US Economic Policies of Past 40 Yrs Intentionally Being ‘Trashed,’ Impact on Gold & BTC: Luke Gromen

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Luke Gromen, founder and president of Forest for the Trees (FFTT), and author of 'The Mr. X Interviews.' Gromen says the U.S. dollar is getting repriced, not replaced, while assets like gold and Bitcoin see massive gains. Gromen explains why intentionally weakening the U.S. dollar is the new economic policy and delves into how gold replaces the U.S. Treasuries as the global reserve asset.
Follow Michelle Makori on X: @MichelleMakori ( / michellemakori )
Follow Kitco News on X: @KitcoNewsNOW ( / kitconewsnow )
Follow Luke Gromen on X: @LukeGromen ( / lukegromen )
#gold #Bitcoin #dollar #Treasuries #Fed
This video is brought to you by Swan Bitcoin
Swan Bitcoin IRA - Start Saving Now 👉 Swan.com/retire
00:00 Coming Up
01:05 U.S. Debt, Dollar & Treasury Bonds
06:51 The Mechanics of Dollar Liquidity and Treasury Market Dynamics
11:08 Fed's Rate Hikes & Their Impact on Inflation
16:20 The Shift in Global Reserve Assets: Gold Over U.S. Treasuries
28:44 De-Dollarization Trends
38:35 Dollar's Real Value & Mechanics of Repricing the Dollar
41:26 USD & New Economic Policy Direction
49:15 Gold's Outlook
57:06 Bitcoin's Place in the Future Financial System
01:09:29 Investment Strategies
__________________________________________________________________
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[@stasatodorovic3681]

I absolutely LOVE how you asked him over and over again, Michelle, on why the dollar would still remain reserve currency. Finally a real journalist that thinks with her own head! Great job 👍

[@homeydontplaydat8387]

People just refuse to look at all the Empires throughout history who haven’t been able to control spending and debase the currency to nothing

[@Ourdirtytwo]

Yep! That’s why “schools” abjure any sort of education

[@idontcare9797]

" it's different this time "

[@100BlaQRaok.el_1]

I log the informational and am not sure about a better economy. Everyone loves good narrativeand education can be hynotic​ to the audience@@idontcare9797

[@jonschlottig9584]

It's so obvious - yet my dumbass has spent most of my adult life chasing depreciating greenbacks... the irony 😂. Guns ammo food water and power - all us spoiled softies are in for a rude awakening

[@SuperEye2eye]

@@jonschlottig9584 have to be a bit cautious Prior generations of my family have been prepping for the “end times” for literally the last 80 years always saying we are very close to collapse yet it never seems to come We might be 10-20 years away yet

[@gregoryswanson1536]

Michelle is the best at drilling her guests to provide a straight answer. I love her devil's advocate approach. She always chips away at both sides of the story. Thanks, Michelle! Love your show.

[@photopro100]

I always enjoy Michelle does that.

[@willnitschke]

Easy on the eye too

[@aleaiactaest8354]

Agree. Good interview and good follow up questions and asking for clarifications. Kudos!

[@cjoe1950]

Mmmm....michelle....drilling...me LiKE.

[@chrisdafos8365]

@@aleaiactaest8354 - Like Peter Schiff said, she's just the Moderator.

[@harpoen7358]

When the great out of the box thinker speaks we just listen. Interviews with Luke Gromen are always very good especially when very good questions are asked.

[@bonearete5419]

Mr Luke Gromen is one of the most intelligent guests you have on Kitco. Brilliant man. Thank you for getting him.

[@rockscrambler6700]

Luke pours out information like a fire hydrant. Some of her questions he's already answered.

[@RideReport]

Luke Please buy a microphone. It’s been 4 years

[@privateuploads-geo2625]

Luke sounds like he is a brilliant analyst of so many market factors. Michelle your questions were brilliant as well. This is a great interview explaining why stocks, gold, and Bitcoin are all rising together.

[@MM-ji5je]

Michelle is one fantastic interviewer.

