Why Lyn Alden Is Holding Gold but Waiting to Buy More
September 29, 2026 Market Updates and Analysis
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 itself, and whether stablecoins really strengthen the dollar.
Recorded September 28, 2026
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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
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