Palisades Gold Radio (w/ Adrian Day): Negative Real Rates Means More Inflation Ahead


Palisades Gold Radio
Apr 13, 2023

Tom welcomes Adrian Day back to the show. They discuss the lag in economic consequences as a result of rate hikes and changes in monetary policy. Adrian notes that the impacts vary depending on market sector, and that the overall economic effect has yet to be felt. He explains that during lockdowns, spending patterns changed, and coming out of them, the spending habits changed again, with savings rates collapsing back to pre-COVID levels and credit card balances rising. Consumers are feeling the pinch, and more debt defaults and corporate bankruptcies are likely to come.

Adrian then discusses three areas where they are finding yield in this environment. He is not a major bull on the price of oil, but does not expect a major decline either. He also notes that due to a slowing global economy, some ESG targets may not be achievable for a while. He is looking for opportunity in copper and lithium companies.

He believes that the market is underestimating Fed Chair Jerome Powell’s will to cause a recession, and that the Fed is willing to see markets decline significantly. As such, he feels that the markets are being overly optimistic in assuming that rates will decline by the end of the year. In his opinion, central banks have entered a complex situation of their own making, and cannot kill inflation without causing a recession and further problems in the financial system. He believes that gold is far and away the best asset class to hold during periods of stagflation.


If you wish to contact the author of any reader submitted guest post, you can give us an email at and we’ll forward your request to the author.

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.


Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © 2022 Dinar Chronicles



Please enter your comment!
Please enter your name here