➡ The article discusses the potential for a significant increase in the value of silver due to economic uncertainty and geopolitical pressure. It highlights the potential for silver mining companies to see substantial profits as the price of silver rises, due to their operational leverage. The article also mentions the potential for trade wars to disrupt the flow of commodities like silver, leading to strategic repositioning by financial institutions. Lastly, it warns of the potential for a significant economic downturn, but suggests that owning silver could be a safe investment during such times.

➡ The US dollar’s value is decreasing, causing investors to turn to hard assets like silver and gold. As the dollar weakens, the cost of imports rises, making American goods cheaper globally but the materials to make them, like silver, become more expensive due to high demand. This cycle causes silver prices to rise further, making it a good investment strategy. Meanwhile, the supply of silver is struggling to meet the increasing demand, which could lead to a significant increase in its price.

➡ Silver is becoming increasingly important due to its use in solar energy, electric vehicles, and advanced electronics. Despite being underpriced, its demand is growing rapidly due to technological advancements and the shift away from fossil fuels. Meanwhile, the Federal Reserve’s actions risk triggering a financial crisis, and as trust in paper money decreases, people are turning to tangible assets like silver. The current geopolitical situation and potential for further disruptions make investing in industrial metals risky, but silver and uranium present unique opportunities due to their industrial and monetary uses.

➡ The article discusses the current economic condition known as stagflation, a harmful mix of rising inflation and stagnant growth, which can negatively impact investors, consumers, and governments. It highlights how silver, due to its monetary and industrial value, thrives in such conditions, becoming an essential asset as it did in the 1970s. The author also mentions the unpredictability of the uranium market and the potential for investment opportunities. Lastly, the article warns of a looming financial reset and encourages readers to be prepared for significant changes in the value of silver.

Foreign. You’re watching Silver News Daily. Subscribe for more. But I do think that there is a very substantial still chance ahead of us of that, you know, much more pain to come. Don’t underestimate Trump shock. You. You cannot rewire the entire global financial system and expect, you know, just a few, you know, a few mild corrections along the way, you know, or even just sort of flirting with a bear market for the, for a day on the S&P 500. Right. You know, that’s nowhere near the kind of pain that actually succeeding at changing the global financial order.

Right. If the Fed’s tools no longer have their desired impact on the bond markets and therefore interest rates, that’s a serious problem for the Fed. So I think he was pretty much forced by reality to give this warning. And I think all investors, not just metals investors, should pay very careful attention to this. We are standing at the edge of a silver supernova, a moment where financial instability, industrial hunger, and geopolitical upheaval collide to create one of the most explosive setups in modern market history. This isn’t about a simple price rally. It’s about a fundamental realignment of value where hard assets rise from the ashes of paper wealth and silver takes its place as a cornerstone of the post dollar world.

As central banks lose control, as supply chains choke, and as investors wake up to the illusion of stability, silver is preparing to do what it has always done in moments of chaos, detonate. Whether it’s $50, $100 some or beyond. The coming move in silver isn’t just about speculation. It’s about survival, about positioning yourself on the right side of a financial reset that’s already in motion. So now the question is simple. Will you be watching from the sidelines, or will you be ahead of the curve, ready to move when the system flinches? Because when this wave hits, it will move fast, and those who hesitate will be left behind.

Make sure you subscribe to stay ahead of what’s coming, because we’re just getting started. And remember, this is not financial advice. Always speak to a licensed professional before making any investment decisions. Sure. You know, I’m not one for much arm waving and jumping up and down, but that really was extraordinary. The Fed never predicts a recession. I mean, central banks in general don’t. I think Andrew Bailey at the BOV is the only one I can even remember ever coming close. Right. So for the Fed to issue this kind of warning and, you know, couched in all kinds of calming terms of it’s transitory, it’s Just the tariffs, it’s not our fault.

Great, great scapegoat there. But it’s still, the fact is he’s done it right. You know, he has warned both of the stag and the inflation that he earlier said he didn’t see signs of either. So. And the really extraordinary thing is, if it’d be one thing, if he was just saying, oh, I think we might have some inflation we’ll have to deal with because they think they have a tool for that, or it might be another if he said, oh, I just think, I think we’re going to have some economic weakness in the jobs or market or whatever because they have the tool for dealing with that.

But if you have economic weakness and high inflation at the same time, they have no tool for dealing with that. When he was asked about how the Fed would deal with stagflation and an unusual question a couple interviews ago, or Fed days ago, he said, our plan is not to let it happen, not to have it, because they know that their tool of fiddling with interest rates is one tool. It goes one way or the other in their model. So for him to even admit that this was possible. And of course, he didn’t predict stagflation. He didn’t use that word, you know, but he said that the Fed’s dual mandate, jobs versus prices, could come in detention.

