Curia Investment Show 14: Warsh, Abenomics & the Liquidity Cycle — Fed–Treasury Tensions, Debt Monetization, Gold Volatility & Defensive Rotation

In this episode of the Curia Investment Show, we explore whether the global liquidity cycle may be entering a new phase.Kevin Warsh signals interest in greater separation between the Federal Reserve and the Treasury — raising deeper questions about debt monetization, balance sheet reduction, and how much room policymakers really have to withdraw liquidity without destabilizing markets. We examine what that could mean for asset prices, the dollar, and financialization more broadly.We also look abroad, where Japan appears to be leaning back into Abenomics-style coordination between fiscal and monetary policy. Is the U.S. quietly moving in a similar direction — and if so, what are the currency implications?Finally, we discuss gold’s volatility, defensive rotation in equities, and what capital flows may be telling us about investor positioning beneath the surface.