Explore every episode of the podcast VRIC Media

Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Jim Rickards, New York Times bestselling author and editor of Strategic Intelligence, joins Darrell to discuss why inflation may become a deliberate tool for reducing America’s debt burden in real terms. Jim explains how debt-to-GDP can fall even while deficits remain large, why inflation favors borrowers over creditors, and how investors might think about hard assets, precious metals, natural resources, and selective leverage in that environment. He also discusses energy bottlenecks, Russia and Iran, gold’s resilience, uranium, rare earths, and why he believes the financial side of the AI boom could end badly even if the technology itself remains important. Follow Jim's work: https://x.com/RealJimRickards https://rickardswarning.com Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Can the U.S. inflate away its debt? 2:15 Why America is unlikely to default 4:49 Why debt-to-GDP matters more than the headline debt number 8:01 How the U.S. reduced its debt burden after World War II 9:25 Why growth and inflation can lower debt-to-GDP 13:16 How Jim would position for higher inflation 16:31 Hard assets, leverage and inflation winners 18:39 Energy markets and geopolitical risk 21:53 Why diesel is a critical inflation bottleneck 24:19 Ukraine, Russian refineries and energy supply 27:19 Russia, Nord Stream and possible energy deals 29:48 Could sanctions on Lukoil be lifted? 31:08 Why Jim wants a U.S.-Russia reset 32:23 Russia’s role in ending the Iran war 37:01 Why Jim remains bullish on gold 40:56 Jim’s role in the original petrodollar system 44:13 Outlook for uranium and rare earths 48:01 Why Jim is bearish on the AI investment boom Copyright © 2026 Cambridge House International Inc. All rights reserved.

Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Doomberg joins Darrell to discuss how they are positioned through today’s macro uncertainty, why they continue to accumulate gold, and the importance of following a disciplined investment framework instead of reacting emotionally to markets. Doomberg also shares concerns about the current geopolitical cycle and the risk of escalation in Europe, before turning to energy markets and explaining why today’s diesel shortage could eventually flip into a major glut. Check out Doomberg's work at https://doomberg.com Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 How Doomberg is positioned today 1:03 Building an investment strategy without emotion 5:19 Why knowing yourself matters as an investor 8:02 Gold, land and other hard assets 9:35 The discipline behind Doomberg’s gold strategy 12:45 Why Doomberg stopped trying to trade gold 14:15 Could the U.S. revalue gold? 14:55 The psychology behind gold investing 17:32 Why Doomberg avoids chasing clicks 19:25 Where are we in the Fourth Turning? 20:05 Why Doomberg sees a dangerous geopolitical phase 23:27 Authoritarianism and the left-right divide 25:38 Doomberg’s outlook for the energy sector 26:20 Why the diesel boom may be nearing its peak 27:37 The math behind the diesel shortage 29:35 How refinery changes could create a glut 31:19 Why shortages eventually become surpluses 32:28 Doomberg’s approach to research and publishing Copyright © 2026 Cambridge House International Inc. All rights reserved.

Lyn Alden joins Darrell to discuss the structural bear market in bonds, and why she believes the U.S. may already be living through a slow-moving sovereign debt crisis. Lyn also explores the transition toward a more multipolar world, central bank gold accumulation, reshoring and commodity demand, the outlook for mining equities, opportunities in Latin America, foreign currencies, and why she believes Bitcoin may have already formed a major bottom. Follow Lyn: https://x.com/LynAldenContact https://www.lynalden.com/ Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why bonds may be in a structural bear market 4:03 Are higher yields still a threat to banks? 8:09 Fiscal dominance and the “gradual print” 10:22 Where are we in the long-term debt cycle? 12:23 Why most people don’t understand the bigger macro cycles 17:14 Why the crisis may look like slow stagnation 20:49 Social Security and the generational divide 22:52 Are we already in a sovereign debt crisis? 25:26 Central bank gold buying and the multipolar world 30:48 Reshoring, critical minerals and commodity demand 35:44 Lyn’s outlook for the mining sector 38:23 How Lyn evaluates investments 42:04 Why Lyn remains bullish on Latin America 45:19 Foreign currencies and diversification 47:38 Lyn’s latest outlook for Bitcoin 49:29 Broken Money, fiction and what Lyn is writing next Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dr. Mark Thornton of the Mises Institute joins Darrell to discuss declining trust in government, rising interest in Austrian economics, and why he believes the current monetary system is creating deeper problems for savers and the middle class. Mark examines rising bond yields, the breakdown of the traditional 60/40 portfolio, growing allocations to gold and silver, and the possibility that governments attempt to inflate away their debt burdens. Check out Dr. Thornton's Work https://x.com/DrMarkThornton https://mises.org/ Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why interest in Austrian economics is growing 4:52 Government corruption and the case for smaller government 6:36 Why trust in money is breaking down 8:30 The long-term outlook for the dollar and bonds 10:34 Is the traditional 60/40 portfolio breaking down? 12:29 Why long-term bonds may no longer provide protection 14:44 Gold, silver and commodities as portfolio hedges 19:01 Can the U.S. inflate away its debt? 22:05 Why Mark favors austerity over inflation 24:17 How high could inflation go? 27:25 Is Washington seriously considering sound money? 29:16 Why Mark remains skeptical of a return to gold-backed money 32:07 Lessons from Reagan’s Gold Commission 35:49 The history behind U.S. gold coins and the dollar 40:27 America’s widening wealth gap 42:23 How Federal Reserve policy redistributes wealth 47:20 Why consumer spending is masking middle-class weakness 50:50 The link between Fed policy, Treasury debt and Congress 54:23 Why Mark believes spending cuts must be much larger Copyright © 2026 Cambridge House International Inc. All rights reserved.

Chris Vermeulen of The Technical Traders joins Darrell to discuss what rising Treasury yields could mean for stocks, real estate, bonds, and precious metals. Chris walks through the technical setup pointing toward potentially higher yields, explains why he believes long-duration bonds remain vulnerable, and shares his outlook for gold, silver, Bitcoin, copper, and the broader equity market. Check out Chris' work: https://x.com/TheTechTraders https://thetechnicaltraders.com/ Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Rising yields and pressure on markets 4:04 Are we entering a new era of higher yields? 5:07 Could the 10-year Treasury reach 8%? 7:23 Can the Fed stop a bond market crisis? 9:30 Why government intervention may not be enough 11:00 The collapse in long-term Treasury bonds 13:00 Why Chris still sees downside in TLT 15:11 Gold versus rising yields 17:31 Chris turns bearish on gold 19:39 Silver’s next downside target 20:32 How a stronger dollar could pressure metals 22:16 Where Chris is positioned now 23:55 How long his equity trades can last 25:47 Why foreign capital keeps moving into U.S. stocks 27:21 Bitcoin turns bullish again 29:02 Strategy and Bitcoin-related equities 31:25 Copper remains in an uptrend 33:35 What happens to commodities in a recession? 34:34 Why Chris warned investors near the metals peak Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dr. Nomi Prins of Prinsights Global joins Darrell to discuss renewed demand for gold, rising central bank purchases, and why she believes the metal remains well positioned despite higher bond yields and recent Fed tightening. She explains how sovereign reserve diversification, growing U.S. debt, Treasury buybacks, and the Fed’s expanding balance sheet are reshaping the financial system. Nomi also discusses gold repatriation by central banks, the role of physical gold as collateral, and why inflation remains heavily tied to energy prices. Nomi's links: https://x.com/nomiprins https://prinsightsglobal.com/ Get your tickets NOW for the Vancouver Resource Investment Conference. January 24th-25th, 2027: https://vricmedia.com/conference Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why gold ETF demand is surging 2:37 Why Nomi expects gold demand to continue 4:02 Gold producers, margins, and year-end momentum 5:27 Why central banks are choosing gold over Treasuries 7:14 The geopolitical shift behind reserve diversification 9:30 Why Nomi still sees gold moving higher 9:51 How governments manage rising debt 12:00 Why hard assets matter in a high-debt world 13:28 Are we already in a debt crisis? 14:44 Treasury buybacks and the return of QE-style policies 17:17 The Fed’s rate hike versus its growing balance sheet 19:00 Why rate hikes may do little to control real-world inflation 21:12 Gold repatriation and declining trust between nations 24:38 Why central banks want physical gold closer to home 26:52 Gold versus long-dated bonds Copyright © 2026 Cambridge House International Inc. All rights reserved.