That is a, you know, in Fed speak, that is a jumping up and down, waving red flags, alarm button. And, you know, I’m not surprised that the markets had a very volatile day that day. But if anything, I think they’re underestimating the importance of what Powell just said. And I know in our audience, a lot of people don’t believe anything Powell says. And no, I’m not saying I believe suddenly that Powell has become a fountain of trut truth. But let’s put it this way. He wouldn’t say anything even remotely like this unless he was pretty darn sure that something wicked this way comes.

I mean, if everything was, you know, probably okay, and there’s very, very little probability of a problem, why would he even go there? You know, if he, if he says, though, that everything’s fine, you know, that strong and resilient that we keep hearing about, right? And next month it turns out that, you know, inflation comes screaming back, you know, all because of tariffs, of course, but labor weakens at the same time, all because of Trump, of course. But if these things happen just after he says everything’s fine, he, you know, he looks like a fool. The Fed loses all credibility and you know, he has already lost credibility with you and me, my friend.

But when I say credibility or when the markets talk about Fed credibility, they’re talking about the bond market. The bond market vigilantes, if you will. Right. If. If the Fed’s tools no longer have their desired impact on the bond markets and therefore interest rates, that’s a serious problem for the Fed. So I think he was pretty much forced by reality to give this warning. And I think all investors, not just metals investors, should pay very careful attention to this. But as silver sores and miners ride the wave, another part of the market quietly begins to collapse.

Retail. The same price explosion that rewards investors also pushes silver out of reach for everyday buyers. At $100 an ounce, silver jewelry, coins, and collector bars suddenly shift from luxury to liability. It’s not just too expensive, it’s impractical. And that has ripple effects that most people aren’t prepared for. When silver reaches those levels, traditional demand vanishes almost overnight. Jewelry sales at stores like Tiffany and Kobany nosedive. Bullion dealers face evaporating retail traffic. Coin collectors retreat. The people who once supported the market’s bottom layer step away, not because they want to, but because they have to. And that creates a strange paradox.

Just as industrial users and institutional buyers that are scrambling to acquire more everyday demand collapses, creating a bifurcated market with completely opposing forces. This split has happened before. During silver’s 2011 surge, mints struggled to meet demand from investors, while jewelry sales plummeted. This time, the gap could be even more extreme. Industrial buyers won’t stop. They can’t. They need silver to produce solar panels, electric vehicles, and medical equipment. But with retail sidelined, the entire pricing dynamic becomes dependent on industrial need and investor fear. And both are rising fast. For individuals, this means one thing. The days of buying silver coins and jewelry as casual investments or heirlooms could be over, at least for now.

At $100, silver, every ounce becomes a strategic asset, not a sentimental one. And the companies most exposed to retail silver, they’ll be forced to pivot or risk being wiped out entirely. This isn’t just a price movement. It’s a total market transformation. And only those who see it coming will know how to navigate it. Hard to say. You know, I keep saying, amongst others, I’m not the only one that we’re in uncharted waters. So it would be pretty arrogant for me to then proceed to whip out a chart and say, okay, here’s where I think we’re going, right? I do think sort of pulling back to the even bigger macro.

I do think that the long term consequences of all the, all the COVID lockdowns and all the trillions of spending that have never stopped. Right. You know, that is inflationary. Regardless of this, if Trump shock adds even more labor market weakness to what we would otherwise see, then, you know, that can exacerbate the stagflationary outcome. Let me just say two things. So you know, so I don’t have a price target here to give you or I don’t have a number to give you. And I think that on the one, I was going to say hand, but wolves have paws.

So on one paw, stagflation is going to remind Everybody in the 1970s. And I’m sure that feeds into gold, gold and silver, because everybody remembers what happened in the 1970s. But there’s no law of economics that says that every stagflationary event will be similar or that they’re all the same. I mean, this clearly is quite different. I mean, you could say, oh well, we had oil shock in the 1970s, now we have Trump shock now. But they’re very different things. I mean, oil shock was a price shock on an important economic input. Trump shock. Is Trump trying to, for better or for worse, I mean, even if you agree with him, I think you’ll agree with me that what he’s doing is attempting major surgery on the entire global economic order to put America first, as he says.

