Are Gold and Bitcoin Signaling the Return of Money Printing? | Michael Howell

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 18 March 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 357 of Hidden Forces, Demetri Kofinas speaks with the CEO of CrossBorder Capital, Michael Howell, about the run-up in gold and bitcoin prices and whether this signals the return of "money printing" driven by overwhelming government debt and deficit payments.

Michael Howell has had the most accurate economic and financial forecasts of any analyst Kofinas has spoken with in the last several years. Demetri asked him back on the podcast to help explain why risk assets continue to outperform despite higher interest rates and what new all-time highs in gold and Bitcoin signal about global liquidity and investor confidence in the integrity of fiat currencies as reliable stores of value amid skyrocketing government debt and deficits.

In the first hour, Michael breaks down the indicators he relies on to make his forecasts and why he expects economic growth and inflation to reaccelerate this year and into 2025. In the second hour, Howell forecasts which assets and asset classes he thinks will outperform, the direction of interest rates, the steepening of the yield curve, and how the expiration of the bank-term funding program (BTFP), the draw-down in the reverse repo facility (RRP), and a temporary decline in liquidity from tax payments could create buying opportunities for investors over the next several months.

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Episode Recorded on 03/13/2024

Transcript

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0:00.0	What's up everybody? My name is Demetra Kaffinus and you're listening to Hidden Forces, a
0:06.0	podcast that inspires investors, entrepreneurs and everyday citizens to challenge consensus narratives and learn how to think critically
0:15.0	about the systems of power shaping our world.
0:18.5	My guest in this week's episode of Hidden Forces is Michael Howell, the CEO of Cross-border Capital, a London-based independent research
0:26.0	and investment company that provides asset allocation and capital markets advice to institutional
0:31.8	investors. Of all the analysts and forecasters I've
0:35.2	spoken with in the last several years, Michael has proven to be the most accurate in his
0:39.8	predictions for how the economy and financial markets would perform in
0:44.0	2023 and 2024. I asked him back on the podcast to help us understand why
0:49.9	risk assets have continued to perform so well in the last two years, despite higher
0:54.9	interest rates by the Fed, and what these recent all-time highs in gold and Bitcoin prices
0:59.8	signal about global liquidity, risk appetite, and investor confidence in the integrity of the dollar
1:06.1	and other fiat currencies as reliable stores of value in the face of alarming debt levels
1:11.6	that have previously only been associated with wartime economies.
1:16.1	In the first hour we break down the indicators Michael relies on to make his forecasts and
1:21.1	why he expects economic growth and inflation to re-accelerate this year and into 2025.
1:27.0	In the second hour, Michael provides his forecasts for which assets and asset classes he thinks will outperform during this time.
1:34.8	The direction of interest rates, the steepening of the yield curve, and how the expiration
1:39.1	of the Bank Term Funding Program, the drawdown in the reverse repo facility, and a temporary decline in liquidity
1:45.0	from tax payments could create buying opportunities for investors over the next several months.
1:50.4	If you want access to that part of the conversation and you're not already subscribed to Hidden Forces,
1:55.0	you can join our premium feed and listen to the second hour of today's episode by going to Hidden Forces.
	...

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