Danielle DiMartino Booth, CEO and Chief Strategist of QI Research, returns to the show to discuss what rising Treasury yields are signaling about the U.S. economy. She examines the pressure higher borrowing costs are putting on households, corporations, housing, and government finances, while arguing that parts of the economy are weakening beneath headline data. Danielle's Links: https://x.com/DiMartinoBooth https://quillintelligence.com/ https://dimartinobooth.substack.com/ Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 What 5% Treasury yields mean for the economy 2:12 Rising government borrowing costs 4:14 How higher yields are hitting corporate America 7:07 What is really driving bond yields higher? 8:03 Consumers are running out of room 10:12 Why the Fed may be fighting the wrong inflation 12:01 Are higher yields becoming a long-term structural trend? 13:28 Was the Fed’s rate hike about policy or independence? 16:34 Why the Fed’s balance sheet is still growing 17:41 Consumer sentiment and recession risk 20:14 How AI investment has supported U.S. growth 22:16 Why housing could face further downside 24:30 How far home prices may need to fall 27:19 Property taxes and the housing unwind 29:14 What the unemployment data may be missing 30:28 Why jobs data keeps getting revised 33:08 How younger investors can navigate this environment 35:40 Danielle’s outlook for gold Copyright © 2026 Cambridge House International Inc. All rights reserved.

Michael Diegelmann, CEO and co-founder of Warren Wise, joins Darrell to discuss how artificial intelligence is changing investment research and financial decision-making. He explains how AI can analyze company filings, identify risks, compare businesses using consistent scoring frameworks, and dramatically reduce the time required for due diligence. Michael also walks through Warren Wise’s approach using principles associated with Benjamin Graham, Warren Buffett, and Charlie Munger, while emphasizing that human judgment still remains essential when making investment decisions. Check out Warren Wise here: https://warren-wise.com/en/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 How AI is changing investment research 1:41 What “agentic finance” means 3:40 How AI scoring systems work 5:33 Using Graham, Buffett and Munger principles 8:24 What AI means for financial advisors 10:14 Why machines will increasingly read company filings 12:28 The limitations of AI in investing 14:57 Company analysis versus macro investing 16:13 Warren Wise demo: analyzing Rio Tinto 18:30 How AI evaluates management and governance 20:44 Identifying risks and inconsistencies in company reporting 23:51 Turning financial disclosures into investor questions 26:31 How AI can flag potential regulatory concerns 27:51 Making corporate reports more machine-readable 28:34 Comparing Rio Tinto and BHP 29:39 Can AI analyze smaller mining companies? 31:02 Do valuations still matter? 34:23 Can AI help the average investor? 35:27 Where to learn more about Warren Wise Copyright © 2026 Cambridge House International Inc. All rights reserved.

Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners and editor of The Boock Report, joins Darrell to discuss why he believes oil prices could climb further as inventories decline and supply disruptions persist. He examines the implications of rising bond yields, the Fed’s latest rate hike, and the growing demand for commodities driven by AI infrastructure. Peter also shares his outlook for gold, silver, copper, and energy stocks, while highlighting the risks beneath the stock market’s AI-driven gains and opportunities he sees in international equities. Peter's links: https://x.com/pboockvar https://peterboockvar.substack.com/ https://www.onepointbfg.com/ Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why oil could reach $200 a barrel 1:02 The Fed’s latest rate hike and rising bond yields 3:34 Why central banks may be losing control of interest rates 5:18 Are we entering a long-term cycle of higher rates? 6:34 The commodity bull market and global supply disruptions 9:07 AI data centers and the demand for raw materials 11:54 Why Peter remains bullish on oil 13:42 The case for $200 oil 15:12 Can new infrastructure bypass the Strait of Hormuz? 16:32 Peter’s outlook for gold and silver 18:52 Mining stocks and their growing cash flows 20:18 Why Peter is cautious on copper 22:19 What the S&P 500 is hiding about the economy 24:03 Housing affordability and the need for lower prices 26:24 Opportunities outside the U.S. stock market Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dr. Joanne Hsu, director and chief economist of the University of Michigan Surveys of Consumers, joins Darrell to examine why Americans remain dissatisfied with the economy despite resilient consumer spending. She discusses how persistent high prices are eroding purchasing power, why wealthy households experience the economy differently, and how gasoline prices, tariffs, interest rates, and housing affordability shape consumer sentiment. Hsu also explains what it would take for confidence to recover and why the survey matters to the Federal Reserve and investors. Check out Dr. Hsu's work: https://www.sca.isr.umich.edu/ https://public.websites.umich.edu/~jwhsu/ Register today for the Above & Beyond Summit: https://abovebeyondsummit.com/index.html Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why consumer sentiment matters 1:02 What the University of Michigan survey measures 3:25 Who uses the survey data? 4:24 What consumer sentiment reveals about recession risks 5:57 Why economic recovery takes time to reach households 7:37 Americans are struggling with high prices 8:41 What would restore consumer confidence? 9:51 The growing divide between wealthy and lower-income households 11:39 How asset ownership shapes economic experiences 12:50 Why spending remains strong despite weak sentiment 14:06 How gasoline prices affect inflation expectations 16:10 What the survey reveals about tariffs 17:48 Consumer expectations following the Fed’s rate hike 19:47 Why housing affordability remains under pressure 21:51 Why Dr. Hsu studies household financial well-being 23:21 Where to find the latest consumer sentiment data Copyright © 2026 Cambridge House International Inc. All rights reserved.

Tavi Costa warns that rising Treasury yields, expensive stock valuations, and persistent inflation are creating a difficult situation for policymakers. He explains why attempts to suppress yields could benefit hard assets, why he sees the AI investment boom driving long-term demand for metals, and why mining stocks may offer a more attractive way to invest in that trend than technology companies. Costa also shares his outlook for oil, copper, gold, and silver. Tavi's links: https://x.com/TaviCosta https://tavicosta.substack.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 The Fed’s dilemma: inflation versus rising yields 1:57 Why higher Treasury yields threaten expensive stocks 6:16 Energy, agriculture, and persistent inflation 8:26 Why policymakers may struggle to fight inflation 11:35 Could yield curve control be the next step? 14:53 The growing divide between corporate earnings and employment 17:28 Why the AI revolution needs metals 21:52 Mining stocks versus technology valuations 23:23 What happens to miners if the AI bubble bursts? 30:17 Tavi’s outlook for oil and copper 32:27 Tungsten and the importance of project economics 35:11 Why silver miners have his attention 37:48 Why Tavi is buying gold miners instead of gold Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dr. Marc Faber of the Gloom, Boom & Doom Report argues that the world remains in a long-term commodity and interest-rate upcycle, driven in part by persistent money printing, war, and declining purchasing power. He explains why gold should continue to play a role in preserving wealth, why platinum and silver may still be relatively attractive, and why continued monetary intervention could eventually undermine bonds, currencies, and the effectiveness of central bank bailouts. Marc's Links: https://x.com/gloomboomdoom https://www.gloomboomdoom.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Money printing and the decline in purchasing power 2:54 Why commodities may be in a long-term upcycle 4:51 Why Faber expects interest rates to keep rising 6:35 What money printing is really doing to markets 8:43 When monetary intervention stops working 11:58 Measuring wealth in gold terms 13:11 Marc Faber’s reaction to gold’s surge 15:07 Why gold can keep rising against paper currencies 16:36 Central banks, gold, and declining trust in the U.S. 18:17 Is the U.S. becoming more state-controlled? 20:50 Stablecoins, surveillance, and the future of cash 23:46 Why Faber thinks cash will survive 25:41 Could gold and silver become money again? 28:23 Why Faber still likes platinum 30:40 Commodity shortages and future supply 33:34 When money printing becomes counterproductive 36:33 Why central banks may be trapped 39:02 The Gloom, Boom & Doom Report 41:12 Faber’s recommended economists and reading Copyright © 2026 Cambridge House International Inc. All rights reserved.