You know, I agree with that or disagree with that. That is a huge thing that is shocking to the system and it will have powerful repercussions for years to come. That would happen if he stopped today. Just upsetting the Apple card as he has done has already unleashed all kinds of uncertainty and it has all kinds of players on the international stage looking to reroute, rewire, or at the very least back up their systems so as not to rely so much on the US anymore. So this is very different from what happened before. But you know, what else are people going to compare to? So I’m without giving you specific targets, I’ll be happy.

While silver’s physical price could explode under stagflation and geopolitical pressure, there’s another part of the story that could offer even bigger upside. Silver miners. These companies don’t just track silver’s price, they amplify it. In passable markets, the best silver miners delivered returns of 300%, 500%, even 1,000%, not because silver rose, but because their margins balloon as the metals value outpaced their costs. Here’s how it works. Mining companies operate with fixed expenses. Labor, equipment, energy, all relatively stable. But when the price of silver surges, every additional dollar is nearly pure profit. This creates what’s called operational leverage.

And it’s why miners often lead the charge in a metals bull run. Take Pan American silver or hecla mining. When silver last made a major move, their stock prices multiplied. And right now the setup looks eerily similar. Smaller, less known miners could see even more explosive gains. These are the plays that smart money loves to scoop up. Early low market cap, high silver exposure and massive potential upside. And then There are the ETFs, SYL, CLJ, SLV, baskets of silver stocks and physical holdings that give investors exposure without the individual risk of stock picking. But timing is everything.

Once silver breaks through major resistance levels, say $35, then $50 money will flood into the sector. Retail investors, institutional funds, hedge managers, they’ll all come chasing momentum. And when that happens, the miners will already be halfway through the roof. That’s why the shrewd move isn’t to wait for the headlines. It’s to understand the leverage built into these mining operations and act before the crowd does. In a world where paper assets are wobbling, silver miners offer one of the last asymmetrical bets left. High risk, yes, but even higher reward if silver enters super cycle territory. Happy. If I’m right about the general outline of we still have highly inflationary trends in place and then we have, I would say new we, we had signs of economic weakness before.

You and I have talked about them for years. They never produced an official recession, arguably a rolling recession. And now we may get a, like a recession recession, even if it’s short lived because of Trump shock. So, so I think it’s reasonable for people to, or rather lacking any others, you know, North Star to guide by and even if the charts are broken because we’re in uncharted waters, people are going to remember what happened in the 70s. So I think that’s relevant. But I, I do think it’s dangerous to assume that things will look just like the 70s.

Circumstances are very different and particularly for, you know, our favorite monetary metal, gold. I guess I shouldn’t presume that you may love silver more than gold. I don’t know what your personal preference is there, Elijah, but as money right now, gold takes the prize in my view. And we have to remember that in the 1970s situation, gold was coming off of price control, right? Gold rather the dollar was defined as a certain amount of gold. And that went away when Richard Nixon closed the gold window in 1971. That’s not the case now. And we’re going into this situation.

Well, okay, it’s over 3,300 now, as you and I speak. But it was. I forget where it was on January 20th. What. But it was in the high 2000s, so you can’t really say that we were starting at, you know, this price control level that was artificially low. You could say it was artificially. No, but not like that. So. So it’s a very different circumstance. And I. This may sound like I’m not being very helpful. You know, what people want is, you know, here’s the answer. Do this, you’ll make a fortune. Right? But if I say that and I’m wrong, then I don’t do you any favors.

I think I’m. I’m better served, particularly for gold bugs and silver bugs, to warn them that assuming that anything will look just like the 70s is a huge mistake. But you know what? You can’t go broke owning bullion. I mean, that’s not a speculation. It’s not even an investment. That’s savings. What we do with the gold stocks, that sort of thing, that’s different. We can go there if you want. But this isn’t just a domestic issue. It’s a global firestorm, and silver is right in the middle of it. As the world fractures into competing economic blocks, trade wars are no longer a threat.

They’re reality. Tariff fears, especially between the US and its largest trading partners, have begun to disrupt the flow of critical commodities. Gold and silver are now being redirected across borders like never before as investors and institutions scramble to secure physical supply ahead of potential restrictions. Look no further than what just happened on the COMEX. In a matter of weeks, gold inflows surged by 20% as concerns over US tariffs sent shockwaves through the metals market. Silver shipments followed close behind, smaller in scale, but still significant, as warehouses in New York began absorbing stock at a pace they haven’t seen in years.

