Is the Fed Going to Buy the Gold Bugs?

The central bank leaders in the Fed have been saying, oh, don't worry, we will unwind our balance sheet. We'll bring it back down. But as you say, Stack, if all the other big players start selling all of their treasuries, then how can the Fed conceivably make the case that they will lower their balance sheet back down? Yeah, I mean, the simple answer is they can't. It's all a confidence game. They want people to think they can, but they can't," he said.