‘Global Monetary Order Is Changing’: Investor Explains The Selloff And What’s Next | Darrell Thomas

This is the reality of what we're seeing, a K-shaped economy, close to a thousand bucks in a month.

That's not common for gold. We are getting some speculation in this space.

I just kind of wrote it off as like a anomaly.

Now, what are the reasons that somebody would be holding gold or even buying more today?

So, 2026, I mean, the biggest thing to understand is that...

It's my pleasure to welcome to the show Daryl Thomas, host of the VRIC Media YouTube channel.

He's got a great show of his own. Check it out.

Link down below. He's also invited me as a guest on his show.

So, I can put the link down there if you want to hear what I have to say during an interview.

But today's not about me. It's about Daryl getting Daryl's thoughts as an investor.

He's an investor just like you and he's trying to navigate these difficult volatile times,

probably just like you. So, we're going to get Daryl's insights as to what he's doing with his

money and hopefully we can learn from him as well as I'll be sharing some of my thoughts as well.

Thank you very much, Daryl, for coming on the show. It's good to see you.

Yes. Good to see you. Good to recognize you on virtually today.

You know, obviously at the VRIC, David had come up to me and said,

Hey, Daryl, how you doing? And David and I, we've talked before and engaged before,

but I did not recognize him at night and sometimes a couple of adult beverages would do that to me.

Right. I'm happy to be here.

I am fascinated by stories and articles like the one I'm sharing on my screen right now.

This is from oilprice.com and there's a contributor who wrote a piece called Six Stocks,

I could soar in an era of regional instability. Now, as you'll probably guess, given that it is

from an oil site, the first one is an oil company, Occidental Petroleum, number two,

Realoys, number three Lockheed Martin. Okay. Well, that's going up a lot. CF industries,

number five, MP materials, number six, Palantir. Now, we are not going to, the purpose of this

conversation is not to discuss these thoughts, is to get your take if you were to write a similar

article. So what are your picks, your top picks for regional instability, which seems to be the

theme du jour of March. Yeah, regional instability. I mean, my top pick is Gulp. You know, I think,

with the amount of D dollarization that's still happening, I believe that this conflict that has

escalated with the US and Iran will continue to drive central banks out of the dollar.

And such and so, that's my top pick. It's a physical gold. And then obviously, I'm also into the

gold related equities. I think that the gold price is not reflecting this geopolitical crisis.

It did run up to front front run it. But obviously, it's been sold off a little bit and it's been

leveling out. So that's my top pick. You know, I'm always going to advocate for selling money,

always advocate for money that the government's can't print. And so that's my top pick. When it comes

to comes to oil, I'm obviously looking at what are some of the plays that are not getting a lot

of love. I mean, obviously, we see the stocks on that on that particular list,

many of those stocks have made significant highs and such. We see the big major producers exon

and such. They have, you know, run up since these since this conflict. So I'm looking at some of

the oil royalties and such. So I have a little bit of exposure to oil through Frank O'novata,

which is obviously a gold, you know, majority gold and civil royalty company. But they have some

oil royalties and then also a vibrant energy. That's something that I'm investing in as well.

So oil royalty company also have some land royalty companies that pretty much lease land to

some of these oil companies such as Texas Pacific land and as well as land bridge. So those are

some of the companies that I've kind of dove into because, you know, they have a lot less risk

than some of the other companies that we see on this list. And so those are some ways that I'm

playing this conflict. How did the land leasing companies work? How do they make money?

Well, yeah, pretty much. I mean, they buy land. They have an infrastructure and the oil companies

that do the drilling and stuff. So they have to lease the land. So you're pretty much paying the

the landlord to operate as a business. And so that's the same thing that I kind of use with

even some of the, I've been buying the exchange stocks, you know, such as the exchanges that

own the New York Stock Exchange and such. Because when you think about it, a lot of people think about

the stocks themselves or the cryptocurrencies themselves and they don't really think about

the companies that operate to where you could trade those cryptocurrencies or stocks.

And so when I got this analogy from my friend Benjamin Dimazi, where he talks about, think about it

as owning the roads and the toll booths, toll booths, rather than owning the cars that are driving on

the roads and the toll booths. And so that's kind of been something that I've been adding to my

investment philosophy in such as of recent months. I want to talk about gold first. So you have

sizable allocation of gold. First of all, since when have you been invested in the precious metal?

I see I bought started buying gold in 2020 that was at the height of the pandemic, everything

shutting down and everything. And that was when I started learning about it too at the same time.