This wasn’t a panic buy. It was a strategic repositioning. Financial institutions, sovereign wealth funds, even pension funds. They’re reading the writing on the wall and they’re hedging accordingly. Meanwhile, in Shanghai, it’s a different kind of action. Chinese investors, armed with insider knowledge and a long view of geopolitical risks are still in accumulation mode. Smart money isn’t just buying, it’s doubling down. Metrics from the Shanghai Gold Exchange show levels of buying intensity that blow last year’s numbers out of the water. And Remember, this is happening while western markets are still debating whether stagflation is even real. As capital flows shift and precious metals move strategically between continents, silver becomes more than an asset, it becomes a battleground.

Whoever controls it controls leverage. And with global uncertainty deepening by the day, the real war over silver has already begun. It’s just happening behind the scenes. The, the, the anarchist in me keeps on seeing the next, you know, recession and the next market crash around the corner. The, you know, Silver Beard speculator in me, you know, like every time I’ve been sure that was coming, I’ve been wrong. Except for once in the last, well, no, twice. I was sure the markets were gonna, were gonna take it on the chin in 2020 and then 2008. But every other year that hasn’t happened.

Every other year there’s been reasons to think, man, this is, this can’t go on. Right? So I’m very reluctant to say that, you know, that said, the, you know, the powder keg is there and there certainly are sparks going off all around. So I do not want to tell the audience that, hey, you know, we’ve already had our crash and that’s it, it’s safe. You know that. Absolutely. I won’t say, I don’t want to be the one saying, yes, the market is, you know, we’re going to have an official, I don’t want to mince words here.

The odds are not just non zero, the odds are not just some vague possibility. I think there is substantial risk of at least a 2020, if not 2008 scale event here. I don’t think a 20, 19, 29 level event is in the cards because I think the powers of B will flood the world with as much money as it takes to reflate, which was not done back then when you had to back your money with gold. So I don’t see something as protracted as that, but I do think that there is a very substantial still chance ahead of us of that, you know, much more pain to come.

I mean, don’t underestimate, Trump shock. You, you cannot rewire the entire global financial system and expect, you know, just a few, you know, a few mild corrections along the way or even just sort of flirting with a bear market for the, for a day on the S&P 500. Right. You know, that’s nowhere near the kind of pain that actually succeeding at changing the global financial order would cause along the way. That said, we have years and years of the Fed training investors that if there’s trouble, we’ll Come to the rescue. Some Fed. I’m not sure if there are voting members or not this year, but various different Fed spokespersons have said recently that, of course, if there’s systemic risk, the Fed is ready to come into the rescue.

So, you know, the markets know that. Again, I’m not being very helpful. I wish I could say, Elijah, this is what will happen. As the supply crunch tightens and demand spirals higher, there’s another accelerant quietly igniting the silver currency devaluation. The US Dollar, once the unshakable pillar of global finance, is showing cracks. Investors can feel it. Every new stimulus, every hike in national debt, every warning from the Fed, it all chips away at the dollar’s credibility. And when trust and fiat erodes, the world doesn’t wait. It flees to hard assets. That’s why silver, like gold, often surges as the dollar slips.

But unlike gold, silver’s upside is magnified by its utility. When the dollar weakens, the cost of imports soars. Think oil, electronics, foreign cars. Prices shoot up, draining the average consumer’s wallet. Inflation worsens and stagflation digs in. But here’s the flip side. American made goods suddenly look cheap to the rest of the world. That’s great, unless the materials needed to make them, like silver, become unaffordable due to skyrocketing global demand. This currency dynamic creates a vicious cycle. As silver becomes more expensive, the dollar weakens further, pushing more investors into precious metals, which then drives prices even higher.

That’s not just speculation. That’s economic reflex. And for investors who understand this, silver isn’t just a safe haven. It’s an offensive strategy against a collapsing currency regime. We’re already seeing the early signals. Smart investors are diversifying out of the dollar, pouring into silver, gold, and other tangible stores of value. Because in a world where fiat money can be printed at will, the assets that can’t be printed become priceless and silver scarce, versatile and underappreciated may just be the most powerful hedge of them all. Right, but the thing is, I have to be right if I say that there’s an either or option here.

I cannot tell you, and I wouldn’t believe anybody who did tell you, they knew exactly which it would be. I can tell you that. Not just, you know, saving and bullying because, you know, we know that, everybody knows that. But accumulating cash in a circumstance like this is not a mistake. Let’s say the bottom is in, right? And. And just, you know, Trump shocked. The worst has come. You know, Trump’s walked Back his reciprocal tariffs. All these deals are made and announced soon. And we all, you know, hug and kiss and make Singh Kumbaya and it’s all happy, happy, joy, joy from here somehow.

