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cover of episode Lyn Alden: Challenge America’s Trade Deficit, Challenge The U.S. Dollar | Alden on China, Gold, and Financial and Economic Impacts of Tariffs

Lyn Alden: Challenge America’s Trade Deficit, Challenge The U.S. Dollar | Alden on China, Gold, and Financial and Economic Impacts of Tariffs

2025/4/11
logo of podcast Monetary Matters with Jack Farley

Monetary Matters with Jack Farley

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Jack Farley
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Lyn Alden
一位专注于宏观经济和金融分析的投资策略师和研究员,著名于其对比特币和全球流动性的研究。
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Lyn Alden: 我认为美国的贸易逆差是美元作为全球储备货币的结构性问题造成的。由于全球对美元的需求巨大,即使其他国家降低关税,美国仍然难以在制造业方面与其他国家竞争。这导致美国长期贸易逆差,并对不同行业和地区产生不同的经济影响。关税虽然可以作为短期策略,但无法解决根本问题。要解决这个问题,需要更长远的眼光,例如重新平衡全球贸易和资本流动,甚至考虑多极货币体系。 此外,关税对美国经济的影响是立竿见影的,而结构性变化则需要数年甚至数十年时间才能实现。这使得解决贸易逆差的根本问题变得困难。美国市场也容易受到其他国家利用其金融资产进行反击的影响。 至于关税是通货膨胀还是滞胀,这取决于财政和货币政策的应对。如果美联储采取量化宽松政策,则可能导致滞胀。 长期来看,我认为美国将走向一个更加多极化的世界,其中美元的影响力将逐渐减弱,而黄金和比特币等全球性资产将发挥更大的作用。 Jack Farley: 本期节目讨论了美国贸易逆差、关税以及这些因素对全球资本流动和市场的影响。我们探讨了美国政府试图通过关税来平衡贸易逆差,以及这种做法可能产生的经济和金融后果。Lyn Alden 指出,美国与其他国家之间的资本和金融失衡与贸易失衡之间存在联系,并且美元作为全球储备货币的地位是导致美国贸易逆差的一个关键因素。

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To view the prospectus for the VanEck Merk Gold ETF (OUNZ), please visit: vaneck.com/OUNZProspectus)

Learn more: vaneck.com/OUNZJack)

Lyn Alden of Lyn Alden Investment Strategy explains the connection between the capital and financial imbalances the U.S. has with the rest of the world and its trade imbalances which are under so much scrutiny by the current U.S. administration. Alden argues that turbulence in markets, particularly U.S. assets, could continue, and warns listeners not to be exposed beyond their risk limits at a juncture that could be a historic time for markets and the global economy. Recorded April 10, 2025.

Follow Lyn Alden on Twitter https://x.com/LynAldenContact)

Follow Jack Farley on Twitter https://x.com/JackFarley96)

Lyn Alden’s book, “Broken Money”: https://www.amazon.com/Broken-Money-Financial-System-Failing/dp/B0CG8985FR)

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The material must be preceded or accompanied by a prospectus. Before investing you

should carefully consider the VanEck Merk Gold ETF’s (“OUNZ” or the “Trust”)

investment objectives, risks, charges and expenses.

An investment in the VanEck Merk Gold ETF (“OUNZ” or the “Trust”) is subject to

significant risk and may not be suitable for all investors. OUNZ is not an investment

company registered under the Investment Company Act of 1940 (the “1940 Act”) and

therefore is not subject to the same protections as mutual funds or ETFs registered

under the 1940 Act.

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including but not limited to the potential for the price of gold to decline during

the time between the submission of the request and delivery. Delivery may

take a considerable amount of time depending on your location.

The Sponsor for the Trust is Merk Investments, LLC. The Marketing Agent for

the Trust is Van Eck Securities Corporation.

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© Van Eck Associates Corporation