Macroscopic Podcast

The AI boom is masking serious weakness across the US economy. David Rosenberg sees stagnant employment, falling real incomes, contracting housing and business investment, and a consumer increasingly dependent on stock-market wealth and record credit-card debt. Markets have shifted from pricing Federal Reserve cuts to expecting higher interest rates following the US–Iran war and oil shock. Rosenberg thinks that reset will reverse: inflation should move lower, consumer demand should weaken, the Fed should remain on hold and Treasury yields could fall sharply as recession risk returns. His gold thesis is unchanged. Central banks led by China continue moving re...

Peter Schiff’s central warning is blunt: America’s fiscal position cannot support the US dollar indefinitely. Rising debt costs, persistent inflation and weakening demand for Treasuries could end in a sovereign debt and reserve currency crisis. He argues that Japan could accelerate the reckoning. Higher Bank of Japan rates and a stronger yen may unwind the yen carry trade, forcing sales of US bonds and stocks just as the Federal Reserve faces limited room to respond. Oil, commodities and underinvestment add another layer of stagflation risk. Schiff also addresses the AI capital spending boom, gold and silver’s recent...

Jim Rickards warns that a global economic shutdown may be approaching as the Strait of Hormuz and Red Sea disruptions collide with depleted strategic reserves, rising energy prices and fragile supply chains. In this interview, Rickards explains why he expects a severe US recession, higher inflation and a major escalation in the Iran war. He also shares his outlook for gold, including a possible drop toward $3,600 before an accelerated move to $10,000, and explains why silver could follow gold higher. We also discuss the growing AI debt bubble, circular financing between major technology companies, the risk of defaults, changes coming...

Grant Williams joins Macroscopic to discuss why the 40-year easy money era may be coming to an end and why he is now more focused on protecting wealth than chasing returns. We cover gold and silver, the possibility of a financial reset, China’s gold strategy, changes in Japan and Europe’s economic problems. Grant also explains how investors approaching retirement can protect their purchasing power as the old market rules begin to change. Recorded: 16 July 2026
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In this interview Alexej Jordanov speaks with Michael Oliver, the founder of Momentum Structural Analysis who explains why the U.S. stock market may be completing a long and laborious top, why rising Japanese and U.S. bond yields could force central banks to print aggressively, and why capital is already beginning to rotate into gold, silver, miners and commodities. Michael also explains why the recent precious-metals correction has not damaged the long-term bull market, what could trigger the next major move in silver, and why he believes silver could eventually reach between $300 and $500 per ounce. We also discuss...

In this episode of the Macroscopic Podcast, Alexej Jordanov speaks with Alasdair Macleod about China’s new gold clearing system in Hong Kong, the shift of physical gold and silver from West to East, and why Beijing may be preparing for a future without the U.S. dollar. Macleod explains why China is accumulating gold, silver, copper and other strategic commodities, how the Shanghai Gold Exchange and new vaulting infrastructure could support a yuan-gold settlement system, and why he believes Western paper gold markets like COMEX and London are vulnerable as physical demand moves east. The conversation also covers th...

In this episode of the Macroscopic Podcast, Brent Johnson returns to explain why the dollar system may be entering a new phase. We discuss the rise of stablecoins, the battle between onshore and offshore dollars, the future of the Eurodollar market, and how the U.S. Treasury could use digital dollar rails as a geopolitical weapon. Brent also breaks down why gold can sell off during a crisis, why de-dollarization remains extremely difficult, and why the world may still be trapped inside what he calls the “Dollar Prison.” A deep dive into stablecoins, dollar liquidity, gold, BRICS, the Fed, the...

Rick Rule returns to the Macroscopic Podcast for a timely conversation on gold, silver, copper, oil, platinum, interest rates, and the next phase of the natural resource bull market. After a major correction in precious metals and mining stocks, Rick explains why lower prices may not be bad news for long-term investors and why he believes the “easy money” in resources may be gone, while the “sure money” could still lie ahead. In this episode, we discuss the outlook for gold and silver, the impact of higher U.S. interest rates, the pressure on the Federal Reserve, and why Rick bel...

