Macro.
Public Key
npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l Profile Code
nprofile1qqst0xtvrqlqxm0j0qpfgkuqh0wgkzl4judkvgdgd0e4d8pnyytlqlgpr9mhxue69uhkkmn0wd68ytnwv46hgunfdejjucm0d5q3samnwvaz7tmswfjk66t4d5h8qunfd4skctnwv46q5m00eg
Show more details
Published at
2026-03-27T03:26:47+01:00 Event JSON
{
"id": "0cd4b77207ec099cf458fe13ed989f1d10a1e6ead8d8bac193fa5bbe270cc632" ,
"pubkey": "b7996c183e036df27802945b80bbdc8b0bf5971b6621a86bf3569c332117f07d" ,
"created_at": 1774578407 ,
"kind": 0 ,
"tags": [],
"content": "{\"website\":\"https:\\/\\/jeffross191961.substack.com\",\"banner\":\"https:\\/\\/blossom.primal.net\\/5468dffbdcf05e0cec465d5ca051636410680b944d817f1795091e8d3d5e4fda.png\",\"name\":\"DrJeff\",\"picture\":\"https:\\/\\/blossom.primal.net\\/58ce9a6d9092d3e0ff9ff3ecf15ced39d6a42cd1d519635543be6fd9798b7b01.jpg\",\"about\":\"Macro. \\nCharts. \\nGeopolitics. \\nRandom musings. \\nSometimes funny. \\nOccasional doom and gloom. \\nFund management insights. \\nNever individual investment advice. \\n** Nothing to do with Vailshire Capital Management, LLC or Vailshire Partners, LP hedge fund. **\",\"nip05\":\"[email protected] \",\"lud06\":\"\",\"display_name\":\"Dr. Jeff\",\"lud16\":\"[email protected] \"}" ,
"sig": "7e9bdb0818c19c9d05e300334b9d2a6dad838ad27c11f7215a24b1c163dc3ccd5397ee4e20caf86da66edd13aaffea5c4d51f7dd6734ce70db9abeb8fafaaa7f"
}
Last Notes npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Just dropped! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff We are all military analysts now. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Check out Charlie Garcia’s Substack. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Unfortunately no npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Because that’s what they hope for. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff lol… so many people and market participants reading/watching mainstream media think the war in the Middle East is basically over. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🍻 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Issue #4 of Dr. Jeff's Macro Chartbook is live! 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff It’s been awhile. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Bonus post just dropped for subscribers of Dr. Jeff's Macro Chartbook 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff “Historically-speaking, when proof of physical work—manufacturing—suffers, so too does the world’s proof of work energy money: Bitcoin.” npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Bonus Issue 2.5 just dropped... free for everyone! 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I had the same experience with pulmonary embolism. 😳 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Agreed. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Agreed. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I imagine that even the world’s most powerful military can get spread too thin. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff So… in the coming days/weeks: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Here's the market cap of both gold and bitcoin. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff What I'm watching… 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff It’s early days, but… npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff The script? npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff "80+ years of US hegemony hang in a balance. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff For those curious about the person behind "Dr. Jeff's Macro Chartbook"... I just updated my About page on Substack. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff “If the pattern holds — and there is no guarantee it will — global M2 may be approaching a cyclical peak sometime in the coming weeks or months. Or maybe it just did in February 2026. Bitcoin, it appears, already knew.” 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I’d say since the GFC, then accelerating in 2014. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Early WW3 vibes. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff After my first two issues on Substack this week, "Dr. Jeff's Macro Chartbook" has already cracked the top 10 Rising Bestsellers in Finance! 🎉 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Amazing! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Thanks bro. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Plebs + proof of real work for the win. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Because I like you, here's a free glimpse of an amazing chart that I'm regularly watching... 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Even after a suboptimal 2025, we are still here. 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Issue #2 of Dr. Jeff's Macro Chartbook is live! 🔥 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Issue #2 of the brand-new "Dr. Jeff's Macro Chartbook" drops this Thursday, March 12th. 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I didn’t know that was an option. Thanks! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff A systematic process is ♾️ better than a prediction. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Haha... thanks Dan! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Just as ISM Manufacturing PMI is increasing (a positive), global liquidity rate of change is slowing a bit (a negative). I'll try to touch on the nuances (and their implications) more in the newsletter. -- We are living in interesting times... npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I'm doing a new thing. On Substack. 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Yep. Still holds true. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Have you traded your savings account today, degen? npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I recently received this good news from BarclayHedge about my little friends and family hedge fund: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I don’t know about you , but I think it’s pretty wild to watch the post-WW2 geopolitical and financial world order fragment and reorganize in real time. 