Real assets have real value... Washington just triggered a hard-asset supercycle... The real reason the smart money is rushing into gold... A once-in-50-years setup... America's mining mandate...
Editor's note: As we head into the long Thanksgiving weekend, today we're sharing a special guest essay from Digest Publishing co-founder Nick Hodge...
Nick is one of America's foremost natural resources investors. As you may have heard, he recently debuted a new free presentation – "The Stocks That Save America Summit" – alongside our friend Rick Rule. (If you missed it, check it out now, before it goes offline tonight.)
In the presentation, these two multimillionaire investors shared what they see as the biggest investing trend of the coming decade... and how everyday investors can position their portfolios in the right stocks to profit.
We've covered part of this story already in the Digest... The U.S. government – in the name of national security – has recently started using taxpayer funds to buy shares of select stocks. These stocks have surged in response, in some cases by 90% or 200% overnight...
The thing is, this is only the beginning of these dramatic moves, according to Nick and Rick. They believe this controversial new government shift is creating a once-in-50-years setup as America races to secure vital "real assets" in the years ahead.
In today's essay, first published in Dr. David "Doc" Eifrig's Health & Wealth Bulletin on November 17, Nick writes about one signal in particular that's telling him that we're still early in this story. It has to do with one of these assets: gold...
You know things are getting serious when the smart money starts running into gold...
Everywhere I (Nick Hodge) look, the signs are clear.
Gold is breaking out. Silver is heating up. Copper is on deck. And uranium? Well, uranium is just getting started. Even the U.S. government is stepping up to fund miners and secure domestic supply.
This isn't some short-term trend. It's the beginning of a major, long-term rotation into hard assets. And if you're still wondering whether it's too late to get in... it's not. In fact, the way I see it, you'd still be early.
Let me walk you through what's happening – and how I'm positioning myself to profit from it...
Gold recently broke out to record highs in U.S. dollar terms. It's not just up – it's outperforming everything. Take a look...
And here's what's really interesting: It's doing that without a weakening dollar.
That's new. Traditionally, gold and the dollar trade inversely. When the dollar strengthens, gold prices fall, and vice versa.
But now, we're seeing both move higher in tandem. That tells me this isn't about foreign exchange games. It's about fear, capital flight, and institutional investors moving their money into the safest asset they can find.
Gold isn't just an insurance policy. It's becoming the core of a lot of investor portfolios. And this breakout is confirmation of that thesis.
So no, you haven't missed it. In fact, I'd argue we're actually early...
We've seen this before...
Gold breaks out, retail investors hesitate, and the smart money quietly accumulates everything that's leveraged to it.
This time, it's not just hedge funds or billionaires. It's the people who understand the math: governments and large institutions with long-term capital to invest.
The market is starting to consolidate. It's pulling back just a bit – breathing, as it should – but holding its gains. That's bullish. And it tells me this breakout has real legs.
When I see that kind of price action, I don't chase. But I do sharpen my list. I look at the juniors that haven't moved yet. I look at silver, copper, and uranium. Because when gold leads, the rest of the resource sector tends to follow.
Let me say this again: You haven't missed anything.
Yes, some gold stocks have moved. And yes, the metal itself has surged. But the real gains – especially in equities – are still ahead of us.
The breakout in gold is just the first domino. Silver is following. Uranium is breaking out again. Copper is setting up. The broader resource market is just starting to rotate. And the best time to get positioned is before that rotation goes full tilt.
We're coming off years of underinvestment in new supply. At the same time, demand for metals is ramping up – driven by electrification, defense, tech, and global instability.
This story won't play out over the next few months. This is a decadelong trend. And the government just entered the arena...
If you need more confirmation that this cycle is real, look no further than Washington, D.C.
The U.S. government is now directly funding mining projects. We've seen it with uranium and rare earths, and now we're seeing it with copper.
Trilogy Metals (TMQ) just got a major boost from the Department of Defense. This isn't the Department of Energy... It's the Department of War. That tells you how strategic these metals have become.
They've gone from "nice to have" to "must secure."
And the money is starting to flow. I'm not talking about just permitting reforms or regulatory lip service. I'm talking about real dollars, real support, and real urgency.
That changes the game for domestic miners. And it gives investors another reason to look closely at these companies – especially the ones with assets in the right places.
The most investor-friendly setup in a generation...
Let's talk about supply for a second...
Mining is hard. Expensive. Slow. Political. And for the past decade, it's been starved of capital.
That means the production forecasts from JPMorgan and Goldman Sachs are probably too optimistic.
