The End Game

The End Game Ep 35 – Jeff Currie

Episode 35 of The End Game sees Bill and Grant welcome Goldman Sachs Global Investment Research Global Head of Commodities Research, Jeff Currie for a discussion around the current dynamics in the commodities sector and their potential place in The End Game. Jeff’s thoughts on the importance of the only two asset classes in the […]

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The End Game Ep 34 – Greg Jensen

Episode 34 of The End Game sees the welcome return of Bridgewater Associates co-CIO, Greg Jensen who joins us again to reflect on his enormously prescient first appearance just under a year ago.

During that original conversation, Greg called the current inflationary headwinds roiling the worlds of central bankers and consumers alike and explained how what he saw coming would affect policy decisions and consumer behaviour.

In another superb hour of insightful thinking, and with just about everything he predicted now upon us, Greg offers his thoughts on where we stand and what might come next. Central bank policy and credibility come under the microscope as does the current environment for liquidity and we dig into Bridgewater’s very vocal bet against Europe.

This is another tour de force by one of the brightest minds in the global investment community.

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Listen Now »

The End Game Ep 33 – James Aitken

Episode 33 sees the return of James Aitken of Aitken Advisors for his third appearance on the End Game. As you’re about to hear, there’s a very good reason for that – not only does James have as good a grasp on the myriad facets of global markets as anybody, he’s also a brilliant communicator (as we’ve seen in his earlier visits to the podcast).

Now, however, as two years of searching for an End Game moves towards a climax, James offers his thoughts on the predicament in which Kuroda-san at the BoJ finds himself as he tries manfully to stick to Yield Curve Control in the face of a dramatically weakening yen and a bond market which looks in no mood to let him continue to have his cake and eat it.

James also outlines where the Fed, the BoE and the ECB currently stand with a focus on the recent travails of the RBA. This is a true masterclass in macro thinking.

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 32 – Judy Shelton

In the latest episode of The End Game, Bill Fleckenstein and I have the great privilege of welcoming Judy Shelton to the podcast for a discussion that helps place one of the key missing pieces into the puzzle we’ve been attempting to assemble – the honest and frank perspective of a central banking insider.

After her nomination to the board of the Federal Reserve by President Donald Trump in 2018, Judy’s appalling treatment at her Senate confirmation hearings demonstrated the very worst of partisan politics at an incredibly toxic time in America.

A letter signed by 100 economists, including seven Nobel laureates, opposing her appointment suggests, to me, at least, that she would have been the perfect person to bring necessary change to an institution whose many failings are becoming more apparent by the day.

Judy’s openness, insight and willingness to discuss the practicalities and limitations of modern-day central banking in this conversation are a breath of fresh air and worthy of our deepest respect and gratitude.

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 31 – Michael Kao

The End Game is back with a very special guest, the Urban Kaoboy himself, Michael Kao. After stints at Goldman Sachs, Canyon Partners and Akanthos, Michael is now the CIO of the Kao Family Office and, in this stimulating conversation we dig into his dollar wrecking ball theory as well as pulling apart the options […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 30 – Mike Green

The End Game returns after a year-end hiatus and who better to mark that than our first returning guest of the series, the always-dazzling Mike Green of Simplify Asset Management.

In his first appearance back in July 2020, Mike left all those who listened dumbfounded with much of his insight as he explained the rise of passive and the problems it creates for markets unaccustomed to such a dynamic.

This time, Mike turns his attention to politics, geopolitics and markets as well as updating his thoughts on the influence passive investment strategies are exerting over risk markets in every corner of the globe. Once again, Mike demonstrates why he’s such a crucial voice in our search for The End Game.

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 29 – Alex Berenson

Grant & Bill’s guest on the latest episode of The End Game is journalist and author, Alex Berenson, a man who has found himself at the centre of the Covid cancel culture.

This is a fascinating discussion about the End Game for Covid. At what point does the extended control the pandemic has afforded governments end (if at all), and when (if ever) does the power dynamic between the governments of the world and the people who vote them into (and out of) office return to normal?

This will be a polarizing conversation for many, but so much of what is discussed is incredibly valuable in terms of understanding what Covid means for market power dynamics and how big a threat the demise of mainstream journalism poses to us all.

I strongly encourage you to leave any prejudices at the door and listen to a truly enlightening discussion about the pandemic response and what it means for markets, journalism and traditional power structures.

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 28 – Jim Bianco, Bianco Research

Jim Bianco of Bianco Research is the latest guest to grace The End Game and what follows is a masterful dissection of Fed policy, interest rate hike probabilities and the reasons why Jim is fully onboard with the inflationary narrative. Jim explains what he’s seeing in the data to suggest that it may well be […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 27 – Harley Bassman, Simplify Asset Management

Joining Bill and Grant this time on The End Game is Harley Bassman of Simplify Asset Management.  In a lively discussion, Harley slaps both Bill and Grant around with alacrity as he picks apart the connection between rates and inflation, the likely level of understanding at the Federal Reserve about the problems they’re creating, the […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 26 – Michael Howell, CrossBorder Capital

In the financial market context, the word ‘liquidity’ is three very distinct things: overused, misunderstood and crucially important. In the latest edition of The End Game, CrossBorder Capital’s Michael Howell joins Bill and Grant to shed some light on those three key factors, explaining how he views liquidity, why it’s so crucial and what he’s […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 25 – Kyle Bass, Hayman Capital Management

The latest guest to grace The End Game is the familiar voice of Kyle Bass, Founder and Chief Investment officer of Hayman Capital Management in Dallas, TX. Kyle, Bill and Grant discuss Kyle’s thoughts on what The End Game may look like, with the recent outbreak of inflation likely to play a major part in […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game

The End Game Ep 35 – Jeff Currie

Episode 35 of The End Game sees Bill and Grant welcome Goldman Sachs Global Investment Research Global Head of Commodities Research, Jeff Currie for a discussion around the current dynamics in the commodities sector and their potential place in The End Game. Jeff’s thoughts on the importance of the only two asset classes in the […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 34 – Greg Jensen

Episode 34 of The End Game sees the welcome return of Bridgewater Associates co-CIO, Greg Jensen who joins us again to reflect on his enormously prescient first appearance just under a year ago.

