Video News/In Focus with Jeremy Szafron

Edward Dowd says the United States has been running on a “fake” economy for the past two years, arguing recent GDP strength was a “hallucination” created by government spending tied to mass migration. Speaking with Kitco News Anchor Jeremy Szafron, Dowd warned that the “floor has been removed” from the housing market and predicted a disorderly downturn in 2026 as inventory builds and demand fades. He also likened today’s AI boom to a classic bull trap, comparing market leaders to the Dotcom era and forecasting an 80% correction for companies such as Nvidia. Dowd further outlined why he believes gold has been effectively re-monetized under Basel III, laying out the structural case for a long-term move toward $10,000. The conversation also explored private credit risks, deflation pressures, and global imbalances across Japan and China, framing his broader view of a system moving toward instability after years of artificial support.