Is Quantitative Easing money printing? How is credit creation really working? How does it impact cycles of inflation, disinflation, deflation, stagflation?
🔘Watch the episode on YouTube: https://youtu.be/LDwZqOuY0mQ
In the first part of this educative interview, Alfonso Peccatiello (Author of the Macro Compass newsletter and contributor at Real Vision) debunks some common misconceptions behind the meme of money creation.
Alfonso (aka Alf) puts his experience and knowledge of financials markets at work by explaining the fundamentals of how "credit impulse" have effects on inflation and deflation in addition to the mechanics of debt monetisation.
🌐 About Alf
Alf is the author of The Macro Compass (https://TheMacroCompass.substack.com), a free and fast-growing financial newsletter providing actionable investment ideas and unique global macro insights to enhance the risk/reward profile of your investment portfolio. Alf is a regular contributor at Real Vision.
Previously, he was the Head of Investment Portfolio for the Treasury department of ING Germany. There, he was in charge of the active management of a $20bn multi-asset (focus on fixed income) portfolio delivering strong risk-adjusted performance.
Sign up to Alf's free newsletter: https://TheMacroCompass.substack.com
🗓️ Recording date: 21/01/21
🎙️ GoldRepublic Podcast 🎙️
A podcast inviting guests with valuable insights into the emergence of a new monetary system through the lens of precious metals, cryptocurrencies and other financial instruments presented by Bart Brands, Precious Metals Specialist and Alexej Jordanov, Content Architect at GoldRepublic.
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⏰ Topics ⏰
00:00 Preview
00:34 Introducing Alf
01:36 Why stop managing a 20 billion euro portfolio?
02:40 Misconceptions about the monetary system
05:10 The bubble of narratives
08:19 Intellectual honesty
09:25 Afl's north star: explaining credit impulse
20:13 Factors of growth
24:22 Credit: economic growth on steroids
27:22 Balance sheet recession
29:24 The wealthy effect
30:34 Whatflation: inflation, disflation, deflation, stagflation
35:06 Outro
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