Luke Gromen is the man! I’ve listened to a lot of macro people and don’t listen to them much anymore. But Luke stands out with his deep knowledge. I jump at every opportunity to listen to him.
I think Robert expressed it best at ~40mins, "whoa". They way Luke breaks down the ultimate impact to humanity of monetizing oil is a moment for pause... Great discussion gentlemen, thank you.
Wow, the explanation of why oil for gold as the way forward was brilliant. I had never thought of the utility value , or lack there of , in gold as the exchange for oil equation.
The description of the EU / eurozone’s actions seems much more competent than what we usually oberve. Would be interesting if you could have a guest that is in the game of designing these systems. The must have enourmous expertise and the resolve to cut through all the political red tape. Must be kind of people with academic-tier knowledge but realpolitik/ideology-free pragmatism
At 1:02 they talk about the poor use of debt by usa. Yes, as a country it was bad but for certain business and politicians it was and is very profitable. These type of people dont give a shit abiut other people or their country.
great information but I cant stop every few minutes to skip commercials. I think this is why you dont have more subs. It breaks up the flow of the conversation. Do less commercials and your channel will grow then do them at beginning or end and you make more money cause youll get more subs. people hate this . just helpful criticism
great information but I cant stop every few minutes to skip commercials. I think this is why you dont have more subs. It breaks up the flow of the conversation. Do less commercials and yopur channel will grow then do them at beginning or end and you make more money cause youll get more subs. people hate this . just helpful criticism
@@daughtersdaddy8928 Well it sucks put them at the beginning or the end. I listen when I am working. When it has commercials like this I just wont listen. Im not gonna stop what Im doing every five minutes and I'm not listening to ads. It breaks up the conversation. It is a bad model. He should find a new way.
What if someone comes out with another crypto that does the exact same thing as BitCoin? How will countries agree to use a Bitcoin if they have their own and also have the resources?
Because competition is a non-issue. Every new copy of Bitcoin has a pre-sale or pre-mine to institutional investors. They have a foundation of insiders that make protocol decisions and own a large % of supply. And this would create an unfair distribution of tokens. Digital scarcity can only be discovered once.
@@nick-oi1xf It's a young corporation that has a good operating profit margin with the gold prices of the last couple of years. If gold increases in value, that profit margin will only increase. It's like getting in at the ground floor. Of course if you're not interested, you don't have to buy.
Well… to create gold in a lab you’d have to apply the same energy as a supernova… not happening anytime soon. However, BTC could spur orbital mining, which could enable us to get that 2000 trillion gold nugget in the asteroid belt.
Raising rates to crash demand for oil is exactly what J Powell is doing, and precisely for that reason. Oil is going to leave Man long before Man is ready to leave oil. And it's all going to end, not with a bang, but with a whimper.
The difficulty adjustment ensures that more miners doesn’t change the rate of supply of Bitcoin. Mining would simply become more competitive and costly.
He's probobly right about everything , except he lacks imagination. He can not see where tecnology is going, which over a 10 to 20 year yr time flips his assumptions, while making him right short term. How many people imagined the advancements of the last 10yrs.
1:04:00 You get what we have here, which is the way he wants it. Well, he gets it. I don't like this any more than you men. (Whislting WHOOOOOooo whooo hwooooo)
Saudi will never self consume all the oil they produce. Why would Luke even contemplate that scenario. It’s insane. He’s assuming they run out of oil….highly unlikely! Have a well on my land over 100yrs old and still producing, along with natgas produce from the same well! Saudis will find a new oil field, it’s a huge country.
