Tom welcomes back experienced investment professional David Hunter of Contrarian Macro Advisors.

Talking Points From This Episode

* The coming global bust and why inflation will persist.* We're in the last decade of a forty plus year supercycle.* His thoughts on energy in the near-term and during the bust.

Time Stamp References:0:00 - Introduction0:40 - Market Re-Cap4:29 - Meltup Rally Thesis7:27 - Timelines9:29 - Fed Policy & Liquidity16:30 - Policy Lag & Inflation20:00 - Rates & Liquidity23:12 - Politics & Powell29:00 - ECB/BOJ Pivots & Gold37:44 - Metals Reaction41:52 - Energy Prices46:40 - Overall Summary52:03 - Wrap Up

Guest LinksEmail: [email protected]Twitter: https://twitter.com/DaveHcontrarian

David is Chief Macro Strategist with Contrarian Macro Advisors. He is an investment professional with 25 years of investment management experience and 21 years as a sell-side strategist with robust macroeconomic analysis and portfolio management expertise. His strong macro capabilities, combined with a contrarian philosophy, have allowed him to forecast economic cycles and spot market trends well ahead of the consensus. Intellectually honest, independent thinker comfortable with charting a course apart from the crowd.

Tom welcomes back Francis Hunt, Founder of "The Market Sniper" to the show.

Francis discusses the bond market bottom of March 2020 and the series of rate hikes that came afterward. We're beginning to see the lagging effects of the Feds policy. In addition, there are a series of long-term demographic shifts which are placing great pressure on the system. Both growth and inflation are now moving in the wrong direction, and these contractions will be deeply uncomfortable.

He shows the current gold chart and how it appears we are breaking trend lines. He argues that silver will also outperform, it will just occur in a later secondary phase. Gold against most currencies is nearing new highs. It is winning by doing exactly what it should do.

Francis discusses where silver will head under various scenarios. The markets today are entirely different from what we had in the 1980s. No one has ever lived in an era like the one we find ourselves in today.

The purpose of CBDC's is to create reliance on the state. It is a massive control mechanism. You will want to watch out for new dangerous laws because we're dealing with psychopathic, motivated, and relentless control freaks.

He discusses the positives and potential pitfalls of crypto markets in the coming financial system.

Bonds are unlikely to drop to the lows of a couple of years ago. It seems likely we are in new territory, but a pullback to the two percent level is possible. We're entering a period of slowing growth and reduced demand, which is affecting the oil markets.

Lastly, Francis discusses where markets will likely head based on the ten-year treasury outlook, and it's recent record. Finally, he notes that energy is forecasting hard times ahead.

Time Stamp References:0:00 - Introduction0:38 - Rates & Contagion5:32 - Gold Chart & Structures8:56 - Gold Vs. Currencies19:18 - Gold/Silver Ratio25:30 - Timelines & Spikes31:07 - The CBDC Push?42:02 - Usefulness of Crypto?47:47 - Technical Analysis & Oil1:00:12 - Natural Gas & Uranium1:03:22 - Crushing Consumers1:04:30 - US 10Y & 2Y History1:07:55 - Narratives & Risks1:09:20 - Wrap Up

Talking Points From This Episode

* Analysis of Fed policy and demographic shifts in the U.S.* Gold chart and why it is breaking out against all currencies.* The reasons for lag in silver and why it will outperform in a later stage.* Energy market outlook and concerns around recession.

Guest LinksTwitter: https://twitter.com/themarketsniperWebsite: https://themarketsniper.com/YouTube: https://www.youtube.com/user/TheMarketSniper

Francis is a trader, first and foremost. Unlike most educators in the trading space, Francis walks the walk and talks the talk, with 30 years of experience trading his personal capital on various markets and instruments. Through this passion for trading and his relentless study of markets and economic theory, he uses the Hunt Volatility Funnel trading methodology, a systemized approach, to answer the critical question: What is the next most profitable trade?