Peter Schiff of Euro Pacific Asset Management argues that rising debt, persistent inflation, and growing demand for capital are setting up a powerful long-term bull market in commodities. He explains why he expects interest rates to remain under pressure, why a future U.S. debt and dollar crisis could be far more damaging than 2008, and why gold, silver, mining stocks, and royalty companies may offer some of the strongest opportunities as investors move toward hard assets. Peter's links: https://x.com/PeterSchiff https://europac.com/ https://www.schiffgold.com/ https://www.schiffgold.com/services/start-trading Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Fed policy versus Treasury intervention 1:58 Why Schiff doubts Kevin Warsh’s hawkish stance 3:03 Why Treasury buyers are demanding higher yields 5:15 Inflation, energy prices, and the midterms 6:53 Why Schiff thinks the Iran war was a major mistake 13:02 Corruption and declining trust in government 15:19 Sanctions, trade threats, and the dollar 17:59 How tariffs raise costs for Americans 21:13 Why commodities could be entering a major bull market 24:04 AI, energy demand, and the need for more raw materials 25:08 Why higher rates could trigger a debt crisis 26:08 What a U.S. debt and dollar crisis could look like 27:03 Why housing could be hit harder than in 2008 29:06 Why QE may not work in the next crisis 30:01 Schiff’s outlook for the U.S. dollar 30:44 How high could gold go? 33:29 Why Schiff expects miners to outperform 36:19 Where he sees the best opportunities in mining stocks 37:58 Royalty and streaming companies 39:38 Schiff’s outlook for silver 41:44 Platinum, palladium, and the broader metals market Copyright © 2026 Cambridge House International Inc. All rights reserved.

Gareth Soloway of Verified Investing shares his technical outlook across oil, bonds, gold, silver, and copper while warning that extremely low volatility in the markets may be masking growing risks beneath the surface. He explains why he expects the U.S. economy to slow, why gold could ultimately reach much higher levels over the coming years, and what key chart levels he is watching across precious metals, oil, and copper. Gareth's links: https://x.com/GarethSoloway https://verifiedinvesting.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why low volatility is making Gareth cautious 2:50 What the VIX is signaling now 4:17 Could volatility stay suppressed through the midterms? 5:23 Gareth’s current oil trade 7:17 Why oil may struggle to reach $150 8:35 The economic slowdown Gareth sees ahead 11:33 What the 10-year Treasury chart is signaling 12:25 Treasury intervention and the Fed 14:31 Gareth’s outlook for gold 15:25 Key support and resistance levels for gold 18:41 Why gold’s long-term trend remains intact 19:45 Silver’s next major breakout level 21:24 How Gareth is positioned in silver 22:18 Why he is preparing to short copper 23:25 Why structural deficits don’t always drive price Copyright © 2026 Cambridge House International Inc. All rights reserved.

Willem Middelkoop, author of The Big Reset and founder of the Commodity Discovery Fund, argues that the monetary reset he has warned about for years is now beginning to take shape. He explains why central banks are moving toward gold, why general investors may be starting to rotate out of bonds and into hard assets, and why he believes gold mining stocks are only now breaking out of a 13-year bottoming pattern. Middelkoop also discusses looming supply shortages in copper, silver, and uranium. Willem's links: https://x.com/wmiddelkoop https://wmiddelkoop.substack.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the monetary reset finally beginning? 1:10 Why gold is returning to the financial system 3:02 Central banks are moving toward physical gold 5:11 What central bankers really think about gold 8:30 Why European countries are bringing gold home 10:43 Is the U.S. losing control of the gold market? 15:00 Rising Treasury yields and weakening demand for U.S. debt 17:33 Why traditional investors are starting to rethink bonds 20:14 Are gold miners only beginning their bull market? 22:13 Copper breaks out as supply tightens 23:50 The coming shortages in metals 25:49 Why copper may be the biggest supply problem 27:07 Uranium and silver face similar constraints 29:00 Willem’s outlook for gold, silver, copper, and uranium 29:46 What is really happening in the Strait of Hormuz? 33:32 Why oil has remained below $100 35:18 Sanctions, Iran, and the shifting global order 37:29 What the monetary reset could mean for the West Copyright © 2026 Cambridge House International Inc. All rights reserved.

Clem Chambers argues that investors may be witnessing a new form of market intervention: a “Trump put” driven increasingly through the U.S. Treasury rather than the Federal Reserve. He explains why he expects more liquidity, lower interest rates, a weaker dollar, and an inflationary push to rebuild American industry and fund the AI boom. Chambers also discusses what that environment could mean for stocks, gold, precious metals, and the broader U.S. economy. Clem's links: https://x.com/ClemChambers https://anewfn.com/ https://www.youtube.com/@ClemChambersAlpha https://seekingalpha.com/ https://www.forbes.com/sites/investor/people/clem/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the Fed put becoming the Trump put? 1:50 Why Clem thinks the Treasury is intervening 5:04 The evidence behind the “Trump put” 6:05 Why reshoring requires enormous amounts of capital 8:02 AI adds another massive demand for money 10:44 Why the dollar could weaken significantly 14:39 Lower rates, more liquidity, and higher inflation 15:08 Why hard assets could benefit 18:14 Is the Fed already quietly loosening? 19:22 Why the financial system needs more liquidity 24:09 Can the Trump put prevent a market crash? 25:27 Why America is rebuilding its industrial base 27:10 The technology race with China 30:34 Why reshoring will be inflationary 31:04 Foreign selling of U.S. Treasuries 36:19 Is the $40 trillion debt really as dangerous as it sounds? 40:20 Why Chambers remains optimistic on markets Copyright © 2026 Cambridge House International Inc. All rights reserved.

Josh Young of Bison Insights argues that years of underinvestment have left the oil market increasingly vulnerable to future shortages. He explains why current prices are still too low to encourage enough new production, why reserve replacement remains dangerously weak, and how geopolitical disruptions are adding further pressure to global energy markets. Young also discusses the Strait of Hormuz, refining shortages, Venezuela, and why he believes the longer-term setup for oil remains strongly bullish. Josh's Links: https://x.com/JoshYoung https://www.bisoninsights.info/ https://bisoninterests.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why oil could be entering a structural bull market 0:44 Josh Young’s approach to oil and gas investing 4:00 Where oil prices could head from here 5:04 Why years of underinvestment matter 7:37 The 10% reserve replacement problem 10:00 How low can the Strategic Petroleum Reserve go? 13:01 Why oil market intervention may be losing effectiveness 18:58 Why diesel margins have exploded 20:14 Russia, China, and the global refining shortage 26:00 Can the Strait of Hormuz really become irrelevant? 29:58 Can Venezuelan oil solve the supply problem? 36:10 How much oil could Venezuela actually produce? Copyright © 2026 Cambridge House International Inc. All rights reserved.

John Feneck of Feneck Consulting explains why silver remains one of his largest holdings and where he sees the best opportunities across the sector. He also discusses potential M&A in the silver sector, why mining equities may finally be gaining leverage to higher metals prices, and the growing investment case for tungsten as the U.S. looks to secure critical mineral supply. John's links: https://x.com/FeneckConsult https://www.feneckconsulting.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why John Feneck remains bullish on silver 2:37 Physical silver versus mining stocks 4:03 Why silver developers look attractive 6:59 M&A opportunities across the silver sector 7:36 Is the Fed really as hawkish as investors think? 11:59 Where gold and silver could head next 13:49 Why mining stocks may finally outperform 16:14 Big money starts paying attention to gold 17:56 The critical minerals trade 18:51 Why John prefers tungsten over rare earths 20:05 Guardian Metal and Western Star Resources 22:16 Why the U.S. needs domestic tungsten supply 25:06 The defense industry’s tungsten problem Copyright © 2026 Cambridge House International Inc. All rights reserved.

Doug Casey of International Man argues that the United States is entering a period of economic, political, and geopolitical decline that could culminate in what he calls a “Greater Depression.” Casey also discusses how he is positioning and why the miners may be better than gold in this leg. Doug's links: https://www.youtube.com/@DougCaseysTake https://internationalman.com/ https://x.com/RealDougCasey Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the American empire in decline? 2:13 Why Doug Casey thinks the Iran conflict will continue 3:56 Is Hormuz America’s Suez moment? 9:03 What declining U.S. power means for the global order 13:27 Why institutions like the UN are breaking down 15:46 Doug Casey’s “Greater Depression” thesis 17:16 Why more Fed intervention could make things worse 20:49 Political polarization and the risk of civil unrest 26:00 Why Casey thinks a genuine civil war is possible 27:30 Socialism, fascism, and capitalism defined 31:05 Why political solutions won’t fix the problem 34:06 How individuals should prepare 37:16 Gold, mining stocks, and protecting wealth 40:59 Could governments confiscate gold again? 43:12 Diversifying outside the United States 48:28 Foreign currencies versus precious metals Copyright © 2026 Cambridge House International Inc. All rights reserved.

