The Deep Dive, Released on 7/1/26

In this conversation with David Morgan, we discuss the recent collapse in silver, why he believes the long-term bull case for precious metals is still intact, and what risks in the broader financial system could force the next round of quantitative easing. David breaks down why private credit remains one of the biggest threats hiding in plain sight, why the Japanese bond market still matters far more than most investors realize, and why cyclical pressure on gold and silver has not changed the deeper structural problems driving the metals story. We also get into portfolio sizing, how investors should think about physical metals versus mining equities after a sharp correction, what signs to watch for in private credit defaults and carry trade stress, and why David still believes this bull market is doing exactly what bull markets are supposed to do: shake people out before the next move higher. If you value real mining conversations without the usual noise, subscribe to the channel and share this with someone else who takes this market seriously. That support helps us keep bringing on guests like this and asking the questions that matter

0:00 Intro
0:54 Silver’s Crash in Context
6:55 Why Gold at $4,000 Still Makes Sense
13:22 The Private Credit Risk
23:38 What the Real Economy Feels Like
26:59 Why Japan Still Matters
30:06 When Black Swans Collide

David Morgan is a world-renown precious metals aficionado. He is the creator of TheMorganReport.com, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynamic, much-in-demand speaker all over the globe, David’s educational mission also makes him a prolific author, having penned Get the Skinny on Silver Investing, The Silver Manifesto and, most recently, Second Chance: How to Make and Keep Big Money from the Coming Gold and Silver Shock.

  debt crisis, gold, silver