{"podcast":{"title":"The Julia La Roche Show","slug":"the-julia-la-roche-show-5842803","podcast_index_feed_id":5842803,"rss_url":"https://anchor.fm/s/41aa63c4/podcast/rss","website_url":"https://podcasters.spotify.com/pod/show/julia-la-roche","image_url":"https://d3t3ozftmdmh3i.cloudfront.net/production/podcast_uploaded_nologo/10916857/10916857-1660085096509-ec2c80bf0ad2a.jpg","author":"Julia La Roche","episode_count":395,"summary":"Julia La Roche brings her listeners in-depth conversations with some of the top CEOs, investors, founders, academics, and rising stars in business. Guests on \"The Julia La Roche Show\" have included Bill Ackman, Ray Dalio, Marc Benioff, Kyle Bass, Hugh Hendry, Nassim Taleb, Nouriel Roubini, David Friedberg, Anthony Scaramucci, Scott Galloway, Brent Johnson, Jim Rickards, Danielle DiMartino Booth, Carol Roth, Neil Howe, Jim Rogers, Jim Bianco, Josh Brown, and many more. Julia always makes the show about the guest, never the host. She speaks less and listens more. She always does her homework.","last_synced_at":"2026-07-24T00:18:02.386758+00:00","page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803"},"episode":{"title":"#385 Chris Whalen: Gold Headed Higher, Goldman $4,900 Target, Silver China Buying Spree","slug":"385-chris-whalen-gold-headed-higher-goldman-4-900-target-silver-china-buying-spree","published_at":"2026-07-04T12:00:00+00:00","page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803/385-chris-whalen-gold-headed-higher-goldman-4-900-target-silver-china-buying-spree","show_page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803","url":"https://podcasters.spotify.com/pod/show/julia-la-roche/episodes/385-Chris-Whalen-Gold-Headed-Higher--Goldman-4-900-Target--Silver-China-Buying-Spree-e3lknp8","audio_url":"https://traffic.megaphone.fm/APO7221964615.mp3","summary":"Chris Whalen kicks off the July 4th episode of The Wrap by diving into private credit implosion with BDCs turning unprofitable, using the acronym POOP (Principal on Outstanding Principal) to illustrate how debt is being converted to equity because companies can't pay—essentially turning investors into equity holders in insolvent companies. The June jobs report shocked with only 57K payrolls added (far below expectations) while household employment actually fell by 500K, making the data contradictory and unreliable despite the overall labor market still showing relative steadiness in many markets. Housing shows sharp bifurcation: sales above $1 million hit a record high while overall volume is down, revealing that only luxury properties are moving as the broader market softens. Goldman Sachs projects gold could hit $4,900, and Whalen is holding silver as a hedge against dollar debasement and inflation, noting the Chinese are aggressively buying silver in both futures and spot markets. Trump has profited handsomely from his various crypto ventures while most investors in those same ventures have lost significant money—a familiar pattern from Trump's business history. With the US national debt now at $39.35 trillion on America's 250th birthday, Whalen warns the Democratic Party will split between socialists and Republicans, with policies like New York's rent freezing turning cities into slums while hurting mom-and-pop landlords. He recommends watching interest rates, the Fed under Kevin Warsh, and expects another uptick in gold and silver prices after recent selloffs, while cautioning on BDCs and private credit exposure as the distress signals mount. Thank you to today's episode sponsor, The Entropy Trap by Mickey Maini. Order your copy: https://www.amazon.com/Entropy-Tra…","meta_description":"Chris Whalen kicks off the July 4th episode of The Wrap by diving into private credit implosion with BDCs turning unprofitable, using the acronym POOP (Pr…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2143,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-julia-la-roche-show-5842803/episodes/385-chris-whalen-gold-headed-higher-goldman-4-900-target-silver-china-buying-spree/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803/385-chris-whalen-gold-headed-higher-goldman-4-900-target-silver-china-buying-spree.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}