Recorded on September 2nd, 2025, this condensed cut from Bert Dohmen’s full Kitco interview dives into the forces driving today’s market extremes, from algorithmic manipulation and record margin debt to fake economic data and a looming inflation shock.
Dohmen, editor of The Wellington Letter, argues that the same speculative excess seen before 1929 and 1987 is now repeating in a market dominated by high-frequency trading, leverage, and misplaced faith in government data. He also explains why the Fed’s next round of money printing could ignite a stagflationary crisis — and why gold and silver remain the last true safe havens.
Since this interview, gold has surged past $4,000/oz, and U.S. margin debt has hit fresh records, while China and India deepen cooperation on trade and resource policy (October 2025).
▶️ Watch the full interview with Bert Dohmen here:
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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22 Comments
Individual Investor Magazine used to recommend a ceiling P/E ratio of 14.
This is unbelievable important information.
I called gold at $5800/oz two years ago.
bring this guy more often. he seems to know his stuff. (but not with a delay ….of 25% in silver)
I'm not a algo
Dohmen must be Swiss, German or Austrian, these are honest people, straightforward.
India,China and Russia should develop an alternative to Microsoft, Oracle and Amazon. Ban these companies after developing similar products, this will bring Americans to their senses. But it is easier said than done, because at least leaders and capitalist of India are being bribed by Americans to keep sending workforce not products.
By design…Managed decline & wealth theft. Own nothing & be happy (World Economic Forum)
We are coming off the great reset & the biggest wealth transfer ever. Most ppl aren’t ready. Dollar will never come back (BRICS)
See Matthew chapter 24.
The end is here…Prepare mentally
UK Bullion by Post – Due to market volatility, silver trading has been suspended until markets open on Monday 13 October 2025.
Dispassionate traders avoid the temptation of getting caught up in cognitive distortions when trading. One of the common pitfalls in trading is to discount the positive or negative, and seeing trends in tunnel vision thinking, thereby potentially staying in trades when you should exit. This, though, can be explained by the phenomenon of feeling the pain of a loss, which is often something a trader can't countenance, and, therefore, won't trade out to a loss when the markets moves against him. Loss chasing, by doubling up, is not only an attempt to 'get even' but often is also an attempt to avoid emotional pain. To be a successful trader is to remain dispassionate which is hard in the long term.
I agree with everything Bert said. The valuations are ridiculous. Especially many of the Tech section. P/Es over 50 let alone 500 are completely nuts.
But traditional valuations does not count anymore……….tili the sh……t hits the fan.
Why do people buy stocks at 500 to 1 P to E ratio? Why not. They buy Bitcoin at essentially infinite P to E ratio, so by that measure, 500 to 1 is a bargain.
"silver is breaking $40.00"? oh really? lol $140. inbound
BRICS BACK BETTER Burt. Sick of our American hegemony.
Thanks J and Bert!
This is an old interview but still good information
Been selling since April crash as the rally lifted up shares again…waiting for the big crash coming
Well old fella, Cut off the food supply and you can't eat gold. Think about the real and not the money all the time.
I make money as a day trader. So yes, it's still possible to earn a living doing this. Right now I'm sitting in mostly cash and waiting for a major market indexes correction or crash 👍
İs there a crash ahead on monday?
He said right, brics nation if stop trading with usa, super inflation in usa is inevitable. Already they r getting rid of US bond
Confetti 🤑