World War For Resources Has Started | Greg Weldon

Liberty and Finance Feb 7, 2026

Summary

The guest frames gold's run as China dumping US treasuries and de-dollarizing reserves rather than inflation expectations.

He tags the $4,000-$4,500 zone as gold's next major buy area and $62-$74 as the key silver support band.

He calls the US dollar's secular decline 'just beginning,' arguing a weaker dollar extends the precious metals bull market.

The guest warns of a US equity selloff, noting revolving credit has only declined year-over-year before two prior recessions.

He flags AI-driven labor displacement as a new risk to US consumer health and corporate earnings.

Weldon groups AngloGold Ashanti with Newmont and Barrick as the three big major gold miners that outperformed mid-year, using them as evidence that Wall Street money was rotating from the AI leaders into precious-metals mining shares via the largest, most defensible names.

Weldon pairs Barrick with Newmont and AngloGold as one of the three big major gold miners that outperformed mid-year, a signal he reads as institutional rotation into precious-metals mining — the stocks a manager can justify to the boss as the biggest-name way to play the sector.

Weldon cites Newmont — alongside AngloGold and Barrick — outperforming mid-year as the tell that Wall Street was rotating into precious-metals mining shares.
He calls Newmont the benchmark of the sector, the default biggest-name gold miner institutions buy first when entering the space.

Top takeaway Weldon frames the precious-metals rally as a three-phase move — China dumping US Treasuries and taking physical gold, mid-year outperformance of the major gold miners, and a just-starting US-dollar decline — and argues that if the dollar is beginning a secular decline, gold will pull back in an ABC correction that becomes the next buy point.
He pegs the $4,000–$4,500 zone (around $4,465 and $3,990) as the key Fibonacci/psychological buy area for gold, argues against averaging down, and says he would only step in at those predefined levels.
On silver, Weldon treats the $71–$74 zone as critical support — a 50% retracement and round-number psychological level — with $62 and $54 as deeper supports he does not expect to break, and calls mid-$60s a back-the-truck-up accumulation moment.
He argues silver's fourth consecutive supply/demand deficit, its new strategic-metal status in the US and China, and the dollar-debasement trade mean sub-$30 prices are extremely unlikely long term, with $50–$54 the realistic floor.
On equities, Weldon says the S&P infotech complex lost momentum in mid-December, consumer health looks like 2008 or 2020 on revolving-credit deflation and credit-card delinquencies, and retail/infotech indicators suggest ~30% downside in the S&P — though he still expects stocks higher over the long term as the dollar falls.

Top takeaway As host, Johnson frames the conversation around three investor questions — whether $50 is now support in silver, where the next precious-metals buy point sits, and how much downside risk the stock market carries — and presses Weldon on whether silver could revisit sub-$30 levels given the 2011 peak and 2020 low.