Peter Spina of GoldSeek and SilverSeek argues that rising Treasury yields, persistent inflation, and growing distrust of U.S. debt are strengthening the long-term case for gold and silver. He explains why efforts to control the bond market may only buy policymakers time, why central banks continue shifting toward gold, and why he expects the current precious metals cycle to last for years rather than end with a short-lived spike. Spina also discusses silver’s upside, historically strong mining margins, and why he sees opportunity across producers, developers, and junior exploration companies. Peter's links: https://x.com/goldseek https://goldseek.com/ https://silverseek.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Kevin Warsh, Jackson Hole, and the Fed narrative 3:31 Treasury intervention and “Operation Twist 2.0” 5:57 Can policymakers really control bond yields? 7:03 Why foreign buyers are shifting from Treasuries to gold 10:05 Will the U.S. inflate away its debt? 12:53 Money supply, gold, and the recent correction 17:46 Why central banks bought the dip 18:13 Silver’s path back toward $100 20:01 Why gold and silver miners are finally outperforming 23:32 Historic profit margins in the mining sector 27:27 Why exploration companies could become M&A targets 28:01 The opportunity in developers 30:52 How long could this precious metals cycle last? 33:35 How close are we to a debt crisis? Copyright © 2026 Cambridge House International Inc. All rights reserved.

Alasdair Macleod of Macleod Finance argues that America’s growing debt burden is becoming increasingly difficult to finance as major foreign holders of U.S. Treasuries face problems of their own. He explains why rising bond yields could become a serious threat to the dollar, why attempts to suppress those yields may ultimately weaken the currency further, and why he believes gold and silver will play a much larger role as confidence in government debt deteriorates. Alasdair's links: https://x.com/MacleodFinance https://www.macleodfinance.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Who finances America’s $40 trillion debt? 1:25 Iran, sanctions, and pressure on the dollar 3:02 Why rising bond yields threaten U.S. finances 5:10 The growing Treasury refinancing problem 7:17 Gold begins moving again 8:05 BRICS and the changing global order 13:36 What a dollar decline means for ordinary people 15:25 Why higher bond yields could hit stocks and housing 20:00 Macleod’s 18-month crisis timeline 22:03 The Fed’s impossible choice 24:07 Why price controls could make things worse 27:05 Are central banks already technically insolvent? 31:27 Japan’s debt problem and Treasury demand 34:30 The carry trade holding up U.S. debt 37:08 Why gold and silver have no counterparty risk 38:46 How high could gold go? 41:15 Where Macleod believes gold should be stored 43:38 Why portfolios remain underexposed to gold Copyright © 2026 Cambridge House International Inc. All rights reserved.

Don Durrett of GoldStockData.com argues that rising government debt, stubborn bond yields, and growing intervention in the Treasury market are creating a “doom loop” that could drive gold and silver substantially higher. He explains why he sees gold potentially reaching $7,000–$8,000, why silver could outperform, and why he prefers producers and near-term developers over earlier-stage explorers during this phase of the bull market. Don's Links: https://www.goldstockdata.com/ https://x.com/DonDurrett https://dondurrett.substack.com/ Don's book, How to Invest in Gold and Silver: https://www.amazon.com/How-Invest-Gold-Silver-investors/dp/1427650241/ref=sr_1_3?ie=UTF8&s=books&qid=1291065729&sr=1-3 Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 The U.S. debt and bond market “doom loop” 2:39 Why Treasury intervention matters for gold 6:17 Gold’s second major leg higher 8:33 Who is still buying U.S. government debt? 10:01 The Fed is already supporting the bond market 12:22 Inflation, energy, and rising interest costs 15:09 Why the Fed’s traditional tools are failing 21:30 Don’s roadmap for $8,000 gold 23:10 When Don plans to sell his miners 26:58 How high could silver go? 30:18 M&A and the outlook for mining stocks 31:04 Why Don prefers producers and developers 37:08 How far from production is too far? 40:07 How Don manages a 171-stock portfolio 42:48 Finding high-leverage mining stocks 46:17 Why mining stocks can still go wrong Copyright © 2026 Cambridge House International Inc. All rights reserved.

Michael Oliver of Momentum Structural Analysis argues that the next major financial crisis may center on government debt rather than banks or private credit. He explains why rising long-term yields and intervention in the Treasury market could signal growing stress in government bonds, why gold and silver are beginning to reassert their long-term trends, and why commodities remain historically cheap relative to the growth in the money supply. Oliver also outlines a major technical breakout he is watching in gold and silver miners that he believes could lead to substantial outperformance versus gold itself. Check out Momentum Structural Analysis: https://www.olivermsa.com/ https://x.com/Oliver_MSA Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the government bond market the next crisis? 1:06 Treasury intervention and the debt problem 4:59 How this crisis differs from 2008 8:28 Why oil and commodities remain historically cheap 15:49 The limits of government intervention in oil 18:35 Gold’s momentum turns higher 23:06 Why this gold rally may be different 24:16 Silver confirms the same bullish setup 27:32 The bond market is becoming the real problem 31:00 Why financial stocks could be vulnerable 32:16 The major breakout developing in gold miners 35:13 Why miners could dramatically outperform gold Copyright © 2026 Cambridge House International Inc. All rights reserved.

Justin Huhn of Uranium Insider argues that the uranium market is moving toward a serious supply problem as utilities contract fuel into the early-to-mid 2030s while many of the mines needed to meet that demand have yet to begin construction. He explains why long-term uranium prices are rising, why the biggest pinch point may ultimately be uranium itself rather than conversion or enrichment, and how new reactor construction in the U.S. and abroad could tighten the market further. Check out Uranium Insider: https://x.com/uraniuminsider https://www.uraniuminsider.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 The uranium supply squeeze 1:02 Why Justin is bullish on the sector 4:49 Uranium demand could double by 2040 6:31 The supply deficit investors should focus on 8:14 Why the early 2030s matter right now 11:35 U.S. plans to massively expand nuclear power 19:19 Europe’s heat waves and nuclear capacity 23:28 Uranium Royalty’s Sweetwater acquisition 28:07 The debt behind the Sweetwater deal 29:17 Why Wyoming matters for uranium 32:01 Conversion, enrichment, and the fuel cycle 36:03 Why uranium may be the real bottleneck 40:32 NexGen Energy begins construction at Arrow 42:09 BHP’s interest in NexGen Copyright © 2026 Cambridge House International Inc. All rights reserved.

Taylor Kenney, host of Taylor Made Economics at ITM Trading, argues that the U.S. is entering the late stages of a historic debt and monetary cycle. She explains why rising bond yields and nearly $40 trillion in debt could force another major round of money printing, why central banks are moving toward physical gold, and how weakening confidence in U.S. Treasuries could accelerate the shift away from the dollar. Follow Taylor: https://x.com/taylorkenneyitm https://www.itmtrading.com/ https://www.youtube.com/@itmtrading Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the U.S. debt cycle reaching a breaking point? 1:03 Why Taylor doubts the Fed’s hawkish narrative 3:27 Changing how inflation is measured 4:38 Rising bond yields and the cost of U.S. debt 6:39 Where we are in the monetary cycle 9:12 Why central banks are moving back into gold 13:03 Can confidence in the dollar be restored? 15:47 BRICS and the move away from the dollar 17:37 Japan’s yen crisis and U.S. Treasury risk 21:15 Why monetary intervention keeps expanding 23:05 The affordability crisis 26:02 Falling trust and growing political instability 28:44 Universal basic income and the digital dollar 32:49 How physical gold fits into a digital system 35:08 Preparing for greater financial instability 36:14 The race to $40 trillion in U.S. debt Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dale Whitaker, accountant and author of The Gold Grift, explains how certain precious metals dealers can use fear, high-pressure sales tactics, exclusive coins, and opaque pricing to extract huge margins from investors—particularly those rolling retirement savings into gold IRAs. Dale's links: https://x.com/dalewhitakerwa https://www.dalewhitaker.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Dale Whitaker’s background in precious metals 4:12 Why he wrote The Gold Grift 4:55 How fear is used to sell precious metals 6:10 The transaction that made him blow the whistle 8:22 Markups versus spreads explained 10:00 How “exclusive” coins create pricing power 12:16 Why gold IRA investors are targeted 14:55 Why common bullion is harder to overcharge 18:31 Collectible coins versus IRA precious metals 23:07 The most shocking scams Dale uncovered 25:45 How much investors may be losing 29:27 How to protect yourself when buying gold or silver 32:36 Red flags that should make you walk away Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dr. Mark Thornton of the Mises Institute argues that the Federal Reserve’s real priority is protecting government financing and the financial system, not simply fighting inflation. He explains why Kevin Warsh may prove less hawkish than expected, why gold reflects declining confidence in fiat money, and why another crisis could force the Fed back toward aggressive easing. Check out the Mises Institute: https://mises.org/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the Fed’s hawkish narrative misleading investors? 2:04 Why Mark Thornton doubts Kevin Warsh will stay hawkish 4:11 The Fed’s real mandate: debt, banks, and Wall Street 7:23 Why rising gold threatens confidence in the system 10:27 The Fed’s confidence game 14:46 Is the gold really in Fort Knox? 20:38 Why younger Americans are losing faith in government 26:41 Why Washington cannot stop spending 30:07 The biggest misconceptions about capitalism 34:15 Taxing the rich versus cutting government spending 39:29 What happens to Social Security? 40:20 Why Americans need better ways to save 45:48 Is there still hope for the system? Copyright © 2026 Cambridge House International Inc. All rights reserved.

