The Fed Is Trapped. Bitcoin Won’t Stay Here.

<p>The Treasury Secretary said "whatever it takes" for the yen. The Fed has a facility that can hand Japan $60 billion with a keystroke, and Bessent says it might not be enough. Larry Lepard walks through what FIMA is, why gold moved 7% in three days, why gold stocks had their biggest week in 18 years, and why he thinks Wall Street still doesn't understand that they can never stop printing. </p>

<p>Also: the 10 year red line, yield curve control, Silicon Valley Bank as a preview of a phase change, why the ETF holders aren't the paper hands everyone expected, and Larry's number for the next high. </p>

<p>Bob Burnett and George Bodine ask the questions. Gary Leland is on vacation. He will be back in the future. </p>

<p>00:00 Cold open\ </p>

<p>00:42 Titles\ </p>

<p>00:47 Gary is on vacation\ </p>

<p>01:05 Bessent steps in for the yen\ </p>

<p>02:13 FIMA, the Fed's $60B printer for Japan\ </p>

<p>03:25 We're going to need a bigger boat\ </p>

<p>03:32 Gold moves 7% in three days\ </p>

<p>04:46 Jackson Hole and the rate hike odds collapse\ </p>

<p>05:59 The run it hot strategy\ </p>