James Grant: The ‘Epicenter’ of the Next Crash Is Not Banks - Life Insurance, Junk Debt & The Fed скачать в хорошем качестве

James Grant: The ‘Epicenter’ of the Next Crash Is Not Banks - Life Insurance, Junk Debt & The Fed

The next major financial crisis won't start in the banks—it will start in the Life Insurance sector. That is the urgent warning from legendary financial analyst James Grant, founder of Grant’s Interest Rate Observer. In this interview with Jeremy Szafron, Anchor at Kitco News, Grant details how the "Search for Yield" has pushed insurance giants into dangerous Private Credit and Private Equity allocations—assets he describes as "inherently junk" and completely lacking price discovery. He warns that policyholders and retirees could be the "unknowing participants" in the next great deleveraging. Grant also dissects the sudden spike in Repo rates, accusing the Federal Reserve of becoming a "puppet master" that has lost control of the bond market. He breaks down the AI bubble (calling data centers the "Pyramids of Egypt"), explains why the economy is hanging by "dental floss," and gives his latest forecast for Gold at $4,200 and Silver’s "Trump-like" volatility. Recorded on December 9, 2025 Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron) Follow Kitco News on X: @KitcoNewsNOW (https://x.com/KitcoNewsNOW) TIMESTAMPS: 00:00 Intro: The Repo Rate Spike 01:28 Interview Start: James Grant on "Suppressed Price Discovery" 03:39 The Fed is "The Puppet Master" (Is Secret QE Back?) 20:22 The AI Bubble: "Pyramids of Egypt" 23:31 Financing "Future Junk": The 30-Year Bond Trap 24:15 The "Terrifying" Mismatch in Tech 25:31 James Grant: The Economy is Suspended on "Dental Floss" 27:14 Private Credit is "Inherently Junk" 30:58 The "False Calm" & Hidden Leverage 33:33 THE WARNING: Life Insurance is the "Epicenter" of the Crisis 38:58 The Japan Carry Trade: A "Damaging" Unwind Coming? 42:24 Gold $4,200 & The "Reciprocal of Faith" 45:21 Conclusion #JamesGrant #Gold #Recession #Fed #LifeInsurance #PrivateCredit #Economy #KitcoNews #JeremySzafron #Silver #Investing #Crisis __________________________________________________________________ Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. FOLLOW US: X: https://x.com/kitconewsnow Instagram:   / kitconews   Facebook:   / kitconews   LinkedIn:   / kitconews   Listen to the PODCAST on 🎧 Spotify: https://open.spotify.com/show/1My4Wgt... 🎧 Apple Podcasts: https://podcasts.apple.com/us/podcast... 🎧 All podcast episodes available here → https://kitconews.buzzsprout.com Visit: https://Kitco.com/ for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights. Live gold price and chart: https://www.kitco.com/charts/gold Live silver price and chart: https://www.kitco.com/charts/silver Live crypto market data: https://www.kitco.com/price/crypto Learn more about Kitco News: https://www.kitco.com/news/about/ For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising Disclaimer: The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.