And so as soon as I learned about gold, I picked up the thesis very quick. I picked up the history

very quick. It was simple. You know, all I had to do was make a purchase and buy the physical gold

and store it. And so that was the easiest way for me to get started. And so I've been buying since

2020. I'm actually still buying today because I think the gold price is going a lot higher than

where it is today, considering the amount of debt deficits. We've had, you know, I'm a United States

citizen. So we've had a doge come in and absolutely fail. Well, I mean, they cancel some future

contracts or whatnot. So I guess they saved Americans money or whatnot. But I knew they weren't going

to be able to cut two trillion. And so that's, I mean, that's another, you know, bullish reason for

why I'm on and go because the deficits are going to continue to rise. President Trump said he's

adding another 500 billion to the military budget. I think he wants it at 1.5 trillion in such,

which still paying a significant amount of interest on the debt and such. And so I just don't see

no way out of this. And so for me, it's all about becoming my own central bank. Think back to the

moment in 2020 that persuaded you to buy gold. Just remember that moment. Tell us what it is.

And I'm going somewhere with this. Yeah. So, you know, I started by reading the wrist app for that.

And then I started going down the journey of, yes, that's where I was. And I started going down

the journey of watching his YouTube channel where he was bringing on some of the guests that we

interviewed, the Lynn Alden's George Gammons and such. And they pretty much would lay out the case

for gold. And so then I began reading the book, The Power of Gold as well. And so those are just,

it was a collective of moments that really brought to my mind like, okay, well, one thing is,

it's something that's outside of the financial system. And which we know that the financial system

is controlled by elites, you know, politicians that serve their own interests, especially thinking

about during COVID, you know, when they're building out the airlines and these big corporations,

which is anti-capitalists. And so for me, it was like, okay, let me go ahead and buy something that's

outside of the system that's hard money that's been around for thousands of years. I mean, gold is

mentioned in the Bible. It's mentioned in multiple historical books and such. And so, and it's still

to test the time. So that was, that was the reason why I decided to park some of my capital and save

in gold. Before we continue with the video, let me tell you about gold's performance relative to

the rest of the markets. Now, gold's up about 80% over the past 12 months while the S&P 500 for

example is up only about 16% in the same period. Now, that's not a small gap. That's a huge difference.

So if your retirement account is concentrated in equities or any one particular asset class,

well, that difference directly impacts your long-term trajectory. Because when gold dramatically

outperforms during volatile equities markets, it often signals capital rotation, not noise.

Right now, that rotation is visible. Major banks are already outlining gold scenarios in the

$6,000 to $6,300 range. And this isn't about abandoning stocks. It's about whether your IRA or

401K has exposure to the asset that's actually gaining momentum right now. Or if you're fully

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in the description down below. The reason I asked this question is I want to think about

I want you to think about right now. So you bought gold in 2020 and anybody who's bought gold in 2020

is up. Let me just see 240% in the last five years assuming well actually that's that's the high

of 2020. If you had bought in the beginning of the year, that's 250%. Anyway, you were up a lot

of assuming you didn't sell. Now, what are the reasons that somebody would be holding gold or even

buying more today? Because those reasons you talked about were 2020's reasons. What about 2026, Darryl?

So 2026, I mean, the biggest thing to understand is that the global monetary order is changing significantly.

And Ray Dalio talks about this a lot and he's been on the and not the world of economic form and

many of these places where he's trying to educate people on this. And so when we think about

these systems, when Bretton Woods was agreed upon to Nixon taking it all off the gold standard,

these are huge events. And right now when you see central banks around the world that have the

most capital, buying tons of gold, that has to be a signal. They are doing this for a reason.

So I think that oftentimes the average people do not get this information until it's like too late

or the gold price moves up significantly. So I've been following central banks buying gold since

2022. And so for those that haven't been following that, they may see the gold price. So

well, it's moved up 200%. What a thing is, it's like you got to view gold as money, money itself,

right? And and fiat currencies as currency. And so that's that's how I view that.

How high does gold have to go before you start taking profits or say enough's enough?

I just got to try it up here for reps. Yeah. Yeah. So one thing is I don't really look at the price

of gold as far as physical gold. I look at the miners. So that's that's where I want to maximize my

fiat savings in the gold miners. And so that's the way I look at it.

Well, sorry. What does that mean? You don't look at the price of gold. So you don't you don't care

if it goes to 6,000 or 7,000. You're the whole either way. Like you're never going to sell.

I'm never going to sell unless I mean gold. If gold in let's say if the doubt of gold ratio goes to one,

I may I may sell some gold for the doubt. If the S&P to gold ratio, you know,

significantly declines that I may sell some gold for the S&P. So it just kind of depends on

what other assets do in relation to where gold is because gold does have these

these times where you know, it gets very frothy. We saw that back in in January at V-Rick,

right? When folks were like, you know, Silver's at $117 and then, you know, a couple weeks later,

you know, let's start a conversation about this. You know, I'm not full disclosure. I'm not

invested in any of the public companies. I don't hold gold myself. You know, I've been pretty

public about the fact that I don't hold metals. That's because I'm personally investing in my

own business. So that's that's my investment. But the other thing is right now this is in,

you know, fear for the debate me right now. I wouldn't buy any gold at current levels.