Is the financial system designed to take your wealth? In this in-depth interview, Alexej Jordanov sits down with Simon Dixon — economist, author of Bank to the Future, and one of the earliest Bitcoin investors — to follow the money behind central banks, gold, the collapsing petrodollar, and the rise of what he calls the Financial Industrial Complex (FIC). From the dot-com crash that wiped out his father's pension to inside stories of stock market manipulation, IPOs, and investment banking, Simon explains how governments, companies and individuals become subordinated to transnational capital — and how gold, silver and Bitcoin let you sit outsid...

Recorded: 3rd of June 2026 Lyn Alden returns to the Macroscopic Podcast where we cover a lot of ground: why sovereign bond yields keep climbing across the G7, what the Strait of Hormuz closure actually means for energy markets and global supply chains, and why Lyn thinks the risk is still underpriced. We also get into gold officially overtaking US Treasuries as the world's top reserve asset — what drove that shift and whether it continues — plus the "gradual print" thesis, stablecoins as dollar infrastructure, and where the AI stock rally goes from here. We close with Lyn's current asset views: Lati...

Francis Hunt aka The Market Sniper returns to break down why silver is the trade of the cycle, his $330/oz price target, and the "Trump Trauma Triangle" squeezing oil, bonds, and gold into a tighter and tighter corner. We cover: - The Trump Trauma Triangle and why it's shrinking - Why silver is the "Porsche Turbo" of this bull market - The $330 silver target still on track - China's silver buying spree and the closing discount window - Why the debt markets are a controlled demolition - Europe's exit taxes, unrealized capital gains, and the war on private property ...

Two of the world's most respected gold experts — Peter Schiff and Jim Rickards — sit down in Amsterdam for a no-holds-barred 2h45m debate on the future of gold, the death of the dollar, and the coming financial reset. They agree on one thing: gold is going dramatically higher. They disagree on almost everything else: hyperinflation vs. deflation, Trump's tariffs, the Fed's relevance, and whether $10,000 gold arrives in 2026 or later. Recorded December 7, 2025 at GoldRepublic's headquarters as part of our 15-year anniversary series "The Future of Gold."

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William White, former Chief Economist at the BIS, returns for a candid conversation on the breaking points of the global monetary system. We discuss the regime change underway at the Fed, why financial repression is already here, the biggest energy shock the world has ever known, and the transatlantic battle over stablecoins versus the digital euro. Bill explains why "banks create money out of nothing," whether AI is the next great malinvestment, what the Mar-a-Lago Plan means for the dollar, and why he believes the endgame ends "not with a bang but a whimper."

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Michael Howell returns to the podcast to break down why the real threat to markets is not just war or recession fears, but a tightening global liquidity cycle. He explains how the Iran shock, rising energy prices, China’s gold buying, and the coming debt refinancing wall are all converging into a powerful macro shift. The discussion covers gold, oil, bonds, the dollar, repo stress, and why markets may be telling a very different story than economists.
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In this interview of the Future of Gold series, Isabella Kaminska explains why stablecoins are a new tool of American power. We discuss whether the US is shifting from republic to empire, why tariffs are really about sovereignty, how the dollar system is defended through geopolitical force, and what all of this means for gold, China, and the future of global finance. A wide-ranging conversation on money, empire, and the next phase of the international order.
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In this Future of Gold interview series, John Butler explains why he believes gold is gradually returning as global money and why gold could reach $100,000/oz. He discusses the failures of the current debt-based monetary system, the growing role of BRICS, and why rising geopolitical tensions and de-dollarization could accelerate gold’s remonetization.  He also explores how a future gold-backed system could work in practice, from trade settlement and central bank reserves to tokenized gold and neutral vault jurisdictions. The conversation ends with Butler’s view that gold may need to be revalued far higher in a future monetary reset...

