As the new year takes further shape, major events merely—but powerfully—confirm existing trends. The world economy is changing in fundamental ways. Civilization states are firming up their physical and political constitutions—defining their areas of influence and strengthening control of those areas.
The new “Donroe Doctrine,” which re-establishes the US’s dominance in the Western Hemisphere, particularly the Americas (this time all of the Americas, including Greenland) appears ready to cede at least some control of other parts of the world to the powers that dominate them. How far this process will be allowed to develop remains to be seen.
But this process, even as it already exists, is a strong driver for commodities. As globalism recedes, each major power must reengage in at least some level of internal manufacturing and create or choose a new national (and nationally retained) reserve currency. No fiat currency is strong enough to supplant the dollar, and the clear preference for central banks worldwide has been or is rapidly becoming gold. This fact has launched the ongoing bull market in gold. However, investor sentiment, at least in America, has yet to fully embrace it. This means its best days are likely yet to come.
For incisive analysis of this trend, along with insights on how it’s likely to play out, be sure to read or listen to the publications below. Doing so could mean the difference between riding this bull to a golden trophy or being dumped unceremoniously on your head before the buzzer sounds.
Key Takeaways:
- Maduro’s out; what’s next?
- Even global competitors agree that the petrodollar’s days are numbered
- The metals have room to run
The McAlvany Weekly Commentary: Trump To Maduro: “You’re Fired”!
David and Kevin frame this wide‑ranging Weekly Commentary as a blunt reassessment of power, resources, and markets in the wake of the U.S. move against Venezuela’s Maduro,. The core argument is energy: Venezuela holds the world’s largest proven oil reserves, yet collapsed production through decades of socialist mismanagement, opening the door for what David characterizes as an explicit U.S. play to control oil flows, blunt China’s influence in the Caribbean, and reassert Monroe‑Doctrine–style leverage. From there, the discussion fans outward—how oil underpins Venezuela’s economy, how contract rights and foreign investment could revive it, and how the episode accelerates deglobalization, hardening geopolitical blocs and pushing nations to seek autonomy from the dollar. Markets follow geopolitics: David reviews 2025’s surprising underperformance of U.S. equities versus foreign markets, a weak dollar, and a banner year for commodities—especially gold and silver—driven by central‑bank demand and inflation pressures tied to soaring global debt. Bitcoin gets a tongue-in-cheek nod as “digital gold” because of its risk‑asset behavior. The takeaway, delivered with a light but cautionary touch, is that real assets, geopolitics, and inflation are no longer side shows—they’re the main act.
Hard Asset Insights: New Opportunities in a New World
Morgan lays out a clear, conviction‑driven case that the global investment landscape has crossed a historic threshold, moving from paper promises to physical reality. Bolstering his argument with the unexpected concurrence in Vladimir Putin’s 2022 remarks about reserves shifting from currencies into real resources, Morgan argues that de‑dollarization is no longer theoretical—it is actively reshaping markets. Central banks, he notes, are now holding more gold than U.S. Treasuries for the first time in three decades, while investors are rotating capital out of the S&P 500 and into hard assets such as gold, silver, copper, and the companies that mine them. A major accelerant, in Morgan’s view, is the U.S. move in Venezuela, which effectively secured the world’s largest oil reserves and, in the process, confiscated real assets previously financed by Chinese dollar reserves—echoing the 2022 seizure of Russian FX reserves. This reinforces incentives for nations to store wealth in neutral, domestically held assets, with gold increasingly serving as the preferred settlement currency in global trade. Morgan rounds out the commentary with a snapshot of strong weekly performance across precious metals and miners, concluding that while most investors still underestimate the shift underway, hard assets represent the defining opportunity in this “new world.”
Golden Rule Radio: Metals Roar into the New Year
The hosts open the discussion by noting that precious metals didn’t just tiptoe into 2026—they kicked the door down. Gold jumped roughly 4% to near its all‑time high, silver surged almost 13% and flirted with record territory, while platinum and palladium posted strong double‑digit gains, all reinforcing the idea that this is not a one‑week wonder but part of a powerful, multi‑year trend. They zoom out to show just how extraordinary recent performance has been, with 2025 delivering triple‑digit gains in several metals and the prior four years already laying a solid foundation. Looking ahead, the hosts frame 2026 as a potential “go‑go” economic year, with falling energy prices and anticipated Fed rate cuts boosting growth—but simultaneously weakening the dollar and favoring metals, especially silver and other “white metals.” A major theme is the growing divide between paper markets and physical reality, highlighted by supply constraints, CME margin hikes, and rising industrial and sovereign demand for real metal. Relative valuations also feature prominently: by ratios to silver, oil, and equities, gold may actually be cheap. The episode closes on accelerating central‑bank gold accumulation and a clear message—hard assets are moving from the sidelines to center stage.
