This new interview with Soar Financial's Kai Hoffmann is not for those who can't even consider the possibility that the market might have turned against them. Well, actually, it's precisely such people who most need to hear my challenge to their thinking, but are least likely to get the message. I'm already taking heat for the very thing I did not do: call a top in gold and silver. But there's little I can do for those who hear only their interpretations of my words, and not what I actually say. For everyone else, this interview may be helpful, if only as a balance against the constant cheerleading from perma-bulls.

Timestamps (AI-generated):

00:00 — Intro
01:39 — Stagflation, Inflation & Gold
03:21 — Why Gold Reacts to Oil Shocks
06:20 — Is Gold Leading Inflation Again?
07:26 — Why Miners Can Survive a Gold Drop
09:58 — Are We Still in a Gold Bull Market?
10:48 — Is This Like 2011 or 1980?
12:34 — Why Lobo Took Profits
14:07 — Energy Costs & Miner Margins
16:12 — Why Mining Costs Catch Up
18:13 — “Crap Is Crap” in Mining
21:19 — Can Miners Make Money at $4,500 Gold?
22:51 — Are Generalists Coming Back to Gold?
24:27 — Why Miners Could Still Print Cash
27:23 — Producers, Developers or Explorers?
28:13 — Lobo’s Next Big Buying Opportunity
30:20 — Uranium, Oil & Final Thoughts