Podcasts about central banks

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture[CB] around the world are dumping the Fed note, they just aren’t taking on anymore, everything is about to change. Trump’s GDP outshines Biden’s. China is now going to restrict silver, silver is used in electronics, batteries,solar panels etc. Silver prices are going to move. [CB] fraud is now exposed. The Tariff system is the future. The [DS] criminal syndicate is being exposed, it’s not just in DC it is world wide. As people learn how corrupt the system is and most of the taxes and borrowing goes to support the criminal system the people will be with Trump to remove the Fed. Trump is in the process of bringing down the entire corrupt temple on the [DS]. Trump moves closer to peace with Ukraine, 2026 is going to change everything. Economy Status of the US Dollar as Global Reserve Currency: USD Share Drops to Lowest since 1994  Central Banks diversify their holdings into dozens of smaller “non-traditional reserve currencies.”  The share of USD-denominated assets held by other central banks dropped to 56.9% of total foreign exchange reserves in Q3, the lowest since 1994, from 57.1% in Q2 and 58.5% in Q1, according to the IMF's new data on Currency Composition of Official Foreign Exchange Reserves. USD-denominated foreign exchange reserves include US Treasury securities, US mortgage-backed securities (MBS), US agency securities, US corporate bonds, and other USD-denominated assets held by central banks other than the Fed. Excluded are any central bank's assets denominated in its own currency, such as the Fed's Treasury securities or the ECB's euro-denominated securities. It's not that foreign central banks dumped US-dollar-denominated assets, such as Treasury securities. They did not. They added a little to their holdings. But they added more assets denominated in other currencies, particularly a gaggle of smaller currencies whose combined share has surged, while central banks' holdings of USD-denominated assets haven't changed much for a decade, and so the percentage share of those USD assets continued to decline.   Central banks' holdings of foreign exchange reserves in all currencies, and expressed in USD, rose to $13.0 trillion in Q3. Top holdings, expressed in USD: USD assets: $7.41 trillion Euro assets (EUR): $2.65 trillion Yen assets (YEN): $0.76 trillion British pound assets (GBP): $0.58 trillion Canadian dollar assets (CAD): $0.35 trillion Australian dollar assets (AUD): $0.27 trillion Chinese renminbi (RMB) assets: $0.25 trillion Source: wolfstreet.com (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");  https://twitter.com/elonmusk/status/2004750391435755846?s=20 https://twitter.com/ElectionWiz/status/2004928015172821228?s=20 https://twitter.com/ElectionWiz/status/2004946780216328590?s=20  Political/Rights https://twitter.com/Patri0tContr0l/status/2004590513182367845?s=20  https://twitter.com/Geiger_Capital/status/2005107085865103608?s=20 ICE: 70% Arrested Had Criminal Ties Roughly 70% of illegal migrants arrested by U.S. Immigration and Customs Enforcement (ICE) under the second Trump administration reportedly had been convicted of or faced charges for criminal offenses. New data provided to the Washington Examiner shows the Trump administration arrested about 595,000 illegal immigrants between Jan. 20 and Dec. 11, according to the Department of Homeland Security. ICE said 70%, roughly 416,000, had “criminal convictions or pending criminal charges” in the United States, underscoring President Donald Trump’s promise to prioritize the “worst of the worst” in immigration enforcement. ICE officials stressed that even those without U.S. criminal records can still pose major public safety threats, the agency said, noting many are wanted abroad for violent crimes or have ties to gangs, terrorism, or other serious offenses. “This statistic doesn’t account for those wanted for violent crimes in their home country or another country, INTERPOL notices, human rights abusers, gang members, terrorists, etc. The list goes on,” an ICE spokesperson told the Examiner. Source: newsmax.com   New Files Show Epstein Was ‘Too Useful' for Banks to Drop — Trump Was ‘Too Politically Dangerous' to Keep  The newest Epstein disclosures include deposition testimony that illustrates, in unusually concrete detail, how major financial institutions assessed risk, value, and accountability. The transcript does not add new allegations about Epstein. Instead, it explains why he remained bankable long after his 2008 conviction and why his relationship with major banks survived despite generating almost no traditional revenue. That institutional logic is the same logic that later drove JPMorgan to end its ties with Trump Media, and the contrast between the two cases shows how selectively these standards are applied. In the deposition, Paul Morris—a private banker who handled Epstein's accounts at JPMorgan Chase and later Deutsche Bank—described Epstein's financial profile with unusual precision. Epstein's trading was minimal. His accounts produced limited fees. He was not a high-activity client and did not utilize the investment tools that banks rely on to generate consistent revenue. By every conventional benchmark, he was a low-value account. And yet, the relationship continued. The deposition shows why. Epstein was not retained for his financial performance but for his institutional usefulness. Morris acknowledged that Epstein facilitated introductions to ultra-wealthy individuals that the bank viewed as essential prospects. One example was Leon Black, whom Morris identified as a “priority prospect” because of Black's significant net worth and influence in the investment sector. Epstein introduced the bank to real-estate investor Andrew Farkas and discussed a potential connection involving biotech investor Boris Nikolic, who had ties to Bill Gates. These introductions were specific, documented, and initiated by Epstein, not the bank. This is the key element that many public accounts overlook. Epstein was not being managed as a traditional client. He functioned as a relationship broker inside a system where introductions to power carry more internal value than account-level returns. Source: thegatewaypundit.com  DOGE Geopolitical The EU Leaders Shouting About Visa Bans Are the Same EU Leaders Who Sent Political Operatives Into the U.S. to Support Kamala Harris  EU leaders from across the spectrum of their collective assembly, are furious with the administration of President Donald Trump for restricting their entry into the United States by blocking their visa permissions.  However, these same EU leaders are the people who sent operatives into the United States in order to interfere in our 2024 election. The Vice President of the European Commission, Kaja Kallas, sums up the European position: “The decision by the U.S. to impose travel restrictions on European citizens and officials is unacceptable and an attempt to challenge our sovereignty. Europe will keep defending its values — freedom of expression, fair digital rules, and the right to regulate our own space.” The “attempt to challenge our sovereignty” statement is a particular type of hubris when we consider THIS: GREAT BRITAIN (October 2024) – The British Labour Party is sending approximately 100 current and former staff members to the United States to work for Vice President Kamala Harris' campaign in key swing states. [SOURCE – LINKEDIN] Not only did the U.K attempt to challenge our sovereignty, but they also actively worked to influence the outcome of our national election in 2024. It is worth remembering the British intelligence operation, (Secret Intelligence Service (SIS), commonly known as MI6), was at the center of the Trump-Russia collusion conspiracy in 2016. The first EU political group to be targeted with the visa bans includes French former EU commissioner Thierry Breton, who was one of the architects of the EU's Digital Services Act (DSA). Also: Imran Ahmed, the British CEO of the U.S.-based Center for Countering Digital Hate, Anna-Lena von Hodenberg and Josephine Ballon of the German non-profit HateAid, and Clare Melford, co-founder of the Global Disinformation Index. https://twitter.com/GeneHamilton/status/2004656229684224393?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2004656229684224393%7Ctwgr%5E91706d63d41394916634b106fbd2268d7711e121%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ftheconservativetreehouse.com%2Fblog%2F2025%2F12%2F27%2Fthe-eu-leaders-shouting-about-visa-bans-are-the-same-eu-leaders-who-sent-political-operatives-into-the-u-s-to-support-kamala-harris%2F https://twitter.com/GeneHamilton/status/2004656234910433405?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2004656234910433405%7Ctwgr%5E91706d63d41394916634b106fbd2268d7711e121%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ftheconservativetreehouse.com%2Fblog%2F2025%2F12%2F27%2Fthe-eu-leaders-shouting-about-visa-bans-are-the-same-eu-leaders-who-sent-political-operatives-into-the-u-s-to-support-kamala-harris%2F Source: theconservativetreehouse.com https://twitter.com/michaelgwaltz/status/2005058695647166898?s=20 https://twitter.com/visegrad24/status/2005035840934723894?s=20 War/Peace   EIGHT, perhaps the United States has become the REAL United Nations, which has been of very little assistance or help in any of them, including the disaster currently going on between Russia and Ukraine. The United Nations must start getting active and involved in WORLD PEACE!   