Luke Gromen: We Are Facing "The Mother of All Crises" (And It’s Physical)

In this episode of Monetary Matters, Jack Farley interviews Luke Gromen about the complex interplay between US economic policy, the bond market, and competition with China, particularly in the realm of AI. Gromen argues that the US faces a difficult choice between maintaining the real value of its bond market and reshoring its industrial base to compete with China, suggesting that current policies may be prioritizing the former at the expense of long-term competitiveness. He explores potential economic restructuring under a Trump/Besson plan, highlighting the shift from global capital benefiting at the expense of US citizens to a system where the US and its citizens benefit, but at the cost of too-big-to-fail banks and long-term Treasury holders. The conversation also covers the role of tariffs, yield curve control, and the potential for a gold-backed currency, as well as a bearish outlook on Bitcoin.