Lyn Alden is a macro analyst, investment strategist and the author of Broken Money. In this episode, we discuss the structural imbalances underpinning the U.S. trade deficit and its link to the dollar’s status as the global reserve currency. We get into the mechanics of capital surpluses, why U.S. treasuries are at the heart of global liquidity, and how foreign ownership of American assets introduces systemic fragility. We also discuss Bitcoin as a neutral reserve asset,, gold and tariffs, Bitcoin’s market structure, and why $150k might be in sight. Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Lyn Alden: https://x.com/LynAldenContact or https://primal.net/lyn  THANKS TO OUR SPONSORS: IREN: https://www.iren.com/   RIVER: https://river.com/wbd  ANCHORWATCH: https://www.anchorwatch.com/ LEDGER: https://www.ledger.com/  CASA: https://casa.io/