Podcast Summary

Rebel News Podcast – Real Money Show (Jan 10, 2026)

Episode: Why Silver’s Next Move Could Redefine Money, Markets, and National Security
Hosts: Jeremy Wiseman & Jerry Karia

Overview:

This episode explores the dramatic shift underway in the silver market, outlining why unprecedented demand, changed supply dynamics, and the unwinding of long-standing financial structures—like the “paper” silver market and the yen carry trade—may set the stage for a profound revaluation of silver (and gold). The discussion covers industrial and national security drivers, the critical minerals designation in the US, major price forecasts, historic context, and practical investing advice.

Key Discussion Points & Insights

1. 2025 Performance Recap & Market Setting

• Historic Gains:
  • Silver was up over 160% in 2025, gold up 66%.
  • "You may not want to sell just yet." (Jeremy, 00:16)
• Supply Deficit:
  • Five-year ongoing deficit in physical silver supply vs. demand.
  • New US manufacturing superpower will absorb even more silver.
• Quote:
  • "Basically right now, Jerry, we're seeing two things happening at once... a convergence of two major things in the market specifically related to the silver market." (Jeremy, 00:17)

2. Industrial vs. Monetary Demand (“Converging Forces”)

• Industrial Demand:
  • US building factories, driving greater silver needs on top of Asia’s consumption.
• Definancialization:
  • Physical silver now prevails over paper contracts—sovereign wealth funds & nations demanding physical delivery.
  • Whistleblower Andrew McGuire’s principle: "The tail can't wag the dog anymore..." (Jeremy, 01:32)

3. Price Suppression & Discovery

• Historical Suppression:
  • Systemic 50-year silver price suppression; similar story for gold post-gold standard.
  • Governments “robbed” public via inflation after stripping gold ownership.
  • "You call it 2% when it's probably more like 6 and you're robbing people without them really knowing." (Jeremy, 02:37)
• Current Price Discovery:
  • “This is the most exciting story... a new price discovery.” (Jerry, 03:19)
  • Shift from London/financial to physical market pricing.

4. The Unwinding of the Yen Carry Trade and Its Impact

• What is the Yen Carry Trade?

  • For decades, Japan offered negative interest rates, fueling global bubbles in stocks, real estate, and commodities.
  • Now Japan is raising rates, triggering global volatility, margin calls, and a scramble for genuine collateral.

• Implications:

  • The collapse of the carry trade accelerates the move from derivatives/paper to tangible, physical assets like silver and gold.
  • “Derivatives are the... financial weapons of mass destruction.” (Quoting Warren Buffett, Jerry, 16:23)

5. Supply Crunch & National Security

• Silver Declared “Critical Mineral” in the US:
  • Means US government must stockpile, regardless of price.
  • Implications for defense, advanced manufacturing, and especially AI.
• Recent Geopolitical Moves:
  • US military action in Venezuela, coinciding with US securing a silver smelter deal.
  • China halts silver exports – direct challenge to US security.
  • "It was a tit for tat." (Jerry, 09:08)

6. Return to Mercantilism (vs. Financialization)

• Resource Nations Seeking Control:
  • More nations demanding a share in their own commodity extraction value chains.
  • Example: “Confessions of an Economic Hitman” book reference.
• BRICS Corridor:
  • Enables countries to collateralize their own gold/silver rather than be tied to IMF loans.
  • “You can now use the resources that you were blessed with and put them into the vault and get a loan off of your own resources.” (Jerry, 13:18)

7. Forecasts: How High Could Silver Go?

a) Bank of America / Michael Widmer

• Silver could peak between $135 to $309 per ounce, driven by mean reversion in the gold/silver ratio (historically 16:1).
• “He's saying, look, if silver reverts to the mean... you would see $300 an ounce silver.” (Jeremy, 05:25)

b) Price vs. Value Concepts

• Focus is on what silver (and gold) can buy rather than absolute price.
• “Gold and silver become the measuring tool.” (Jeremy, 06:10)
• Physical shortages at $75/oz; retail decimated. "Shortages abound." (Jeremy, 07:09)

c) Michael Oliver

• Predicted $70/oz silver in mid-2025; was viewed as “crazy” but proved right.
• New target: $144 within 55 months, possibly $300-500/oz within 6 months if momentum breaks out.
• “Michael says 100 to 150 to $200 is not a problem... it has to go there for a minute.” (Jerry, 24:14)

