Hello everyone, welcome to Baldu Guy Money. And as I am making this video, Silver, which I mentioned on Sunday, had briefly taken the fifth spot on this list of top 10 assets when ranked by market cap, has now passed Google to take the fourth spot on the list. While gold and silver together continue to grow their share of value and have now reached an astonishing 60% of the total value of the assets on this list despite the S&P 500 being near its all-time high, which is the first time they've


been at or above 60% since the stock market flash crash earlier this year. And this really underscores how rapidly investors and institutions are moving to get into gold and silver as we experience structural changes to our monetary system and commodity supply chain challenges that threaten significantly higher prices for both gold and silver moving forward. And as I said on Sunday, don't confuse some of the volatility we're seeing in price, meaning big moves up followed by big moves down as some kind of sign that


gold and silver are making a repeat of 1980 or 2011. Because as I demonstrated in that video, both metals when measured on an average per decade basis, and I showed this data along with other numbers in my last video, still have plenty of room to run as the performance for gold and silver in the 2020s is still quite modest versus the gains we saw from the 2000s moving into the 2010s when this movement into precious metals, which is gaining steam right now, first began. And this applies most to silver,


which still has a lot of catching up to do, up only 26% on an average pricing basis in the 2020s, despite running a supply deficit, meaning more silver was used than mined in each year of the decade, which should have and at some point will have explosive consequences for silver price, which we may be at the beginning of right now in 2025. Now, with that said, there is one thing that has people who genuinely want to buy gold and silver worried and waiting for a better entry point to start buying,


and that is a crash of the objectively overvalued American stock market. Now, this is a sensitive topic that absolutely everyone needs to be educated on because it could mean the difference between success and failure, not only in the market right now, but also as you approach retirement. So, in this video, I am going to show you why waiting for a 2008 style crash in gold and silver is a huge mistake. Once that's covered, I am going to reveal what I think we should really expect for gold and silver in a


50% stock market crash. And we're going to finish on the topic of mining stocks, how they're split in my portfolio, and if I see the same potential in them that I did in 2023 when I started to buy them. Now, just before we dive in, I want you all to know that this bonus midweek video has been made possible by investing.com and their powerful market analysis tool, investing pro, which I use to track my personal mining stock portfolio and is available again starting today at a steep discount for


the next 4 days with a 55% discount for all of my viewers on top of the additional 15% you get when you use my link. So, if you missed the last discount, you are getting another chance before the new year to take advantage of it. And this gives you access not only to the useful desktop and laptop computer version of the service that allows you to easily compare stocks you own, in this case, Pan-American Silver, with other stocks in the sector to help you identify new and sometimes even better opportunities. But it also gives


you access to their mobile app, which like the desktop version includes access to the Warren AI tool that can show you, for example, where a mining stock might be headed once silver hits $100. And as you can see on the screen in the red box, it can even compare your stock versus other stocks in the sector like Heckla Mining to show you which ones might benefit from that scenario the most, helping you improve your diversification and even upside opportunity. all from your mobile phone. So, if you want access to that and more,


please take advantage of this offer and use my link in the pinned comment video description below. It gives you an extra 15% off on top of the 55% discount, and I recommend it for anyone who owns or is planning to own mining stocks. So jumping in, gold and silver really started to turn around in 2023 once investors realized that the Federal Reserve couldn't raise interest rates much higher than 5% by 2024, sensing that interest rate cuts were likely coming back, both metals started making moves up again. And despite the fact


that some of us could clearly see what was coming as new demand for both gold and silver was exploding, there were also people who called the top multiple times along the way, claiming they would buy the crash because that's what happened in 2008. Now, there's no doubt that scenario is a tempting thing for patient investors to wait for, especially considering a lot of the similarities we see today to what happened back in 2008. Because as the bubble burst in 2008 in the face of a stock market making new all-time highs


and housing prices being fueled by a massive credit bubble, both of which again sound very familiar to today. Once the bubble popped, gold fell 34% from its highs and silver pulled back a whopping 60% from its highs. And with both metals at nominal all-time highs today in what many people perceive, as I've just said, as a similar environment to 2008, a repeat of that crash would bring gold from around $4,300 an ounce down to $2,800 an ounce and silver, which is trading around $66 an ounce right now. all the


way back down to $26.40 an ounce, which is slightly lower than where we started 2025. And it's this temptation to wait that's keeping many people out of the market. But being wrong on this topic for 2 years in a row now hasn't been enough for some people to sit down and reassess their position on precious metals. In fact, the higher metals prices go, the more confident these people become that a repeat of 2008 is what is going to happen. But as I've said before, and I think it's worth


repeating, the 2008 scenario is not going to happen again. And the reason is because a lot of the rules that forced banks who were going broke in 2008 to use metals to raise liquidity to prevent bankruptcy have changed. Now, I'm going to show you how in a moment, as well as how these changes have impacted precious metals in similar situations since. But as a quick review, in 2008, when the housing bubble finally popped, a lot of banks were left holding bad loans in the form of mortgagebacked securities. And


