America’s Debt Problem, Bitcoin, Gold, & Silver Collapse, Overpriced Stock Market, Fed's Next Move

Video Description

In this episode of All Things Markets, Mike and I break down why gold, silver, and crypto hit turbulence, what Kevin Warsh at the Fed really means for inflation and rates, and why markets may be partying a little too close to bubble territory. We also tackle runaway deficits, Social Security math no one wants to face, and whether Bitcoin is setting up for its next act—or another gut check. Michael Novogratz is the Founder and CEO of Galaxy Digital. He was formerly a Partner and President of Fortress Investment Group LLC. Mr. Novogratz served on the New York Federal Reserve’s Investment Advisory Committee on Financial Markets from 2012 to 2015. He serves as the Chairman of The Bail Project and has made criminal justice reform a focus of his family’s foundation. Follow Anthony on X: https://x.com/Scaramucci Follow Novo on X: https://x.com/novogratz Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. Timestamps 0:00 Anthony and Mike Introduction 0:55 Macro outlook: gold, silver, and crypto pullback 2:45 Kevin Warsh pick and the effect of his appointment 8:16 S&P 500 All Time High, Shiller PE market is overvalued 10:12 The Nifty 50, market concentration, and historical parallels 12:44 Hypothetical: Mike Novogratz as Fed Chair in 2026 17:10 Kevin Warsh predictions 20:32 Bitcoin panic calls and the recent crypto selloff 24:35 Crypto PACs, political pressure, and midterm elections 28:15 Why voters don’t understand deficits and entitlement math