Hello everyone, welcome to Bald Guy Money where I am joining you all from my hotel room here in Berlin, Germany. And in my last video, I told you all that gold and silver cannot make a significant market top until we see a major breakdown in the US dollar. After testing support around 96 on the US dollar index three times since I started talking about this last summer, the US dollar temporarily broke below that key support line yesterday, which was January 27th. And it looks ready even after today's Federal Reserve rate


decision to finally make its next move down, which would be its third leg down since topping out in 2022. Which, by the way, is the exact moment when metals bottomed out because the prices of both gold and silver have a proven inverse relationship or opposite relationship to the US dollar. as you can see in this chart here on the screen showing the price of gold versus the US dollar index since 2000. So considering how close we are to a major breakdown in the US dollar on the US dollar index and


potentially even larger issues for other leading global fiat currencies. In this video I want to show you all what happened the last time the US dollar index broke down from its current level where it's at right now. I want to show you all where it went to and I want to show you what happened to gold and silver prices as it moved down. Once that's covered, I want to show you all what potentially comes after for the US dollar and potentially other currencies like the euro, the British pound, and


the Japanese yen as a debt crisis threatens their very existence. And once that's covered, I want to talk about silver versus silver miners. I want to talk about the realities of this opportunity as well as address the risks involved and tell you exactly how I'm playing it to balance both risk and reward in a way that I think is reasonable. Now, just before we dive in, I want you all to know that this midweek bonus video has been made possible by investing.com and their powerful market analysis platform, Investing Pro, which


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So, if you want access to all that and more, please take advantage of this offer and use my link in the pinned comment and 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, to get things started, despite the Federal Reserve holding rates steady at today's meeting, if you listened to what Jerome Powell said during his speech, it's clear that nobody at the Federal Reserve intends on


doing anything other than cutting interest rates the next time they take action. And when you combine that with shaky demand for US debt, which continues to grow at a rapid pace and is now approaching $40 trillion, along with the printing of money by the Federal Reserve to purchase US debt, which started again back in December of 2025, as well as high levels of geopolitical uncertainty that in many cases directly involves the United States, the path for many people, institutions, and central banks is simply out of the US dollar.


Part of which is certainly by design as President Trump himself has said that a weaker dollar will boost the American economy, making American goods and even tourism to the United States cheaper for foreigners. So, parking our feelings and political alignments to the side for a second. No matter what way you look at it, it is almost certain that the US dollar is going to get a lot weaker in 2026 with a big part of that downward pressure simply being associated with the currency cycle as the dollar is


still slightly above its average DXY strength level since 2000 which has been around 95. Now, as this breakdown happens, we are of course seeing metals move up again. Gold has smashed through the Monday high that some people on X specifically were calling a blowoff top. and silver has stabilized well above $100 an ounce, which as far as I'm concerned is now acting as strong price support until we see it break above the Monday intraday high of $117.70 per ounce and make its next move up, which as I'm recording this, it is very


close to doing. And I would look for $130 an ounce for silver as a next level target once we get past $118. Anyhow, if we look at what happened the last time the US dollar index broke down from around the 96 level, we saw it quickly move down to 90 and that was between June and December of 2020. And although the circumstances are a bit different in 2026 than they were in 2020, I would expect the US dollar to make the same move down in this third leg with support around the 90 level. Now, if we see gold and silver, which


are mapped out here versus the US dollar index, make similar moves to the ones they made during the last breakdown from 96 to 90 on the dollar index, then we could reasonably expect the price of gold to increase another 10%, taking it to $5,900 an ounce with the price of silver potentially going up another 49%, bringing it as high as $168 per ounce, which numbers I think anyone who is following this precious metals market understands are extremely possible to be seen even in the first half of this year still. So that's where


things stand with respect to gold and silver prices versus the next breakdown for the dollar on the US dollar index. And you'll be able to compare those prices versus the targets I shared in Sunday's video when we get to the viewer question. But what happens if the breakdown doesn't stop at 90? Now, I think the US dollar is going back into the7s like we saw in 2011, into the7s level on that dollar index, of course. But what if it keeps going down even lower after that as a consequence of


massive debt, which Jerome Powell, love him or hate him, correctly described today in his speech after the Fed rate decision meeting as being on an unsustainable path. Well, as I've said in past videos, the first stop for the United States is what I call the Turkish situation. And for those of you who have never been there, believe me when I say it's not some kind of totally backward banana republic. This is a developed economy. It has industry. It has tourism. It has plenty of well-educated