During that original conversation, Greg called the current inflationary headwinds roiling the worlds of central bankers and consumers alike and explained how what he saw coming would affect policy decisions and consumer behaviour.

In another superb hour of insightful thinking, and with just about everything he predicted now upon us, Greg offers his thoughts on where we stand and what might come next. Central bank policy and credibility come under the microscope as does the current environment for liquidity and we dig into Bridgewater’s very vocal bet against Europe.

This is another tour de force by one of the brightest minds in the global investment community.

Listen Now »

The End Game Ep 33 – James Aitken

Episode 33 sees the return of James Aitken of Aitken Advisors for his third appearance on the End Game. As you’re about to hear, there’s a very good reason for that – not only does James have as good a grasp on the myriad facets of global markets as anybody, he’s also a brilliant communicator (as we’ve seen in his earlier visits to the podcast).

Now, however, as two years of searching for an End Game moves towards a climax, James offers his thoughts on the predicament in which Kuroda-san at the BoJ finds himself as he tries manfully to stick to Yield Curve Control in the face of a dramatically weakening yen and a bond market which looks in no mood to let him continue to have his cake and eat it.

James also outlines where the Fed, the BoE and the ECB currently stand with a focus on the recent travails of the RBA. This is a true masterclass in macro thinking.

Listen Now »

The End Game Ep 32 – Judy Shelton

In the latest episode of The End Game, Bill Fleckenstein and I have the great privilege of welcoming Judy Shelton to the podcast for a discussion that helps place one of the key missing pieces into the puzzle we’ve been attempting to assemble – the honest and frank perspective of a central banking insider.

After her nomination to the board of the Federal Reserve by President Donald Trump in 2018, Judy’s appalling treatment at her Senate confirmation hearings demonstrated the very worst of partisan politics at an incredibly toxic time in America.

A letter signed by 100 economists, including seven Nobel laureates, opposing her appointment suggests, to me, at least, that she would have been the perfect person to bring necessary change to an institution whose many failings are becoming more apparent by the day.

Judy’s openness, insight and willingness to discuss the practicalities and limitations of modern-day central banking in this conversation are a breath of fresh air and worthy of our deepest respect and gratitude.

Listen Now »

The End Game Ep 31 – Michael Kao

The End Game is back with a very special guest, the Urban Kaoboy himself, Michael Kao. After stints at Goldman Sachs, Canyon Partners and Akanthos, Michael is now the CIO of the Kao Family Office and, in this stimulating conversation we dig into his dollar wrecking ball theory as well as pulling apart the options […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 30 – Mike Green

The End Game returns after a year-end hiatus and who better to mark that than our first returning guest of the series, the always-dazzling Mike Green of Simplify Asset Management.

In his first appearance back in July 2020, Mike left all those who listened dumbfounded with much of his insight as he explained the rise of passive and the problems it creates for markets unaccustomed to such a dynamic.

This time, Mike turns his attention to politics, geopolitics and markets as well as updating his thoughts on the influence passive investment strategies are exerting over risk markets in every corner of the globe. Once again, Mike demonstrates why he’s such a crucial voice in our search for The End Game.

Listen Now »

The End Game Ep 29 – Alex Berenson

Grant & Bill’s guest on the latest episode of The End Game is journalist and author, Alex Berenson, a man who has found himself at the centre of the Covid cancel culture.

This is a fascinating discussion about the End Game for Covid. At what point does the extended control the pandemic has afforded governments end (if at all), and when (if ever) does the power dynamic between the governments of the world and the people who vote them into (and out of) office return to normal?

This will be a polarizing conversation for many, but so much of what is discussed is incredibly valuable in terms of understanding what Covid means for market power dynamics and how big a threat the demise of mainstream journalism poses to us all.

I strongly encourage you to leave any prejudices at the door and listen to a truly enlightening discussion about the pandemic response and what it means for markets, journalism and traditional power structures.

Listen Now »

The End Game Ep 28 – Jim Bianco, Bianco Research

Jim Bianco of Bianco Research is the latest guest to grace The End Game and what follows is a masterful dissection of Fed policy, interest rate hike probabilities and the reasons why Jim is fully onboard with the inflationary narrative. Jim explains what he’s seeing in the data to suggest that it may well be […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 27 – Harley Bassman, Simplify Asset Management

Joining Bill and Grant this time on The End Game is Harley Bassman of Simplify Asset Management.  In a lively discussion, Harley slaps both Bill and Grant around with alacrity as he picks apart the connection between rates and inflation, the likely level of understanding at the Federal Reserve about the problems they’re creating, the […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 26 – Michael Howell, CrossBorder Capital

In the financial market context, the word ‘liquidity’ is three very distinct things: overused, misunderstood and crucially important. In the latest edition of The End Game, CrossBorder Capital’s Michael Howell joins Bill and Grant to shed some light on those three key factors, explaining how he views liquidity, why it’s so crucial and what he’s […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 25 – Kyle Bass, Hayman Capital Management

The latest guest to grace The End Game is the familiar voice of Kyle Bass, Founder and Chief Investment officer of Hayman Capital Management in Dallas, TX. Kyle, Bill and Grant discuss Kyle’s thoughts on what The End Game may look like, with the recent outbreak of inflation likely to play a major part in […] This content is only available for active subscribers. Subscribe

Listen Now »