While the US manages its own hot CPI print, Europe is in a much tougher situation. @LeveredUSTs explains the US' CPI print as a big shock with a negative second derivative: US households are cutting discretionary demand, while ECB hikes into weaker growth and a pressured euro.

The tokenized asset debate is a tug-of-war for control of the monetary layer beneath them. @LeveredUSTs argues tokenized assets are a sovereignty question: as collateral moves on-chain, nations want to control the underlying infrastructure and settlement rails that support them.

The dollar you know is dying. Most are positioned for a system that no longer exists. New TLT with @LeveredUSTs The Dollar Reset Runs Through Bitcoin -2024 as a monetary fork -Why this isn't 2008-2020 redux -Saylor's BTC sale: troll, not signal -Where BTC fits in the endgame

Europe is hiking into weak growth while the T-bill points to the real pressure point: dollar scarcity outside the U.S. @LeveredUSTs argues liquidity is pulling into the US, forcing the ECB to defend yields while Bessent continues toward stablecoin rails at "deliberate speed".

CFTC approval of Kalshi BTC perps matters because it signals a bigger shift in market plumbing: USDC collateral, prediction-market escrow, and a Bitcoin Reserve moving at “deliberate speed” pull market liquidity onto U.S.-controlled dollar rails.

Brand new podcast out with @LeveredUSTs about the Secret War for Control over the Eurodollar! This was a banger episode so I made it free for all substack subscribers! Check it out here: substackfwd.xyz/?url=dollare…

Europe is being pushed towards a stance of hawkish weakness. @LeveredUSTs explains the situation the ECB finds itself in and how the @CFTC's @Kalshi ruling is an important step in the US' push towards dollar stablecoin rails.

Money markets are showing the ships going into harbor. Memorial Day showed offshore appetite for the US Treasuries, which @LeveredUSTs reads as a Eurodollar stress signal against a backdrop of a disinflationary European economy and higher energy costs.

Japan is playing a critical role in the new dollar architecture: @LeveredUSTs explains how Japan's onboarding onto dollar stablecoin rails could give the country access to direct Treasury claims for commodity settlement, reducing their dependence upon Eurodollar and SWIFT rails.

Don't get caught holding the last Eurodollar in a stablecoin world. Read the first article by @LeveredUSTs on our Substack, putting the Mine Print Hash thesis into written form.

The Hormuz energy shock has crossed from commodity markets into European sovereign debt. @LeveredUSTs explains how the shock is pushing input costs higher, growth lower, and bond risk wider, with the ECB's own stability review pointing to the danger of abrupt repricing.

Japan may be a tipping point proving dollar stablecoins have crossed from crypto idea to global monetary plumbing. @LeveredUSTs identifies Japan's importance as a financial and resource gateway for the West, while China builds a competing track via Hong Kong gold clearing.

Europe's energy shock is becoming sovereign-debt stress as late-cycle disinflation leaves offshore money centers exposed. @LeveredUSTs argues Japan's onboarding onto T-bill-backed stablecoins may be a tipping point: a shortcut up the monetary stack, past the Eurodollar system.

What does Bessent mean when he says the plan is to, "monetize the asset side of the U.S. balance sheet?" @LeveredUSTs maps Bessent’s progress across energy, stablecoins, Bitcoin reserves, Fed rails, and bank regulation towards building a new, asset-backed dollar framework.

Beyond GPUs, @LeveredUSTs and @CameronOtsuka walk through the AI buildout resource constraints—from parts, to labor, to capital—and why compute futures could turn compute into a priced, hedgeable commodity that unlocks the next wave of capital.

Why is an evolution to the dollar system necessary and what does it take to get there? @LeveredUSTs tracks the implementation progress across executive orders, Congressional acts, Bitcoin reserves, the Fed, and money markets.

Since last Wednesday, money markets' cash has been going to ground. Offers on 4w bill yield are getting lifted with 5 straight down candles on the daily. SOFR is now clearing at lowest yields of this cutting cycle & is only 1 bp on top of RRP lower bound. Counterparties have started showing up at the RRP facility to park $24B cash at FRBNY. Everyone in the club is getting ready for the DJ to cut the music and turn on the lights.

Europe's response to dollar stablecoins is taking shape: digital IDs, Eurostablecoins, and permissioned rails. @LeveredUSTs views it as a defensive move against an open dollar architecture, with UK gilts and weak Eurozone GDP showing where sovereign funding stress is biting.