The Man Who Said Sell Gold in 1980 Has a New Warning | Mark Skousen

In 1980, Mark Skousen told investors to sell their gold and silver. Now the Chapman University economics professor says the U.S. has entered “an era of permanent inflation,” yet he calls himself one of the few people at the New Orleans Investment Conference “who’s rather cautious” on the metals.

Skousen, a former CIA economist and founder of FreedomFest, tells Kitco News anchor Jeremy Szafron he’s convinced Fed Chair Kevin Warsh wants to be another Paul Volcker. With Warsh focused on the money supply, Skousen sees a December rate hike as a real possibility. He warns that real interest rates running above inflation are “not good for gold or silver,” and he weighs in on whether $50 still holds as a floor for silver.

On the economy, Skousen says “AI is bailing us out,” but he warns the U.S. is headed for a monetary crisis as interest on the national debt keeps climbing. He also explains why he now prefers a royalty company and dividend-paying stocks over miners and bonds, and shares his ancestor Benjamin Franklin’s view on paying off the national debt.

This interview was recorded on Oct. 29, 2026.