TFTC: A Bitcoin Podcast #617: How Trump's Tariffs Should Have Worked with Lyn Alden
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May 12, 2025 
Lyn Alden, an investment strategist known for her market insights, joins the conversation to dissect Triffin's dilemma and its impact on global trade. They delve into the complexities of Trump's tariff policies, highlighting both intended and unintended consequences for domestic industries. Alden discusses the evolving dynamics of U.S.-China relations, energy production, and the ramifications for Bitcoin as it gains traction in financial markets. The discussion reveals how tariffs and economic strategies shape wealth distribution and influence market behavior toward assets like Bitcoin.
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Triffin's Dilemma Explained
- The U.S. dollar's reserve currency status forces perpetual trade deficits and industrial base erosion.
- Maintaining global dollar demand benefits America economically but undermines its lower-margin manufacturing sectors.
Trade Deficits Fuel Wealth Gap
- Foreign capital inflows from trade deficits increasingly concentrate in U.S. financial assets.
- This dynamic redistributes economic vibrancy from industrial regions to financial centers, fueling political unrest.
Dollar Demand Defies Pessimism
- The U.S. faces an extremely fragile debt structure with over 20 times leverage against base money.
- This massive, inflexible dollar demand sustains the currency's dominance despite pessimistic predictions of its demise.