people, but it suffers from crippling inflation that has negatively impacted economic development as well as the lives of young people in the country who are finding it extremely difficult to get ahead in life as well as retirees who have seen the entirety of their life's savings disappear in many cases. And the reason why is because the local currency, the Turkish lera, has lost more than 80% of its value versus the US dollar over the past 5 years alone. These people in Turkey have been completely wiped out. And there are


three reasons why. Starting with the fact that President Erdogan, who is the president of the country even to today, early on after he was elected to the job, insisted on cutting interest rates despite rising inflation in the country. It was a controversial strategy, one that was supposed to help grow the economy and run it hot as they say, but it completely backfired as people borrowed money essentially for free considering the fact that inflation was higher than the rate of interest they had to pay back when they borrowed the


money. And what they did was they bought up assets driving prices up across the board. Now, in addition to that, and partly as a consequence of this, the market lost faith in Turkish debt. So here I'm talking about Turkish bonds and whether it was forcing interest rates lower or firing central bank heads that wouldn't cooperate, foreign bond investors simply lost their appetite for Turkish lending, which ultimately forced the government to fill gaps in its massive spending plans by creating new


money to spend. And things have gotten so out of control in Turkey that the government had to at certain moments in time enact measures to make sure people were using the local currency in certain transactions. And this is likely one of the first things you would see in a US dollar collapse or even a euro or Canadian dollar collapse. Forced use of the currency. Now, with that said, there is still a thriving gold and silver market in Turkey, just like there is in the United States, probably even more


developed, to be honest, out of necessity. And to get around the dangers of the failing currency, many people in Turkey have turned to saving in gold and silver apart from also saving in US dollars and euros. Because if there is any lesson we should take out of what has happened in Turkey, it's that gold and silver savers came out of this crisis the strongest. Now, what comes next is a bit scarier and it comes from another country that I've spent time in. None of these stories are anecdotal.


I've been to these places and I've seen how these economies operate. And this country is Lebanon where they have already moved past the Turkish situation. They've moved far beyond the Turkish situation to the point where the local currency is almost entirely worthless. Used for only small transactions like to buy coffee, maybe to buy cigarettes or maybe at the pharmacy for basic medicine if they even have it in stock. The currency in Lebanon, the local currency, is basically dead and has been replaced by


the US dollar with basically all large transactions in the country happening in US dollars. Now, apart from having to find a new fiat currency to use to replace the local one, which for Americans may end up being the Swiss Frank or who knows, something that might not even exist yet. For the Lebanese, metals like in Turkey have started to play a major role in personal savings for those who can still afford it. And in a world where no currency is as rockolid as the United States dollar used to be, for many, the only remaining


option for long-term savings, meaning money you don't need now, is becoming gold and silver, which is later on converted to usable currency on demand when needed to make a transaction. And that's not only where I think the United States could be heading, but it's Europe, it's Japan, it's Canada, and it's others. So instead of dreaming about a Mad Max scenario and a government where they send soldiers to your home to take your gold and silver, I just urge everyone watching this video


right now to look at Turkey and to look at Lebanon as examples of what political and currency destabilization can bring because they are proof that gold and silver can protect you. So, moving on to this video's viewer question, and it comes from David White, who wants to know what I see happening for gold, silver, and mining stocks moving forward. Now, when it comes to where gold and silver are headed, I've shared some very clear next level price ranges with you all in my last two videos with


what you see here representing next levels I expect us to hit, which is a starting range for gold at $7,500 per ounce and $150 per ounce for silver. after which meaning once we've hit those targets we have to take another look at the market and reassess as we move towards my cycle targets for gold and silver the ones I first presented to you all back in 2024 with a high likelihood of a little more upside on silver as the gold to silver ratio is likely heading lower than I had originally estimated


and that's why I say it's important to constantly analyze update and be flexible because things are changing so quickly right now that higher gold and silver prices are one of the few things I think we can count on in all of this chaos. Now, with that said, mining stocks, as many people are starting to realize, represent an amazing opportunity to make a capital gain, so a profit in fiat currency. And I have personally quadrupled my money in mining stocks since July 2023 when I first entered. And I still see a lot of upside


in these stocks. And I'm not alone in that, which is probably why famous commodities investor Rick Rule, who I last had on my channel back in, I believe it was April or May of 2025, has allegedly sold 80% of his physical silver stack to purchase silver mining stocks. And although I'm not doing that myself, and I advocate a bit of a more conservative approach, I can completely understand why he would be doing this. Because if silver supply is tightening, the value of those companies pulling the


