Welcome back to another Trader Top 9! As June turns into July and America gets ready to celebrate Independence Day, we bring you a big think edition featuring Senate hearings on CBDCs, questions of lurking inflation, and much much more.

9. Let’s start with the macro environment. One of the most interesting features of this moment is the amount of cash consumers are sitting on. Excessing spending or excessing saving could both be bad.

8. When it comes to that inflation concern, some are already seeing signals - particularly around food prices

7. As if to demonstrate the space between markets and Main Street, some are noticing trends pointing to a new “golden age of equity"

6. Whatever the reality of the existing financial system, this week the Senate was also looking into the future of money with a hearing on digital currencies

5. Super interestingly, as part of the hearings, the American Banking Association came out with this strong argument against central bank digital currencies

4. There is no denying we’re living in a moment where big questions are being asked about the financial system, and, of course, the role of Mr. FEDerico

3. As time moves on and those questions get louder, the common myths around alternatives like bitcoin are also getting debunked

2. At the end of the day, the tail of the tape showed bitcoin with its third best quarterly close in history

1. So to all the builders and believers out there, we echo Erik’s sentiment. Keep going. Keep building. The future awaits!