Lacalle: Fed Was “Too Late, Too Slow, Too Wrong” as Debt Crisis Deepens

Global markets are flashing red as debt, inflation, and confidence collide. “Inflation is not a fatality. Inflation is a policy,” warns Daniel Lacalle, chief economist at Tressis, calling today’s turmoil a “slow-motion implosion” of advanced economies.

Speaking with Kitco News Anchor Jeremy Szafron, Lacalle says the Federal Reserve has been “too late, too slow, and too wrong” about inflation, and that central banks are “doing all they can to maintain the sovereign debt bubble alive.” He argues that gold and silver are “discounting currency destruction” and that “it is the start of the repricing of silver in the global economy.”

Lacalle warns the next phase of the crisis could hit savers directly. “The only thing governments will do once they enter into this phase of currency debasement is to try to offset part of their liabilities with the wealth on the savings and the deposits of those they can control.”

The interview unpacks the Fed’s policy trap, precious metals’ surge, and the coming “global reset.”

(Recorded October 14, 2025)

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