August 03, 2025

Hyper Gamble to Wealth (w/ Felix Jauvin)

1 hour 7 minutes

Felix Jauvin, Macro Economist and host of Forward Guidance podcast, joins us to talk about the regime shift from monetary to fiscal dominance, why Bitcoin and risk assets are hitting all-time highs despite high interest rates, the treasury company revolution led by MicroStrategy, and why "hyper gambling your way to wealth" has become a rational strategy in our current economic environment.

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**Notes:**

• US running 7% GDP deficit during full employment

• Bitcoin at ATH despite 5% interest rates

• MicroStrategy's 0% coupon convertible bonds

• Stablecoins can't pass yield to holders

• Treasury companies trading above NAV

• Fiscal dominance replacing monetary policy

Timestamps:

00:00 Start

00:50 Felix background

01:57 TradFi history

05:51 Current market outlook

11:48 10 yr prediction

16:37 Firing the Fed Chairman

21:29 Stablecoins

26:47 Long degens, short society

29:09 Where's my altcoin summer!

32:08 Elipsis Labs

33:09 Hyperliquid

38:21 Place your bets or eat bugs, you choose

44:40 Remember Etherium... what happened to those guys?

48:34 A black hole for capital = NGU

55:27 MSTR failure state

59:22 management teams

1:01:57 Discount to NAV, harbinger of death

1:04:11 Advice for plebs

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👋 The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.

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