Gold and Silver Rebound Sharply as U.S. Announces $12 Billion Critical Minerals Stockpile.

Uh, President Trump has realized that

and uh, he's been signing executive

orders ever since he took power last

year to do with uh, critical minerals,

to do with uh, mining and all of that.

The world is turning away

slowly but surely from financialization

into hard assets. Tuesday, February 3rd,

2026.

Mano 64, home of alternative economics

and contrarian views. Well, today uh

we're going to talk about physical

supply because uh that's the underlying

reason why silver has done so well

in the last 12 months or 13 months. And

uh yes, the volatility we've seen uh not

just in gold, but especially in silver

uh these last few days uh was just that

volatility, a lot of noise, a lot of uh

big players trying to uh defend their

positions in the paper market. Yes. Uh I

was reading uh someone noted that the

volume uh the other day was so huge that

it corresponded uh to like uh two times

the the production of silver in one

year, right? Uh and how do they do that?

Well, the the contract size for the

futures is 5,000 ounces. So you you can

uh trade as much as you want, especially

if you have deep pockets like the

bullion banks. But uh

we're going to look at a very important

announcement uh from uh the Trump

administration, from the White House, uh

to do with critical minerals because

while unfortunately a lot of people

probably got shake shaken off their uh

silver and gold positions these last few

days, especially people who have used

leverage to uh actually not buy real

gold and silver but to uh buy

instruments like ETFs, like futures,

like options. Yes. Um I really think

it's a silly thing to do in in this uh

massive bull market in gold and silver.

We're just beginning. Um, and I'm going

to show you some charts that long-term

charts that will will show you that,

yeah, we're in the beginning. And as

Jesse Livermore once said, the greatest

arguably the greatest uh trader ever uh

he said, "Be right and sit tight." He

also said that the best trades and uh by

trade I mean it can be a very long-term

trade. It's not like a day trade but he

said that the best trades are not uh

like uh taken on by the smartest or

cleverest people. Uh they're taken on by

the most patient. And I think uh that's

still paramount in in this precious

metals uh bull market. Um so we're going

to look at that some charts. Uh we're

going to look at what gold and silver

are doing this morning. Here it's a4 to

8:00 a.m. London time.

Uh but before I do, I'd like to thank

all of you for your interest in the

channel, for your kind words. Uh yes, I

try to read the comment section once in

a while. Uh and I'll keep trying. Uh but

uh I might not reply to your comments,

but I see a lot of them. My wife as well

reads a lot of them and she tells me

what they're saying. Um and um I also

recommend that you watch my uh well

participate in the live streams that I I

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Time in the US. Uh there I try to answer

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though the LA last live stream was uh

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once watching it and it was tough to

keep up uh ws.

Um yeah, thank you so much. For those of

you who do enjoy the channel and haven't

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particular video, uh, make sure you hit

the like button. So, anyway, uh, back to

Gold and Silver. And, um, I've noticed

that the, uh, FT, uh, is come out with

a, a silly article about silver. Uh, and

I'm not even going to read, well, I kind

of read it through, but they're saying

that it was the retail crowd that

created the the massive move in the

silver price. But for those of us who've

been following what's been going on in

silver with supply

with all the silver that's been taken

out of the vaults of ComX, Shanghai,

LBMA, we all know that this is much more

than just retail and uh they're trying

to paint a picture that this is over and

uh yeah, let them do that. Um because

they they did the same thing in 2004.

They said that u gold was finished that

it was pointless to hold it. Yes, that's

an editorial from them from then in 2004

when gold was at $400 an ounce. So

read the FT, read the Wall Street

Journal, read Bloomberg at your own

peril. Yeah. Uh and I noticed though

that yes, the bullion banks were heavily

involved in u the attack paper attack on

silver and gold in the last few days,

but uh I see that JP Morgan is still

calling for like $6,000 or $65,000 gold

before the end of this this year. And I

think they're going to be uh wrong in

that. Uh they're going to be too

conservative on their price target.

