Silver delivered a whopping 144% return last year, and its momentum flowed into 2026, culminating in a record high of over $120 per ounce on Jan. 30. Some investors treat silver like gold, as a store of value, which they buy during times of heightened political and economic uncertainty. However, silver also has vast industrial uses that soak up a significant amount of supply each year. Many investors choose to own the iShares Silver Trust (NYSEMKT: SLV) as an alternative to physical metal. It's an exchan ...

Core Argument - The discussion highlights the ongoing debate about the future of money, particularly focusing on Bitcoin, inflation, and the U.S. dollar's global position, with Peter Schiff criticizing Bitcoin as a speculative asset lacking intrinsic value [1] Group 1: Bitcoin and Speculation - Schiff argues that Bitcoin's demand is driven by speculative trading, where buyers hope to sell at higher prices, likening it to the greater fool theory, and he does not consider it a productive investment [3] - He contends that a proposal to establish a U.S. strategic position for Bitcoin would effectively be a taxpayer-funded bailout for early adopters rather than sound monetary policy [2] Group 2: Inflation and Economic Policy - Schiff criticizes official inflation statistics, claiming they do not accurately reflect the real cost of living, and asserts that the Consumer Price Index has been modified to understate inflation [4] - He condemns fiscal policies from both Democratic and Republican administrations, particularly the Big Beautiful Bill proposed by Trump, for worsening the deficit through increased government spending and tax cuts [5] Group 3: Historical Context and Dollar Value - Schiff traces current economic issues back to the end of the gold standard in 1971, arguing that the transition to a fully fiat dollar has led to a loss of purchasing power and distorted asset prices due to prolonged low interest rates and money printing [6][5] - He emphasizes that the U.S. dollar's status as the leading reserve currency has allowed the country to maintain trade deficits, spending beyond its production capabilities [7] Group 4: Global Dynamics and Gold - Schiff notes that the recent sanctions on Russia have prompted countries to reassess their reliance on the dollar, leading to increased diversification into gold by central banks, as evidenced by rising gold prices [8]

Cryptocurrency & Energy - Comedian Jimmy Carr suggests the UK government should mine for Bitcoin using idle power stations at night [1] - Carr views Bitcoin mining as a potential "new gold standard" [1]

Cryptocurrency Market Trends - The cryptocurrency market is evolving beyond Bitcoin to include Ethereum, Solana, and TON [1] - Tether Gold DAT (@tethergold) is introducing a gold standard to the DAT landscape [1] Digital Asset Tokenization (DAT) - AurelionGlobal, represented by @pA1nD, is involved in bringing the gold standard to the DAT landscape [1] - The industry is exploring the tokenization of assets like gold through DATs [1] Industry Events & Collaboration - Gareth Jenkinson (@gazza_jenks) and @rkbaggs are hosting a CHAINREACTION event [1]

Historical Context & Monetary Policy - The report draws a parallel between the 1929 gold standard era and the present fiat standard system [1] - Under the gold standard, the Federal Reserve's ability to print money was limited [1] - In contrast, the current fiat standard is characterized by excessive money printing ("Brrrrrrrr") [1] Future Projection - The report suggests a potential shift or significant event in 2025 related to the fiat standard [1] Key Individuals/Entities - Mentions Nick Szabo and @awealthofcs, possibly indicating relevant perspectives or sources of information [1] - Includes @iambitcoinonly, suggesting a focus on Bitcoin or cryptocurrency-related viewpoints [1]

Market Analysis & Investment Strategies - Gold has delivered an 11% annualized return over the last 20 years, outperforming productive assets due to currency debasement [1] - Bitcoin has significantly outperformed gold, with a 1500% increase compared to gold's 150% increase since 2020 [1] - The market environment has shifted, with macro factors like currency debasement (30% purchasing power loss since 2020) becoming more critical than individual company fundamentals [1] - A potential Bitcoin standard in the Western world is more likely than a return to the gold standard, while China may explore a gold-backed currency [2] - The US government has indirectly acquired $15 billion worth of Bitcoin through seized assets [2] Retail vs Institutional Investors - Retail investors have been continuously buying the dip, demonstrating a different investment behavior compared to institutions [11][13] - Retail investors excel in momentum and dip buying, potentially outperforming institutional investors due to fewer constraints [15][21] - Retail investors are often smarter than institutional investors because they are unconstrained [21] - Independent investors are well-positioned for the future due to their independent thinking and lack of allegiance to specific companies or ideas [24] Government & Economic Factors - The US national debt is approximately $37-38 trillion [2] - The government shutdown has a limited impact on financial markets and the average American, with the stock market responding more to presidential communications [23][24] - The Fed is expected to cut rates, and failure to do so could erode investor confidence [25]