You can't flip a switch and bring a new copper mine online. You can't replace Russian palladium overnight. You can't secure antimony or uranium or rare earths without permitting, infrastructure, and real leadership.
That's exactly why prices are going up. The market is finally realizing that "projected supply" and "actual supply" are two very different things. And when supply can't meet demand, prices don't just go up... they explode.
I've been through a few cycles. I was there in 2008, 2011, 2016, and 2020. And I can tell you that what's happening now is one of the most investor-friendly environments I've ever seen.
We're seeing rising demand collide with tightening supply. Mix in government support, and investors are suddenly waking up to the value of real assets.
Every metal I track has a tailwind. Gold is breaking out. Silver is following. Copper is pushing higher. Uranium is up. Platinum and palladium are stirring.
And the stocks are still cheap.
That's not going to last. When the flood of retail money shows up, it's going to chase the same tickers. It's going to create a rush. And the best-performing stocks will be the ones you bought before that rush began.
This is the time to start building positions. Not when CNBC finally catches on or when your neighbor starts asking about silver. Now.
I'm not guessing here...
I'm watching price action, volume, and macro trends. Gold is consolidating around all-time highs. That's not a bearish signal – it's a bullish setup.
Silver is starting to respond. And historically, when silver plays catch-up, it does so quickly. That's how you get 100% or 200% moves in a matter of months.
Copper is benefiting from real demand – electric vehicles, infrastructure, and electrification. But the supply side is shaky. Projects are getting delayed, and resource nationalism is creeping in.
Uranium has already re-rated once. But the fundamentals are still intact. Supply is tight. Utilities are contracting. And new demand – from small modular reactors ("SMRs"), data centers, and growing AI energy needs – is just beginning to register.
Even platinum and palladium are starting to show signs of life. These are metals with real utility and tight markets. If gold leads, and silver confirms, these two could surprise to the upside.
I don't predict. I plan. And my plan right now is to stay long gold and silver... to keep building positions in quality juniors... to watch copper, uranium, and the platinum group metals for confirmation... and to be ready when the next wave of capital comes.
We're seeing a shift – not just in price, but in attitude. The market is starting to remember that commodities matter. That mining isn't optional. That real assets have real value.
And if you're paying attention, that's not scary. It's exciting. Because we're still early. And the smart money knows it.
Editor's note: As mentioned above, last week, Nick sat down alongside fellow natural resources investor Rick Rule to reveal the details about a huge shift unfolding in the market right now. As they explain, this shift could define the economy for decades to come.
Uncle Sam has essentially become a hedge fund and is investing taxpayer money directly in publicly traded companies.
In their free presentation, Nick and Rick pull back the curtain on this rapidly evolving story... and share the No. 1 move you should make immediately to ensure you don't get left behind.
If you haven't watched it yet, don't wait until after Thanksgiving... The video goes offline at midnight Eastern time tonight. Check it out here now.
New 52-week highs (as of 11/25/25): Applied Materials (AMAT), ProShares Ultra Nasdaq Biotechnology (BIB), Alpha Architect 1-3 Month Box Fund (BOXX), Cencora (COR), Donaldson (DCI), Quest Diagnostics (DGX), EnerSys (ENS), Expeditors International of Washington (EXPD), Alphabet (GOOGL), iShares Biotechnology Fund (IBB), IQVIA (IQV), iRhythm Technologies (IRTC), Medtronic (MDT), Mueller Industries (MLI), Monster Beverage (MNST), Merck (MRK), Annaly Capital Management (NLY), Omega Healthcare Investors (OHI), Travelers (TRV), UGI (UGI), and Health Care Select Sector SPDR Fund (XLV).
One quick housekeeping note before we get to the mailbag: Our offices are closed tomorrow and Friday for the Thanksgiving holiday. You'll get our Masters Series essays in your inbox this weekend, and we'll pick up our regular fare on Monday.
In today's mailbag, feedback on this week's episode of the Stansberry Investor Hour, featuring Epsilon Theory's Ben Hunt. You can watch the episode for free on our YouTube page, or listen to it on Spotify, Apple, or wherever you get your podcasts... Do you have a comment or question? As always, e-mail us at feedback@stansberryresearch.com.
"Amazing interview. Give us more of Ben Hunt. It felt like we barely scratched the surface. The combination of Dan [Ferris] and Ben feels like where things are going but not ignoring the past. Still trying to get my head around all that was discussed." – Subscriber David W.
Regards,
Nick Hodge
Spokane, Washington
November 26, 2025