Except for China. We’ll ignore China somehow. That doesn’t matter anymore. Yeah, everything’s fine if that happens. We’re looking at a multi year bull market. Remember the Congress, the conservative fiscal hawks in Congress have just voted to lift the debt ceiling for years. Trillions and trillions. This is highly inflationary, so there are literally years ahead to make money if we are cautious. Now, you don’t have to race to get ahead of this. You don’t have to time the market. You can’t go broke accumulating cash. I mean, just look at what Warren Buffett does. And I know a lot of gold bugs don’t like Warren Buffett because of the pet rock remarks and so on, but he knows how to make money in the markets.

And what’s his portfolio doing? It’s going like this to cash. Sorry. The cash component is literally going vertical in bulk. Buffett’s portfolio, Doug Casey calls him an idiot savant. So like, even if you don’t like him, he does have that savant component going in the markets. And you ignore that at your own peril. So I’m personally accumulating cash and I have a short list. You know, we’ve talked about things that I’m looking forward to buying in the turmoil that I get ahead. And so what I’m saying is you won’t go broke collecting cash if we do get a market crash or even just more volatility, more correction, you know, a bear market without a crash, but just still more weakness.

You’ll be happy to have that cash to deploy in that market. And if not, oh, okay, we missed the bottom. But we still have the cash and we can still participate in what will be, I think, you know, years of opportunities ahead. Here’s where things start to get dangerous. Not because of demand, but because of what’s missing on the other side of the equation. Supply. You can’t have a price explosion without a fuse. And right now, silver’s supply chain is a live wire. The world is burning through silver faster than it can be replaced. And the mining industry is struggling to keep up.

We’re talking about four consecutive years of structural deficits, meaning demand has outpaced supply every single year and there’s no end in sight. The reason is simple. Nearly three quarters of all silver mined globally doesn’t even come from silver specific mines. It’s a byproduct dug up while extracting other metals like copper, lido and zinc. That means silver production isn’t driven by silver prices alone. It depends on the economics of other metals entirely. Even if silver skyrockets, miners can’t instantly ramp up output. And that’s the bottleneck. Meanwhile, leading producers like kghm, the Polish mining giant, are already pushing their operations to the limit.

In 2024, they produced over 1300 tons of silver, making them the largest silver mine in the world. But even that output is barely enough to dent global demand. Add in labor shortages, environmental regulations and rising extraction costs and you’ve got a supply chain that’s not just tight, it’s fragile. So now we’ve got skyrocketing industrial need, monetary panic driving investment demand, and a mining industry that stretched to the breaking point. This is the formula for a violent repricing of silver. When there’s not enough of a critical asset to go around, the market doesn’t negotiate, it reacts. And that reaction could send silver into territory most people aren’t prepared for.

Yes, I do. Let’s not mince words here. And, and you use the word crash. We’re not talking about another. I mean what we saw in the last week or two, that was just a, I think a relatively minor fluctuation. You know, gold corrected what, a hundred bucks or something from top to bottom, that was not a big deal. Not when you’re close to 3,000. Right. At $500 gold, a hundred dollar correction would have been a pretty darn big deal. Not where we are now. If we get an actual crash. Yes, I have no doubt, even if it seemed to be, that’s when gold should shine and soar as a safe haven.

Value liquidity doesn’t care. The margin call doesn’t care. When the margin clerk is selling your stocks for you, he doesn’t care or she doesn’ yes, if we get an actual crash. Yes, I do think everything gets whacked, including gold, which is actually one reason to accumulate cash. Because I was able to buy not just stocks. We always tell readers first. And that was even true back in my Casey’s days before putting doing our own money in the market. And I put out a shopping list, I kid you not, I researched it in November of 2008 and I published it at the beginning of December 2008.

And by the time I was able to buy those stocks, you know, the gold had already pulled a V shaped bottom. And if you recall, gold actually ended the year in the Black in 2008. And that happened in that December. And so by the time I was able to buy, the stocks were already up. I didn’t want to chase them. You know, markets have been going down, right? And by the end of December, they’re like doubled or something. So I. Anyway, the point of the story is, you know, I want to have cash and I want to be liquid.

I want to be ready to deploy. Should we be so lucky as to get that opportunity? Because absolutely no question in my mind at all, Elijah. If there’s a broader market cap crash and it affects gold, silver and the stocks, that will be very brief and that will be something that I would want to buy with both paws or all four. But I’m not sure that that’s going to happen. If, you know, the Powell put, you know, this. There could be a Trump put. We’ll see. If, if the markets show signs of interpreting bad news as good news, I probably want to go ahead and start deploying some of that cash in the near term.

