The Julia La Roche Show #292 Chris Whalen: Gold Over $5,000 Next Year, Americans Still Uncomfortable Admitting Dollar Weakness, And Why Fed Will Monetize Debt Through Financial Repression
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Oct 4, 2025 Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst, provides provocative insights on gold and the economy. He discusses why Americans are uneasy about gold despite its rising value, implying dollar weakness. Whalen predicts gold may reach $5,000+ as U.S. allocations increase. He highlights the Fed's historical gold ties and warns about financial repression that could hurt assetless individuals. With political dysfunction looming, he foresees potential credit stresses but resilience in markets.
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Cross Country Mortgage Deal Shows Liquidity
- Whalen cites a heavy-demand bond deal from Cross Country Mortgage as evidence of abundant liquidity.
- He links strong credit appetite to asset price inflation benefiting holders of stocks and real estate.
Gold Rises Because Dollar Weakens
- Gold's rise reflects a weaker dollar rather than gold intrinsically gaining value.
- Chris Whalen says metals and crypto rising shows investors diversifying away from the dollar.
U.S. Gold Allocations Are Far Too Small
- U.S. allocations to gold are extremely low, likely under 1% of assets under management.
- Whalen argues a modest rise in allocation would sharply increase gold prices due to constrained deliverable supply.