He believes the actual price of an asset is the most accurate reflection of all the factors that influence it. Practical technical analysis, the study of price action over time, is needed to formulate profitable trade ideas. Indeed, with all the market manipulation and high-frequency trading operations currently in play, technical analysis is all that can be relied upon when it comes to formulating future price trends.

Tom welcomes back our other favorite Tom, the Tom Luongo, to discuss the recent banking crisis and the Fed's involvement in it. Luongo believes Jerome Powell is trying to return to a classic regional banking model. He explains how the Fed is betraying the Eurodollar system by having SOFR at odds with LIBOR.

Luongo believes Powell wants to undo the damages of the last 15 years and feels it is important to understand the motives of the Fed and globalists.

He also suggests that the Fed took out Silicon Valley Bank due to its involvement in crypto, which could have created an escape velocity for trust in those systems, and challenged the Federal Reserve's control of monetary policy and fiscal policy.

Powell's move to guarantee the hole in the regional banks' balance sheets has had a positive impact on the local credit unions, which can now start offering positive savings rates again. Additionally, the Fed has created a sump pump for US Treasury demand here in the US banking system, which transfers risk overseas and helps protect credit spreads. Christine Lagarde has been attempting to manage credit spreads, but is running out of bullets.

Mr. Luongo discusses the recent shift in monetary policy by the Bank of Japan, which saw the appointment of Ueda as the new head of the bank. Tom suggests that this signals the end of Quantitative Easing in Japan, and that this could lead to the unwinding of the low-yield carry trades that had been supported by the BOJ's yield curve control. He then explains how this could impact Christine Lagarde's efforts to maintain credit spread stability, as the BOJ's yield curve control had been supporting her efforts. Finally, he speculates that this could lead to a weakening of the Euro, potentially leading to its breaking the parity with the Dollar and going as low as 60 or 70 cents.

Tom explains the differences between Janet Yellen and Jerome Powell and why Yellen is seen as a political animal. He then explains the differences between the East and West in terms of their monetary systems - the East is moving towards a commodity-backed system, while the West is trying to maintain the old system. Tom concludes by discussing the speed of capital flows, and the need for trust in order for a new system to work.

Lastly, the Toms also discussed the importance of reading widely and steel-manning your own arguments to have a strong foundation for forming opinions. Luongo also encouraged listeners to be cautious but avoid panic, and to understand that Davos and other powerful players are still making moves on the board.

Time Stamp References:0:00 - Introduction0:50 - Banking Crisis & FED6:36 - Targeting Inflation14:46 - Eurodollar & Crypto17:26 - Bail-Outs & Capitalism22:10 - Spreads & Domestic Mkt.29:25 - Rate Risks & Europe34:20 - Japan & BOJ & Europe45:10 - LIBOR vs. SOFR52:33 - Yellen Vs. Powell58:10 - New Monetary System?1:02:00 - Dollar & Global Trade1:10:46 - Remonetizing Gold?1:18:28 - Picking Rates?1:20:00 - The Bigger Picture1:23:42 - Learning & Growth1:31:14 - The Anti-Info Age

Talking Points From This Episode:

* How Davos and other powerful players still making moves on the board.* The importance of raising interest rates to 6-7% and focusing on balance sheet and dollar flow reduction.* The potential de-dollarization of the global economy due to US policies.* The need for a gold-backed currency to solve the US' unfunded liability problem.

Guest Links:Website: https://tomluongo.meTwitter: https://twitter.com/TFL1728Patreon: https://www.patreon.

Tom welcomes Robert Moriarty back to the program to discuss the latest in interesting times in finance. Bob explains where the money is really coming from to bail out the recent failures in the banking system, noting that the $200 billion figure has ballooned to $2 trillion. The Federal Reserve has effectively committed to printing $2 trillion in a week, which is unprecedented.

Bob believes that the system can't be repaid mathematically, so something is bound to blow up, leading to inflation and deflation in response to the new debt. He also covers the history of banking in the United States and the purpose of the Glass-Steagall Act, as well as the impact of geopolitical risk.

