\u201cWhen we have the next crisis, the word \u2018private\u2019 is going to be in every headline,\u201d says Cornell Professor Dave Collum. In this interview with Daniela Cambone, Collum warns that the biggest risks in the next financial crisis won\u2019t come from the public markets\u2014stocks, Treasuries, and the like\u2014but from the shadowy private markets: private credit, private equity, and private debt, where leverage and valuations are opaque.<\/p>\n
He also explains why today\u2019s debt-driven economy is unsustainable and why he believes inflation and policy missteps are setting the stage for a severe reset. \u201cAt some point you either default outright or you inflate it away, but either path is a reset.\u201d<\/p>\n
Collum also reflects on his recent appearance on the Tucker Carlson Show, where he exposed the risks of a \u201cdigital deep state\u201d and the growing disconnect between official narratives and economic reality. \u201cWhen information itself is weaponized, markets become even more dangerous,\u201d he concludes.<\/p>\n
What happens when the professor who predicted the 2008 crash says today\u2019s debt bomb will be far worse?<\/p>\n
Cornell\u2019s Dave Collum, speaking with Daniela Cambone, isn\u2019t mincing words. He sees a financial system drowning in hidden leverage, a media drowning in noise, and a society spiraling into civil madness. And at the core of his warning? A hidden debt crisis<\/strong> that could make 2008 look like \u201ca walk in Central Park.\u201d<\/p>\n With markets inflated to absurd levels, BRICS nations walking away from the dollar, and central banks quietly hoarding gold, Collum\u2019s message is clear: the reckoning is near, and only tangible assets like gold and silver can preserve wealth.<\/strong><\/p>\n Collum argues that the next financial meltdown won\u2019t be sparked by what we see, but by what\u2019s buried.<\/p>\n Private debt & shadow markets<\/strong> \u2013 He warns \u201cprivate will be in every headline,\u201d whether it\u2019s private equity, private credit, or private debt. Hidden leverage is the silent powder keg.<\/p>\n<\/li>\n Market distortions<\/strong> \u2013 Companies like Microsoft and Apple have share prices soaring 10\u201320x faster than revenue growth, a textbook case of unsustainable bubbles.<\/p>\n<\/li>\n Noise vs. signal<\/strong> \u2013 Since 2013, Collum says information itself has been weaponized: too much contradictory data, too much manipulation. A deliberate effort to drown truth in chaos.<\/p>\n<\/li>\n<\/ul>\n When debt is hidden, its explosion is sudden. That\u2019s why Collum believes the next crash will blindside Wall Street and Washington alike.<\/strong><\/p>\n Beyond finance, Collum warns of societal unraveling:<\/p>\n Debt and division<\/strong> \u2013 Ray Dalio has sounded alarms on debt and disorder, but Collum believes Dalio underestimates the fragility.<\/p>\n<\/li>\n Inflation and distrust<\/strong> \u2013 Americans no longer trust government stats. The economy may \u201clook strong\u201d on paper, but everyday people see their dollars buying less, their savings eroding.<\/p>\n<\/li>\n Weaponized narratives<\/strong> \u2013 By using the dollar as a weapon against Russia, Washington may have triggered the greatest geopolitical shift in decades: BRICS expanding to 25+ nations, rejecting dollar dominance.<\/p>\n<\/li>\n<\/ul>\n In short: trust is collapsing, both at home and abroad.<\/strong> And when trust vanishes, currencies collapse with it.<\/p>\n Collum doesn\u2019t see gold as a U.S. story anymore\u2014it\u2019s global.<\/p>\n BRICS and major oil producers are aligning outside the U.S. financial orbit.<\/p>\n<\/li>\n Nations are watching how the dollar was used to punish Russia, and concluding: \u201cget away from these guys.\u201d<\/strong><\/p>\n<\/li>\n The result? A monumental shift<\/strong> where gold becomes the neutral asset bridging East and West.<\/p>\n<\/li>\n<\/ul>\n This isn\u2019t theory. It\u2019s already happening. Central banks are buying gold at record pace while quietly reducing exposure to U.S. Treasuries.<\/p>\n Collum himself began buying gold as early as the late 1990s, even as the Nasdaq roared. That decision paid off\u2014and he hasn\u2019t stopped since.<\/p>\n For today\u2019s investors:<\/p>\n Wealth preservation<\/strong> \u2013 Unlike fiat currency, gold and silver don\u2019t vanish in debt restructurings or banking crises.<\/p>\n<\/li>\n Inflation hedge<\/strong> \u2013 As governments monetize debt, precious metals hold purchasing power across generations.<\/p>\n<\/li>\n Gold vs. dollar<\/strong> \u2013 One is a tangible store of value, the other is a political tool increasingly distrusted worldwide.<\/p>\n<\/li>\n<\/ul>\n Silver, often overlooked, historically outperforms gold in monetary crises. And Collum has recently turned his eye toward platinum<\/strong>\u2014a signal that hard assets are where the real opportunity lies.<\/p>\n [Link to related guide or post]<\/p>\n The Cornell professor who saw the dot-com bubble, avoided the 2008 collapse, and has been sounding alarms for decades is blunt: we are living in the most overvalued, debt-saturated, and socially unstable period in modern history.<\/strong><\/p>\n The coming crisis won\u2019t just be financial\u2014it will be political, social, and global. And when the system resets, gold and silver will be the last safe harbor.<\/strong><\/p>\n ITM Trading has over 28 years of experience helping clients safeguard their wealth through personalized strategies built on physical gold and silver. Our team of experts delivers research-backed guidance tailored to today\u2019s economic threats.<\/p>\n
\nHidden Debt Crisis: The Unseen Trigger<\/h2>\n
\n
\nCivil Madness and the Erosion of Trust<\/h2>\n
\n
\nBRICS, Gold, and the End of Dollar Hegemony<\/h2>\n
\n
\nWhy Physical Gold and Silver Remain the Anchor<\/h2>\n
\n
\nConclusion<\/h2>\n
\nAbout ITM Trading<\/h2>\n