Recorded on July 24 2026 at NRS Studios
Keith Weiner joins Steve Yang for a wide-ranging discussion about gold, money, credit, interest rates, and the changing global monetary system. Keith explains why short-term pressure on gold can come from dollar liquidity needs, margin calls, energy-market dislocations, and shifting trader psychology even when the longer-term monetary case remains intact. He examines central-bank demand, reported gold holdings, the cultural divide between gold ownership in India and the United States, capital controls, import restrictions, and the loss of purchasing power in paper currencies. The conversation also covers the history of gold confiscation, Federal Reserve policy, corporate zombie debt, and why rising interest costs can destabilize heavily indebted companies. Keith then explains his definition of gold as money, why he views the dollar as credit, and how gold holders can potentially earn a yield without selling their metal. The interview closes with storage costs, liquidity, physical redemption, retirement-account considerations, and how to identify Keith’s official online profiles.
KEY TOPICS
Gold’s pullback and the larger monetary cycle
Dollar liquidity, margin calls, and forced selling
Central-bank gold demand and reported holdings
Gold ownership in India, Turkey, China, and the United States
Capital controls and restrictions on gold imports
The history of gold confiscation
Federal Reserve policy and corporate zombie debt
Gold as money versus the dollar as credit
Gold yield, leasing, storage, and physical redemption
Retirement-account considerations and online impersonators
KEITH WEINER
Website https://www.monetary-metals.com/
X https://x.com/RealKeithWeiner
LinkedIn https://www.linkedin.com/in/weinerkeith/
HOST STEVE YANG
Natural Resource Stocks https://www.NaturalResourceStocks.net
YouTube https://www.youtube.com/@naturalresourcestocks
X https://x.com/JustSteveYang
NRS LinkedIn https://www.linkedin.com/company/naturalresourcestocks-net/
NRS Facebook https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/
NRS TikTok https://www.tiktok.com/@natural.resource.stocks
NRS Instagram https://www.instagram.com/naturalresourcestocks/
CHAPTERS
00:00 Gold without selling
01:00 Introduction
01:38 What changed in gold
04:19 Dollar liquidity and margin calls
08:38 Central-bank bids
10:33 China and reported gold data
14:01 Gold ownership in India and America
18:48 Import controls in Turkey and India
24:01 Could gold be confiscated again
28:02 Gold ownership and investor behavior
30:09 Why gold yield appeals
32:50 Trust, inflation, and alternatives
35:06 Federal Reserve policy and rates
37:05 Corporate zombie debt
39:22 How gold yield works
43:13 Is gold still money
47:44 Liquidity and bank deposits
48:54 Yield, selling, and redemption
51:37 Retirement accounts and official profiles
53:20 Closing
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