# $35 Trillion in the Red

URL: /show/this-week-in-bitcoin/21/
> I discuss the macro mayhem this week and why it's time for Bitcoin to shine. I also explored the Bitcoin Reserve bill and tried Alby Hub & Cloud.

- Show: [This Week In Bitcoin](/show/this-week-in-bitcoin/)
- Episode: 21
- Date: 2024-07-31
- Hosts: chris
- Duration: 00:58:16
- Audio: https://op3.dev/e/serve.podhome.fm/episode/f01a19c0-6f9d-4aef-9515-08dc15242149/6385806022598810768c63c846-c077-4a86-b2da-05b864b68049v1.mp3





### Episode Links

**Affiliate Links:**

* [Buy Sats on River](https://river.com/signup?r=3CT4V56E)
* [The Bitcoin Company](https://app.thebitcoincompany.com/signup?ref=UNPLUGGED)

**Links:**

* [The Magnificent 7 stocks have now erased a combined $2.6 TRILLION of market cap over the last 20 days.](https://x.com/KobeissiLetter/status/1818386268545245234)
* [All while deficit spending as a percentage of GDP is currently at World War 2 levels](https://x.com/KobeissiLetter/status/1818050246242365893)
* [Bloomberg just confirmed businesses are warning investors they're unable to pass on costs to the consumer anymore.](https://x.com/FinanceLancelot/status/1818595449185419742)
* [A week ago we saw the biggest one-day drop for the S&P 500 since December 2022](https://x.com/charliebilello/status/1818664102241144905)
* [Quarterly Refunding Statement of Assistant Secretary for Financial Markets Josh Frost](https://home.treasury.gov/news/press-releases/jy2512)
* [US Plans to Hold Note, Bond Sales Steady for ‘Several Quarters’](https://www.bnnbloomberg.ca/investing/2024/07/31/us-plans-to-hold-note-bond-sales-steady-for-several-quarters/)
* ['We Did It—Congratulations': David Schweikert Decries US Reaching $35 Trillion In National Debt - YouTube](https://www.youtube.com/watch?v=z7lOcJqZEl4)
* [Hawkish FOMC 'Still Waiting For Greater Confidence' On Disinflation ](https://www.zerohedge.com/markets/fomc-18)
* [Quarterly Refunding: Treasury To Hold Bond, Note Sales Steady For "Several Quarters", Will "Modestly Increase" Bill Offering Size](https://www.zerohedge.com/markets/quarterly-refunding-treasury-hold-bond-note-sales-steady-several-quarter-will-modestly)
* [Trump Embraces the “Bitcoin-Dollar”, Stablecoins to Entrench US Financial Hegemony ](https://bitcoinmagazine.com/politics/trump-embraces-the-bitcoin-dollar-stablecoins-to-entrench-us-financial-hegemony)
* [Lummis-Gillibrand Payment Stablecoin Act ](https://www.congress.gov/bill/118th-congress/senate-bill/4155/text)
* [The Bitcoin-Dollar](https://store.bitcoinmagazine.com/products/the-bitcoin-dollar-book)
* [Tether holds more US Treasuries than Germany, ranks 19th globally ](https://cryptoslate.com/insights/tether-holds-more-us-treasuries-than-germany-ranks-19th-globally/)
* [Lummis Announces Revolutionary Proposal to Supercharge the Dollar, Bolster U.S. Economy » Senator Cynthia Lummis](https://www.lummis.senate.gov/press-releases/lummis-announces-revolutionary-proposal-to-supercharge-the-dollar-bolster-u-s-economy/)
* [Cynthia Lummis Unveils Bitcoin Strategic Reserve Bill - YouTube](https://www.youtube.com/watch?v=_Ou_oxWsCcc)
* [Senator Cynthia Lummis long-term thinking is to prop up the dollar](https://x.com/SenLummis/status/1817302883894722687)
* [Russia Legalizes Crypto Mining and Brings and Experimental Cross-Border Exchange Regime](https://www.coindesk.com/policy/2024/07/30/russia-legalizes-crypto-mining-and-brings-an-experimental-regime)
* [Strike on X: "Our pilot program with @BtcpayServer at @TheBitcoinConf was a success!](https://x.com/strike/status/1818048828013941138)
* [God Bless Bitcoin | Full Movie | Documentary - YouTube](https://www.youtube.com/watch?v=oksraL7wN6Q)
* [BITCOIN Myths ₿usted - YouTube](https://www.youtube.com/watch?v=XfMslVIXwrc)

**Music**

* [Kurtisdrums | 4am 4ever](https://podcastindex.org/podcast/6560977?episode=15572708384)