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 the the Trump administration is an increase in volatility and that really means it could be either really really good or really really bad. The range has gone from this wide to that wide and it could be really really good. It could be really really bad. And when anybody with that much power starts talking like that, I'm I'm out. I'm out. I head for the exit. You're watching Silver News Daily. Subscribe for more. Everyone's panicking. Headlines are screaming collapse. Silver just posted its worst

weekly drop since 2020. Markets are bleeding, commodities are cratering, and investors are dumping anything that smells like risk. But what if I told you that this crash is the exact setup for silver's most violent rally in decades? Because while most are running for cover, Clem Chambers says this is precisely the moment to pounce. A global trade war, energy crisis, and mounting recession fears are tearing the economic fabric apart. And beneath the surface, a historic opportunity is forming. You

see, silver isn't just another commodity. It's the only metal that behaves like both money and industry. And when markets go haywire, it doesn't play by the rules. Right now, the mainstream is getting it completely wrong. And by the time they figure it out, silver might already be past $50 and gunning for triple digits. Stay with me because what you're about to hear might completely flip your view on where silver is heading next. Since I was a little kid, they always said free trade

was the way that you elevate the world. And um you know, free trade is good. Um tariffs are bad. And obviously that that looked back to things like um Smoot Holy or whatever it was called back in 1920, 1930, what basically meant that the Wall Street crash became the Great Depression. And um the idea of economics is you know one country is good at eggs and another country's good at omelets and you you know have international trade so everybody um you know does well and that's the whole point about the

market. Somebody's got too much gold, somebody's got too much risk, they swap the risk and gold and transaction is made and everybody's laughing. It's a win-win. And free trade is meant to be a win-win. And uh you know when the the big 800 pound gorilla of World Trade says, "No, no, I can have tariffs now." No, no, no. Um, you know, it's not surprising that everybody goes, "Oh, oh no. Oh no, run away. Oh no, it's the end of the world as we know it." Well,

happily, at least for now, most people don't realize it's the end of the world as we know it. Certainly the end of the economic world know it. Um, and therefore, they're not really running for the exit as fast as they're probably going to end up running over the next few days or a few weeks or a few months because, you know, it's a thing. It's real. No one's going to turn it around. No one's going to say, "Um, let's not have any of this." And it's going to be

um you know it's going to be globally economically damaging. And um you know you could make America great again by making everybody else worse off for sure. You know if everybody's starving the people with food are the ones that are rich. But um it's a beggar thy neighbor tactic. And um a lot of people are neighbors in this game. And you know the markets don't like um risk. They don't like um bad news. They don't like instability. You get high valuations when everything's stable. So when you

have instability, asset prices crater. And here we are, asset prices are cratering. And um you know any I think America's going to lose in net wealth in the stock market about the equivalent of 50% of the national debt. So it's not necessarily going to be good news um for America. Um I think it's going to be bad news, but we will see. We will see. The 3D chess players know best. They think um you know the the rest of the world should suffer. And um you know silver just had a 12.7% collapse in a single week, the biggest

drop we've seen since the chaos of 2020. And it's not alone. Commodities across the board are slipping as recession fears tighten their grip. The March 2025 US manufacturing PMI slipped below the critical 50 mark to 49.8, signaling contraction, not growth. Yields are dropping, inflation is sticking, and consumer confidence is hitting new lows. This is the textbook setup for collapsing commodity demand. Industrial metals like copper, zinc, and lead are already reacting, falling in price as global demand evaporates. and

silver. On the surface, it looks like it's just another casualty of the downturn. Analysts from Heras are already warning that silver could underperform gold this year. But here's the thing, they're only telling half the story. Because while the headlines scream doom, something entirely different is building behind the scenes. Silver's not falling because it's weak. It's falling because it's misunderstood. And the deeper this recession digs in, the more explosive the rebound could become. The setup is

forming and those who know where to look are already positioning. I mean, the point is there's the there's statesmanship used to be a thing, right? And all states gone. Anything that even looks even slightly like statesmanship is gone. Yeah. And you got people making random statements and making random claims and doing random things that that belong more to the Middle Ages. I mean, look at that map. There's a bit poking out there. We'll have that. I mean, yeah, that's the sort of thing they used

to say in the 17th century. You know, not Oh, why Canada? Why have you got a straight line as a border? That can't be right. Can we be a bit more Can we have it? Can you be one of you? I mean, what movie did that come out of? I mean you you in in in in global statesmanship, global policy, you don't talk like that. Even if you thought even if you thought like that, you don't talk like that. Oh, we'll have Greenland now, please. So, you know, that's like it's it's it's

