Trevor Noren, managing director at 13D Global Research and Strategy, discusses how the concentration of wealth and corporate power is shaping his macro perspective. He sees the past three decades of industry consolidation as root causes of the problems that the American economy currently faces: stagnant growth, increasing wealth inequality, and a QEdependent stock market. Noren predicts that this trend of consolidation will reverse, and he sees significant investment potential in gold, small cap stocks, and companies leading the decentralization movement. Filmed September 26, 2019 in New York.
Cryptocurrency Index Fund: Top 20 Crypocurrencies
CRYPTO20 provides a way to track the performance of the crypto markets as a whole by holding a single crypto asset. Index funds have consistently beaten the average managed fund since their inception.
RAD 30: Top 30 excluding Bitcoin and Etherium
The Rad 30 Crypto Composite (RAD 30) tracks thirty crypto assets across 10 sectors, similar to how the S&P 500 and the NASDAQ Composite track stocks. The RAD 30 presents a diverse view of decentralization — the RAD 30 strays away from Bitcoin, Ethereum, and other large crypto assets (in terms of market cap).
The sectors included in the RAD 30 are the sectors that are the most prone to decentralization and have the largest market opportunities. The crypto assets included in the RAD 30 are the best positioned crypto assets in each sector.
Is Bitcoin a Safe Haven?
Peter Schiff VS Brent Johnson: The Future Of The US Dollar
In this video from VRIC 2020 Peter Schiff and Brent Johnson debate about the future of the fiat money specifically US Dollar and the gold standard.
Peter Schiff believes the US market has never been as overvalued and over priced. And one of the major warning signs is we blew up the private equity market. This decades dot.com bubble is the private equity market destruction. This destruction will lead to the decline of the US dollar and eventually a remonetization of gold as the dollar loses its place as the Worlds Reserve Currency.
Peter Schiff’s theory is that Central Bankers around the world are under the false impression that a cheap currency is a good thing because it allows them to export more to the United States. However, the US is broke and can never pay for what it’s buying.
And since America is the largest debtor nation in the world and have more debt than other major countries combined and manufacturing is such a small portion of the US economy, there is a complete dependency on foreign goods.
And Relative to Wealth producing components of GDP no other country on earth has as much debt as the United States.
Add in contingency guarantees such as bank accounts, pensions, brokerage accounts that the US government is committed to funding despite the lack of money to pay for these things.
Combine all of this together and there is the potential for a currency crisis the likes the world has never seen. Schiff thinks this because there is an unrealistic level of belief for the US Dollar.
Schiff thinks the dollar will perform worse than other fiat currencies around the world and that we’re going to remonetize gold as the central asset.
Brent Johnson ultimately believes the same ending but with a different theory on how it will all go down.
Brent’s theory is that MMT is that the government will spend more money into existence and the central banks will want to control of the monetary policy. And that the dollar will go up and people will continue borrowing and buying which will ultimately lead to a massive currency crisis.
Every country in the world has over leveraged their economy and Brent Johnson believes that Central Bankers in every country are making the same bad bets across the world.
Brent Johnson makes note of The Plaza accord and that it was put in place in 1986 to artificially weaken the dollar against the other worlds Fiats because it was too strong. He argues that the dollar will be the the worlds central currency until fiat fails.
Schiff’s theory is “Money Is Nothing” and the value is the production and real goods that a country has. Money just lets you divvy up whats been produced. The wealth of the nation is the productive capacity of that nation.
Schiff also believes that in order to have a strong country you need:
*Factories
*Skilled Workers
*ProductionWhich are things that the US severely lacks and will pay a massive price for the over dependence on countries that do have these things.
The Canadian economy will benefit from a resource and precious metals boom that will help the Canadian dollar.
Schiff on inflation: Inflation initially pushes up asset prices before consumer prices.
Brent believes that digital currencies could be the future of money and likely will be implemented by most countries in the near future.
Brent and Peter agree that The Gold Standard will happen after a general loss of confidence in fiat currency.
Schiff explains MMT Modern Monetary Theory as the practice of taking Quantitative easing to the extreme. Printing Money without creating prosperity. Democrats will rely on the central bank to fund their spending agenda.
Repo rates have spiked to 9% – the market wants rates higher but Americans have so much debt and American can’t afford to service the debt. And international banks have been accessing the FED repo market to a greater extent than the US domestic markets. Repo rates spiking shows a demand for funding from the US dollars.
Americans have so much debt that the US government has to keep rates low other
Marin Katusa postulates that the highest risk lies in the credit market with debt in triple BBB