I found this article schizophrenic. In the first half, Hayes makes the case that fiat and the USD in particular lie dying on its death bed due to relentless debasement. We are aligned here and in my opinion, he should have ended the write up. But this was just the warm up.

In the second half, Hayes lays out a strategy, or a pitch rather, to make lots of fiat arbitraging the ETF and BTC on exchanges. From a tradfi perspective, it's actually compelling. However, the bait and switch left a sour taste.

Arthur Hayes is always worth the time to read and digest.

This essay is so signal dense, no one is commenting. Thank you @soggycakes it gives me a better understanding of how layered things are about to become.

That was extremely well-written. Hope there's more.

Chad needs to keep true to hodl principles and tell Jerome to go back to rigging LIBOR rates for a living.