Founder, Advisor, Lawyer - supporting the reindustrialization of America in energy, gold and critical minerals, and the new technologies that enable them.

Dallas-Fort Worth Texas
Joined September 2017
Replying to @TaviCosta
Ray built the $100B hedge fund. His own family office just filed this: 87% gold. $419M in the metal. $61M in everything else. Not a hedge. The position. When the guy who spent 50 years mapping debt cycles puts nearly the entire disclosed book into the asset with no counterparty, the chart stops being a portfolio and starts being a statement.
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Take a minute and absorb this. Mr. Dalio built Bridgewater after getting smacked in the market and built the system so that he could not just believe that he was right, but know that he was right. That made Bridgewater so successful. Look where he is allocated now. Gold.
Ray Dalio's family office sticks to what he believes and says in interviews - the decline of fiat currencies. Hence, he holds 87% in Gold ETFs.
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Meanwhile… If gold miners were a standalone sector, they would be the cheapest group in this comparison of US equities. Roughly a 10% free cash flow yield. No other sector shown comes close. tavicosta.substack.com/p/sho…
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The world’s most consequential region of the next 20 years.
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‼️ CENTRAL BANKS BOUGHT THE MOST GOLD IN NEARLY TWO YEARS IN SEPTEMBER. AS GOLD PRICES FELL 8.5%. An estimated 63 tonnes, according to preliminary World Gold Council figures. 62% more than August. TELL YOUR MUM. TELL YOUR LANDLORD. TELL THE GUY YOUR WIFE TOLD YOU NOT TO WORRY ABOUT. THEY ARE BUYING THE DIP 🍿
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No American should lose access to a bank account because of their politics or their industry, and that includes the digital asset businesses wrongfully targeted under Operation Chokepoint 2.0. Thank you @SecScottBessent and @USComptroller for working to ensure Americans have fair access to banking.
Under the leadership of @POTUS and @SecScottBessent, @USComptroller Jonathan V. Gould is ending the weaponization of finance. Read about the OCC’s supervisory review of debanking activities in its nine largest national banks and its efforts to guarantee fair banking for all Americans. occ.gov/FairBanking
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Rand Marsh retweeted
Truth-seeking is the most important aspect of AI/SI safety
"HAL was told to lie, by people who find it easy to lie. HAL doesn't know how. So, he couldn't function."
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Rand Marsh retweeted
Great time Shaun!
My conversation with @Sorenthek which spanned a bar, a walk and a park
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Rand Marsh retweeted
Gold Buyers Defend $4,000-$4,100 a Fourth Time
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Rand Marsh retweeted
Market Report 10-14-2026: Respect Whose Authoritah, Vladdie? At some point everyone has a 'come to Jesus' moment. That moment is nearly here for Ukrainian "President" Vladimir Zelensky. Kiev (not Kyiv) is getting a right thrashing now that Elon Musk and the US government have shut off all military satellite assistance to the UAF via Starlink. The tracksuit midget that thinks he has the right to demand the resources of the world to press his vendetta against Russia on behalf of the slimiest of slimy globalist (mostly British, French and German, with a side of Blackrock) douche canoes has worn out his welcome not just in the White House (which was long gone) but really with the rest of the world. The only people who hate what is happening here are the Bluesky'ers who hate anything and everything Trump does, and the aforementioned douche canoes ... on both sides of the US political aisle. So, as we watch the markets this morning over-react to a completely predictable CPI number, which drove US bond yields higher and sparked the requisite meltdown in financial commentators, remember folks the first rule of markets, "He who is screaming is losing his ass!" The sooner the Tracksuit Midget of Kiev is cut off from his cocaine suppliers, the faster we can get to a much better, more stable world. Otherwise, he really doesn't want to say hello to either Trump's or Putin's little friend. That will be quite an uncomfortable day for anyone. patreon.com/GoldGoatsNGuns/p…
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Long term - copper deficit is real - most of the world is only just now getting the word. [Copper, Silver, Gold - just sayin...]
The Copper Deficit Is New News for Most of the World
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Rand Marsh retweeted
UBS: Copper Deficit to Nearly Double by 2027
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This morning's talk with @TuckerMax and @_tommyspodcast regarding the path to manhood. Tommy has my genuine respect for taking all this on in public, in order to pursue his own path, while hearing what many need to hear.
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This chart, courtesy of Alex Topouzoglou at @Stifel, shows that drilling activity has noticeably recovered in the past 3 months, which is GOOD... However, over the past two years, the share of drilling dedicated to copper exploration, arguably the most important of the metals listed in the chart, has remained largely unchanged... which is BAD. Despite copper prices having risen >50% since October 2024, the incentive price is clearly not high enough to encourage others... whereas it seems to be high enough for precious metals, which dominate drilling activity. No matter the copper price, our dedicated team of geologists at @IvanhoeMines_ and @ivanhoeelectric continue to drill for the next tier-one copper discovery... and it's only a matter of time before they find one.
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From one of the most respected men in mining (and early friend of Steve Jobs if you didn't know). Supply cliff is here, and the part most will miss - the supply lines are Balkanizing - its musical chairs time and those that don't have supply locked down might be locked out.
