Mike McGlone: Gold Isn’t Safe In Upcoming Market Crash

VRIC MediaTuesday, August 4, 2026

Show Notes

Mike McGlone of Bloomberg Intelligence argues that markets are approaching a major turning point as elevated bond yields, stretched equity valuations, and persistent inflation place growing pressure on risk assets. He explains why the Federal Reserve is effectively trapped, why gold, commodities, and crypto may have already sent warning signals, and why a stock market decline could trigger a broader deflationary reset. McGlone also outlines his bullish case for long-term Treasuries, which he believes could become one of the strongest opportunities of the current market cycle.

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0:00 Are markets approaching a major turning point?

0:45 The Fed holds rates steady

1:21 Why the Fed is trapped

3:03 Rising volatility and weakening risk assets

5:16 Why 5% bond yields threaten every market

7:59 Copper, China, and global deflation

11:41 Gold’s rally may have run its course

14:23 What happens when stocks begin falling?

17:20 Why oil could fall below $70

20:25 The bullish case for Treasuries

22:29 A potential trade of a lifetime

25:10 Will the Fed rescue the stock market?

26:13 Why deflation may replace the inflation trade

28:56 Where to follow Mike McGlone