Debt, Dimon, and Gold: Nearing $40 Trillion

Jamie Dimon told CNBC this month he wouldn't buy stocks or long-dated Treasurys at current prices, a warning that anchors this July 2026 episode of Outside The Dollar. Elena Reyes examines Goldman Sachs estimates suggesting China's real gold buying may run nearly five times official figures, alongside World Gold Council data showing a sharp May jump in central bank purchases. She connects this quiet accumulation to gold's recent pullback, its long-term performance against stocks, and the widening U.S. debt picture approaching forty trillion dollars. For anyone holding or considering precious metals, the episode raises pointed questions about who continues financing U.S. debt as interest costs climb. Figures cited include CBO fiscal year 2026 projections reported via Lear Capital.