Luke Gromen: Why you Should Prepare for a MASSIVE Economic Shift

[@Bankless]

Want early access, bonus episodes and a fully ad-free experience? Sign up to become a Bankless Citizen: bankless.cc/GoAdFree

[@issenvan1050]

Thought he “canceled” recession.

[@steve5976]

I’m familiar with Luke . Your host is very good . Great questions and professionally done . I’ll be checking out the rest of your videos . I subscribed too

[@JamesHuang-sp3ek]

Can y’all share your portfolio going into the month of June related to Crypto/ Forex investment. I’d love to trade mine with an expert.

[@JoahnyBeatriceGarcia]

I have never seen a trader as open and transparent as Coach Hilder is with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.

[@Keanureeves-e2z]

I just looked up her name online. she is licensed with credible certificates and has an amazing track record.

[@darnellcapriccioso]

"Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

[@Aaronduckstein49]

I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown

[@tatianastarcic]

I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.

[@ChadRoberts-x6i]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@tatianastarcic]

Annette Marie Holt is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@EmilyMoore-n7n]

Wow, her track record looks really good from what I found online.i just messaged her, let's see how it goes. Thanks for the info

[@investorbettor505]

Luke Gromen is one of the more well spoken advocates of hard money on the planet. A great voice for the industry!

[@CeeRiplayis]

Most Americans find it hard to retire comfortably amid economy crisis. Some have close to nothing going into retirement, my question is, do I pay off mortgage as a near-retiree, or spread my money in stocks for cashflow? I'd love to afford my lifestyle after retirement.

[@tedchan3833]

Once u have paid off your mortgage.. Will u have homeowners tax or health insurance to pay as a retiree? I did wonder about my retirement myself .. The mortgage will stop haunting u for payment deadlines... And u can work for income to pay for small bills after retirement... Those are my thoughts

[@monicalee9659]

*You just don't get it, Universal Basic Income, NWO. So no you won't be living your lavish lifestyle. It's unfortunate so many people don't see the times we're in and how bad it will be.*

[@n2skcmo]

Pay off the house, turn it into an asset.

[@Atlas10-qg1dx]

Don’t give these people your money. Scammers

[@kathrynj.hernandez8425]

The education many of us needed. Luke is a phenom communicator. Thanks, Bankless for hitting the 🎯again!

[@mickygarcia4251]

Luke Gromen has by far the best understanding of the energy-ratio problem. Wild investment into energy extraction did not create more oil. It pulled the same amount of oil out of the ground at an increasing rate, but the declining wells are losing production faster than we can increase it, leading to a plateau and a sharp drop in output. The world is becoming aware of it, so they're choosing to trade a commodity for a commodity, and we're so far over our skis as to be comical. The EROEI (Energy Return on Energy Investment) of oil is falling. We need negative real rates to solve our debt issue, but it won't solve it, because it sets up the next cycle... with increasing costs. People go to gold when they're worried... and the world is crapping its pants right now.

[@KoDeMondo]

Now?? It's 50 years of war everywhere!!! And that is why craptos and shitcoin can't survive..

[@mickygarcia4251]

The reason why it's oil is because the energy density of oil is unmatched by any other energy source. How much wood would you need to burn in order to match the energy contained in a barrel of oil? It's equivalent to 3 years of human manual labor. The energy density comes from millions of years of stored sunlight. It's created at a very specific depth in the earth, because when it's over-cooked, you get natural gas. When it's under cooked, you get sludge, and the main source of oil comes from fields that we've been pumping for over 80 years.

[@5kribbles]

Isn't it at a specific depth because there was only a finite period in Earths history when dead plant matter was being deposited in the ground but the bacteria which breaks it down to the soil we have today hadn't evolved yet.

[@nobodynever7884]

ahem, coal and U235 would like a word with you.

[@mickygarcia4251]

@@5kribbles The rotation of the earths crust breaks open pockets which escape into the atmosphere. Dead ocean organisms at the surface get pulled under to the correct depth, but if the caprock is broken, the formed gas will have been long gone. Look at a map. All the oil bearing regions are deserts. The cold regions have tar sands or the like. Newer regions bogs produce coal. It all gets churned over time, but the point is that, although we'll have oil forever because of geology, it won't always be near the hot spots, that cook it at the right temperature. See 'Twilight in the Desert' by Matt Simmons. He was a banker for the oil companies.