[@Web3WondersUS]

Yes, she is GREAT!

[@ktownkryptoking]

....and easy on the eyes😍🥰

[@Seven-Seven-77]

Too bad she has a voice that cuts concrete - before I seen her I thought I was listing to an 90 year old man!

[@meggallucci5300]

Yes, she knows how to run and control an interview, something that many, even the majority of postmasters do not.

[@mikerinaldi7170]

​@@Seven-Seven-77 I don't hear that

[@klauskarpfen9039]

I wish Michelle would have asked Luke about how the WEF's slogan "by 2030 you'll own nothing and you will be happy" fits into Luke's outlook. How to hedge against asset confiscation in a CBDC world where your legal tender is tied to your digital ID and is controlled by the government?

[@mikerinaldi7170]

One of the many reasons to allocate to Bitcoin and self custody. Also, the reason there is proposed legislation to make self custody illegal.

[@MAX5WM]

Wow, the guest nailed it!

[@bradleyjordan5365]

Apart from the bitcoin stuff.

[@siddg1463]

@@bradleyjordan5365bitcoin has performed better than any other asset class since its inception -by a longshot. Bitcoin Can NOT be diluted; fiat, bonds and other crypto can & will…even gold can be diluted. There is no other asset that has a finite supply

[@mikerinaldi7170]

​@@bradleyjordan5365 Why ?

[@sirusvirus9650]

​​@@bradleyjordan5365Gold & Bitcoin tell the same story of Fiat. One moves slowly and is Stable and one is fast and volatile. They both can add diversity to a portfolio with an investor's Preferential Bias. There is enough Fiat being printed for both to have a place at the table 😂

[@JimJamJuicy]

@@bradleyjordan5365it’s succeeded, you’re late, cope

[@joeharvie8362]

Excellent time stamps on the subjects discussed! Brilliant interview by two intelligent individuals!

[@ASC63Funky]

Bond market is dead because the the currency is dying China has played a great game USA Greed has become its down fall

[@habyalexandru2265]

Get curency out of the Banks Buy gold and silver

[@JimJamJuicy]

Buy neither. Only Bitcoin

[@Gold_Nuts]

@@JimJamJuicybuy all 3

[@lonnieprior]

We need a resource built economy All we are is a bunch of consumers of a bunch of junk that you have to replace every 6 months

[@chocobro77]

Damn right...more of a meritocracy needed...to keep us soaked in debt and FIATD is abysmal

[@rafalsabat5408]

Luke is the man

[@frankiesmart1113]

Once again. Michelle brings it to the table. She is one of the few I trust. She does not mince words. 👍

[@klauskarpfen9039]

Michelle is the only great interviewer left on Kitco after David Lin's departure.

[@williameberle4250]

Michelle is one of the great interviewers out there. Period.

[@benschaffer7112]

Amazing interview Michelle! I’m a huge fan of Luke Gromen to begin with, and your expert questioning brought out the best out of him.

[@vicep322]

To preserve our independence we must not let our rulers load us with perpetual debt!!! Tomas jefferson

[@unaffiliated_x9279]

Too late

[@vicep322]

@@unaffiliated_x9279 your right, but when we all fall together, thats when i hope we all get together, and do something

[@simonlo9956]

Oops

[@SouthernFryd]

And that's why our education system hasn't taught the Constitution or much about our Founders. In fact, you ask the average kid brought up in todays Education system, our founders were evil... because of slavery. In fact, using the original sin of slavery to hide govt excess today...is the true evil.

[@srg6532]

The "rate the dollar is dying" has recently significantly increased.

[@ryanmarosy2940]

Michelle is hot and smart! Great interview!

[@beerkegaard]

For real, she’s a baddie

[@zimmerd36]

Amen!! She's the kind of hot 🔥 that makes me feel funny 😂🤣

[@artvandelay7236]

Reshoring is not possible in any real sense without infrastructure and logistics. Serious, huge projects. I just don't see the US being able to do it anytime soon.

