Stijn Schmitz welcomes Christopher Whalen to the show. Christopher Whalen is Investment Banker, Author, Chairman Whalen Global Advisors. The discussion centers on the current economic landscape, with a particular focus on gold, monetary policy, and the future of the global financial system. Whalen argues that the world is in the early stages of a gold up-cycle, primarily driven by central banks increasingly adopting gold as a key reserve asset. He emphasizes that while the US dollar remains crucial for global trade, its dominance is gradually shifting. Whalen provides insights into the current economic challenges, highlighting inflation as a significant concern. He suggests that the federal deficit and monetary expansion are primary drivers of economic instability. The conversation explores the potential for alternative monetary approaches, including gold-linked bonds and revaluing gold stocks, though Whalen remains skeptical about a complete return to a gold standard. Regarding global currency dynamics, Whalen believes the BRICS settlement currency and attempts to challenge the US dollar's supremacy are unlikely to succeed in the near term. He argues that the dollar's utility in financing transactions and its widespread acceptance make it difficult to replace. However, he anticipates a gradual decline in the dollar's global share, moving towards a more multilateral system reminiscent of the pre-World War II era. On investment strategies, Whalen recommends diversification, particularly advocating for 10-20% of portfolios to be allocated to gold. He is cautious about current equity markets, especially tech stocks driven by artificial intelligence hype. The banking sector presents mixed prospects, with consumer banking relatively stable but commercial real estate posing significant challenges. Ultimately, Whalen remains optimistic about the United States' economic potential. He believes the country's natural resources, economic flexibility, and inherent strengths will help manage current financial challenges. The discussion concludes with a nuanced view of economic transformation, suggesting adaptation rather than catastrophic decline.