[@mickygarcia4251]

@@nobodynever7884 And the word would be "Scale". How fast could we reproduce the world's economy at the current level with U235? How much investment would it take to rebuild the entire energy infrastructure, train technicians, put engineers to work to arrive at where we are now with oil. Decades? I mean, you can't just pull Uranium out of the ground and get it producing energy without a shit ton of investment. The oil infrastructure is here. It's costs have been amortized; but either we continue with that infrastructure, then we can't go electric because of the resource problem. 8lbs of silver in every electric car. The Chinese can outcompete us because of their battery technology. They won the electric car race, which means that if we wish to utilize U235, then we'd need so much investment, that the costs would eradicate U235s energy return in say 20 years just to power the car fleet we had in the 1970s. Oil is here. The investment is too large for any net gain for decades, and considering our debt, who'd lend it to us? Interest rates would have to be astronomical, and you'd need tons of oil to even pull it off.

[@tracywatt9069]

Mass has much higher energy density than oil and gas. Nuclear fission power plants are the bridge to fusion energy.

[@danielthompson3882]

this is one of Luke G ‘s best interviews … trust me I have watched them all 🙏

[@leroyjones6170]

I agree

[@msmith155]

I'd like to get around to watching them all someday 😅 Even in his older interviews his points still generally stand. Luke is the GOAT.

[@ymsg1577]

15 minutes in and he already dropped tons of knowledge if your really paying attention. Thank yal!!

[@andbeyondd]

Opinions on the market diverge; some claim overvaluation due to rapid gains, while others cite strong economic fundamentals justifying high valuations. Raises concern for my $600K equities going 8% up and 20% down. Should i hold on or sell off my positions and hold cash?.

[@SaintYvess]

In fact, markets have incorrectly priced in such a pivot six times over the last two years, according to Deutsche Bank, which sounded cautious about this seventh time. Still showing us why pointers from market experts are essential.

[@hullbruce]

Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1M in returns on investments.

[@SlParkerlee]

That's incredible! What did you invest in? I'm really interested in this, because I'm in a similar position at the moment. more info needed please

[@hullbruce]

’Melissa Jean Taligdan’ is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@SlParkerlee]

Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call

[@Dantursi1]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@Derekhoffman312]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@Aarrenrhonda3]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@Pconradsmith]

This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.

[@Aarrenrhonda3]

Annette Christine Conte is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@Pconradsmith]

Thank you for sharing, I must say, Amber appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.

[@gavazzfromoz]

Once you have pushed your car in the gas lines of the 70’s you understand money and energy lol.

[@junkscience6397]

Most people alive on earth today weren't even alive in the 1970s...FYI.

[@divertiti]

That's why it's incredibly dumb to build an entire country on cars instead of having good public transit and density like actually civilized countries

[@qtrhors1]

So most people alive today were born after 1980? lol

[@tuckerbugeater]

@@junkscience6397 People in their own time can't objectively evaluate themselves.

[@GigiEmbrechts]

You may not have been alive in the 70’s but you should listen because you’re about to experience all of this in just a few years. Not sure people today because not many have experienced real trouble will be able or equipt to handle it, you hold more debt than any other generations, you don’t know how to cut back. The snake will soon bit you because you refuse to look behind.

[@mickygarcia4251]

It gets more expensive because the first pick of apples in a grove comes off the ground. The next round comes off the low branches. The round after that requires ladders, and the top apples require a lift. Oil under pressure comes spewing from the ground, but as the level falls, you have to pump energy into the field in order to draw it out. Soon, you're drawing oil from thousands of feet down and, finally, you build oil platforms on the ocean and it catches on fire and burns in the middle of the Gulf of Mexico. At each stage of the extraction, it takes more and more energy to draw what was formerly cheap. In economics, we call this diminishing marginal returns.

[@davisutton1]

So, you've never picked apples it would seem. Earlier picks are color picks and the best color is around the outer edges of the tree, and at the top. Do that pick correctly and the remaining fruit colors up better, making the second and third picks more prolific.

[@KoDeMondo]

Or shrinking ROI.. It cost energy to get energy. And soon the energy to spend to get energy out of the ground will be not worth it...

[@KoDeMondo]

Same for mining this concept works well

[@stolenjunk]

So, the dollar is backed with human labor.

[@soothingrelaxationandmedit68]

Good point.. the market has been crazy lately, a few surprises here and there.. with all the global happenings taking place I think it’s safe to say that a severe global recession is looming..

