The Deep Dive, Released on 4/21/26

In this conversation with Michael Oliver of Momentum Structural Analysis, we discuss why he believes today’s market distortions are far bigger than prior cycles, why he sees the long bond and broader financial sector as the real pressure points to watch, and why he thinks monetary metals are set to benefit as confidence in the old playbook breaks down. Michael explains how decades of cheap money, bubble-building, and government control over money have shaped the world investors are dealing with now, and why he believes the next break will be more painful than what came before. What makes this discussion stand out is that it is not just another gold bull interview. Michael lays out why he thinks the stock market bubble is different this time, why central banks cannot stop every break no matter how hard they try, and why he sees silver as the metal that could move the fastest if this next phase unfolds the way he expects. We also get into Japan, bonds, private credit, AI, and why he believes silver could be entering the kind of parabolic move most investors only notice after it is too late.

00:00 Introduction
00:55 From EF Hutton to Momentum Structural Analysis
05:24 The Biggest Bubble Yet
12:32 Why Gold Is Still Real Money
16:38 Why Central Banks Still Fail
21:05 Government Spending Without Restraint
26:08 Why Japan Matters More Than People Think
29:31 The Debt Risk Under the Surface
42:48 The $500 Silver Case
48:23 COMEX Does Not Matter Here

J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, headquartered in New York City’s Battery Park. He studied under David Johnston, head of Hutton’s Commodity Division and Chairman of the COMEX. In the 1980s Mike began to develop his own momentum-based method of technical analysis. He learned early on that orthodox price chart technical analysis left many unanswered questions and too often deceived those who trusted in price chart breakouts, support/resistance, and so forth. In 1987 Mike technically anticipated and caught the Crash. It was then that he decided to develop his structural momentum tools into a full analytic methodology. In 1992 the Financial VP and head of Wachovia Bank’s Trust Department asked Mike to provide soft dollar research to Wachovia. Within a year, Mike shifted from brokerage to full-time technical research. His website is Olivermsa.com. He is also the author of The New Libertarianism: Anarcho-Capitalism.

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