many of these loans were so bad and so risky that not even the Federal Reserve would take them as collateral or in even simpler terms as a security deposit that the banks could use to borrow money against from the Federal Reserve to save themselves from bankruptcy. But where the Federal Reserve wouldn't take those bad mortgages as collateral, the bullion banks who trade, store, and manage precious metals could accept them. and they did accept them. And in exchange, the bullion banks gave their friends at


the big banks the gold and silver that they were holding, which the big banks took and sold on the market to raise money to stay in business, which crashed precious metals prices, followed by a huge rebound after the banks secured loans against their risky assets from the US government and they could pay the bullion banks back by repurchasing the gold and silver. they just sold on the market. Now, as I've said, since 2008, the rules regarding what banks can borrow against have changed dramatically. In fact, today, banks can


basically borrow from the Federal Reserve against any assets they have at their full book price. So, for even higher than what the market values it at. And we saw that come into play when Silicon Valley Bank failed in the second week of March 2023, which was the largest bank failure since 2008 and was then followed by First Republic Bank only a month later, which was even larger than that. And those failures prompted the Federal Reserve to launch its bank term funding program, the BTFP. And I assume most of you have forgotten


what that was, but what it essentially did was it allowed larger banks like JP Morgan to buy the smaller banks while securing loans against the bad assets they were getting from the failed banks. Not at the lower market value that caused these banks to go bankrupt in the first place, but at the book value. And this event, which showed the Federal Reserve's commitment to avoiding a 2008 style banking crisis again, tells us that when faced with existential crisis, large banks no longer have to turn to


the bullion banks to raise money like they did in 2008. Which is why we saw metals prices rising during the 2023 banking crisis, not falling with gold up 11% and silver up 17% during that crisis before consolidating in the second half of 2023 and making large moves up in 2024. And this also tells us that expecting a major 2008 style crash for metals in the midst of what is essentially a bare market for bonds is complete nonsense because as I've said before, gold and silver are the safe havens right now. With that said, it


doesn't mean that we can't see a short-term selloff or pullback if things get really bad on the market. But what we're looking at is something closer to what happened during the dotcom market crash that didn't directly involve the borrowing and selling of gold and silver by major banks as it did in 2008. And where we saw the S&P 500 crash by nearly 50% in the wake of the dot bubble crash, gold only pulled back 20% against its 2000 high. And in the case of silver, during the very same period of time, it


pulled back a modest 27% versus its 2000 high and not 60% like it did in 2008. And again, that's because they weren't involved in a bank liquidity scheme. And because they won't be involved in such a liquidity scheme this time around due to the Federal Reserve backstopping basically all American banks in the worstc case scenario where the market tanks, margin calls come in and everything gets sold off and we see something like a 50% crash like we saw during the dot market crash. We're


likely looking at gold around $3,500 an ounce and silver somewhere in the 40s, which in itself isn't guaranteed as we saw gold and silver prices go up during the banking panic of 2023 and gold prices rise during the last major market selloff which happened between February and May of this year. So, as much as I prepare myself mentally for the worst case scenario, I never forget the value of what it is I am purchasing, which is gold and silver, which have been money for thousands of years, versus what I'm


trading to get it, which is paper that has no real value at all. Past society's trust that the government isn't going to print too much of it. And as far as I'm concerned, that trust has been completely broken. And I say this as I share the gold and silver price targets I am looking to hit in the next 6 months because this is what I am squarely focused on while still understanding what the realistic worst case scenario for precious metals could be. Now with a strong conviction that gold and silver


prices are heading higher from here. One of the things I've been doing since 2023 is I've been buying mining stocks as many of you already know. And although I'm not adding to my portfolio right now, for the sake of transparency, I am holding 20 individual mining stocks that I expect to increase significantly over the next 2 years. And considering how we've just covered why I don't think metals are at risk of a 2008 style crash, I want to speak to people like soft pastels, hello if you're watching,


who are convinced on metals but still on the fence about what to do with the mining stocks. So to start, I have to say, as I always do when I cover this topic, that as far as I'm concerned, the physical metals are the ultimate form of protection, free from counterparty risk, and in a philosophical sense, not a means to an end, but an end by themselves. And since 2006, when the large miner ETF, the GDX, was launched, they the physical metals, have outperformed the miners significantly. And when I take profit in the mining


stocks, part of that money lands straight into the physical metals themselves, as it did a couple months ago when I took profits on my miners for the first time. Now, with the preamble out of the way, considering the current environment, which is 10 years of underinvestment in mining from 2013 to 2022, significantly higher metals prices, relatively low oil prices, and the Federal Reserve in the middle of an interest rate cutting cycle, which will make minor debt cheaper to service, and inevitably push metals prices even