[@soothingrelaxationandmedit68]

And let's not forget how the global economy plays into all of this. Economic instability, inflation, and market fluctuations can further complicate matters and add to people's financial worries.

[@benjamineprg4249]

the problem is that most don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high in these challenging conditions.

[@benjamineprg4249]

No doubt, making smart plans and setting up diversified investment portfolios is quite essential.

[@Sanchyfab]

the strategies for diversification into other commodities are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skills and knowledge

[@Sanchyfab]

It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.

[@privateuploads-geo2625]

David Webb calls it "Security Entitlement"' or "securitization Entitlement", where, as I understand it, legally the UCC in all 50 states has gradually been changed over time so that most financial assets or financed assets are legally owned or titled to a secured creditor you may not know of, whereas you, the alleged purchaser of the asset, stock, or security, only have the right to use the asset in question. If a financial crises ensues, the legal owner can take physical possession of your stock or other financial asset to stay whole.

[@Stray_side]

I remember listening to Luke a few years ago and his emphasis on the backbone to everything being energy helped me massively in simplifying what moves I should make. His 25% /25% /25% /25% portfolio outline was also another huge takeaway. Only 30 seconds in, greatly looking forward to what is spoken in this one. Luke is the man.

[@PatrickLloyd-]

You cannot cut your way out of recession you've got to invest your way out of recession and economic downturn, the Conservative party are in the dark ages on policy they've got to think again. My primary concern is how to maximize my savings/retirement fund of about £170k which has been sitting duck since forever with zero to no gains.

[@PhilipDunk]

A strategy to protect against inflation is through the U.S stock market, especially the S&P500 & various ETFs. Investors must know where to put their money and how to distribute it in order to protect it against inflation while still making a profit, especially during a recession.

[@Nernst96]

The truth is that people are finally waking up to the fact that our systems are breaking down in thousands of different ways all around us. Personally, the financial market seems like the only way to go with my long-term horizon (accumulated about £557,000 in earnings since May 2021), but if you don't have that time luck, it's a tough market out there down almost nowhere feels safe!

[@JefferyDuns]

I've known I've wanted to start investing for a few months but just haven't been brave enough to start due to the market so far since mid last year. I have 60k i want to transfer into an s&s isa but its hard to bite the bullet and do it. £557k is a huge milestone , Please whats your strategy ? i will love to have an insight.

[@Nernst96]

I'm being aided by an advisor, i don’t have any special strategy. Amber Dawn Brummit is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@JefferyDuns]

She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.

[@mc-kz8zn]

You need to have David Rogers Webb on your pod. It's SHOCKING... the story he has to tell. Brings new meaning to the "You will (err...already) own nothing and be happy" campaign.

[@benitabussell5053]

The current economy is unnecessarily tougher, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@A_francis]

Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

[@RickWatson-xu6gw]

Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

[@benitabussell5053]

Please can you leave the info of your investment advisor here? I'm in dire need for one.

[@RickWatson-xu6gw]

*Sharon Lynne Hart* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@HoodRichCaptal21]

just buy btc

[@justmyopinion9883]

Thank you for sharing this educational video. I could listen to Luke Gromen for hours. He explains complex economic issues so that anyone can understand them.

[@nexusfg]

This is all assuming the robots, the energy and material availability to build them, run them, and operate them, is cheaper and more efficient than humans. We have had a lot of automation in the last 20 years, but cost of living has gone up 3 to 5 times in that time frame. If things have become more efficient, why are prices so high? Because the profits and means of production have been centralized in the hands of a few corporations and governments. Unless productivity is decentralized, unless the people people learn how to be self productive (both in making goods and services and having children, reproductive), unless the ability to produce goods and services returns to the masses of people, the wealth (the product of efficiency) will continue to go into the hands of the few.

[@Curbalnk]

From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.

[@greekbarrios]

We share common goal, making sure you are ready for your later years is very important. I'd suggest you consider financial advisory.

[@blaquopaque]

@@greekbarriosYou're right, I and a few Neighbors in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew by close to 30% in the last quarter.

[@kansasmile]

@blaquopaque I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@blaquopaque]

I've experimented with a few over the past years, but I've stuck with the popularly ‘’Jennifer Leigh Hickman” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@kansasmile]

Thank you for the lead, searched Jennifer by her full name and at once spotted her consulting page, she seems highly professional having over 12 years of experience. amazing!

