Coin Stories with Natalie Brunell

Luke Gromen: Dollar System is Breaking and Markets Aren't Ready

174 snips
Jan 20, 2026
Guest
Luke Gromen
Luke Gromen, founder of FFTT and a keen macroeconomic analyst, dives into the crumbling post-1971 dollar system and its implications for global trade and Bitcoin. He highlights Japan's looming debt crisis and the rising significance of gold over U.S. Treasuries. Gromen discusses how the U.S. may be secretly exporting gold to China and critiques the markets' complacency amidst growing geopolitical risks. He reveals his personal decision to sell Bitcoin and share insights on how AI could destabilize financial jobs while reshaping societal dynamics.
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INSIGHT

Japan Is The First Tipping Point

  • Japan's bond market and yen are the first big risk in the post-1971 dollar system breakdown.
  • A JGB sell-off could force Japan to sell Treasuries and lift global yields rapidly.
INSIGHT

You Can't Have Both Empire And Reserve Status

  • The U.S. cannot both keep dollar reserve status and fully reshore its defense industrial base.
  • That tension pressures a shift toward a neutral reserve asset like gold.
INSIGHT

Fed Balance Sheet Lost Its Gold Backbone

  • The Fed's balance sheet used to be gold-heavy and now is mainly long-duration Treasuries and MBS.
  • Restoring historical gold ratios implies gold prices far above current levels.
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