Inflation, Recession, and Declining US Hegemony

Alasdair Macleod, Michael Oliver and Chen Lin return. Last week Austrian economist Daniel Lacalle assured listeners that the dollar will remain as the world’s reserve currency for at least the next 5 to 10 years. Alasdair may disagree. In his December 22nd article, he states, “2023 will see the consequences of Saudi Arabia ending the petrodollar. Energy exporters are feeling their way towards new commercial arrangements in a bid to replace yesterday’s dollar. There’s talk of a new Asian trade settlement currency. But we can expect oil exports to be offset by inward investment, particularly between Saudi Arabia, the GCC, and China. The most obvious surplus emerging in 2023 is of internationally held dollars, whose use-value is set to drop away leaving it as an empty shell. It amounts to a perfect storm for the dollar, and all those who sail with it. Those of us who live long enough to look back on these years are likely to find them to have been pivotal for both currencies and global alliances. They will likely mark the end of western supremacy and the emergence of a new, Asian economic domination.” If Alasdair is right that doesn’t sound like the dollar will retain its hegemony for the next 5 to 10 years. Listen to how he responds to Dr. Lacalle’s viewpoint. As always, we were interested to hear what markets Chen believes will be ripe for the picking in 2023 and how Michael views the dollar, gold, silver and US Treasuries.

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Alasdair Macleod has a background as a stockbroker, banker and economist. He is a Senior Fellow at the GoldMoney Foundation and Head of Research at Goldmoney.  His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. His weekly articles written for GoldMoney are posted on his blog at https://www.goldmoney.com/research/goldmoney-insights Because of his deep insights into underlying market dynamics, Alasdair is one of the most frequent guests on Turning Hard Times into Good Times.

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism. 

Chen Lin had been a doctoral candidate in aeronautical engineering at Princeton. However, Chen found his investment strategies were so profitable that he put his Ph.D. on the back burner to devote full time to private investing and writing a newsletter titled “What is Chen Buying? What is Chen Selling?” Chen’s track record has been phenomenal!  In one account we tracked, in which he used no leverage, he was able to grow $5,411 starting in 2002 to over $2.2 million by the end of 2012.  You can visit his website at http://chenpicks.com

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.