Recorded on February 25 2026
In this interview, Keith Weiner of Monetary Metals breaks down why gold keeps reasserting itself as money when confidence in policy and payment rails gets tested. The conversation starts with a blunt point most investors miss: in true settlement, gold can eliminate trust requirements, and that changes how you think about monetary competition. Keith challenges popular narratives around scarcity and value, then pivots into the mechanics of currencies, reserves, and why the dollar can remain dominant even as the world trends toward de fiatization. Steve and Keith map the BRICS discussion to real world constraints, including why stacking second tier currencies does not automatically create a rival to the dollar. The second half gets practical with how gold leasing and credit structures can produce yield paid in metal, and what that means for investors who want exposure beyond price speculation. If you care about gold, Bitcoin, and where macro incentives are pushing money next, this is a deep, framework driven conversation. #Millettian
Key topics
Why gold is used for settlement when trust breaks down
Scarcity stories vs what actually creates value
Dollar dominance vs de fiatization and currency competition
BRICS, Russia, China, and payment reality
Why money should be boring and stable
Yield on gold through leasing and credit programs
What a 2026 outlook means beneath the headlines
Guest links
https://www.monetary-metals.com/
Monetary Metals wants to offer our listeners at Natural Resource Stocks their 2026 Gold Outlook Report at no cost: https://buff.ly/VVoSKxP
Host Steve Yang Natural Resource Stocks
Website https://www.NaturalResourceStocks.net
YouTube Main https://www.youtube.com/@naturalresourcestocks
YouTube Clips https://www.youtube.com/@NaturalResoureStocksClips
X https://x.com/TheSteveYang
X https://x.com/SteveYangStocks
LinkedIn https://www.linkedin.com/in/thesteveyang/
LinkedIn https://www.linkedin.com/in/steveyangstocks/
Chapters
00:00 Gold does not require trust
00:22 Taxing gold and fiat losses
00:29 Scarcity myths and Bitcoin framing
00:59 Money should be boring and stable
01:27 Why settlement pulls back to gold
03:39 Gold standard and interest rates
05:59 Reserve currencies and Bretton Woods logic
08:09 BRICS, Russia, China, settlement constraints
10:16 Inflation and currency competition
12:03 De fiatization and the dollar remains king
21:40 Bitcoin as speculation vs money
25:10 Fed, rates, bond market signals
35:39 Earning yield on gold and how leasing works
44:22 Closing and free report reminder
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