“The valuation of the Nasdaq Composite… as a factor of GDP is at the highest ever. The highest valuation of stocks in history,” warns Bert Dohmen, founder of Dohmen Capital Research and publisher of the Wellington Letter. In this interview, he calls it “the most risky time in the markets and geopolitics,” pointing to unprecedented speculation fueled by Fed-driven liquidity. Dohmen cautions against complacency: “Speculation is insane as we have seldom seen it. Margin debt on the New York Stock Exchange is now over $1 trillion… imagine when the margin calls go out and Wall Street starts foreclosing houses.” Drawing from his decades of experience, Dohmen highlights his theory of credit and liquidity: “All you have to know to see if the market is going to go up or down—you look at the trend of liquidity and credit. When they’re contracting, the stock market will go down. When they’re expanding, the stock market goes up.” When asked where investors can still find safety, Dohmen doesn’t hesitate: “The one sector that we like and have been in is gold and silver, because they will retain their purchasing power.”
Chapters:
00:00 – Why this is the riskiest time in the market
03:20 – Margin calls explained
06:16 – Issues with private equity
07:19 – Major red flags to watch
09:01 – Assets that Bert favors
10:28 – Bitcoin: Why Bert isn’t a fan
12:17 – Key insights Bert wants people to know
✅ FREE RESOURCES
Download The Private Wealth Playbook — a data-backed guide to strategically acquiring gold and silver for maximum protection, privacy, and performance. Plus, get Daniela Cambone’s Top 10 Lessons to safeguard your wealth (FREE) 👉
📞 SCHEDULE YOUR FREE STRATEGY CALL
Talk to a senior analyst today and discover how to protect your future with physical gold and silver. 👉 or call 866-706-9061
👋 STAY IN TOUCH WITH ITM & DANIELA
🟩 Schedule a Strategy Session: 866-706-9061
🟩 Email us at services@itmtrading.com
🟩 Official Homepage
🟩 Listen On The Go:
🟩 ITM’s Twitter:
🟩Daniela’s Twitter:
🟩Daniela’s Newsletter:
🌎 ABOUT ITM TRADING:
For more than 30 years, Phoenix-based ITM Trading has been a nationally recognized organization for trusted, data-backed research and investor education in the precious metals industry. They strategically assist clients nationwide, specializing in the different functions that physical gold and silver products provide in a diverse portfolio. ITM Trading’s mission is to give investors the knowledge, analysis, and lifetime strategies they require to confidently navigate the intricate monetary policies that restrict economic freedoms. They help build each client a custom portfolio designed to protect and grow their wealth and assets during economic downturns, hyperinflation, and currency resets.
Disclaimer: The information provided in this video is for educational purposes only and should not be construed as financial advice. Gold and silver prices are influenced by many factors and may fluctuate. All assets carry some risk and past performance does not guarantee future results. The views expressed by our hosts or guests do not always reflect the views of ITM Trading nor guarantee a specific outcome. Always conduct your own research and consult a financial advisor before making any investment decisions.
#stockmarket #gold #economy #markets #bertdohman #danielacambone #homes #property
ITM Trading Inc. © Copyright, 1995 – 2025 All Rights Reserved.
source
41 Comments
It's started. Thank you for the warning I stopped gambling with margin right around the time I watched this 5 months ago
Property it is a joke , they will increase the taxes on your property , till you can not afford to pay them , and take it from you , They do not want people owning , they want everyone to rent .
It makes me sad to know that honest old timer annalysts are aging out due to retirement and passing. I will remain eternally grateful for sharing their experience and wisdom.
After CBDC you will wish you had bitcoin SELF CUSTODY
If one doesn't trade on margin and portfolio has liquidity or has excellent cost basis then should an individual really worry? I can only see a problem if there is absolutely no liquidity in the equity and bond market. I don't believe Bitcoin or Ethereum has much liquidity
I will burn down my house and open fire on anyone trying to take it from me.
THANK 😊 🙏 YOU
In the book of Habakkuk1:4-5 … Therefore the law is slacked, and judgment doth never go forth: for the wicked doth compass about the righteous; therefore wrong judgment proceedeth… Behold ye among the heathen, and regard, and wonder marvellously: for I will work a work in your days, which ye will not believe, though it be told you…and these verses are speaking of today, so believe what you want collapse and desolation are happening right now and it's going to get worse soon enough.
