Dollar Doomerism & Why Things Are Better Than You Think | Michael Nicoletos

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 11 September 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 325 of Hidden Forces, Demetri Kofinas speaks with Michael Nicoletos, the founder and CEO of DeFi Advisors, an independent investment advisory firm specializing in macro and digital assets.

Michael and Demetri spend the first twenty minutes discussing Michael’s biography, including his time living and working in the United States. What that experience taught him about the country’s capacity for change and why its embrace of failure is critical to America’s continual economic, cultural, and political renewal is also part of that conversation.

The rest of the first hour is spent discussing something that Michael and Demetri often talk about in private: Dollar Doomerism—the perennial anxiety, particularly prevalent in American circles and among American media pundits that the United States Dollar is on the precipice of some kind of collapse or devaluation. The sources of this doomerism, its merits, and what proponents of this view seem to get consistently wrong is what they spend the rest of the first hour discussing. This also leads to a conversation about the Euro and a potential BRICS currency, as well as a discussion about the long-term direction for interest rates and inflation.

In the second hour, Michael and Demetri focus mainly on geopolitics, including the national security challenges facing European member states over the war in Ukraine, as well as US preparations for a war over Taiwan, and how both of these dynamics are impacting and being impacted by a resurgence in American isolationism. The two also discuss the state of China’s economy, the need to rebalance the power dynamic between labor and capital, and why there are reasons to be hopeful about the future.

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Episode Recorded on 09/05/2023

Transcript

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0:00.0	What's up everybody? My name is Demetra Caffeinas and you're listening to Hidden Forces,
0:06.0	a podcast that inspires investors, entrepreneurs and everyday citizens to challenge consensus narratives,
0:13.6	and to learn how to think critically about the systems of power shaping our world.
0:18.0	My guest in this episode of Hidden Forces is Michael Nicoletos, the founder and CEO of DeFi Advisors,
0:25.2	an independent investment advisory firm specializing in macro and digital assets.
0:30.8	Michael and I spend the first 20 minutes or so of our conversation,
0:34.0	discussing his personal biography, including his time living and working in the United States,
0:39.1	and what that experience taught him about America's capacity to change,
0:42.9	and why its embrace of failure is critical to its continual economic, cultural and political renewal.
0:49.9	We spend the rest of the first hour discussing something that Michael and I talk often about
0:54.9	in private. Dollar Dumourism, the perennial anxiety, particularly prevalent in American
1:00.7	circles and among American media pundits, that the United States dollar is on the precipice
1:05.7	of some kind of collapse or devaluation. The sources of this Dumourism, its merits,
1:11.6	and what proponents of this view seem to get consistently wrong, is what we spend most of the
1:16.2	rest of the first hour discussing. This also leads us to a conversation about the euro and a
1:21.1	potential BRICS currency, as well as a discussion about the long-term direction for interest rates
1:26.5	and inflation. Our conversation in the second hour focuses mainly on geopolitics,
1:32.4	including the national security challenges facing European member states over the war in Ukraine,
1:37.6	as well as US preparations for a war over Taiwan, and how both of these dynamics are impacting
1:43.7	and being impacted by a resurgence in American isolationism. We also discuss the state of China's
1:49.9	economy, the need to rebalance the power dynamic between labor and capital, and why there are
1:55.2	reasons to be hopeful about the future. This was another excellent in-person conversation about
	...

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