Chris Whalen: Why We Could See Double-Digit Inflation, Rationing, & Fed Hikes

Watch on YouTube ↗  |  May 23, 2026 at 13:00  |  33:42  |  Julia LaRoche Show
Speakers
Chris Whalen — Chairman, Whalen Global Advisors

Summary

Chris Whalen discusses the risk of double-digit inflation driven by the Iran war, Fed rate hikes, and rationing. He maintains long positions in gold, silver, AMD, and Annaly Capital Management, while warning against Bitcoin and crypto.

  • Whalen predicts double-digit inflation by year end due to war-related supply disruptions.
  • He expects the Fed to hike rates as early as July, with long-term rates staying elevated.
  • Whalen is long gold as an inflation hedge and central bank diversification play.
  • He is long silver, viewing it as a commercial play on technology demand and metal shortages.
  • He holds AMD and is adding to Annly (NLY) based on mortgage servicing asset income.
  • Whalen advises avoiding Bitcoin and crypto due to passive ETF dominance and vulnerability.
  • He discusses political implications of affordability for the midterm elections.
  • The video covers Kevin Warsh's strategy to shrink the Fed balance sheet while cutting short rates.
Trade Ideas
Chris Whalen Chairman, Whalen Global Advisors 13:10
Long gold as inflation hedge
Gold serves as a long-term inflation hedge and benefits from central bank rebalancing away from the U.S. dollar. The war-driven inflation and dollar purchasing power loss reinforce this position.
GLD HIGH
Chris Whalen Chairman, Whalen Global Advisors 13:30
Silver commercial play on tech demand
Silver is a commercial play on metal shortages and growing technology demand, distinct from gold's monetary hedge role.
SILVER HIGH
Chris Whalen Chairman, Whalen Global Advisors 22:02
Annaly benefiting from mortgage servicing rights
Annaly Capital Management (NLY) benefits from higher mortgage servicing rights values as rates rise, which extend asset income and balance duration exposure. He is adding to the position.
NLY HIGH
Chris Whalen Chairman, Whalen Global Advisors 23:22
AMD outperforming Nvidia, own it
AMD is outperforming Nvidia due to less crowded positioning. Whalen bought the stock when it was unloved and continues to hold it as part of the AI buildout theme.
AMD MED
Chris Whalen Chairman, Whalen Global Advisors 29:50
Avoid Bitcoin, passive killed it
Bitcoin and crypto are unattractive because passive investment mechanisms (Wall Street ETFs) now dominate price action, making them vulnerable to large drawdowns. He advises taking profits and exiting.
BTC MED
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This Julia LaRoche Show video, published May 23, 2026, features Chris Whalen discussing GLD, SILVER, NLY, AMD, BTC. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Chris Whalen  · Tickers: GLD, SILVER, NLY, AMD, BTC