➡ The Silver News Daily channel talks about how the Trump administration’s unpredictable actions have caused market instability, leading to a significant drop in silver prices. However, this could set the stage for a major rally in silver prices. Despite the economic downturn, silver remains crucial for industries like tech and energy, and it also serves as a financial safety net. Therefore, the current market situation might be hiding an upcoming surge in silver prices.

➡ The text discusses the potential for a bear market, where asset values decrease over time. It suggests that longer life expediencies have made assets more valuable, but increasing risks could make them less so. The text also highlights the unique situation of silver, whose supply is largely dependent on the mining of other metals. As the demand for these metals decreases, so does the supply of silver, potentially leading to a price shock.

➡ The article discusses the potential economic impact of America’s recent trade policies, including tariffs and budget cuts. It suggests that these policies could lead to a recession or even a depression, with rising prices and falling incomes. The article also highlights the increasing value of silver as a safe haven in uncertain times, as investors look for tangible stores of value. It concludes by suggesting that certain industries, such as defense and agriculture, may benefit in these circumstances, while luxury goods and travel could suffer.

➡ The tech industry is expected to face a downturn due to high valuations, leading to a rush towards cash and a short-term market decline. However, sectors like GreenTech, EVs, and AI are defying this slowdown, with silver being a key component in these industries due to its unmatched conductivity. Despite potential market crashes, the demand for silver remains high as it forms a small percentage of total costs in these industries. Meanwhile, the global economy is showing signs of stagflation, which historically has been beneficial for silver as investors seek hard stores of value.

➡ The article discusses the potential for a global economic crisis, with a focus on the role of gold and silver. It suggests that in times of economic uncertainty, investors often turn to these precious metals as a safe haven. The author believes that current economic indicators, such as rising inflation and falling growth, are similar to those seen in the 1970s, a period when the value of silver increased significantly. The article concludes by suggesting that investing in silver now could provide significant returns in the future, especially in the face of potential stagflation and global conflict.

➡ The article discusses the increasing demand for energy and the impact on silver production. It suggests that despite current fears and a decrease in silver production, the demand for silver from tech industries and investors is growing. The author believes this is leading to a potential super cycle, where silver’s value will significantly increase. The reader is encouraged to consider their position before this potential increase, and reminded to seek professional advice before making investment decisions.

The Trump administration is an increase in volatility. And that really means it could be either really, really good or really, really bad, because the range has gone from this wide to that wide. And it could be really, really good. It could be really, really bad. And when anybody with that much power starts talking like that, I’m out. I head for the exit. You’re watching Silver News Daily. Subscribe for more. Everyone’s panicking. Headlines are screaming collapse. Silver just posted its worst weekly drop since 2020. Markets are bleeding, commodities are cratering, and investors are dumping anything that smells like risk.

But what if I told you that this crash is the exact setup for Silver’s most violent rally in decades? Because while most are running for cover, Clem Chambers says this is precisely the moment to pounce. A global trade war, energy crisis, and mounting recession. Fears are tearing the economic fabric apart. And beneath the surface, a historic opportunity is forming. You see, silver isn’t just another commodity. It’s the only metal that behaves like both money and industry. And when markets go haywire, it doesn’t play by the rules. Right now, the mainstream is getting it completely wrong. And by the time they figure it out, silver might already be past $50 and gunning for triple digits.

Stay with me, because what you’re about to hear might completely flip your view on where silver is heading next. Since I was a little kid, they always said free trade was the way that you elevate the world. And you know, free trade is good, tariffs are bad. And obviously that, that. Look back to things like Smoot Hawley or whatever it was called back in 1920. Lower. 1930. Lower. What? Basically meant that the Wall street crash became the Great Depression. And the idea of economics is, you know, one country’s good at eggs and another country’s good at omelets.

And you have international trade, so everybody does. Well, that’s the whole point about the market. Somebody’s got too much gold, somebody’s got too much risk, they swap the risk and gold transaction is made and everybody’s laughing. It’s a win win. And free trade is meant to be a win, win. And when the big 800 pound gorilla of world trade says, no, no, I’m going to have tariffs now, no, no, no, it’s not surprising that everybody goes, oh no, oh no, run away, oh no, it’s the end of the world as we know it. Well, happily, at least for now, most people don’t realize it’s the end of the world as we know it.

Certainly the end of the economic world. And therefore they’re not really running for the exit as fast as they’re probably going to end up running over the next few days or a few weeks or a few months. Because no, it’s a thing, it’s real. No one’s going to turn it around. No one’s going to say, let’s not have any of this. And it’s going to be, you know, it’s going to be globally economically damaging. And you know, you could make America great again by making everybody else worse off for sure. You know, if everybody’s starving, the people with food are the ones that are rich.

But it’s a beggar thy neighbor tactic. And a lot of people are neighbors in this game. And you know, the markets don’t like risk, they don’t like bad news, they don’t like instability. You get high valuations when everything’s stable. So when you have instability, asset prices crater. And here we are, asset prices are cratering. And you know, any, I think America’s going to lose in net wealth in the stock market about the equivalent of 50% of the national debt. So it’s not necessarily going to be good news for America. I think it’s going to be bad news.

