Forward Guidance

Global markets face a fragile moment where a geopolitical shock could collide with already restrictive monetary policy, creating a setup few investors are prepared for.

Felix and Quinn sit down with Joseph Wang live at DAS New York to unpack today's chaotic macro landscape, focusing on how energy markets and central bank constraints are increasingly intertwined.

We explore oil supply risks, the Fed’s policy trap, liquidity constraints, the ongoing banking regime shift, and how these forces could reshape risk assets and global growth. Enjoy!

TIMESTAMPS:

00:00 Intro

03:28 Middle East Drives Macro

06:21 Risk Assets Face A Lid

09:15 Will The Fed Look Through?

12:02 Why Liquidity Stays Tight

15:14 Dollar Up Gold Down

19:16 The Great Rebalancing

22:28 Ads (Blockworks IR, Arkham)

27:18 Where Liquidity Could Come From

31:04 Can They Steer It Back?

35:20 What Signals Actually Matter

FOLLOW THE SHOW

› Joseph - https://x.com/josephwang

› Quinn – https://x.com/qthomp

› Felix – https://x.com/fejau_inc

› Forward Guidance – https://x.com/ForwardGuidance

› Blockworks – https://x.com/Blockworks

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

SPONSORS

› ARKHAM

Arkham is a crypto exchange and blockchain analytics platform that allows traders and investors to look inside the wallets of the best traders, largest funds, and most influential players in crypto — and act on that information.

Sign up to Arkham: https://auth.arkm.com/register?ref=blockworks

Eligibility varies by jurisdiction. Users residing in certain jurisdictions will be excluded from onboarding.

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

AI is forcing a rethinking of everything from energy and geopolitics to markets and human purpose while raising a deeper question: are we entering an era of abundance or losing control of the systems we’re building?

Raoul Pal joins us live from DAS to break down how the AI arms race, liquidity dynamics, and crypto infrastructure are converging into a single macro narrative shaping the next cycle.

We explore AI-driven abundance, crypto as agent infrastructure, oil and liquidity risks, tokenized data markets, and what human value looks like in an AI-dominated world. Enjoy!

TIMESTAMPS:

00:00 Intro

02:12 Oil Shock Meets Macro

05:22 AI Needs More Energy

07:19 The US China Race

08:53 Why Recessions Cannot Happen

12:03 Banks Will Provide Liquidity

15:24 AI Adoption Is Mispriced

18:41 Ads (Blockworks IR, Arkham)

20:15 Superintelligence Changes Everything

24:11 What Is Human Value

30:22 AI Agents Need Crypto

37:39 AI Meets Longevity

FOLLOW GUEST

› Raoul – https://x.com/RaoulGMI

FOLLOW THE SHOW

› Felix – https://x.com/fejau_inc

› Forward Guidance – https://x.com/ForwardGuidance

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

SPONSORS

› ARKHAM

Arkham is a crypto exchange and blockchain analytics platform that lets traders see inside the wallets of top traders, funds, and influential players in crypto — and act on that information.

Sign up: https://auth.arkm.com/register?ref=blockworks

Eligibility varies by jurisdiction. Users residing in certain jurisdictions may be excluded from onboarding.

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

In this special episode, we introduce Blockworks’ new investor relations platform for onchain businesses.

As institutional capital continues to enter crypto markets, expectations around transparency, standardization, and professionalism are rising. But instead of replicating legacy systems, Blockworks IR takes a different approach, leveraging real-time, onchain data to create a more transparent, data-driven, and low-friction investor relations model.

The platform combines curated analytics, branded investor portals, and white-glove advisory support into a single solution, helping teams tell a clearer, more credible story while giving investors a more efficient way to evaluate opportunities.

Launched at the Digital Asset Summit in New York, Blockworks IR aims to fill a critical gap in the industry. Listen to learn more about the vision behind the product and what it means for the future of investor relations in crypto.