[@ElainEmail-m7q]

June 9 2024 was the ending of the 50-years of PetroDollar agreement of Saudi Arabia and the US. The next few years will be more exciting than any Hollywood movies or any TV reality shows for sure.

[@stan3028]

well I'm an automation/robotic engineer and you need a lot of natural resources, industrial knowledge to produce and maintain robots.. in most cases robots are great only for simple and repetitive tasks and only in economies where the labor cost is very high..

[@charlesdidonato5478]

Luke and Lynn Alden are the only real analysts I trust. 👍

[@investorbettor505]

FYI the author of the book Luke referenced created a documentary that can be found on KZbin by searching “The Great Taking - Documentary” I watched it after watching this episode and it was scary good!

[@rasmusdahl1859]

Really good interview. Luke is a very interesting mind, and you guys get the best out of him. No one can predict the future. But watching this interview and taking its message seriously, is a good first step for anyone.

[@whitewing9963]

Simply brilliant and coherent analysis from an extremely knowledgeable guest!

[@doctoruttley]

Just subbed. I like how you guys actually listen to your guest and not just push talking points. The conversation flows naturally. Looking forward to seeing you guys grow! 👌🏻😎👌🏻

[@sethbracken]

Big props to you guys for brining up charts and Twitter feeds etc up *so fast* when a guest references them. Nobody does that at even a D- level which makes you guys shine so much more.

[@WhackedValor]

Great discussion with Luke. My first time here and I’m now a subscriber. Glad I found you guys.

[@Taxlawyertv]

This guy was super clear in his explanations. Better than any economics class.

[@scottdorsey8220]

Based on the Great Taking, why bother with equities or any 'asset' if they are already taken? Seems to make sense to stock up on consumables you'll need to weather the BIG storm that's coming our way.

[@Tracey66]

Vast quantities of MREs. 😊

[@x3haloed]

I don't know if I buy this, but I'm open to it if someone can help me understand. I think it's more accurate to say that wages represent productivity over time, rather than simply energy. When an employer pays an employee a wage, they are purchasing a certain level of productivity from the employee for a specific duration of time. Economic output requires raw materials and productivity. Productivity includes energy but also the machines required to apply the energy. I agree that productivity is not possible without energy, and as we replace human productivity with machine productivity, the machine cost goes down, leaving energy as the primary factor. Metal and silicon can achieve more productivity at lower TCO than a human body. I dunno. Seems to me that the base layer of the economy is productivity, which is an evolving mixture of materials, and energy. You need both. You can't buy a bag of sugar (human energy) or a barrel of oil and expect economic output to just materialize out of thin air. The energy needs to be directed towards some kind of productive output.

[@bruceaulabaugh]

Classical Economics has an equation: productivity = land+labor+capital with a technology multiplier of sorts. Non-labor energy fits in the 'labor' category and non-land materials fit in the 'land' category. You could use any/all of these base layer productivity inputs as comparative denominators instead of the currency of the day. The utility of these comparisons is to measure nominal values in a real, 'currency deflated', manner.

[@chriswalth]

Agree with you. There are many countries with ample energy sources without becoming even close to an empire. And on a side note: humans can survive longer than 30 days without food.

[@KoDeMondo]

Well at least on the last 50 productivity had been good only and thanks to debt not to oil... Ours is a debt driven economy

[@divertiti]

But human energy is ultimately just energy. To produce human productivity, you need the energy to grow, process, and distribute food, all the energy to create infrastructure and daily materials like transportation and houses. Everything that facilitates human productivity just comes down to pure energy.

[@x3haloed]

@@divertiti You have a good point, but I think it's a little too reductive. It's like saying, "to produce spaghetti, you need water." While that's true, you also need noodles, sauce, and a pot. Similarly, to produce productivity, you need energy, but you also need machines. I'm using the word "machine" to cover biological machines like humans and animals as well. So I'm using the word "productivity" to mean "applied energy." To tie this back to my original comment, when an employer pays you a wage, they are renting your body, intelligence, and energy at a certain level of performance at an hourly rate. So while energy is a very important part of the economic base layer, I think it's only half of the equation. The base layer of the economy is applied energy. Energy is a consumable good, while the machines used to apply the energy are durable goods. I wonder if this is the crux of difference in our opinions. It sounds to me like you're saying that we have all these machines around, and it's energy that moves them. We need to keep producing and selling energy to animate the machines and make the economy move. Again, while that's true, there are a ton of durable goods that need to be produced to put all that energy to work. They go hand-in-hand. It's not like there's a fixed supply of machines in the world. They just cycle in and out on a longer timeframe than energy does. Through this lens, I think you could roughly break the economy down into short-term and long-term. The short-term economy is driven primarily by consumable energy supply and demand, while the long-term economy is driven more by machine supply and demand. They're still intertwined, however.