But we will see, we’ll will see that. 3D chess players know best. They think, you know, the, the rest of the world should suffer. And you know, silver just had a 12.7% collapse in a single week. The biggest drop we’ve seen since the chaos of 2020. And it’s not alone. Commodities across the board are slipping as recession fears tighten their grip. The March 2025 year US manufacturing PMI slipped below the critical 50 mark to 49.8, signaling contraction, not growth. Yields are dropping, inflation is sticking, and consumer confidence is hitting new lows. This is the textbook setup for collapsing commodity demand.

Industrial metals like copper, zinc and lead are already reacting, falling in price as global demand evaporates. And silver. On the surface, it looks like it’s just another casualty of the downturn. Analysts from Heraeus are already warning that silver could underperform gold this year. But here’s the thing. They’re only telling half the story. Because while the headlines scream doom, something entirely different is building behind the scenes. Silver’s not falling because it’s weak. It’s falling because it’s misunderstood. And the deeper this recession digs in, the more explosive the rebound could become. The setup is forming and those who know where to look are already positioning.

I mean, the point is there’s statesmanship used to Be a thing, right? And, oh, statesman’s gone. Anything that even looks even slightly like statesman is gone. Yeah, and you’ve got people making random statements and making random claims and doing random things that. That belong more to the Middle Ages. I mean, look at that map. That’s a bit poking out there. We’ll have that. I mean, that’s the sort of thing they used to say in the 17th century, you know, not, oh, why Canada? Why have you got a straight line as a border? That can’t be right.

Can we be a bit more. Can we have it? Can you be one of. You don’t. I mean, what movie did that come out of? I mean, you, you in, in. In global statesmanship, global policy. You don’t talk like that. Even if you thought. Even if you thought like that, you don’t talk like that. Oh, we’ll have Greenland now, please. So, you know, that’s like. It’s, it’s. It’s such a shocking thing that, that I don’t. I mean, people aren’t really prepared to take it as humor. I mean, look, Mark Carney is about as smoother operators you can get.

And listen to what he’s saying. He’s like almost declaring war. Elbows out. What’s that mean? You got to go around an elbow. An American now and Europe. I mean, Europe is just the biggest favor that’s ever happened to Europe because Europe will now be a superpower, and it will be the superpower. It’s 550 million people in Europe and they all per head have roughly the same gdp. I think it’s actually higher than America. So it will outnumber and outgun America, which is, you know, the whole. America’s tried to have hegemony since the Second World War by making Europe dependent on it.

Look, if we run the army, they haven’t really got much of a say, have they? They’ll have to be our friend and, and they’ll be on our side and we’ll fight the communists and everything will be great. And the American soldiers aren’t there because America didn’t think it was in their interest is to make Europe dependent. Well, Europe’s not going to be dependent now that that call is cut. You can’t go snippety. Snip and type, oh, sorry, I didn’t mean it. Type back again. You know, this is global strategy here. And you know, baby and the bath horse got thrown out here and, And Europe will be the global superpower now.

And you know, the damage, however long it’s going to be being reeked will not, will not be repaired easily because, you know, once somebody’s kicked your legs out from under you, it’s hard to trust them again, isn’t it? And what’s worse, the thing that nobody’s noticed, okay, so this is waste and theft and fraud and all that stuff in the American government, let’s call it, you know, Muskrat. This is 2 trillion. Let’s say it’s 1. Okay, where’s that 1 trillion going? It’s going into the economy. Doesn’t matter. It’s going to crypto bros with tattoos up to their ears and with long beards.

Unlike copper or zinc or silver wears two hats. And that changes everything. Half of its demand comes from industry, sure, but the other half, it’s monetary. It’s a store of value, a safe haven. And in times of crisis, it becomes the metal of last resort. This dual identity is what makes silver so dangerous to ignore. Because when the economy slows, industrial demand for metals does drop. But silver’s not like the others. Even when factories slow down, the world still needs silver. Not just for tech and energy, but for financial insurance. That’s why it tends to get caught in the initial panic selling with other commodities and then roars back stronger than any of them.

And that industrial side, it’s not going anywhere. EVs, solar panels, AI powered electronics, these aren’t just future trends. They’re exploding sectors right now, even amid recession. Unlike luxury goods or real estate, these industries keep growing because they’re part of a larger transformation. Silver’s role in these technologies is irreplaceable. So, yes, we’re seeing a slowdown, but it’s not crushing silver the way some expect. If anything, it’s just masking the storm that’s coming. The kind of storm where silver’s full potential is finally unleashed. Ow. It’s a discount county cash flow thing, right? So if you’re going to live 30 years, your assets aren’t really worth that much, are they? Because you’re going to be not on the planet surface pretty soon.

The moment you push out life expectancy, the moment assets become more and more and more and more valuable, because, you know, people have more and more value within themselves, etc. Etc. So longevity is one of the reasons why, you know, PE ratios are no longer 7 like they were in 1920, when people lived to 49 in America and child mortality was 1 in 5. Yeah, we live in this day and age where PEs are 30 and there is no much in the way of child mortality. You know, as human life becomes more valuable, so do assets.