Alamos Gold (NYSE:AGI) 2025 Conference Summary Company Overview - Alamos Gold is a gold mining company with a market cap that has grown from $400,000 to approximately $15 billion over the years, demonstrating significant growth and success in the industry [10][12][19]. Key Industry Insights - The gold mining industry has experienced cyclical downturns, with a notable period of poor performance from 1996 to 2005, during which gold prices were low [3][4]. - The current market environment is characterized by a potential bull market for gold, driven by the debasement of the U.S. dollar and a shift in perception of gold as a monetary asset rather than just a commodity [12][19]. Core Company Strategies and Performance - Alamos Gold has focused on strategic acquisitions during market lows, which has allowed the company to build a robust production profile and increase its mineral reserves significantly [14][24]. - The company has grown its annual production from 427,000 ounces to 600,000 ounces, with plans to increase this to over 1 million ounces [26][29]. - The cost of production is projected to decrease from $1,400 per ounce to $1,100 per ounce as economies of scale are realized [17][31]. Financial Performance - Alamos Gold has generated nearly $400 million in free cash flow from its operations, with a strong focus on retaining earnings for growth [14][20]. - The company has created approximately $10 billion in value through its M&A strategy, with significant returns on investments made in various projects [20][22]. - The current valuation of Alamos Gold is approximately 9.6 times enterprise value to EBITDA, which is considered low compared to other sectors [18][19]. Project Highlights - The Mulatos project, acquired for $10 million, has generated $790 million in cumulative free cash flow [20]. - The Lynn Lake project, acquired for $35 million, has a market consensus NPV of $1.3 billion, showcasing the potential for significant returns [21]. - The Island Gold project has seen reserves grow from 750,000 ounces to over 6 million ounces, with a consensus value exceeding $6 billion [22][24]. Market Position and Future Outlook - Alamos Gold has outperformed its peers and the gold price itself, with a 350% increase since December 2021 [17][18]. - The company is well-positioned for future growth, with a diversified portfolio of projects in safe jurisdictions, primarily in Canada and Mexico [31][39]. - The management emphasizes a conservative, low-risk strategy, fully funding expansions through generated cash flows [31][39]. Risk Management and Strategic Focus - The company has shifted its focus away from riskier jurisdictions, such as Turkey, to concentrate on stable markets in North America [35][39]. - Alamos Gold's management has learned from past experiences and is committed to maintaining a sustainable business model that prioritizes shareholder value [38][39]. Conclusion - Alamos Gold presents a compelling investment opportunity within the gold mining sector, characterized by strong financial performance, strategic growth initiatives, and a favorable market outlook for gold prices [12][19][31].

Aug 15, 1971: Gold standard is "paused."Aug 15, 2025: My iced coffee is $7. ...

Bretton Woods System Overview - The Bretton Woods system aimed to establish a stable international monetary system to foster global trade and economic stability after World War II [6] - The system placed the US at the center of the economic universe, with the US dollar pegged to gold at $35 per troy ounce, and other countries pegged their currencies to the dollar [21][22] - The International Monetary Fund (IMF) and the World Bank were created to oversee the system, promote economic development, and ensure adherence to the fixed parity system [25] Systemic Flaws and Challenges - The system's reliance on a national currency (the US dollar) as the primary source of international liquidity contained an inherent contradiction, known as the Triffin dilemma [32] - The US's persistent balance of payments deficits led to a flood of dollars, eroding confidence in the dollar's convertibility into gold [36] - The US did not actively manage its exchange rate, placing the burden of adjustment on other countries and creating an "exorbitant privilege" for the US [28][31] Demise of Bretton Woods - Countries began swapping dollars for gold, leading to a depletion of US gold reserves [41][42] - On August 15, 1971, President Nixon ended the convertibility of dollars into gold, effectively ending the Bretton Woods system [44] - The end of Bretton Woods led to a system of free-floating exchange rates and a terminal decline in the value of many currencies [47] Legacy and Implications - Bretton Woods institutionalized the dollar's global role as the dominant reserve currency [21] - The system's flaws led to the erosion of the US domestic manufacturing base and a growing net international investment position deficit [39] - The end of Bretton Woods marked the birth of fiat currency, backed by nothing but the issuer's monopoly on violence [46]

Historical Context & Monetary Policy Shift - In 1971, the US defaulted on its debts due to insufficient gold reserves to back its paper currency [1][2][3] - President Nixon suspended the dollar's convertibility into gold, effectively ending the gold standard [3][5] - President Roosevelt similarly broke the link between paper dollars and gold in 1933 [7][8] Economic Impact & Market Reaction - The stock market surprisingly rose nearly 25% after Nixon's announcement, contrary to initial expectations of a plunge [6] - Devaluation of the dollar occurred because the US printed more paper money than it had in gold reserves [9] - Breaking the link to gold allowed the US to continue spending beyond its earnings by printing more dollars [9] Currency Strength & Economic Fundamentals - A nation's currency strength is based on the strength of its economy [4] - The US economy was considered the strongest in the world at the time of Nixon's decision [5]