Recorded on October 14, 2025. #Millettian
Gold is printing fresh record highs above $4,000 while silver whipsaws around $52 — and Peter Schiff thinks market structure tells the real story. He explains why spot/futures dynamics in silver suggest urgent physical demand, how short sellers could face forced delivery, and why he believes we’re reliving the 1970s “on steroids.”
About today’s guest: Peter Schiff is an investor and commentator, founder of Euro Pacific Asset Management (Europac) and SchiffGold.
What we cover:
- Gold at $4,000, silver $50 — price action and drivers
- Silver backwardation and delivery risk
- Portfolio shifts from 60/40 to 60/20/20
- “1970s on steroids”: inflation & de-dollarization
- Dow/Gold ratio and real money lens
- Gold miners — majors vs juniors and where value remains
Chapters
00:00 Intro — gold $4k, silver $52
01:38 Silver backwardation explained
03:20 Are shorts losing control?
08:20 From 60/40 to 60/20/20
10:50 “1970s on steroids”
15:01 Dow/Gold and real value
17:25 Miners and valuations
21:11 Guest resources
Guest Links
- Euro Pacific Asset Management — europac.com
- SchiffGold — schiffgold.com
Host & Channel Links
Natural Resource Stocks — Official Channel
🌐 Website: https://www.NaturalResourceStocks.net
📺 YouTube: https://www.youtube.com/@NaturalResourceStocks
🐦 X (Twitter): https://twitter.com/NRS_Stocks
💼 LinkedIn: https://www.linkedin.com/company/natural-resource-stocks
Andy Millette – Host
🌐 Website: https://www.NaturalResourceStocks.net
🐦 X (Twitter): https://twitter.com/AndyMillette
💼 LinkedIn: https://www.linkedin.com/in/andymillette/
Steve Yang – Co-Host
🐦 X (Twitter): https://twitter.com/SteveYang_Market
💼 LinkedIn: https://www.linkedin.com/in/steveyang88/
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