And you turn that around, you, you make things more dangerous. I mean risk is just danger, right? You make things more dangerous, you make assets less valuable. And we’re on that road now, aren’t we? So what we might be going into is a good old fashioned bear market, not what they call a bear market these days, which is sort of, you know, oh, it’s gone down 25%. We’re now in a bear market, which is, you know, when they started saying that about 15 years ago, I couldn’t stop myself laughing and crying at the same time. That’s not what a bear market is.

A bear market is a market that trends down, that, that’s the direction it’s going is down. That’s a bear market. And a bull market is a market that trends up. And we’ve had that for best part of two generations now almost. Well, we could be going into the first bear market whether I can remember really. I mean certainly in my lifetime. I mean you could say there’s some bear markets in and around 70s, but since, you know, since Reagan it’s been a bull market, there’s been, there’s been a bull market. Up with corrections, down. Well, we could now be in the first bear market in living memory where it’s just going to go down and down and down.

Oh, it’s gone up, down and down and down. Oh, it’s gone up, down and down and down. And of course nobody but, you know, nobody but a historian like me, Tim put one at that, you know, has ever been in a bear market. They don’t even know what that is. Oh, buy the dip. Yeah, it’s going to be great. Well, you know, global conflict, worldwide tariffs, recession, depression and total global instability and everybody elbows out and iron curtain down. What’s that going to do to your PE ratios of 80 and your sales times 10 valuations? It’s going to just absolutely devastating them, isn’t it? Isn’t it? The secret weapon in silver’s setup is a little known concept called joint supply.

And once you understand it, everything starts to click. Mark Thornton from the Mises Institute breaks it down like this. Most silver isn’t mined from dedicated silver mines. It comes as a byproduct from mining other metals, copper, zinc, lead. That means silver supply isn’t really driven by silver demand. It’s driven by the demand for these industrial base metals. So when economic activity slows and companies cut back on copper and zinc production, guess what also dries up the flow of silver. It’s like beef and leather. If people stop buying steak, you don’t just get less beef, you get less leather, too.

That’s the trap silver is in right now. Industrial demand for base metals is falling. Mining output is dropping, and with it, the supply of silver is quietly being choked off. And this is where it gets interesting. Because even if silver demand stays flat or rises only slightly, a sudden tightening of supply can create a price shock. Most people aren’t tracking this. They just see the price drop and assume silver is doomed. But they don’t realize the supply side is being gutted. Setting up for a reversal that could hit with brutal speed. Yeah, well, we’re halfway there already, aren’t we? And we’re at sort of 12, 13% down.

Haven’t calculated it from the high, but really there’s only. There’s only one question. Is, is it going to crash? 25%, is it going to really crash? 30%, is it going to really, really crash? 50%, is it going to really, really, really, really, really crash? 75%. And pick your number. 75% was the NASDAQ crash of 2000, the Wall street crash of 29. And I mean, I can’t really be too bearish and think, oh, no, that’s too bearish, because it’s not one instability, it’s multiple instabilities. I mean, what’s going to happen to the stock market when America invades Canada? I mean, it’s not going to, is it? But, I mean, you know, the fact that you could even consider it a possibility is enough.

Yeah. And, you know, gold is going straight up because gold is for war. And, you know, it’s. It’s. We’re on the road, aren’t we? I mean, J.D. vance gave the world, you know, sent a memo only a few weeks ago that World War three has started. And, you know, you don’t have to interpret it like that, but you don’t need much of a degree in English comprehension to hear what he was really saying. And so, you know, it’s multiple levels of dire. I mean, you’ve got this tariff stuff, and I totally get it. I totally understand what they’re trying to do.

You know, I understand where they’re coming from. We’re telling the Europeans that they’ve got to, you know, deal with Russia while America deals with China. But how does that sound to you? That sounds pretty terrible to me. Tariffs, you know, global conflict, and then you’ve got all this, oh, I will have Greenland, please. Yeah. Oh, this line on the map, we don’t like. What’s that line on the map doing there? Oh, we don’t like that. I mean, any one of those three on their own is enough to crash the stock market. And you’ve got all three, you’ve got them all intersecting and you’ve got no end in sight of it.

And that’s, you know, if you just look at Russia, that’s bad news. If you look at China, that’s not, that’s not good news. Now you look at America, it’s a trifecta of chaos, isn’t it? And markets don’t like that. They don’t like that. Assets, you know, your life expectancy correlates with the value of assets. The longer you’re going to live, the more valuable assets are. Right. You can just work it. And then you throw energy into the mix and the supply picture goes from tight to critical. Mining is energy intensive, processing ore, refining metals, transporting them to market.

It all relies on cheap, reliable fuel. But as energy prices spike across the globe, the cost of extracting metals like copper, zinc and lead is soaring. That’s pushing marginal mines offline and scaling back production across the board. And remember, silver rides shotgun in the system. It’s not the driver, it’s the passenger. So when energy costs crush base metal mining, silver’s production gets crushed too, even if silver itself is still in demand. Thornton laid it out. Clearly, higher energy prices make the supply of these metals more difficult and more costly. As their supply drops, so does the byproduct, silver.

