Capital Account Rebalancing

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Capital Account Rebalancing

A nasty reminder tariffs slow growth, global imbalances and gold in the '70s and now, the broadest measure of growth was weak in 1H25, financial earnings preview

Barry C. Knapp

Oct 13, 2025

∙ Paid

This is a video summary of our October 13 note, Capital Account Rebalancing

*Figure 2: US gold reserves fell rapidly through the ‘60s as Germany and Japan rebuilt their export capacity and resisted the revaluation aspects of Bretton Woods.*

Barry C. Knapp

Managing Partner

Director of Research

Ironsides Macroeconomics LLC

908-821-7584

bcknapp@ironsidesmacro.com

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