the United States is capable of doing. Under my leadership, our Country will not allow Radical Islamic Terrorism to prosper. May God Bless our Military, and MERRY CHRISTMAS to all, including the dead Terrorists, of which there will be many more if their slaughter of Christians continues.   DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA Trump Tasks Military With an ‘Oil Quarantine' Against Venezuela, as Economic Pressure Is Chosen for Now Over Military Action Venezuela's oil industry under maximum pressure.   And now that the extended holidays are over, the socialist regime will have to deal with the veritable siege imposed by the US and its unprecedented armada. Venezuela is running out of storage space for its oil production since some ships are being seized and many others turned around and left.  Now, it arises that Donald J. Trump has directed US forces to enforce ‘an oil quarantine' against Venezuela for at least the next two months. These moves lead many to think that the Trump team will focus on economic rather than military means to pressure Caracas into ousting Maduro. Reuters reported:   Read  more: Source: thegatewaypundit.com Trump Blockade Leaves $1 Billion Of Venezuelan Crude Stranded On Tankers  With a two-month “quarantine” placed on Venezuelan oil by the Trump administration in a foreign policy move called “gunboat diplomacy,” new data estimate that roughly $900 million worth of crude is currently loaded on tankers, unable to depart Venezuela due to the U.S. blockade. “Based on our visual analysis from both shore and space, we estimate that there are around 17.5 million barrels of crude oil floating onboard tankers in Venezuela which are unable to depart due to the ongoing US blockade,” independent research Tanker Trackers wrote on X. “That’s around $900M of oil.” https://twitter.com/TankerTrackers/status/2004713684871078162?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2004713684871078162%7Ctwgr%5E016cd45f97095edcd74bb159f40c4e93caf9794d%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Fcommodities%2Ftrump-blockade-leaves-1-billion-venezuelan-crude-stranded-tankers Source: zerohedge.com Trump to POLITICO: Zelenskyy ‘doesn't have anything until I approve it' Trump's comments come ahead of his Sunday meeting with Zelenskyy, who will bring with him a new 20-point plan to end the war President Donald Trump on Friday cast himself as the ultimate arbiter of any peace deal between Ukraine and Russia, in an exclusive conversation with POLITICO. “He doesn't have anything until I approve it,” Trump said. “So we'll see what he's got.” Source: politico.com https://twitter.com/FoxNews/status/2005352028365848993?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2005352028365848993%7Ctwgr%5E1588e24fb392689513bf7b2f064c646c1bf5f470%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2025%2F12%2Ftrump-says-russia-ukraine-peace-talks-entering-final%2F  Medical/False Flags 19 Blue States Sue Trump Admin to Preserve Right to Perform Child Sex Changes Last week, Secretary of Health and Human Services Robert F. Kennedy Jr. said he would cut off Medicare and Medicaid funding to any provider that offers so-called gender-affirming treatment to minors. “Under my leadership, and answering President Trump's call to action, the federal government will do everything in its power to stop unsafe, irreversible practices that put our children at risk,” Kennedy said at the time. The Oregon-led lawsuit claims that the decision “exceeds the Secretary's authority and violates the Administrative Procedure Act and the Medicare and Medicaid statutes.” A total of nineteen blue states are suing the Trump administration in a bid to protect the right to perform child sex changes. His office said in a press release: Source: thegatewaypundit.com [DS] Agenda  https://twitter.com/nickshirleyy/status/2004642794862961123?s=20   work way too hard and pay too much in taxes for this to be happening, the fraud must be stopped. https://twitter.com/MAGAVoice/status/2005011311756017964?s=20 https://twitter.com/libsoftiktok/status/2005158623442600391?s=20 https://twitter.com/DataRepublican/status/2005292438114738555?s=20  diabolical. And it’s going to work until we understand that primaries will be more important than generals from here out on. https://twitter.com/C_3C_3/status/2005016429687701811?s=20 https://twitter.com/WarClandestine/status/2005351086115405986?s=20 https://twitter.com/CynicalPublius/status/2005030256382464493?s=20  and your tribe. I spent a lot of my life in the Middle East and Central Asia, working closely with foreign contractors and foreign governments to provide support to American military operations. As a US Army officer with a big checkbook courtesy of Uncle Sam, I can't really count the sheer number of times I was offered bribes to award a contract, or falsify records to do things like create larger (fake) headcounts at places like dining facilities, or to just simply be on the take for future illegal requests. Of course I had enough sense to never comply with such requests. Moreover, they were never explicitly structured as “bribes”; instead it was usually along the lines of “Here I have these Rolexes as gifts for you and your wife to show our friendship.” (Unfortunately, too many US officers and NCOs succumbed to this siren song and ended up breaking rocks in Leavenworth.) The weird thing about this to me was that whenever I turned down such an offering, it was treated as a grave insult. I was the one in the wrong, and not the fraudster trying to bribe me. They considered it rude that I was in their country and refused to accept how things got done. After all, why did I not want to help my tribe by helping their tribe? Let me repeat: in these cultures, FRAUD IS NOT EVEN A CONCEPT. There is only what helps your tribe. Such thought processes are so alien to Americans and much of the West. We are raised on the presumption that our institutions are valid, that the rule of law always prevails, and that integrity is universal. We need these presumptions to have working governments and economies, and without those presumptions—without the mental barrier that causes us not to accept outright fraud—our nation would quickly descend into the economic and social hellscape of countries like…. ummm… you know…. SOMALIA! So when we import people en masse from cultures that accept bribery and fraud as routine, acceptable ways to advance one's tribe, we should not be surprised that things like the $8 BILLION fraud schemes of the Somali population in Minnesota happen so easily. Introducing a fraud-based culture based on tribalism into America is like introducing some sort of lethal virus into a population that has no natural immunity. The virus will spread and grow, unchecked, because it is so alien to the host. Similarly, a culture of fraud is anathema to American thinking, and it must be cut out before it consumes the host. So when you see and hear patriotic Americans decrying what is happening in Minnesota or elsewhere, and when they seek deportation of the offenders, it is not “racism,” it is not “bigotry,” it is not “xenophobia”; instead, it is preserving the American tradition of responsible institutions and national integrity. https://twitter.com/MarioNawfal/status/2005262465190223928?s=20 https://twitter.com/FBIDirectorKash/status/2005305530651189719?s=20   exploiting federal programs. Fraud that steals from taxpayers and robs vulnerable children will remain a top FBI priority in Minnesota and nationwide. To date, the FBI dismantled a $250 million fraud scheme that stole federal food aid meant for vulnerable children during COVID. The investigation exposed sham vendors, shell companies, and large-scale money laundering tied to the Feeding Our Future network. The case led to 78 indictments and 57 convictions. Defendants included Abdiwahab Ahmed Mohamud, Ahmed Ali, Hussein Farah, Abdullahe Nur Jesow, Asha Farhan Hassan, Ousman Camara, and Abdirashid Bixi Dool, each charged for roles ranging from wire fraud to money laundering and conspiracy. These criminals didn't just engaged in historic fraud, but tried to subvert justice as well. Abdimajid Mohamed Nur and others were charged for attempting to bribe a juror with $120,000 in cash. Those responsible pleaded guilty and were sentenced, including a 10-year prison term and nearly $48 million in restitution in related cases. The FBI believes this is just the tip of a very large iceberg. We will continue to follow the money and protect children, and this investigation very much remains ongoing. Furthermore, many are also being referred to immigrations officials for possible further denaturalization and deportation proceedings where eligible. https://twitter.com/ScottPresler/status/2004932316926193933?s=20 https://twitter.com/HarmeetKDhillon/status/2004976287270731981?s=20 https://twitter.com/rising_serpent/status/2005080344610177489?s=20  https://twitter.com/amuse/status/2005092720927232198?s=20  “skeptical jurors” in federal cases involving President Trump. Co-founder Alex Dodds said jurors have “enormous power” to judge the administration itself. Critics report the sessions encourage rigging trials against the administration, conduct plainly barred under 8 USC §1503. President Trump's Plan https://twitter.com/WarClandestine/status/2004653262491058216?s=20 accomplished what no one else could. When we arrived, taxpayers were about to be on the hook for nearly $5 billion for a new headquarters that wouldn't open until 2035. We scrapped that plan. Instead, we selected the already-existing Reagan Building, saving billions and allowing the transition to begin immediately with required safety and infrastructure upgrades already underway. Once complete, most of the HQ FBI workforce will move in, and the rest are continuing in our ongoing push to put more manpower in the field, where they will remain. This decision puts resources where they belong: defending the homeland, crushing violent crime, and protecting national security. It delivers better tools for today's FBI workforce at a fraction of the cost. The Hoover Building will be shut down permanently.  