Kharg Island, Inflation, Gold Oh My

In this episode of FSD 67, Ram Ahluwalia of Lumida Wealth Management breaks down the high-stakes geopolitical chess match involving Iran, the Strait of Hormuz, and the potential seizure of Kharg Island. Ram explains the "asymmetric war of attrition" currently playing out and why the U.S. faces a difficult choice between variable-cost "cost imposition" and high-fixed-cost occupations. The discussion pivots to the "pro-cyclical" dangers of private credit, where liquidity risk is rapidly morphing into credit risk. Ram also analyzes the "face-ripping rally" potential once oil prices stabilize and why holding elevated cash remains the winning strategy while waiting for a definitive change in the facts on the ground.

Episode 109 of the Lumida Wealth : Non-Consensus Invest Beyond the Ordinary podcast, hosted by Justin Guilder, titled "Kharg Island, Inflation, Gold Oh My" was published on March 23, 2026 and runs 28 minutes.

March 23, 2026 ·28m · Lumida Wealth : Non-Consensus Invest Beyond the Ordinary

Summary

In this episode of FSD 67, Ram Ahluwalia of Lumida Wealth Management breaks down the high-stakes geopolitical chess match involving Iran, the Strait of Hormuz, and the potential seizure of Kharg Island. Ram explains the "asymmetric war of attrition" currently playing out and why the U.S. faces a difficult choice between variable-cost "cost imposition" and high-fixed-cost occupations. The discussion pivots to the "pro-cyclical" dangers of private credit, where liquidity risk is rapidly morphing into credit risk. Ram also analyzes the "face-ripping rally" potential once oil prices stabilize and why holding elevated cash remains the winning strategy while waiting for a definitive change in the facts on the ground.

Episode Description