Rick Rule, longtime natural resource investor, argues that one of the biggest opportunities in mining may be developing behind the scenes in the copper sector. He explains why major copper producers could need roughly $250 billion just to maintain current production, why that capital shortfall could create a major financing boom for royalty and streaming companies, and why firms such as Wheaton Precious Metals and Franco-Nevada may be among the biggest beneficiaries. Rule also discusses gold, interest rates, M&A targets, how he evaluates junior mining acquisitions, and where he sees opportunity across gold, silver, copper, and uranium royalties. Rick's links: https://x.com/RealRickRule https://www.ruleinvestmentmedia.com/ https://www.rulesymposium.com Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 The $250 billion copper funding problem 1:58 Gold, interest rates, and the next move 4:21 Can the Fed keep suppressing rates? 5:58 Yield curve control and long-term Treasuries 8:07 China and the future of gold trading 10:09 How Rick is positioning in gold equities 14:52 What Rick looks for in M&A targets 19:21 When early-stage discoveries become buyout candidates 22:37 The opportunity and risks in Seabridge Gold 25:15 Which majors face the biggest depletion problem? 26:31 Rick’s view on the Contango–Dolly Varden deal 30:27 Why royalty and streaming deals matter so much 31:10 The coming copper financing boom 35:35 Why most investors are missing this trend 40:08 The outlook for copper royalty companies 41:05 Uranium Royalty and the Sweetwater acquisition 43:18 Red flags to watch in royalty M&A 45:29 Where to follow Rick Rule Copyright © 2026 Cambridge House International Inc. All rights reserved.

Dave Collum, professor at Cornell University, argues that today’s market is not facing a single speculative excess but multiple bubbles stacked on top of one another. He explains why he believes the AI boom could unravel quickly, why platinum remains one of his preferred commodity trades, and why gold continues to play a major role in his portfolio. Collum also discusses the possibility of a more hawkish Federal Reserve, the relationship between interest rates and housing affordability, and why decades of cheap money could ultimately end in a painful economic reset. Follow Dave on X: https://x.com/DavidBCollum Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Multiple bubbles are stacking up 2:43 Why the AI boom could break quickly 7:13 Could AI starve the rest of the economy of capital? 11:31 Why Dave is bullish on platinum 15:03 Gold, silver, and Dave’s portfolio strategy 16:30 Why he started buying gold in the 1990s 23:25 How high could gold ultimately go? 25:10 Why Kevin Warsh could be “Volcker 2.0” 29:53 Higher rates, housing, and the next generation 33:22 Why homebuilders may already see trouble coming 37:57 How credit booms end in deflationary busts 43:14 Could AI IPOs mark the market peak? 45:27 Politics, Iran, and America’s changing global position 51:11 How Dave thinks investors should prepare 54:50 Dave’s next annual outlook Copyright © 2026 Cambridge House International Inc. All rights reserved.

Christopher Whalen of Whalen Global Advisors, LLC and publisher of The Institutional Risk Analyst argues that investors may be overlooking one of gold’s most important signals: credit default swaps on U.S. government debt. He explains why rising concern over America’s creditworthiness can strengthen the case for gold, why long-term interest rates may remain elevated even if short-term rates fall, and why inflation is likely to remain a persistent problem. Whalen also discusses the dollar’s changing role in global reserves, the risk of inflating away U.S. debt, and why he expects a significant reset in housing and parts of the stock market. Follow Christopher: https://x.com/rcwhalen https://www.theinstitutionalriskanalyst.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 The overlooked indicator driving gold 1:02 Why the Fed may keep rates unchanged 3:22 Short-term rates down, long-term rates higher 5:37 Why mortgage rates could stay elevated 8:38 Whalen’s outlook for gold and silver 11:03 What credit default swaps reveal about U.S. debt 14:14 Why U.S. credit risk can lead gold 16:06 How the dollar’s global role is changing 18:21 Why countries still need U.S. Treasuries 20:30 Diversifying into foreign currencies 23:13 Will America inflate away its debt? 26:05 Why the fiscal problem keeps getting pushed forward 27:31 A potential housing reset in 2028 30:04 Tech valuations and the AI bubble Copyright © 2026 Cambridge House International Inc. All rights reserved.

Chris Vermeulen, technical analyst and founder of The Technical Traders, argues that the broader stock market remains firmly bullish even as money rotates out of Big Tech and into other areas of the market. He sees the S&P 500 and Nasdaq setting up for another major leg higher, potentially ending in a euphoric blow-off phase. At the same time, he remains cautious on gold, silver, miners, and long-term bonds, arguing that recent rallies are still countertrend moves until the charts confirm a broader reversal. The Technical Traders: https://x.com/TheTechTraders https://thetechnicaltraders.com/ https://www.youtube.com/@TheTechnicalTraders Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is the gold rally a trap? 0:59 Money rotates out of Big Tech 3:14 What the broader stock market is signaling 5:20 Why stocks may have another major leg higher 7:16 Chris Vermeulen’s ETF trading strategy 12:16 Why gold is still technically in a downtrend 16:18 What would confirm a new metals bull move? 18:16 Managing positions during sharp rallies 23:23 Silver’s bounce and key resistance 26:13 Bitcoin and the danger of bear-market rallies 26:38 Why copper is bucking the trend 28:48 Rising yields and financial stress 31:35 What would make TLT attractive again? 33:17 The Technical Traders Copyright © 2026 Cambridge House International Inc. All rights reserved.

Patrick Karim of North Star Bad Charts argues that investors should ignore the headlines and let price action determine the trade. He explains why gold and silver are bouncing but have not yet confirmed the larger breakouts many investors are waiting for, while copper remains in a cleaner long-term uptrend. Patrick also breaks down the key moving averages, resistance levels, and chart structures he is watching across equities, oil, bonds, and precious metals—and why patience matters more than trying to predict the next move. Follow Patrick on X: https://x.com/badcharts1 Check out Northstar & Badcharts: https://northstarbadcharts.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why Patrick ignores the headlines 3:52 The indicators he uses to read markets 9:34 How he confirms a breakout 13:24 Gold is bouncing—but hasn’t broken out yet 18:42 Why gold may need more time to build a base 24:56 Silver’s next key resistance levels 27:43 Copper’s stronger long-term setup 30:38 The oil breakout level that matters 35:11 What bond yields are signaling 38:36 Why Patrick remains cautious on bonds 41:05 Gold, silver, copper, and bonds recap 42:29 Where to follow Patrick Karim Copyright © 2026 Cambridge House International Inc. All rights reserved.