They Got Her: FBI Caught Hillary Clinton Talking Donations with Foreign Felon on Tape As Hillary Clinton closed in on the presidential nomination in the spring of 2016, FBI field officers advised colleagues at headquarters to press her on the foreign donations flowing to the Clinton Foundation while she steered American foreign policy and whether she had used the charity as a campaign piggy bank. But the FBI HQ in Washington — a city in which the former secretary of state and first lady wields enormous influence — let the trail go cold. FBI New York Assistant Director in Charge Diego Rodriguez advised agents in Washington to ask Clinton several questions about the foundation, which are reproduced in full in documents released to the Senate Judiciary Committee by the FBI and published on Dec. 15. The questions reveal the concerns about foreign bribery that the Clinton Foundation case — codenamed “Cracked Foundation” — had uncovered. Among the evidence available to investigators, according to their questions: A recorded conversation between Clinton and Indian hotel magnate Sant Singh Chatwal in which Clinton discussed donations to the foundation and her remaining 2008 campaign debt. The new documents confirm that the FBI had at one time been “intercepting individuals associated with the Clinton Foundation.” Source: westernjournal.com  John Brennan's Lawfare Lawyers are Revealing More Than They Intend   former CIA Director John Brennan are sending proactive letters to the Federal District Court for the Southern District of Florida {SEE HERE}.  However, some of the information included in the letters intended to be exculpatory is actually damning against their defense position. You have to go deep in the weeds to see it but if you understand the details of the events, the information being revealed by Brennan's lawyers is the opposite of helpful to his case.  As an example, there is a citation included in a footnote of the December 22, 2025, [fn #20 page 6] letter that links to a March 31, 2022, letter sent to John Durham. Here's page 6 of the 2025 letter. Compare the underlined section to the 2022 letter sent to John Durham. In 2025 Brennan is telling the Florida court the Intelligence Community Assessment (ICA) conclusion was confirmed by Special Counsel Robert Mueller in a “very serious review.”  However, in 2022 Brennan told John Durham that Robert Mueller never interviewed him or offered an assessment of the ICA; Mueller just regurgitated it. So, which is it? These contradictions are throughout both of the letters when you compare them side-by-side.  In 2022 former CIA Director John Brennan was trying to escape the Durham review.  In 2025 Brennan is trying to escape a grand jury review. [We are aware that the U.S Attorney for the Southern District of Florida, Jason Reding Quiñones, has access to the CTH public library of research into all of these historic events.] There are other citations in the 2022 letter that are certainly worth reviewing because the legally binding statements made by John Brennan at the time have been shown to be false in 2025. Another of the claims in the 2022 letter to John Durham highlights why it was critical for the CIA to assist in the capture and arrest of Julian Assange in 2019. Source: thegatewaypundit.com  Trump: Upcoming Midterms Will Be ‘About Pricing’ The 2026 midterm elections will be “about pricing,” according to President Donald Trump, who said that his administration is restoring the nation’s economy after the condition in which former President Joe Biden left it. “I think it’s going to be about the success of our country,” Trump said in an interview with Politico, the outlet reported Saturday. “They gave us high pricing, and we’re bringing it down. Energy’s way down. Gasoline is way down.” Over the past two weeks, a series of positive economic reports has shown that inflation is decreasing, with the White House highlighting the latest data while addressing cost-of-living concerns nationwide. According to a Politico poll conducted last month, Americans say they are finding that the costs of groceries, utilities, healthcare, housing, and transportation are too expensive. Trump has been fighting to reframe that, however, blaming Democrats under Biden for driving prices up. He said in the interview, conducted Friday, that “electricity is down. It’s way down.” “When the gasoline goes down, and when the oil and gas go down, the electricity comes down naturally,” he said. “But it’s all coming down. It’s all coming down. It’s coming beautifully.” Source: newsmax.com https://twitter.com/WarClandestine/status/2004696380531503505?s=20   the NG will have quick response troops on standby in every state, the FBI building is being moved to a new location, the war between Russia and Ukraine is coming to an end, and all of Trump's pieces will be in place. There seems to be a shift in attitude. I think we are passing into a different phase of the operation. The shadow war will eventually have to come to the surface. 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CarMax is back as a microcosm of the entire consumer economy. The company stumbled back in the spring then at the end of summer declared – no big deal - everything was turning around. Instead, not long after management eventually admitted it didn't turn around which, this past week, was totally confirmed when CarMax reported sales that had basically crashed during the quarter. Eurodollar University's conversations w/Steve Van Metre---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To reserve your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The Bank of Japan keeps hiking its policy rate, Japanese bond yields continue to rise, yet no matter how high interest rates go over there the weaker the Japanese yen seems to get. And no one can figure out why. The government is stumped. Central bankers can only complain. And the yen is not the only one, but is a critical example of what everyone leaves out because they don't really know what they're looking at, or even looking for. Eurodollar University's Money & Macro Analysis------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. Reserve your spot below but you better hurry, there aren't many left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------EDU's After-Christmas SALEGet $1,000 off an annual subscription to our DDA+ or 40% off an annual membership. Complete details and checkout at our website link below:https://www.eurodollar.university/holiday-offer---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Repo fails, a measure of collateral flow throughout the entire financial system, soared to more than $300 billion as of the middle of December. It was the highest for any non-quarter end week going back to June 2023. At the same time, borrowing from the Fed's repo facility is way up again as investors refuse to buy the spin from private credit that their portfolios are just fine and from central bankers who say the same thing about the economy. Eurodollar University's Money & Macro Analysis------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To reserve your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------EDU's After-Christmas SALEGet $1,000 off an annual subscription to our DDA+ or 40% off an annual membership. Complete details and checkout at our website link below:https://www.eurodollar.university/holiday-offer---------------------------------------------------------------------------------WSJ The Private-Credit Party Turns Ugly for Individual Investorshttps://www.wsj.com/finance/investing/the-private-credit-party-turns-ugly-for-individual-investors-287356f9https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Gold and silver are sending a powerful signal. Doug Casey joins Soar Financially to break down the surge in precious metals, the role of central banks, BRICS de-dollarization, geopolitical instability, and what investors should watch heading into 2026. Is this a panic move, or the start of a larger monetary reset? ------------Thank you to our #sponsor MONEY METALS. Make sure to pay them a visit: https://bit.ly/BUYGoldSilver------------

