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Everything Bubble About To Burst! We're Weeks Away | David Jensen

Liberty and Finance Jul 14, 2026

Summary

The diesel crack spread (refined fuel price minus crude futures) near $72 versus a normal $20 signals a real US diesel shortage.

With the Strategic Petroleum Reserve at its lowest since 1983 and near its floor, Jensen sees an oil price reset weeks away, possibly doubling prices.

Shanghai silver trading about 10-15% above London and New York keeps pulling physical metal to China, a spread Jensen sees as managed.

Jensen argues rate spikes from bond selling would unwind the everything bubble, pushing that capital into tiny gold and silver markets.

Late-stage currency declines bring sawtooth gold volatility — Weimar gold sometimes moved over 100% in a month — then end quickly, per Jensen.

Elijah K. Johnson's takeaways

  • Top takeaway As host, Johnson frames the interview around the Strategic Petroleum Reserve drawdown and the case that an energy shock will drive price inflation and interest rates higher.
  • He presses the guest with the bearish narrative that higher rates could hurt metals and notes gold just had one of its worst quarters in over a decade, while adding that currency endings tend to arrive suddenly with sawtooth commodity volatility as in Weimar Germany.

David Jensen's takeaways

  • Top takeaway The guest argues a reset of the oil price is weeks away, saying it is easy to see oil double within 6-8 weeks of the interview and that he has no problem seeing $150 oil in the October timeframe.
  • He expects the oil shock to feed into price inflation and spiking interest rates, sending bonds, stocks, and real estate much lower and rapidly unwinding the everything bubble built over four decades of loose central bank policy.
  • He argues many times more promises for metal delivery exist than physical metal in the vaults, calling this the end stage of the New York-London price-fixing system, with Shanghai's steady 10-15% silver premium and emerging backwardation signaling a move to physical price setting.
  • He cites about $270 trillion in global securitized assets against roughly $1 trillion or less of available physical gold and silver, arguing a small rotation out of bonds and stocks could drive metals prices much higher very quickly.
  • Drawing on 1920s Weimar Germany, he expects years of sawtooth gold volatility before a rapid weeks-to-months currency unwind, sees no dominant power in a fragmented world ahead, and flags the Japanese yen as a possible first currency crisis.