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The Mr. X Interviews: Volume 1: World Views from a Fictional US Sovereign Creditor
How is the US’ relationship with the world changing after the 2008 financial crisis? Why is that relationship changing? What will those changes potentially mean for the US and global economies? We rarely hear such topics discussed in the mainstream media, and the little we do hear tends to be brief and topical. That’s why, in Mr. X, Luke Gromen presents us with a conversation between himself and a fictional US sovereign creditor to give us an outsider’s look into how the changing role of the US dollar in the global economy could drive meaningful shifts in financial and geopolitical policies in coming years. Luke Gromen is the founder of FFTT, LLC (“Forest for the Trees”), a research firm that aggregates a wide variety of macroeconomic, thematic, and sector trends to identify investable, developing economic bottlenecks for its customers. He wrote Mr. X to give voice to a number of seemingly disparate trends all pointing to major changes developing in the global economy. This book gives a brief and incisive look at why the world needs the US dollar less and less. In Gromen’s conversations with Mr. X, readers will • Why the global currency system is undergoing the biggest change in 50-70 years • Who is driving this change • Who the winners and losers of this change could be • What signposts to watch for that will signal what is happening with this change • How to position one’s own assets to benefit over time from this change in the global currency system Luke Gromen believes that arguably the most undervalued assets on Wall Street are history books. In Mr. X, he provocatively explains how we are repeating history, and what that might mean for a variety of asset classes and for readers’ financial well-being.
172 pages, Kindle Edition
Published December 25, 2018
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Displaying 1 - 6 of 6 reviews
March 20, 2019
Pre-crisis I used to subscribe to BCA. Every once in a while they'd feature an interview with Mr. X, whom the readership understood to be the retired founder. It was all a bit pompous and self-important, but it was alright.
---> this is not the Mr. X from BCA
Not to put too fine a point on it, this is a strong candidate for the worst book I've read.
Don't know if you remember the shady character type who talks a big game to Arnold Schwarzenegger's wife in "True Lies," but that's the overall quality of the conspiracy-theoretical hocus pocus that passes off as analysis here: severely tired stuff from the depths of the twentieth century that speaks to 15% (tops!) of GDP and 0% of future GDP growth.
I would not normally confess to having read it, but if I can save somebody from wasting time on it, then it's worth it to admit I was duped into paying good money for "the Mr. X Interviews."
A couple positives:
1. it's short
2. if drivel of this lowest order can make it into print, there's hope for everyone
---> this is not the Mr. X from BCA
Not to put too fine a point on it, this is a strong candidate for the worst book I've read.
Don't know if you remember the shady character type who talks a big game to Arnold Schwarzenegger's wife in "True Lies," but that's the overall quality of the conspiracy-theoretical hocus pocus that passes off as analysis here: severely tired stuff from the depths of the twentieth century that speaks to 15% (tops!) of GDP and 0% of future GDP growth.
I would not normally confess to having read it, but if I can save somebody from wasting time on it, then it's worth it to admit I was duped into paying good money for "the Mr. X Interviews."
A couple positives:
1. it's short
2. if drivel of this lowest order can make it into print, there's hope for everyone
March 20, 2021
A useful overview of the petrodollar system and how over the last two decades the global economy has been moving away from a USD-centric economy. This book argues that the next monetary reset would most likely use a neutral monetary asset to revalue currencies such as gold, which makes another good reason for individual investors to own gold for the long term. the last few chapters also discuss how Trump’s economic policies of tariffs ultimately weakens the dollar since the dollar only maintains global dominance so long as other countries purchase treasuries. Tariffs ultimately create more tension between the US and other countries so they seek to purchase gold or other assets rather than US treasuries.
The US current deficits and off the book medical and Medicaid expenses and retirement costs for the baby boomer generation have made the US an insolvent nation financially and this is only compounding annually until it eventual explodes. The author argues that Asia, specifically China and Russia, are taking a more dominant position in accumulating assets such as oil and gold and are circumventing the petrodollar system by purchasing commodities in either their local currencies or gold.
The author argues that there are ultimately only 2 options for the US moving forward to remedy the deficits and lack of global dominance. Revalue the dollar in relation to gold (increasing gold’s value in nominal terms of US dollars). Or war with China and Russia, who have been aware of the US’s insolvent finances for the past two decades as the author documents with various sources. Ultimately the war option isn’t sustainable since the US can’t even afford to pay for baby boomers’ retirement, then war would only exacerbate inflation and other financial hardships for the US.
