The Julia La Roche Show #245 Axel Merk: Axel Merk: How Trump's Trade Policies Could Disrupt Global Financial Plumbing
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Mar 25, 2025 
In this engaging discussion, Axel Merk, founder and CIO of Merk Investments with over 30 years of investment experience, dives into the implications of Trump’s trade policies on global financial systems. He highlights potential disruptions in capital flows and the fragility of current economic frameworks. Merk also elaborates on gold as a contrarian indicator amidst inflation worries, addressing why there's no such thing as a safe asset today. His investment strategies and insights into stagflation risks provide valuable guidance for navigating volatile markets.
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Executive Policy's Macro Impact
- Executive policy, like Trump's executive orders, is a distinct macro dimension alongside monetary, fiscal, and geopolitical factors.
- These orders, especially concerning trade and tariffs, could significantly alter the global financial system's "plumbing."
Disrupting Financial Flows
- Disrupting global financial flows could weaken the US's "exorbitant privilege" of running deficits at a low cost.
- This disruption might lead to higher funding costs or increased Federal Reserve intervention.
Gold as a Contrarian Indicator
- Gold's performance can be a contrarian indicator, signaling potential market misinterpretations.
- Axel Merk's increased assets under management, tied to gold and mining, suggest the market might be overlooking something.