David Roche
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
David Roche demonstrates the Navigator archetype throughout this interview, consistently orienting complex geopolitical and macroeconomic terrain with calm, long-range clarity. He charts interconnected currents across China's overreach, deglobalization, European resilience, and post-COVID inflation with the measured confidence of someone who has built a 30-year independent research practice on identifying tectonic shifts before consensus catches up.
“I would certainly hold gold because I think gold price is probably going to go to 2,500 even this year. But it does provide a hedge against the debasement of currencies which are part and parcel of all this because after all what I see happening as regards monetary policy in this sort of environment is that central banks and finance minis…”
“They weren't very much to begin with, and now they're less. So what that actually does is make the RMB look like a carry trade. You can get 2% for one-year paper. So why wouldn't you take that? And you've actually seen capital flows into both Hong Kong and into Reminb.”
“Yes, I think we'll all be surprised to come back in 10 years and find the euro is still there and Germany is still leading it and the weak economies are still the weak economies and that we've been through umpteen crises and none of it actually meant the five days left to save the euro if I remember the headline.”
“And the final point I would make is that while all this is happening, certain types of services provided to individuals and so on, like the FANGs, like Facebook, like Google, and so on, are going to become even more world dominant.”
Money Maze Podcast: “David Roche - Thoughts from Hong Kong : Founder, Independent Strategy and former Head of Global Strategy , Morgan Stanley”
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