We explore a market caught between fragile stability and mounting geopolitical pressure, where central banks, energy shocks, and liquidity constraints collide in unpredictable ways.

Quinn and Felix break down the latest Fed meeting, shifting rate expectations, and how global energy disruptions in the Middle East are reshaping macro positioning and investor sentiment.

We cover energy shocks, policy paralysis, equity vulnerability, geographic imbalances, and why markets may be underestimating second-order effects across currencies, commodities, and risk assets. Enjoy!

TIMESTAMPS:

00:00 Intro

04:12 Fed Meeting & Market Reaction

10:45 Foreign Central Bank Dilemma

14:40 Potential Export Ban & Downplaying Risks

18:55 Most Vulnerable Economies

22:08 Agriculture Complex & Financial Warfare

26:58 Ads (Arkham)

27:46 Russia Winning While the World Burns

29:58 Growth-Inflation Dilemma & Fragile Positioning

39:42 Transferring Vol, U.S Trade Balance

42:50 Risks to the U.S. & Global Domino Effect

48:07 Final Thoughts

FOLLOW THE SHOW

› Quinn – https://x.com/qthomp

› Felix – https://x.com/fejau_inc

› Forward Guidance – https://x.com/ForwardGuidance

› Blockworks – https://x.com/Blockworks

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

EVENTS

› Join us at Digital Asset Summit 2026 in NYC (March 24–26)

› Use code FORWARD200 for $200off

https://blockworks.co/event/digital-asset-summit-nyc-2026

RESOURCES

› Weekly Roundup Charts – https://drive.google.com/file/d/1ARpAEgw6gVndjjSP2m882nsfMOkT4o68/view?usp=sharing

SPONSORS

› ARKHAM

Arkham isa crypto exchange and blockchain analytics platform. that allows traders and investors to look inside the wallets of the best traders, largest funds, and. most influential players in crypto — and act on that information.

Sign up to Arkham: https://auth.arkm.com/register?ref=blockworks

Eligibility. varies by jurisdiction. Users residing in certain jurisdictions will be excluded from onboarding.

DISCLAIMER

Nothing. said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

In this episode, we explore how a sudden oil shock and geopolitical conflict can quickly rewrite the global macro outlook, forcing markets and policymakers into a difficult balancing act between inflation and growth.

We sit down with Bob Elliott of Unlimited Funds to unpack how the Iran-driven oil shock fits into today’s fragile, savings-driven economy.

We discuss oil shocks past and present, policy sequencing, bond market reactions, global currency impacts, and why markets may be underestimating the second-order effects of rising energy prices. Enjoy!

TIMESTAMPS:

00:00 Intro

02:30 Oil Shock Challenges & Today vs 2022

10:13 Contrasting the 2008 & 1970s Oil Shocks

15:15 The Energy Shock Impact on Households

19:16 How Will Central Banks & Bonds React?

29:50 Ads (Arkham)

30:38 Oil Shock Sequence of Events

32:28 Iran War's Asymmetric Regional Impact

39:00 What Happens to Gold?

42:02 Understanding a Wartime Economy

46:36 Final Thoughts

FOLLOW GUEST

› X/Twitter – https://x.com/BobEUnlimited

FOLLOW THE SHOW

› Felix – https://x.com/fejau_inc

› Forward Guidance – https://x.com/ForwardGuidance

› Telegram – https://t.me/+CAoZQpC-i6BjYTEx

› Blockworks – https://x.com/Blockworks

EVENTS

› Join us at. Digital AssetSummit 2026 in NYC (March 24–26)

› Use code FORWARD200 for $200 off

https://blockworks.co/event/digital-asset-summit-nyc-2026

SPONSORS

› ARKHAM

Arkham is a crypto exchange and blockchain analytics platform that lets traders see inside the wallets of top traders, funds, and influential players in crypto — and act on that information.

Sign up: https://auth.arkm.com/register?ref=blockworks

Eligibility varies by jurisdiction. Users residing in certain jurisdictions may be excluded from onboarding.

DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.