Hedgeye, Released on 7/2/25

Join renowned economist Daniel Lacalle and Hedgeye CEO Keith McCullough for a timely and powerful “Real Conversation” on the future of money. As governments around the world spiral deeper into debt and inflation becomes an entrenched policy tool, trust in fiat currencies is eroding fast. Central banks have abandoned restraint, enabling runaway spending and weakening their own credibility. But alternatives are rising. Gold and Bitcoin are stepping in where central banks have failed—offering decentralization, independence, and real value in an increasingly unstable world. Lacalle and McCullough unpack the global implications of this monetary shift—and why the era of unchecked fiat power may be coming to an end.

Daniel Lacalle, PhD, economist and fund manager, is the author of the bestselling books Freedom or Equality (2020) and Escape from the Central Bank Trap (2017). He is a professor of global economy at IE Business School in Madrid and Chief Economist at Tressis SV. Ranked as one of the top twenty most influential economists in the world in 2016 and 2017 by Richtopia, he holds the CIIA financial analyst title, with a postgraduate degree in higher business studies and a master’s degree in economic investigation. He is a member of the advisory board of the Rafael del Pino Foundation and Commissioner of the Community of Madrid in London. His work can be found here.

Mr. Keith R. McCullough is the Founder and CEO of Hedgeye Risk Management LLC. He covers the strategy sector at the firm. Prior to founding the firm, Mr. McCullough was a Partner, Portfolio Manager, and Managing Director at the Carlyle-Bluewave Partners hedge fund. Prior to that, he was a Portfolio Manager at Magnetar Capital; a Founder, Managing Partner and Co-Portfolio Manager at Falconhenge Partners, LLC; and Partner, Executive Vice President and Portfolio Manager at Dawson Herman Capital Management. Mr. McCullough got his start as an Institutional Equity Sales Analyst at Credit Suisse First Boston. He is currently co-chair of the NYC Bipartisan Policy Center; he writes regularly for Fortune and Forbes and is the author of the popular book, Diary of a Hedge Fund Manager.

  Daniel Lacalle, economy, investing, Keith McCullough