And it’s happening right now. That means we’re heading into a squeeze, a world where silver demand holds steady or climbs slightly due to safe haven flows and tech demand. But the actual physical supply available starts to vanish. Investors are sleeping on this. They’re staring at silver’s price drop and missing what it really means. Supply destruction is underway. And when the market wakes up to that, it won’t be a slow grind higher, it’ll be a vertical move. Well, I mean, you know, you might lose your dollar hegemony. Why you. Nothing wrong with the euro. Nothing wrong with the euro.

I mean, it’s got stable government. You should see the lady, that’s the President talk. She goes, oh, this will a bit difficult, you know, it’s all a bit difficult. Oh, yes, well, but we’re Europe and we have values and carry on. Very impressive. Very impressive, actually. Can string a sentence that’s coherent together. Yeah, very, very, very good. And Macron has gone full Napoleon, you know, and, and Europe is 550 million. Highly educated, unlike a lot of Americans, and, and very rich. Yeah. So you know all this nonsense about, you know, Europe being slow and stupid, that actually is American pr.

That is actually what America puts out there to say that Europe can be written off. That’s why it’s not. I mean, it’s a mistake for America or American hegemony because, I mean, the people on the other side would say, look, we’re going to cut the amount the government’s going to spend. We’re going to get them out the way. We’re going to put up these tariff barriers and rebuild manufacturing base in America. We will be a powerhouse again. We’ll stop making everybody else rich. You make everyone else rich to stop them going to war with you. So that’s quite a good strategy if you want peace and peace is good and war is bad.

Okay. But let’s forget all that. You know, we’re macho and we’re going to bring it all back to America. We’re going to put these tariff barriers up, rebuild America’s industrial superpower that it was before. We let it all run away and, and that’s it. We don’t care about anybody else. Well, that’s all well and good because you really got to cut that government budget right back. Right, right back. Yeah. So that you are actually, you don’t need people to be buying your treasury bonds to support your deficit. The deficit is all about pushing your dollars out into the world to have yourself as the international currency.

And that comes with a, with a very, very good bonus because you can print, you can manufacture money in the same way as you can dig gold out of the mountain. But you don’t need a mountain. You just need trees and paper and some ink. So manufacturing money that the world uses is a very, very good business model. And America’s been in that business since the Second World War. If it loses, that doesn’t matter. If there’s a fiscal, if there’s a trade balance, positive trade balance and a positive fiscal balance, you’ve got to bid that every thing right.

So that’s a strategy. But to do that, you have to dismantle the whole system as we know it. You have to dismantle your government, you have to dismantle world trade. And you try to all do it at once. That’s not a sign of competence. You might be able to get away with it. Every buy go. Oh, we’re going to do this now. We’ll have Greenland now, we’ll have Canada now. Maybe leave that to later it would do the tariffs now. Oh, okay, we’re done there. Now we’re going to upset everybody with something else. Oh, and now we’re going to blow up our public sector.

You might be able to do that over four years, but to do it in four weeks. And here’s where the paradox kicks in. Silver’s crashing, yet safe haven demand is quietly rising. It sounds contradictory, but in volatile markets it’s textbook. In the early stages of financial panic, everything sells off. Stocks, bonds, even gold and silver. But once the initial shock wears off, capital starts rotating into assets that offer protection. That’s when silver begins to separate from industrial metals and starts trading more like money. We’re seeing the first signs of that shift already. Silver rebounded to $30.05 this week after its massive dip, riding a wave of safe haven inflows triggered by recession fears and the intensifying global trade war.

Investors are nervous. Tariffs are back on the table. And the idea of a synchronized global downturn isn’t just theory anymore. It’s policy driven reality. Silver’s dual nature means it can drop like a commodity and then rise like a currency all in the same month. And that’s what makes it so explosive. When risk off sentiment takes hold and people begin looking for tangible stores of value, silver becomes one of the few places left to run. Is already happening under the surface. And the deeper the fear cuts, the higher silver’s monetary premium could climb to. Vegas is still going around the economy.

In fact, it’s probably going around faster that way than, than if it wasn’t spent that trillion dollars. If they, if they take that out of the budget, that’s not going into the economy. That’s a trillion dollars of cash flow that American, that American economy is not going to have. Right. It’s not going to be there. So when some, you know, fraudster who’s got his Social Security fraud system going goes into a bar and doesn’t spend $500 on a bottle of champagne, that bar ain’t going to make it. That’s what, that’s, that’s how economics work. That’s why printing money stimulates the economy.

Well, they’re about to pull out in a different in, in addition to jacking up prices with all these tariffs. So prices go up, people’s money’s not going up. People’s income stock that could be going up. Not in the short or medium term. Certainly not in the short term. And then they’re going to yank a trillion out of the cash flow of the economy. So a trillion dollars is coming out, which is what? There’s $3 a billion in population. So $3,000 ahead is coming out of the cash flow of America. So people are going to be $3,000 worse off because that money’s not going to be flashing around.