Bob expresses his dismay about the quality of the leadership in the US and his concern about the potential for increased conflict. He concludes that there is no real limit to how much money can be spent on bailouts, and that sanctions and conflict risks seem to be increasing, without helping the situation.

Time Stamp References:0:00 - Introduction0:55 - All Debts Get Paid4:28 - Causes & Bond Markets8:23 - Flationary Effects?15:17 - Saudis & Ukraine18:05 - Sanctions & Seizures21:00 - Alt. Competing Systems23:30 - New Standards25:44 - FDIC Bailout-ing27:42 - Cash & Real Assets29:42 - Shares & Margin31:42 - Geopolitics & Conflict37:07 - Collum Year-In-Review41:21 - Gold Price & Miners43:53 - Scary Times46:30 - Wrap Up

Talking Points From This Episode

* Why the existing monetary system is destined for complete failure.* The expansion of the BRICS+ countries and heightening geopolitical tensions.* What possible actions will the Fed undertake to "fix things" in this environment.

Guest Links:Website: http://www.321gold.comBooks on Amazon: https://www.amazon.com/Robert-Moriarty/e/B01A9I4TJU?ref=sr_ntt_srch_lnk_3&qid=1599932580&sr=8-3

Bob Moriarty founded 321gold.com with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind, and nuclear energy. Both sites feature articles, editorial opinions, pricing figures, and updates on both sectors' current events. Previously, Moriarty was a Marine F-4B and O-1 pilot, with more than 832 missions in Vietnam. He holds fourteen international aviation records.

Tom welcomes back Chris Irons from the Quoth the Raven podcast to discuss the lack of fear in the markets, which is questionable considering the current circumstances. We are still far from the despair of a bear market, and the belief in a return to normalcy has kept equities overvalued. Recent events have pointed to a much harder landing than predicted, and this is just the beginning of the problem cycle. It may take months for rate hikes to affect the financial plumbing and cause further dominos to fall.

Nobody knows if the Fed has things under control or when more issues will arise. The Fed is attempting to quell panic with more panic, and they will likely choose to let inflation win over destroying the economy. This should be a great time for precious metals investors to sit back, relax, and watch the show. The Fed will probably be late with the right response, kick-starting a supercycle for gold. Eventually, they will cave and resume printing, supposedly to restore prosperity. Any move by the Fed will be amplified substantially.

Chris believes there will be a major blow up within crypto and the stablecoins, with most of the dollar-pegged coins eventually going to zero. He suggests if dabbling the space then invest solely in Bitcoin and avoid other riskier crypto assets. Lastly, he touches upon the problems with the dollar's reserve status and a recent interview with Andy Schectman on Kitco.

Time Stamp References:0:00 - Introduction0:36 - Panic With Panic6:29 - Market Psychology9:36 - Speculative Excrement14:16 - Contagion Risks18:04 - Soft Landing/Bailouts23:12 - Market Risk & Gold27:22 - Fed Policy Effects29:16 - Inflation Re-Targeting32:55 - Crypto Contagion & Banks39:20 - Crypto Dollar Peg Frauds43:50 - Dollar Hegemony Status47:25 - Wrap Up

Talking Points From This Week's Episode

* Recent events have pointed to a much harder landing than predicted, and this is only the beginning of the problem cycle.* Precious metals investors should be in an excellent position to relax and watch the show as the Fed willlikely be late with the appropriate action.* Why the Fed will allow inflation to win out given the alternatives.