In this final Future of Gold roundtable from Cape Town, Alexej Jordanov hosts Izabella Kaminska and John Butler on for a discussion that goes deep into some of the most debated and controversial questions in the gold market. The panel explores what Basel III really means for gold, why so many investors misunderstand its role as collateral, and whether gold is truly being elevated inside the financial system or still treated unfairly next to government bonds. From there, the conversation moves into central bank balance sheets, unrealized gains on official gold reserves, and the political implications of revaluing gold...

Alasdair Macleod returns to Macroscopic with a stark warning: the conflict with Iran is not just another geopolitical flashpoint, but a potential catalyst for the endgame of the global fiat currency system. In this conversation, he explains why the real story is not only war or oil, but the chain reaction from energy disruption to higher bond yields, collapsing credit, and a broader monetary crisis. We discuss why Alasdair believes bond markets are now the most important signal to watch, why Japan may be the hidden trigger for a global debt unwind, and why a move above 5% on the...

Francis Hunt on why the global system is entering a debt-fiat breakdown, why private credit may be the next major fault line, and why he believes today’s instability is not random but coordinated. The discussion covers redemption limits in private credit funds, rising bond yields, the long-term implications for the dollar, why stablecoins cannot absorb the scale of sovereign debt issuance, and why gold remains central in a world of currency debasement and growing systemic stress. The episode also explores oil, stagflation, and the parallels Hunt sees between today’s environment and the 1970s.

Brent Johnson joins us in this Future of Gold Series to unpack why stablecoins may become far more than a crypto story. In this conversation, he argues that stablecoins could reinforce U.S. monetary power, reshape global commerce, and even evolve into a geopolitical tool of empire rather than just a new source of Treasury demand and potentially replace the Federal Reserve. We also discuss the future of the dollar system, whether the Fed could gradually lose relevance, why macro and geopolitics now matter more than ever, and how Brent thinks about gold in a world where the dollar...

In this Future of Gold Session from Cape Town, Francis Hunt, Brent Johnson, Whitney Baker, and Michael Every debate the breakdown of the old financial order and the clash between debt, gold, power, and real-world supply chains. The conversation explores deglobalization, empire decline, the dollar’s future, China’s industrial strength, private credit fragility, stablecoins, and whether the next reset will be driven more by markets or by raw geopolitical force. They also dig into the practical side: how to think about gold, jurisdiction, diversification, food, optionality, and community in a world where financial assets alone may not be enou...

In this second session of the Future of Gold series, Brent Johnson, Whitney Baker, Izabella Kaminska and John Butler debate one of the most consequential questions of our time: is the global monetary system on the verge of a historic reset, and what role will gold play in what comes next? The conversation starts with gold’s re-emergence as a monetary anchor, then escalates into a sharp disagreement over whether gold will be officially remonetized, whether the dollar can remain dominant through crisis, and whether China’s gold strategy signals the beginning of a new system. From there, the pane...

In this interview of the Future of Gold series, Whitney Baker describes the fragility of the global financial system and why she believes we are moving closer to a major monetary and market reset. The discussion explores the long-term consequences of debt expansion, money printing, and policy distortion, and why today’s system may be far less stable than it appears on the surface. A major focus is the growing stress in private credit and private debt, where Whitney argues hidden leverage, weak collateral, and redemption pressure are creating serious risks beneath the surface. She explains why this part of...

In this first session of The Future of Gold, Alexej Jordanov hosts Brent Johnson, Whitney Baker, Michael Every, Izabella Kaminska and John Butler on a heated panel exploring the macro endgame of the current monetary order. We explore whether we are nearing the end of the dollar’s dominance, what role stablecoins could play in extending U.S. monetary power, and why gold may be re-emerging as the ultimate neutral reserve asset. We go through late-cycle debt excesses, the decline in the productivity of credit, the shift from technocratic economics to economic statecraft, and the breakdown of the old ru...

