# #776: Yields Must Rise, Fed Must Hike with Michael Howell

Page: https://stenobird.com/podcast/tftc-a-bitcoin-podcast-226249/776-yields-must-rise-fed-must-hike-with-michael-howell
Text version: https://stenobird.com/podcast/tftc-a-bitcoin-podcast-226249/776-yields-must-rise-fed-must-hike-with-michael-howell.md
Podcast: [TFTC: A Bitcoin Podcast](https://stenobird.com/podcast/tftc-a-bitcoin-podcast-226249)
Published: 2026-07-30T14:00:28+00:00
Episode link: https://fountain.fm/episode/YTKqgk41qjKyMeWl3xHV
Audio file: https://feeds.fountain.fm/ZwwaDULvAj0yZvJ5kdB9/items/LAv35SWz6SVsXvem1LOF/files/VIDEO---DEFAULT---dacc0672-27fd-4f0c-9ddc-801e086da505.mp4/ORIGINAL.mp3
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JSON: https://stenobird.com/v1/public/podcasts/tftc-a-bitcoin-podcast-226249/episodes/776-yields-must-rise-fed-must-hike-with-michael-howell
Duration seconds: 3857

## Resource

Michael Howell joins TFTC to break down why the Fed is trapped by rising bond yields and surging nominal GDP, forcing a return to rate hikes despite market expectations. We dissect the AI capex bubble, Treasury’s hidden debt monetization via bill issuance, and why global liquidity trends point to a crypto bottom by late 2026. Howell explains why Bitcoin outperforms gold as a monetary inflation hedge, how China’s PBOC liquidity drives gold, and why $40 trillion national debt is just the beginning of a state-led capital war era. CrossBorder Capital on X: https://x.com/crossbordercap GLIndexes: https://www.glindexes.com/ Find the Home Mining Playbook here: https://www.tftc.io/home-mining-energy-playbook STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/yHGkvYxdqT Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Block: Cash App : For a limited time, new customers can get $21 added to their balance. Just use code TFTC10 when you sign up, and send at least $5 to a friend in the first two weeks. Terms apply. Bitcoin services by Block, Inc. See the Bitcoin disclosures at cash.app/legal/podcast. Square : Visit http://square.com/go/**tftc** for up to $200 off eligible Square hardware. Bitkey : Use code TFTC10 for 10% off the new Bitkey. Aven https://www.aven.com/bitcoin CrowdHealth https://www.joincrowdhealth.com/tftc Unchained https://unchained.com/tftc/ Salt of the Earth: https://drinksote.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief…

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