[@tz6516]

New world order. Robotics are cheaper than third-world labor. Reshoring manufacturing will become cost effective. USA security vs international insecurity tips-the-scale towards reshoring.

[@Vikingpoints]

It is already happening.

[@georgemavrides3434]

@@Vikingpoints Not fast enough...even if it does happen, the US cannot become an net exporter as Asian manufacturing is leaps and bounds ahead (both technologically and in volumes) and closer to the consumer markets (logistically effective). Remember that 2/3 of the world is in Asia and is dependent on Chinese manufacturing (also starting to run on currency swaps). Energy and commodities alone being re-priced is enough to put a halt on usd dreams.

[@Vikingpoints]

@@georgemavrides3434 the US exports are increasing as Chinas is decreasing. The US can absolutely build new state of the art facilities if it wants to. Much has moved to Mexico. You forget that it was US companies doing a lot of the manufacturing in China. They can and have been moving it. It doesn’t all have to come back to the US. But a lot of it is. We own all of the tech, since we own the chips that it is all built on. So yeah, there is that.

[@stuartmoore6310]

We don't have to be 100% self-sufficient as far as manufacturing goes but 50% would be a good starting point. We will never outproduce Asia. The United States and its politicians are going to have to reconcile the fact that we're no longer the Big Dog. There's no shame in being the second or third most powerful economy on the planet.

[@wm.scottpappert9869]

Wow ... very good interview Michelle with Gromen who is recognized as one of the best. And remarkable insights and info. Fascinating times we live in .. !

[@charlesdidonato5478]

Thanks Michelle for having one of my two favorite analysts on. Love Luke and Lynn Alden!😊

[@pt3426]

Great information from Luke Gromen. You do a wonderful job of setting the tone and framing your guests with the appropriate questions at the right time, Love to follow your KZbin channel Thank you, Michelle

[@luciferdevil4725]

Buy more gold and silver

[@VenomLD50Med]

That and BRICs!

[@fluffyhoundog]

Buy Bitcoin

[@Hizenbird]

Buy XRP. Bitcoin was the distraction.

[@Thomasbonner752]

Many thanks for the video. Everybody needs financial freedom. Let this be a thread for some more simple, reproducible approach from anyone who have build wealth. I have saved up $190k to get started.

[@richiesteve1250]

At the end of the day, there's no one particular way of bridging that gap. but starting to save early and investing in the financial markets can never go wrong. if I were to start over in 2024 with less than $50k I would still use the portfolio management play-book.

[@kathleenmorgan6271]

think you could suggest any professional/advisors i can get in touch with? i'm in dire need of proper portfolio allocation

[@richiesteve1250]

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 KAY WRIGHT ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Scottlong267]

I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@lorraineanderson5679]

One of the ways to decrease inflation is to increase production / raise G.D.P. While you guys are busy noting capital flows and best case scenarios for onshoring manufacturing, Have you noticed that NO ONE else is talking about increasing productivity In America. Nobody is building companies that build things: Cars refrigerators waffle irons clothing! Nothing. The problem really isn't how to fix Inflation But how to get everyone else to jump on board and row the boat.

[@pasqualeperri5661]

can't even make sufficient armaments

[@kenpeters9807]

You are 1000% right. Why is no one talking about this. In the last 30+ years the only president that even tried to address this, and started the ball rolling, was Donald Trump.

[@stopper90004]

He talked about this towards the end when he said Yellen stated that this was the new economic policy. He also addressed productivity increases when he discussed the rapid adoption of AI and robots/automation... The risk of that happening too fast is another GFC due to massive layoffs creating tax income collapse and unemployment benefit expense increases. In other words, a too rapid increase in productivity along with re-on-shoring could cause a short term fiscal crisis.

[@foilrider2000]

​@stoppper90004 producing oil and food is all I see

[@mikerinaldi7170]

​@@kenpeters9807 It would be nice to have an actual plan

[@stuartmckenzie8095]

Luke talks a lot of sense, good interview.

