Gold & Silver Are Going Down! Copper Is Going to $40,000 | Clem Chambers Interview

**Mark** (0:00)
Brought to you by the Ore Group, connecting people, projects and capital to find the next generation of minds. My name is Mark and you're watching Resource Talks weekly news roundup for the week ending August the 2nd, 2026
This week, a divided Federal Reserve kept increase rates unchanged but opened the door to another hike.
Microsoft recorded the largest one-day increase in market value in history and gold climbed back above $4,100 an ounce, as investors weighed persistent inflation and geopolitical risk. And joining us to make sense of it all is Clem Chambers, veteran markets commentator and an author. Clem has spent decades analyzing stocks, commodities and cryptocurrencies, and is now the founder of Private Investor Platform, a new FM. And at the end of the conversation, I'll ask him how he would invest $100,000 in this environment. So Clem, thanks for being here.

**Clem Chambers** (0:58)
Great to be here. And I'm happy to have some spicy tips at the end.
They're not tips. It's not financial advice. It's raw material for you to keep.

**Mark** (1:09)
So Clem, the Federal Reserve left interest rates unchanged this week, keeping them between 3.5 and 3.75 percent.
But it was hardly a reassuring pause with three policy makers voting for an immediate rise, while Fed Chair Kevin Warsh gave investors very little guidance about what comes next. And in that sort of information black hole, markets briefly put the chances of a September rate rise as high as 77 percent, which sent bond yields climbing and put stocks under pressure. So Clem, was this effectively an interest rate rise delivered through words rather than action by Warsh?

**Clem Chambers** (1:50)
I'd say it's the opposite. Oh, I'm not going to tell you and give you guidance that we're raising interest rates. So when I drop them, you can't say you said the opposite. I mean, this guy is meant to be a hawk. Oh, yeah, sure. Of course he is. Trump got a hawk to be the Fed Chairman. Of course he did. He would want that, wouldn't he? He'd want a hawk. He's a tight money person, not. What did he say? I'm a low interest rate kind of guy. I think that's to quote unquote. So yeah, of course he's hired a Fed Chairman that's going to be a hawk and put interest rates up.
Of course he hasn't. But of course you can't say, well, actually, I'm going to be very dovish because there's all this stuff coming up we can't really talk about. And we're going to be printing like crazy. And the last thing in the world is I want to set interest rates going through the roof by saying we're going to drop them. And I'm just going to say, oh, a hard talk of guidance. Oh, very hard. Hard. Oh, so hard. Oh, no. Oh, no. What could it be? Oh, we are feeling hawkish. Oh, yes, we are.
Well, yeah, because the best way to make interest rates go down is to say they're going to go up.
Yeah. And then, you know, if you say they're going to, you know, we're going to be loose money, everyone goes, oh, my God, oh, my God, inflation. Oh, we won't let money. Oh, no. Up goes inflation. Up goes interest rates. Sorry, you know. So they're caught between the devil and the deep blue sea because there ain't going to be enough cash to go around for onshoreing.
I mean, reindustrialization. How much cash do you think that's going to need? Oh, another load of billions and trillions. Oh, we're going to need to build our energy infrastructure. Oh, oh, that won't need any more new money. No, no one have to print any for that. That just kind of exist and come out of nowhere. Yay. They have to print like crazy. Absolutely like crazy. There's going to be it's going to be a printathon for what? Ten minutes, ten weeks, ten months, ten years.
When are they not going to have to print like lunatics if they're going to onshore industry, if they're going to build out AI, if they're going to be energy dominant? You know, Trump has said it. I mean, it's not like these guys don't say it. You know, if you read Mein Kampf, Hitler said what he was going to do, but nobody believed him, right? She says he's going to take Taiwan. Nobody believes him. They tell you.
And Trump and his crew have said what they're going to do. They're going to onshore industry. They're going to build out AI, yeah? And they're going to do all those things. And they all need money. Tons and tons and tons of money. Energy dominance. Remember they said that. Do you know how much more energy China has over America? 250% more electricity. Two and a half times the electricity of China. So how's America going to be energy dominant without building like how many?