The Moment You Realize The Dollar Is Done For Good

Appears to me the US economy is already

strong and it's going to get much

stronger cuz we're looking at the big

beautiful bill looking a lot of

stimulus.

My guess is um the Fed is certainly not

going to hike and probably going to cut.

That would be wonderful if we were

undervalued. We're not undervalued.

We're toward the top of the uh valuation

range historically. We're bearish on the

US dollar mainly because sort of the top

of the historic range in terms of

purchasing power and uh we own copper.

It's not a genius trade. It's a big

consensus trade. Uh there's no supply

coming on of meaningful supply very

tight for the next 8 years. And

obviously you have a big add-on from AI

and data centers. We're not long uh

copper equities as much as we are. the

we just keep rolling the front end. We

have some gold that's mainly a

geopolitical trade. It's not so much a

monetary trade. We're short bonds.

>> I don't necessarily expect to make money

short bonds, but I think we might make a

lot. If I'm right on the economy and

it's a disinflationary growth, I

probably break even. I don't lose

anything, but it allows me to hold the

other assets I mentioned. If I'm wrong

and the strong growth creates inflation,

it wouldn't be that unusual if the Fed

were to cut into a booming economy for

inflation to take off, particularly

what's going on in commodities.

>> Kind of feels like the entire game plan

for what comes next was just laid out by

one of the most prolific investors of

our time. And this isn't just some

successful investor. This is a man with

strong ties to what many would call the

global elite and also the White House.

In fact, I'll break down why he might as

well just be in the White House himself.

Stanley Ducken Miller, if you didn't

know,

is a multi-billionaire investor and he

is a former hedge fund manager.

the fund that he started back in the

1980s.

He closed in 2010

and it had around 12.1 billion in assets

under management at the time, but he

continues to invest. In 1988, Stanley

Ducken Miller was actually hired by a

man named George Soros at his quantum

fund.

and Stanley and George Soros famously

broke the Bank of England when they

shorted the British pound in 1992,

making over 1 billion in one trade. And

this happened during what was called the

1992 sterling crisis.

But once again, Mr. Ducken Miller here

is not just a wildly successful

investor. He also happened to be the

mentor to who was now the Treasury

Secretary

Scott Bessant and believe it or not the

potential incoming Fed chairman Kevin

Walsh. So these guys all know each other

very very well and I wouldn't be

surprised by the idea that at this

moment they are probably all on the same

page. But what exactly is this game plan

and what does this mean for you and your

money?

Well, according to Stanley Jockey

Miller, the economy is booming and it's

only going to continue to get stronger.

But with that, the Fed is actually more

likely to lower interest rates than to

hike them.

Now, lowering interest rates in a time

of high growth would typically be a

little bit concerning because it might

lead to higher inflation. Lowering

interest rates can lead to inflation

because lower interest rates encourage

borrowing and investment in the economy

and that investment can outpace the

growth of new supply which will lead to

a higher price. raise demand, keep

supply constant or not keeping up with

the pace of the increase of demand and

you get higher prices. But what people

like Stanley Duck and Miller are keeping

in mind here is that technology is

increasing productivity and potentially

is creating deflationary effects on the

economy. Higher productivity

means that you get more economic output

for the same inputs, which means there

may not be an increased demand for labor

or other goods and services, which would

lead to lower prices. In that case, the

economy can continue to grow without

having inflationary impacts. And this is

what Stanley Ducken Miller seems to be

betting on. But he's not betting on that

by buying up tech stocks. No, no, no. He

says that he believes that stocks are at

the upper band of valuations.

And we can kind of see how this is

playing out because companies are losing

their valuations on news headlines or

how they're also beating earnings and

then having their stock prices decline.

companies have to be accelerating their

growth beyond expectations

just to justify the current prices and

especially for any higher valuations

than what they have now. But what very

few of these investors or people in

general are really talking about right

now is the labor market. It's almost

like these investors and politicians

don't really care that much about that.

We just saw the founder and former CEO

of Twitter and the current CEO of the

payments company Block, which was

formerly Square, Jack Dorsey, announced

that he's laying off 40% of Block's

workforce,

basically blaming it on AI. And uh when

this happened, the Block share price

jumped by 20 plus%. Now, a lot of people

are questioning whether or not this is

an AI story or whether it's really much

more about poor management where Jack

Dorsey may have potentially overhired

the way that he did at Twitter. But the

truth is that it doesn't really matter

because the result of this action might

be the same. CEOs right now are seeing

that in order to stay ahead in the

software industry, they need to make

massive cuts before any of their

competitors do it. and they can actually

get rewarded by the markets for doing

so. In January 2026,

employers have already announced

108,000 job cuts, which is a 118%

increase from the 50,000 job cuts

announced in January 2025.

This marks the highest January total

since, you guessed it, 2009 during the

financial crisis. If we see layoffs

continue at this pace into 2026, then

the deflationary loop that the Catrini

article pointed out could be something

to really consider as being on the

table. In the Catrini article, they

point out a potential scenario where AI

investment leads to a lower demand for

employment. And that lower demand for

employment or layoffs would lead to

there being less demand in the economy

as people have less money to spend. As

people have less money to spend, these

companies have to protect their margins

and they do so by potentially investing

further into AI or by laying off even

more of their employees. Now, in some of

the wellthoughtout responses to the

Citrini article, some have pointed out

the idea that, well, look, uh, AI is not

that capable yet, and even if it were

that capable, it doesn't mean that

companies are going to adopt it that

fast. But what I think they might not

have taken into account is this idea

that maybe companies don't need to adopt

it or even have it be that capable

before these companies start

overreacting

and that alone being something that

could send us into a deflationary cycle.

Now, I'm not a financial adviser, and

none of this is financial advice, and I

highly advise against taking financial

advice from a random guy walking around

a park

talking to a stick. But Stanley Duck

Miller himself said that he's long gold

and not even as a monetary play, but

more as a geopolitical play. The problem

here is that people have to figure out

where to put their money right now, and

the US stock market is just too risky.

So where do you put it? You put it into

gold. As I mentioned, he's also buying

copper which is at a structural deficit

and has real demand. The thing about

silver, right, is that it is also a

monetary metal. So if the monetary piece

comes out of the play, then you don't

have that riding in your favor. Whereas

with copper, it's purely an industrial

play and there are structural deficits

in that market. But I don't know, maybe

I have completely lost the plot. What

did I miss? Where did I get completely

wrong? Or how could I be looking at this

differently? Let me know in the comments

down below. I'm going live on Saturday

at 2:00 p.m. Eastern, and we're talking

about this and much more. So, be sure to

join me there. And if you haven't

already, you got to subscribe to my live

show that I do with Ben Lev. It's called

Memes and Markets. We go live every

Tuesday and Thursday at 12:00 p.m.

Eastern, and we discuss topics like this

and more. We just had Charles Hoskinson

on, so be sure to check that out at the

link in the description down below. If

you want access to what I'm doing with

this kind of information in real time,

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members. I'm Keith D here to talk

everything money and markets. And if you

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whatsoever, be sure to hit that like

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time, peace.