Paul Buitink interviews independent macro analyst and former ING asset manager Alfonso Peccatiello in the beautiful Italian restaurant Le Due Sicilie in Amsterdam. Alfonso now runs the newsletter The Macro Compass.

They discuss a range of topics from bond yields and inflation, to the (Dutch) real estate market and the way society is addicted to credit sugar rushes leading to ever bigger debt crises. Alfonso reflects on the impossibility of central bank policy and the environment of the rising debt mountain that can only be serviced with lower real yields. He also lays out the different end game scenario's including gold and bitcoin.

If there is one book he advises you to read about the financial system it's The New Economics, A Manifesto, by Steve Keen.

This episode was sponsored by Holland Gold, the number one gold and silver dealer in The Netherlands and Belgium. More info on https://www.hollandgold.nl.

Follow Alfonso here:
  / macroalf  
https://themacrocompass.substack.com

Follow Paul here:
  / paulbuitink