Max and Stacy ask what would have happened had China shut down for the past year as did much of the West. Without supplies of goods on which to spend stimulus checks, what would the inflation picture look like? They then ask whether or not China is using this historic moment to burn their Treasure Fleet instead of capitalizing on their manufacturing advantage. In the second half, Max continues his interview with Alasdair Macleod of GoldMoney.com about his latest piece, ‘The Extinction of Gold Derivatives’, and what it has to do with the Nixon Shock and the Basel III net stable funding ratio.
