Michael Howell is CEO of CrossBorder Capital, a London-based, FCA-registered, independent research and investment company he founded in 1996. The firm provides asset allocation and capital markets advice to institutional investors and manages US$1 billion of assets. Michael is involved with educational charities and currently advises a major educational foundation on its investment strategy. He brings 40 years of finance experience and is a regular international conference speaker and a media and social media commentator. He has also advised the World Bank on capital flows, co-authoring their publication Opportunities in Emerging Markets (World Bank, 1995), served as board director of a listed Japanese investment trust and recently authored the book Capital Wars (Macmillan, 2020). Previously, he was Head of Research for Baring Securities and a board member, where he focused on Emerging Markets, and Research Director of Salomon Brothers Inc, the US investment bank. Before entering finance, Michael worked as Group Economist for Blue Circle Industries plc. He holds a Ph.D. in financial economics from London University, specializing in Fixed Income, and is an SEC-qualified US Supervisory Analyst. Michael lives in Oxford, England, and is married with four children.
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Episode 357
Michael Howell
Are Gold and Bitcoin Signaling the Return of Money Printing? | Michael Howell
Michael Howell is CEO of CrossBorder Capital, a London-based, FCA-registered, independent research and investment company he founded in 1996. The firm provides asset allocation and capital markets advice to institutional investors and manages US$1 billion of assets. Michael is involved with educational charities and currently advises a major educational foundation on its investment strategy. He brings 40 years of finance experience and is a regular international conference speaker and a media and social media commentator. He has also advised the World Bank on capital flows, co-authoring their publication Opportunities in Emerging Markets (World Bank, 1995), served as board director of a listed Japanese investment trust and recently authored the book Capital Wars (Macmillan, 2020). Previously, he was Head of Research for Baring Securities and a board member, where he focused on Emerging Markets, and Research Director of Salomon Brothers Inc, the US investment bank. Before entering finance, Michael worked as Group Economist for Blue Circle Industries plc. He holds a Ph.D. in financial economics from London University, specializing in Fixed Income, and is an SEC-qualified US Supervisory Analyst. Michael lives in Oxford, England, and is married with four children.
In Episode 357 of Hidden Forces, Demetri Kofinas speaks with the CEO of CrossBorder Capital, Michael Howell, about the run-up in gold and bitcoin prices and whether this signals the return of “money printing” driven by overwhelming government debt and deficit payments.
Michael Howell has had the most accurate economic and financial forecasts of any analyst Kofinas has spoken with in the last several years. Demetri asked him back on the podcast to help explain why risk assets continue to outperform despite higher interest rates and what new all-time highs in gold and Bitcoin signal about global liquidity and investor confidence in the integrity of fiat currencies as reliable stores of value amid skyrocketing government debt and deficits.
In the first hour, Michael breaks down the indicators he relies on to make his forecasts and why he expects economic growth and inflation to reaccelerate this year and into 2025. In the second hour, Howell forecasts which assets and asset classes he thinks will outperform, the direction of interest rates, the steepening of the yield curve, and how the expiration of the bank-term funding program (BTFP), the draw-down in the reverse repo facility (RRP), and a temporary decline in liquidity from tax payments could create buying opportunities for investors over the next several months.
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Michael Howell is CEO of CrossBorder Capital, a London-based, FCA-registered, independent research and investment company he founded in 1996. The firm provides asset allocation and capital markets advice to institutional investors and manages US$1 billion of assets. Michael is involved with educational charities and currently advises a major educational foundation on its investment strategy. He brings 40 years of finance experience and is a regular international conference speaker and a media and social media commentator. He has also advised the World Bank on capital flows, co-authoring their publication Opportunities in Emerging Markets (World Bank, 1995), served as board director of a listed Japanese investment trust and recently authored the book Capital Wars (Macmillan, 2020). Previously, he was Head of Research for Baring Securities and a board member, where he focused on Emerging Markets, and Research Director of Salomon Brothers Inc, the US investment bank. Before entering finance, Michael worked as Group Economist for Blue Circle Industries plc. He holds a Ph.D. in financial economics from London University, specializing in Fixed Income, and is an SEC-qualified US Supervisory Analyst. Michael lives in Oxford, England, and is married with four children.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
Demetri Kofinas is a media entrepreneur and financial analyst whose mission is to help uncover the hidden forces and pivotal patterns shaping our lives. His contrarian perspective and critical-thinking approach has helped hundreds of thousands of people make smarter, informed decisions. This same methodology has helped guide Demetri’s decision-making as an early-stage investor and as a creator of several innovative media properties and live events.
