Why was Kevin Warsh nominated? The most prominent label is 'the firefighter of the 2008 financial crisis.' At the darkest moment of Lehman’s collapse and Wall Street's paralysis, he was the only link between the Federal Reserve and the market.
Bitcoin BTC has fallen below 80,000, Ethereum ETH has dropped to 2,400, and gold XAG and silver XAU are still experiencing aftershocks. This all-around flash crash is not just a plunge in K-line, but a 'stress test at the limit' for the global monetary order on the eve of the leadership change.
What is the market afraid of?
One fact that everyone overlooks is that before and after the change of the Federal Reserve Chair, the market volatility often peaks. The new chair needs to establish policy credibility through tough measures, which means the old illusion of easing must be shattered.
Enabling a 'hard man' who has dealt with systematic collapses is in itself a signal. It indicates that the decision-makers foresee the impending storm. Walsh's experience is not to continue with easy money, but to have the ability for surgical precision in dismantling when the 'Great Reset' occurs.
When the liquidity black hole sweeps the globe, all 'pseudo-assets' will reveal their true form.
What is valuable has never been currency, but scarcity. However, under the new chairman's expectation of a 'hard landing', only the true king of scarcity can stand firm on the ruins of the old order.
Don't just look at how much has fallen, see who is at the helm, and understand the direction of the storm.