This week Vincent Deluard returns to the show to discuss the most important topic in markets today... inflation. After joining the show in February 2023, Vincent was an early inflationista making the case that inflation would not return to 2%. Well, one year later that call has been correct as inflation remains elevated above the Fed's 2% target. The question is, what happens next? Enjoy! -- Follow Vincent: https://twitter.com/VincentDeluard Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/ -- Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii -- (00:00) Introduction (02:17) The Rise Of Secular Inflation (10:50) Mantra Ad (11:56) Geopolitical Risk, Oil & The Inflation Feedback Loop (16:43) The U.S Dollar Is Still The Best Safe Haven (21:21) The Rise Of Fiscal Dominance: Gradually, Then Suddenly (26:08) The Inflation Spiral (35:39) Permissionless Ad (36:17) A Recession Free Future (42:18) Oil -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.