McAlvany Weekly Commentary Bill King On Gold: “Where Else Can You Go?”
Oct 1, 2025
Join Bill King, a seasoned macro commentator with decades in trading, as he dives into today's economic landscape. He explores striking parallels between current inflation and the 1970s, fueled by political spending from both Biden and Trump. China’s voracious gold purchases take center stage as a response to economic pressures. Bill also shares investment strategies, advocating for gold in portfolios and analyzing the end of a long bond supercycle. His insights on geopolitical risks and asset price trends make for a fascinating discussion!
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1970s Inflation Is Repeating
- Bill King argues current policy mirrors 1970s inflation dynamics driven by fiscal expansion and money growth.
- He warns that running the economy "hot" without reserve control fuels a repeat of that inflationary cycle.
China's Gold Buying Signals Global Stress
- King highlights China aggressively buying gold as they fight a severe money-supply and debt problem.
- He presents Chinese gold purchases as a sign of global monetary stress and loss of confidence in fiat currencies.
Hedge Dollar Risk With Precious Metals
- Avoid holding large cash positions when fiscal deficits and global money creation are high.
- Consider precious metals as a hedge since gold has historically outperformed stocks during severe inflation episodes.