such a shocking thing that that I don't I mean, people aren't really prepared to take it as humor. I mean, look, Mark Carney is about as smooth an operator as you can get. And listen to what he's saying. He's he's like, you know, almost almost declaring war. Elbows out. What's that mean? You got to go around and elbow an American now. And you know, and Europe I mean Europe is just it's the biggest favor that's ever happened to Europe because Europe will now be a superpower and it will be the

superpower. It's 550 million people in Europe and they all per head have the roughly the same GDP. I think it's actually higher than America. So it will outnumber and outgun America which is you know the whole the America's tried to had hegemony since the second world war by making Europe dependent on it. Look if we run the army they haven't really got much of a say have they? They'll have to be our friend and and they'll be on our side and we'll fight the communists and everything will be

great. And the American soldiers aren't there because America didn't think it was in their interest. Is to make Europe dependent. Well, Europe's not going to be dependent now. That that cord is cut. You can't go snippity snip and type. Oh, sorry. I didn't mean it. Type it back again. You know, this is global strategy here. And you know, baby and the baths got thrown out here and and you will be the global superpower now. And um you know, the damage, however long it it's going to be being

ren will not be repaired easily because you know once somebody's kicked your legs out from under you, you you're it's hard to trust them again, isn't it? And what's worse, the thing that nobody's noticed. Okay, so there's this waste and theft and fraud and all that stuff in the American government. Let's call it um you know, mus is 2 trillion. Let's say it's what? Okay, where's that one trillion going? It's going into the economy. Doesn't matter if it's going to

crypto bros with tattoos up to their ears and with long beards. Unlike copper or zinc, silver wears two hats and that changes everything. Half of its demand comes from industry, sure, but the other half, it's monetary. It's a store of value, a safe haven. And in times of crisis, it becomes the metal of last resort. This dual identity is what makes silver so dangerous to ignore. Because when the economy slows, industrial demand for metals does drop. But silver is not like the others. Even when

factories slow down, the world still needs silver. not just for tech and energy, but for financial insurance. That's why it tends to get caught in the initial panic selling with other commodities and then roars back stronger than any of them. And that industrial side, it's not going anywhere. EVs, solar panels, AI powered electronics, these aren't just future trends. They're exploding sectors right now, even amid recession. Unlike luxury goods or real estate, these industries keep growing

because they're part of a larger transformation. Silver's role in these technologies is irreplaceable. So yes, we're seeing a slowdown, but it's not crushing silver the way some expect. If anything, it's just masking the storm that's coming. The kind of storm where silver's full potential is finally unleashed. Out is a discount counted cash flow thing, right? So if you're going to live 30 years, your assets aren't really worth that much, are they? Because you're going to

be not on the planet surface pretty soon. The moment you push out life expectancy, the moment assets become more and more and more and more valuable because you know people have more and more value within themselves etc etc. So longevity is one of the reasons why you know um PE ratios are no longer seven like they were in 1920 when people lived to 49 in America and child um mortality was one in five. Yeah. We live in this day and age where peas are 30 and there is no much in the way of child mortality. You know as human life

becomes more valuable so do assets and you turn that around you you make things more dangerous. I mean risk is just danger right? You make things more dangerous you make um assets less valuable and we're on that road now aren't we? So what we might be going into is a good old-fashioned bare market. not what they call a bare market these days, which is sort of, you know, oh, it's gone down 25%, we're now in a bare market, which is, you know, I when they started saying that about 15 years ago, I couldn't stop

myself laughing and crying at the same time. That's not what a bare market is. A bare market is a market that trends down. That that's the direction it's going is down. That's a bare market. And a bull market is a market that trends up. And we've had that for best part of two generations now almost. Well, we could be going into the first bare market. Um, well, that I can remember really. I mean, certainly in my lifetime. I mean, you could say there's some bare markets in and around 70s, but

since, you know, since Reagan, it's been a bull market. There's been, you know, it's been a bull market up with corrections down. Well, we could now be in the first bare market in living memory where it's just going to go down and down and down. Oh, it's gone up. Down and down and down and down. Oh, it's gone up. down and down and down. And of course, nobody but a you know, nobody but a historian like me, Tim put one at that, you know, has ever been in a bare market. They don't even know what

that is. Oh, buy the dip. Yeah, it's going to be great. Well, you know, global conflict, worldwide tariffs, recession, depression, and total global instability, and everybody, you know, elbows out and um iron curtain down. What's that going to do to your um PE ratios of 80 and your sales times 10 valuations? It's going to just absolutely devastate them, isn't it? Isn't that the secret weapon in silver setup is a little known concept called joint supply and once you understand it

everything starts to click. Mark Thornton from the Mises Institute breaks it down like this. Most silver isn't mined from dedicated silver mines. It comes as a byproduct from mining other metals, copper, zinc, lead. That means silver supply isn't really driven by silver demand. It's driven by the demand for these industrial base metals. So, when economic activity slows and companies cut back on copper and zinc production, uh, guess what also dries up? The flow of silver. It's like beef

and leather. If people stop buying steak, you don't just get less beef, you get less leather, too. That's the trap silver is in right now. Industrial demand for base metals is falling. Mining output is dropping. And with it, the supply of silver is quietly being choked off. And this is where it gets interesting because even if silver demand stays flat or rises only slightly, a sudden tightening of supply can create a price shock. Most people aren't tracking this. They just see the price drop and assume silver is doomed.