Guest Links:YouTube: https://www.youtube.com/channel/UCxUo55-0ScpOQNdug8FCzzA/videosPodcast: https://quoththeraven.podbean.comSubstack: https://quoththeraven.substack.comTwitter: https://twitter.com/QTRResearchAndy Schectman Interview: https://quoththeraven.substack.com/p/a-tsunami-of-inflation-one-interview

Chris Irons is the host of The Quoth The Raven Podcast, a show dedicated to discussing Fringe Finance topics and exploring the boundaries of investment decisions. Irons has spent years reading the news and has developed a strong opinion on the mainstream media's ability to drive a narrative which serves the interests of a small minority. His focus is to provide content that is rarely found elsewhere and to curate content from people he respects. Irons is not afraid to challenge the mainstream narrative or succumb to it when it serves the collective best interests.

Chris is not providing investment advice and the content on The Quoth The Raven podcast/substack is not meant to be taken as such. Anything mentioned should not be taken as a recommendation to buy or sell anything.

Tom welcomes Brett Oland, the CEO of Bow Valley Credit Union, about their gold-backed initiative. Brett has been in the banking world for 20 years and he is a chartered accountant and CPA. Brett believes that inflation is a massive problem and it will continue for the foreseeable future, resulting in the devaluation of the US dollar. Brett explains currency printing, debt to GDP ratios, and how governments have crossed the debt to GDP Rubicon. Brett also discusses the environmental hysteria surrounding the green revolution, the US sanction list, and the One Belt One Road initiative, as well as the US unfunded liabilities and the worldwide pension crisis.

Tom then asked Brett about the possibility of a European nation, such as Spain, Greece, or Italy, falling as a result of the rise in DXY and commodities. Brett believes the US Federal Reserve will pivot either through quantitative easing or interest rate reductions. Brett suggests that the tool to stabilize the US balance sheet is gold, as it is globally accepted, and the US would need to couple their currency or treasuries to gold to prevent a massive deflationary event.

In order to protect Bow Valley Credit Union from the potential economic downturns, Brett has created a strategy to anchor part of their balance sheet with gold. Brett believes this strategy provides an effective way to hedge against tail risks, such as a devaluation event. Brett encourages everyone to talk to their local credit union and push for change in order to protect their finances against inflation.

Time Stamp References:0:00 - Introduction0:35 - Background2:09 - A Gold Initiative5:26 - The Convoy Protests9:44 - Fintrac & Policies13:00 - Presentation18:08 - Inflation & Devaluation26:30 - Japan & Yield Control32:16 - Fed & Treasury36:13 - Dollar Global Status38:34 - Importance of Energy42:27 - U.S. Unfunded Liabilities49:24 - Three Options59:16 - Scenarios & Gold1:01:07 - Gold as Insurance1:06:24 - Wrap Up

Talking Points From This Episode

* Why gold is an effective tool to stabilize the US balance sheet and hedge against tail risks.* Credit unions should consider anchoring part of their balance sheet with gold.* Consider talking with your local Credit Union for changes to protect member wealth.

Guest Links:Website: https://www.bowvalleycu.com

Brett Oland is the CEO and President of Bow Valley Credit Union, a position he has held for the past 4 years. Before his current role, Brett served on the Board of Directors of Credit Union Central of Alberta for 7 years. He was also on the Board of Directors of Bow Valley Credit Union for 6 years, with 2 of those years serving as Chair.

Brett holds a Bachelor of Commerce from the University of Calgary and is a Chartered Professional Accountant, Canada. He also holds the ICD.D (Institute of Corporate Directors Designation) from Rotman, University of Toronto. With over 20 years of experience in the banking industry, Brett is a highly respected leader in the field.

Tom welcomes back David Hay author, CO-Founder and CO-CIO of Evergreen Gavekal. He recently released his book "Bubble 3.0" which is a warning

David isn't surprised that Powell intends to maintain these rate levels, which remain well below the CPI. He is trying to cool the markets down, yet bond spreads have recently narrowed. Fixing the problems today is a conundrum, as deficits are rising. He expects credit spreads to widen, resulting in a downtrend for stocks.

What happens if government tax revenues decline while the Fed tightens and debt servicing rises? Things will become painful quickly. Central banks' acquisition of gold is running at record pace, and they are not buying U.S. Treasuries, which could be a real problem for the Fed. What if rates have to rise during a recession?

