Soar Financial's Kai Hoffman likes to ask me about the macro, so this interview gets more into the "why" of what I'm speculating on now—and what I'm not—than the others I've done here at the Rule symposium.

Timastamps:

00:00 — Introduction
00:45 — Is the geopolitical risk fading?
02:30 — Inflation, the Fed, and gold
05:00 — Is this another 2011-style correction?
07:45 — Why $4,000 gold matters
10:00 — Where is investment money going?
12:45 — Who is buying gold?
15:20 — Gold vs mining stocks
18:35 — The future of the U.S. dollar
21:05 — Can miners still raise capital?
24:25 — Lobo reveals what he’s buying now