What Bessent Is REALLY Doing With Treasury Buybacks | Michael Howell

Michael Howell, founder of CrossBorder Capital and author of Capital Wars, joins Risk Takers to explain the Bessent Treasury bond buyback, why it signals money printing through the US banking system, and why Treasury yields still have to rise to catch up with the fastest nominal GDP growth since the early 1980s. Howell breaks down Fed Chair Kevin Warsh's ample reserve framework, why the Treasury's $14 billion buyback is not yield curve control, and how "Treasury QE" monetizes the deficit by getting banks to buy short-dated government debt instead of the Fed doing it directly. He explains why real US inflation is running closer to 10% than the official 3% CPI, why the 10-year Treasury yield just hit a 19-year high, and why gold's low may already be in on Chinese PBOC liquidity while Bitcoin — far more sensitive to global liquidity than to China alone — may not have bottomed yet. Topics: Treasury buybacks, Treasury QE, the Bessent put, bank balance sheet monetization, the Treasury General Account, term premium, nominal GDP vs bond yields, the BTFP comparison, gold vs Bitcoin as inflation hedges, and why the US dollar and other major currencies are all being devalued together. ___________________________________________ 00:00 Intro 03:03 Kevin Warsh Is Letting Bond Yields Do The Fed's Job 05:26 The Buyback Is $14 Billion, Not A Rescue 07:35 The Real Signal Is Money Printing 11:02 How Treasury QE Actually Works 18:22 Bond Yields Have To Catch Up To Growth 23:29 Real Inflation Is Nearer Ten Percent 31:51 Gold's Low Is In. Bitcoin's Might Not Be ___________________________________________ 🆇 𝗠𝗜𝗖𝗛𝗔𝗘𝗟 𝗛𝗢𝗪𝗘𝗟𝗟 𝗢𝗡 𝗫 Follow: https://x.com/crossbordercap 📰 𝗖𝗔𝗣𝗜𝗧𝗔𝗟 𝗪𝗔𝗥𝗦 𝗢𝗡 𝗦𝗨𝗕𝗦𝗧𝗔𝗖𝗞 Subscribe: https://capitalwars.substack.com 🌎 𝗖𝗥𝗢𝗦𝗦𝗕𝗢𝗥𝗗𝗘𝗥 𝗖𝗔𝗣𝗜𝗧𝗔𝗟 Visit website: https://crossbordercapital.com #MichaelHowell #TreasuryQE #KevinWarsh #FederalReserve #Gold #Bitcoin #Inflation #BondYields ___________________________________________ 📷 𝗔𝗟𝗘𝗦𝗦𝗔𝗡𝗗𝗥𝗢 𝗢𝗡 𝗜𝗡𝗦𝗧𝗔𝗚𝗥𝗔𝗠 Follow:   / alessandrogibilaro   ___________________________________________ 𝗙𝗘𝗔𝗧𝗨𝗥𝗘𝗗 𝗢𝗡 𝗧𝗛𝗜𝗦 𝗦𝗛𝗢𝗪 ⬇⬇⬇⬇⬇⬇ 📱 𝗘𝗙𝗔𝗡𝗜 — 𝗧𝗵𝗲 𝗠𝗼𝘀𝘁 𝗦𝗲𝗰𝘂𝗿𝗲 𝗠𝗼𝗯𝗶𝗹𝗲 𝗦𝗲𝗿𝘃𝗶𝗰𝗲! 🚨 Use the link below and promo code ALESSANDRO for an exclusive $99 discount! 👉 𝗚𝗲𝘁 𝗼𝗳𝗳𝗲𝗿 𝗻𝗼𝘄: https://www.efani.com/alessandro 🛡️ Best in class protection with 11-layers of proprietary authentication 🛡️ Backed with $5M Insurance Coverage ________ 🟦 𝗩𝗔𝗥𝗜𝗔𝗧𝗜𝗢𝗡𝗔𝗟 𝗢𝗠𝗡𝗜 - 𝗧𝗵𝗲 𝗠𝗼𝘀𝘁 𝗥𝗲𝘄𝗮𝗿𝗱𝗶𝗻𝗴 𝗣𝗹𝗮𝗰𝗲 𝘁𝗼 𝗧𝗿𝗮𝗱𝗲! 🔥 Trade with Zero Fees + Get a 15% Points Boost! Follow these steps: 1️⃣ Connect your wallet: https://omni.variational.io 2️⃣ Once your wallet is connected, use code OMNIRISK 🚨 Note: If you don’t use the code above, you won’t get the 15% Points Boost! 📊 𝗣𝗼𝗶𝗻𝘁𝘀 𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗼𝗿: https://variational-ev.vercel.app/ ___________________________________________ 👁️‍🗨️ 𝗥𝗶𝘀𝗸 𝗧𝗮𝗸𝗲𝗿𝘀 𝗮𝗯𝗶𝗱𝗲 𝗯𝘆 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗰𝗼𝗱𝗲 𝗼𝗳 𝗰𝗼𝗻𝗱𝘂𝗰𝘁: https://www.cryptobanter.com/our-ethics/ We take our code of ethics very seriously and have engaged @zachxbt ( / zachxbt ) to monitor our progress. If you feel we’re not living up to it and have hard evidence please mail ZachXBT directly at reportcb@protonmail.com ⚠️ 𝗕𝗘𝗪𝗔𝗥𝗘 𝗢𝗙 𝗦𝗖𝗔𝗠𝗠𝗘𝗥𝗦 𝗜𝗡 𝗢𝗨𝗥 𝗖𝗢𝗠𝗠𝗘𝗡𝗧𝗦 𝗔𝗡𝗗 𝗖𝗢𝗠𝗠𝗨𝗡𝗜𝗧𝗬 𝗖𝗛𝗔𝗡𝗡𝗘𝗟𝗦 ___________________________________________ 📝 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: Risk Takers is a social podcast for entertainment purposes only. All opinions expressed by the hosts, guests, and callers should not be construed as financial advice. Views expressed by guests and hosts do not reflect the views of the station. Listeners are encouraged to do their own research. 𝗜𝗠𝗣𝗢𝗥𝗧𝗔𝗡𝗧 𝗡𝗢𝗧𝗜𝗖𝗘 – 𝗡𝗢𝗧 𝗙𝗢𝗥 𝗨𝗞 𝗥𝗘𝗦𝗜𝗗𝗘𝗡𝗧𝗦 This content is directed only at persons outside the United Kingdom. It is not directed at and must not be acted upon by persons in the United Kingdom. UK viewers must not use this content to inform any investment decisions. 𝗚𝗘𝗡𝗘𝗥𝗔𝗟 𝗥𝗜𝗦𝗞 𝗡𝗢𝗧𝗜𝗖𝗘 Crypto assets are volatile and high-risk. You could lose all your money. This content is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell, or hold any crypto asset. You should conduct your own research and consult with a financial adviser before making any investment decisions. ___________________________________________ 🎬 𝗠𝗼𝗿𝗲 𝗩𝗶𝗱𝗲𝗼𝘀 𝘄𝗶𝘁𝗵 𝗥𝗶𝘀𝗸 𝗧𝗮𝗸𝗲𝗿𝘀:    • Crypto Millionaire's Interviews: From Zero...