Dr. Mark Thornton Warns 'Fiat Is In The ICU' And Central Banks Do Not Trust Each Other

Ray Dalio warns the monetary order is breaking down, and Dr. Mark Thornton says the fiat system is now in the "Intensive Care Unit." In this interview, Kitco News anchor Jeremy Szafron sits down with Dr. Mark Thornton, Senior Fellow at the Mises Institute, to break down why central banks are fleeing Treasuries for physical gold and what the "Skyscraper Curse" signals for a 2026 crash.

They discuss the massive 150-ton gold purchase by Poland, a strategic move by a NATO ally that signals a loss of trust in the debt-based system. Dr. Thornton also exposes a critical, under-reported crisis in the silver market: supply is "inelastic" and "wasted" on war and solar panels, meaning the market cannot physically respond to price spikes. With Japanese bond yields spiking and the "Jeddah Tower" restarting construction, the signals for a major economic pivot are flashing red.

Recorded: January 20 2026

IN THIS EPISODE:
-The "Fiat ICU" Thesis: Why the dollar system is on life support and what replaces it.
-The Silver Supply Crisis: Why a recession will actually cut silver supply due to the "byproduct paradox" (70% of silver comes from base metal mines).
-The Poland Signal: What it means when a frontline NATO nation dumps bonds for 150 tons of physical gold.
-The Skyscraper Curse: How the restart of the world's tallest tower in Saudi Arabia predicts an economic crisis in 2026.
-Stocks vs. Manure: Mark Thornton’s shocking bet that fertilizer will outperform the S&P 500 this year.

Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron)
Follow Kitco News on X: @KitcoNewsNOW (https://x.com/KitcoNewsNOW)
Follow Dr. Mark Thornton on X: @DrMarkThornton (https://x.com/@DrMarkThornton)

#Silver #Gold #Economy #KitcoNews #Investing #MarkThornton #Recession #Japan #RayDalio
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