[@MC-re5sh]

Absolutely brilliant!! One of the best cumulative interviews that covers politics, economics and human emotions regarding recent events I’ve seen in a very very long time.

[@frankieb7867]

*Everything* is BEING Re-priced.

[@johnz2144]

One of the best presentations I have seen. Good questions and great information!

[@RobEGR19]

You continue to outdo yourself, Michelle. Outstanding guest and spot on questions! I also love how you control the flow of the interview, which is very impressive for over an hour.

[@gwendolynbryant6278]

Excellent analysis and commentary.

[@markusfrey4256]

Wow! Luke Gromen opens the curtain!!! Best interview I've seen so far!

[@carloscelis7765]

One of your best interviews Michelle. Excelllent insights form Luke.

[@ernestcomeaux4166]

This is really brilliant!

[@elvingon9591]

Great Macro outlook. Thank you very much!

[@ricardoewok994]

Good interview!

[@leecasford8275]

Great questioning and knowledge Michelle.

[@wvhaugen]

"We are so highly leveraged our wiggle room is small." True that.

[@kimmurphy1683]

One of your best interviews!

[@patrickahearn3256]

Awesome interview Michelle, So much there I'm totally exhausted.

[@rcstout6475]

Thank you, Michelle. Outstanding interview.

[@mikechow7261]

this guy is so insightful and straightforward

[@darylroughley2807]

Very interesting Michelle and Luke, food for thought, thankyou.

[@littlebitmckee8234]

I follow him. Great guest

[@Web3WondersUS]

Michelle always brings her A game!🎉 Great interview 👏

[@shanewatkins1350]

A VERY Good Interview

[@lindamckenzie6885]

Great interview gives me a lot to think about

[@pam2719]

Great video , thank you

[@utubian]

I am impressed with Michelle's precious assets !

[@richardlesh393]

X2❤😂🎉

[@ronmiller7248]

Simp

[@waihekefish]

Great insights, thank you both!

[@dmr87]

Luke the goat

[@123Goldhunter11]

That means Greatest of All Time to non basketball fans.

[@mikerinaldi7170]

​@@123Goldhunter11 I'm happy he's not an actual goat.

[@TheWealthOfNationz]

Luke is a big boy. One could say "he eats like a goat" 😂

[@rifleman42051]

Luke is right! Great Interview!

[@jennielam8522]

Thank you for this awesome interview!

[@Joe-gx4ru]

Wow, intelligent and beautiful. Really enjoyed this video. Thank you!

[@ALANGREENSPAN420]

🚨SILENT🚨DEPRESSION🚨

[@RobertojavierSilvaharth-ub3pz]

Michell is becoming the best interviewer I follow, and I follow most of them... To top things off, she is definitely the most beautiful!!

[@shanewatkins1350]

So funny Michelle started stuttering & licking her lips at Lucke's presentation of gold at 19 X

[@doctordodo3742]

Mr. Gromen, brilliant analysis. Thank you. Michelle, thank you also for asking good questions, and letting your guest develop his arguments and answer your questions cogently.

[@raymondreed5990]

30:11 Perfect example of why I watch- asking the important questions.

[@silver_rocket18]

Awesome interview, Michelle! Very well done!!

[@ddunfey]

Good angle on important info. Thanks !

[@Stocks-vu1zz]

Excellent interview!!

[@ddprepper5227]

Excellent report 💯

[@scraig9120]

thank you, this was fantastic

[@abcschoolofenglish6982]

Michelle is excellent. Way to go Luke!

[@RockHudrock]

Michelle asks great questions and she lets the guest talk. 👏🏼And she’s a straight-up DIME! 🫶🏼🥰

[@jadaosteen1898]

And the truth comes out

[@Yourtimeisnow-GG]

Thanks for the video

[@jaycolucci5989]

Fantastic and very informative interview! Guest really understands the business!