You know, I’m not talking, you know, next year or something, but, you know, in the months immediately ahead. And right now, if, I mean, it’s with gold over 3,300, it’s hard to find it. What I would call a legitimate bargain, you know, an overlooked jam. If you’ve got a gold stock that has it budged at all in gold’s gone up and the gold stock hasn’t. But there’s probably something wrong with that story. I mean, there’s a reason why that stock hasn’t moved. But if I could find one that I thought was, was the real deal, you know, overlooked gem somehow, I would be willing to buy that stock today.

Well, it’s Good Friday. While silver’s role as a monetary hedge is gaining traction, its industrial demand is where the real fireworks begin. And it’s growing at a pace the market simply isn’t prepared for. Silver isn’t just a precious metal. It’s a building block of the modern economy. From solar panels and electric vehicles to 5G infrastructure and medical devices, silver is quietly powering the very technologies that the world depends on to survive and thrive through crisis. Take solar energy. As governments worldwide commit to ambitious green energy targets, silver demand from solar production alone has exploded. Photovoltaic cells rely on silver for their conductivity, and there’s no viable replacement.

More solar panels means more silver, period. And this isn’t a future scenario. It’s already happening. In 2024, industrial demand made up 83% of total silver use, a staggering figure that dwarfs gold’s 67% silver isn’t just being bought by investors, it’s being consumed by the gigawatt. Then there’s, there’s electric vehicles. Every EV on the road needs silver for its battery systems, electronics and charging infrastructure. As the world transitions away from fossil fuels, silver consumption is accelerating in lockstep. And let’s not forget about the relentless expansion of 5G networks, smart grids and advanced electronics, all of which rely on silver’s unique conductivity.

The kicker, all this demand is happening while silver is still dramatically underpriced. Investors looking only at its monetary value are missing the bigger picture. Silver isn’t just reacting to inflation, it’s being devoured by innovation. And with no signs of slowing down, this industrial surge is setting the stage for a perfect storm of demand pressure that could launch prices into the stratosphere. Yeah, I’m getting close to ready to deploy in the space. My outline, my view is still the same. You know, I was not surprised by the big correction that we saw in copper. That was basically what I was, you know, why I hadn’t deployed as, as your audience may recall, when we spoke about this before, I said, yes, copper is my top pick for 2025, but I’m not buying yet because I expect Trump shock to send industrial minerals lower first before the inflation and, you know, supply constraints and things kick in to push copper higher.

So that’s still unchanged. And you know, I’m, I’m, I can’t say that I’m pleased to be right about this because the amount of pain being caused to make me right about copper selling is not good for people. But I don’t think it’s done. I think it’s premature to say. Okay, you know, Trump’s backed off from the reciprocal tariffs. 10% is, we can live with that. I mean, we, I jokingly dismissed China from the conversation earlier. But even if the rest of the terrorist stuff just all goes away and all we deal with is China, that is huge.

We’re talking about the world’s number one and number two economies in a full blown trade war, really. I mean, it’s not just the tariffs, it’s bans on exporters of critical minerals. There’s other tit for tat things going on. I mean, the de minimis thing with the packaging, you know, the deal making for, what’s that social media platform that I don’t use. And that’s why I can’t remember that they’re trying to force the Chinese to sell TikTok. Right. I knew it wasn’t Instagram. Right? Right. So there’s all this stuff going on. This is. Let me put it this way.

All of this may seem like Trump is crazy, or maybe we just don’t understand is 4D chess. Take your pick. It all seems very confusing. But to give credit where due to my fellow Puerto Rican here and friend Brent Johnson, the dollar milkshake guy, it makes a lot more sense if you stop looking at it as an economic issue and start looking at it as realpolitik. Geopolitics, politics. If the US Wants to be the number one superpower in the world and China’s the rising challenger, and you’re the President of the United States and you want to oppose that, what are you going to do? This is not just an economic question.

So, you know, imposing, you know, huge tariffs on steel and aluminum may seem like crazy, right? It doesn’t make sense because it’s making everything more expensive in the United States, and it’ll be years before we build up these industries. But if you’re looking at China as a geopolitical opponent, well, that includes military. And you need a steel industry, Right? You need the auto industry. You need all these things that have military applications. And I’m not the only one saying this. Doomberg has talked about it as well. So what I’m saying is in the relevance to your question is if Trump’s goal here really isn’t about tariffs or even fentanyl or whatever the excuse is, but it’s about rebuilding America’s industrial might as a base for military prowess in the future, as a base for geopolitical dominance in this century, well, actually kind of all starts to make sense.

