Video News/In Focus with Jeremy Szafron

As gold trades near record highs, Dr. Daniel Lacalle, Chief Economist at Tressis, warns that investors face a deeper systemic risk. “Don’t invest in deposits,” he tells Kitco News Anchor Jeremy Szafron. Lacalle says policymakers are eroding savings through inflation, capital controls, and expanding fiscal imbalances that threaten confidence in fiat currencies. He argues that the surge in hard-asset demand reflects a global loss of trust in paper money and central-bank policy. With debt levels climbing and real yields under pressure, Lacalle outlines why gold and silver are behaving less like commodities and more like alternative reserves. He calls the current environment “a crisis of confidence” that could redefine how nations and savers protect value.