We are seeing the weakness in housing markets, especially in Canada, where prices are starting to crack, and commercial real estate is already a disaster.

We are in unprecedented territory, where fake GDP growth could occur. This is why people are suffering, as inflation eats up any wage improvements. Monetary policy works with lags, and these are variable but likely inevitable.

It is encouraging to see nuclear coming back as energy realities return, even though coal usage is setting records globally. He discusses how the nuclear regulatory commission should be renamed to the anti-nuclear regulatory commission.

David believes the uranium market is poised to outperform, as dozens of new plants are being constructed in Asia. He explains why SMR technology could be beneficial for stabilizing the grid, by creating power at a local level.

Talking Points From This Week's Episode

* Central banks are not buying U.S. Treasuries, which could be a real problem for the Fed if rates have to rise during a recession.* We are in unprecedented territory, with questionable GDP growth, and inflation eating away at wage increases.* Uranium is poised to outperform, as dozens of new plants are being constructed in Asia, and the benefits of SMR technology.

Time Stamp References:0:00 - Introduction0:42 - Powell & Higher Rates4:18 - Corporate & Gov't Bonds6:22 - Inflation Factors?13:47 - Fed & Political Risks17:30 - Debt Servicing & Ceilings22:36 - Housing Bubble Concerns25:23 - Consumers & Consequences27:50 - Outlook for the Economy30:50 - Fundamental Shifts?32:43 - Policy Effects33:16 - Gold Ratios & Recession35:20 - Copper Prices & Demand36:47 - Recession Probabilities38:55 - Energy & Inflation42:00 - Best Energy Options45:37 - Anti-Nuclear Commission53:34 - Gold Triggers & Trading55:00 - Bond Opportunities57:04 - Wrap Up

Guest Links:Website: https://http://evergreengavekal.com/Substack: https://haymaker.substack.comTwitter: https://twitter.com/Haymaker_0

David Hay is a longtime investment advisor and financial author from Bellevue, Washington. He and his wife, Mindy, now split their time between the Northwest, Southern California, and a few places in between (their two dogs love long road trips). They have six grandchildren, three of who live on the West Coast and three on the East Coast. Dave is desperately hoping for a better world for his grandchildren to grow up in than the one we have right now. In that regard, Dave is an ardent supporter of No Labels, a bipartisan political movement that currently includes roughly 70 members of Congress. He is the recently appointed Co-Chairman of No Labels’ Washington State organization. You can find his financial writings on his substack linked above on a...

The Fed was discussing transitory issues, but now they are talking of a mild recession. They have built a house of cards heavily reliant on rates and printing, and no one knows what could break in the system today. The unintended consequences of their actions could lead to a collapse. Despite this, the Fed may be reluctant to curb interest rates, meaning we could be in for a protracted period of recession lasting several years.

Investors today are used to the Fed coming to the rescue, particularly since 2009. But if they don't, markets and investors will be confused about how the recovery will work out naturally. Credit card debt is skyrocketing and car loans are seeing defaults, leading Gareth to believe we are in for a long drawn out recession. People have been overspending since the end of the lockdowns, and soon will have to cut back. Countries with resources, particularly metals, will likely do better than most. China is seeing a surge in demand internally, and it will be interesting to see if this leads to an inflation surge.

Gold is still attractive for its use as a fear trade, and can also do well during inflation. However, it has yet to outperform this year. Servicing the debt will put a burden on the system, while corporations will also have issues refinancing. There are many layoffs coming as a result. Gareth believes the downside for gold is minimal, and the upside is potentially amazing. Silver is trickier to gauge because of its industrial demand aspects, but should perform well if your time horizon is longer than average.

