The Jacob Shapiro Podcast Leverage on Leverage on Leverage
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Oct 10, 2025 Rob Larrity, a market commentator with expertise in macroeconomics and precious metals, dives into the current financial landscape. He discusses why gold prices are soaring, driven by central bank buying and cautionary ETF flows. Rob also explores the volatility in private equity, warning of liquidity crises and desperate fundraising. The conversation covers the speculative bubble in data centers, AI infrastructure's overcapacity, and rising coffee prices due to tariffs and weather issues, providing a comprehensive overview of today's economic uncertainties.
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Central Banks Are Rebalancing Into Gold
- Central banks are aggressively buying gold, driving a surge in official reserves relative to U.S. Treasuries.
- That shift reflects reserve diversification and rising concern about fiat and dollar weakness.
Don't Buy Gold At Peak Momentum
- Avoid jumping into gold at current frothy levels because momentum readings are historically overbought.
- Wait for a reset or digestion period before adding significant physical exposure, says Rob Larrity.
Gold Follows Money Supply, Not Exponential Hype
- US money printing and reserve allocation both underpin higher gold demand over time.
- But long-term gold gains will track money supply growth plus a risk premium, not runaway exponential returns.
