Great question: I am wondering that myself ... I reposted above to get a bump ....

Increase the velocity of the dollar. This could be done through tax incentives, such as lowering sales/VAT taxes.

Ed Harrison here. I conducted the interview with Dan. So I thought I would make a few points about my experience. On form, I really enjoyed this interview as I found Dan to be a very thoughtful and self-critical analyst. I think it comes through in his presentation. On substance, if your takeaway is that Dan said "sell stocks, buy bonds", you should re-watch the video. That's not what heard him saying in the interview or in the video. In fact, in the intro bit, he explicitly says the opposite. My takeaway from Dan's macro view dovetails with the intro bit because he talks about a 'reflation' that could benefit equities all the way through 2020 despite deteriorating macroeconomic fundamentals. And so the big questions are 1. what forms that reflation will take?, when will it come?, and will it be successful?. For me, his views on Gold and Bitcoin as uncorrelated asset classes follow from there, because, if (or when) the reflation fails, bonds may not offset. At a high level, that's what I heard.

Ed - fair point. I rewatched. In the first 30 seconds Dan says "I think equity comes under pressure in the next 2-3 months which causes the Fed to be easier". Didn't he?

Richard E, I did not watch it twice but I remember him saying after that opening bit about 2-3 months that it was in context of that being the reason trump or the fed steps in and tries to juice the market again. If you believe it will work then stay in equities for another year if you can time it right, but long term he said gold and bitcoin, and possibly ultimately bitcoin. On that note, some are saying it will be a bitcoin w some gold backing and the imf might already be working on it. That’s not to say other bitcoins may not survive and early investors rewarded, but who really knows what will happen. In phase 1 of the great rejig at least, gold feels like the safest bet to me, and I don’t think I will be alone in that thought.

Gold or gold stocks that is....

The S&P is rising off the back of passive funds... they don't come dumber than that! Gold and the stock market often have their best moves together so we will see. Maybe US blue chip will do all the heavy lifting, out side of that I'm not so confident.

Totally off-base. Ever heard of altcoins? :P Not to mention SPX is brutally over-valued.

Yes, because they will be coming under pressure, he's saying the fed will ease more. So that likely means equities will rise.

Richard - One thing not fully captured in the video is the under-current of policy failure in what Dan was talking about. Basically, the Fed has resisted lowering rates again as much as they can because they fear running out of bullets. But in doing so, they may not react quickly enough and 'cause' the recession - meaning (monetary) policy failure could ALREADY be baked in. What happens to equities then? Do bonds offset? Does that lead to a massive fiscal response - despite huge deficits? It's a big issue, one that has made Dan think about Gold and Bitcoin.

any reason why the videos stall so much?

Thanks for bringing him back but I would give a bag of gold or bitcoin for someone who can say WHEN. I know a person who can but he won't comment on financial markets.