It’s not going to go into the supermarket, it’s not going to go into Vegas. It’s not going to go wherever that money’s going. It’s just not going to be going there. So you’ve got prices going up, you’ve got income going down. You’re going to get a recession. Like there’s, you know, it’s not really going to be one. It’s going to be a depression, economic depression, global instability, geopolitical chaos. Oh, well, stock market, it’s not going to crash, is it? No, no, it’s going to stay up. So it’s just a question of how deep it’s going to be.

How deep? Because it’s at least until the midterms and maybe when everybody goes, hold on a minute. I used to have a portfolio and now it’s gone. Oh, whose fault is that? Oh, it’s that guy’s fault. Oh, okay. Voting the Democrats again, that really is the only limiting factor, the only buffer for this runaway train. And so if the Republicans don’t lose the House in the Senate in 18 months time, it’s going to be four years of this. And who knows where it’s going to be then. Well, gold’s telling you, utter chaos. Gold is telling you where we’re going to be in four years.

Utter chaos. And it tells you the trend. Gold is going straight up, absolutely straight up. And that’s why it’s going absolutely straight up. Let’s talk about tariffs, because this is where things really start to spiral. Just last week, the US Dropped a bombshell with a sweeping package of reciprocal trade tariffs, reigniting tensions with key economic partners. And while precious metals, like silver, dodged the direct impact, the broader implications are impossible to ignore. Tariffs choke trade. They strangle supply chains. They inject inflation into every corner of the global economy. And most importantly, they spark uncertainty. Investors hate uncertainty.

Businesses hate it even more. And in that vacuum of predictability, capital rushes to safety. That’s why the silver price rebounded. Despite weak industrial signals. The fear of a global trade war, especially with the added weight of a potential recession, flips the script. Suddenly, silver isn’t just a struggling commodity. It’s a hedge, a shield, a line of defense against economic fragmentation. And it’s not just retail investors catching on Institutional flows are shifting too, with Comex vaults seeing big moves and ETF premiums starting to narrow. This isn’t just noise, it’s a structural repricing of silver’s role in a fractured financial system.

And if tariffs are here to stay, that repricing is only getting started. When they have that meeting go, right, we’re going to do that. No, no, no, next Wednesday. No, no, no, let’s not do it at all. All that stuff that goes on, you’ll never see that. And when they say no, they’re not going to do it, the market will do that. When they say, oh, we are going to do it, it’ll do that. But overall you have to be right about the middle picture, middle to long term picture and position for that. So for example, I’ve just lost a reasonable amount of money today in platinum and palladium.

Right. Because they’re the catalysts in petrol engines and diesel engines. And you don’t fight a war with Teslas, do you? You’ve got to have things that burn diesel and gasoline and they’re going to need cat converters and they’re going to need platinum and palladium and all that good stuff. And they only make 180 tons a year of platinum. 180 tons, that’s like, that’s like a, a boot, a trunk full of it every year. 180 tons, that’s zero. And, and you know, gold’s 3,000 tons. So they don’t make any of this stuff. Tiny, tiny amounts. And, and so I’m positioned for, you know, increasing geopolitical stress because China ain’t going to be putting lipo batteries in their tanks, are they? They’re going to be burning gasoline and diesel and those sort of things fit in with the hydrocarbon industries that were going to be made orphans two years ago and now are going to be the own absolutely back in fashion.

So energy banks, funnily enough, do well in these sort of times. Banks, what do badly is luxury. You know, Louis Vuitton handbags at four grand straight out the window. Yeah. Travel, you don’t go on holiday talking hour, do you? Et cetera, et cetera. There’s a whole load of things that don’t do well in conflict or stressful situations. But banks, steel, defense, agriculture, if you’re going to be in stocks, they’re the places to be. And I’ve got a few there just because I can’t bear to have no stocks at all. And people that are, are defense suppliers that people don’t realize as defense suppliers because then suddenly they just start scratching around for defense suppliers and they go, oh, I didn’t know they did that.

Oh, I have some of that. But pretty much everything else is, is going to be. The techs are going to get absolutely crushed. Absolutely crushed because they’ve got such incredible valuations that those valuations are only be kept aloft by peace and money flow. And money flows. That’s what’s going to bring gold down in the short term. There’s going to be so many people running for the exits and going to cash, that cash is going to drain out the market and that’ll pull everything down in the short term. And then once that settles, there’ll be a bifurcation between.

Now zoom in on the sectors that just won’t quit. GreenTech EVs, AI, these industries are not only surviving the slowdown, they’re defying it. And silver, it’s right at the heart of all of them. The solar industry alone is expected to consume over 140 million ounces of silver this year, making it one of the biggest single sources of industrial demand. And that’s not slowing down. Governments are doubling down on clean energy, pumping stimulus into solar expansion even as the broader economy contracts. Why? Because these are strategic sectors, not cyclical luxuries. Same story with EVs. Battery and charging tech rely on silver’s unmatched conductivity.

