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War, Gold, and the Fed’s Next Move
Episode 135

War, Gold, and the Fed’s Next Move

Mises Media · Mises Institute

March 21, 2026

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Show Notes

On this episode of Minor Issues, Mark Thornton replays two short interviews: one recorded with Daniela Cambone weeks before the outbreak of war in the Middle East, and another with Dunagun Kaiser recorded days ago as the conflict escalates. Mark breaks down why precious metals are unusually volatile, how war and interventionism collide with inflationary fiat regimes, and why rising interest rates and commodity prices point to a more dangerous long-run trend. He also connects the dots between the Fed’s “liquidity” talk, a deeper leverage problem in finance, and the way wars can be used to divert attention from economic failures at home.

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Topics

Financial MarketsThe FedU.S. EconomyWar and Foreign Policy