But they don't realize the supply side is being gutted, setting up for a reversal that could hit with brutal speed. Yeah. Well, we're halfway there already, aren't we? And we're at sort of 12 13% down. Haven't calculated it from the high, but really there's only there's only one question. Is is it going to crash 25%. Is it going to really crash 30%, is it going to really really crash 50%, is it going to really really really really crash 75%. And you know, pick your number. 75%

was the NASDAQ crash of 2000, the Wall Street crash of 29. Um, and you know, I mean, I I I can't really be too bearish and think, "Oh, no, that's too bearish." Because it's not one instability, it's multiple instabilities. I mean, what's going to happen to the stock market when uh America invades Canada? I mean, it's not going to, is it? But I mean, you know, the fact that you could even consider it a possibility is enough. Yeah. And you know, gold is going straight up because

gold is for war. And you know, it's it's we're on the road, aren't we? I mean, JD Vance gave the world um you know, sent a memo only a few weeks ago that World War II has started. And you know, you don't have to interpret it like that, but you don't need much of a degree in in English comprehension to hear what he was really saying. And so, you know, it's multiple levels of dire. I mean, you've got this tariff stuff, and I totally get it. I totally understand what they're trying

to do. Um, you know, I I I understand where they're coming from. We're telling the Europeans that they've got to um, you know, uh, deal with Russia while America deals with China. But, how's that sound to you? That sounds pretty terrible to me. tariffs, you know, global conflict. And then you've got all this, oh, we'll have Greenland, please. Yeah. Oh, this line on the map. We don't like What's that line on the map doing there? Oh, we don't like that. I mean, any one of those three on their

own is enough to crash the stock market. And you've got all three and you've got them all intersecting and you've got no end in sight of it. And that's, you know, if you just look at Russia, that's bad news. If you look at China, that's not that's not good news. And now you look at America, it's a trifecta of of of chaos, isn't it? And markets don't like that. They don't like that. Assets, you know, your life expectancy correlates with the value of assets.

Longer you're going to live, the more valuable assets are, right? You can just work. And then you throw energy into the mix and the supply picture goes from tight to critical. Mining is energy intensive. processing ore, refining metals, transporting them to market. It all relies on cheap, reliable fuel. But as energy prices spike across the globe, the cost of extracting metals like copper, zinc, and lead is soaring. That's pushing marginal mines offline and scaling back production across the

board. And remember, silver rides shotgun in the system. It's not the driver, it's the passenger. So when energy costs crush base metal mining, silver's production gets crushed, too, even if silver itself is still in demand. Thornton laid it out clearly. Higher energy prices make the supply of these metals more difficult and more costly. As their supply drops, so does the byproduct silver. And it's happening right now. That means we're heading into a squeeze, a world where silver demand

holds steady or climbs slightly due to safe haven flows and tech demand. But the actual physical supply available starts to vanish. Investors are sleeping on this. They're staring at silver's price drop and missing what it really means. Supply destruction is underway. And when the market wakes up to that, it won't be a slow grind higher. It'll be a vertical move. Well, I mean, you know, you might lose your dollar, are you? Like wrong with the euro? Nothing wrong with the euro. I mean, it's got stable

government. You should see the lady that's the president talk. She goes, "Oh, this will a bit difficult." You know, it's all a bit difficult. Oh, yes. Well, but we're Europe and we have values and carry on. Very impressive. Very impressive. Actually can string a sentence that's coherent together. Yeah. Very, very, very good. and Macron has gone full Napoleon, you know, and and Europe is 550 million, highly educated, unlike a lot of Americans and and very rich. Yeah. So, you know, all this nonsense

about, you know, Europe being slow and stupid, that's that actually is American PR. That is actually what America puts out there to to say that, you know, Europe can be, you know, written off. That's what he it's not a mist I mean it's a mistake for America or American hegemony. Okay. Because I mean the people on the other side will say look we're going to cut the the the the amount the government's going to spend. We're going to get them out the way. We're going to put up these tariff

