Mine Print Hash
Business & Finance
About
The weekly podcast from Matt Dines and Cameron Otsuka, where our team dissects the week's most important news and their impact on capital markets. From macroeconomic trends and policy decisions to geopolitical events and sector-specific developments, join the team for timely analysis and thoughtful conversations to help you form a narrative for the rapidly evolving capital markets landscape. www.mineprinthash.com
Episodes
- The Trans Adriatic Pipeline: Eurasian Energy Corridor Chess Game
This episode of Mine Print Hash examines the Trans-Adriatic Pipeline as a case study in the geopolitical competition for energy corridors. It highlights how pipelines, trade routes, and diplomatic efforts are part of a larger contest for r…
- Sphere of Influence Skirmishes: Fed Politics, Central Bank Stress, and Resource Competition
Mine Print Hash Week 17 examines the convergence of central bank stress, dollar liquidity, and resource competition. The episode discusses geopolitical events influencing financial markets, central bank policies in Japan and Europe, and th…
- Gold & Iron ⇢ Bitcoin & Silica
This episode uses Fritz Stern's "Gold and Iron" as a historical framework to analyze the current geopolitical landscape, drawing parallels between Bismarck's strategies and the emerging "Pax Silica" order. It discusses the role of finance,…
- Ceasefire and Contagion
The episode discusses the Iran ceasefire within a broader Middle East reordering, tracing historical context from WWI to current events. It analyzes the ceasefire’s significance, cross-asset contagion signals in FX, sovereign debt, and com…
- The Return of Productive American Growth
The episode "The Return of Productive American Growth" on Mine Print Hash discusses signals of accelerating American-led growth, including the Brent/WTI oil price shift and the Artemis II mission. It also examines stress in private-credit…
- Iran Hyperinflation Signals the Next Step
The episode discusses Iran's internal conflict, highlighting the IRGC's dual role as a paramilitary and economic entity. Hyperinflation, with an estimated 115% annualized rate, is presented as a key indicator of the current system's breakd…
- Money Madness: The Central Bank Competition Heats Up
This episode discusses the US and UK's contrasting approaches to cryptocurrency regulation, framing it as a battle for monetary control. The US leans towards accommodation within a defined framework, while the UK aims for greater control,…
- Major Energy Market Reset Underway
The Mine Print Hash episode discusses a major global trade realignment, influenced by changing consumption markets and Middle East energy routes. It highlights the intersection of geopolitics, shipping, and the U.S. dollar's financial domi…
- Final Nail in the Coffin for 20th Century Global Trade?
This episode of Mine Print Hash examines the potential collapse of 20th-century global trade systems, highlighting issues with maritime insurance, trade route chokepoints like the Persian Gulf, and US initiatives to establish new trade inf…
- Iran Realignment is the Key Domino to the New Geopolitical Order
This episode discusses the "monetary transition" reshaping global trade, influencing capital markets towards strategic, wartime-style allocation, and creating uncertainty in EU leadership, particularly concerning Christine Lagarde and the…
- Bretton Woods: China Edition
The episode discusses China's aspiration for RMB/Yuan global reserve currency status, drawing parallels to the Bretton Woods system. It examines the role of gold, potential shifts in China's economic strategy, and geopolitical maneuvering.…
- Liquidity Setup Week
This episode of Mine Print Hash discusses the confirmation of a US industrial bull market based on ISM Manufacturing PMI data. It also covers the upcoming Japanese elections and their potential impact on the yen carry trade, as well as Bit…
- The Bermuda Triangle: Japanese Life Insurers, US Private Credit & Indonesia's Money Center
This episode analyzes Kevin Warsh's Fed nomination, the financial stress faced by Japanese life insurers due to uncompetitive annuity products and a duration mismatch, and Scott Bessent's projection of non-inflationary economic growth.
- Davos 2026: Sovereigntists vs. Globalists and Geopolitical Power Shifts
The episode analyzes the Davos 2026 World Economic Forum, highlighting a shift in tone and Christine Lagarde's call for European independence. It outlines two factions: sovereigntists (Trump, Japan, Taiwan, semiconductor industry) and glob…
- Iran Goes Weimar, DOJ vs. Powell & Arctic Standoff: The Monetary War Escalates
The episode covers the escalation of pressure on the Federal Reserve by the DOJ, the geopolitical significance of Greenland amid rising tensions, and the collapse of the Iranian rial, leading to a 'Weimar-style inflationary outcome'.
