It has been a crazy first third of the year. Soaring gold, unprecedented vault movements, LBMA delivery delays, massive tariffs and talk of "monetization of the US balance sheet". What does all this mean and are these events connected? That's the subject of today's podcast.
You've likely heard me describe myself as John Nash at the end of "A Beautiful Mind". All of the clues tacked to a wall and connected with strings while Nash tries to make sense of it all. In the end, he needed medication to focus his mind. Maybe I do, too.
For help with thinking this through, I reached out to Dan Oliver and asked for his input. I've long admired Dan's work and I know that many of you have, too. I figured that if anyone could help me to make sense of it all, it would be Dan and he didn't disappoint.
Over the course of this call, Dan discusses:
- The End of The Great Keynesian Experiment...in his own interpretation and terms
- the current focus on the U.S. trade deficit and tariffs
- the delicate balance of Trump's policies and possibility of disaster
- SecTreas Bessent's "monetization of the asset side" comments
- and much, much more
Dan's writings are always freely available at his website, where you can register your email if you'd like to be notified each time he posts something new. Below are links to his past three monthly missives and I'd strongly encourage you to read all three.
- February - "Gold Monetization"
- March - "Stocks On Their Own"
- April - "Dulce et Decorum Est Pro Impose Tariffs"
Many thanks to Dan for so generously sharing his time and insights. I'm confident that you are going to enjoy this podcast.
TF