barriers and rebuild manufacturing base in America. We will be a powerhouse again. We'll stop making everybody else rich. You make everyone else rich to stop them going to war with you. So, that's quite a good strategy if you want peace and peace is good and war is bad. Okay, but let's forget all that. You know, we're we're we're macho and we're going to bring it all back to America. We're going to put these tariff barriers up, rebuild America's industrial superpower that it was before we let it

all run away. And and that's it. We don't care about anybody else. Well, that's all well and good because you really got to cut that government budget right back. Right. Right back. Yeah. So that you are actually you don't need people to be buying your Treasury bonds to support your um deficit. The deficit is all about pushing your dollars out into the world to have yourself as the international currency. And that comes with a with a very very um good um bonus because you can print you can

manufacture money in the same way as you can dig gold out of the mountain but you don't need a mountain. You just need trees and paper and some ink. So manufacturing money that the world uses is a very very good business model and America's been in that business since the Second World War. If it loses that doesn't matter if there's a a fiscal um if there's a trade balance positive trade balance and a positive fiscal balance even god forbid that at every survey right so that's a strategy but to

do that you have to dismantle the whole system as we know it you have to dismantle your government you have to dismantle world trade and you try to all do it at once that's not a sign of competence you might be able to get away with it every by go oh we're going to do this now we'll have greenland now We'll have um Canada now. Maybe leave that to later. We do the tariffs now. Oh, okay. We're done there. Now we're going to upset everybody with something else. Oh, and now we're going to blow our our public

sector. You might be able to do that over four years, but to do it in 4 weeks. And here's where the paradox kicks in. Silver's crashing yet safe haven demand is quietly rising. It sounds contradictory, but in volatile markets, it's textbook. In the early stages of financial panic, everything sells off. stocks, bonds, even gold and silver. But once the initial shock wears off, capital starts rotating into assets that offer protection. That's when silver begins to separate from industrial metals and starts trading

more like money. We're seeing the first signs of that shift already. Silver rebounded to $305 this week after its massive dip, riding a wave of safe haven inflows triggered by recession fears and the intensifying global trade war. Investors are nervous. Tariffs are back on the table. And the idea of a synchronized global downturn isn't just theory anymore. It's policydriven reality. Silver's dual nature means it can drop like a commodity and then rise like a currency all in the same

month. And that's what makes it so explosive. When riskoff sentiment takes hold and people begin looking for tangible stores of value, silver becomes one of the few places left to run. is already happening under the surface. And the deeper the fear cuts, the higher silver's monetary premium could climb to Vegas. It's still going around the economy. In fact, it's probably going around faster that way than than if it wasn't spent. That trillion dollars, if they if they take that out of the budget, that's not going

into the economy. That's a trillion dollars of cash flow that American that American economy is not going to have, right? It's not going to be there. So when some, you know, fraudster who's got his social security fraud system going goes into a bar and doesn't spend um $500 on a bottle of champagne, that bar ain't going to make it. That's what that's what that's how economics work. That's why printing money stimulates the economy. Well, they're about to pull out in a different

in in addition to jacking up prices with all these tariffs. So prices go up, people's money's not going up. People's income's not going to be going up. Not in the short or medium term. certainly not in the short term. And then they're going to yank a trillion out of the cash flow of of the economy. So a trillion dollars is coming out, which is what there's um $3 a a billion in population. So $3,000 ahead. It's coming out of the cash flow of America. So people are going to be

$3,000 worse off because that money is not going to be flushing around. It's not going to go into the supermarket. It's not going to go into Vegas. It's not going to go wherever that money is going. It's just not going to be going there. So, you've got prices going up, you've got income going down, you're going to get a recession like there's, you know, it's not really going to be one. It's going to be a depression. Economic depression, global instability, geopolitical

chaos. Oh, well, stock market, it's not going to crash, is it? No. No. It's going to stay up. So, it's just a question of how deep is going to be. How deep? because it's at least until the midterms and maybe when everybody goes, "Hold on a minute. I used to have a portfolio and now it's gone. Oh, whose fault is that? Oh, it's that guy's fault. Oh, okay. Vote in the Democrats again." That that really is the only limiting um fact of the only buffer for this runaway train. And so, if the

