WTFinance The Biggest Credit Bubble in History with Alasdair Macleod
Dec 26, 2025
Alasdair Macleod, a seasoned educator and advocate for sound money, discusses the 2025 monetary landscape. He highlights gold's pivotal role in front-running dollar weakness and critiques the Fed's approach to inflation. Alasdair delves into liquidity issues versus bank credit contraction, warning of equity bubble risks as rising yields may trigger a market sell-off. He contrasts Europe's struggles with China's strategic gold accumulation and forecasts significant currency collapses. In a compelling takeaway, he urges listeners to protect their wealth through gold and commodities.
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Gold Front-Ran Dollar Weakness
- Gold led markets in 2025 by front-running expected dollar weakness and systemic shifts.
- Geopolitics and China's resource protection amplified commodity and precious metals moves.
Fed Abandons Inflation Fight
- The Fed has effectively given up fighting inflation and returned to QE despite elevated prices.
- That policy shift will further reduce the dollar's purchasing power and be highly inflationary in 2026.
Credit Drought, Not Liquidity Shortage
- The core issue is banks pulling back on lending, not a true lack of liquidity in the system.
- Flooding bank reserves via QE won't fix credit reluctance and therefore won't restore normal lending.