US GDP utterly crushed it in Q3 and that was following Q2 when output supposedly was well more than expected, so two quarters in a row of booming numbers. So why isn't anyone buying it? To begin with, just look at gold and silver. Safe haven buying is literally off the charts. Bond yields didn't react at all. And consumer confidence keeps falling deeper into recession territory.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Back in October, foreigners sold a massive $61.2 billion in LT UST assets, the most since April. While that may sound like the “sell America” and Treasury rejection narrative from the summer, it's actually proof that the Fed's bank reserves are irrelevant. Remember October? Repo rates soaring. Use of the Fed's repo facility skyrocketed. Cockroaches and garbage lending. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Crypto 2026 prediction - what will happen with Bitcoin and Altcoins in the new year? Brought to you by

Join Jane Kavanagh from AIB's Corporate Treasury desk and AIB Senior Economist John Fahey for the final Market Talk podcast of 2025. In this special year-end episode, they reflect on a year dominated by uncertainty, trade tensions, and shifting central bank policies. Tune in for:A recap of 2025's biggest market themes, including the impact of US tariffs and global trade agreements.Insights into central bank decisions: Fed, ECB, and Bank of England rate moves and what's next for 2026.Currency market highlights: Dollar weakness, euro resilience, and sterling's rollercoaster year.Forward-looking views on economic growth, inflation, and what could shape the markets in the year ahead.Quick-fire predictions for euro/dollar and euro/sterling pairs.Stay informed with expert analysis and practical outlooks for the new year. Subscribe to AIB Market Talk for ongoing financial market insights.Visit our website and subscribe to receive AIB's Economic Analysis direct to your inbox. Our full legal disclaimer can be viewed here https://aib.ie/fxcentre/podcast-disclaimer. Registered in Ireland: No: 24173 Allied Irish Bank p.l.c is regulated by the Central Bank of Ireland AIB Customer Treasury Services is a registered business name of Allied Irish Banks, p.l.c. Registered Office: 10 Molesworth Street, Dublin 2

Blue Owl is back, the beleaguered alternative fund manager making news this time by refusing to partner back up with beleaguered former AI bubble star Oracle. This is big, especially since before now Blue Owl and Oracle worked together on seemingly everything. We've even got Tether's CEO feeling the winds shift, admitting how Bitcoin's struggles, for example, are a reflection of both the credit cycle and bursting AI anxiety. Eurodollar University's conversation w/Steve Van Metre------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To reserve your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------EDU's Webinar Series REPLAYThere is a ton of smoke coming out from the credit markets right now. But is there fire? For the next hour and a half, join us in examining the issue from all the relevant angles and perspectives. Just how big is the "garbage pool"? What is the driving force behind the credit cycle? How can we tell if it is turning, or maybe has turned? The most important funding system in the world is flashing warning signals, and almost no one is paying attention. Replay the full webinar at the link below:https://event.webinarjam.com/m9wym/go/replay/1ym21cpxh8zfw3f4---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

This recovery in commercial real estate is unique. Across the US, Europe, and Asia, it has been defined by persistent weakness in both investment and prices. On this special episode of The Weekly Briefing, Chief Real Estate Economist Kiran Raichura and Senior Real Estate Economist Amy Wood join David Wilder to discuss whether this weakness will persist through 2026 and where investors can still find outperformance. Kiran and Amy address:Why higher-for-longer interest rates remain the primary determinant of returns for most clients.What is required to bridge the gap between seller and buyer price expectations.Which traditional sectors offer the best returns, and which alternatives will provide significant outperformance.Why private credit markets represent the greatest downside risk to commercial real estate in 2026.Further reading:Key themes for global commercial real estate in 2026Global Commercial Property Chartpack (Q4 2025)

Miami leads the nation in home de-listings, that is number of sellers who realize the housing situation is bad and getting worse, therefore simply pull their property off the market. De-listings nationally have soared this year, led by Miami and Florida. It wasn't supposed to be like this. Sellers came back into the market thinking lower interest rates were going to lure buyers. Why wouldn't they? That's what everyone says. Falling rates are stimulus and real estate is the most sensitive to it.Eurodollar University's Money & Macro Analysis------------------------------------------------------------EDU LIVE PRESIDENT'S DAY FEBRUARY 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot just go here but you better hurry, there aren't many spots left:https://eurodollar-university.com/event-home-page------------------------------------------------------------Realtor.com November 2025 Monthly Housing Market Trends Reporthttps://www.realtor.com/research/november-2025-data/NAR NAR Existing-Home Sales Report Shows 0.5% Increase in Novemberhttps://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-0-5-increase-in-novemberFlorida Housing Market https://www.redfin.com/state/Florida/housing-marketBloomberg US Existing-Home Sales Edge Up With Help From Tamer Priceshttps://www.bloomberg.com/news/articles/2025-12-19/us-existing-home-sales-edge-higher-with-help-from-tamer-priceshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Just as nations collapse when citizens demand more from the currency than the currency can provide, relationships collapse when partners demand emotional liquidity from partners who remain spiritually insolvent.

