State of the Markets #236 Dominic Frisby - The year ahead and the Secret History of Gold
Jan 27, 2026
Dominic Frisby, author and commentator on money and markets, offers bold market predictions and promotes his book The Secret History of Gold. He discusses rapid gold and silver moves, central bank buying and reserve shifts, Bitcoin and commodity opportunities, structural supply issues for silver, and why gold remains a universal store of value. He also shares practical thoughts on crypto payments and currency diversification.
AI Snips
Chapters
Books
Transcript
Episode notes
Asset Freezes Weaken Dollar Trust
- Freezing sovereign assets (e.g., Russian, Venezuelan) damaged confidence in the dollar and highlighted limits of private crypto custody.
- Dominic sees these actions as accelerating de-dollarisation and driving central bank gold accumulation.
Japan Bond Market Is A Latent Time Bomb
- Rising JGB yields and Japan's bond fragility remain a latent systemic risk that could trigger market shocks.
- Dominic warns this 'time bomb' in Japanese bonds may eventually 'blow up' despite repeated false alarms.
UK Value Looks Like Japan 2015
- Cheap UK stocks attract foreign interest similar to Japan's earlier cheapening; value opportunities exist outside the US growth mega-cap concentration.
- Dominic highlights sectors like beer/pubs and mid-cap UK companies as undervalued investment prospects.
