TIMESTAMPS: 00:00:00 - Introduction
00:01:58 - The Trade Deficit as a Core Issue
00:05:16 - The Sword of Damocles & Reserve Currency Costs
00:12:39 - How the Dollar Becomes Overvalued
00:18:50 - Overconsumption, Malinvestment & Persistent Deficits
00:20:33 - Why the U.S. Can't Compete in Manufacturing
00:22:56 - Broad Money, Base Money & the Eurodollar System
00:34:14 - Foreign Selling Risk & the March 2020 Shock
00:36:56 - The Current Account vs Capital Account
00:41:05 - Are Tariffs a Real Solution?
00:43:41 - Tactical vs Strategic Dollar Weakening
00:47:27 - Trump's Tariff Strategy
00:49:36 - Automation & The Limits of Reshoring
00:53:33 - Bitcoin As a Neutral Reserve Asset
01:01:46 - Has Bitcoin Decoupled?
01:03:17 - Gold vs Bitcoin 01:05:30 - $150k Bitcoin