This is a useful overview of macroeconomics for all investors and puts together the pieces well of how commodities are being dominated by Asia. Previously England was the dominant global power, followed by the US, and now it is shifting to China. Gromen makes the interesting argument that China accumulating gold and not shipping any gold outside of China, is replicating a type of Bretton woods system to give more credibility to the Chinese Yuan for global trade rather than the dollar which is pegged to nothing.
The US current deficits and off the book medical and Medicaid expenses and retirement costs for the baby boomer generation have made the US an insolvent nation financially and this is only compounding annually until it eventual explodes. The author argues that Asia, specifically China and Russia, are taking a more dominant position in accumulating assets such as oil and gold and are circumventing the petrodollar system by purchasing commodities in either their local currencies or gold.
The author argues that there are ultimately only 2 options for the US moving forward to remedy the deficits and lack of global dominance. Revalue the dollar in relation to gold (increasing gold’s value in nominal terms of US dollars). Or war with China and Russia, who have been aware of the US’s insolvent finances for the past two decades as the author documents with various sources. Ultimately the war option isn’t sustainable since the US can’t even afford to pay for baby boomers’ retirement, then war would only exacerbate inflation and other financial hardships for the US.
This is a useful overview of macroeconomics for all investors and puts together the pieces well of how commodities are being dominated by Asia. Previously England was the dominant global power, followed by the US, and now it is shifting to China. Gromen makes the interesting argument that China accumulating gold and not shipping any gold outside of China, is replicating a type of Bretton woods system to give more credibility to the Chinese Yuan for global trade rather than the dollar which is pegged to nothing.
May 5, 2021
Ignore the 1 star review. The set up of the book is indeed cheesy but the information is all very insightful even few years afterwards. Luke has a great way of using history and economics to show you patterns that might soon be repeating. All based on the strongest fundamental macro backdrops.
I been following Luke since 2017 and he was one of the first to call for gold's moves from research firms I follow(I am a client with Goldman so I get their papers too). He isn't correct about everything but his long term structural view of US and it's sovereign debt is something that history shows just repeats it self. You can look at Weimar republic, The British Empire, Ancient Rome, Holland of the 17 century. This is just what happens when you financial to the most extreme and end up having no production/manufacturing capabilities when you become a reserve currency.
I won't go too in depth but it is a great short book to read if you want to know the structural macro issues with the future of the US economy and specifically the USD as a reserve currency.
I been following Luke since 2017 and he was one of the first to call for gold's moves from research firms I follow(I am a client with Goldman so I get their papers too). He isn't correct about everything but his long term structural view of US and it's sovereign debt is something that history shows just repeats it self. You can look at Weimar republic, The British Empire, Ancient Rome, Holland of the 17 century. This is just what happens when you financial to the most extreme and end up having no production/manufacturing capabilities when you become a reserve currency.
I won't go too in depth but it is a great short book to read if you want to know the structural macro issues with the future of the US economy and specifically the USD as a reserve currency.
Read
July 2, 2023A good one for those who like learning the behind-the-curtain reality of things, and those who enjoy a story-like structure to otherwise dry concepts.
Not recommended for those who enjoy interview-style formatting of information, as most of the book is written this way. Some of the concepts can get a bit technical.
Overall I think it's a fine pair of books and I learned plenty from them.
Not recommended for those who enjoy interview-style formatting of information, as most of the book is written this way. Some of the concepts can get a bit technical.
Overall I think it's a fine pair of books and I learned plenty from them.
October 13, 2019
Amazingly issue and so well told
Loved every page. Will be thinking about this for some time to come. Anyone with investments or debt should read
Loved every page. Will be thinking about this for some time to come. Anyone with investments or debt should read
January 27, 2020
Mr. X Interview...Wonderful
Incredible book. The kindle version is superior. The financial profligacy of American politicians will be felt by U.S. citizens. The U.S. dollar is vulnerable. Learn more by reading this book.
Incredible book. The kindle version is superior. The financial profligacy of American politicians will be felt by U.S. citizens. The U.S. dollar is vulnerable. Learn more by reading this book.
Displaying 1 - 6 of 6 reviews