The 2026 pullback has been a lot more painful than 2008 despite the similar depth of the pullback.

Today I explain why - and why I remain bullish on Gold & Silver despite calls to admit defeat.

This video will not have a live chat as I will be with my family today.

@NorthstarChartsive campaign against investing in oil at the end of last year. Tons of people coming out saying there was a glut of- that price was going down. People misinterpreted that as "don’t own oil companies" - but it was so wrong. The dividends alone were reason enough to own them.

Trying to sell your house but not getting any bites?
It's the price!

I am mainly a Real Estate investor (many of you know). People are stuck at prices that only made sense when mortgage rates were half of what they are now.

The bidding wars are over.

@ASKAR61537122 getting about 3.7% on my cash position right now. It’s less than inflation. But I am also waiting for the S&P 500 to correct and possibly real estate too to pick things up with that cash. My metals I never sell. And I have been scaling up mining stocks and holding oil stocks that I bought last year (exception of refiner HF Sinclair which I took profits on).

ジム・クレイマー氏のアニメまで出来てる😂

I really dislike it when people say "I’m all cash". Do what you want, but being all cash is like being all tech or all metals.

If something goes wrong, you have no backup.

I always have cash, but also always have Gold & Silver, and am sitting in dividend paying oil stocks too!

My dear Aunt Janice died this week. Her and my Uncle Gino took me into their home as a teen. It truly changed the trajectory of my life. She did so many things for me that she didn't have to do.

Bring that type of energy into the world - you never know what the result may be.

Just did it again.

@hottrend2000 @StephenEco2hk The problem is that everyone fancies themselves to be a trader these days. Nobody can just do boring shit for 20 years and increase their chances of success.

@StephenEco2hka falling knife in metals & miners right now? I buy on a schedule and scale up when there are large pullbacks. I can’t tell you what’s right for you - but I think my approach takes volatility out of it - especially for people saving long-term for retirement. I am a buyer here.

Great job @Lagarde….

Much less folks screaming about those GOLD $15-$20k Call strikes by December?
Where did they all go?
Well managed expectations are far less deflating than moonshot blind extreme optimism.
Stay chill, you are on the winning track. #XAU #PutSpreads
@CapitalCosm @maneco1964

The Xperts will call Eric Sprott (net worth $1.5 billion) a stupid bag holder. That’s the world in 2026.

@bennyjohnson Would it be possible to help this family in need?

gofund.me/26eda8bfa

It is happening. 🔥🔥🔥

The London Metal Exchange (LME), owned by Hong Kong Exchanges and Clearing (HKEX) since 2012, is exploring the tokenization of off-warrant metal inventories stored in its Hong Kong warehouses. The aim is to turn this metal into digital assets that can be marily as collateral for loans.

Key points:

⭕️ Off-warrant metal (inventory without LME warehouse warrants/title documents) currently lacks a standardized financing mechanism. On-warrant metal can already be traded or pledged easily.

⭕️ Tokenization would create trackable digital claims on the physical metal, making it more bankable as collateral and potentially increasing liquidity.

⭕️ The LME says it is at the early stages of exploring this for business financing and will consult stakeholders. An invitation-only industry roundtable is planned for early November 2026.

🔶Policy context:

The move is tied to Hong Kong’s first five-year economic blueprint (published September 2026), which seeks to position the city as a commodities trading and financing hub by attracting investors, traders, and financiers. This aligns with China’s 15th Five-Year Plan (March 2026), which for the first time explicitly backs developing Hong Kong into a commodity trading powerhouse. Hong Kong plans to leverage its status as an approved LME delivery point (approved January 2025).

🎯Expected benefits include drawing more capital and activity into Hong Kong’s commodities ecosystem and giving the LME a new revenue stream. Separately, HKEX is testing tokenized carbon credits for near-instant settlement.

🎯This fits into the broader push for physical metal liquidity and trading infrastructure in Hong Kong (as referenced in the surrounding X discussion about MKS PAMP considering a vault there).

It’s not the AI models that will make you rich - it’s all the things the AI models need to run. Chips / energy / copper.

The models themselves will become commoditized. The Chinese will make sure of that.

Tomorrow Is The Real Test For Gold & Silver! Plus My Oil Stock Move
youtu.be/Fll6KywJ1sE?is… via @baldguymoney

This is probably the most openly manipulated and fraudulent market in history.

I am very troubled watching it.

The Fed held rates - but the true test for Gold & Silver comes tomorrow!

Join me at 8pm New York time for a special video where we’ll dive into the market - including a major move I made in my energy stock portfolio.

Let's see what happens after today's Fed decision & tomorrow's PCE data.

No matter what - I will continue to communicate my expectation of higher metals prices as I did in Sep. 2022 near the bottom.

Here is what people were saying to me then!
I hear it now too. I'm unbothered.