Steve Hanke is a professor of applied economics at the Johns Hopkins University. He is best known for his work as a “money doctor”, advising inflation-beleaguered countries on how to implement reforms. He is also a currency and commodity trader.

Professor Hanke told us his three top commodity picks right now are lithium, vanadium and gold.

He said he sees battery demand to store solar and wind power off-grid driving lithium and vanadium higher.

Meanwhile, he’s bullish on gold despite his forecast the US economy will see inflation drop below the Fed’s 2% target by the end of the year.
The professor previously called for a “whopper” of a recession in the US for 2023, although he later pushed that out to 2024.

He clarified that he now believes the recession that awaits could be mild, although he’s certain it will come, arguing it is “baked in the cake” due to the contraction of the money supply.

Speaking about his biggest trading successes, Professor Hanke explained how he’d predicted OPEC would temporarily fall apart in the mid 1980’s, allowing him to make a killing by shorting oil.

Professor Hanke also spoke about his illustrious career as a “money doctor”, helping to avert hyperinflations by advising governments in countries including Bulgaria, Ecuador, Estonia, Lithuania and Montenegro.

He said Argentina’s new right-wing president Milei has made a “fatal” error by U-turning on his election pledge to shutter the central bank and dollarize. The professor insisted the Milei government’s new plan to have a dual-currency system would not work due to the country’s long record of economic profligacy and debt monetisation.

Timestamps:
00:00 recap
01:27 important warning
01:51 which recent narratives are false?
10:07 when does Steve predict a recession?
15:35 what can the FED do to combat inflation?
18:12 what predicts inflation beyond the quantity theory?
25:00 does oil still impact inflation?
27:24 will AI have an impact on the growth of real gdp?
31:18 will there be a local bank crisis?
36:52 does Steve Hanke see any profitable big macro events?
39:46 what does Steve Hanke think about gold?
42:51 what does Steve Hanke think about gold in relation to inflation?
47:03 what is Steve Hanke's view on silver?
48:37 what are Steve's top 3 commodities to invest in?
53:39 what does professor Hanke think of the great reset?
59:13 what does professor Hanke teach his students?
01:03:38 what is Steve's view on what is going on in Argentina?
01:06:34 can the dollarization change the economy of Argentina?
01:09:42 what are his thoughts on penalizing bankers for printing money?
01:12:38 is dollarization efficient for Argentina?
01:14:10 what impact has a growing government on investors?
01:15:31 contact details