Every EV that rolls off the line is another quiet vote for long term silver demand. And let’s not forget AI. As processing power scales, so does the need for precision electronics. And again, silver is irreplaceable. The kicker, these industries don’t blink at higher silver prices. The metal makes up such a small percentage of their total cost, its demand is practically inelastic. That means even if silver shoots higher, they keep buying. So while traditional manufacturing may be slowing, silver’s biggest growth engines are still red hot. This isn’t the silver crash some are expecting. It’s a disguised setup for breakout demand.

Well, you know, war wars start at the top. So wars start in at the thought level. Okay, so ideas, religions. Yeah, and that’s where the wars start. They start with people’s ideologies and then they move down into trade wars. So you know, you’ve got the, oh, I don’t agree with what you believe in. Yeah. And everybody argues and nobody dies. Or not often anyway. And then you go down into trade wars and again, you know, people just go, oh, tariffs and mucking about and, and you can’t sell this here. And all that stuff. Right. And then it gets a little bit more rgbaji.

Well, pretty soon you’re down into land wars, aren’t you? That’s the pyramid. Inverted pyramid. We were cavemen. We didn’t have trade wars to fight. We didn’t have ideological wars to fight. We fought over land and, and, and food. Yeah. And as we got smarter and clever and more refined, so it tended to move up into trade wars and then into ideological wars. But, you know, the moment you put too much pressure at one level, it goes down to the level below, and it’s just a question of whether it goes from a trade war into a cold war into a hot war.

Yeah. But I can’t, I can only say what I’ve done, not what I should say other people should do because they have to look at their circumstances first of all. And I’m out. The only thing I’m really in is in gold. Everything else is cash because, you know, hopefully a crash like this is short. But I really don’t see the end of the tunnel. And if I did see a bright light, it might be the train coming the other way. So it’s really pretty. Pretty, pretty. Yeah. I can’t, I’m not able to plot that out. But traditionally, and you can look this up, you can look out what did well in the Second World War.

What does bad in the Second World War. Ultimately, not many things in a bad time come out the other end even stronger because they tend to do well in that period. And then when the period changes, they can’t adapt. Okay. But during a conflict, agriculture works. Yeah, still works. You know, stills is tanks in it. Yeah. And precious metal works. So you should look and work. And defense stocks work, obviously. Now, interestingly enough, American, a lot of American defense stocks came straight down when Trump got in. Right. And then as soon as France spoke, all the defense stocks in Europe went like that.

So obviously the Americans knew that they were going to do this pulling out a NATO thing or the next worst thing to putting out NATO and that people weren’t going to be buying their planes anymore because they didn’t like the kill switch in them. They have to make their own planes and own tanks and own missiles and own shells because you couldn’t rely on your ally to provide them or let you use them anymore. So the moment Trump got in, all those stocks went like that and all the assume as Vance spoke, all the European defense stocks went like that.

So this stuff happens before you know about it. That’s the thing to realize. So you have to have a medium to long term picture in your head that you’re clear on to be able to act because the actual things that occur. Meanwhile, the macro backdrop is starting to scream stagflation. And silver loves that environment. Inflation metrics are pushing past 4% even as growth indicators roll over. The Yield on the 10 year note has dropped nearly 80 basis points in under three months. While consumer sentiment is circling the drain. The Michigan Consumer Confidence Index down again. And expectations for future inflation are climbing.

That’s the textbook formula. Slow growth, high prices, falling confidence. It’s a nightmare for policymakers, but historically it’s been a gold mine for silver. In stagflationary periods, investors abandon financial assets and seek out hard stores of value. Gold gets the spotlight, sure, but silver, with its higher volatility and tighter supply, often outpaces it in percentage terms. Just look back at the 1970s as inflation soared and growth stalled. Silver shot up over 3,000% in less than a decade. We’re now looking at eerily similar. Tariffs inflame costs, energy keeps rising, manufacturing is contracting, and central banks, they’re cornered, caught between fighting inflation and rescuing growth.

That’s the kind of policy paralysis where silver thrives. Because when traditional tools break down, capital seeks shelter. And silver doesn’t just offer shelter, it offers escape velocity. I’ve got large quantities of precious metal and of course it’s dollar denominated, isn’t it dollar. And I’m not dollar denominated, but I’m sufficiently pessimistic to write that off because it’s going to be everybody else buying it, not necessarily just the Americans. So it will go up even if you’re dollar denominated. You’re going to do even better in a sense than somebody who’s not dollar denominated, who’s watching the dollar go that away.

But I’ve got a diversified portfolio of currency so I’m going to lose it somewhere. But it’s just like, oh no, oh no, balloon’s gone up, cold’s gone down in, in euros. Oh no. But anyway, that will wash out that, you know, if, if you’re, I’m not a trader. I mean I used to, but my stomach lining went. So I’ve got to, got to take a longer, more relaxed view on these matters. But look, gold is for war. I mean you can’t go around and tell Canada it’s got straight border and that’s, that’s offensive to you and expect people not to worry about your real enemies.