[@xrpchick8150]

One of the BEST conversations I’ve listened too. Learned so much! TY

[@KoDeMondo]

Yep I learn that CRAPTO are crappy

[@ofs4654]

Bankless, this is a superior interview. How? It is the pacing, clarity, intelligence and even the optimistic swing at the end that works for me. Im running fir the subscribe button.

[@GeronimoBTC]

Wish you had not cut Luke off when he was talking about the great taking

[@doug849]

Suggest you get a free pdf of it off the internet. It is very illuminating and very important to understand what the elite have been doing over many years to take over your assets

[@neocitadel]

WHy does energy matter so much?!?! Is that a serious question. - Maybe... because it is EVERYTHING!!!! Money is stored energy. Bitcoin is stored energy. Food. Electrictiy. Oil & Gas. It is all energy. We are energy. Humans are batteries. Energetic units. People are enegy. More people more production, more work done. More growth. IT IS ALL ENERGY

[@erikkaareson6493]

No that is a misconception. Money is like energy in many ways. Not stored anything. Money the universal option or universial contract. Energy is the universal commodity or universal work multiplier, not a social contract. The money to energy trading pair is sort ofsquare because it is two equallyperfect economic factors traded against eachother. If energy was money the global economy would be extremely unstable and jam up pretty fast. Also if we all think monetary savings is stored goods we will be disappointed. It is only a universal social contract and isn't worth more in the future than the futures abillity to produce or whe abillity to deliver. A social contract can be created out of nothing if needed and if trust or sympathi is there. The trust in the ledger must exist allready. Energy can't be willed in to existence. And energy needs a contract to be able to be lended out. So energy is on the other side of money like work and commodities. Energy

[@WikiTicky]

Bitcoin stored energy? More like a receipt for spent energy! If Bitcoin has to pay for energy, then it's no different than the dollar.

[@neocitadel]

When you work... you use energy. And you get given money. Therefore... money is stored energy. It is not hard concept to understand. Money is stored energy. Simple.

[@neocitadel]

Some people get a better deal than others and we call this efficiency. But money allows energy to be stored and sent over vast distances. Tell me a use of money that is not related to energy use? You can't. Money is energy.

[@erikkaareson6493]

@@neocitadel Good man I value your oppinion and I might be the one that is wrong here. Bu her is the argument for why I think Energy is a perfect universal commodity and a multiplier of work but that money is in some aspects like energy in the way that it is perfect and universal at what it is there to do, but not the same and must be on the other side of the transaction: Money is not a perfect store of value. No money can ever be that. It do store value by being trusted and universal as a ledger or unit that every other valuble thing or favour is costantly messured against. It is in nature a true social construct (Unlike gender). To retain value society must retain production capacity, retain good function and trust. The mony in it self only have the trading history/price discovery that makes it semi-stable. It makes preforming work and selling and byeing things for other much less costly. That is it's main function. Not to be a perfect super long term store of value. For that we need usefull things and production capacity. And globally it is important that the unit of exchangi is not also the most important factor in production. Gold function well for this because. It makes the global economy sort of self regulating. As Adam Smith explain I think. But if energy was used it would soon concentrate in on country and the rest would shut down and it would jam up. It would be inherently unstable by design. So no energy is not, should not and can not be money. Energy is the most important factor in the economy on the other side of every transaction. That is the insight. Energy blindness is a real problem. But mixing up money and energy is a mental short circuit. I think it commes from the concept of entropy. Because money like energy do follow natural laws much like thermodynamics. But it is in a parralell but separate relm. And not the same thing. Thermodynamics is more universal than we might have thought. But we must not automatically think that two things that share some properties are the same and have the same function.

[@dan2304]

No, currencies are virtual representations of energy and commodities. Debt is committing energy and commodities from the future at unknown supply or cost. Both fossil fuels and commodities are facing increasing cost of supply as reserves decline. Supply will meet the demand that has the ability to pay. The ability to pay is becoming increasingly challenging.

[@MikeStillUK]

Incredible interview. Great questions, and Luke was fantastic as always.

