Liberty and Finance's Elijah Johnson called me to talk about the December FOMC decision and the implications of this new, more "hawkish" Fed for gold and silver. That took us to inflation, of course, and my base case for stagflation, with the possibility of a reflationary boom also shaping up in the wings. The latest data muddles the picture, but I remain in the stagflation camp. We also talked about uranium, mostly because I do see buying opportunities in that space right now.