In today’s rapidly evolving financial landscape, commentary is abundant—and not all of it is created equal. Rather than sifting through the myriad of opinions on what’s being dubbed the “Mar a Lago accord,” we echo the recommendation of Zero Hedge: take a step back and read the original paper from Stephen Miran. This seminal work lays the foundation for what many now refer to as the Trump 2.0 policy framework and provides compelling insights into why investors should be even longer gold and bitcoin.
Instead of various hot takes on a "Mar a Lago accord", just read the original paper from Stephen Miran on which the Trump 2.0 policy framework is based (and why you should be even longer gold and bitcoin). https://t.co/m9y22FLIWo
— zerohedge (@zerohedge) February 22, 2025
A Closer Look at the Trump 2.0 Policy Framework
Stephen Miran’s paper isn’t just another economic analysis—it’s a comprehensive deep dive that ties together fiscal policy, market dynamics, and the geopolitical shifts reshaping our economic outlook. Rather than relying on quick, reactionary hot takes, Miran’s rigorous work invites readers to understand the underlying forces at play. His analysis shows how the emerging policy framework could potentially alter traditional asset valuations, making safe-haven assets like gold and bitcoin more attractive than ever.
A User’s Guide to Restructuring the Global Trading System: Executive Overview
Complementing Miran’s insights is another critical piece of research: A User’s Guide to Restructuring the Global Trading System. This guide presents an executive summary that outlines the longstanding desire to reform international trade—an aim that has been championed by President Trump for decades. The key points of the guide include:
- Addressing Dollar Overvaluation: The guide identifies persistent dollar overvaluation, driven by inelastic demand for reserve assets, as a central factor in international trade imbalances. This overvaluation hampers the natural adjustment of trade flows and places an undue burden on the U.S. economy.
- The Cost of Reserve Assets: As global GDP grows, financing the U.S. reserve currency status becomes increasingly costly, with the manufacturing and tradable sectors bearing the brunt of these expenses.
- Tools for Change: The essay catalogs various tools for reshaping the global trading system. Notably, it discusses the use of tariffs—if appropriately offset by currency adjustments—as a means to generate revenue while minimizing adverse side effects. The analysis draws on experiences from 2018-2019, suggesting that such measures can be implemented with manageable inflationary impacts.
- Currency Policy Options: In addition to tariffs, the guide explores both multilateral and unilateral strategies for correcting currency misvaluations. These policy options, while presenting their own tradeoffs, could offer avenues to mitigate unwanted side effects and rebalance international economic relations.
- Financial Market Consequences: Finally, the guide delves into the potential financial market impacts of these policy tools, offering insights into how their sequencing might unfold to bring about a more balanced global trading system.
This comprehensive overview is not an exercise in policy advocacy but rather an attempt to understand the complex financial market consequences of potential shifts in trade or financial policy. It reinforces the idea that significant restructuring may be on the horizon—one that could fundamentally change the landscape for U.S. industry and global trade dynamics.
Why the Original Analyses Matter
In an era where sound bite journalism often oversimplifies complex economic trends, both Stephen Miran’s paper and this guide offer robust, data-driven perspectives. Engaging directly with these analyses provides investors with a nuanced understanding of:
- Fundamental Policy Shifts: Recognizing that current fiscal and trade policies are signals of deeper, systemic changes.
- Strategic Asset Allocation: Building a portfolio that can weather economic uncertainties by leaning into assets like gold and bitcoin, which serve as hedges against currency devaluation and market volatility.
- Long-Term Wealth Preservation: Emphasizing research and strategic positioning over short-term market fads, thereby ensuring portfolios are resilient in turbulent times.
The Case for Being Even Longer Gold and Bitcoin
If you’re questioning whether to hold—or even expand—your positions in gold and bitcoin, the combined insights from these analyses provide a clear rationale. The detailed discussions on both the Trump 2.0 policy framework and the potential restructuring of global trade highlight how shifts in fiscal policy and currency valuation could erode confidence in traditional fiat currencies. In such an environment, gold and bitcoin emerge not merely as speculative bets, but as critical components of a diversified, long-term investment strategy.
Investors who heed these analyses are better prepared to navigate market volatility, ensuring that their portfolios are insulated against systemic risks while positioned to benefit from eventual realignments in global trade and monetary policy.
Final Thoughts
Before getting caught up in the chorus of trending hot takes, we recommend diving into Stephen Miran’s original paper and considering the broader implications of restructuring the global trading system. Both pieces of research offer a rigorous, comprehensive foundation for understanding the complex forces at work in today’s financial markets. They reinforce the strategic case for bolstering your portfolio with gold and bitcoin and for preparing for a generational shift in economic policy.
For further enquiries or to discuss these insights in more detail, please direct your messages to:
research@hudsonbaycapital.com
By engaging with rigorous analysis rather than fleeting opinions, you empower yourself to make informed decisions that stand the test of time. Happy reading and strategic investing!
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