
How War and Fiat Currencies Drive the Price of Gold and Oil
From Mises Media by Mises Institute
April 23, 2026
About this episode
Mark Thornton discusses the relationship between war, fiat currencies, and the prices of gold and oil.
In this interview with Kaneki Kojo, Mark Thornton explains why gold acts like a “canary in the coal mine” for runaway debt, war, and inflation, and why today’s war-driven oil spike can perversely push gold down by delaying central-bank rate cuts. The original interview is available at https://www.youtube.com/watch?v=cXm-5wBJm3c
People in this episode
Host: Mark Thornton
Guest: Kaneki Kojo
Topics covered
- war
- fiat currencies
- gold
- oil
- inflation
- debt
Keywords
- gold
- oil
- inflation
- debt
- central-bank rate cuts
- war
Mentioned in this episode
Organizations: Mises Institute
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