Hidden Forces

In Episode 325 of Hidden Forces, Demetri Kofinas speaks with Michael Nicoletos, the founder and CEO of DeFi Advisors, an independent investment advisory firm specializing in macro and digital assets. Michael and Demetri spend the first twenty minutes discussing Michael’s biography, including his time living and working in the United States. What that experience taught him about the country’s capacity for change and why its embrace of failure is critical to America’s continual economic, cultural, and political renewal is also part of that conversation. The rest of the first hour is spent discussing something that Michael and Demetri often talk about in private: Dollar Doomerism—the perennial anxiety, particularly prevalent in American circles and among American media pundits that the United States Dollar is on the precipice of some kind of collapse or devaluation. The sources of this doomerism, its merits, and what proponents of this view seem to get consistently wrong is what they spend the rest of the first