This episode is sponsored by Masterworks.

Jeff is Head of Global Investment Research for Alhambra Investment Partners. He started his career in portfolio management and equity research before focusing on broad investment research since the 2000s. In this podcast, we discuss:

1. Do central banks believe in QE?
2. Why QE didn’t generate inflation after GFC.
3. What is money and can central banks control it?
4. The importance of banks.
5. What caused the 1970s inflation.
6. The rise of the offshore dollar (euro-dollar) system.
7. Why fiscal stimulus won’t work.
8. The problem with market fragility and illiquidity.
9. Central banks care about equity markets.
10. What could generate inflation?
11. Book that influenced Jeff: A Monetary History of the United States, 1867-1960 (Friedman, Schwartz)