- Venezuela, Dow Theory, and Western Hemisphere Integration
This episode discusses the economic integration of Venezuela into the Western Hemisphere, analyses Dow Theory's confirmation of a US goods economy bull market through industrial and transportation stocks, and highlights upcoming events lik…
- BITCOIN AND THE INNOVATOR'S DILEMMA - BUILD WEEKLY ROUNDUP - 2025 WEEK #52
The episode discusses the CFTC's crypto collateral pilot allowing Bitcoin and Ethereum as derivatives collateral, framing it through the innovator's dilemma. It contrasts the US approach with UK and EU strategies and touches on digital sov…
- GLOBAL SOVEREIGN DEBT SURVEY - BUILD WEEKLY ROUNDUP - 2025 WEEK #51
This episode reviews global sovereign bond markets, noting a divergence where US dollar rates are declining while euro and yen rates are rising due to capital migration. It also covers the Trump Media and TAE Technologies merger, raising s…
- TRADE ROUTE CONTROL - BUILD WEEKLY ROUNDUP - 2025 WEEK #50
The episode discusses the Fed's new Reserve Management Purchases program aimed at ending Quantitative Tightening and encouraging credit expansion. It also covers the Lukoil asset sale complications due to sanctions, the US Navy's commandee…
- ECB URGES GOLD RETHINK - BUILD WEEKLY ROUNDUP - 2025 WEEK #49
The ECB urges a rethink on gold as Italy considers its reserves amid late-cycle economic stress. Discussions cover Micron's RAM business shift, AI's role in the economy, and softening US jobs data.
- ESLR TILTS THE SCALE - BUILD WEEKLY ROUNDUP - 2025 WEEK #48
The ESLR reduction favors domestic Treasury funding by US financial institutions over offshore entities. The Genesis Mission aims to direct economic policy and productivity using government data, amidst global AI competition. A Russia-Ukra…
- REIGNING IN THE OFFSHORE DOLLAR - BUILD WEEKLY ROUNDUP - 2025 WEEK #47
This episode covers the significant divestiture of Russian oil assets and its impact on global energy markets, alongside shifts in the offshore dollar system driven by China. It also touches on the European banking system's reliance on the…
- LIKELY SUFFER A COMPLETE LOSS - BUILD WEEKLY ROUNDUP - 2025 WEEK #46
Prominent investors, including Warren Buffett and Ray Dalio, are significantly reducing market exposure, which hosts Matt Dines and Cameron Otsuka interpret as a signal of major market transition. The episode also touches on the resolution…
- NYC SAYS CUO"NO" - BUILD WEEKLY ROUNDUP - 2025 WEEK #45
The episode discusses the NYC mayoral election results, OpenAI's request for government backing which highlights the role of bubbles in technological advancement, and the potential liquidity shift from the Bank of Japan's policy changes.
- CARIBBEAN CHAOS - BUILD WEEKLY ROUNDUP - 2025 WEEK #44
The Federal Reserve has ended quantitative tightening and cut rates, while maintaining a hawkish stance. A meeting between Trump and Xi signals a temporary detente, and US naval activity in the Caribbean is increasing under the cover of Hu…
- CONTROL THE WORLD - BUILD WEEKLY ROUNDUP - 2025 WEEK #43
The episode covers the US Section 301 investigation into China trade, plans to expand offshore drilling for future energy markets, and the Federal Reserve
- DEBASEMENT AWAKENING - BUILD WEEKLY ROUNDUP - 2025 WEEK #42
The debasement trade is occurring as public awareness peaks post-event, with China facing food security risks due to US-Argentina alignment impacting soybean and cooking oil supplies. Argentina's upcoming election will determine its strate…
- EQUITY FINANCING BUBBLE? - BUILD WEEKLY ROUNDUP - 2025 WEEK #41
This episode discusses the emerging equity financing bubble, exemplified by the OpenAI-AMD deal, and draws parallels to historical speculative bubbles. It also covers US economic initiatives with Argentina and Japan, and the unraveling of…
- WINDOW OF HEIGHTENED RISK - BUILD WEEKLY ROUNDUP - 2025 WEEK #40
The latest Build Weekly Roundup discusses heightened geopolitical and market risks stemming from a US government shutdown, drawing parallels to WWI. Key points include the Treasury market as a battleground, regional power positioning, and…
- GOVERNMENT SHUTDOWN - BUILD WEEKLY ROUNDUP - 2025 WEEK #39
The episode discusses the looming government shutdown, focusing on the Democratic party's effort to preserve ACA funding and the Republican party's push for a Fannie Mae IPO to lower mortgage rates. It highlights the reversal of roles in t…
- DOT SLOP - BUILD WEEKLY ROUNDUP - 2025 WEEK #38
This episode of Mine Print Hash discusses the political landscape of the Federal Reserve, noting its historical politicization and recent shifts in FOMC majority. It covers expectations for 2025 rate cuts, President Trump's influence on Fe…
- CLIMBING THE ESCALATORY LADDER - BUILD WEEKLY ROUNDUP - 2025 WEEK #37
