The ACID Capitalist Podcast Acid Breath: Any Fool Could Make Money in Gold
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Oct 18, 2025 The discussion dives into the intriguing impact of a government shutdown on markets and the subtle shifts in treasury yields. Gold's surprising rise is explored, raising questions about trust and speculation, while the Sinclair thesis draws connections between US debt and gold pricing. Demographic changes and their effect on Fed policies are uncovered, revealing distorted economic models. Bitcoin is also presented as an alternative hedge as markets prove to be anything but predictable in these tumultuous times.
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Gold Shaped His Career
- Hugh Hendry recounts his early hedge fund career and how gold defined his success and suffering.
- He describes gold's rise from about $300 to today's levels as formative for his life and career.
When Official Data Goes Quiet
- The US government shutdown paused data releases, leaving markets to interpret distortions as data.
- Hendry sees silence in official data as an opportunity to read market whispers and real-world signals.
Regional Banks Reveal Credit Stress
- Regional bank earnings revealed rising provisions and sour auto and credit-card loans, signaling credit-cycle stress beyond 2023.
- Hendry links this to rapid demographic shifts and stretched underwriting standards in consumer credit.