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The Fed Is Squeezing Borrowers but Washington Keeps Spending | Lyn Alden
Lyn Alden says Washington is on track to run roughly $10 trillion in deficits over the next five years, and she sees no appetite among voters, Congress or the president to cut spending. She's holding her gold, but after the run toward $5,000 she says it's "less of a screaming buy," and she wants to see a stronger base before she'd pound the table again. In this interview, Lyn explains why she thinks the Fed may not have the tools to fix fiscal-driven inflation, why rate hikes can grow the deficit faster than they slow lending, why she believes "the fiscal side will win," what could force the Fed to step into the Treasury market, why she thinks "zero is the wrong number" when it comes to holding some assets yourself, and whether stablecoins really strengthen the dollar. Recorded September 28 2026 Special thanks to our sponsor, Swan Bitcoin, the real Bitcoin company, for making this coverage possible To learn more, get started at https://swan.com/kitco Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron) Follow Kitco News on X: @KitcoNewsNOW (https://x.com/KitcoNewsNOW) Follow Lyn Alden on X: @LynAldenContact (https://x.com/LynAldenContact) CHAPTERS 0:00 Gold Sold Off With Everything Else. What It Means 2:42 Gold Isn't the Screaming Buy It Was at $2,000 4:13 What She Wants to See Before Buying More Gold 8:29 The Fed Doesn't Have the Tools for This Inflation 11:14 Above 100% Debt, Rate Hikes Grow the Deficit 12:23 Who Rate Hikes Help and Who They Hurt 18:09 Why the Fiscal Side Will Win 20:30 Inflation Can Last Longer Than People Think 22:43 Neither Party Will Actually Cut Spending 26:08 Iran, Oil and China's Leverage 29:07 Rare Earths: Why Processing Is the Hard Part 31:47 Gold Is Still Flowing From West to East 32:31 Her Conviction: Cyclical, Not Structural 33:53 What's Really Driving Bitcoin 43:36 Did the Gradual Print Stop? 47:59 What Would Force the Fed's Hand 50:18 Capital Controls Are Tightening 51:46 Is a Bitcoin ETF Like Paper Gold? 54:11 Practical Steps Toward Financial Sovereignty 57:39 Could the Dollar Win From Crypto? 1:08:09 What Investors Forget to Invest In 1:09:29 Why She Hasn't Changed Her Portfolio 1:11:04 Ten Minutes With Kevin Warsh WHAT TO WATCH THIS WEEK - About 20 Fed speeches, including NY Fed President John Williams (Tue.) - PCE inflation (Wed., Sept. 30) - ISM manufacturing (Thu., Oct. 1) - September jobs report (Fri., Oct. 2) - Next Fed decision: Oct. 28 #Gold #LynAlden #FederalReserve __________________________________________________________________ Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. FOLLOW US: X: https://x.com/kitconewsnow Instagram: https://www.instagram.com/kitconews Facebook: https://www.facebook.com/KitcoNews LinkedIn: https://www.linkedin.com/company/kitconews Listen to the PODCAST on Spotify: https://open.spotify.com/show/1My4WgtF0ZhUnxkxDLoJof Apple Podcasts: https://podcasts.apple.com/us/podcast/kitco-news/id1842889233 All podcast episodes available here → https://kitconews.buzzsprout.com Visit: https://Kitco.com/ for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights. Live gold price and chart: https://www.kitco.com/charts/gold Live silver price and chart: https://www.kitco.com/charts/silver Live crypto market data: https://www.kitco.com/price/crypto Learn more about Kitco News: https://www.kitco.com/news/about/ For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video. Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
