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PM GoldFix: Tom Luongo and How a Global Reserve Currency Dies Part II
0:00
-1:10:14

PM GoldFix: Tom Luongo and How a Global Reserve Currency Dies Part II

"We're watching an incremental process play out away from the U.S. dollar."

Info

”This isn't an hour of doom porn, but rather a sober look at how real markets and market players respond to incentives over time and in response to policy.”- Tom Luongo

Description:

This is Part II of the discussion between Tom Luongo, Tom Bodroviks of Palisades Gold Radio and myself. We all take turns trying to walk through mechanisms by which a market shifts from one place to another and why that has massive implications for the US dollar and the global economy. The original Palisades Broadcast can be found here

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Main Points From This Episode:

- How demand for gold and other commodities is moving east, and with it the businesses like, storage, refinement, and manufacturing

- Tom Luongo believes the dumbest thing Trump ever did was putting shock and awe sanctions on Iran, as it took away the convenience premium of the dollar and forced Iran to create an infrastructure that incentivised people to use other currencies.

- Why we're watching an incremental process play out away from the U.S. dollar.

Time stamp approximations also via Tom B.

0:00 - Introduction
0:44 - Gold Convertibility
15:19 - Major Wars & Currencies
22:40 - Western Foreign Policy
29:43 - BRICS+ Changes
33:23 - Gold C.B. Bookkeeping
43:55 - Digital Euro & FedNow
54:00 - Debt Ceiling & Biden
56:24 - Powell & End of Libor
1:03:42 - Dollar Demand & Flows
1:07:25 - Preps & Slow Collapse?
1:10:08 - Wrap Up

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