Video News/Rule Symposium 2026

(Kitco News) Dr. Nomi Prins says the U.S. debt question has already been answered by the institution standing behind it. Speaking with Kitco News at the Rule Symposium 2026, the Prinsights Global founder and Permanent Distortion author said Washington has made no attempt to reduce its debt since the financial crisis, arguing the Federal Reserve has become the buyer of last resort. "Does the United States have a debt crisis? The United States has a Fed," she said, noting the Fed's balance sheet has grown over the past six months even as rate expectations shifted. Prins reaffirmed her firm's call for $6,000 gold by year-end and pushed back on the market's reading of the new Fed chair, stating, "I think ultimately the Fed will have to reduce rates in order for us to service our debt. I think that Kevin Warsh is waiting for that moment." She pointed to China reducing its Treasury holdings from $1.3 trillion to $620 billion as gold overtakes Treasuries among central bank reserves, and to roughly five billion ounces of paper silver trading in the SLV ETF alone against about 800 million ounces mined annually. Prins said Wall Street's commodity dealmaking, with base metals M&A at an 18-year high, shows institutions positioning for a hard asset supercycle that remains in its early stages.