Republicans don't lose the House and the Senate in 18 months time, it's going to be four years of this and who knows where it's going to be then. Well, gold's telling you utter chaos. Gold is telling you where we're going to be in four years. Utter chaos. And it tells you the trend. Gold is going straight up. Absolutely straight up. And that's why it's going absolutely straight up. Let's talk about tariffs, because this is where things really start to spiral. Just last week, the US dropped a

bombshell with a sweeping package of reciprocal trade tariffs, reigniting tensions with key economic partners. And while precious metals like silver dodged the direct impact, the broader implications are impossible to ignore. Tariffs choke trade. They strangle supply chains. They inject inflation into every corner of the global economy. And most importantly, they spark uncertainty. Investors hate uncertainty. Businesses hate it even more. And in that vacuum of predictability, capital rushes to safety. That's why the silver

price rebounded despite weak industrial signals. The fear of a global trade war, especially with the added weight of a potential recession, flips the script. Suddenly, silver isn't just a struggling commodity. It's a hedge, a shield, a line of defense against economic fragmentation. And it's not just retail investors catching on. Institutional flows are shifting, too, with comics vaults seeing big moves and ETF premiums starting to narrow. This isn't just noise. It's a structural repricing of

silver's role in a fractured financial system. And if tariffs are here to stay, that repricing is only getting started. When they have that meeting, go right, we're going to do that. No, no, no, next Wednesday. No, no, let's not do it at all. All that stuff that goes on, you'll never see that. And when they say, "No, they're not going to do it. The market will do that." When they say, "Oh, we are going to do it. It'll do that." But overall, you have to be right about the

middle picture, middle to long-term pitch and position for that. So, for example, um I've just lost a reasonable amount of money today in platinum and palladium, right? Because they're the catalysts in in petrol engines and diesel engines. And you don't fight a war with with with Teslas, do you? You got to have things that burn diesel and and and gasoline. And they're going to need cat converters, and they're going to need platinum and palladium and all that good stuff. And and they only

makeund 180 tons a year of platinum. 180 tons. That's like that's like a a boot a trunk full of it. Every year 180 tons that's zero. And and you know, gold's 3,000 tons. So they don't make any of this stuff. Tiny tiny amounts. And and so I'm positioned for, you know, increasing um geopolitical stress cuz China ain't going to be um putting lipo batteries in their tanks, are they? They're going to be burning gasoline and and diesel and and you know those sort of things fit in with the hydrocarbon

industries that were going to be made orphans two years ago and now are going to be the only you know absolutely back in fashion. So energy banks funny enough do well in in in in these sort of times. Um banks what do badly is luxury you know Louis Vuitton handbags at four grand straight out the window. Yeah, travel. You don't go on holiday talking hour, dear, etc., etc. There's a whole load of things that both do well in in in conflict or or or stressful situations. But banks, steel, um,

defense, agriculture, if you if you're going to be in stocks, they're the places to be. And I've got a few there just because I can't bear to have no stocks at all. and people that are are defense suppliers that people don't realize are defense suppliers because then suddenly they just start scratching around for defense suppliers and they go, "Oh, I didn't know they did that. Oh, I have some of that." Uh, but pretty much everything else is is going to be um the techs are going to get absolutely

crushed. absolutely crushed because they got such incredible valuations that that those valuations can only be kept aloft by peace and and um you know money flow and money flows that that's what's going to bring gold down in the short term. There's going to be such so many people running for the exits and going to cash that that cash is going to drain out the market and that'll pull everything down in the short term. And then once that settles there'll be a bifocation between

Now, zoom in on the sectors that just won't quit. Green tech, EVs, AI. These industries are not only surviving the slowdown, they're defying it. And silver, it's right at the heart of all of them. The solar industry alone is expected to consume over 140 million ounces of silver this year, making it one of the biggest single sources of industrial demand. And that's not slowing down. Governments are doubling down on clean energy, pumping stimulus into solar expansion even as the broader

economy contracts. Why? Because these are strategic sectors, not cyclical luxuries. Same story with EVs. Battery and charging tech rely on silver's unmatched conductivity. Every EV that rolls off the line is another quiet vote for long-term silver demand. And let's not forget AI. As processing power scales, so does the need for precision electronics. And again, silver is irreplaceable. The kicker, these industries don't blink at higher silver prices. The metal makes up such a small percentage of their total cost. Its

demand is practically inelastic. That means even if silver shoots higher, they keep buying. So, while traditional manufacturing may be slowing, silver's biggest growth engines are still redot. This isn't the silver crash some are expecting. It's a disguised setup for breakout demand. Well, you know, war wars start at the top. So, wars start in at the thought level. Okay. So, ideas, religions. Yeah. And that's where the wars start. They start with people's ideologies. And then they move down into

trade wars. So, you know, you've got the I don't agree with what you're believing. Yeah. And everybody argues and nobody dies or not often anyway. And then you go down into trade wars and again, you know, people just go, "Oh, tariffs and mcking about and and you can't sell us here and all that stuff, right? And then it gets a little bit more arguing into land wars, aren't you?" That's the pyramid, inverted pyramid. When we were cavemen, we didn't have trade wars to fight. We didn't have

