The Julia La Roche Show

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, dives deep into the complexity of tariffs, describing them as distractions from America's fading global currency dominance. He discusses worrying trends in consumer credit and forecasts potential defaults in multi-family housing. Whalen also analyzes the bond market's surprising rate cuts and advises investors to seek opportunities amid market volatility. His insights present a compelling picture of the shifting economic landscape.

Jim Rickards, a bestselling author and investment advisor, dives into 'MAGANOMICS,' discussing Trump’s economic strategy involving tariffs and the unique 3-3-3 Plan. He highlights a looming 'time bomb' in the financial market, warns of potential recession risks, and emphasizes the momentum of the current gold rally. Rickards also explores the interplay between tariffs, oil production, and the U.S. economy, while explaining how innovative strategies can help manage national debt and drive growth in uncertain times.

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.

Peter Boockvar, Chief Investment Officer at Bleakley Financial Group, discusses the urgent need for investors to adapt to three major market shifts. He highlights the end of the dominant MAG7 tech trade and warns of reduced government spending creating recession risks. Boockvar points to rising international opportunities, with notable gains in markets like Germany and Hong Kong. He emphasizes the Federal Reserve's diminishing influence in a new inflation landscape, alongside rising copper prices and the challenges faced by U.S. defense and tech sectors.

Jim Bianco, president of Bianco Research, dives into America's K-shaped economy and its sustainability issues. He reveals how the top 10% drives half of retail sales, highlighting growing income disparity. Bianco argues that U.S. debt has become a national security concern and discusses the need for strategic policy shifts. He also touches on the bond market, predicting attractive returns and lower volatility, while suggesting that investment strategies may pivot away from stocks. His insights on tariffs and geopolitical currents add further intrigue.

Lynette Zang, financial analyst and economist, explains why the US dollar is at the end of its life cycle, with only 3 cents of purchasing power remaining from the original dollar. She details how currency collapses follow predictable patterns, with the current system having effectively died in 2008. Zang calculates gold's fundamental value at over $40,000 per ounce based on global debt divided by available gold, and predicts a hyperinflationary depression as the transition mechanism to a new monetary system. She outlines her eight-part preparation strategy focusing on food, water, energy, security, barterability, wealth preservation, community, and shelter, while advocating for sound money with convertible gold backing to force fiscal responsibility. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia Links: https://www.youtube.com/@TheLynetteZanghttps://x.com/TheLynetteZang0:00 Introduction of Lynette Zang 1:22 Big picture view on currency life cycles 3:44 Analysis of pattern recognition in markets 5:55 Discussion of dollar's end game scenario 8:43 Four key functions of money and fiat failures 10:02 Explanation of negative interest rates11:32 Inflation impact and purchasing power decline 13:56 Gold vs dollar performance since 1913 15:10 Economic outlook and debt sustainability 17:24 Compounding interest and credit exhaustion 20:09 Gold-backed currency and fiscal responsibility 21:25 Gold price behavior and performance analysis 23:51 Gold valuation methodology 26:34 Gold revaluation and confidence loss 28:29 Personal asset allocation strategy 30:32 CBDCs and currency transition tactics 34:13 Monetary reset discussion37:04 Hyperinflationary depression outlook 40:19 Preparedness strategies and food security 43:49 Detailed home preparedness approach 48:46 Economic outlook beyond recession 51:06 Eight critical preparation categories 52:57 Central bank gold buying motivations 54:42 Gold standard and sound money advocacy 57:39 Perception management and paradigm shifts 1:01:12 Closing thoughts and contact information

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to The Julia La Roche Show for episode 240 to discuss markets and the state of the economy. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia Whalen explains why market euphoria has faded under Trump's "shock and awe" strategy. Banks face a $3 trillion mortgage securities problem yielding under 3% against 3% funding costs. He notes the FDIC has stopped reporting troubled bank asset totals after 35 years, suggesting numerous insolvent institutions need resolution. Despite these issues, Whalen doesn't forecast a recession, seeing continued growth with isolated credit problems. In commercial real estate, he describes a "silent recession" where banks avoid taking properties, while for residential real estate he predicts price softening, then a rate-cut mini-boom before a major 2028 correction. Whalen also calls Fannie & Freddie stocks a "pump and dump" trade, states gold is "the only form of money that's not debt," and dismisses crypto as "nothing."Links:    Twitter/X: https://twitter.com/rcwhalen    Website: https://www.rcwhalen.com/    The Institutional Risk Analyst: https://www.theinstitutionalriskanalyst.com/   Inflated book (2nd edition): https://www.amazon.com/Inflated-Money-Debt-American-Dream/dp/139428571XStanley Middleman book: https://www.amazon.com/Seeing-Around-Corners-Achieving-Business/dp/B0D5PTSJVC/  0:00 Intro and welcome back Chris Whalen 1:06 Big picture market overview and Trump policy impact 2:49 Stock market as political proxy and market conditions 4:46 Fed policy outlook and potential rate cuts 6:09 Banking sector challenges and mark-to-market issues 8:07 Silicon Valley Bank anniversary and bank issues 11:10 Economic assessment and credit conditions 13:52 Commercial real estate challenges 16:11 Discussion of tariffs and Trump's structural changes 20:13 Debt, government spending, and economic growth 22:18 Investment approach and AI skepticism 24:36 Gold vs cryptocurrency perspective 25:58 Fannie Mae and Freddie Mac 27:29 Housing market conditions and affordability 29:50 Closing thoughts and where to find his work

Michael Howell, CEO of CrossBorder Capital and author of "Capital Wars: The Rise Of Global Liquidity," dissects the current liquidity landscape. He warns of an impending 'air pocket' as hidden stimulus fades, emphasizing the risks from the U.S. Treasury's bill-heavy financing strategy. Howell also discusses the potential for Trump to revalue U.S. gold reserves for a massive fiscal boost, while advocating for caution among investors as 2025 approaches. He suggests a pivot to real assets like gold amid these economic uncertainties.

Jeff Snider, host of Eurodollar University, is an expert on the global monetary system. In this engaging discussion, he argues that the U.S. never truly emerged from the 2020 recession, citing misleading indicators fueled by government interventions. Snider highlights a staggering 5 million job deficit and warns of risks arising from China's banking system. He dissects the disconnect between stock market optimism and weak bond signals, and emphasizes the overlooked complexities of the Eurodollar system affecting global economies.

Larry McDonald, founder of The Bear Traps Report and bestselling author, shares his insights on the economy and markets. He discusses the engineered economic slowdown as the government confronts inflation and massive debt. McDonald highlights how the top 10% of consumers drive 60% of spending and suggests that hard assets like copper may outperform tech stocks during stagflation. He explains the concept of 'financial repression' and its role in managing the staggering $37 trillion debt burden.