May 11, 2025

Hugh Hendry: TRUMP's Plan to RESET Global TRADE – Painful Times Ahead

1 hour 41 minutes

In this cinematic rant, Hugh Hendry explores the state of the global macro realignment of the century, drawing historical parallels between Alexander Hamilton, Abraham Lincoln, and Donald Trump to frame America’s evolving economic stance. He criticizes the longstanding international monetary dynamics—especially China’s manipulation of the yuan-dollar exchange rate—and describes the U.S. dollar as a “public good” exploited by foreign actors. Hendry likens current U.S. policy under a theoretical “Trump 2.0” to chemotherapy for a stage-four cancer patient—painful but potentially lifesaving. He discusses the potential consequences of rebalancing trade and monetary systems, including asset price deflation and a revaluation of labor. He predicts a deflationary threat in China and sees Bitcoin as a high-convexity asset aligned with U.S. policy objectives, ultimately revealing his own active portfolio positioning around Bitcoin, treasuries, and short-term rate contracts.

🏆 GET ONE FREE GRAM OF GOLD by opening an account at GoldRepublic :

👉 ⁠⁠⁠https://qrco.de/Macroscopic_1Gram⁠⁠⁠

📲 Download the GoldRepublic app:

- Google Play: ⁠⁠⁠https://play.google.com/store/apps/details?id=com.goldrepublic⁠⁠⁠

- Apple Store: ⁠⁠⁠https://apps.apple.com/nl/app/goldrepublic/id475643876⁠⁠⁠

🟠 Buy and store physical allocated gold, silver and platinum.

👉 Open an account: https://bit.ly/38stf7p

⚠️ DISCLAIMER ⚠️

The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of any entities they represent.

The information provided in this video statement is not an offer, investment advice, or financial service. It is also not intended to encourage you to buy or sell a product or to purchase a service from GoldRepublic, nor as a basis for an investment decision. A decision to invest in a GoldRepublic product can and may only be based on the information contained in a final prospectus and any Key Investor Information and other information about the product concerned (such as annual or semi-annual results). This information is available on the website (www.goldrepublic.com). If necessary, call in an advisor.

Timestamps:

00:00 – Intro

02:47 – Hugh's life update

06:14 – Trump 2.0: the Dollar's Plan to Strike Back

14:27 – Critique of Chinese Currency Manipulation

17:04 – Historical Comparison: Hamilton & Lincoln

20:04 – Analogies Between U.S. & China Policies

23:00 – Mispricing of Dollar / Renminbi "Red Cabbage” Metaphor

25:02 – Global Asset Overvaluation of Everything

28:00 – The CCP's Incentive to Keep its Citizen Under Control

31:00 – Why China Needs US Treasuries

34:24 – “Empire Strikes Back": QE2 as Trade Weapon

37:00 – Mechanics and Consequences of QE

40:57 – 1935 Silver-Standard Parallel

49:48 – U.S. Economy Has Stage 4 Cancer

53:22 – China’s Vulnerability to Hyperinflation

56:40 – Signs of Chinese Domestic QE

59:00 – The Illusion of China Dumping U.S. Treasuries

1:01:11 – Media Manipulation

1:03:30 – The Belt and Road Mirage

1:05:19 – Macro Trade Thesis: Recession vs. Rally

1:07:45 – Tariffs’ Effect on U.S. GDP Components

1:11:07 – Treasury (“TLT”) & SOFR Contract Strategies

1:15:15 – Bitcoin’s Performance in Risk-Off Episodes

1:19:24 – Bitcoin vs. Gold

1:23:33 – Hugh's Outlook

...more

View all episodes

By GoldRepublic

22 ratings