silver out of the ground is going to skyrocket. And to be honest, they have been skyrocketing with a major caveat. And that caveat is that silver miners usually rise quicker than the physical metal itself with gains in the miners typically being 1.5 to two times larger than the gain for the metal itself. So using round numbers in this example, if silver is at $100 an ounce and rises 10%, the price goes to $110 an ounce. while the silver miners increase at 1.5 to two times faster. So at a rate between 15% to 20% which would bring a


mining stock valued at $100 per share up to $115 to $120 per share after a 10% increase in the price of silver itself. So I hope that bit is clear so far. Now, why Rick Rule is selling his physical silver to buy silver miners. At least I suppose this is the reason why. And I haven't actually heard him say it. I only read that he said it is because we haven't seen the silver miners growing at that faster leveraged rate versus the physical metal yet. In fact, where the price of silver is up about 43% over the


past month as I am recording this video on January 28th, the silver mining ETF SIL is up only 32% where it should really probably be up anywhere from 65 to 86%. And if we zoom out and take a look at the last year where silver price is up a whopping 276% the SIL silver miner ETF is up only and I use the word only very carefully here it's only up 242% when according to the historic performance and leverage ratio we might expect it to be up between 400 and 550% which suggests that if silver holds


current price levels and stabilizes even after moving up higher and potentially pulling back to where price is today. These silver miners are still extremely undervalued. And this is why you sometimes hear Peter Schiff say the miners are cheaper now than they were a year ago even though they have run up in price so much. And coming back to David's question, I have to say that I am very bullish on these mining stocks right now. And I think at least in 2026 they should outperform the physical


metals with a slight advantage to the silver mining stocks because as the physical silver market continues to get squeezed by rising industrial demand, investors will start rotating out of overpriced tech stocks and into silver mining stocks, driving their prices up. Now, once again, just to be clear, I am not selling my physical silver to purchase silver mining stocks. And as I eventually sell more of my mining stocks in the future, because you have to sell on the way up in my opinion to secure


profits, I will and have put part of those profits in the physical metals themselves. And I spoke about that late last year because as I've demonstrated in the past using gold, the physical metal over the long term tends to outperform the mining stocks. And that holds true with physical silver versus the silver mining stocks measuring from the launch of the SIL silver mining ETF where silver itself is up 555% since the launch of that ETF versus the silver mining stocks which are up 155% over the same period of time. So please


remember that point. That said, if you want to participate in this because you see the same upside potential that I've already been benefiting from and continue to see coming down the road and maybe you have some additional cash to purchase the more volatile and speculative miners with, before you buy a silver mining ETF, I would suggest checking out investing.com's investing pro tool, especially if you're already a member. I know many of you are already members because in it you can easily


compare the top ETFs based on performance like you can see I have done here with plenty of alternatives listed showing you the one and fiveyear returns for each ETF. So if you don't have access to this tool please screenshot this for future reference. Now in addition to that you can also take a look at individual stocks like silver core Metals which is a stock I own. I'm revealing a new stock in this video. And what you can do is you can see if not only it's undervalued or overvalued


according to analysts and investing pro AI, but also compare it directly to other names that are industry peers to find mining stocks that are similar but possibly have more room to run up. And the reason I say that is because doing this type of research can not only help you increase your gains, but it can also help you avoid some of the bad stocks that have been promoted by other gold and silver YouTubers like Arizona Metals, which is down nearly 50% in the middle of a gold and silver bull market,


but is an obvious red flag when looking at the company's financial health and technical performance, all of which is available to you on the Investing Pro website and the investing pro app. So that's just an additional word for you David about doing proper research before diving in head first to these stocks which again I am extremely bullish on in 2026. 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 right now, you can still take advantage of the 55% new year discount on top of the additional 15% off you get when you use my link. So, please click on the link below. Even if you're not ready to buy it yet, there's a short video that shows you how it works. And by just showing interest and clicking the link, it helps me a lot as it may lead to future midweek videos. So, with that said, I'm wishing you all a fantastic day and week ahead. If you are going to be in Germany for the World


Money Fair, I am here. I am in Berlin and I will be there tomorrow. So, if you're going to be there on either Thursday, Friday or early Saturday, please look for me. I will be there and I would love it if you went up to me, came up to me and said hello. So, until the next time everybody, I want to encourage you all to take care of yourselves and take care of each other. See you in the next video. Goodbye.