Michael Every on the breakdown of the old global order, the return of hard power, and why traditional market thinking may no longer be enough. In this first interview of the Future of Gold series, we explore why geopolitics, energy, military strategy, and capital markets are now deeply intertwined. Michael explains why the so-called rules-based order may be ending, why Europe is increasingly exposed, why markets may be unable to price the world ahead, and why investors need to think beyond the old playbook. We also discuss the US-China struggle, the risk of broader conflict, the fragility of Europe’s...

Rick Rule joins us for a masterclass on natural resource investing: what actually works, what’s hype, and why most investors get wrecked even in bull markets. We cover his core contrarian framework “buy hate, sell love,” why he sold most of his silver and rotated into miners, and how to separate saving (gold) from investing and speculation. Rick also breaks down why gold moved first, why mining equities lag, what royalty/streaming gets right, and why 90% of listed mining companies are non-viable plus the hard reality that many “10-baggers” come with brutal drawdowns. In this interview: • Resource cycles and contrari...

Leading precious-metals analyst (The Gold Observer / Money Metals) Jan Nieuwenhuijs unpacks the hidden mechanics behind the global shift in the monetary system: China’s gold strategy, Europe’s long-running “gold equalization,” and how non-dollar settlement infrastructure could change reserve assets and pricing power.  We cover why China accelerated buying after 2022, the case that real PBoC reserves exceed official numbers, how gold moves between East and West, gold tokenization and future settlement rails (mBridge), and why gold revaluation keeps returning as a serious policy option — including an imminent over night repricing of gold at $8,000/oz.

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Louis-Vincent Gave argues we’re in a synchronized global reflation. Fiscal deficits are expanding, central banks are accommodating, yield curves are steepening, and commodities are breaking out. Financials, metals, emerging markets and Latin American debt are responding accordingly. The key risk? Not the Federal Reserve tightening—but energy prices or a bond market revolt. On China, he makes a blunt case: the US tech war forced Beijing to de-risk and upgrade. The result is a manufacturing leapfrog, a structural equity bull market, and a gradual push toward renminbi internationalization. He explains why the Hong Kong dollar peg still holds, why...

Matthew Piepenburg argues that we are living through a slow but historic turning point marked by rising bond yields, collapsing trust in institutions, and the gradual erosion of U.S. dollar dominance. We discuss Japan as the canary in the coal mine, why central banks are trapped between saving their bond markets or their currencies, and why the next Fed pivot is likely to mean more liquidity and further debasement. Matthew explains why this gold bull market is different from the past, why silver could see extreme volatility, and why central banks are quietly accumulating gold ahead of a...

Lynette Zang joins me for a deep dive into the end stages of the fiat monetary system. Drawing on decades of studying currency life cycles, she explains why the dollar’s purchasing power is effectively approaching zero, why gold and silver are not “rising” but currencies are failing, and why we are entering a historic monetary regime shift. We discuss gold’s true fundamental value, the collapse of Wall Street price discovery, the role of debt and derivatives, stablecoins, CBDCs, and what history tells us about how monetary systems always end. Lynette also shares why confidence, not numbers, is the real...

Legendary contrarian Hugh Hendry returns to tear apart consensus macro thinking. We dive into price regime shifts, the collapse of old valuation frameworks, and why silver, Japan, and volatility matter far more than inflation narratives or fiat-collapse hysteria. Hugh explains why the yen is experiencing the biggest currency crash in 50 years, why the Nikkei could 5x, why silver could reach $200, and why the dollar is misunderstood as a long-volatility asset.