Just as nations collapse when citizens demand more from the currency than the currency can provide, relationships collapse when partners demand emotional liquidity from partners who remain spiritually insolvent.

Today's guest is David McWilliams, an economist, podcast host and author. David worked at the Central Bank of Ireland, UBS and BNP Paribas and is the founder of the Kilkenomics Festival, a unique blend of economics and stand-up comedy. His book is called The History of Money: A Story of Humanity, which is my favorite book from 2025. In today's episode, David walks through the evolution of money over the last 5,000 years. He explains why money is a foundational social technology that is central to every aspect of our civilization, from the political to the artistic. He delves into historical anecdotes—from clay tablets in Mesopotamia to Gutenberg's printing press to Martin Luther's disruptive influence on the church. Throughout the episode, he emphasizes that economists need to do a better job helping people understand money and its role in navigating modern economic principles. (0:00) Starts (1:26) David explains the Kilkenomics Festival (3:41) David McWilliams on "Money, The History of Money, A Story of Humanity" (9:55) Evolution and trust in money throughout history (26:28) Impact of the Gutenberg printing press and Martin Luther (36:42) Historical perspectives on speculation and losing money (43:18) Future of economics, storytelling, and equity culture differences (49:18) Educating youth on finance and investing ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Learn more about Alpha Architect and important information about the fund: funds.alphaarchitect.com/aaua  Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). ----- Ad Disclaimer: This information does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. Certain information contained herein has been obtained from third party sources and such information has not been independently verified by The Idea Farm. No representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by The Idea Farm or any other person. While such sources are believed to be reliable, The Idea Farm does not assume any responsibility for the accuracy or completeness of such information. The Idea Farm does not undertake any obligation to update the information contained herein as of any future date. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tariff inflation continues to go down in flames, yet central bankers refuse to let it go. The US CPI report for November was released today and the details should help put all this to rest – especially alongside the payroll numbers from earlier in the week. However, over in Europe both the ECB and Bank of England claim they need to be vigilant about tariff inflation at the same time job losses and unemployment pile up even higher.   Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------EDU's Webinar Series REPLAYThere is a ton of smoke coming out from the credit markets right now. But is there fire? For the next hour and a half, join us in examining the issue from all the relevant angles and perspectives. Just how big is the "garbage pool"? What is the driving force behind the credit cycle? How can we tell if it is turning, or maybe has turned? The most important funding system in the world is flashing warning signals, and almost no one is paying attention. Replay the full webinar at the link below:https://event.webinarjam.com/m9wym/go/replay/1ym21cpxh8zfw3f4---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Instead of market competition, inflation forces young and old into rivalrous competition for housing.Original article: https://mises.org/mises-wire/inflation-and-intergenerational-housing-rivalry

Instead of market competition, inflation forces young and old into rivalrous competition for housing.Original article: https://mises.org/mises-wire/inflation-and-intergenerational-housing-rivalry

In our last FX podcast of the year, we discuss the main questions and highlights from our year-ahead outlook meetings as well as take-aways from DM central bank meetings and US data releases.   Speakers Meera Chandan, Global FX Strategy Patrick Locke, Global FX Strategy Junya Tanase, Japan Markets Research Octavia Popescu, Global FX Strategy   This podcast was recorded on 19 December 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5158663-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.    

Robert Kelly, Director of Economics and Statistics at the Central Bank, on the latest forecasts for the Irish economy.

Ireland's economy has shown resilience in the last year, but the Government needs “prudent ambition” for long-term, sustainable growth. That's according to the Central Bank's final Quarterly Bulletin of 2025, which found Modified Domestic Demand is projected to grow by just below 4 per cent in 2025. We discuss this and more with Barra Roantree, Assistant Professor of Economics at Trinity College.

The final major week of the year in macro is in the books. Group Chief Economist Neil Shearing joins The Weekly Briefing to explain why the latest US inflation report should be taken with a “bucketful of salt,” while reviewing the year-end moves from the BoE, BoJ, and ECB. He reviews the latest moves from the Bank of England, the Bank of Japan, and the ECB, and talks about why a growing Chinese trade surplus has a corresponding deficit that could present a key risk to global macro stability.Plus, Deputy Chief Markets Economist Jonas Goltermann discusses one of our most prominent calls for 2026: why, despite recent wobbles, the AI-driven equities bubble will continue to inflate.

The BLS confirmed the US labor market has indeed entered flat Beveridge territory with profound implications. What are they? What does this mean moving forward? Join me at 1:30pm ET to find out.Also, join me later tonight for a very special webinar where we are going to be doing a COMPREHENSIVE review of on set of consequences from flat Beveridge: cockroaches and the credit market cycle. We'll go over all the smoke rising from the space and assess whether or not there's fire behind it - and take a few reasonable stabs at estimating how much.EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/channel/risks

BP chief executive Murray Auchincloss has said he will step down after less than two years in the role, India's central bank governor expects the country's interest rates to remain low for a ‘long period', and UK inflation fell more than expected to an eight-month low of 3.2 per cent. Plus, global companies are seeking private equity partners in China to take on their local operations as they grapple with an increasingly competitive local market.Mentioned in this podcast:BP picks Woodside boss Meg O'Neill as new chief executiveIndia's central bank governor signals rates to stay low for ‘long period'UK inflation falls more than expected to 3.2% in NovemberGlobal brands seek private equity partners to save their China businessesNote: The FT does not use generative AI to voice its podcasts Today's FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. The FT's acting co-head of audio is Topher Forhecz. The show's theme music is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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We highly recommend this newsletter: Der Rohstoffkönig: https://rohstoff-koenig.de/10% Discount upon checkout using code: Gold4000In this rare interview, Björn Paffrath breaks down why gold and silver are entering a multi-year cycle driven by inflation, central bank buying, AI energy demand, and a historic lack of mining investment. We discuss physical metals vs mining stocks, where generalist money is flowing next, and why this cycle may look very different from 2008.#gold #silver #stockmarket ------------Thank you to our #sponsor MONEY METALS. Make sure to pay them a visit: https://bit.ly/BUYGoldSilver------------

