Michelle Makori, President & Editor-in-Chief, Miles Franklin Media, sits down with Christopher Irons, Author of QTR’s Fringe Finance Substack, to break down why today’s market may be repeating the same dangerous patterns that led to the 2008 financial crisis.

As stocks push to all-time highs, Irons warns that beneath the surface, serious cracks are forming — from private credit stress to rising delinquencies and hidden leverage across the system.

He explains why the market may be “pricing perfection,” why the next shock could come from an unpredictable “black swan,” and why the real risks are building in areas most investors aren’t watching.

Irons also shares his outlook on gold, Bitcoin, and where he sees opportunity in a system increasingly driven by liquidity, intervention, and growing inequality.

In this episode of The Real Story with Michelle Makori:

- Why this market setup looks like 2008 again

- The private credit risks no one is talking about

- “Endless black swans” and unpredictable market shocks

- The Fed, liquidity, and what happens when the system cracks

- Gold vs. Bitcoin: where Irons is placing his bets

- Sectors to avoid and where he sees opportunity

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Disclaimer: The views and opinions expressed in this video are those of the individual speakers and do not necessarily reflect the views of Miles Franklin Precious Metals, its affiliates, owners, anchors, producers or hosts. This content is provided for informational and educational purposes only and is not intended as financial, legal, or investment advice. Nothing said in this video should be construed as a recommendation to buy or sell any financial asset. You should always consult with a qualified financial advisor, legal professional, or tax expert before making any investment decisions. Investing involves risk, including the potential loss of principal.

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Markets Are Too Optimistic: They’re Ignoring the Risks That Matter | Chris Irons & Michelle Makori

The Real Story with Michelle Makori

Markets Are Too Optimistic: They’re Ignoring the Risks That Matter | Chris Irons & Michelle Makori