John Butler has 25 years’ experience in international finance. He has served as a Managing Director for bulge-bracket investment banks in research, strategy, asset allocation and product development roles, including at Deutsche Bank and Lehman Brothers. In the podcast, we talk about: 1. Why stagflation is here. 2. The moral hazard of Fed policy. 3. How to play a stagflation theme. 4. The future path of gold. 5. Why bitcoin won’t replace the dollar (or gold).