The Julia La Roche Show · Saturday, August 29, 2026
Chris Whalen highlights the significant increase in gold purchases by China, suggesting it will create upward pressure on gold prices and, consequently, downward pressure on the U.S. dollar. He notes that as central banks diversify reserves away from dollars, it will impact the dollar's role as a global means of exchange.
“So you know that's going to put upward pressure on metal prices, and that is in turn will put pressure on the dollar.”
“Because other central banks are going to say, okay, I don't want to hold half my reserves in dollars. I'm going to hold 40% or 30%.”
“That's the key thing with the dollar. The only reason the dollar held up so well is because people use our money as a means of exchange.”