John dubs this episode "Hot Spots" because of the deep dive they take into geopolitical flare-ups, starting with Turkey. 

John notes the good thing about currency devaluations – that they're nothing we haven't seen before. "We've had currency problems before… the Russian ruble's always been a problem, and even three years ago the Chinese yuan when they devalued." 

So with each of these currency bombs, there's a script to follow – "Who is holding the old maid?" 

Scott points out a silver lining: There's good reason to think this problem is more Turkey-centric, and could be good for money flows into the U.S. economy. But markets are expecting the situation in Turkey to deteriorate. "We'll see how that plays out." 

Greg makes the connection to yet another unintended consequence of the Fed's monetary policy, and its spillover consequences to emerging markets. Scott makes a prediction for where interest rates are headed in the U.S. this year. 

Scott and John discuss S&P earnings, and Scott gives a market outlook based off the current earnings multiple. John wonders if this quarter's earnings growth could possibly be a peak.

Moving on to the big headline of the week, John, Scott, and Greg discuss Elon Musk's proposal for a leveraged buyout. Scott and John talk about how Saudi Arabia, which has long been opposed to electric vehicles, is the most talked about party for this to become a reality. 

Greg lists the problems he sees with Tesla as a company, and wonders how a company with these financials could be worth $350 a share.

However, Greg notes that despite its poor financial situation, investors are still crazy about the stock, and its unpredictability has it placed on his "no trade" list. 

The Marketcast hosts welcome on Mike Lang, creator of the Stansberry Terminal. Mike explains the Terminal's features, from real-time stock prices to a dynamic view of all Stansberry content. Mike leaves listeners with a brief overview of the Terminal's future, and what it hopes to achieve. 

After the interview, John and Greg discuss last week's moves in oil and gold, and talk about why both are struggling with the dollar rising. And to wrap up, Scott tells listeners what to be on the lookout for in the week ahead.