ideological wars to fight. We fought fought over land and and and food. Yeah. And as we got smarter and clever and more refined, so it tended to move up into trade wars and then into ideological wars. But you know, the moment you put too much pressure at one level, it goes down to the level below. And it's just a question of whether it goes from a trade war in into a into a cold war into a hot war. Yeah. But I I I can't I can only say what I've done, not what I should say other people should do

because they have to look at their circumstances first of all. And I'm out. The only thing I'm really in is in gold. Everything else is cash because, you know, hopefully a crash like this is short. But I I I really don't see the end of the tunnel. And if I did see a bright light, it might be the train coming the other way. So it's really pretty pretty pretty un yeah I can't I'm not able to plot that out but traditionally and you can look this up you can look out what did well in the

second world war what does bad in the second world war ultimately not many things in a bad time come out the other end even stronger because they tend to do well in in that period and then when the period changes they can't adapt okay but during a conflict agriculture works yeah still works works, you know, steals is tanks in it. Yeah. And and uh precious metal works. So you should look and and work and defense stocks work obviously. Now, interestingly enough, American a lot of American defense

stocks came straight down when Trump got in, right? And then as soon as France spoke, all the defense stocks in Europe went like that. So obviously the Americans knew that they were going to do this pulling out a NATO thing or you know the next worst thing to putting out of NATO and that people weren't going to be buying their planes anymore because they didn't like the kill switch in them. They have to make their own planes and own tanks and own missiles and own shells because you know you couldn't

rely on your um ally to provide them or let you use them anymore. Yeah. So the moment Trump got in, all those stocks went like that and all the as soon as Vance spoke, all the European defense stocks went like that. So this stuff happens before you know about it. That's the thing to realize. So you have to have a medium to long-term picture in your head that you're clear on to be able to act because the actual things that occur. Meanwhile, the macro backdrop is starting to scream stagflation and silver loves that

environment. Inflation metrics are pushing past 4%. Even as growth indicators roll over, the yield on the 10-year note has dropped nearly 80 basis points in under 3 months, while consumer sentiment is circling the drain. The Michigan Consumer Confidence Index down again, and expectations for future inflation are climbing. That's the textbook formula. Slow growth, high prices, falling confidence. It's a nightmare for policy makers, but historically, it's been a gold mine for silver. In stagflationary periods,

investors abandon financial assets and seek out hard stores of value. Gold gets the spotlight, sure, but silver, with its higher volatility and tighter supply, often outpaces it in percentage terms. Just look back at the 1970s. As inflation soared and growth stalled, silver shot up over 3,000% in less than a decade. We're now looking at eerily similar signals. Tariffs inflame costs. Energy keeps rising, manufacturing is contracting, and central banks, they're cornered, caught between fighting inflation and rescuing

growth. That's the kind of policy paralysis where silver thrives. Because when traditional tools break down, capital seeks shelter. And silver doesn't just offer shelter, it offers escape velocity. I've got large quantities of precious metal. And of course, it's dollar denominated, isn't it? Do And I'm not dollar denominated, but I I'm sufficiently pessimistic to to write that off because it's going to be everybody else buying it, not necessarily just the Americans. So it

will go up even if you're dollar denominated, you're going to do even better in a sense than somebody who's not dollar denominated who's watching the dollar go that way. But you know, I' I've got a diversified portfolio of currency, so I'm going to lose it somewhere. But it's just like, oh no. Oh no. Bloom's gone up, cold's gone down in in euros. Oh no. But anyway, that will wash out that, you know, if if you're I'm not a trader. I mean, I used to, but

my stomach lining went, so I've got to got to take a longer more relaxed view on these matters. But um look, gold is for war. I mean, you can't go around and tell Canada it's got a straight border. And that's that's offensive to you and expect people not to worry about your real enemies. I mean, you know, I mean, he's he's swinging the baseball bat at Iran. He's um dropped a few um clogs on on on the Hoous or not Hutus there, the Africans, aren't they? His and you know

what next? What next? I mean, Mr. advance has gone out and said, "Yeah, America's going to have a conflict with um with China. You better get on with fixing Russia on your own." I mean, what does that do? What does that do to security of the world? And you know, gold is for war. And you've got to have it. If you got if to fight a war, you've got to have gold. That that's a country doesn't have gold can't really fire a war. So, you've got to have it because it's the international currency of war.