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In part 2 of this interview with Arno Wellens, we dive deep into the digital euro, CBDCs, and digital identity, exposing what’s really behind the push for a cashless Europe. We discuss negative interest rates, the removal of cash, capital controls, and how monetary policy is shifting toward surveillance and control. Is the digital euro about convenience — or about power, coercion, and the future of democracy in Europe? Recording date: 6th November 2025
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Is the Eurozone heading toward a new credit crisis? In this first part, Arno Wellens points on the structural fragilities inside the eurozone that are pushing Europe toward another systemic crisis. We discuss why France and Italy are trapped in a debt spiral, how the ECB is forced to repress interest rates despite persistent inflation, and why financial markets are starting to price sovereign risk again, even as central banks intervene. At the core of the problem lies a dangerous combination of: • Chronic budget deficits • Demographic collapse and unfunded pension liabilities • Artificially suppressed bond spreads • An ECB running out of effec...

Alasdair MacLeod returns on the Macroscopic Podcast to unpack what may be the most explosive macro setup of the decade: a global bond market break, a looming equity crash and the accelerating endgame of the fiat currency era. We also dive into the historic surge in precious metals, particularly silver and platinum, and why this time the rally may not be a speculative blow-off, but instead a structural shortage event driven by physical delivery and industrial demand. Alasdair shares why this setup could become the biggest silver squeeze in history, how China is reshaping the physical silver market and...

In this in-depth conversation, with Matthew Piepenburg, Henrik Zeberg and Franics Hunt we walk through the final sequence of a stressed financial system: where liquidity disappears first, how policy makers respond when their usual tools stop working, and why markets often look strongest right before the break. We discuss: • How late-cycle liquidity actually unwinds • The final “risk-on” moves that confuse most investors • Why bonds, currencies, and equities don’t fail at the same time • What history tells us about previous systemic resets • How to think in sequences, not headlines
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The global monetary system is more fragile than ever. Dr. Marc Faber explains why debt, money printing, and geopolitics are pushing the world toward a major financial and political rupture. We discuss gold as real money, central bank gold accumulation, bubbles in equities, the risks of World War, and how to position your wealth to lose the least when the crash comes. Topics include: monetary system collapse, Gold vs stocks, bonds & crypto, Central banks, BRICS & de-dollarisation, Inflation, bubbles & asset protection, War risk & geopolitical instability.
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In this episode Ronnie Stoeferle, we dive deep into the current gold bull market, the breakout in silver and mining stocks, and why the gold–silver ratio could signal explosive upside ahead. Ronnie explains where we are in the cycle, how central banks are reshaping the monetary system, and why gold, silver, and real assets are back at center stage. If gold reaches ambitious targets, silver could dramatically outperform in the years ahead.

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In this episode, Grant Williams joins Alexej Jordanov to break down the real endgame unfolding beneath markets: the loss of trust in fiat money, the quiet move back toward gold, and the growing monetary divide between East and West. We discuss the future of the dollar, the viability of a new gold standard, and what a genuine reset might look like for investors, central banks, and sovereign debt markets. Grant shares hard-earned historical context, the dangers hiding inside the Treasury market, and why confidence—not rates—is now the key variable.

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In this special episode, Jim Rickards shares with Alexej Jordanov some of his most urgent warnings yet. We dive into the hidden systemic risks building inside the stablecoin market, why Tether could trigger a global liquidity freeze, and how a run on Treasury bills could ignite a full-scale monetary crisis. Rickards also breaks down the real purpose behind the Mar-A-Lago Accord, the weaponization of finance, Russia’s gold strategy, and why both gold and silver may be entering a historic repricing cycle. This conversation connects the dots between geopolitics, the derivatives market, the Treasury system, and the future of th...

Matthew Piepenburg breaks down the forces driving today’s fragile financial system — from the Fed’s century-old power structure to the $600T derivatives machine few dare to discuss. We dig into gold’s role in the coming reset, the rise of stablecoins as a hidden demand tool for U.S. Treasuries, and why central banks are quietly repositioning for a new monetary order.
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