In this episode, Anthony and Piers dig into the surge in UK borrowing costs, now at their highest since 1998. Is this a warning sign or just a media-fueled blip? They explore the fiscal strain, political reshuffling, and why the pound took a sharp hit earlier in the week.

The conversation then turns to the deeper structural issues—rising inflation, slowing growth, and a widening current account deficit. Could this all snowball into a credibility crisis for the UK government and Bank of England?

Also in this episode: gold’s breakout past $3,500, Goldman’s bold $5,000 call, and what the rally tells us about fading trust in fiat systems and central bank independence.

(00:00) UK: Borrowing & Inflation

(08:41) Debt Spiral

(17:17) Deficits & Outlook

(25:56) Gold as Hedge

(34:25) Trust in Gov’t & Banks