I mean, you know, I mean he’s he’s swinging the baseball bat at Iran. He’s dropped a few clogs on, on, on the Hutus or not Hutus, they’re the Africans, aren’t they? Houthis. And you know, what next? What Next? I mean, Mr. Vance has gone out and said the America’s gonna have a conflict with, with China. You better get on with fixing Russia on your own. I mean, what does that do? What does that do? Security of the world. And you know, gold is for war and you’ve got to have it if you’re gonna. If to fight a war, you’ve got to have gold.

That, that’s a country that doesn’t have gold, can’t really fire war. So you’ve got to have it because it’s the international currency of war. It’s not good for anything else, not even for teeth anymore. You know, maybe Rolexes, they won’t be buying many of them going forward at this rate. But it is the currency for war and that’s why China’s been buying it. You know, it’s got these bridges on legs. Taiwan is mainly hills, so it’s mainly cliffs, right? So they’ve got like three beaches they can come ashore on. And obviously that’s not going to work out very well.

So they built these ships on legs like, like war. The world’s fighting machines that can go up and elevate up onto, onto clifftops. And of course, America is up the creek without a paddle if China takes Taiwan because all their chips are made there, all their AI chips. And of course the future of global dominance is going to be the future of AI dominance. So you can’t have the Chinese cut off your chips now, can you? No. So, you know, they got the memo a few weeks ago. Yeah, we don’t like this NATO thing. Why are we defending you? Get on with it.

Which actually means we can’t fight a global war on two fronts. We have to take on China and that’s going to take our attention. You get on with this Russian stuff. Yeah. And you know, what does that tell you? I mean, you just listen to his speech and say that’s not what you can hear. Well, what does that do to the gold price? What does that do to what? What’s China thinking? Oh. Ah. Oh, I think we need some more of that gold we’re mining a lot, but I think we need more, please. More please. And where anybody, anybody at all in such a conflict or even close to a conflict or even round the corner from a conflict where isn’t around the corner these days.

Yeah, Japan has to buy it, Indonesia has to buy it. Malaysia has to buy, India has to buy it. Everybody has to buy gold because gold is bullets. And the moment if you see gold go down in a lump for no apparent reason, start trending down, they’re all going to have a hackathon, aren’t they? All going to go to the UN and meanwhile, the macro backdrop is starting to scream stagflation. And silver loves that environment. Inflation metrics are pushing past 4% even as growth indicators roll over. The Yield on the 10 year note has dropped nearly 80 basis points in under three months.

While consumer sentiment is circling the drain. The Michigan Consumer Confidence Index down again. And expectations for future inflation are climbing. That’s the textbook formula. Slow growth, high prices, falling confidence. It’s a nightmare for policymakers, but historically it’s been a gold mine for silver. In stagflationary periods, investors abandon financial assets and seek out hard stores of value. Gold gets the spotlight, sure, but silver, with its higher volatility and tighter supply, often outpaces it in percentage terms. Just look back at the 1970s as inflation soared and growth stalled. Silver shot up over 3,000% in less than a decade.

We’re now looking at eerily similar tariffs. Inflame costs, energy keeps rising, manufacturing is contracting, and central banks, they’re cornered, caught between fighting inflation and rescuing growth. That’s the kind of policy paralysis where silver thrives. Because when traditional tools break down, capital seeks shelter. And silver doesn’t just offer shelter, it offers escape velocity. Okay, I’ve only got a couple of crystal balls. I don’t know which ones are going to go how far, but I mean, I might be completely wrong. The point is I’m positioned in this helter skelter situation that we find ourselves in. And you’ve got to try to pick winners or go to cash and then work out what the hell you’re going to do with it.

Because if it all goes belly up, that’s going to get, you know, going to get shredded by inflation. What, I mean, what’s America going to do when those tariffs put the prices up? And you know, actually it’s balancing because it’s going to be stagflation. Maybe, maybe, maybe the, the lack of money coming into the system because of cutbacks in government spending will counteract that. Maybe. Or maybe they’ll end up because, you know, okay, I’m the American government and I take $1,000 and I waste it. I just give a load of people. Mobile phones Okay, I buy mobile phones off somebody and I give them away.

I just fritter it on something ridiculous. People counting trees. America spends 100 million every year counting trees. Okay, that seems like a bit of a waste to me. Let’s use that as an example. Okay, so I give out £100 million to tree counters. Well, they spend it, don’t they? And also they pay tax. So for half of that’s coming back. Well, now I don’t spend it, I don’t get half of it back, do I? And I don’t get the 1.3 multiplier of it on the economy. So I don’t get whatever, nearly half of it back on the 0.3 either.

So I don’t get.06 of it back anyway. I don’t get any of it. So my tax take goes. Well, what happens to my deficit then? Oh, funny enough, my deficit doesn’t. Doesn’t go down. It stays the same. Oh, what are you going to do now then? Well, I’m going to carry on printing money, but economic activities dropped. Now I’m printing money. Well, that’s inflationary, isn’t it? So you’ve got to be able to balance your fiscal deficit or get your fiscal back to zero. And that’s drift. That’s very difficult when you’re cutting off everyone’s money supply, which you then tax back again and then you’ve got.

