Crisis warning from the giant fund's boss: He pointed to two assets to protect against it

VanEck CEO Jan van Eck warned that the next U.S. financial crisis is more likely to originate from Washington than from the banking sector, arguing that no backstop will be available when it hits. He pointed to two assets investors should hold for protection, though the article excerpt does not specify them. The warning matters because it shifts the crisis narrative from bank balance sheets to fiscal and policy risk, a theme that could influence demand for defensive and hard assets. Watch for VanEck’s positioning and fund flows, along with U.S. fiscal and debt developments, as the next signals.