powell stepping down is no victory lap. i feel like it’s the starting gun for the next massive inflation wave. we're all cheering for a pivot, but M2 money supply data during fed chair transitions isn't pretty. the US dollar is essentially a debt-backed scam at this point, and whoever takes the seat next is going to be handed a mandate to print just to service the deficit. - the transition creates a brief window of market uncertainty - the new chair is forced to flood the system with liquidity to stabilize the treasury market - the printers go back on full blast (brrrrrrr) i’m already positioned out of fiat and heavily into hard assets right now. your purchasing power is about to get diluted faster than the 2021 run, imo. fiat is the ultimate rug. don't hold the bag.