Great Reversion Ahead McGlone Warns Bitcoin $10K Threat and Rising Gold Volatility in 2026

Wall Street is betting on a perfect soft landing—but the real economy is flashing recession. In this Outlook 2026 special, Mike McGlone, Senior Macro Strategist at Bloomberg Intelligence, joins Kitco News Anchor Jeremy Szafron to warn that markets are approaching a Great Reversion on par with 1929.

McGlone points to a stark historical signal: the S&P 500–to–Gold ratio at 1.55, a level last seen before the Great Depression crash. He says this marks a dangerous peak for paper assets and signals an imminent rotation into hard assets. The implication: the “wealth effect” that has buoyed stocks could shatter as liquidity tightens and risk premiums reset.

Looking ahead to 2026, McGlone lays out a frightening volatility regime—one where gold could trade at both $5,000 and $3,500 in the same year. He doubles down on his deflationary thesis, forecasting crude oil at $40, and warns of a crypto purge that could ultimately drive Bitcoin toward $10,000.

This is a must-watch macro briefing for investors weighing how to protect capital if stocks and crypto roll over—and where hard assets fit as markets confront history-level extremes.

Recorded on December 18, 2025.

Sponsor: This Outlook 2026 special is brought to you by Discovery Silver, combining high-quality gold production in Canada with the world’s largest undeveloped silver deposits in Mexico.

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TIMESTAMPS:
00:00 Introduction and Market Overview
00:43 Interview with Mike McGlone Begins
01:10 Market Predictions and Analysis
01:44 US Stock Market Resilience
02:03 Gold and Crude Oil Trends
02:40 Cryptocurrency Market Insights
03:51 Impact of US Economic Policies
05:02 Global Economic Indicators
07:22 Energy Market Dynamics
08:45 Industrial Metals and Commodities
19:28 Silver and Copper Market Trends
22:05 Investment Strategies for 2026
22:30 US Treasury Bonds and Dollar Outlook
24:40 Year-End Predictions
26:24 Conclusion and Final Thoughts

#KitcoNews #MikeMcGlone #GoldPrice #Bitcoin #Outlook2026 #StockMarketCrash #Recession #Silver #Economy #Investing

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