8. What Is Money? Re-Monetizing Silver

• Money’s definition (per Aristotle): portable, divisible, durable, scarce, recognizable, store of value.
• More buyers—including sovereigns and major corporations—are demanding actual silver, treating it as money and collateral again.
• “Silver stepping back into the monetary, re-monetization, not just in industries.” (Jerry, 04:05)

9. Practical Investment Guidance

• If you haven't yet, it’s not too late to buy: “You haven’t missed the boat at all.” (Jerry, 22:55)
• Valuing wealth in ounces, not fiat currencies, is more sensible as currencies are debased.
• Physical ownership through Guildhall offers:
  • Direct purchase and storage at Brinks (with full audit, no counterparty risk)
  • Holding in registered Canadian accounts (RRSP, TFSA, LIRA, etc.)
  • "It's fully secured, insured, and you can buy and sell on a phone call.” (Jeremy, 26:21)

Notable Quotes & Moments (With Timestamps)

• On Industrial & Monetary Demand Converging:

  • “You have two things happening at once... a convergence of two major things in the market specifically related to the silver market.” (Jeremy, 00:17)

• On Definancialization:

  • “The tail can't wag the dog anymore because you have sovereign wealth funds and nations going in and saying, I’ll take delivery.” (Jeremy, 01:32)

• On Price Discovery & Scarcity:

  • “We're getting price discovery in the silver market and people aren't sure what that actually looks like.” (Jeremy, 02:59)

• On US National Security & Silver:

  • “Silver being included in the critical minerals list... means that it is not just a national security issue, but they have to hoard it and stockpile it regardless of price.” (Jerry, 07:37)
  • “It was a tit for tat. As soon as they got into Venezuela they inked this deal... backed 40% by the Department of Defense and the Department of War.” (Jerry, 09:08)

• On BRICS and Monetization:

  • “Countries that were once subservient to IMF loans in Africa, you would never be able to pay off these debts. Now ... you can now use the resources that you were blessed with and put them into the vault and get a loan off of your own resources.” (Jerry, 13:18)

• On What Investors Should Focus On:

  • “You want to value your wealth right now in ounces because those currencies are being destroyed.” (Jerry, 22:58)
  • “People will at some point sell 2/3, 3/4 of their metals and still always want to hold some physical.” (Jeremy, 26:03)

Important Segment Timestamps

• [00:16] – Last year’s incredible silver/gold performance, market overview
• [01:32] – Definancialization of silver & physical delivery pressure
• [05:05] – Price forecasts, BofA’s $135-$309/oz projection
• [07:37] – Silver as a critical mineral, US stockpiling
• [08:58] – Venezuela, China’s export halt, US smelter deal for national security
• [13:18] – BRICS, end of dollar dominance, commodity-based loans and collateral
• [15:44] – Yen carry trade unwind explained
• [20:27] – Only paper gold/silver being sold off—physical remains coveted
• [24:14] – Michael Oliver’s high-end forecast: $144-500 silver
• [26:21] – Guildhall’s physical precious metals storage/account options
• [27:50] – Final investment encouragement and closing remarks

Conclusion

The episode casts silver as at the center of an historic financial shift—where real, physical assets are regaining their role as true stores of value and as crucial national security resources. Sovereigns and big industry are scrambling for physical supply. Geopolitics, supply crunch, industrial applications (esp. AI), and financial system overhaul are converging to potentially send prices much higher. Listeners are encouraged to reconsider silver’s role in their portfolios and to “value your wealth in ounces,” not in fiat currency, to outpace financial disruption and inflation.

For more detailed information or to invest directly in physical precious metals, listeners are pointed to Guildhall’s services and encouraged to reach out for further discussion and materials.