Otavio (Tavi) Costa(@TaviCosta ):Hearing Kevin Warsh talk about Fed independence, and watching hard assets sell off on that, feels a lot like the hype around DOGE. Great in theory, but ultimately unrealistic. The reality is that government debt has reached a scale that no brilliant policymaker can solve. Mute the noise here. There’s only one job left: Lower rates to make the federal debt more affordable. None of us own enough hard assets.

Otavio (Tavi) Costa

@TaviCosta

Founder & CEO of Azuria Capital LLC. Macro thinker, history student, value-oriented investor. Native of Sao Paulo, Brazil 🇧🇷 E-mail: tavi@azuriacapital.com

Joined June 2014

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Otavio (Tavi) Costa@TaviCosta

2026.04.21 19:28

Hearing Kevin Warsh talk about Fed independence, and watching hard assets sell off on that, feels a lot like the hype around DOGE. Great in theory, but ultimately unrealistic. The reality is that government debt has reached a scale that no brilliant policymaker can solve. Mute the noise here. There’s only one job left: Lower rates to make the federal debt more affordable. None of us own enough hard assets.