[@Rogcljon]

Great interview. Luke presents his ideas and information better and better with each recounting. Every time i hear him speak i learn and understand more and see how and why the world/economies move and integrate now and in the past. Thanks everyone 👍

[@confetticow]

Bless Luke's heart for having the grace and patience to interact with the Brainless crew

[@crypto-logisch]

14:22 The Way he speaks about Energy and Money - I immediately was reminded on Gigi‘s explanation why PoW on Bitcoin matters.

[@KoDeMondo]

What?? Bitcoin what?? The nothing you mean... No Nothing is worth nothing to me.

[@Seolfor007]

CL, have you read Lynn Alden's book? She goes over POW in detail, phenomenal segment and I'm not even into crypto! Can wholly recommend it.

[@yogajitsu]

Amazing guest! And I really appreciate that you guys let him talk and ask great questions.

[@ionagibbons9906]

I really learnt a lot about oil dollars and economic history and the position of gold historically and today. So well explained and makes sense of what has happened to the world economically in my life time. I think the comment that low wages and middle income earners have and continue to be the props to create confidence in government to bank bail outs but over time a population that sees more of the curtain pulled back will rethink their relationship to commodity, to work, salary in order to protect their health. It’s clear money for a worker does not buy you enough health. Enough health to work but not enough to live. Aging populations and AI coming online will accelerate the rerooting of thinking about what an individual’s human capital is to themselves. Wealth production in terms of what is healthy life style not based on commodity alone is often a smoke screen or false promise. Particularly when you hear more stories about people getting fatal heart attacks 3 years after retirement. Reevaluating what our relationship to ourselves to our bodies to our human wealth and navigating this in an amongst the tectonic economic plate shifts is a deep exploration of searching for choices and making them knowingly. Maybe we will start to see more examples of how to live to live rather than work to live.

[@benschaffer7112]

This was an absolute Masterclass by Luke. Easily one of my favorite experts to listen to. Great interview!

[@jasons7297]

I am watching this for the third time, sheesh , this was awesome , no fluff , thank you.

[@AlexOgnenskiy]

1:10:56 majority of stablecoins are backed by "commercial papper" and bonds, so it might have impact on crypto and exchanges too. I wounder in case of such events would they keep the 1:1 peg from the yeild profits or accept the haircut.

[@mikerinaldi7170]

It's short term paper. 30 day

[@wtf_usa5597]

This guy us a genius.. Seriously. So glad I found this channel. Keep up the great work!! 🙏

[@ivory1031]

Interesting: As of March 2024, some of the entities with the largest short interest in crypto stocks were: MicroStrategy: $5.52 billion Coinbase: $3.46 billion Marathon Digital: $764 million Riot Platforms: $353 million

[@anthonygargano1861]

That’s called Hedging

[@KoDeMondo]

😂😂Just as a bunch of craptos

[@stanleymcomber4844]

The answer actually is was given to us by Alvin Weinberg, thorium nuclear reactors. With thorium reactors we will have freedom from oil dependence. Which brings us to into the front line the actions of oil / military industrial complex, and why we have pushed nuclear into the closet……..

[@oneeleven9832]

The only thing i disagree with Luke on is the justice & law system..it’s falling apart, corrupt & definitely not the best in the world..ill add the Government is lawless.

[@kotenoklelu3471]

I was appalled to know that it deteriorated so much in New York. Woke police officers is something

[@KenJones-e5d]

Fascinating discussion and I concur with his conclusions but don't believe his logic is as universal as suggested...Gomen suggests energy is the basis of all money. But as he talks about it, continually refers to barrels of oil as the measure of energy. I believe he is correct in identifying barrels of oil for the time period he has evaluated, ie., late 1960s to the present but incorrect when identifying energy. During this period, oil has rate limited the economy. If Gomen had done the same analysis in the 1950s, he would have used tons of steel as the basis of all money because steel was the rate limiting commodity at that time. He would have argued control of steel production was the basis of empires going back to the Romans. Now let me conjecture...As the cost of producing energy drops dramatically, energy distribution becomes increasingly important. This means the materials required to distribute energy will become increasingly important. And what commodities are required to distribute energy? Copper for high tension lines and Lithium for batteries. If he does the same discussion in 30 years, I suspect he would once more rely on a metal but it would be copper not steel. He might even go as far as saying access to copper has always been the basis of empires going back to the bronze age with his argument. If you read this far, thanks.

