Citadel’s Griffin Calls Rush to Gold as Safer Asset ‘Concerning’ (full interview)

Listen to this article

Citadel’s Ken Griffin said investors are starting to view gold as a safer asset than the dollar, a development that’s “really concerning” to the billionaire investor. “We’re seeing substantial asset inflation away from the dollar as people are looking for ways to effectively de-dollarize, or de-risk their portfolios vis-a-vis US sovereign risk,” Griffin said in an interview with Bloomberg’s Francine Lacqua on Monday. The lingering federal government shutdown and the prospect of potential rate cuts helped propel the precious metal on Monday to a record. This year, investors have been betting more on gold, silver and Bitcoin, in what’s been called the “debasement trade.” The US is seeing fiscal and monetary stimulus that’s more akin to what normally happens during a recession, which is stoking markets, Griffin said.
“We’re definitely on a bit of a sugar high in the US economy right now,” Griffin said.

00:00 Ken Griffin
00:30 Griffin on markets/Trump
01:45 Markets are on a sugar high
04:00 Griffin on inflation
06:30 Griffin on the shutdown
12:00 Griffin on the Trump administration
16:00 Griffin on immigration
17:30 US and China
20:22 Griffin on working with White House
23:30 “There’s a lot of FOMO”
26:00 Griffin on AI

——–
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
WATCH HERE: http://bit.ly/3vTiACF

Subscribe to our Podcasts:

Bloomberg Daybreak: http://bit.ly/3DWYoAN
Bloomberg Surveillance: http://bit.ly/3OPtReI
Bloomberg Intelligence: http://bit.ly/3YrBfOi
Balance of Power: http://bit.ly/3OO8eLC
Bloomberg Businessweek: http://bit.ly/3IPl60i

Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay: https://apple.co/486mghI
Android Auto: https://bit.ly/49benZy

Visit our YouTube channels:
Bloomberg Podcasts: https://www.youtube.com/bloombergpodcasts
Bloomberg Television: https://www.youtube.com/@markets
Bloomberg Originals: https://www.youtube.com/bloomberg
Quicktake: https://www.youtube.com/@BloombergQuicktake

source