Uh and uh yes, more importantly

and we've been telling you guys this uh

here on the channel and also other

people in the uh precious metals uh

like space, sound money space, the

alternative space, the conspiracy theory

uh space, right?

uh that uh yeah there there's a war for

commodities now and uh we covered that

here on the channel like almost four

years ago because there's a guy actually

uh from within

the mainstream who worked for the New

York Fed who worked for a credit su

Zultan Posar very uh clever analyst who

was telling us that uh with bricks with

the world breaking up, with the war in

the Ukraine, uh commodities are going to

become a hot item and commodities of

course are really important as well as

we're starting to see the critical

minerals, the rare earths for the yeah

the technologies that are coming, not

just AI but electrification and all

that. uh you need uh these uh rare

minerals uh rare earths whatever you

want to call it and for the past 30

years or so with globalization the west

has dropped the ball they've allowed

China to really uh be uh the dominant

force not just in uh producing these um

rare earths but also processing them

into the finished goods but so now Uh

the US has realized that uh President

Trump has realized that and uh he's been

signing executive orders ever since he

took power last year to do with uh

critical minerals to do with uh mining

and all of that. The world is turning

away

slowly but surely from financialization

into hard assets. So uh this was

announced uh

here it is announced yesterday

US to launch a 12 billion critical

minerals stockpile to counter China's

dominance. There you go China's

dominance. US export import bank will

provide 10 billion in debt financing for

effort named project vault.

Um yes uh

they uh mention here

all the metals like copper

uh what else? Copper uh rare earths

lithium and so on. They don't mention

silver, but if you go back to this

article uh on November 6,

it says US add silver and copper to

critical minerals list. Yes. Why don't

they ever mention silver that much?

Well, because silver is uh really

important strategic metal and it's

becoming a monetary metal as well. So,

uh there you go. Uh,

a lot of people

got out of their uh, gold and silver

probably in the last few days and uh,

uh, maybe the miners even

even though President Trump is going to

provide financing the export import bank

for mining and uh, it it's hard when the

market is volatile, people get out and

then the market rebounds. so quickly

that it's difficult to get back in. So,

as I said earlier, uh be right and sit

tight. Yeah, there are people who say,

"Oh, you have to hedge uh your

portfolio." No, that's for

professionals.

That that's what hedge funds do. We as

small investors, we just do our

homework, do our research and decide

what we want to do and do it and uh sit

tight and uh get get through, you know,

these uh ups and downs uh without being

shaken off. If anything, we add we add

on if possible when we see these

shakeouts.

But uh yeah, what else uh did I want to

say? Yes,

we're going to look at some charts now

to show you uh a quarterly chart uh of

gold going back um well to when it was

fixed at 35 all the way back to the 40s.

uh uh and uh you can see here that uh

the breakout we had back in uh yeah it's

really was

really in January of last year we broke

out this trend line that I have here and

uh it it's taken off since then. Yes. Uh

the uh correction we've seen recently

doesn't even show on the chart. And uh

if you look at the uh bull market from

2001 to 2011,

uh that was a much longer uh bull market

than uh the mar the bull market we've

had so far after the break of this line.

And look at the bull market in the 70s.

Um so what I'm trying to say is we're

just in the beginning. So, let's move

over to silver. Silver is the same

thing. Silver is just taken off a little

later than gold. Uh, it's traded

differently, of course. It's been

suppressed for a lot longer. Yeah. But

here's the quarterly chart. Uh, yes,

there's a still a lot of room for for

silver to

uh yeah, for that chart to look a little

more bullish, but it's still bullish.

And um if you look at what it did in the

70s

and the breakout that we have now, we're

still only in the beginning. We could go

to a lot higher levels uh in in silver.

And yes, a lot of people are going to

come lately. They're going to be shaken

off. They'll never get into silver

again. And uh but you you will be like

holding like a like a rock. That's what

we need to be. We need to be like the

rock of Gibralar and let the market uh

yeah the waves hit us and not react. The

waves of course uh is the volatility. Uh

what else have we got? Yes, I I wanted

to show this chart as well. I've been

looking at this because even though the

silver miners have done well, they've

underperformed

the uh the bullion. And uh if you look

at SIL,

which is a

silver miner ETF versus silver, uh we're

at very low levels. And recently we we

hit the lowest level

uh ever since this uh ETF has been

published. Yes. Uh that was uh

January 26, so about a week ago. And

even Tavi Costa

who uh I will have on the channel, he he

uh noticed this as well and he posted

this about this ratio. Let's look at

where the markets are then. Uh it's 8:00

a.m.

uh London time. So we've got gold

actually up $256.

Yes, it's at 4915. The high's been 4934.

I I guess 5,000 really is the key now.

If we can get back above uh that level,

we'll have to wait and see. There's

still a lot of water to go under the

bridge today. The US markets haven't

really opened yet. Um silver is at

86.50.

It's up uh $7 almost 10%. I wonder if

they going to use the circuit breakers

to stop silver trading if it goes up

more than 10%. They probably will. While

the highs been 87

and the rest of the markets actually are

are very quiet. So like the the stock

market indices aren't really doing much

and also the currencies uh they're a

little stronger versus the dollar, but

not much uh to write home about. Anyway,

uh, yes, with that, I'm going to wish

you all a very good day. Take care. Bye.