The Wolf Of All Streets Bitcoin To $92K, Gold Breaks Out, Dollar COLLAPSING | Macro Monday
Apr 21, 2025
Join finance expert Dave Weisberger, commodity analyst Mike McGlone, and macro strategist James Lavish as they dive into the current economic turmoil. They explore the skyrocketing Bitcoin value, gold's all-time highs, and the collapsing dollar. The trio discusses the warning signs of a potential recession, including empty restaurants, and critiques the administration’s economic claims. They also compare Bitcoin and gold, weighing their merits as safe-haven investments while examining the impact of monetary policy on market dynamics.
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Market Denial and Flight to Safety
- Markets show denial as earnings and GDP estimates trend downward globally.
- Rising bond spreads and political uncertainty fuel flight to safety in gold, not treasuries.
Miami's Empty Restaurants Anecdote
- Scott Melker shared that Miami restaurants had empty tables and easy reservations, unusual for the city.
- This anecdote highlights weakened consumer activity despite good weather.
Bitcoin's Correlation Complexity
- Bitcoin and gold often display varying correlation with risk assets depending on the timeframe.
- Long-term, Bitcoin is likely more correlated with gold than traditional risk assets.