Why 2025 Will Be a Turning Point for Global Trade & GOLD I Michael Harbisch
In this episode of Soar Financially, investment banking veteran Michael Harbisch joins us from Frankfurt to deliver a stark European perspective on the global economic shift. From grinding trade to gold’s breakout, Michael lays out how capital is rotating away from the U.S., why the Fed is paralyzed, and how inflationary tariffs could spark a wave of stagflation.
We dive into Europe’s recession, energy failures, defence spending, and the ECB’s rate strategy — plus why central banks are piling into gold, and why silver is still lagging. If you’re tracking global capital flows, inflation risk, and the future of gold, this is a must-watch.
#gold #tariffs #europe
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👨💼 Guest: Michael Harbisch, Managing Director
🏢 Company: Cantor Fitzgerald
📅 Recording date: April 17th, 2025
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DEUTSCHE GOLDMESSE
May 16 & 17, 2025 in Frankfurt, Germany
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00:00 Intro
00:45 Welcoming Michael Harbisch
02:10 Europe’s “wake-up call” on defense and energy
04:30 Capital fleeing U.S. — back to Europe?
06:00 Recession risks & failed energy policy in Germany
08:40 ECB vs Fed: Rate cut divergence
10:20 Trade grinding to a halt
12:00 Tariffs, inflation & the Fed’s silence
13:45 “Stagflation” — the word no one dares to say
15:30 Trump vs Powell — scapegoat setup?
17:00 Key macro signals to watch
19:10 Europe’s tech & energy decoupling from the U.S.
21:40 The gold breakout and why central banks are buying
26:00 Gold miners vs generalists — what’s next?
29:30 Silver’s lag and future role
31:00 Where would Michael invest €1 million today?
32:30 Closing thoughts & follow Michael
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