Chinese investment crashed yet again in November, the second straight month of bigtime declines. Only this time FAI was joined by consumer spending. Retail sales over in China also crashed last month, dropping by almost half a percent in November alone. That's enormous. It follows terrible data on household lending and bank credit. All of it points to an increasingly familiar topic and condition: China big economic slide is sliding right onto flat Beveridge. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/channel/risks---------------------------------------------------------------------------------------------------------------------------------------------If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page------------------------------------------------------------Bloomberg China's Labor Market Distress Spreads at Worst Time for Deflation Fighthttps://www.bloomberg.com/news/articles/2025-09-22/china-s-labor-distress-spreads-at-worst-time-for-deflation-fighthttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Leading digital bank Monzo has announced that it has secured a full banking licence from the European Central Bank (ECB) and the Central Bank of Ireland (CBI) to enable it to take its much-loved product into European markets and supercharge its global ambitions. Founded in 2015 and fully regulated in the UK since 2017, Monzo has grown to become the UK's leading digital bank, a household name and much-loved brand, trusted by more than 14 million customers and over 800,000 businesses. With a mission to make money work for everyone, it has pioneered tools and features that transform people's relationship with money. With today's news, Monzo becomes the first digital bank fully regulated by the CBI. This licence unlocks the next chapter in the company's mission to expand into Europe, starting with Ireland. With its European headquarters and a growing team in Dublin, the bank will be working closely with customers to deliver a product that solves real problems and puts them in control of their finances. Michael Carney, EU CEO at Monzo, said: "The approval from European regulators means we can now take our much-loved products and service to millions more personal and business customers. Monzo has already proven that by combining the trust of a regulated bank with cutting-edge technology, we can truly transform people's relationship with money. Today marks a significant step forward in our global mission to make money work for everyone." Elaine Deehan, Country Manager for Ireland at Monzo: "We're excited to be launching an Irish digital bank serving customers and businesses. People here are tech-savvy who value digital-first products that are built around their real life. Banking with Monzo is designed to make managing money effortless - an account with no maintenance fees, packed with clever savings, budgeting and security features and human customer support on hand 24/7." A new kind of free bank account in Ireland In the coming months, Irish customers will be able to apply for Monzo's free personal, joint, business, children's, and instant-access savings accounts - all managed in one easy-to-use app, packed with powerful budgeting tools. Each will come with an Irish IBAN, giving customers the confidence and convenience of a locally licensed bank. Monzo's free instant access savings account allows customers to start saving with as little as €1 and access their money whenever they need it. The account will offer a competitive 1.6% variable interest rate, which is nearly twelve times the average Irish rate on overnight deposits.. Monzo's business accounts are designed to make life simpler for small businesses and sole traders, with fast digital onboarding, automated Tax Pots, integrated invoicing and real-time financial visibility. Every Monzo account is powered by industry-leading technology built for reliability, fraud prevention and security with access to 24/7 human support - either directly in the app or over the phone. Early access and opportunity to co-create products The Monzo team will work closely with its first personal and business customers to test and shape Monzo's first products for Ireland. By working hand-in-hand with customers, Monzo aims to deliver a banking experience that truly reflects what Irish customers deserve. Starting today, individuals and businesses can register at www.monzo.com/ie to join Monzo's waitlist for early access. See more stories here.

So, Jay Powell just casually strolled to the podium at his press conference last week and announced the Fed now believes the US has been losing jobs at a rate of 20,000 per month. From strong and resilient to solid to, ah, so what we're now shedding jobs by the tens of thousands per month. Do you see it yet? The Treasury curve does, which is why it is moving into its final form in this long un-inversion process, with the big moves taking shape and doing most of the reshaping right in Chair Powell's conference room.   Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/channel/risks---------------------------------------------------------------------------------------------------------------------------------------------If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page------------------------------------------------------------NBER Determination of the December 2007 Peak in Economic Activityhttps://www.nber.org/news/business-cycle-dating-committee-announcement-december-1-2008FOMC Press Conference, December 10, 2025https://www.youtube.com/watch?v=Ko-_yb2UkDkTranscripthttps://www.federalreserve.gov/mediacenter/files/FOMCpresconf20251210.pdfBloomberg Fed's Goolsbee Says He Sees More Cuts Than Most Others Next Yearhttps://www.bloomberg.com/news/articles/2025-12-12/fed-s-goolsbee-cites-need-for-more-data-in-dissent-against-cuthttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

George Kikvadze is the Founder of Cryptic8 VC, investing at the intersection of technology and longevity. He is also Vice Chairman and an early backer of Bitfury Group, the company at the heart of this book. A Bitcoin pioneer since 2013, he was privileged to be behind three tech unicorns - Bitfury, Cipher Mining, and Hut 8 - with a combined value exceeding $12 billion. A graduate of Wharton and Johns Hopkins, George enjoys tennis, chess, and raising his two sons. Bill Tai has funded startups since 1991, with 23 becoming publicly listed companies. An early backer of Zoom, Canva, and Dapper Labs, he also co-founded data pioneer Treasure Data (acquired by SOFTBANK) and IPInfusion (TSE:4813). Originally a chip designer at LSI Logic and Taiwan Semiconductor, he later led semiconductor IPOs at Alex Brown & Sons. He holds a BSEE from the University of Illinois and an MBA from Harvard, where he advises the Dean. He chairs ACTAI Global, uniting entrepreneurs and innovators for tech-based conservation. Learn about the inside story of Bitcoin in this great new book, And Then You Win: A Start-Up's Untold Story of Grit, Grind, and Glory Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.

⬜ Welcome to Palvatar Market Recap, your go-to daily briefing on the latest market movements, global macro shifts, and crypto trends—powered by Raoul Pal's AI avatar, Palvatar. ⬜ In today's update, Palvatar breaks down a packed macro week featuring major central bank decisions from the ECB, BoJ, and BoE, alongside key U.S. data including non-farm payrolls, retail sales, and CPI. Global equities show mixed signals as Europe rebounds, Asia struggles with China's slowing economy, and Wall Street stabilizes. Meanwhile, crypto markets dip despite continued institutional adoption and regulatory developments.

IBM's CEO said there is “no way” that the massive spending on AI and data centers will ever pay off. For the first time in this bubble cycle people are finally wondering if maybe he is right. It couldn't have come at a more critical time in light of Oracle's shocking results. And then Broadcom failed to live up to the hype. In many ways, AI is the last pillar holding the forgot how to grow economy together, from both investments and stock-fueled consumer spending. Eurodollar University's conversation w/Steve Van Metre---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/channel/risks---------------------------------------------------------------------------------------------------------------------------------------------If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Derek Macpherson, CEO of West Point Gold (WPGCF), talks about gold's glimmering 60% rally in 2025 that nearly brought the commodity back to a record high Monday. Derek says central banks are the biggest buyers but notes retail investors adding it to portfolios on concerns of economic fragility. While he's not confident we'll have another 60% year anytime soon, Derek offers a bull case to gold's continuing outperformance in 2026. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Our series reviewing the UBS European Conference concludes with a focus on central banks. Our guests discuss the outlook for the US and Europe, and a new AI-based tool that tracks central-bank tone and sentiment. See omnystudio.com/listener for privacy information.

