Podcast Episodes

What If Government Debt Isn’t Debt at All?

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The Ricardian Equivalence, Treasury Debt, and the Modernity of Money

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Published on 1 day, 3 hours ago

Do Deficits Make You Rich?

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Do Deficits Make You Rich?

The uncomfortable truth: fiscal stimulus creates wealth, not consumer inflation.

Sat pondering in a Caribbean bar, thinking about intelligence, the Fed, deficit…

Published on 3 days, 1 hour ago

When America Pretends to Be Reckless

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In this acid breath of mine, I drift between the sublime and the sardonic. 

I trace how America, once the debtor, became the empire, how quantitative easing rewired the flow of wealth fr…

Published on 5 days, 2 hours ago

Copper, Gold and Trading the Fuzzy Cloud

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I began with CPI, but as usual, I ended up somewhere between Beethoven and gold. The headline CPI 3%, core the same. The whisper was higher. The market calls it “Goldilocks.” Not too ho…

Published on 1 week, 1 day ago

The Quantum Crisis: Gold, China, and the Trust Deficit in Markets

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Perhaps the best, most revealing of this daily series. This is macro analysis as cabaret. 

The Japanese call it, rakugoka (落語家), a man in kimono, I have no kimono, seated on a cushion pe…

Published on 1 week, 2 days ago

Did Gold Just Crash…or Reset?

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ʏᴇꜱᴛᴇʀᴅᴀʏ’ꜱ ᴛʀᴀᴅɪɴɢ ꜰᴇʟᴛ ʟɪᴋᴇ ᴀ ᴍɪʀᴀɢᴇ. ᴛʜᴇ ᴍᴀʀᴋᴇᴛ ʟᴏᴏᴋᴇᴅ ᴄᴀʟᴍ, ʏᴇᴛ ᴜɴᴅᴇʀ ᴛʜᴇ ꜱᴜʀꜰᴀᴄᴇ ᴛʜᴇʀᴇ ᴡᴀꜱ ꜱʜᴀᴋᴇꜱᴘᴇᴀʀᴇᴀɴ ᴅʀᴀᴍᴀ.

ꜱᴛᴏᴄᴋꜱ ᴅɪᴇᴅ ɪɴ ᴘʟᴀɪɴ ꜱɪɢʜᴛ ᴡʜɪʟᴇ ᴛʜᴇ ɪɴᴅᴇx ʙᴀʀᴇʟʏ ʙʟɪɴᴋᴇᴅ. ɢᴏʟᴅ ᴛʀᴇᴍᴏ…

Published on 1 week, 3 days ago

The Real Pulse of Money: Gold, Bonds, and the Hidden Trade

Season 1

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October 21st, no fanfare, just me and my thoughts. I have been on X all day, and only later realized gold had fallen sharply. Some people thought I had timed my comments to take gold do…

Published on 1 week, 4 days ago

Acid Breath: Why Everything’s Going Up for the Wrong Reason

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Creativity, Chaos, and the Signals That Matter

Gold's ripping, stocks are ripping, but this isn't a hedge, it's a hallucination. 

In today's episode, I break down the paradox of rising fe…

Published on 1 week, 5 days ago

Acid Breath: Any Fool Could Make Money in Gold

Season 1 Episode 16

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Any Fool Could Make Money in Gold

But Only a Lunatic Could Explain It Like This

The lights flicker but they don't go out.

Today I tracked the silence. No CPI, no jobs print, no retail sale…

Published on 2 weeks, 1 day ago

Acid Breath. Inside the Macro Storm: Fed Policy, TSMC Earnings, and the Next Credit Crunch

Season 1 Episode 15

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There’s a smell in the air, that faint electric tang before a storm. The markets are choppy, the screens green and red in alternating flickers, and behind it all you can almost hear the…

Published on 2 weeks, 2 days ago