Paul Tudor Jones

It's just hard not to see, and I think this is what the market's looking ahead to see, inflation not be rekindled and start up again, 6, 12, and in a more serious fashion, 18 months hence.

You can kind of see it now.

Again, think of this, we have $370 trillion worth of global financial assets, $370 trillion.

So when you come to a market like gold, which is $12 trillion, silver, which is, oh my Lord, a fraction of that, Bitcoin, crypto, which is say $2 to $3 trillion,

It doesn't take very much.

Then you start thinking about the copper markets and some of the other rare earth minerals, and you think about just individual commodities.

Good gosh, the ability to elevate those prices because we have so much, again, money and financial assets.

It just takes a small tweak.

to really begin to create a rise in the price level.

And I think we'll see that, assuming that we have a new Fed chair who's going to take the funds rate down to 2.5%.

And I think the White House is thinking they'd like to see the funds rate at 2.25% to 2.5%.

Well, look, you've got an FX, you've got a fiat money debasement going on pretty much virtually around the world, right?

The bond vigilantes, though, are being held in check by...

again, central banks and populism that are pushing central bankers to run hot.

So the currency debasement trade has really turned into a gold trade and a crypto trade, right?

Bond vigilantes have been shunted to the back

told or been put in abeyance, and instead it's manifesting itself in gold and crypto.

That's really what's going on.

So again, look at the new prime minister of Japan.

She's already advocating for the BOJ to go slow on normalizing rates.