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Tag: Axel Merk

Tariffs Have Changed ‘Plumbing’ of Global Finance (Szn 7, Epsd 8)Podcast episode cover art featuring Axel Merk

Tariffs Have Changed ‘Plumbing’ of Global Finance (Szn 7, Epsd 8)

Published May 6, 2025

With Axel Merk, Merk Investments

Axel Merk of Merk Investments rejoins the podcast to discuss his view that Trump’s tariffs have fundamentally unbalanced the global financial order. This has created real risks, but also opportunities…

Content Highlights

  • The ‘plumbing’ of the global financial system has been upended as a result of tariffs (1:35);
  • China will not dump all their US Treasury holdings overnight. But tariffs will impact future flows. A fragmentation away from US dollar-denominated assets is likely (6:50);
  • Are tariffs inflationary or deflationary? They’re a supply shock: stagflation is the result (10:42);
  • If global trade is impeded and ultimately curtailed, how does this not end badly for economic growth? It will require a mental change from the existing environment. Fortunately, history has ample examples of this transition… (16:19);
  • Europe and China may face trouble in this new world order. So will Turkey. “There will be more tension” (24:45);
  • The case for gold and gold miners (32:16);
  • Does the US enter recession this year? Economic numbers are going to be distorted, so it may not matter. But the spike in imports heading into tariffs will almost certainly create inventory build-up… (37:18).

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Stagflation Is Coming Soon, Staying Awhile: Axel Merk (Szn 4, Ep 25)

Published September 21, 2022

This podcast episode was recorded on Sept. 16, with a short highlight clip containing the most actionable items released to premium subscribers that same day. The full episode was released to premium subscribers without ads or interruptions a day after recording. 

Axel Merk, president and chief investment officer at Merk Investments, joins the podcast to discuss his views on stagflation, the Federal Reserve, U.S. dollar, and why the bottom is not yet in for stocks.

Content Highlights

  • Printing money does not fix supply issues. Next stop: Stagflation (2:59);
  • The current environment simply is not conducive to taking risks (11:15);
  • There’s too much groupthink at the Fed and it’s time for Jerome Powell to step down (13:21);
  • The bottom for stocks is not in yet. The Fed needs to pivot first. What to watch for there (15:26);
  • Background on the guest (24:43);
  • The outlook for gold (31:20);
  • How high might the Fed go with interest rates? (34:09).

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