Goldfinger Capital, Released on 3/10/26 (Recorded on 3/9/26)

00:00 Intro
02:12 Luke’s take on market complacency
04:50 What happens if the Iran operation lasts for another six months?
05:50 “I’m as concerned as I’ve been in my entire career”
07:05 Luke entered 2026 very cautious with 50% cash/T-Bills/gold
08:45 The pace of improvement in AI is incompatible with debt-based system
10:10 Systemic lack of 2nd and 3rd derivative thinking
13:00 Iranian regime is still in power
15:30 China has 200 days of oil stockpiles
18:50 Iran operation is reminiscent of April 2025 “Liberation Day”
20:50 Supply chain fragility and the “virtually unlimited supply of weapons”
25:20 The Pentagon knew it could not win the Vietnam War in 1965
26:01 Erik Prince’s warning “world military affairs just experienced biggest change in 800 years”
30:25 Russia is outproducing NATO by a ratio of 4-1
33:50 Existential threat to China & potential catastrophe
39:25 Rising rates and a falling currency = death spiral
42:00 China operates by a different set of principles
45:40 AI race with China but we built data centers in the UAE and Saudi Arabia
48:20 How do we onshore and rebuild the U.S. raw materials supply chain without high inflation?
52:25 Identify the correct first principle
53:55 A lot of investors betting on recession in order to justify long bond positions
56:24 Gold upside potential and how should we value gold?
1:00:10 Gold “isn’t used for anything” so when it goes to $40,000 nothing happens
1:00:40 The world doesn’t work with $2,000 silver
1:01:10 Luke’s take on gold miners
1:03:24 Canada’s gold reserves are in the ground
1:05:00 Thank you for your attention to this matter!

Luke Gromen is a graduate of the University of Cincinnati and received his MBA from Case Western Reserve University. He earned the CFA designation in 2003. Luke provides strategic consulting services for corporate executives and is the founder of The Forest For The Trees, LLC, a macro/thematic research firm catering to institutions and individuals.

  AI, investing, iran, luke gromen