We’re in a “WARTIME ECONOMY” & GOLD Is a National Security Asset | Graham Summers & Michelle Makori
We’re in a “WARTIME ECONOMY” & GOLD Is a National Security Asset | Graham Summers & Michelle Makori
Miles Franklin Media: 10-9-2026
Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, speaks with Graham Summers, President and Chief Market Strategist at Phoenix Capital Research and Macroeconomics Fellow at the Homeland Defense Institute, about why he believes the U.S. is already operating on a wartime economic footing as its economic competition with China reshapes national security, critical minerals, financial markets, and gold.
Summers explains why gold has moved to the forefront of U.S. national security, whether Washington could be quietly accumulating gold as China builds its reserves, and why policymakers may be reconsidering gold’s role in the monetary system.
He also examines the U.S. debt and Treasury market, the dollar’s purchasing power, central bank gold buying, and why government policy could drive a repricing across gold, Bitcoin, critical minerals, and other strategic assets.
Summers also explains why he believes the stock market itself has effectively become a matter of national security and what this shifting economic environment could mean for investors focused on hard assets, monetary stability, and wealth preservation.
In this episode of The Real Story:
Why gold is becoming a national security asset
Whether the U.S. could be quietly accumulating gold
How economic competition with China is reshaping U.S. policy
Why the dollar could be reassociated with gold
What could drive the next repricing in gold and Bitcoin
00:00 Coming Up
02:02 Introduction
03:32 Defining Wartime Economy
05:18 Executive Orders And Minerals
08:55 Inside National Security Briefings
11:40 Economic Defense Unit Explained
15:04 Deal Examples And Mining Push
18:10 Sponsor Break
19:10 Why The Urgency Now
24:37 Gold As Sanctions Weapon
30:05 Gold Backed Bonds Theory
35:24 Treasury Market Stress
44:22 China Gold And US Response
45:16 Trial Balloons Framework
46:04 Covert Gold Buying Tools
50:10 Fort Knox Audit Debate
51:00 Gold Revaluation Talk
53:12 Gold National Security Lens
55:32 Dollar Dominance Reality Check
58:48 China Gold Yuan Theory
01:01:30 Silver Critical Mineral Role
01:02:27 Venezuela Weapons Example
01:04:37 Silver Price Manipulation
01:07:23 Stocks As National Security
01:12:13 Everything Bubble Explained
01:15:10 Wartime Portfolio Strategy
01:20:12 Bipartisan Wartime Momentum
01:23:37 Homeland Defense Institute