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Ozempic is the new Prozac. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff John 14:27 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Based on the amount of comments (primarily on YouTube) that I am a "moron" who should "stay in [my] lane" and not discuss geopolitics because I am "way out of [my] depth"... npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Another quarterly Mastermind banger with @nprofile…5gu2 , @nprofile…hs8c , and @nprofile…9pq8 ⚡ npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff How different forms of "money" actually work over time: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Silver looking the most technically overbought at the moment. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff A fantastic and highly troubling article by Craig Tindale. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Reality is starting to bite. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff “The marginal cost of intelligence is trending toward zero.“ npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Don’t fight the Fed(eral government), as they continue picking winners and losers. 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Suspected US foreign policy "interests" for possible/probable intervention (in no particular order) by 2028: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff lol… if this is the Big League, I don’t want to play npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I don’t come here as often these days, but it’s sad to see the rapidly rising large number of imposter accounts here on nostr. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Same. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Definitely. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff 🤝 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff In case you haven't noticed yet, Central and South America are the new Middle East for US diplomacy, economics, and military action. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff To be clear, I mean to say: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I think that, at the moment, liquidity is tight and it is being channeled toward specific sectors of the economy. If the scope broadens to include Bitcoin in the coming quarters and/or liquidity in general greatly expands, then this should be reflected in the price of bitcoin. -- I think tariffs are a red herring, with minimal true economic impact on most sectors. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff My 2026 bitcoin price guesses (in USD terms): npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff For investors: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff We are all geopolitical analysts now. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Merry Christmas! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Thanks! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Bitcoin and AI are both competing for the same, limited electrons in the Western Hemisphere. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Status update: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I’ve just been informed that some people still read the newspaper. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff More and more people are beginning to understand that Bitcoin is universal energy money. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff In light of these guesses… npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Some guesses for 2026: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Don't miss the significance of the secular shift that began (again) in January 2022. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Originally posted in January 2025, I reposted it because many people who were excitedly using leverage during the bull market were starting to get liquidated during the current bear market. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Rather than peaking in 4Q 2025--as I had previously anticipated--important macro assets are actually showing signs of major cyclical bottoms at current levels. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff You may think that you own your dollars or other fiat assets, but the government actually owns your purchasing power. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Applying logic to exponential growth over a long enough timeframe will make you look insane by the vast majority of people. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff “Bitcoin is [still] screaming for more liquidity.” npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff An epic take 😂 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff What I'm watching... 👀 npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Despite the end of the shutdown, the Liquidity Blob remains stuck in the government’s coffers. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Once (if) the government shutdown ends, Fed Net Liquidity will become relevant and sexy again. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Yes. ⚡ npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff A great read. Thanks for sharing, Brad! npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Aggressive central planning by the current administration. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff The two most important (and generally overlooked) factors in determining (guessing) bitcoin's fiat price action over the coming quarters are: npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I don’t know about THE most important signal, but it is a very important (and under-watched) signal. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff I historically agree... as both a Christian and a staunch free market capitalist. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Good question. npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l DrJeff Probably the same entities that determine clean water, electricity, physical infrastructure, etc.
