The Wolf Of All Streets Trump’s Tariffs Just Supercharged Bitcoin - Here’s What’s Coming | Macro Monday
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Apr 14, 2025 Mike McGlone, a macro strategist, Dave Weisberger, an experienced trader, and Noelle Acheson, a market commentator, delve into the impact of Trump's tariffs on Bitcoin and the broader economy. They discuss how these tariffs are shaping the macro landscape and influencing inflation and rate cuts. The guests analyze Bitcoin's real-time reactions, the rising gold prices, and the allure of alternative investments amid market uncertainties. Insights into the complexities of the rare earth sector and the implications of U.S. policies also highlight the conversation.
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Gold Accumulation and Treasury Holdings
- Central banks are accumulating gold, possibly due to de-dollarization.
- Individual investors primarily hold long-term U.S. treasuries.
Tariff Confusion and Risk
- Trump's tariff strategy is unclear, causing market uncertainty and a risk premium.
- This uncertainty makes the world's safe asset, U.S. treasuries, act like a risk asset.
Gold's Current Valuation and Future Role
- Gold is currently overbought due to momentum trading but still fairly valued.
- Gold will not reclaim its place as a denominator for financial assets due to issues like fraud and lack of audits.