Welcome to The Bitcoin Layer, where we bring you research, analysis, and education for all things bitcoin and macro. In this episode, Joe sits down with Michael Howell, Founder and CEO of CrossBorder Capital and the world's foremost authority on liquidity. Michael delivers an excellent discussion on how the liquidity cycle shifted in October of last year. He discusses the gilt scare in England as a wake-up call for global central banks to play a more active role in their sovereign bond markets, how maintaining stability in the Treasury market is of paramount importance, why bond volatility will be more...