Nov 13, 2025 Kitco News

Investor and macro expert George Gammon warns that “the smart money is running for the exits.” Beneath record Dow highs, UBS hedge fund liquidations, and 6.65% subprime auto delinquencies signal “this is playing out exactly like the middle of 2007.”

In this exclusive interview with Jeremy Szafron on Kitco News, Gammon explains that “the plumbing is clogging up” across global credit markets, the Fed has lost control of the monetary system, and why both parties now push “big government socialism.” He calls the 50-year mortgage “real estate serfdom” and says fiscal populism is turning stimulus into a permanent election tool.

As gold trades above $4,200, Gammon says, “true wealth isn’t about how much gold you have, it’s about access to goods and services.” Are we witnessing the greatest wealth transfer of our lifetime, and the slow-motion replay of 2008?

In this interview, Gammon discusses:
• Parallels between today’s market and 2007
• Liquidity risk, counterparty exposure, and the next repo crisis
• Debt, inflation, and the illusion of wealth
• Gold above $4,200 and Bitcoin as real purchasing power
• How fiscal policy became permanent stimulus