Raj Shamani's Figuring Out

Modern Wars, Cyber Attacks, Semiconductors & India’s Global Role | Kirttan Shah | FO462 Raj Shamani

7 snips
Jan 24, 2026
Guest
Kirttan Shah
Kirttan Shah, a financial advisor and entrepreneur focused on geopolitics and macroeconomics. He breaks down power shifts from oil to semiconductors. He discusses de-dollarization, sanctions, and gold flows. He analyzes US-China tech tensions, Taiwan’s chip role, and risks of economic polarization. He examines India’s strengths, innovation needs, and investment implications.
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INSIGHT

Gold Replaced Some Treasury Reserves

  • After 2022 many central banks increased gold holdings and reduced US treasury exposure as a hedge.
  • Kirttan Shah notes this is the first time combined global gold reserves exceeded US Treasury reserves.
INSIGHT

Reserve Currency Cycles And US Reindustrialization

  • Reserve-currency status historically shifts roughly every century, so change is possible now.
  • Kirttan Shah argues the US is reacting by trying to reindustrialize and reduce reliance on being a consumption-led economy.
INSIGHT

Sanctions Made The US Look Unstable

  • The 2022 sanctions signaled the US as a potentially unstable partner for holding reserves.
  • This perceived instability accelerates dedollarization and pushes allies to diversify reserves.
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