Video News/New Orleans Investment Conference 2026

(Kitco News) - People feel poorer because they are, once wealth is measured in gold rather than dollars, according to Dominic Frisby, author of The Secret History of Gold and founder of The Flying Frisby. “If you use gold, it tells the truth, but politicians don’t like the truth,” Frisby told Kitco News anchor Jeremy Szafron at the New Orleans Investment Conference. He argued that dollars are a flawed unit of account because of steady money supply growth, while gold supply has grown roughly in line with population for centuries. Frisby said gold may need a few more months of sideways trading and is unlikely to top $5,000 this year, though it probably will next year, and he targets $7,000 to $10,000 by the end of the decade. Frisby said oil is the trade he currently favors, arguing that crude could reach $150 “quite easily” while oil stocks are still priced as if oil were at $80 to $85. He also said the era of cheap money is over, pointing to his own mortgage payment, which nearly quadrupled when he rolled it over, and to Britain’s debt interest bill, which he said will match its education budget next year.