[@msmith155]

Luke is great. He's like the only guy who talks about what he talks about.

[@MacroAnarchy]

Luke is the goat 👏

[@gregfridholm2136]

LUKE: 1:17:55 What did you personally do about that, regarding your personal portfolio? (edit: Why Oil?) 28:31 Because liquid energy (oil) currently enables the most frictionless global/local distribution system, that is, ease of transport to the the final Physical Use endpoint.

[@SeekingJUICYalpha]

Best bankless show so far. Luke is a gem!

[@MajorDrama1]

Great Info delivered via Great interplay team! Really hope you can do a sequel some time 🙂

[@neocitadel]

Good interview. Great guest.

[@michaelwiebeck3]

I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300,000, yielding almost no gains for quite some time.

[@Rachadrian]

Numerous opportunities exist to achieve substantial profits at present, but executing high-volume and nearly flawless trades requires the expertise of real-time professionals with an ISDA Agreement. This agreement allows investors to participate in sophisticated trades, exclusive to seasoned individuals, and unavailable to amateurs. Attempting to be a high-stakes trader without an ISDA is akin to trying to win the Indy 500 riding a llama.

[@Aarrenrhonda3]

I'm sure the idea of an invstment-Adviser might sound controversial to a few, but a new study by Motley-fool found out that demand for Financial-Advisers sky-rocketed by over 42% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 580k within 16-months from an initially stagnant Portf0lio worth 85k.

[@Pconradsmith]

Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?

[@Aarrenrhonda3]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Amber Dawn Brummit ” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@Pconradsmith]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@jayjenkins6021]

Love your channel and appreciate your quality guests.

[@RobWilliams007]

Luke, you’re always one of my faves but this was an awesome interview. Thank you.

[@Guest-g2q]

This is a masterclass. Luke is a legend. Great interview.

[@wilfhigginson465]

“Does the president know this?” 😂😂 Ya I’m sure when he’s staggering around looking for someone to change his diaper he’s also coming up with genius macro solutions.

[@lennybriscoe6133]

Trump wears the diaper and staggers around verbally inside delusions of treason.

[@damienhauser6946]

This episode was great I learned a lot. One of the best !!!!

[@KoDeMondo]

😂I hope you understand now that crypto are crap!

[@lucasrohr2556]

Super interesting conversation, thank you guys!

[@GuyIncognito764]

Close, but not quite right. Debt is a promise to perform future productivity, not energy. Productivity has to date been closely linked to total energy consumption so Luke has conflated energy and productivity here. The problem is if our productivity per unit energy consumed multiplied by energy consumed doesn't cover our debt obligations. If available energy drops faster than the gain of that ratio (which I fear it will), then we are all in big trouble. Good conversation!

[@paulginsberg6942]

Another brilliant presentation by Luke.

[@graceamsterdam5404]

1/3 down the video and I appreciate it much already! Thank you gentlemen. .

[@Seawithinyou]

Great insight for those who truly don’t understand our economic near future crisis to come Luke This is why he was so well heard on Nate Gagens The Great Simplication podcast Also another two great researcher guests were Petroleum geologist Art Berman and Professor Simon Michaux on Green Energy Blindness 🧐😇💖

[@neocitadel]

David's face realising at 17 mins that Proof of Work is an expression of this energy calculation that underpins everything,.

[@MikeWoot65]

So now Btc massive energy use (and exponentially higher if it was our default currency) is not a bug, but a feature! loll desperate ways to confirm your own bags. Btc can't even contain a stablecoin. only a matter of time before ppl realize these things

[@dr9299]

I dug a hole in a field once. It’s a proof of work, but yielded nothing but a hole.

[@BasslineHeavy]

Fascinating stuff, love listening to Luke 👍

[@wanasong5611]

Luke used the term 'ROLL OVER' several times in this Interview which reminded me of a Movie called 'ROLLOVER' ( you can probably find it out here on KZbin) that EVERYONE here should watch. 😉

[@5kribbles]

FT just posted an article about how the IEA predicts about 8 million barrels per day surplus of oil production by 2030 as poducers invest in maximising output while the most populous and energy hungry countries are likely to experience peak demand before 2030.

[@Ofelas1]

Energy is also understood by BRICS, and they are increasingly cornering all commodities, setting up exchanges to price all, and deciding if currencies (FIAT) can buy these!

[@jaytan915]

I never get tired of listening to LG, thanks. His perspective and vision sounds like both horror story and hope for the future.

