Pasting some of my replies to this from twitter FWIW:
That’s just not correct, unless I’m misunderstanding— if you short rates, and next day the market decides you are right, then real rates spike and you make money. Simple as that So I don’t follow your claim ¯\_(ツ)_/¯
Sovereign debt markets are the some of the most well-functioning financial markets ever created by man—this is literal orders of magnitude off. This is just not tether
I think the claim is that with fast takeoff, the market will either never decide that you are right (we die before the market realizes), or will decide you are right and you get rich but have only a short time to live, so there’s no value to being rich.
Pasting some of my replies to this from twitter FWIW:
That’s just not correct, unless I’m misunderstanding—
if you short rates, and next day the market decides you are right, then real rates spike and you make money. Simple as that
So I don’t follow your claim ¯\_(ツ)_/¯
Sovereign debt markets are the some of the most well-functioning financial markets ever created by man—this is literal orders of magnitude off. This is just not tether
also
I think the claim is that with fast takeoff, the market will either never decide that you are right (we die before the market realizes), or will decide you are right and you get rich but have only a short time to live, so there’s no value to being rich.