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Author and Investor Luke Gromen discusses how energy costs are the base layer of money, signaling a potential shift in the monetary system. He explains why the 60/40 portfolio is obsolete, the impact of energy price changes on the monetary system, and the role of energy in shaping empires and currencies. The conversation also touches on the transition towards using gold in global trade dynamics and the implications of an evolving financial system.
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Quick takeaways
- Understanding the relationship between energy and money is crucial in grasping economic dynamics.
- The changing dynamics of gold replacing treasuries as a primary reserve asset signal a re-pricing of the dollar, driven by geopolitical shifts favoring gold for settling oil imbalances.
Deep dives
The Divergence of Asset Performance
Different asset classes, like the S&P 500, gold, and Bitcoin, have shown significant variations in performance since 2020, highlighting the diverse denominators at play in financial markets.
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