2 years ago

Chief Investment Officer at Evergreen Gavekal and author of the Haymaker Substack David Hay explains the risk he sees for the U.S. dollar, as nations begin to execute trades in alternative currencies. David also discusses why the velocity of money is one of the most important trends investors should be paying attention to, along with giving us a glimpse into his portfolio.

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00:00 Introduction
01:23 Slow Down of Money Velocity
06:45 How Does Low Velocity Change Things?
08:12 Bank Consolidation
10:47 Real Estate Market
15:19 Transactions in non-US Dollars
20:55 Could the End of USD Dominance be Good?
24:21 Commodities-Backed Currency
27:30 Inflating Away the Debt
31:44 OPEC+ Oil Production Cuts
37:10 What is OPEC's Incentive?
39:39 Is This a New Cold War?
44:48 Demographic Challenges
47:16 David's Portfolio
53:25 Uranium and Copper
54:23 Geopolitical Risk