Sean Farris

Below is a typical Wall Street opinion on gold/silver. This is why most of the gold/silver miners are trading at 50% their fair value. 🙄

Have we ever had an ATH stock market with this much economic uncertainty? Answer: Nope. 🕰️🕰️🕰️

Mid-Week Macro The S&P continues to trend, closing today once again at an ATH (7444). This feels like we are approaching a top. The only question is when? My guess is soon, although I would not be surprised if we have to wait until Q4. One thing is clear: it is getting extremely toppy, with an S&P 500 forward PE of 22, the Buffett Indicator at 230%, and technology concentration at an extreme. The market is being carried by the AI trade, but the rest of the economy is struggling. Inflation, high gasoline/diesel prices, and high interest rates are all significant headwinds that the S&P is ignoring at the moment. Silver is having a good week, closing today at $87. Two weeks ago, it was in the low $70s. Silver remains 38% away from its ATH ($120). Gold and silver like a trending stock market, and they have been following it higher. Gold closed today at $4692, which is a healthy level for gold miner margins. Gold and the HUI are both 19% away from their ATHs. They will continue to follow the market higher, or falter if the S&P decides to correct. My stance has been that Iran will not give Trump the deal he wants to open the Strait. I only see two outcomes for the war in Iran: 1) It escalates with increased fighting to force the Strait open. 2) Trump walks away. I think Trump is going to walk. It’s really his only option. The longer he prolongs the war, the worse the outcome. The faster he walks, the quicker the economy returns to a sense of normalcy. If Trump walks, then everything heads higher: stocks, gold, silver, miners. If Trump escalates, then everything heads lower. So we wait. My guess is that the outcome is 50/50 that Trump walks or escalates. It could go either way. The good news for us is that gold wins in either scenario. The messier the better for gold, but Trump already created a geopolitical mess, and gold is going to embrace that mess. Got Gold?

This is a great proof of the fact that we are still early. #Miners

#Silver breaks $89. It’s not too late to sell bitcoin and buy silver. Bitcoin is down $2,000 this morning. Silver is superior to bitcoin in every way. It is the future. Bitcoin is the past. For those that agree, enjoy the Lambo! For those that don’t, have fun staying poor!

Equinox Gold to acquire Orla Mining in a merger of equals (2% implied premium). My reaction: I own both. I like it. This makes Equinox a juggernaut. They both print as 6-baggers on GSD at $7K gold. Combined, they could be a 10-bagger with their synergies -- if gold exceeds $7K. equinoxgold.com/wp-content/upl…

JUST IN: Business schools are slashing MBA tuition by as much as 50% due to falling demand.

great, someone to sell to, in two years

Fertilizer stocks will make silver miners blush.

$300-$500 silver within a few months? It can't be ruled out. Fantastic if it happens, considering our entry levels, but I'm continuing to rate it as a low probability 👇

Peter Schiff targets 2026: - $6000 gold - $100 silver

Silver is at $85 and the 1-month silver lease rate is ripping higher. I am still convinced silver hits new all-time highs this year. This market is so tight it is absurd.

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Your doctor's first move for high blood pressure is medication. But 71% of Americans on blood pressure meds still don't have it under control... Here are 7 tips to lower your blood pressure naturally (bookmark this): 🧵 1. Use sauna, hot tubs or hot baths

Every man should have a son trained like this.

By 2040 vehicles will be repaired by Robo-mechanics. Ai taking over most jobs.

"I see so many ghosts. They're already dead. They don't even know it." A 45-year Wall Street veteran just said that about the current generation of finance professionals to me. George Robertson started at Salomon Brothers in 1981 when bond yields were 14%. He's survived every blow-up from Long-Term Capital to 2008 to COVID. And he's convinced a massive reset is coming that will produce RUIN for people who don't see it. I just interviewed him, and let me walk you through the one thing most people in this space fail to understand: The stock market has effectively become a single instrument. Every major quant fund is staffed by the same MIT graduates running the same models through the same filters arriving at the same conclusions. There are maybe 4 or 5 ideas being expressed across the entire systematic trading universe at any given time. The diversity that makes markets function as a price discovery mechanism is GONE. Jane Street just reported $16.1 billion in trading revenue in a SINGLE QUARTER. One firm. 3,500 employees. More trading revenue than JPMorgan or Goldman Sachs. Full year 2025 was $39.6 billion. Lever that capital 10 to 1 across all the major quant players and you're looking at trillions in gross exposure approaching the monthly GDP of the United States. Until something overwhelms that kind of firepower, these firms effectively dictate market behavior. The rest of us are passengers. And that's why markets look so deceptively calm right now. Tight ranges, suppressed volatility, weeks and months where nothing seems to move. But the calm IS the danger. All the mispricing that should be correcting incrementally through normal price discovery is instead building up like pressure in a sealed system. And when it finally releases, it won't be a normal correction where you have weeks to adjust your positioning... It will be years of stored mispricing detonating in DAYS. We've seen the same thing before: In the 1990s, Long-Term Capital Management was so dominant in fixed income that it killed price discovery across the entire asset class. Danish mortgages, basis trades, risk arbitrage, nothing functioned properly while LTCM existed. Normal pricing only returned after they literally collapsed. Now apply that dynamic to the ENTIRE equity market. And the agencies that were supposed to protect investors from exactly this kind of concentration have been gutted. Sherman Act enforcement is effectively dead. The AI industry operates as an informal trust, 3 or 4 companies integrated vertically and horizontally in ways we haven't seen since Carnegie and Rockefeller. Trevor Milton rolled a truck down a hill, called it technology, and got pardoned. Crime pays. So who stops the next guy? Meanwhile capital markets have grown to roughly 4x GDP. When I started in this business they were roughly the SAME size. So when the repricing comes, the damage to the real economy will be multiples of anything we've experienced. Nobody has a clean answer for what to do about this. Not me. Not Robertson. Not anyone being honest with you. But after 45 years doing this myself I know this much: The correction WILL come. Price discovery WILL return. The only question is whether you survive it or whether you're one of the ghosts who never saw it coming.

The same people who used to comment "Silver is useless, it will never get to $50" on my Youtube channel when it was at $30, are now commenting, "Silver is dead, game over, it will never get back to triple-digits." Ignore the noise, we are in a secular bull market.

Silver BREAKOUT ALERT: (a) Silver has broken its series of lower-peaks and lower-lows. (b) Silver has also broken all downward trends from the recent peak. Prepare for it now, because it appears silver will be back at all-time highs later this year. FREE PODCAST with deeper analysis here ⤵️ youtu.be/y5vmbNCuFuM

China silver imports unexpectedly go through the roof: Beijing imported 528 tonnes of silver in March, the most on record