Global Market Chaos, Inflation & the New World Order brings veteran trader Chris Tubby to the mic with Two Blokes Trading to explore a world grappling with unprecedented macroeconomic disruption. Covering everything from rampant inflation and trade wars to mounting global debt, Tubby provides his expert insight on how to hedge your portfolio using gold, crypto, and options. He dissects the implications of an imminent Fed rate cut, evaluates the U.S. dollar’s fragility, and frames market sentiment in the context of evolving geopolitical forces. Accessible yet deeply informed, this is essential listening for traders seeking clarity amid chaos.

What You’ll Learn in This Episode

In this episode, Chris Tubby and Two Blokes Trading unpack the storm enveloping global markets. They trace the roots of inflation—from post-pandemic supply shocks and fiscal stimulus to ongoing trade wars and regulatory pressures—while highlighting macro dependencies across asset classes. With tariffs disrupting supply chains and climate-related risks escalating, Tubby illuminates how to position for volatility using hedges like gold and crypto, deploy tactical options strategies, and interpret shifts in sentiment. He also breaks down looming policy moves—the dynamics around September’s Fed meeting and potential rate cuts—and explains the feedback loops between central bank policy and currency markets, particularly the U.S. dollar. Whether you trade forex, equities, or commodities, this episode arms you with insight to navigate a rapidly changing new world order.

About Jonathan Farrelly – Host

Jonathan started his trading journey over 15 years ago, learning from some of the best institutional traders in the world. Over the last 9 years Jonathan has taught thousands of retail traders how to successfully navigate financial markets. He has evolved Two Blokes Trading with new technologies to offer traders a fully immersive experience. Jonathan’s ethos has always been based on transparency, with the goal of helping new and experienced traders achieve their financial objectives.

About Chris Tubby

Chris Tubby brings over 50 years of experience traversing every major financial asset class—from commodities and FX to financials and technical trading strategies. His depth of expertise spans fundamental analysis, sentiment interpretation, and chart-based execution. Known for adaptability, discipline, and a holistic outlook, Chris equips traders with the skills and perspective needed to outperform complex market environments.

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This episode is brought to you in partnership with Forex.com, a leading provider of online trading services. Remember, trading Forex and CFDs carries risk and isn't suitable for everyone. Pay the bills like, mean, you can hardly afford to buy a house on two wages, let alone one these days, right? I mean, what is going on in debts, trade wars? Like, there's so much at the moment. I mean, like we're talking about kind of a new world order, but what's going on in the markets right now? Inflation.

Hello and welcome back to another episode of Two Blokes Trading. Today is a special one. I'm delighted to announce that Chris Tubby is officially joining us as one of the blokes. Chris has over 50 years of trading experience and not only will he be sharing his insights here on the podcast, but inside the Two Blokes Trading app, you'll be able to chat with us directly, join our live trade rooms, access our analysis, webinars and education. Speaking of webinars, our very first free webinar is on the September just before the big Fed meeting. So make sure to download the app and don't miss out. You've mastered all asset classes at this stage.

Right, you've seen that gold just keep going higher and higher and higher and I think, you know, people want to put their money where they feel comfortable. Google's investing like another 100 billion I think it is. When are they going to start to get that money back? Everyone used to go mad because of blame all the miners for Bitcoin. Look at the amount of energy you're using. Look at the amount of energy that's used to produce AI. It's not just electricity, but it's also water.

Let's get into today's episode. Geopolitics, global debt, the dollar, and a new world order that's shaping markets right now. Chris, I'm delighted to welcome you back to another episode of Two Blokes Trading. I'm actually even more excited to announce that you'll be joining us as one of the blokes. I mean, I can't believe it. We've finally done it. We've been speaking about it for a while now, Chris, but I'm really delighted that you're actually going to be joining us on a full-time basis. So thanks for coming on.

Cool. Yeah. Awesome. I look just to say as well, we'll be running our first free webinar on the 16th of September. That's just before the big Fed meeting. So if you guys want to join, download the Two Blokes Trading app and you can actually join myself and Chris live in the markets discussing what's happening around that Fed. We'll be looking at some charts and talking about some of the macros and sentiment around that as well. Right.

Yeah, I mean, all you have to do is tweak your processes really. I mean, the actual structure of the trades is not very different. But of course, volatility increases, decreases, depends where you’re going in those asset classes. It’s just a matter of, you know, okay, so, you know, I started with commodities, then I moved across to the financials. I’ve been a market maker, a prop trader.

Well, I do a morning daily newsletter. So each morning I'm spending the first hour to two hours just reading reports and absorbing all of that information. And I sort of filter that down for the newsletter. So I'm only putting what's relevant to the markets. I'm still reading and absorbing all that because that helps me with my fundamental bias and then...

Bit selfish to say the least is he wants lower rates because it's going to benefit the Treasury. If you look at what they've been spending financing their debt, which is about \$37 trillion and likely to climb up to potentially 40 by the end of this decade, then they're spending as much financing that as what almost as what they do on defense.

And again that's another bump on inflation.

Having numbers. There's seven to the key, the main board, and then there's another 15 of regional ones that are rotated. Some of them come in and swap around. But Trump's even trying to sort of manipulate that if he can, in a way where he gets full indirect control of the Fed. He can't take direct control, but all he wants basically is to place guys there that are either aligned with his thinking or perhaps he thinks that he can control them or influence them in some way to do his bidding, is obviously what he's looking for.

Sure, 100%. But there's that balance, right? There's a reason why they're trying to hold rates. So there's a very good reason for that. And if he wants to get into control and we were seeing like a big slash of interest rates, there's going to be the opposite effect...

You know, okay, so I'm in the UK at the moment, but we've seen food prices go up 40 % since COVID.

Sure. And in terms of stocks, I mean, it's been mixed recently, right? What's your longer term goal on stocks? Especially look, I mean, I've been reading a lot of analysts out there saying, look, I've seen a lot of big players come out in the market, hedge funds even pulling out of US stocks because they're saying like, now within three years, we're going to see a big bang, not just recession, but a big bang in the next three years.

Yeah. A big thanks to our sponsor Forex.com for supporting this show and keeping it free for all of you...

I mean, funny enough, I was actually speaking to one of the original hosts of the podcast today for quite a while today, Tom, and he mentioned like, you know, how the climate is changing as well...

Their wine industry because the quality and the quantity of the grape. I don't know that much about it. I like drinking it, but I don't know much about growing it...

Is caused by La Nina. So you get El Nino and you get La Nina that sort of like weather forces that are out in the Pacific...

Yeah, it's almost becoming an us and them situation, isn't it?

Come out when he got back in as president going, okay, all you guys, you know, we're not going to pay for your defense anymore. You've to pay for it yourself...

Know, where does the judicial area come into that? You know, are they answering to Trump or is Trump answering to them?

Inside America because then they don't have those tariffs. They're selling domestically then. And of course they could benefit from cheaper taxation as well because that's been one of Trump's policies is to reduce taxation, not for the working class, but for everybody else.

But unless there's anything major geopolitically, I just don't think the demand is going to increase...

I had one of the guys I was mentoring this week or the end of last week. He's like, Chris said I want to buy the euro. What should I do against it?...