[@georgechimento498]

This was enlightening.❤

[@nafasm]

Thank You

[@captaintimcurry1713]

I love Michelle! She's my favorite interviewer because, even if she understands and agrees with the guest, she always asks the tough questions. She always plays devil's advocate and always tries to get both sides of the argument!

[@SELKCOMM]

Love this show. Truth. Thank you

[@4000angels]

This was an awesome interview. Thank you

[@omarjanuyghur1093]

Good interview and good explanations.

[@sghetrick]

Very good interview.

[@goblin_attourney]

Excellent interview. I'm already a fan of Luke and as a first impression on Michelle I think she is an excellent interviewer.

[@toms8883]

Brilliant!

[@OliverLiam-px3vx]

Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@JessicaKeith-uj1jq]

With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

[@aleaiactaest8354]

Very well conducted interview, and a great guest.

[@franklindner8259]

Best explanation I have heard.

[@davidwemhoff1621]

Great discussion.

[@Jo-xx2rd]

Thx

[@karlnilsson8054]

This was a really good one, wow

[@richardcalhoun1]

Great interview by Michelle of Luke Grommen ... fascinating perspective ... I'll be buying more commodities!

[@jackputnam7378]

The most informative macro podcast I have ever heard.

[@dhomant]

I listened to it twice. Very nice.

[@richardsutcliffe98]

i like the view and the way luke explains the current position

[@fufubass]

At 1:38, Michelle, you cite Dalio as being 'very' worried about investor appetite for gov bonds. He only said he was concerned -- not 'very worried'.

[@Jontellis]

Love Luke great podcast! 🙏

[@alrent2992]

Repricing and reshoring is a pipedream. It's not happening. Too costly. The u.s. will double down on the M.I.C.

[@James-il3tq]

When all else fails they take you to war. Most) almost every fourth turning ends in war. We're certainly hurrying down that path.

[@DaveHawthorne-lk9mz]

The addiction to a war economy will not end.

[@stuartmoore6310]

And as the last eight years have evidenced it doesn't matter which party is in power in either the big house or the white house.

[@stuartmoore6310]

That has now expanded to the military industrial Congressional academic and intelligence complex, credit to Ray McGovern for coining that.

[@MooseBme]

!YES!

[@NoMoWarplz]

Prodigious. Exceptional guests like Luke and as always peerless excellience by Michelle with the questions and comments are why I wish YT bring back their 100 💯 👍 mojies. Thank you to Luke for breaking down the incomprehensible fed policy and actions speak to see clearer thru the epik civilization phase inflection point we r in.

[@tomaszszulc4415]

Michelle you are a star.Regards from Poland

[@ernestcomeaux4166]

Really a spectacular interview. Everything Luka portrays make perfect sense and clearly lays out an optimistic road ahead for the properly invested.Very confused why one would have any money in negatively yielding short term treasuries though. Obvious the CPI is heavily understated. Why not swap out all your treasury holdings for liquidity in gold?????

[@biankabrodeur01]

Our peak era has passed, with 401(k)s struggling during the recession. My $750K retirement portfolio is shrinking due to inflation, and I fear our leaders are repeating the mistakes of the past. If rising costs worry you about your retirement, I empathize. The American elections are bringing uncertainty with chaotic foreign policies, regulations, and energy strategies.

[@roberttheodoregeorge]

For retirees and those nearing retirement, it's especially tough. Years of hard work lost to a problem beyond your control-I sympathize with all facing retirement now.

[@Lanafromarcher]

I'm anxious about our future, particularly financially. Considering my first stock market investment, but how with the market in turmoil?

[@waltzwalter]

Diversification is key in situations like this. Consulting with a finance professional and diversifying into high-performing options can yield significant dividends and balance volatility. My $330k portfolio grew by 85% in 3 years using this strategy.

[@kennethflores-hv7uf]

Man we really got screwed in 08, too much QE, and it didn’t help with that Afghan debacle.

[@luciaconk]

Luke is so gosh darn smart.

[@cardanogreen]

Michelle you kill it as am interviewer. Keep up the good work. Thank you !