CLEM CHAMBERS | There will be a print-a-thon and hard assets will go way up!
リアクション
2026年09月11日
Description
Clem Chambers returns to the Metals and Miners pod on 9/9/26 with Gary Bohm and refuses the usual doom loop. He argues the Treasury, not the Fed, is now driving the bus, AI capex is crowding Treasuries, and Washington will print rather than let the long end blow up the AI-and-onshoring race with China.
His core call: a “print-a-thon” is coming. Inflation drifts back toward 5–6%. Hard assets, copper, platinum-group metals, nuclear, and overlooked names in the AI value chain catch the bid. Gold is not dead, but he thinks it is already expensive versus copper and PGMs. Direction is up. Timing is hard. Dollar-cost average. Position for a boom and a bubble, and remember the bust that follows.
This is not “dollar death by Christmas.” It is financial repression, bipartisan nuclear, and a knowledge-economy war that still needs copper, silver, uranium, electricity, and catalytic metals.
Chapters
00:00 Intro
01:06 What Clem wants viewers to walk away with
04:18 Treasury vs Fed: who actually controls rates
08:56 AI crowding Treasuries and the coming money-supply blast
11:48 Commodity supercycle and bipartisan nuclear bills
16:30 Bessent, “can’t pause AI,” and bigger intervention
17:18 Venice galleys vs sailing ships
19:34 Economic war with China without blood
20:03 Can Treasury print, and what true YCC looks like
24:06 $6B buybacks are a drop in the bucket
24:57 Bond vigilantes, Japan, and QE
27:29 Buy dips or just get positioned
29:50 Why platinum and palladium, not just gold
32:19 Physical vs Sibanye-Stillwater
33:03 Hyperscaler debt, Buffett indicator, and who buys the paper
35:18 Why Clem rejects a “Bretton Woods reset”
38:33 AI value chain: Goldman, HVAC, racks, turbines, dull suppliers
44:43 Closing takeaway: boom, bubble, then bust
Sound Bites
“The dollar isn’t dead. It isn’t even dying.”
“The Treasury has wrested control from the Fed. The Treasury is now driving the bus.”
“Would you lend money to Donald Trump or to Google? Google will pay you more.”
“You’re going to see a blast of money supply. Inflation goes back toward five, six percent.”
“Hard assets up, market up, economy up, inflation up, money supply up. Wild times.”
“Every Democrat thumbed up nuclear. They’re not going to pull the plug.”
“There will be a print-a-thon, and hard assets will go that way.”
“It’s inflationary, but it is not hyperinflationary.”
“Direction is easy. It’s going up. Timing is really, really difficult. Just DCA in.”
“I love copper. I really like platinum-group metals. Gold looks expensive from here.”
“Every ounce of platinum and palladium gets blown out the back of a catalytic converter onto the freeway.”
“Get positioned for a boom and a bubble. Don’t forget the bust.”
Key Takeaways
Echo-chamber “dollar death / gold to $10,000 by Christmas” is marketing, not a trading plan.
The Fed has stepped back from prediction because Treasury can override it. That is riskier and more bullish for hard assets.
AI build-out plus onshoring plus deficit spending means more liquidity, not less.
Bipartisan nuclear is the tell: the supercycle survives a midterm or White House change.
Printing aimed at productive assets (data centers, factories, grids) is reflationary, not automatically Weimar.
Copper and PGMs are Clem’s tilt; gold is a smaller residual. Sibanye-Stillwater is his liquid PGM vehicle.
Hunt the unloved middle of the AI chain: financiers, HVAC, racks, turbines, transport, regional suppliers — not only Nvidia.
Easy part is direction. Hard part is not blowing up on volatility. Size positions and keep dry powder for the bust.
Connect With Clem Chambers
Substack: https://www.clemishere.substack.com
X: https://www.x.com/ClemChambers
YouTube: https://www.youtube.com/@ClemChambersAlpha
Connect With Metals and Miners
Website: https://www.metalsandminers.com
Substack: https://www.Metalsandminers.substack.com
X: https://www.x.com/GaryBohm5
Leave A Comment
Clem sees a Fed print-a-thon coming and as a result hard assets will go way up, so therefore get positioned and ride the volatility. Do you agree? Leave a comment below!
⚠️DISCLAIMER: We do not accept any liability for any loss or damage incurred from you acting or not acting as a result of watching any of our publications. You acknowledge that you use the information we provide at your own risk. Do your research. *This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
Copyright Notice: This video and our YouTube channel contain dialogue, music, and images that are the property of Metals and Miners. You are authorized to share the video link and channel and embed this video in your website or others as long as a link back to our YouTube channel is provided.