The dollar could continue higher if we get through this recession, which will in turn pressure metals and equities. We need to keep an eye on the jobs numbers on Friday. The decline in natural gas futures has been impressive and we are now in a trading range. Gareth still believes the Bitcoin markets are likely due for a further decline, and that we are seeing similar patterns. A bear market rally appears to still be in play, and a pullback to 18,000 or even lower seems likely. A recession or pullback in equities will also impact the crypto space, so lower targets remain possible. Gareth believes regulations in crypto will benefit the markets, as it will allow institutions into the space. Right now, legally they would have a lot of trouble investing.

Time Stamp References:0:00 - Introduction0:35 - Feds In Control?3:50 - Rates & Recession5:18 - Weakness Starting?7:29 - Global Outlook & China9:12 - China, Copper, & Steel10:40 - Gold & Inflation12:30 - Black Swans & Tensions13:28 - S&P Outlook Charts16:36 - Gold Chart20:36 - GDX Outlook?21:58 - Silver Chart23:00 - Dollar Direction24:15 - Energy - Crude25:25 - Trendlines & Closes26:54 - Natural Gas Futures28:46 - Bitcoin Volatility31:39 - Trading Tip33:40 - Wrap Up

Guest Links:Twitter: https://twitter.com/GarethSolowayWebsite: https://inthemoneystocks.com/Website: https://verifiedinvestingcrypto.comWebsite: https://verifiedinvestingeducation.comLinkedIn: https://www.linkedin.com/in/gareth-soloway-60827953/

Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University, where he studied Economics. After college, Gareth quickly excelled as a financial adviser, but his heart was always in swing and day trading. He had this long-standing belief that he could help investors make more money by advising them on shorter-term investments (holding a stock for days to weeks) than the buy and hold crowd who lost 50% of their money during every market col...

Tom Bodrovics welcomes Bix Weir, and Steve St. Angelo for a lively and professional debate around metals manipulation and mining. Bix believes there is a large amount of gold in the Grand Canyon region, while Steve believes it's uneconomic to mine both logistically and due to energy costs.

The conversation focuses on Charles Spencer and his attempts to mine gold in the area in the early 1900s, and how his efforts failed due to the fineness of the gold and the lack of a profitable return. They also discussed the New York Times article from 1912, which Steve speculated was an attempt to get more investors to invest in the mining operation even though it had been shut down.

The conversation then turned to the KISS principle, with Steve discussing the energy return on investment of oil, and how it has been steadily falling since its peak in 1970. This has caused a variety of issues, such as inflation, and Steve believes that it is more important to focus on energy than to get lost in the details of the manipulation theory.

Louis McFadden, the chairman of the Committee on Banking and Currency from 1920 to 1932, was then discussed, with Bix believing that he wanted to fix the problem of mines being uneconomical by introducing a tax of fifty percent. This was intended to give the miners a premium and encourage more gold production. Steve looked at the issue from an energy perspective, stating that the real problem is not the manipulation of the gold and silver price, but the lack of available energy and the way in which it has been siphoned away from poorer countries to the more developed nations.

The two experts then discussed gold and silver as money. Steve argues a lot of this money has been lost throughout time. Bix also spoke of the fixing of the price of gold at $20.67 in the US in 1900, which the banks knew would cause a lot of mines to fail due to the increasing costs.

Finally, Bix and Steve discussed institutional investors and their lack of understanding for investing in silver and gold, and how the US Mint is required by law to produce coins in quantities equal to demand, yet they are only producing a third of what they are capable of. They attributed this to the new Mint director, Ventress Gibson, who has never been in charge of the Mint before and is an HR professional. They believe that something bigger is going on and that the US Mint is holding back coins from the public.

They agree that gold and silver prices have been manipulated by large banks and the US government, but they disagree on the role of energy in the pricing. They also discuss the KISS principle, the energy cliff due to declining oil production, the Comex, and the US Mint's apparent lack of increased production of silver eagles. They emphasize the importance of energy, saying that it always comes first and is the foundation of the economy and all that we do. Lastly, they agree that silver will outperform gold in the coming years.

