EPISODE · Oct 10, 2025 · 1H 2M
Bill Fleckenstein: Misallocation of Capital Always Leads to Problems - PLUS Tom Woolrych is Back!
from Mining Stock Daily · host Trevor Hall
MSD welcomes Bill Fleckenstein of Fleck Capital to dive into the markets, addressing the big sell-off in precious metals that followed Gold running up to $4,000 and Silver hitting $50. They explore the confusing narrative behind gold's recent outperformance, noting that its surge came despite events seeming "less bad" incrementally, suggesting it is catch-up and anticipation of future policy. Fleckenstein focuses on the risk of presidential control over the Federal Reserve, predicting policies like yield curve control, which he believes will likely be "negative for the dollar" and lead to "more inflation". This discussion leads to an analysis of the dangers posed by the desire of the "powers that be" to "run the economy hot," which inevitably leads to inflationary consequences and the dangerous misallocation of capital. Finally, they analyze the nature of the immediate correction, the hard sell-off experienced by the miners, and the philosophical debate over government acquisition of equity in critical mineral companiesOur second segment features Tom Woolrych with his keen eye to detail and 3D modeling of exploration stories. Tom walks through a few specific companies making headlines lately. You can watch that interview and his presentation HERE.This episode of Mining Stock Daily is brought to you by... Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.comVizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
What this episode covers
MSD welcomes Bill Fleckenstein of Fleck Capital to dive into the markets, addressing the big sell-off in precious metals that followed Gold running up to $4,000 and Silver hitting $50. They explore the confusing narrative behind gold's recent outperformance, noting that its surge came despite events seeming "less bad" incrementally, suggesting it is catch-up and anticipation of future policy. Fleckenstein focuses on the risk of presidential control over the Federal Reserve, predicting policies like yield curve control, which he believes will likely be "negative for the dollar" and lead to "more inflation". This discussion leads to an analysis of the dangers posed by the desire of the "powers that be" to "run the economy hot," which inevitably leads to inflationary consequences and the dangerous misallocation of capital. Finally, they analyze the nature of the immediate correction, the hard sell-off experienced by the miners, and the philosophical debate over government acquisition of equity in critical mineral companiesOur second segment features Tom Woolrych with his keen eye to detail and 3D modeling of exploration stories. Tom walks through a few specific companies making headlines lately. You can watch that interview and his presentation HERE.This episode of Mining Stock Daily is brought to you by... Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.comVizsla Silver is focused on becoming one of the world’s largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at https://vizslasilvercorp.com/Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com
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Bill Fleckenstein: Misallocation of Capital Always Leads to Problems - PLUS Tom Woolrych is Back!
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