Brien Lundin argues that gold’s recent pullback is a normal correction within a broader bull market, driven by temporary fears around Fed tightening, oil-driven inflation, and weak summer seasonality. He explains why rising long-term yields reflect growing concern over debt and currency depreciation, why central bank buying continues to support gold, and why an eventual equity correction could create another major buying opportunity. Lundin also outlines his outlook for silver, and mining stocks. Follow Brien: https://x.com/Brien_Lundin https://neworleansconference.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Why has gold stalled near $4,000? 1:22 Gold’s correction and the next buying window 4:05 What past gold bull markets can teach investors 5:47 Why the Fed may be forced back into easing 10:07 Rising yields, debt, and currency depreciation 13:41 Could the AI stock bubble trigger a market correction? 18:19 Central banks continue buying the dip 21:10 Where gold could finish this cycle 25:38 Why silver may outperform gold 28:17 Silver’s volatility and physical market bottlenecks 32:18 The outlook for gold and silver miners 36:12 What major mining earnings reveal 38:08 The New Orleans Investment Conference Copyright © 2026 Cambridge House International Inc. All rights reserved.

Mike McGlone of Bloomberg Intelligence argues that markets are approaching a major turning point as elevated bond yields, stretched equity valuations, and persistent inflation place growing pressure on risk assets. He explains why the Federal Reserve is effectively trapped, why gold, commodities, and crypto may have already sent warning signals, and why a stock market decline could trigger a broader deflationary reset. McGlone also outlines his bullish case for long-term Treasuries, which he believes could become one of the strongest opportunities of the current market cycle. Follow Mike on X: https://x.com/mikemcglone11 Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Are markets approaching a major turning point? 0:45 The Fed holds rates steady 1:21 Why the Fed is trapped 3:03 Rising volatility and weakening risk assets 5:16 Why 5% bond yields threaten every market 7:59 Copper, China, and global deflation 11:41 Gold’s rally may have run its course 14:23 What happens when stocks begin falling? 17:20 Why oil could fall below $70 20:25 The bullish case for Treasuries 22:29 A potential trade of a lifetime 25:10 Will the Fed rescue the stock market? 26:13 Why deflation may replace the inflation trade 28:56 Where to follow Mike McGlone Copyright © 2026 Cambridge House International Inc. All rights reserved.

Andy Schectman argues that rising bond yields, persistent inflation, and declining confidence in U.S. debt are creating a powerful long-term case for precious metals. He explains why central banks and major buyers continue accumulating physical gold despite recent price weakness, how China is building the vaults, exchanges, and payment systems needed to challenge Western paper markets, and why the shift toward physical settlement could reshape global price discovery. Andy also compares the outlook for gold, silver, and platinum, with gold remaining his preferred asset for a changing monetary system. Check out Andy's work: https://x.com/MilesFranklinCo https://milesfranklin.com/ https://www.youtube.com/@MilesFranklinMedia Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 0:00 Is gold preparing for another major move? 1:49 Interest rates, bond yields, and America’s debt trap 8:38 The real inflation rate and gold’s performance 11:30 Central banks and major buyers accumulate physical gold 13:32 Stablecoins, Treasuries, and the future of interest rates 18:10 When will gold respond to money creation? 20:18 Who is taking delivery from COMEX? 23:38 Could higher gold prices weaken the dollar? 24:00 The Global South builds a new gold settlement system 28:15 Hong Kong’s vault expansion and China’s long strategy 32:33 How much gold is China really buying? 36:01 Falling mine supply and rising physical demand 40:01 Gold revaluation and the July 4 prediction 45:04 Paper markets versus physical price discovery 49:15 Gold, silver, or platinum? 53:15 Where to follow Andy Schectman Copyright © 2026 Cambridge House International Inc. All rights reserved.

Pascal Lottaz argues that the war with Iran has exposed the limits of American military power and left Washington without a clear path to victory. He explains how Iran has used the Strait of Hormuz, decentralized military command, and lower-cost weapons to withstand U.S. pressure, while America faces shrinking petroleum reserves and shortages of key munitions. The discussion also examines Israel’s role, the failed memorandum of understanding, China’s strategic advantage, and the risk that the conflict settles into another prolonged American war. Follow Pascal: https://x.com/PLottaz https://www.youtube.com/@neutralitystudies https://pascallottaz.substack.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00:00 America’s changing military power 00:00:56 Israel’s role in the war with Iran 00:04:22 The Strait of Hormuz and America’s oil vulnerability 00:07:32 Strategic petroleum reserves and inflation risks 00:15:30 America’s unclear endgame in Iran 00:16:37 Why regime change failed 00:26:24 How Iran gained leverage over the United States 00:30:29 Why the memorandum of understanding collapsed 00:38:11 Iran’s strategy for a prolonged war 00:44:14 How Iran built a military designed to survive 00:49:46 U.S. weapons shortages and industrial limits 00:51:18 How the conflict benefits China 00:58:32 Could this become another forever war? 01:03:04 Where to follow Pascal Lottaz Copyright © 2026 Cambridge House International Inc. All rights reserved.

Doomberg argues that the oil market is pricing in limits on how far the United States can escalate its conflict with Iran, despite warnings of a major supply shock. The conversation covers depleted missile defenses, Iran’s growing leverage over the Strait of Hormuz, the shift toward a multipolar world, China’s role in gold price discovery, rising natural gas demand, uranium’s supply setup, and the financial risks behind Strategy’s Bitcoin accumulation model. Follow Doomberg: https://newsletter.doomberg.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00:00 The decline of American military dominance 00:00:47 Introduction 00:01:08 Why Doomberg sees a strategic defeat in Iran 00:05:04 What the oil market is pricing in 00:05:58 America’s missile shortage 00:08:38 Why oil has not reached $150 00:09:17 China’s role in balancing global oil demand 00:10:18 Why Doomberg trusts the oil market 00:11:42 Could oil prices move lower? 00:13:55 Iran, Russia, China, and a multipolar world 00:15:27 Could the war last for decades? 00:17:15 China’s crackdown on paper gold trading 00:19:44 Paper gold versus physical gold 00:21:00 The natural gas supply and demand debate 00:24:14 China’s nuclear expansion and uranium demand 00:25:19 Doomberg’s approach to commodity investing 00:26:30 Bitcoin as a debasement indicator 00:27:50 The risks behind Strategy’s Bitcoin model 00:31:23 Financial engineering and shareholder dilution Copyright © 2026 Cambridge House International Inc. All rights reserved.

Host of the Jay Martin Show and the VRIC, Jay Martin is on with Darrell to dive deep into China’s crackdown on paper gold trading. He connects China’s strategy, the Shanghai Gold Exchange, record central bank buying, and declining demand for U.S. Treasuries to a broader loss of confidence in the dollar system. Jay also outlines why he believes tangible assets, particularly gold and critical raw materials, will play a larger role as governments rebuild domestic supply chains and prepare for a more fragmented global economy. Jay's Links: https://cambridgehouse.com https://x.com/JayMartinBC https://www.instagram.com/jaymartinbc https://www.facebook.com/TheJayMartinShow https://www.linkedin.com/company/cambridge-house-international Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today: https://join.thecommodityuniversity.com/?affiliate=darrellthomas Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00:00 Introduction 00:00:31 China’s crackdown on paper gold 00:02:14 How paper claims can suppress gold prices 00:03:23 Physical gold and paper gold begin to separate 00:05:17 Why gold price discovery matters 00:06:16 Inflation, affordability, and dollar purchasing power 00:08:16 Measuring houses, cars, and groceries in gold 00:09:43 The Nixon gold shock and today’s parallels 00:13:20 What paper gold actually represents 00:16:25 How investors will know if gold is suppressed 00:17:57 Central banks accelerate physical gold buying 00:20:38 What gold buying reveals about global trust 00:21:32 The decline of reserve currency systems 00:23:17 Gold overtakes Treasuries in central bank reserves 00:24:30 The Shanghai Gold Exchange and Hong Kong vault expansion 00:27:22 What could change Jay’s outlook 00:28:26 The U.S. Treasury market as America’s credit card 00:31:08 The Jay Martin Show and Commodity University 00:33:40 Why capital is moving toward raw materials 00:35:20 Closing remarks Copyright © 2026 Cambridge House International Inc. All rights reserved.

