Economist William Lee Warns Gold's Parabolic Rise Signals a Speculative Bubble

• Economist William Lee warns that gold's recent sharp rise exhibits characteristics of a speculative bubble.
• Lee suggests the gold surge might indicate a breakdown in trust in global political and social institutions.
• He emphasizes focusing on underlying economic fundamentals over chasing price momentum, aligning with the US central bank's view.
• Lee describes the US Federal Reserve's current position as awkward, constrained by political optics regarding rate cuts.
• He discusses potential Fed Chair candidates, favoring insider Chris Waller for stability over an outsider who might introduce uncertainty.

Why It Matters: Economist William Lee views gold's rapid ascent as a bubble, signaling potential institutional distrust and economic instability.