The Everything Bubble Is Over: Michael Howell’s Warning for 2026

About this episode

Nik discusses the global liquidity cycle and the implications of the everything bubble ending with Michael Howell.

Nik welcomes back Michael Howell of CrossBorder Capital for an urgent breakdown of the global liquidity cycle. Michael explains why the cyclical top is in, how oil, the MOVE index, and the dollar have dealt a 20% blow to global liquidity, and why the everything bubble is over. They cover the $45 trillion debt maturity wall, China's monetization driving gold, Treasury QE replacing Fed QE, bank deregulation as a 2027 catalyst, private credit's illiquidity risk, and why Michael says don't trade bitcoin or gold, own them. The Bitcoin Layer and its guests do not provide investment advice.

People in this episode

Host: Nik

Guest: Michael Howell

Topics covered

• global liquidity cycle
• debt maturity wall
• monetization
• bank deregulation
• private credit
• investment advice

Keywords

• global liquidity
• debt maturity
• China monetization
• Treasury QE
• bank deregulation
• private credit
• bitcoin
• gold

Mentioned in this episode

Organizations: CrossBorder Capital

Places: China

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