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At the Taj Mahal, Luke asked Isaacson to describe sunrise over the reflective pool. Luke perceived the inner chamber's echo as a chorus, an om pitch sighted tourists miss.
Luke Gromen argues the US must print money to cap soaring bond yields, as political cuts to defense and entitlements are mathematically impossible without causing a deeper recession and even larger deficits.
Gromen contends that AI is a systemic threat due to high sovereign debt levels, as it will disintermediate high-paying service jobs and erode the tax base at a time when the US government cannot afford any revenue loss.
Gromen says reserve asset diversification will start with gold, facilitated by China's offshore yuan clearing banks in global gold hubs, enabling commodity producers to net-settle trade in gold.
Gromen's base case is that the Fed under Kevin Warsh will cut rates, lie about true inflation running at 12-15%, and attempt to cap gold and Bitcoin prices to funnel capital into the tech sector, leading to a period of high inflation but controlled long-term yields.
Luke Gromen, founder of FFTT LLC, a macro-thematic investment research firm, aggregates public data to identify economic bottlenecks, which are situations that cannot continue due to constraints.
Secretary Bessant unsanctioned Russian and Iranian oil in sequence after prices surged past $110, an action Gromen describes as a desperate attempt to loosen supplies despite strategic conflicts.
Gromen suggests politically connected entities may have front-run oil markets, citing a $500 million short position after a Trump tweet about Iran and a $950 million short position before a ceasefire announcement.
Gromen believes China's potential cutoff of rare earth exports to the US ended the war, as the US military cannot produce interceptor missiles without Chinese rare earths.
Gromen asserts China holds leverage over the US due to dominance in rare earths and electrical equipment, resulting from a patient long-term investment strategy while the US engaged in unproductive wars.
Gromen notes that a quorum of US military components are made in China, creating a strategic vulnerability if the US requires China to produce missiles aimed at itself.
Luke Gromen argues the weaponization of the dollar through sanctions, like kicking Iran out of SWIFT in 2012, has strategically backfired by pushing Russia and China together to develop alternatives.
Gromen suggests this gold outflow indicates China may have already activated a switch, demanding gold for critical goods like rare earths instead of dollars or Treasuries.
Luke Gromen frames the Iran-Hormuz crisis as a potential 1956 US Suez moment, where the US faces a choice between a humiliating pullback or printing money to cap bond yields amid an oil spike.
Gromen notes US interest and entitlement costs reached 102% of federal receipts for the first half of FY2026, creating a dynamic where a recession would force the government to choose between default or money printing.
Gromen highlights a shift in Treasury ownership from patient foreign central banks to leveraged hedge funds, citing a Fed white paper showing 37% of net Treasury issuance over four years went to Cayman Islands entities.