Timestamp References:0:00 - Introductions4:47 - Grand Canyon Gold?21:30 - 1900 Gold Supply33:54 - Gold Price Fixing36:57 - Taxes on Gold41:18 - Counterarguments50:00 - Gold Manipulation Chart1:00:10 - Derivative Impacts1:01:43 - Today's Production Costs1:06:05 - Supply/Demand & Price1:09:55 - Mining & Energy Use1:15:25 - 1980 Highs & Benchmarks1:25:40 - High Frequency Trading1:27:10 - Reserve Disparities1:29:34 - Silver Eagles & Supply1:39:12 - Energy & Fairy Tales1:45:22 - Energy & Crypto Mining1:46:54 - COMEX, Hedging, & ETFs1:57:22 - Revaluation & Metals?2:03:24 - Shale & Energy Sunset2:06:20 - Silver Lining Wrap Up

Talking Points From This Episode

* Bix believes that there is a large amount of gold in the area near the Grand Canyon and that...

Tom welcomes Julian Brigden to the show. Julian is Head of Research at Macro Intelligence 2 Partners.

Julian discusses the Feds options, including "Opportunistic Disinflation" to drain the inflation from the system. He believes it will take years to correct inflation and will likely be a painful process. The issues are not so much inflation, but nominal GDP. Most of GDP is based on the labor market and consumer behavior. The Fed understands the situation very well and they expect higher unemployment.

We don't know the exact approach the Fed is taking and if they are considering how inflation played out in the 1970s. The Fed today is very politicized and what happens towards the end of the year when we have higher unemployment and are heading into an election cycle. He says, "We're now fighting a kinetic war with Russia, a Cold War with China, and a war with climate change. Arguably, the dynamics today are far worse than in the 70s." The Fed will have to decide just how independent of the government it is. The Fed is trying to steer the supertanker, while most investors can change course much faster.

Mortgage applications have just dropped to the lowest levels since 1995. We're seeing higher than normal cancellations in the home markets. We're heading for a good old boom, bust market cycle in the sector.

The ECB is miles away from viable rates, arguably, as they are currently minus 300 basis points in real terms. We're in uncharted territory, and he discusses the German bond situation. All these sovereign bonds are basically interchangeable, so they all affect each other.

A weaker dollar would be very supportive for gold and especially silver. He explains the differences between the silver and gold market. Silver tends to outperform in inflationary environments.

We're in a structural bond bear market, be disciplined because passive investing will be heavily punished going forward.

Timestamp References:0:00 - Introduction0:41 - Rates & Feds Approach8:43 - Nominal GDP Issues11:14 - Inflation Today Vs 70s17:19 - Fed Reactionary19:50 - Housing Markets25:50 - Europe/ECB Impacts33:54 - BRICS & Reserve Status37:13 - Yields & Gold39:57 - Gold/Silver Differences43:31 - China & Deglobalization46:55 - Trading Cautiously48:39 - Wrap Up

Talking Points From This Episode

* The Fed is very politicized and this could have a major effect on how they approach inflation.* Mortgages applications are at their lowest level since 1995, indicating a possible coming bust cycle in the housing market.* Yields are at historic lows and silver is especially likely to perform well in an inflationary environment.

Guest Links:Twitter: https://twitter.com/JulianMI2Website: https://mi2partners.com/Substack: https://mi2partners.substack.com/

Julian Brigden is the Head of Research at Macro Intelligence 2 Partners, a firm he co-founded in 2011. He leads a six-person team of research and market professionals to publish independent macroeconomic research that is both ahead of market consensus and timely. Julian has over 30 years of experience in financial markets including positions in market and policy focused consulting to institutional investors as well as FICC sales.

Julian is a trusted advisor to many top money managers who use MI2 Partners’ research to guide their investment process. He has extensive experience with macro data analysis, broad fixed income, equity market (not individual stocks) and currencies. He is particularly skilled at exploring correlations in the economy and financial ...