Real Vision: Finance & Investing The End of U.S. Dollar Empire? | Ash Bennington & Warren Pies
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Apr 23, 2025 
Warren Pies, founder of 3Fourteen Research, shares his keen insights on the unsettling shifts in the financial markets. He discusses the dramatic selloff of the U.S. dollar, bonds, and equities, while gold rises as a refuge for investors. Warren highlights a significant exit from traditional investments, reflecting deeper economic concerns. The conversation also explores future strategies for navigating market uncertainty and the intriguing dynamics between gold and Bitcoin as potential safe havens amidst volatility.
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Unique US Asset Sell-Off Pattern
- The recent simultaneous sell-off in US Treasury yields, the US dollar, and S&P 500 alongside gold's rally is historically unique.
- This pattern resembles the global financial crisis days but indicates real money selling US dollar assets by foreign developed market investors.
US Equity Market Vulnerability
- Foreign holdings of US equities have grown significantly and make the equity market vulnerable.
- US households and pension funds are already heavily invested in equities, limiting natural buyers if foreign money withdraws.
Strategic Approach to Tariffs
- To address trade issues, set a uniform tariff across global partners and then negotiate specific deals with allies.
- Prioritize targeting problematic countries like China while maintaining good relations with key allies.