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Global Economic Reset Coming-Kitco News

Global economic reset coming: Bitcoin price could drop below $10k, gold to rally — Mike McGlone

Kitco News:  8-25-2023

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Mike McGlone, Senior Macro Strategist at Bloomberg Intelligence, who says that a number of key macroeconomic indicators are pointing to “a global economic reset” and a period resembling “a Great Depression.”

 He discusses the critical trigger - China and what a global reset could mean for assets like Bitcoin, gold, U.S. equities, crude oil, and copper.

He also highlights a number of red flags within the U.S. data.

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00:00 - Intro

01:18 - Signs of a Great Depression

07:23 - China as the trigger

14:41 - What’s happening with the U.S. dollar

 16:04 - BRICS and de-dollarization

19:13 - How does the worst recession of our lifetime look like?

 25:00 - Jackson Hole

 27:47 - Oil, gold, copper

 35:20 – Bitcoin

 52:13 - This could derail McGlone’s thesis

https://www.youtube.com/watch?v=wKVsSetMHQA

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