All of these actions fit this pattern. And if that’s the case, this is an if. I can’t read minds here. I don’t know what Trump’s thinking, but if this is what’s really going on, it’s not going away. It is huge. The Fed wants you to believe they’re in control, but the truth is they’re cornered. After two years of aggressive rate hikes, inflation still isn’t dead, growth is vanishing, and consumer sentiment is plunging. Every move the Federal Reserve makes now risks triggering another financial crisis. They raise rates, markets crack, they cut rates, inflation comes roaring back. It’s a trap of their own making.

And silver stands to benefit from every misstep. For decades, central banks kept markets calm by printing money, inflating asset bubbles, and propping up a fragile global order. But now that illusion is collapsing. Trust in fiat currencies is deteriorating fast. And when people lose faith in paper, they look for something real. That’s where silver comes in. Unlike stocks, bonds, or dollars, silver isn’t tied to a promise. It’s tied to physical demand. It’s scarce, it’s tangible, and it can’t be printed into oblivion. We’re seeing investors already starting to make that pivot. From retail buyers to sovereign nations, the shift into hard assets is underway.

Gold is surging, but silver, still lagging is where the asymmetric opportunity lies. And what makes silver even more potent in this environment is that it’s not just a store of value, It’s a functioning industrial metal that the economy literally can’t run without. As the Fed stumbles and inflation breaks loose, silver becomes not just a massive dislocation, but a necessity in a world where monetary confidence started already by the day. This isn’t an environment where I want to rush out and buy anything industrial. I mean, at some point we, you know, if US Industry is booming and so on, that will be a great idea for various things.

And I think even before then, there will be inflationary impacts, which is why I made my copper call last year. But in the near term, we’re talking about a massive, massive disruption of the world order and the way business has been done for decades. And that makes me cautious. So let’s see. I mean, in that context, like, if you think, oh, big sigh of relief, the reciprocal tariffs are gone. We can deal with 10%, but that’s thinking about it as a trade war, as a tariff war. But if you think about it in the geopolitical sense, the work is nowhere near done.

The next Trump shock could just completely blow the market’s expectations out of the water. In that context, I’m reluctant to buy any industrial metals like copper. So what would make me want to go long, or what would make me start wanting to deploy in copper or other things like that would be to see that things have sort of settled down on a track. Like the Trump agenda is now clear and the markets are pricing it in. In that context, I’m just less fearful of another Trump bombshell. You know, wake up and, you know, what’s after Liberation Day? I don’t know, Judgment Day.

You know, when I’m not worried about waking up to that headline, then that’s when I probably will be looking to deploy cash in that space. Meanwhile, I’ll still be looking for opportunities in the monetary metals, in which I include silver and uranium is different. Unlike other industrial metals or minerals or energy minerals, it’s Recession resistant and the supply constraints are, I think, real. And now like the new mines coming online. I know you’re going to ask about this, so sorry not to give you a chance to ask about it, but I’ll keep going on this because I do think this is important.

Uranium really is different. And I have been concerned about Trump shock here because he keeps talking denuclearization and, and so far my caution has done me fairly well. Uranium has continued to go lower, lower than the incentive price, I think, for the uranium miners. But that denuclearization talk, it doesn’t really seem to be going anywhere. Whereas the build out of nuclear power, that is pretty high on the Trump agenda. And it’s not just Trump himself, though he does mention it. It’s the people around him, Besant and others around him talking about this, his energy guy, I forgot the name, the energy guy.

This is a high level agenda item in clean, beautiful coal. Some people now see that as a threat to uranium. No, that’s. In addition, none of the people in Trump’s inner circle are saying, oh, it’s going to be coal instead of nuclear power, it’s coal. In addition, and Trump does talk, in almost every press conference, he hears his grievances and he talks about his great deals, including these new, you know, mega deals with tech companies that are going to build their AI centers and they’re going to build their own power plants. And as we know, you know, that can be clean, beautiful coal if you like.

But we know that the, you know, Microsoft and Oracle is they’re looking at smarts, they’re looking at nuclear. So I’m closer to pulling the trigger on uranium, gold and silver than I am copper at this time. Stagflation isn’t just a scary headline. It’s the most dangerous economic condition for investors, consumers and governments alike. It’s a rare and toxic mix of rising inflation and stagnant growth. And when it hits, traditional financial strategies fall apart. Stocks falter, bonds underperform, and central banks, they’re paralyzed. Raise rates and they crash. The economy cut rates and inflation explodes. It’s the ultimate no win scenario.

