You want to be defensive…
Alfonso Peccatiello on Palisades Gold Radio
Tom welcomes again Alfonso Peccatiello writer of the Macro Compass Substack to the present.
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Alf explains his world credit score impulse mannequin which measures capital flows through the credit score creation cycles of central banks. We’re at present within the third a part of this cycle the place it’s essential be defensive. He’s at present brief some equities and expects a drop in housing costs. Traders ought to enhance their greenback reserves and think about holding gold.
When issues enhance then credit score turns into extra obtainable which will increase financial exercise however concurrently begins to construct danger. Stability subsequently inevitably results in instability on account of leverage and margin calls. We’re seeing a few of this exercise now brewing beneath the floor.
FULL SHOW NOTES AND LINKS HERE