This episode of Mine Print Hash discusses the ongoing cycle of violence and its market implications. It covers record-low dealer participation in Treasury auctions, signaling strong demand. The hosts analyze S&P 500 leadership, noting a do…
- MONEY, CREDIT AND ASSET PRICES - BUILD WEEKLY ROUNDUP - 2025 WEEK #36
The Build Weekly Roundup discusses economic slowdown indicated by job growth and deposit data, alongside shifts in banking strategies towards Treasury securities. It also covers global energy market changes driven by a Russia-China deal an…
- PPI BLOWOUT - BUILD WEEKLY ROUNDUP - 2025 WEEK #33
This episode discusses the shift in US-China semiconductor export policy towards a revenue-sharing model, potentially indicating a move towards cooperation. It also examines the persistent oil glut as a sign of economic weakness and the im…
- RATE SHORTCUT CONTRACTORS, INC. - BUILD WEEKLY ROUNDUP - 2025 WEEK #30
This episode discusses the broken economic rules, particularly the divergence of copper prices from oil, and analyzes political influence on potential rate cuts. It also covers the German Bund vs US Treasury spread, the dollar's current su…
- MONETARY POLICY DISARRAY - BUILD WEEKLY ROUNDUP - 2025 WEEK #29
This episode of Mine Print Hash discusses the reversal of dollar weakness, highlighting technical indicators and historical context. It also covers the potential for monetary policy disorder stemming from political interference with the Fe…
- METALS CONSTRAINING ECONOMIC GROWTH? - BUILD WEEKLY ROUNDUP - 2025 WEEK #28
This episode discusses economic slowdown indicated by falling GDP growth forecasts and negative equipment investment. It highlights the significant contribution of net exports to current GDP, driven by tariffs, and the DoD's $400M investme…
- WEAK DOLLAR IS A GOLD-GRAB - BUILD WEEKLY ROUNDUP - 2025 WEEK # 27
This episode discusses the US dollar's significant decline in 2025, framing it as a strategic capital war maneuver rather than weakness. The US is reportedly forcing gold imports from Europe by maintaining high interest rates, creating a s…
- REBALANCE OF POWER - BUILD WEEKLY ROUNDUP - 2025 WEEK #26
This episode of Mine Print Hash covers the rebalancing of power, focusing on Iran's oil and gas sector, US interest rates, and the performance of Fannie Mae and Freddie Mac.
- BATTLE OF FORDOW - BUILD WEEKLY ROUNDUP - 2025 WEEK #25
This episode of Mine Print Hash covers the Iran-Israel conflict and the Supplementary Leverage Ratio (SLR), featuring an explanation of global banking and Basel III. The discussion includes insights from @LeveredUSTs.
- LAST CHANCE TO HIT THE EXIT? - BUILD WEEKLY ROUNDUP - 2025 WEEK #24
Matt Dines and Cameron Otsuka discuss the One Big Beautiful Bill Act, US-China trade talks, and unrest in the US.
- JPM BENDS THE KNEE TO BITCOIN - BUILD WEEKLY ROUNDUP - 2025 WEEK #23
The Mine Print Hash Weekly Roundup for 2025, Week 23, covers J.P. Morgan's interaction with Bitcoin and May Nonfarm Payrolls. Further content and bonus episodes are available at www.mineprinthash.com.
- PLOT DEVELOPMENT WEEK - BUILD WEEKLY ROUNDUP - 2025 WEEK #22
This episode of Mine Print Hash covers US trade accounts, bank balance sheets, and duration setup. Technical difficulties with the host's microphone were encountered and edited around.
- A PIVOTAL WEEK - BUILD WEEKLY ROUNDUP - 2025 WEEK #21
This public episode of Mine Print Hash, titled 'A PIVOTAL WEEK - BUILD WEEKLY ROUNDUP - 2025 WEEK #21', covers the long bond breaking its channel downside and the GENIUS Act Ukraine impasse.
- NOT YOUR FATHER'S RECESSION - BUILD WEEKLY ROUNDUP - 2025 WEEK #20
This episode of Mine Print Hash provides a weekly roundup for 2025 week 20, covering topics including a Geneva-brokered truce and USD credit expansion. It also features a discussion with Matt Dines hosted on X Spaces.
- HONG KONG DOLLAR SQUEEZE - BUILD WEEKLY ROUNDUP - 2025 WEEK #19
This episode of Mine Print Hash covers the Hong Kong dollar squeeze and the US dollar gaining value. It also touches on the question of why silver is not performing as expected.
- THE ART OF THE (UKRAINE) DEAL - BUILD WEEKLY ROUNDUP - 2025 WEEK #18
This episode of Mine Print Hash covers the Ukraine minerals deal, Bitcoin custody, and security in meatspace, as part of the 2025 Week 18 Build Weekly Roundup.
- BUILD WEEKLY ROUNDUP - 2025 WEEK #17
This episode of BUILD WEEKLY ROUNDUP discusses credit markets settling and Bitcoin's breakout, alongside retail interest in gold.
- BNPL FOMO - BUILD WEEKLY ROUNDUP - 2025 WEEK #16
This public episode of Mine Print Hash covers BNPL FOMO as part of the Build Weekly Roundup for 2025, Week 16. More content and bonus episodes are available at www.mineprinthash.com.
- BUILD WEEKLY ROUNDUP - 2025 WEEK #15
The BUILD WEEKLY ROUNDUP for 2025, Week 15, discusses the significant impact of tariffs. This episode is publicly available.