It's not good for anything else. Not even for teeth anymore. you know, maybe Rolexes, but they won't be buying many of them going forward at this rate. But it is the currency for war, and that's why China's been buying it. You know, it's got these bridges on legs. Taiwan is mainly hills. So, it's mainly cliffs, right? So, they've got like three beaches they can come ashore on, and obviously that's not going to work out very well. So, they built these ships on legs like like all the world's fighting

machines that can go up and elevate up onto onto clifftops. And of course, America is up the creek without a paddle if China takes Taiwan because all their chips are made there. All their AI chips. And of course, the future of of global dominance is going to be the future of of AI dominance. So, you can't have the Chinese cut off your chips now, can you? No. So, you know, they got the memo a few weeks ago. Yeah, we don't like this NATO thing. Why are we defending you? Get on with it. which

actually means we can't fight a global war on two fronts. We we have to take on China and that's going to take our attention. You get on with this Russian stuff. Yeah. And you know what does that tell you? I mean, you just listen to a speech and say that's not what you can hear. Well, what does that do to the gold price? What does that do to what what's China thinking? Oh. Ah. Oh, I think we need some more of that gold. We're mining a lot, but I think we need more, please. More, please. And what? Anybody anybody

at all in such a conflict or even close to a conflict or even round the corner from a conflict where is where isn't around the corner these days? Yeah. Japan has to buy it, Indonesia has to buy it, Malaysia has to buy it, India has to buy it, everybody has to buy gold cuz gold's gold is bullets and you know the moment if you see gold go down in a lump for no apparent reason start trending down they're all going to have a hugathon, aren't they? All going to go to UN and throw a party. Meanwhile, the macro

backdrop is starting to scream stagflation, and silver loves that environment. Inflation metrics are pushing past 4%. Even as growth indicators roll over, the yield on the 10-year note has dropped nearly 80 basis points in under 3 months, while consumer sentiment is circling the drain. The Michigan Consumer Confidence Index down again, and expectations for future inflation are climbing. That's the textbook formula. Slow growth, high prices, falling confidence. It's a nightmare for policy makers, but

historically, it's been a gold mine for silver. In stagflationary periods, investors abandon financial assets and seek out hard stores of value. Gold gets the spotlight, sure, but silver, with its higher volatility and tighter supply, often outpaces it in percentage terms. Just look back at the 1970s. As inflation soared and growth stalled, silver shot up over 3,000% in less than a decade. We're now looking at eerily similar signals. Tariffs inflame costs. Energy keeps rising. Manufacturing is contracting. And

central banks, they're cornered, caught between fighting inflation and rescuing growth. That's the kind of policy paralysis where silver thrives. Because when traditional tools break down, capital seeks shelter. And silver doesn't just offer shelter. It offers escape velocity. I don't care. I'm, you know, I've only I've only got a couple of crystal balls. I don't know which ones are going to go um how far. But it I mean, I might be completely wrong. The point is I'm

positioned in in this um hell to skelter situation that we find ourselves in. And you've got to try to pick winners or go to cash and then work out what the hell you're going to do with it. Because if it all goes um belly up that's going to get you know going to get shredded by inflation. What I mean what's America going to do when those tariffs put the prices up? And you know actually it's balancing because it's going to be stagflation. Maybe maybe the the lack of money coming into the system because of

cutbacks in government spending will counteract that maybe. Or maybe they'll end up because you know okay I'm I'm the American government and I and I and I take $1,000 and I waste it. I just give a load of people mobile phones, okay? I buy mobile phones off somebody and I give them away. I I just fritter it on something ridiculous. People counting trees. America spends 100 million every year counting trees. Okay, that seems like a bit of a waste to me. Let's use that as an example. Okay, so I give out

100 million pounds to tree counters. Well, they spend it, don't they? And also, they pay tax. So, if half of that's coming back, well, now I don't spend it. I don't get half of it back, do I? And I don't get the 1.3 multiplier of it on the economy. So I don't get whatever nearly half of it back on the.3 either. So I don't get 6 of it back anyway. I don't get any of it. So my tax goes. Well, what happens to my deficit then? Oh, funny enough, my deficit doesn't doesn't go down. It it stays the

same. Oh, what are you going to do now then? Well, I'm going to have to carry on printing money. But economic activities dropped. Now I'm printing money. Well, that's inflationary, isn't it? So, you got to be able to h balance your fiscal um uh back deficit or get your fiscal back to zero. And that's drift. That's very difficult when you're cutting off everyone's money supply which you then tax back again. And then you got you get your balance of payments back together again. Yeah. Which has

always been 500 billion in the wrong way round. So, you got to do these tariffs which put the prices up which means people got less to spend on actual things and they're paying this kind of stealth tax. Are you going to are you actually going to have a fiscal are you going to have happiness and joy? Clinton, he had a a fiscal surplus because the economy was so strong, money was flowing in from every corner. Yeah. Well, obviously the politicians found ways of blowing that. But nonetheless, you don't tend to get

