2019
US dollar index DXY daily chart
Broad trade-weighted dollar index
Hong Kong dollar to US dollar
US crude oil WTI
US gasoline futures front month
Euopean Natural Gas futures
US natural gas futures
Baltic Dry Index
Freightos.com 40 FEU
US CPI m/m for January 2023
US CPI y/y for January 2023
US CPI shelter component ONLY m/m for January 2023
Shelter component table
Basel treatment of bitcoin

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