My money?,take it all ,I'll just make more!
remember the promises u made on 11/11/11 !
Just FYI, in my country you can buy a loaf of bread using bitcoin.
i can't lose everything… i am debt free… and have cash reserves
Are they considering the money inflation effect?
Sorry, wasted time.
I do not understand.
Stop!
When government creates dept, how does it come to rise the stock market,,?
or does the government buy stocks?
I thought they repay the debt.?
Great reporting but YOU'RE SO BIASED IN FAVOR OF GOLD AND SILVER….HOW can people trust YOU?
You don't believe that we're changing financial systems to totally digital
It's all a big lie. Extend and pretend. When this catches up…..look out below.
yes, you can take a bitcoin and buy a loaf of bread for it. you can buy a luxury car for it. or an apartment in most of the world.
Greater Fool Theory.
I haven't ever been late on my house, they go belly up its not my breach of contract. They will have a war on their hands getting me out without buying me out cash in hand
Treasuries did Mr. Dohmen not mention treasury bonds?
The great taking and collapse.
Record number of people that sell options, you can’t trade options without an option account . You can sell options on oil futures without a margin account
This old fart says liquidity and credit are up…AI says this ….. Yes, available evidence suggests a contracting trend in certain aspects of liquidity and credit. Market liquidity is tightening, evidenced by declining reserve balances and rising interest rates like the SOFR, and global foreign currency credit has contracted. While consumer credit growth is mixed, some reports indicate rising credit card delinquencies, indicating potential strain in consumer credit quality.
Liquidity trend
Market liquidity is tightening: Market liquidity is deteriorating, with reserve balances dropping significantly and the SOFR trading above its target band.
Global liquidity is contracting: Global liquidity has undergone a shift, leading to a contraction of foreign currency credit, especially in dollars and to emerging market borrowers.
Bank liquidity is tightening: For small banks, balance sheet liquidity is tightening.
Credit trend
Consumer credit is mixed: In August 2025, overall consumer credit increased, but with a notable decrease in revolving credit (like credit cards) and an increase in nonrevolving credit (like auto loans).
Consumer credit quality may be deteriorating: Some reports indicate rising credit card delinquencies and charge-offs, suggesting potential strain in consumer credit.
Global foreign currency credit is contracting: This is seen in a reduction of dollar-denominated bank loans from local banks, loans from banks abroad, and dollars raised through international bond issues.
Boomers’s gonna be on the street corner selling their ass
Bitcoin exists online on the internet. When a crash comes and the people running the computers that hold the bitcoin can't afford to pay the electricity bill – when the power goes out your bitcoin is gone.
Nov 19th
Lol
The market pulls in those with inexperience, those who make emotional choices and rash decisions. They’re the ones that are gonna lose big time.
Like this man, I’ve seen multiple rug pulls. The next one will be Massive.
As a real estate broker for 40 years I do not understand how a stock broker who offers a margin account can foreclose your home. Here in Connecticut they would need to get a legal judgement, issue a lien on the home, then go thru a lengthy foreclosure process which takes years. Assuming there was equity in the home in the first place this is a difficult process to undertake. Also, why would a vp of a bank travel to foreclose homes? Nobody did that then nor now.
🤣😂🤣😂🤣🤣😂😂😂 this old guy😂😂😂😂😂😂
He's a sweet heart, and deserves a smile and a laugh. Such wisdom
Seems genuine 💯
smart man liston to him people
….
Post covid, DR Horton and Lennar bought extremely cheap and undisirable land positions. They thought they could build homes and charge top dollar and maintain their profit margin. Boy were they wrong. 1. Noone wanted to live in these locations and 2. The median income in the area could not support the monthly payment. The big builders thought the post covid demand would continue and they thought thes homes in these indesirable locations would still sell like hotcakes.
The market wasnt dumb and buyers either did not or could not afford these awful locations where homes are being built.
The crash that the villian Trump caused
Investors Business Daily = crimorg
For the people wondering why Daniela won’t push back on Bert regarding bitcoin,… she wants to keep her job going and the interviewees returning. She’s not unlike the rest of us, so the job and ensure the guests and clients are happy.