Financial War Behind the Iran War: Why Gold is Crashing and the Dollar is Winning | Silk and Steel

Financial War Behind the Iran War: Why Gold is Crashing and the Dollar is Winning | Silk and Steel

Author: UK Column March 26, 2026 Duration: 48:50

Financial War Behind the Iran War: Why Gold is Crashing and the Dollar is Winning | Silk and Steel


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In this fascinating episode of The Silk and Steel Podcast, host Carl Zha is joined by Ting Xin (co-host of Escape from Plan A) to dissect one of the most puzzling economic puzzles of the Iran war:

Why is gold crashing while oil is surging?

Conventional wisdom says that in times of geopolitical crisis, both gold and oil should rise together as safe haven assets. But that's not what's happening. Gold has dropped over 10% while oil flirts with $100/barrel. The dollar is strangely strong. Treasury yields are spiking.

What's going on?

Ting Xin's thesis (with charts!):

* The US Treasury, under Scott Bessent, is manipulating the gold market to punish countries that hold gold reserves instead of dollars

* This is a petrodollar offensive – keep the dollar pegged to oil by crushing gold's value

* Iran is now demanding payment in Chinese yuan for oil transiting the Strait of Hormuz

* China is fighting back by dumping US treasuries and buying up the gold the US is selling

* This is a full-scale financial war being fought alongside the hot war in West Asia

We break down:

* Why the "margin call" and "inflation print" explanations for gold's crash don't hold water

* How the US can manipulate gold prices through gold swaps with bullion banks (without breaking the law)

* The 1997-98 Hong Kong dollar crisis: Scott Bessent's first defeat by the PBOC

* Why the bond market is violently rejecting this war (treasury yields spiking)

* The psychological shift in America: Why the right wing is turning on Trump over this war

* Why Americans see this as Israel's war – and why that matters

* The fundamental truth: No one needs US dollars anymore except to buy oil

Plus: The late Soviet Union parallels, the "gay eunuch" model of US governance, and why gold will eventually win.


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Tune in to UK Column News, a daily podcast from the independent news organisation of the same name. This isn't a recap of headlines from the mainstream wire services. Instead, the team at UK Column digs into the stories and narratives shaping public perception, focusing on what they term the 'information war.' Each episode provides analysis you're unlikely to find elsewhere, examining the interplay between government policy, media reporting, and institutional influence. Because they operate without any corporate backing, advertising, or funding from political groups, their perspective is uniquely supported by their audience through memberships and donations. This independence is the core of the podcast, allowing for straightforward commentary free from external pressures. Listeners will hear detailed discussions on current events in the UK and beyond, often connecting dots between seemingly separate issues to present a broader picture of governance and societal change. The tone is analytical and deliberate, prioritising depth over soundbites. For those seeking an alternative to conventional news cycles and curious about the mechanics behind the stories that dominate the day, this podcast offers a consistent and critical voice. It’s for anyone who questions the prevailing narrative and wants news analysis that answers to its listeners, not to sponsors or shareholders.
Author: Language: English Episodes: 100

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