Judy Shelton

"The debasement of purchasing power in our unit of account is horrendous... Under Powell, since he came in in February 2018, during those eight years, the cumulative inflation is 29%." The Federal Reserve's acceptance of perpetual 2% inflation structurally devalues fiat currency over time. To protect purchasing power against this deliberate and ongoing debasement, investors must allocate capital to hard, non-fiat assets with capped or zero-inflation supply dynamics. LONG hard assets and alternative stores of value as a hedge against systemic fiat debasement. A severe deflationary shock or a sudden, highly unlikely shift by the Fed to a strict 0% inflation mandate could reduce the premium on hard assets.

"The debasement of purchasing power in our unit of account is horrendous... Under Powell, since he came in in February 2018, during those eight years, the cumulative inflation is 29%." The Federal Reserve's acceptance of perpetual 2% inflation structurally devalues fiat currency over time. To protect purchasing power against this deliberate and ongoing debasement, investors must allocate capital to hard, non-fiat assets with capped or zero-inflation supply dynamics. LONG hard assets and alternative stores of value as a hedge against systemic fiat debasement. A severe deflationary shock or a sudden, highly unlikely shift by the Fed to a strict 0% inflation mandate could reduce the premium on hard assets.

"It's so dependent on how long it lasts and what the impact is on energy costs... the impact of potentially much higher energy prices will cause them to raise rates." Ongoing geopolitical conflict involving major Middle Eastern players threatens global oil supply chains. Any escalation or prolonged disruption will immediately price a premium into crude oil, directly benefiting physical energy commodities and domestic energy producers who are insulated from Middle East production risks. LONG crude oil and domestic energy equities as a geopolitical hedge. Rapid de-escalation of the Middle East conflict or a severe global recession that destroys energy demand faster than supply is constrained.

"It's so dependent on how long it lasts and what the impact is on energy costs... the impact of potentially much higher energy prices will cause them to raise rates." Ongoing geopolitical conflict involving major Middle Eastern players threatens global oil supply chains. Any escalation or prolonged disruption will immediately price a premium into crude oil, directly benefiting physical energy commodities and domestic energy producers who are insulated from Middle East production risks. LONG crude oil and domestic energy equities as a geopolitical hedge. Rapid de-escalation of the Middle East conflict or a severe global recession that destroys energy demand faster than supply is constrained.