Description
Measured in dollars, America keeps getting richer. Measured in gold, Dominic Frisby says it has been getting poorer for 50 years, with output per person down roughly 57% since 1975 by his math. “If you use gold, it tells the truth, but politicians don’t like the truth,” says the author of The Secret History of Gold.
Speaking with Kitco News anchor Jeremy Szafron at the New Orleans Investment Conference, the founder of The Flying Frisby sees gold treading water for a few more months before clearing $5,000 next year, much like the sideways stretch after 2006 that came before new highs in 2008. By the end of the decade, he targets $7,000 to $10,000. For now, oil is the trade he likes. He thinks crude could reach $150 “quite easily,” and he warns that $150 oil played an often overlooked role in the 2008 financial crisis.
Frisby says the era of cheap money is over for households and governments alike. The payment on his own mortgage nearly quadrupled, and next year Britain will spend as much on debt interest as on education, with long-term gilts at 6%, he says. He keeps as little as possible in sterling and warns that money in the bank isn’t really yours as Britain’s tax authority gains the power to pull funds straight from accounts. When the money printer returns, he expects gold stocks to outrun Bitcoin.
This interview was recorded on Oct. 29, 2026.
Special thanks to our sponsor, Dakota Gold, for making this coverage possible.
To learn more, visit: https://dakotagoldcorp.com/
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Check out Dominic Frisby's Substack: (https://www.theflyingfrisby.com/)
00:00 Welcome to the New Orleans Investment Conference 2026
02:12 US Output per Person Down 57% in Gold Since 1975
05:04 Debt Interest Rivals Government Budgets as UK Gilts Hit 6%
07:35 The Case for $150 Oil and Energy Stocks
11:45 When the Taxman Can Take Money From Your Bank Account
14:25 Losing to Inflation on Savings and Where to Hold Wealth
16:13 The End of Cheap Money for Housing and Stocks
19:20 Gold Sideways Until Next Year and Copper’s Entry Point
20:57 Gold vs Bitcoin When the Money Printer Returns
22:18 Gherkins, the Budget and Closing Thoughts
#Gold #Oil #Inflation
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