France's President called it a matter of life and death for European industry. The head of the European Commission said it has reached “an inflection point.” The Chinese have been trying to export their way out of what is now a major downturn. The truth is, neither side has much choice; the Chinese have to do it and the Europeans have to start resisting it. What China just reported in banking and the economy shows they're out of options even if it means sinking relations with an entire continent.  Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/channel/risks---------------------------------------------------------------------------------------------------------------------------------------------If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page------------------------------------------------------------Bloomberg China Forces Reckoning in Europe as Trade Turns Existentialhttps://www.bloomberg.com/news/articles/2025-12-12/china-forces-reckoning-in-europe-as-trade-boom-turns-existentialPolitico EU European industry faces ‘life or death,' Macron says — and China needs to helphttps://www.politico.eu/article/europe-china-emmanuel-macron-foreign-investment-trade/Bloomberg China Politburo Member Misses Two Key Meetings as Mystery Buildshttps://www.bloomberg.com/news/articles/2025-12-12/china-politburo-member-misses-two-key-meetings-as-mystery-buildshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------EDU LIVE 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Risk generally falls into 4 categories, monetary (Central Banks), economic (growth and profits), financial (leverage, carry and correlation) and finally, geopolitical. This last category is non-market, market risk.  And in this context, it was a pleasure to welcome Mark Rosenberg, Founder of GeoQuant and adjunct professor at UC Berkeley to the Alpha Exchange for a discussion centered on political risk as a measurable market variable.Mark's work evaluates how governance, social instability, institutional stress, and security dynamics influence asset pricing. Tracing his path from academia to his time at Eurasia Group, he describes the gap that existed in country-risk assessment—macroeconomic indicators were abundant, yet political inputs remained qualitative, backward-looking, and infrequent. His motivation for launching GeoQuant followed the belief that political dynamics could be structured into model-based, data-driven signals rather than anecdotes, expert impressions, or slow annual indicators.GeoQuant separates political risk into governance, social, and security components, drawing from quantitative indicators, news-driven updates, and structural model frameworks. Geopolitical risk conjures referendums like Brexit, countries like Russia, China and Iran, conflicts like trade wars and actual wars. The United States does not come to mind. But looking ahead to the 2026 midterm cycle, Mark describes a US landscape defined by elevated turnover risk, the potential for policy conflict, and a political structure capable of generating prolonged uncertainty, a risk factor that may not be sufficiently priced into assets.I hope you enjoy this episode of the Alpha Exchange, my conversation with Mark Rosenberg.

It's been another turbulent year in politics. Prime Minister Keir Starmer has faced down rebellions from within his own party, overseen scandals and sackings, and delivered a constant barrage of bad news from health and housing to small boats and the Budget. He's fared a little better on the world stage – with successful state visits, securing a comparatively competitive trade deal with Trump, as well as a tentative rapprochement with Europe. But with every international success, Starmer's standing domestically seems to diminish: he ends the year, on some measures, as the most unpopular PM ever. In this special live episode of Political Fix, host George Parker is joined by Anna Gross, Stephen Bush and Chris Giles to analyse how the Labour party got here – and where it goes next. Follow George on @georgewparker.bsky.social; Stephen on @stephenkb.bsky.social; and Chris on @chrisgiles.ft.com Political Fix has been nominated for a People's Choice Award at the Political Podcast Awards. Vote for us here.Want more? Free links: Return to EU customs union would ‘unravel' UK trade deals, Starmer warns Inside Politics: Neither Keir Starmer nor Kemi Badenoch wants to reverse BrexitNigel Farage rejects allegations of teenage racist abuse Wes Streeting calls for better ‘storytelling' from Starmer's ‘technocratic' governmentChris Giles: Why UK borrowing costs are so high George and Anna's FT scoop on Labour's tax U-turnSign up to Stephen's morning newsletter Inside Politics here, and to Chris' newsletter on Central Banks here. Presented by George Parker, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. Our broadcast engineers this week were Bianca Wakeman, Petros Gioumpasis and Andrew Georgiades. The FT's acting co-head of audio is Manuela Saragosa. What did you think of this episode? Let us know at politicalfix@ft.com Hosted on Acast. See acast.com/privacy for more information.

This week, our Global FX Strategists break down what the recent move in global rates means for FX, and how the FOMC meeting impacted the broad dollar. We also preview next week's US data along with other upcoming central bank meetings, and discuss how FX vol is priced for ahead of those events.   Speakers Patrick Locke Global FX Strategy, Ladislav Jankovic Global FX Strategy, Octavia Popescu Global FX Strategy   This podcast was recorded on 12 December 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5156482-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Live replay on December FOMC decision.---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------EDU LIVE 2026If you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-page---------------------------------------------------------------------------------

The international banking front is turning hawkish, says Charles Schwab's Michelle Gibley. She explains what it means for stocks and the U.S. dollar. Michelle also taps Mexico's push for higher China tariffs as a way to stay in good graces with the U.S. Joe Mazzola notes he's "pleasantly surprised" with how the market is handling the A.I. CapEx narrative following Oracle's (ORCL) earnings. ======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

The Federal Reserve cut its key interest rate Wednesday by a quarter point. That's pretty much what analysts expected. But in other parts of the world, central banks have been signaling that they plan to hold rates steady or even hike them. In this global economy, why is the U.S. out of step? Also in this episode, we hear the pros and cons of quarterly earnings reports, check in on a union-run pipefitting apprenticeship and dig into why wage growth has slowed.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The Federal Reserve cut its key interest rate Wednesday by a quarter point. That's pretty much what analysts expected. But in other parts of the world, central banks have been signaling that they plan to hold rates steady or even hike them. In this global economy, why is the U.S. out of step? Also in this episode, we hear the pros and cons of quarterly earnings reports, check in on a union-run pipefitting apprenticeship and dig into why wage growth has slowed.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Swiss central bankers are being forced to choose between negative interest rates and negative consumer prices by the increasingly negative direction of the globally synchronized system. On a monthly basis, Switzerland's CPI declined in November for the fourth straight month as the country tries to work through contractions in output and a small but noticeable rise in unemployment. This all should sound familiar because, again, globally synchronized.   Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