And silver thrives in it. Back in the 1970s, stagflation destroyed the value of the dollar and wrecked public trust and economic leadership. Sound familiar? Because we’re right back there again. Prices are rising across the board, from groceries to gas to rent, while wage growth stalls and job markets soften. At the same time, silver is stepping back into the spotlight just like it did five decades ago. And here’s why that matters. When inflation eats away at fiat currencies, investors turn to hard assets. And unlike gold, silver carries not just monetary value, but massive industrial utility. This is what makes silver so uniquely powerful in stagflationary periods.

It serves as both a hedge and a necessity. As consumer purchasing power falls, silver demand doesn’t go away, it grows. The more the system fractures, the more people and industries alike are forced to confront one simple truth. Silver isn’t optional, it’s essential. And when essential assets collide with scarcity and fear, the price doesn’t just rise, it detonates. I will admit that it has declined more than I’ll expect. I have to say. Also though, in January 2024, when all the uranium bulls were saying to the moon, to the moon, I would say, hey, a hundred bucks, you know, some correction here, just not an unreasonable thing to consider.

So I was right about the correction. I would say, you know, honestly, not to sugarcoat anything, I was wrong about its severity or duration. I did not expect Trump to make things worse with the denuclearization talk. I did not expect Kazatomprom to be able to ramp up as much as it has the world’s largest and lowest cost producer. It was having all kinds of problems and they seem to have partially overcome those, even partially more than I thought. But it’s worth reminding the audience because Atom Prom moved the gold posts, right? They kept missing how much uranium they were supposed to produce.

So they cut that guidance and so now, hey, yay, we’re beating guidance that we, we are still below production levels that they had previously guided for. So it’s not like there’s this huge flood of new uranium coming out of Kazakhstan. But they did ramp up more than I thought. So in some ways it’s reasonable, but in other ways it’s not. It’s gone on more than I thought. But here’s the key point. That’s spot uranium. And the spot market is subject to headline news, headline driven stuff. It also has other secondary suppliers. If you’re one of the several uranium companies or uranium developers that bought uranium when it was cheap inventory in order to sell it later when you were building your mine.

Well, some of those people are doing that, right? They’re building their mines and they need that money. So there is secondary uranium coming to market, but this is not some giant new supply source that’s just opened up. It was somewhat predictable. But my point though is that this sort of thing affects spot. It doesn’t affect the long term contract price, which is the, you know, the real uranium market, if you will. And that has held up. The, the volatility we’ve seen has been in the spot market, which of course has affected the share prices of the companies.

But the, the real market, the long term contract market, okay, it hasn’t continued soaring, but it hasn’t rolled over and gone south and, you know, in a significant way either. It’s still holding. So I’m it. You know what would make me wrong, Elijah? You know, if long term contract broke down in a big way, I’d have to say I overestimated this market. That hasn’t happened. The volatility. And spot, in my view, is just a source of opportunity. I’ve been struggling with my discipline because things have gotten cheap enough that I’ve been wanting to buy. I was just, again, not hoping for clarity, but maybe a little more clarity from Trump on this, or at least for him to stop scaring the market.

But I’m pretty close. I mean, there’s a lot of bargains out there. And spot has actually stopped falling. That’s not the same as recovering, but it could be carving out a bottom here, and that would be very bullish. The global economy is sleepwalking into a disaster, and almost nobody’s ready for what comes next. Inflation isn’t just rising, it’s metastasizing. Growth is stalling, debt is spiraling, and the Fed is backed into a corner. This is stagflation. The economic nightmare we were told couldn’t happen again. But it’s happening. And in the middle of it all, one metal is flashing like a siren through the chaos.

Silver. Some say it’s set to skyrocket. Others warn it could collapse. But one thing’s clear. Whatever happens next, silver won’t be standing still. We’ve seen this before. In the late 1970s, inflation surged, markets panicked, and silver exploded from $6 to nearly $50 in a frenzy of fear and speculation. Today, those same conditions are not just reappearing, they’re intensifying. Supply chains are brittle, central banks are desperate, and geopolitical tensions are stretching the financial system to its breaking point. With a Trump era financial reset looming, the question isn’t whether silver will move, it’s whether you’ll be prepared when it does.

So what exactly is pushing silver to the edge? Why are seasoned investors abandoning traditional assets and piling into precious metals like never before? And could $100 silver actually be on the table? Or are we staring down the barrel of a brutal collapse? Stick with me, because this is the story the mainstream won’t tell you. And by the end of it, you’ll know exactly what’s coming and what it could mean for your money.
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