[@patheticprepper4496]

This guy is awesome, great interview

[@keha3271]

The more anything is regulated by government or bureaucracy, the more expensive it is going to be, ie; Automobiles, Trucking, Energy, Healthcare, Housing, Agriculture, Telecommunications, Insurance, etc... The less there is governmental and bureaucracy in any industry, the cheaper the price will be; for the most part. 1❤

[@chuckmorse981]

Very thought provoking and well run interview.

[@ecopsych101]

The interviewer really want Luke to say the basis of the new empires will be bitcoin🤣🤣

[@fangzification]

I disagree with Lumen regarding oil. China is going to hit peak oil demand within the next few years and thus causing another set of deflation re: oil.

[@kurtjensen5798]

he referred to rethinkx, so assuming he knows that the expectation is another 70% drop in solar panels pricing.. and the expectation that we will be covered by solar + batteries.. maybe copper is a restraint, but I don't think most people think there is restraint in energy in 5-10 years.

[@liammateo287]

This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!

[@Ashermicheal6341]

Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to kiana rachel

[@Lucas75332]

I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading.

[@liammateo287]

How can someone know a professional broker when legit once are hard to find this days

[@Ashermicheal6341]

She's recognized as 'Mrs Kiana rachel . One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@DivineChibueze-od8py]

I agree. Based on personal experience working with an investment advisor, I currently have $1m in a well diversified portfolio, that has experienced exponential growth. It is not about having money to invest in stocks,but also you need to be knowledgeable, persistent, and have strong hands to back it up.

[@athena_the_hun1097]

Look into how they did this around 1933. They completely confiscated the gold and then revalued it from around 20 to 35$ per ounce of gold. Of course they can do this and will do it again.

[@iamhudsdent2759]

How can the US Treasury reprice gold, when it is an international commodity generated by countries like China? Would the treasury buy huge amounts by printing money, or by manipulating the price through futures contracts?

[@markblankenship6233]

Clarification: if you don’t own your equities, and they have already been Rajendra at the time we purchase them, and the risk is growing, should we be more Warren buffet-like and wait for the loss of equities and bonds due to failed exchanges, then buy in?

[@russbaez7544]

Oil storage as huge buckets is limited, you can not store unlimited amounts of oil at the moment. But you can store unlimited amounts of digital dollars in computer memory. But Fed can create dollars out of thin air. Number of Bitcoins is limited, but if Internet goes down Bitcoin is useless.

[@ck35478]

This has given me a lot to think about. I appreciate it 🙏🏻

[@Paul-dorsetuk]

Now that's what i call a macro viewpoint, brilliant!

[@DegenTok]

I'd love to have a beer with Luke

[@stevehenderson5471]

Usability, safety, energy in to energy out, and who has it and can get it done.

[@markhogan3417]

Everything is an expression of energy, there is no money only currency. Current is a way of measuring flow along with Banks.

[@johnsordillo6338]

"We need them to hold bonds while the value decreases in energy terms" Yes, this is why stablecoins is priority in congress. This is exactly what they want private stablecoins to provide.

[@reggiebishop5398]

Oweing money is or can be ok but it depends on who you owe the money to and that's where the chaos can be

[@benoitlaporte5854]

BIG THANK YOU from a french men from Quebec

[@mianataliana]

Kraken still need bank right? Otherwise how we can get our euro or usd for our daily purchase.

[@wuldntuliktonoptb6861]

Technology without energy is a sculpture, energy without technology is a fire.

[@vremerman]

Deflation is AI eliminating jobs. 100 workers competing for 10 jobs will drive wages down.

[@lazybearish]

Yes, U.S pension funds have been “incentivized” to buy treasuries. And I believe the day is coming when those funds will be fully bailed in, forced to give digital treasury allotments to pensioners as their retirement.

[@darinthesecularspiritualist]

Luke seems sweet but it seems strange he does not scream that silver is best trade on our markets. This would make big banks upset and we wouldn't want that

[@kathrynj.hernandez8425]

BOOM!!! THIS!!!!!! Few know that it's the rising price of physical silver that threatens the western central banks because of the hedge funds/US Treasury concentrated short positions needed to keep the price low. Silver is key--not gold (look here; not over there) which the banks already own. Price of silver has been artificially suppressed for 170 years...and with demand increasing, a shortage is occurring. Silver's gonna do something to change our economy because all manipulations end.