Highlights - 🤖 AI is the most important economic leveller of our lifetime, with unique potential to democratize expertise and economic opportunities globally. - 💡 Knowledge vs. Expertise: AI transforms mere factual knowledge into actionable expertise, enabling anyone to create and innovate at unprecedented levels. - ⚖️ Wealth Concentration Debate: There's tension between AI-driven levelling and fears of super-concentration of wealth; Palihapitiya argues for a more equitable economic model. - 🔥 AI Dilemma: Some AI leaders oscillate between hyping existential risks and product hype, creating harmful mistrust and “doomerism.” - 🛠️ Automation & Jobs: Many traditional professions, including skilled trades like plumbing, face potential automation, demanding a rethinking of employment. - 🏛️ Political Pushback: AI opposition is emerging as a real, bipartisan political force, partly fueled by resentment towards Silicon Valley’s concentrated power. - 🌐 Immigration & Innovation: Overuse and abuse of visa programs create bottlenecks, limiting America's ability to attract the best global talent critical to innovation. https://youtu.be/qLY04q3L4hA?list=PLc5F2y4laofG8BBeKLfc1h_wLFO0Gjx3M

Highlights - 🪙 Rick Rule explains how near-term US rate hikes strengthen the dollar and weigh on gold prices. - 📉 Lessons from the 1975 gold cycle: secular bull markets have intense, volatile pullbacks. - 📈 Real interest rates (nominal yield minus inflation) are the ultimate determinant of gold prices. - 💰 Streaming companies like Wheaton trade at significant discounts, indicating potential undervaluation. - ⚙️ Silver is a speculative asset with structural deficits and industrial demand driving potential upside. - 🤝 Current low valuations in juniors are setting the stage for an uptick in mergers and acquisitions. - 🌎 Political risk in mining should be balanced against asset quality; "safe" jurisdictions aren't risk-free. https://youtu.be/hEbtmAWiaC0

- 📉 Michael debunks the recent sell-off in gold and silver as a sharp corrective pullback within a massive long-term bull trend. - 🐻 Bear traps have misled many investors into selling silver and gold at lows, but technical momentum data suggest a strong rebound is imminent. - 🚀 The critical miners-to-gold relative value spread is on the verge of a historic breakout, likely leading to explosive gains in both miners and bullion. - 📉 Semiconductor stocks show a failing 'three-hump power thrust' pattern, signaling a potentially severe downturn in the tech sector leadership. - 🏦 Banks display a bifurcation: a few strong banks hit highs but carry vulnerable momentum structures, highlighting underlying credit risks. - 💵 Fed liquidity efforts support a transient Treasury rally, but long-term bearish outlook persists due to debt crises and scarce savers. - 💔 Bitcoin's momentum indicates an ongoing bear market that may erase past gains and dissipate public enthusiasm, likened to tulip mania. https://www.youtube.com/watch?v=4vrsj4mDPso&pp=ugUEEgJlbg%3D%3D

Nasdaq (NDAQ) said it will add CoreWeave (NASDAQ:CRWV), Nebius (NASDAQ:NBIS), Rocket Lab (NASDAQ:RKLB), Astera Labs (NASDAQ:ALAB) and Teradyne (TER) to the Nasdaq-100 index, a move that is likely to prompt fresh buying from index-tracking funds, according to a Wednesday exchange notice. The changes will take effect before the market opens on June 22 as part of Nasdaq's quarterly rebalance. The index, which holds 100 of the largest non-financial companies listed on the exchange, is reviewed regularly to keep its membership in line with eligibility rules.

- SpaceX is expected to offer 555.6 million shares at an indicated $135 per share - At that price, the company is worth about $1.77 trillion before a single public share even trades - SpaceX’s base raise alone beats Aramco, ENEL (Italian Energy Corporation), and Meta combined