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Transcript
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SPEAKER 1
G'day, folks. Welcome back to another edition of the Rough Consensus podcast. Today, I had a great conversation with Joe Calasari, and we covered so many topics from the regulatory and legal side of the equation, which is really his specialization, all the way through to how he thinks about the macro environment. And really, we are students of markets,
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trying to take price signals, what's going on with interest rates, trying to understand whether it's a recession or not, how to really decipher what's going on with interest rates. all of the data, all of the components. And we close out with a really, really thoughtful discussion on what makes a store of value. How does Bitcoin,
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how does gold and how does stock market indices all play into this role of being some kind of store of value in a world of debasement? So this was a fantastic conversation. We had lots of great back and forth and I think you're really going to enjoy it.

Rough Consensus Podcast with Joe Carlasare (Ep #3)

How stable is the denominator, and what is a store of value? Today, I welcome Joe Carlasare on the podcast to discuss how we think about these questions, and so much more.

G’day Folks,

Today, I had a fantastic conversation with Joe Carlasare, who carries tremendous insight into how the regulatory, legal, and macro dynamics affect global markets, and Bitcoin. We cover so much ground in this conversation, ranging from the big risk overheads in the legal world, to the core drivers of markets today, Turtle Theories, and whether 'cycles' still matter.

We dive into a wide range of topics including:

  • How the regulatory and legal landscape has changed since FTX.

  • The role of higher rates, harder money, and fiscal dominance.

  • Turtle theories and Chopsolidation.

  • The psychology of HODLer sell-side pressure.

  • How spot and futures markets are intertwined.

  • Asking the question, ‘what is a store of value’?

I really hope you enjoy this conversation as much as I did, and if so, please consider sharing the episode and giving us a rating on Spotify/Apple Podcasts, as it helps more folks find our work. Be sure to give Joe a follow!

Other ways to listen:

Spotify (available ~1 hr after article is published on Substack)

Apple Podcasts (available ~1 hour after article is published on Substack)

YouTube:


Disclaimer: This podcast is general in nature, and is for informational, and entertainment purposes only, and it shall not be relied upon for any investment or financial decisions.