Global Liquidity Has Peaked: What Happens to Bitcoin? | Michael Howell

“Cycles have no respect for trends.”

Michael Howell is on the show to explain why global liquidity, not Bitcoin’s four-year cycle, is the force driving Bitcoin, gold and global markets.

Michael argues that the liquidity cycle has already peaked and may not bottom until the second half of 2027. He warns that tighter liquidity could create further downside before the next major monetary expansion begins.

We get into the five-to-six-year debt refinancing cycle, why central banks are ultimately forced to keep supplying liquidity, China’s influence on the gold market, the growing debt maturity wall, and why the “great debasement” of Western currencies may still lie ahead.

FOLLOW:
Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny
Michael Howell: https://substack.com/@capitalwars

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CHAPTERS:
00:00:00 – Introduction
00:01:00 – Why Liquidity Moves Markets
00:05:45 – What Economists Get Wrong About Markets
00:16:42 – Bitcoin, Gold and the Everything Bubble
00:25:55 – What Liquidity Is Signalling for Bitcoin
00:38:51 – Why Strong Economic Growth Can Hurt Markets
00:45:36 – The Market Sets Rates, Not the Fed
00:50:24 – How the Next Financial Crisis Begins
00:59:06 – Why Governments Must Inflate the Debt Away

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