Coffee and a Mike Henrik Zeberg #1228
Oct 8, 2025
Henrik Zeberg, head macro economist at SwissBlock and author of 'The Monetary House of Cards,' dives into the implications of inflation, dollar strength, and the future of crypto. He explores gold's significance compared to silver, predicting its rise through the 2030s. Discussing job losses and social unrest due to economic strain, he critiques the Fed's delayed responses. With thoughts on AI's impact on labor and Bitcoin's vulnerability, he emphasizes the need for a monetary reset while highlighting gold's enduring value.
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Gold Rally Is Front-Running A Bigger Cycle
- Henrik sees the current gold rally as partly front-running a larger cycle tied to a stock-market bubble and monetary shifts.
- He expects a pullback when the dollar strengthens during a bust before a much larger precious-metals bull market resumes.
Pandemic Stimulus Altered Long-Term Price Dynamics
- Zeberg argues post-2020 stimulus created a higher price level that won't simply revert and seeds a multi-decade inflationary regime.
- He still anticipates a near-term bust and lower inflation before that longer-term higher-price regime unfolds.
Expect Pullbacks Before A Much Larger Metals Bull
- Prepare for large swings: expect a strong dollar phase that can cause temporary declines in gold and silver.
- Maintain conviction in precious metals for the long term but expect and plan for intermittent pullbacks.