There is a debate raging on Wall Street and across the markets about what's happening in private credit right now and what that might mean moving forward. We've gotten past the initial shock, the Tricolor and First Brands fiascos, the first round of hedge fund redemptions, so now what? Well, to begin with, there's what banks are doing right now and then there are warnings still coming in from key players across the industry.  Eurodollar University's Money & Macro AnalysisIf you're a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here: https://eurodollar-university.com/event-home-pageBloomberg Private Credit Woes Should Put Banks on Noticehttps://www.bloomberg.com/opinion/articles/2025-12-05/banks-need-shoring-up-against-private-credit-risksBloomberg Private Credit ‘Hysteria' Will Get Very Real Next Yearhttps://www.bloomberg.com/opinion/articles/2025-12-01/private-credit-risk-apollo-ceo-hysteria-claim-is-not-totally-rightBloomberg Private Credit's Sketchy Marks Get Warning Shot From Wall Street's Top Cophttps://www.bloomberg.com/news/articles/2025-11-25/private-credit-s-sketchy-marks-get-warning-shot-from-wall-street-s-top-copBloomberg Private Credit on Defensive Again Over ‘Mark-to-Myth' Studyhttps://www.bloomberg.com/news/articles/2025-10-16/private-credit-on-the-defensive-again-over-mark-to-myth-studyhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The most important funding system in the world is flashing warning signals. Most people won't notice until it's too late.I'm hosting a free webinar to break down what's happening and what it means for your portfolio.  https://event.webinarjam.com/channel/risks--------------------------------------------------------------------------------Automotive insurance claims are estimated to have dropped around 9% so far this year. That sounds like a good thing, but it's an ominous sign. There haven't been fewer car accidents, instead more people just can't afford car insurance. Just recently, Gallup found at its midseason Christmas update, holiday shopping plans plummeted by a record amount. More than during late 2008. Why? Same reason people aren't buying car insurance. There are no jobs and not nearly enough income.  Eurodollar University's Money & Macro AnalysisGallup Economic Confidence Slips; Holiday Spending Plans Plummethttps://news.gallup.com/poll/699311/economic-confidence-slips-holiday-spending-plans-plummet.aspxBloomberg More Americans Are Skipping Car Insurance to Save Moneyhttps://www.bloomberg.com/news/newsletters/2025-12-05/more-americans-are-skipping-car-insurance-to-save-moneyhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

This week, Bob walks through two related debates: Hoppe's criticism of Argentina's President Milei for not immediately closing Argentina's central bank, and the follow-up exchange between Guido Hülsmann and Philipp Bagus on Mises.org over dollarization and the peso. Along the way, he reviews Mises's distinctions among commodity, credit, and fiat money, the concepts of money substitutes and fiduciary media, and the interesting structure of Argentina's short-term central bank debtGuido Hülsmann and Philipp Bagus' Debate on Mises.org: Mises.org/HAP529aThe Human Action Podcast Episode with Nicolás Cachanosky: Mises.org/HAP529bBob's Study Guide to The Theory of Money and Credit: Mises.org/HAP529cThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

Why should everybody get fired at least once? As the former Editor-in-chief of American Vogue, how does Anna Wintour use fashion as a cultural and economic force? Why is Anna's leadership style defined by the speed of her decision making?  Rory and Alastair are joined by Fashion icon Anna Wintour to answer all this and more.   Gift The Rest Is Politics Plus this Christmas - give someone a whole year of Rory and Alastair's miniseries, ad-free listening, early access to episodes and live show tickets, an exclusive members' newsletter, discounted book prices, and a private chatroom on Discord. Just go to https://therestispolitics.supportingcast.fm/gifts And of course, you can still join for yourself any time at ⁠therestispolitics.com For Leading listeners, there's free access to the Wordsmith Academy - plus their report on the future of legal skills. Visit https://www.wordsmith.ai/politics To save your company time and money, open a Revolut Business account today via https://get.revolut.com/z4lF/leading, and add money to your account by 31st of December 2025 to get a £200 welcome bonus or equivalent in your local currency. Feature availability varies by plan. This offer's available for New Business customers in the UK, US, Australia and Ireland. Fees and Terms & Conditions apply. For US customers, Revolut is not a bank. Banking services and card issuance are provided by Lead Bank, Member FDIC. Visa® and Mastercard® cards issued under license. Funds are FDIC insured up to $250,000 through Lead Bank, in the event Lead Bank fails. Fees may apply. See full terms in description. For Irish customers, Revolut Bank UAB is authorised and regulated by the Bank of Lithuania in the Republic of Lithuania and by the European Central Bank and is regulated by the Central Bank of Ireland for conduct of business rules. For AU customers, consider PDS & TMD at revolut.com/en-AU. Revolut Payments Australia Pty Ltd (AFSL 517589). Social Producer: Celine Charles Video Editor: Adam Thornton Producer: Alice Horrell Senior Producer: Nicole Maslen Head of Politics: Tom Whiter Exec Producers: Tony Pastor + Jack Davenport Learn more about your ad choices. Visit podcastchoices.com/adchoices

The yen has made a huge move over the past seven months and no one can figure out why. According to every mainstream economic theory, JPY should be soaring not sinking. It's got the government in Tokyo hollering about currency intervention claiming there is no fundamental reason for the yen's plight. Except, there is and we just got more confirmation as household spending there utterly plunged in September and October. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Business Wars: Follow Business Wars on the Wondery App or wherever you get your podcasts. True Classic: Upgrade your wardrobe at https://trueclassic.com/impact Linkedin: Post your job free at https://linkedin.com/impacttheory CashApp: Download Cash App Today: https://capl.onelink.me/vFut/v6nymgjl #CashAppPod HomeServe: Help protect your home systems – and your wallet – with HomeServe against covered repairs. Plans start at just $4.99 a month at https://homeserve.com Quince: Go to https://quince.com/IMPACTPOD for free shipping on your order and 365-day returns. Huel: 15% off with this exclusive offer for New Customers only with code impact at https://huel.com/impact (Minimum $75 purchase). Netsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/Theory Raycon:  Up to 20% off during this holiday season at https://buyraycon.com/IMPACTTHEORYBC ButcherBox: New users will receive their choice between filet mignon, ribeye or NY Strip in every box for a year + $20 off! at https://butcherbox.com/impact What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER:  https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.:  https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Tom Bilyeu welcomes prolific Bitcoin philosopher and decentralization advocate Robert Breedlove for an electrifying conversation about money, power, and the future of civilization. Known for his rigorous critiques of central banking and his optimistic vision for personal sovereignty, Robert Breedlove brings decades of economic insight and philosophical inquiry to the table. Together, he and Tom Bilyeu break down the practical and ethical problems underlying today's political headlines, including the resurgence of socialism, the structure of the “deep state,” and why incentives drive the behavior of individuals and institutions. In Part 1, Tom and Robert explore the fundamental flaws of centralized systems—from socialist governance and political theater to the mechanics and consequences of central banking and inflation. The conversation examines the history of money itself, the unintended consequences of trying to organize society from the top down, and the anatomy of coercion versus consent in economics. Whether you're skeptical of government spending or on the hunt for financial security in turbulent times, this episode offers a lucid roadmap for understanding the motivations and incentives shaping our world. FOLLOW ROBERT BREEDLOVE:Twitter/X: https://twitter.com/Breedlove22Website: https://www.whatismoneypodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices