Hypernormal Investing: Growing Capital & Protecting Wealth Amid Radical Uncertainty
Do not have it yet? Parasocial is a podcast player by Super Simple.
Subscribe to Hypernormal Times on Substack. Damian Pudner — monetary economist, founder of the Great British Think Tank (GBTT), former Head of Rate Sales for EMEA at UBS. A 25-year rates trader turned monetary economist explains why UK gilts trade at a "moron premium," why he'd scrap the Bank of England's 2% inflation target, and how he's actually positioning his own portfolio in bonds, equities and gold. Damian explains why he's a "broad money" monetarist, why the Bank of England's 2% inflation target should be scrapped in favour of nominal GDP targeting, and why the Monetary Policy Committee needs more practitioners and fewer career academics. He unpacks the UK's persistent gilt-market "moron premium," lays out what a modern-day version of the 1976 IMF crisis could look like, and shares how he personally allocates across equities, short-duration bonds, gold and, notably, not Bitcoin. The conversation also covers Gary Stevenson's wealth-inequality argument, the real economic impact of AI, and why Damian believes Britain needs a Thatcher-, Reagan-, or Milei-style reset before the next election cycle. UK gilts, Bank of England, monetary policy, inflation target, nominal GDP targ