In this conversation with David Morgan, we discuss the recent collapse in silver, why he believes the long-term bull case for precious metals is still intact, and what risks in the broader financial system could force the next round of quantitative easing.
David breaks down why private credit remains one of the biggest threats hiding in plain sight, why the Japanese bond market still matters far more than most investors realize, and why cyclical pressure on gold and silver has not changed the deeper structural problems driving the metals story.
We also get into portfolio sizing, how investors should think about physical metals versus mining equities after a sharp correction, what signs to watch for in private credit defaults and carry trade stress, and why David still believes this bull market is doing exactly what bull markets are supposed to do: shake people out before the next move higher.