higher from here. It's no wonder why even my worst performing mining stock, which is B2 Gold, has outperformed physical gold in 2025, up 79% so far in 2025 versus a 64% increase in the price of gold. It's because the miners are still objectively undervalued. And in a market where value is admittedly hard to find and investors are looking for growing margins and solid free cash flow, even my mid-tier performing stocks like the large miners pneumont and Pan-American silver are outperforming


silver which is the best performing of the three precious metals this year. And with the understanding that this is a trend that is likely to continue over the next two years and I'll cover why in a moment. It's why I remain in these metals mining stocks. Now to make things perfectly clear for you all as to how my portfolio is currently structured of my total exposure to metals and things metals related which includes both the physical metals and of course the gold and silver miners about 65% of the value


of that is in physical gold 18% is in physical silver and 17% of that is in the mining stocks which grew from being less than 10% back in July. high 2023 when I first started buying them. And although I'm letting the position grow, as a conservative investor, I think keeping the miners at less than 20 to 25% of your total metals exposure makes sense, especially if you're just getting started. Now, how I entered these stocks was by using the dollar cost average approach. And I did it in three waves.


The first was in 2023, the second was in 2024, and the third was in early 2025 with a few rebalancing exercises along the way during which I cut or scaled down on losers, including B2 Gold, which I scaled down on in favor of higher risk silver mining stocks, which have been amazing performers since I added them. And I think that anyone who has been considering entering the mining stocks should consider doing the same. And realistically, considering my six-month price targets for gold and silver, that


dollar cost averaging should start right now. starting with larger miners like Pneumont and Pan-American Silver to build a solid base before scaling up on riskier smaller producers while avoiding exploration miners altogether keeping in mind that many of them won't reach the production phase anytime soon if at all because the quote a mine is a hole in the ground with a liar on top uniquely applies to those companies and it's why I don't own them or advertise them here on my channel. That said, if you're


looking to save a little bit of money by timing the perfect entry point to a stock and you already have a few companies in mind, for those of you who already have access to an investing pro account from investing.com, and I know that's about 300 of you right now, or maybe you're planning to have one because you don't want to just choose mining stocks blindly, you can go to the chart of the mining stock you're looking to buy on investing.com and click the analyze chart button that I've


highlighted here on the screen and it will give you suggestions based on technical analysis of when you may want to buy a pullback. In this case, for Pan-Amean Silver, it's suggesting between $44 and $46 per share with an upside target on this stock between $90 and $100 a share from its current price of about $50 if silver hits $100 an ounce, which is based on my request of what Pan-American Silver stock would be once silver hits $100 an ounce. And you can do this for any stock and for any metal, of course. Pan-American Silver


mines more than just silver. It also is a large gold miner. So you could, for example, ask it what Pan-American Silver's stock price would be at at $100 silver and $5,000 gold. You could use any combination of gold and silver price for any stock you'd like to see it give you an estimate for. if you have access to the tool, of course. But remember, if you really want to do this, you have to be able to handle a little volatility because the last time mining stocks pulled back, some people complained


about it. And they even had the audacity to come to the comments section of my video and blame me for it. when in reality, and this is a message to soft pastels who ask the question about whether to enter now or not, those pullbacks are just opportunities using the dollar cost average approach to lower your average purchase price. And considering how most mining stocks have made new highs since that la last pullback that we experienced, it's really a lesson in being ready to hold for a year or longer


and not giving up after a month or even shorter as some people seemingly have done. Now, getting to the bit of how undervalued mining stocks currently are versus metals. With gold and silver up about 100% each on an average basis since 2020, I see the mining stocks represented here by the GDX, which are traditionally leveraged plays on the metals, meaning they should rise in my opinion at a factor of 1.5 to two times faster than the price of the metals themselves. It tells me that these stocks are still very much undervalued


since the GDX is only up 90% versus its 2020 high. And I'd say the mining stocks are still priced according to my estimations for $3,300 gold and $40 silver versus where the prices really are today with a lot of catching up to do. And again, it's why I'm still in them and why I still see more gains coming for those mining stocks. And I will continue to shave my position as these mining stocks move up, taking profits along the way and locking some of those profits into physical metals


just because that's what I do. So, as we finish, I just want to thank investing pro from investing.com for making this video possible. It is a powerful platform that I really use and recommend. And if you could please click on my link below, which is in the video description and pinned comment, and watch the short video demonstration of some of the things you get when you sign up for it, even if you don't want to buy it yet. It really helps me a lot and can lead to future bonus videos sponsored by


Investing Pro, which again is a good product. So, please click the link and if you want to sign up because you want to increase your confidence when investing in mining stocks or oil stocks or any stocks, please consider doing it now and take advantage of the 55% off deal plus the extra 15% you get when you use my link. So, with that said, I want to thank you all for joining me for this midweek video. Please be sure to leave your comments and questions and feedback in the comments section below. And as I


say at the end of all of my videos, please remember to take care of yourselves and take care of each other. See you all in Sunday's video.