Financial Turmoil Looms: Ed Dowd Warns of Fed’s Role in Global Sovereign Debt Crisis

In a revealing interview, Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, speaks with Edward Dowd, Founding Partner of Phinance Technologies, who warns that the Federal Reserve’s prolonged interest rate hikes have finally broken something—another central bank, specifically the Bank of Japan. Dowd outlines the severe consequences of this development, suggesting it signals the beginning of a global debt crisis. He shares his macroeconomic outlook, discussing the impact of geopolitical tensions and the potential for a new ‘Black Swan’ event. Dowd also offers insights into the future of the banking sector, predicting more stress and consolidation, and warns of a scenario that could pave the way for a central bank digital currency (CBDC). Additionally, he addresses the implications of the upcoming U.S. elections, the future of the U.S. dollar, and the roles of Bitcoin and gold in this turbulent landscape.