You get your balance of payments back together again. Yeah. Which has always been 500 billion in the wrong way around. So you’ve got to do these tariffs which put the prices up, which means people got less to spend on actual things and they’re paying this kind of stealth tax. Are you gonna, Are you actually gonna have a fiscal. Are you gonna have happiness and joy? Clinton, he had a fiscal surplus because the economy was so strong. The money was flowing in from every corner. Well, obviously the politicians found ways of blowing that, but nonetheless, you don’t tend to get fiscal surpluses when you’ve got a recession.

And if you jack up prices through tariffs and you cut down people’s income by having austerity, really deep austerity, 15% austerity, and your stock market, which way is it going? That’s all you have to know. You know, all you have to know is which way is the market going? Doesn’t matter how far, just the direction. Yeah. And if it’s going down, very difficult to make money. If it’s going up, very easy. Right. As most people have learned over the last 20 years. But you know, it’s about to get very, very, very well today, yesterday, very spicy.

I wrote on Twitter, on Twitter X. You can check me out on X if you dare. On the 4th of March, I said Trump crash, question mark. That was rhetorical, of course. And this is exactly why Clem Chambers isn’t running from Silver. He’s running toward it. While panic dominates the headlines, Chambers sees a contrarian opportunity unfolding beneath the chaos. His view. Crashes create entry points. And right now, Silver’s crash isn’t signaling weakness, it’s flashing a once in a decade entry. For those who understand the long game, Chambers isn’t guessing. He’s watching industrial demand hold firm even as economic sentiment nosedives.

He’s tracking energy costs that are gutting base metal supply. He’s seeing the early signs of safe haven, rotation and institutional metal flows ramping up, not down. He knows how joint supply works. He knows how stagflation warps markets. And most importantly, he understands timing. It’s not about chasing Silver when the headlines turn bullish. It’s about positioning before the floodgates open. That’s why he’s not phased by a $29 price tag. To him, that’s not a red flag, it’s a green light. Because once Silver crosses back above $35 and breaks that resistance wall, the narrative will shift, momentum will build, and by then the easy money will already be gone.

Play while Rome burns. Then you, you, you try to pick out the winners, you know, while the lava’s raining down on you. And to me, precious metals is, is a bit of a no brainer. And palladium, I mean it can go, it can quadruple very easily. It’s a very, very fragile commodity and I think it might have even been $4,000 not too long ago. So four times the current price. And the reason it’s so repressed, suppressed is that everybody’s going, everyone’s was going, is going electric and all those cat converters are going to get ground up, put in a can, shipped to China to be refined.

Well, maybe that’s not going to be happening anymore. And you know, the, the thing about this is the big thing and it has been a big theme up to now, but for slightly different reasons is AI equals pure energy. To make AI, you have to burn energy. That’s it. It’s like crypto on crack. Yeah, the things that do the AI training, not the playing but the actual training of all the data and which you can spend 100 million on energy to make. That model is coming down in price but that gives you an idea of how much energy, electricity that is.

Yeah. AI equals energy. Intelligence equals energy. Right now that sounds fine until you realize there’s no second place in AI. If I got my AI than you, you’re toast. You’re absolute toast. I’ll dominate you. I’ll take everything because I’m smarter than you. So you, you’re, you’re like my dog. You’ve got no hope against me because I got more intelligence than you. You’re completely toast, aren’t you? There’s no second place. No second place. And therefore there’s no limit to the demand. If you’re China and you’re America, or even if you’re Europe and you’re America, the one that comes number two in the AI race.

That’s it, forget it. Go home. You know they’ll put you on a reservation. So there’s no second place in AI. Well, AI is energy. So there’s an infinite demand for energy. All this globe climate change stuff, that’s all dead because they’ll be boiling the oceans to be number one. Absolutely boiling the oceans. Now there’s global conflict. Oh, joy, joy. And you’re going to want all your equipment running on AI, aren’t you? Because you better not have no AI when the other guy’s gun’s got it. Yeah. So there’s no limit to how much energy is going to be demanded.

So there’s no limit to energy demand. So you can forget writing off hydrocarbons as an orphan energy. Well, you can get your palladium, palladium cat converter there just to make it slightly less, more damaging. Now, you only got 180 tons of it ever coming out of the ground every year. So that’s only at some point it’s just going to go, you know. So here we are. Silver’s down, fear is up, and the crowd is running for the exits. But beneath the surface, something much bigger is brewing. Energy shocks are strangling mining output. Recession fears are suppressing base metal production and with it, silver supply.

Meanwhile, demand from tech and Safe Haven investors is only getting stronger. And the deeper this crisis goes, the more silver’s monetary side takes over. Clem Chambers sees it. Mark Thornton explained the mechanics. And if you’ve stayed with me through this whole discussion, you can see it too. This isn’t a typical crash. It’s the coiled spring moment before a potential super cycle. The panic is the setup. And when silver rebounds, not if, but when, the move could be unlike anything we’ve seen a generation. So the question isn’t whether Silver will recover. The question is, will you be watching from the sidelines or already positioned before the storm? If you found this breakdown valuable, make sure to hit that subscribe button so you never miss another deep dive.

And remember, none of this is financial advice. Always speak to a qualified professional before making any investment decisions.
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