In Episode 392 of Hidden Forces, Demetri Kofinas speaks with author, investor, and financial historian Russell Napier, about how to navigate a seminal transition in the global trade and monetary order. This episode aims to provide you with the tools to understand, value, and manage the assets, exposures, and risks in your portfolios and to capitalize on opportunities that come along only once every hundred years.

In the first hour, Demetri and Russell Napier discuss the origins of the non-system that came to shape international trade and finance in the decades after the breakdown of the Bretton Woods international system of fixed exchange rates. They discuss the de-pegging of the RMB from the USD, the closing of the gap between the discount rate and the growth rate in developed economies, and the implications of America’s escalating economic war against China.

In the second hour, which is available to premium subscribers only, Russell Napier and Kofinas focus most of their time on the implications of this breakdown in the international trade and monetary system for investors. They discuss how developed world governments are likely to repress capital, what you want to own in such a world, what you don’t want to own, and how to tell the difference. They also discuss what a new Chinese monetary order might look like, which countries would participate, and how such a system would build off China’s efforts to digitize the Yuan and create a Chinese-built digital payments infrastructure that extends beyond China’s borders as part of the Digital Silk Road initiative. They also discuss the prospects for a strategic Bitcoin fund, the use of stablecoins as an extension of Dollar hegemony, and the fate of the Euro in a world torn between Beijing and Washington.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 11/27/2024