The Julia La Roche Show · Saturday, August 29, 2026
Chris Whalen predicts that if the Federal Reserve resorts to monetizing debt, gold could become the 'anti-dollar,' with its price soaring. He reiterates that the dollar's strength relies on its widespread use as a medium of exchange, a role that could be threatened by fragmentation if the dollar loses global acceptance.
“If the Fed has to start explicitly monetizing debt because the Treasury just can't handle it anymore in the markets. That's when you're going to start to see what our, uh, friends at Monetary Metals have talked about, a backdation of gold.”
“Where gold becomes, you know, essentially the anti-dollar. And the price of it just goes up. And there's no way for the dollar to catch up.”
“So, much in the same way, if we saw the dollar no longer becoming the default means of exchange in the world economy, you would see fragmentation.”