Introduces the interview with Willem Middelkoop, noting the geopolitical shift in the Middle East, gold at $5300, and a potential silver delivery squeeze threatening COMEX.
Jeremy Sapper
Willem Middelkoop
In 2021, I called for $100 silver. Now I'm calling for $500 silver. That's another 5x.
Willem Middelkoop
The price discovery mechanism for gold and silver is moving from Chicago to Shanghai. Open interest on COMEX is declining.
Willem Middelkoop
If we speak 12 months from now, we'll have a totally different situation. In 12 months, everybody will agree price discovery moved to Shanghai.
Asks if a hawkish Fed (Warsh) even matters anymore for gold, given current high prices and surging yields.
Jeremy Sapper
Willem Middelkoop
Who worries about the Fed anymore? That's from 10 years back.
Asks if the market is pricing in a terminal sovereign debt crisis.
Jeremy Sapper
Willem Middelkoop
The next crisis could be a sovereign debt crisis. The US and Japan act like they can always fund deficits, but there will be a point when that changes.
Willem Middelkoop
The end of this era is very positive for gold and silver, which become the main currencies.
Asks if the current rally is a cycle peak for junior miners.
Jeremy Sapper
Willem Middelkoop
We're just starting. The flow of funds into physical gold is 10x what it was in 2016 or 2020.
Asks for the one black swan people are ignoring.
Jeremy Sapper
Willem Middelkoop
The sovereign debt crisis, which will be frightening and send the world economy into chaos, but very good for gold and silver.