© Metals and Miners
Clem Chambers returns to the Metals and Miners pod on 9/9/26 with Gary Bohm and refuses the usual doom loop. He argues the Treasury, not the Fed, is now driving the bus, AI capex is crowding Treasuries, and Washington will print rather than let the long end blow up the AI-and-onshoring race with China.
His core call: a “print-a-thon” is coming. Inflation drifts back toward 5–6%. Hard assets, copper, platinum-group metals, nuclear, and overlooked names in the AI value chain catch the bid. Gold is not dead, but he thinks it is already expensive versus copper and PGMs. Direction is up. Timing is hard. Dollar-cost average. Position for a boom and a bubble, and remember the bust that follows.
This is not “dollar death by Christmas.” It is financial repression, bipartisan nuclear, and a knowledge-economy war that still needs copper, silver, uranium, electricity, and catalytic metals.
Chapters
00:00 Intro
01:06 What Clem wants viewers to walk away with
04:18 Treasury vs Fed: who actually controls rates
08:56 AI crowding Treasuries and the coming money-supply blast
11:48 Commodity supercycle and bipartisan nuclear bills
16:30 Bessent, “can’t pause AI,” and bigger intervention
17:18 Venice galleys vs sailing ships
19:34 Economic war with China without blood
20:03 Can Treasury print, and what true YCC looks like
24:06 $6B buybacks are a drop in the bucket
24:57 Bond vigilantes, Japan, and QE
27:29 Buy dips or just get positioned
29:50 Why platinum and palladium, not just gold
32:19 Physical vs Sibanye-Stillwater
33:03 Hyperscaler debt, Buffett indicator, and who buys the paper
35:18 Why Clem rejects a “Bretton Woods reset”
38:33 AI value chain: Goldman, HVAC, racks, turbines, dull suppliers
44:43 Closing takeaway: boom, bubble, then bust
Sound Bites
“The dollar isn’t dead. It isn’t even dying.”
“The Treasury has wrested control from the Fed. The Treasury is now driving the bus.”
“Would you lend money to Donald Trump or to Google? Google will pay you more.”
“You’re going to see a blast of money supply. Inflation goes back toward five, six percent.”
“Hard assets up, market up, economy up, inflation up, money supply up. Wild times.”
“Every Democrat thumbed up nuclear. They’re not going to pull the plug.”
“There will be a print-a-thon, and hard assets will go that way.”
“It’s inflationary, but it is not hyperinflationary.”
“Direction is easy. It’s going up. Timing is really, really difficult. Just DCA in.”
“I love copper. I really like platinum-group metals. Gold looks expensive from here.”
“Every ounce of platinum and palladium gets blown out the back of a catalytic converter onto the freeway.”
“Get positioned for a boom and a bubble. Don’t forget the bust.”
Key Takeaways
Echo-chamber “dollar death / gold to $10,000 by Christmas” is marketing, not a trading plan.
The Fed has stepped back from prediction because Treasury can override it. That is riskier and more bullish for hard assets.
AI build-out plus onshoring plus deficit spending means more liquidity, not less.
Bipartisan nuclear is the tell: the supercycle survives a midterm or White House change.
Printing aimed at productive assets (data centers, factories, grids) is reflationary, not automatically Weimar.
Copper and PGMs are Clem’s tilt; gold is a smaller residual. Sibanye-Stillwater is his liquid PGM vehicle.
Hunt the unloved middle of the AI chain: financiers, HVAC, racks, turbines, transport, regional suppliers — not only Nvidia.
Easy part is direction. Hard part is not blowing up on volatility. Size positions and keep dry powder for the bust.
Connect With Clem Chambers
Substack: https://www.clemishere.substack.com
X: https://www.x.com/ClemChambers
YouTube: https://www.youtube.com/@ClemChambersAlpha
Connect With Metals and Miners
Website: https://www.metalsandminers.com
Substack: https://www.Metalsandminers.substack.com
X: https://www.x.com/GaryBohm5
Leave A Comment
Clem sees a Fed print-a-thon coming and as a result hard assets will go way up, so therefore get positioned and ride the volatility. Do you agree? Leave a comment below!
⚠️DISCLAIMER: We do not accept any liability for any loss or damage incurred from you acting or not acting as a result of watching any of our publications. You acknowledge that you use the information we provide at your own risk. Do your research. *This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
Copyright Notice: This video and our YouTube channel contain dialogue, music, and images that are the property of Metals and Miners. You are authorized to share the video link and channel and embed this video in your website or others as long as a link back to our YouTube channel is provided.
© Metals and Miners