This is a good read by @Bloomberg, breaking down all the components that go into building a theoretical 1-gigawatt AI data centre. We’ve all seen the headline numbers before, but the required gigadollars are still hard to digest. $30 BILLION is equivalent to X2 new USS John F. Kennedy Aircraft carriers... for just one gigawatt of data centre capacity. ....and the US is expected to add more than 60 gigawatts of data center capacity over the next four years. In copper terms alone, that's >2 million tonnes of copper (at 35,000 tonnes of copper per gigawatt; source: @BMO). So this AI boom is just a metals boom in disguise. Capital expenditure by @Meta, @Alphabet, @Amazon and @Microsoft this year alone is expected to total $0.75 TRILLION.... increasing by+2.3 times to $1.75 TRILLION in 2027. These estimates are based on already-outdated metal prices. The bill will keep inflating, as the cost of finding and mining the required copper, nickel, palladium, silver, scandium, gallium, germanium, niobium, and grain-oriented electrical steel (GOES), to name a few, keeps rising. Supply of these metals is ALREADY in deficit, and their supply chains are increasingly balkanizing. So, Bloomberg's numbers are likely to be closer to the floor than the ceiling. @ivanhoeelectric @IvanhoeMines_ @IvanhoeAtlantic bloomberg.com/features/2026-…
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We Are Americans! I grew up with no father but the men of the tribes. Out here in the great expanses of the West. I'm not of their blood. The old tribes of this land. Yet, mine is warrior blood, English and Scot and Norman and Viking ways all run together in me. When they met me as a young lad, I was already a young warrior in spirit and fight, a brave in their words. Their old men sat me down at the fire and told me the stories, and the stories went back further than anyone could count, to when the animals still talked. Long before the four hundred years my people have been here. And they told me what their grandfathers saw when my people came west, so I would know it when it came again. They saw wagons, white canvas coming down off the ridges, a few at first, the oxen worn to bone and the ones walking beside them not much better. The strangers did not know the land, and they would not have lived to see the far mountains of the Pacific ridge if they had not been fed and shown the crossings. So they were fed, and they were shown. Then more came, and more after them, more every summer. The cavalry came behind the wagons, and wooden forts went up where the trails met the rivers. They brought paper, and the paper became law, and the law outlived every promise written on it. They drove stakes and ran their chains across ground no man had ever thought to measure, and sold what lay between the stakes to men who would never set foot on it. And there came a spring when the people looked up and found themselves strangers on their own ground. The old men never said the strangers were stronger or even an evil enemy. They said the nations stood apart. Every nation thought the trouble belonged to its neighbor. The old feuds ran deeper than the new danger, and the strangers learned which quarrels to feed. So they took them the way wolves take elk, one at a time from the edge of the herd, and each nation stood alone, sure it would be the one they spared. I have lived to see what they saw. The wagons look different now, and the cavalry, and the forts, but I know the shape of it. The paper becomes law again, and the stakes go in again, driven by men who will never be buried here, and the farm my great-great-grandfather cleared is owned on paper by men who have never stood on it. And there will come a spring when we heritage and not native men will look up and find ourselves strangers on our own ground. As the natives of this land once found themselves to look up and to have lost. Our own ground. I know whose it was before my great-great-great put a plow to it. The men of my blood drove those wagons and rode with that cavalry. I will not soften that. The men who raised me, the men native to these lands, would know a softer telling for a lie and they would engage with me according to the dishonor I had wrought. Our ancestors fought each other for four hundred years, and no man fights another that long without learning his ways. We took from them how to move without sound, how to read sign, how to outwait a man. They took from us the rifle and the steel, and how to hold a piece of ground and not give it up. In time the warrior on each side carried much of the other in him. And still there was blood between us. But the land has done what blood never could. Across the long years it has worn the old enmities down into something harder and closer: a single people, forged in the same earth, under the same skies, against the same winters. Native and Heritage no longer stand apart. Our warriors are one now, one tribe, the Warrior American tribe. We stand as men who have claimed and been claimed by the same ground. Again and again in untold number of tellings. aThis ground, it holds the many dead of both. The graves of each mark no separate nations now, only the places where fathers and grandfathers and the fathers and grandfathers of them each, every line of blood laid down. My great-great-grandfather lies on the hill above the river, within sight of the grandfathers of the men who raised me, and some of those buried between them were both. And in this most ancient of ways, the living inherit more than soil. We inherit the duty of those who rest beneath it: to keep what was fought for, to mend what has been broken, and to refuse the surrender of a place paid for in the bones of our own. The soil cares not if their skin were red or white. Only that it shed blood to feed the land. This is the broader truth the land has written: that men once set against each other can and do, must, become the keepers of one another's dead, and in that keeping become, even if uncomfortable, brothers. And brothers we are. Now, together, in the lands we have shared so long, we face the threat of eradication, and nothing like it has come before. The old men taught me how a people is lost. It goes one nation at a time, each alone at the edge, each waiting to be spared. I will not stand by in weakness and watch it happen again in my time. The time for division has passed. We are now long since one. And what remains is the work of holding the ground together. We must stand together and fight the ways we know to fight, the ways we learned from each other across centuries, as braves! Let us rise now, not against one another but as one, for if we fail in this, we each and all will finally and forever lose all. note: There is a deep deep core of Native American warfighting traditions wove throughout the Green Berets. It's why I went on to become a Green Beret in my life. Having learned to so much from the men of the tribes who taught me to be a man, an American Man.
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