Colonel Douglas Macgregor returns to assess the escalating conflict with Iran, the risk of a wider regional war, and the economic consequences of prolonged instability in the Middle East. He explains why he believes rising oil prices, strained missile supplies, mounting debt, and growing involvement from Russia and China could place the United States under severe pressure. The discussion also covers the upcoming U.S. midterm elections, and why Canada and the United States need greater control over critical minerals, refining capacity, and energy infrastructure. Follow Col. Douglas Macgregor: https://x.com/DougAMacgregor https://macgregorwarrior.substack.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00:00 Introduction 00:00:38 Why the Iran conflict resumed 00:02:30 Investor confidence and Middle East instability 00:03:58 Oil prices and the risk of a global downturn 00:04:53 Has the United States actually won the war? 00:07:29 The changing objectives in Iran 00:12:51 America’s financial and military constraints 00:13:46 China and Russia’s strategic interest in Iran 00:15:43 Iran’s nuclear program and the abandoned agreement 00:21:26 Could the conflict turn nuclear? 00:24:58 Why the United States should leave regional wars 00:26:24 How close are we to World War Three? 00:29:01 The midterms and the future of U.S. politics 00:32:12 Rising costs and public anger in America 00:33:38 Where to follow Douglas Macgregor 00:34:16 Critical minerals and resource sovereignty Copyright © 2026 Cambridge House International Inc. All rights reserved.

Renowned investor Todd “Bubba” Horwitz joins Darrell to explain why he believes the stock market could fall 40% to 60% as debt stress, weak economic data, high valuations, and falling liquidity collide. He also shares his outlook for oil, gold, silver, platinum, Bitcoin, the U.S. dollar, and outlines the importance of separating long-term investing from short-term trading. Follow Bubba: https://x.com/Bubba_Trading https://go.bubbatrading.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 Introduction 00:47 Hedging a long-term portfolio 02:14 Why stocks could fall 40% to 60% 03:59 AI valuations and weak market liquidity 05:19 Which sectors could fall first? 06:51 Why money is moving into the Dow 08:02 Why oil could fall into the $50s 10:25 Could the Iran conflict trigger an economic crisis? 12:09 Gold and silver buying levels 14:26 Why gold is under pressure 16:11 Can investors trust major bank forecasts? 17:09 Long-term gold and silver outlook 19:15 The U.S. dollar and foreign currencies 22:30 Bitcoin and the wider crypto market 24:48 Grains and agricultural stocks 26:21 Platinum’s long-term potential 28:20 Options trading and synthetic positions Copyright © 2026 Cambridge House International Inc. All rights reserved.

Christopher Aaron of iGold Advisor joins Darrell to explain why gold, silver, and junior mining stocks may be approaching an important bottom. Using long-term price charts, he outlines the support levels forming near $4,000 gold and $50 silver, the technical signals pointing to a potential rally into early 2027, and the conditions that could later trigger a deeper correction. He also examines the Canadian Venture Index, where he sees the possibility of a major breakout after more than a decade of consolidation, and shares the price levels that could signal a future opportunity to take profits. Follow Christopher: https://x.com/iGlobalGold https://igoldadvisor.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Follow the VRIC on Instagram: https://www.instagram.com/vric_media/ Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx Chapters 00:00 – Introduction 00:50 – Is gold forming a bottom near $4,000? 05:58 – The technical evidence supporting a gold rally 08:16 – How resistance becomes support 11:35 – Gold’s falling wedge pattern 14:29 – Why price matters more than the narrative 18:45 – Silver’s 50-year breakout 22:30 – Where silver could move next 23:52 – Federal Reserve policy and inflation 28:32 – Why market expectations drive inflation 31:02 – The downside risk for silver 35:13 – Gold’s potential downside scenario 35:37 – The Canadian Venture Index setup 37:20 – Lessons from the 2008 mining crash 39:28 – A possible breakout in junior mining stocks 42:10 – Potential selling targets for miners Copyright © 2026 Cambridge House International Inc. All rights reserved.

Matthew Piepenburg joins Darrell to explain why gold’s recent volatility has not changed the long-term thesis. He argues that rising debt, expanding liquidity, currency debasement and weakening trust in U.S. Treasuries continue to drive central banks toward physical gold. Matthew also discusses hidden liquidity inside the banking system, China’s growing influence over gold pricing, the debate around gold-backed U.S. debt, misleading inflation data and why investors may need to think of gold as monetary protection rather than a short-term trade. Check out Matthew's work: https://vongreyerz.gold/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 Introduction 01:07 What Precious Metals Investors Are Asking 04:01 Staying Calm During Gold Volatility 06:02 Why Gold Bull Markets Have Major Corrections 07:16 Debt, Currency Debasement and the Gold Thesis 09:04 Money Supply and Hidden Federal Reserve Liquidity 14:17 Why Central Banks Are Accumulating Gold 18:07 China’s Growing Influence Over Gold Pricing 21:00 Could U.S. Treasuries Be Backed by Gold? 25:27 Measuring the Real Rate of Inflation 29:53 Protecting Purchasing Power as the Dollar Weakens 32:27 Politics, Incentives and Institutional Trust 34:19 Becoming Your Own Central Bank Copyright © 2026 Cambridge House International Inc. All rights reserved.

Danielle DiMartino Booth joins Darrell to examine the growing cracks beneath the U.S. economy. She discusses Kevin Warsh’s early approach at the Federal Reserve, unreliable employment data, declining labor-force participation, rising bankruptcies and the pressure facing heavily indebted consumers. Danielle also explains why corporate layoffs could accelerate, how high borrowing costs are freezing the housing market, why gold may be approaching an attractive entry point and whether the AI investment boom can continue. Follow Danielle: https://x.com/DiMartinoBooth https://dimartinobooth.substack.com/ https://quillintelligence.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 Introduction 00:35 Kevin Warsh’s approach to the Federal Reserve 03:18 The outlook for interest rates 05:22 Problems with U.S. employment data 07:00 Young Americans delaying household formation 08:16 Bankruptcies surge across the economy 09:13 Record car payments and consumer stress 10:22 Credit cards, auto loans and falling savings 11:57 Is the U.S. already in a recession? 12:50 Corporate hiring freezes and tech layoffs 14:29 Inflation data and real-time price measures 15:37 Why officials have not declared a recession 17:29 Gold’s consolidation and potential entry point 18:55 Rising bond yields and government borrowing 19:55 Mortgage rejections and falling home prices 20:48 Inventory restocking and the credit cycle 22:58 Imports, inventories and weak GDP growth 24:10 Is the AI capital-spending boom sustainable? Copyright © 2026 Cambridge House International Inc. All rights reserved.

Jeff Clark explains why he sees the recent pullback in gold, silver, and mining stocks as a buying opportunity rather than the end of the bull market. He outlines where he is finding value across explorers, resource builders, and pre-production companies, then highlights several junior mining stocks in gold, silver, uranium, and copper. Jeff also breaks down the risks behind each pick, how he sizes positions, when he takes profits, and the red flags that can disqualify a mining investment. Follow Jeff: https://x.com/TheGoldAdvisor https://thegoldadvisor.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 Introduction 00:32 Why Jeff welcomes major market corrections 01:50 Why silver could outperform gold 04:51 Managing silver’s extreme volatility 07:31 Jeff’s four preferred stages of mining investment 09:59 Resources versus reserves 11:44 A2 Gold and Nevada exploration potential 13:05 Pacifica Silver’s Claudia project 13:59 Stallion Uranium in the Athabasca Basin 14:47 Sun Peak Metals in Saudi Arabia 15:38 Getty Copper and Highland Valley 16:50 The major risks behind each company 19:10 Position sizing and portfolio diversification 21:21 When to take profits in junior miners 23:29 Red flags in mining management teams 25:54 The most important question before investing 26:37 Evaluating geology and drill results 27:59 Why site visits matter Copyright © 2026 Cambridge House International Inc. All rights reserved.