fiscal surpluses when you've got a recession. And if you jack up prices through tariffs and you cut down um you know people's income by having austerity really deep austerity 15% austerity and your stock market where which way is it going? That's all you have to know you know all you have to know is which way is the market going. Doesn't matter how far just the direction. Yeah. And if it's going down very difficult to make money. If it's going up very easy, right? As most

people have learned over the last 20 years. But, you know, it's it's about to get very very very well today, yesterday, very spicy. I I wrote on twi on Twitter X, you can check me out on X if you dare. On the 4th of March, I said Trump crash question mark. That was rhetorical, of course. And this is exactly why Clen Chambers isn't running from silver. He's running toward it. While panic dominates the headlines, Chambers sees a contrarian opportunity unfolding beneath the chaos. his view.

Crashes create entry points. And right now, Silver's crash isn't signaling weakness. It's flashing a once in a decade entry for those who understand the long game. Chambers isn't guessing. He's watching industrial demand hold firm, even as economic sentiment nose dives. He's tracking energy costs that are gutting base metal supply. He's seeing the early signs of safe haven rotation and institutional metal flows ramping up, not down. He knows how joint supply works. He knows how stagflation

warps markets. And most importantly, he understands timing. It's not about chasing silver when the headlines turn bullish. It's about positioning before the floodgates open. That's why he's not phased by a $29 price tag. To him, that's not a red flag. It's a green light. Because once silver crosses back above $35 and breaks that resistance wall, the narrative will shift. Momentum will build. And by then the easy money will already be gone. Play while Rome burns. Then you you you try to pick out

the winners, you know, while the lava's raining down on you. Um and to me, precious metals is is a bit of a no-brainer. And um palladium, I mean, it can go it can quadruple very easily. It's a very very fragile um uh commodity. And I think it might have even been $4,000 not too long ago. So four times the current price and the reason it's so um repressed suppressed is that everybody's going everyone's was going is going electric and all those cat converters going to get ground up

put in a can shipped to China to be refined. Well maybe that's not going to be happening anymore. And you know the the thing about th this is the big theme and it has been a big theme up to now but for slightly different reasons is AI equals pure energy. To make AI you have to burn energy. That's it. It's it's like it's like crypto on on crack. Yeah. you the the things that do the AI training, not the playing, but the actual training of all the data and which you can spend 100 million on on

energy to make that model is coming down in price, but that gives you an idea of how much energy electricity that is. Yeah. AI equals energy. Intelligence equals energy. Right now, that sounds fine until you realize there's no second place in AI. If I got more AI than you, you're toast. You're absolute toast. I'll dominate you. I'll take everything because I'm smarter than you. So you you're you're like my dog. You got you got no hope against me because I got more intelligence than you. You're

you're completely toast, aren't you? There's no second place. No second place. And therefore, there's no limit to the demand. If you're China and you're America, or even if you're Europe and you're America, the one that comes number two in the AI race, that's it. Forget it. go home. You know, they put you on a reservation. So, there's no second place in AI. Well, AI is energy. So, there's an infinite demand for energy. All this glob climate change stuff, that's all

dead. Cuz they'll be they'll be they'll be boiling the oceans to be number one. Absolutely boiling the oceans. Now, there's global conflict. H joy. Joy. And you're going to want all your equipment running on AI, aren't you? Because you better not have no AI when the other guy's guns got it. Yeah. So there's there's no limit to how much energy is going to be demanded. So there's no limit to to energy demand. So you can forget writing off hydrocarbons as an orphan energy. Well,

you can get your PL palladium um palladium cat converter in there just to make it slightly less more damaging. Now you only got 180 tons of it every coming out of the ground every year. So that's at some point it's just going to go, you know, end. So here we are. Silver's down, fear is up, and the crowd is running for the exits. But beneath the surface, something much bigger is brewing. Energy shocks are strangling mining output. Recession fears are suppressing base metal production, and

with it, silver supply. Meanwhile, demand from tech and safe haven investors is only getting stronger. And the deeper this crisis goes, the more silver's monetary side takes over. Clem Chambers sees it. Mark Thornton explained the mechanics. And if you've stayed with me through this whole discussion, you can see it, too. This isn't a typical crash. It's the coiled spring moment before a potential super cycle. The panic is the setup. And when silver rebounds, not if, but when, the move could be unlike anything

we've seen in a generation. So, the question isn't whether silver will recover. The question is, will you be watching from the sidelines or already positioned before the storm? If you found this breakdown valuable, make sure to hit that subscribe button so you never miss another deep dive. And remember, none of this is financial advice. Always speak to a qualified professional before making any investment decisions.