Professor Steve Hanke joins Darrell to discuss why he believes gold remains in a long-term secular bull market, with central bank buying helping support prices even after a pullback. He explains why accelerating money supply growth points to renewed inflation pressure, why long-term bond yields may continue rising, and why investors should consider pivoting away from bonds and toward commodities. Hanke also discusses Fed independence, the growing burden of U.S. interest costs, and his work on currency boards as a tool for monetary stability in emerging markets. Follow professor Hanke: https://x.com/steve_hanke https://mises.org/profile/steve-h-hanke Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 - Introduction 00:30 - Gold’s Pullback and the Long-Term Bull Market 02:00 - Central Bank Buying and Gold Price Support 02:50 - Money Supply Growth and Inflation Risk 03:45 - Why Divisia M4 Is a Better Money Supply Measure 07:35 - The Inflation Genie Is Out of the Bottle 08:54 - The Fed, Kevin Warsh, and Monetary Policy 12:48 - Fed Independence and the Supreme Court Ruling 15:49 - How to Lower Interest Rates Through Money Supply Control 20:15 - Where Interest Rates Go From Here 22:25 - Why Hanke Would Avoid Long-Term Bonds 24:02 - U.S. Interest Expense and the Debt Burden 27:14 - What Investors Should Watch for the Rest of 2026 28:53 - Currency Boards for the 21st Century 31:38 - Using Currency Boards to Expand the Dollar System 32:56 - Why Governments Resist Currency Board Reform Copyright © 2026 Cambridge House International Inc. All rights reserved.

Josh Young joins Darrell to break down the current oil market, arguing that the recent geopolitical volatility is secondary to a larger multi-year bull thesis driven by declining shale productivity, higher production costs, weak discovery rates, and misunderstood inventory dynamics. He explains why strategic reserve drawdowns may be short-term bearish but structurally bullish over time, challenges the “oil glut” narrative, and lays out where he sees the best opportunities across small producers, onshore services, natural gas, and overlooked corners of the energy sector. Follow Josh: https://x.com/JoshYoung https://www.bisoninsights.info/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 - Introduction 00:35 - What’s happening in the oil market? 01:16 - Why Josh sees a multi-year oil bull market 03:44 - Managing volatility in oil equities 07:00 - How geopolitical shocks affect energy investing 12:04 - Strategic petroleum reserves and oil prices 17:17 - Challenging the oil glut narrative 22:36 - Why IEA forecasts may be missing the mark 23:02 - Best opportunities in the energy sector 26:30 - Offshore drillers, field services, and midstream risk 34:49 - Josh’s outlook for natural gas Copyright © 2026 Cambridge House International Inc. All rights reserved.

Michael Pento joins Darrell to explain why he believes Federal Reserve policy has widened the wealth gap, inflated asset prices, and weakened the foundation of the U.S. economy. He argues that artificially suppressed interest rates and repeated money printing have distorted markets, pushed housing and equities far above sustainable levels, and set the stage for a painful credit-driven reset. Pento outlines why he sees gold and select miners as attractive in the near term, while warning that the next recession could trigger a broader liquidity crisis, renewed money printing, and a long period of stagflation. Check out Michael's work: https://pentoport.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 – Introduction 00:29 – The Fed, wealth inequality, and Kevin Warsh 04:29 – Why the cost of money should be free 06:02 – The Fed’s new role in preventing recessions 08:26 – Government power, central banking, and distorted markets 10:52 – Why asset prices may need to fall 12:47 – Could a bond market collapse reset the system? 13:37 – Credit markets, private equity, and the next fracture point 15:09 – What happens if the Fed stops printing? 18:14 – Why Pento expects the Fed to print again 20:29 – Gold’s role in the next crisis 21:03 – Why Pento increased his gold exposure 23:23 – Real rates, disinflation, and the gold setup 24:06 – Liquidity risk and a path to $10,000 gold 25:22 – Why gold miners are attracting attention 26:20 – Lower energy costs and higher gold prices 27:12 – The “Four Horsemen” protection strategy 28:44 – Gold miner valuations versus AI and tech 31:55 – Where to follow Michael Pento 32:55 – Why active management matters now Copyright © 2026 Cambridge House International Inc. All rights reserved.

Grant Williams joins Darrell to discuss why investors need to keep perspective during sharp moves in gold, silver, and mining equities. He explains why price alone can mislead investors, how to think about trimming positions during euphoric rallies, and why understanding your own risk tolerance matters more than chasing market narratives. Grant also weighs in on debt, deficits, interest rates, AI, Bitcoin, stablecoins, and the long-term case for owning precious metals as protection against currency debasement. Connect with Grant: https://x.com/ttmygh https://www.grant-williams.com/ Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 Introduction 00:56 Gold’s Pullback in Perspective 04:07 Knowing When to Take Profits 09:20 Buying Mining Equities During Corrections 14:05 Macro Risks Driving Gold and Markets 20:56 Bond Yields, Interest Rates, and Real Rates 24:20 Debt, Deficits, and the Fed’s Tightrope 27:09 Is AI the Growth Miracle? 30:42 IPO Hype and Investor Discipline 33:31 Grant’s View on Bitcoin 36:19 Stablecoins, Tokenization, and Uncertainty 38:26 Silver’s Volatility and Long-Term Case 43:18 Why Grant Still Holds Silver 44:48 Investor vs. Trader Mindset 46:33 What Would Make Grant Sell Precious Metals Copyright © 2026 Cambridge House International Inc. All rights reserved.

Professor Richard Wolff joins Darrell for a debate on capitalism vs socialism through the lens of inequality, race, wealth, and much more. Wolff explains how his background as the child of European refugees shaped his politics, why he believes capitalism concentrates power and wealth, and how the New Deal temporarily narrowed inequality before decades of rollback. Darrell challenges Wolff on the practical question of how people can improve their lives inside the system they have today. Follow Professor Wolff: https://x.com/profwolff Check out Democracy at Work: https://www.democracyatwork.info/ https://x.com/democracyatwrk Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 – What led Richard Wolff to socialism? 10:06 – Is socialism being taught in schools today? 16:04 – Property rights, personal wealth, and socialism 24:25 – Elon Musk, billionaire wealth, and paper gains 32:31 – Capitalism and the racial wealth gap 39:09 – Roosevelt, the New Deal, and taxing the rich 43:25 – Rolling back the New Deal 45:26 – Minimum wage, debt cycles, and inequality 48:11 – Was government support “socialism” for white Americans? 52:31 – Bailouts, 2008, and socialism for the rich 55:35 – Billionaires, politics, and who controls government 1:00:16 – America’s decline and the empire cycle Copyright © 2026 Cambridge House International Inc. All rights reserved.

Jennifer Shaigec joins Darrell Thomas to unpack the geopolitical forces reshaping commodities, currencies, and investor risk. She argues that the Middle Corridor — running through Armenia, Azerbaijan, Central Asia, and the Caspian region — is becoming a key battleground for energy security, trade routes, gold accumulation, and monetary influence. The conversation connects CBDCs, stablecoins, the EU’s gold position, China-Europe trade, U.S. strategy, the Armenia-Azerbaijan peace process, and portfolio diversification in a world where digital assets, cyber risk, and sovereign control are becoming harder to ignore. Connect with Jennifer: https://sandpipertradingcorporation.com/ https://x.com/jenstilmanydots Follow Darrell on X: https://x.com/MoneyLevelsShow Follow the VRIC on X: https://x.com/vricmedia Learn to invest alongside the top minds in commodities. Join The Commodity University today. CLICK: https://linkly.link/26yH9 Sign up for Jay’s newsletter at https://2ly.link/211gx 00:00 - Introduction 01:10 - Soft nationalization, CBDCs, and portfolio risk 02:23 - CBDCs vs. stablecoins 04:01 - Middle East conflict and the Middle Corridor 05:40 - Caspian oil, Baku, and the historical battle for resources 08:16 - Nixon, gold, and the path to U.S. debt expansion 10:00 - Europe’s gold position and the euro-area gold bloc 11:12 - Central Asian gold buying and the rise of the Middle Corridor 13:06 - China-Europe trade routes and RMB internationalization 17:19 - U.S., Russia, and Central Asia’s strategic importance 19:00 - Ukraine, trade realignment, and the new world order thesis 23:06 - Armenia, Canada, and the new Great Game 25:01 - Trump, Armenia, Azerbaijan, and the TRIPP corridor 27:23 - Iran, food exports, and regional pressure points 28:22 - Armenia’s election and EU influence 31:04 - Europe, Caspian resources, and the petrodollar question 32:24 - Can the European Union hold together? 35:15 - Armenia, Azerbaijan, and energy security 36:04 - Can Europe protect its new trade routes? 38:56 - Portfolio positioning, gold, and financial sovereignty 41:31 - Cyber risk and spreading institutional exposure 45:27 - Where to find Jennifer’s research 46:52 - Final thoughts on junior mining research Copyright © 2026 Cambridge House International Inc. All rights reserved.