That's just me. I'm not saying that there's not going to be a chance for it to go higher in the

long term. But I'm waiting for a pullback. If you look at the charts here in 2011, gold has done

exactly what it's doing now, which is double top fall by the order of 2016 20% go back up a

little bit, right? And then fall another 50% and stay low. It did that in 1980 as well.

Right. You got this double top when now 50% went up and then it went down another 70, 60 something

percent and stayed at the bottom. So it's become less and less volatile over the past couple cycles.

But look what happened in the last couple of months. So top, then it went down 20% in the beginning

of February when I first saw you at VR, VRIC. And then now it's, you know, it's climbing back up,

which is the same pattern that it was exhibiting in late 2011. So I'm looking at this and it's done

the exact same thing. It's done in the last two, two bull cycles. And I'm thinking to myself, well,

history doesn't repeat it in my rhyme. And, and, and I'm waiting for that pullback before I get

in on some more. So that's my theory. What do you think for your footed disagree?

Well, I think, I think I think some people waited for pullback when it was at 3000 and 4000. And

many people were saying, like, oh, it's going to pull back. It's going to pull back. And so at what

point does someone, you know, think that, okay, because the thing is, like, you can't time tops

or bottoms, right? It's, I mean, no one's, no one's perfect at that. I think those who have

claim to do that may have got lucky or they're fine. But, you know, the thing is, it's like, okay,

even if I have a sell off, you know, for me, you know, it's like, okay, I'm continuing saving my money

in real money. I'm trading fiat for real money. And so that's, that's how I view this. And

longer term, you know, we could see, you know, with the amount of deficits, right? You got the off

balance sheet liabilities of many nations, but the US in particular, I mean, you got over 100

trillion in off balance sheet liabilities. So, you know, me looking at that and looking down

the line, it's like, okay, well, I want to make sure I'm out of these fiat currencies because we

know that the fiat currency is going to lose value over time. And so for me, I made it a habit of

buying gold. And so obviously my cost per ounce continues to increase at these levels. And I'll

buy more when it does fall. But I think that, you know, people that have said, oh, it goes at 3000,

you know, I'm going to wait for it to sell off before I get in. And then they hit 4000,

I'm going to wait for it to sell off to get in. And so now, I mean, people are repeating that same

thing. And they have to consider, okay, well, what's the price point you're going to get in? And

what is the reason you're getting in? You know, and so you could even buy a little bit and still hold

some liquidity. And then if we do get a sell off, you know, load up the boat even more. So,

I think that there's multiple ways to think about that. The common argument against Bitcoin

as a savings asset or a store of value is that it's very volatile intraday. And over the period of,

let's say, a rolling average of, let's say a couple of weeks, a couple of months, okay. And that

means that it moves up and down a lot in layman terms. So the argument for holding gold is that

it doesn't do that. However, we just saw it do that this year. It went down 20% in one day. Not

that it's a common occurrence. But when I reach the top of $5,500, it went down 20% the day after.

Now, when you see an event like that, does that kind of change your sentiment on holding gold

long term? Or not so much? No, it doesn't. Not so much because, you know, I mean, when you look at

any other metric, you see that, you know, that average retail investors are coming into the space,

but they're it's not exuberant to that degree. I mean, because the miners are still still,

you know, relatively cheap, you know, when you look at their all-in sustaining costs,

compared to what they are selling every gold ounce that they produce for now. And so,

when we saw it January, you could see that gold moved up over what was like close to a thousand

bucks in a month. That's not that's not common for gold. You know, so when you look historically

how gold moves, you would see like, okay, it doesn't typically move up a thousand dollars in a month.

And so for me, when I was watching that, I saw, yeah, this is getting away too frothy. We are

getting some speculation in this space and such. And so I just kind of wrote it off as like

anomaly. I mean, a thousand dollars in a month for gold, you know, that's a lot. Fair enough. And

what type of investor would you consider yourself if you were to characterize your investing style?

Yeah, so I'm probably conservative slash risky. I mean, there's a component of me that,

you know, wants to compound over time, which I believe is important. Also, I know that,

you know, when you look at the risk rewards, I mean, I'm invested in some of these junior

exploration companies, right? And those are some of the riskiest companies, but time horizon on that,

I think, you know, probably I'm willing to hold for the next three, three years, you know,

to see see what it happens. So I'm kind of always watching the markets, you know, so I think three

years, we'll see many investors come into the gold and mining stock space. And so that's kind

of my time horizon for those. Okay, so when you buy mining companies, let's talk about maybe the

junior space. Are you are you banking on a takeout? Are you banking on them? You know, just finding more

deposits? Are you are you betting on them eventually heading into production? Like what's your what's

your thesis for buying juniors here? Yeah, yeah. So I mean, obviously, you know, you have some

developers, some exploration companies. The way I kind of approach it is, I follow the big money.

So I'm looking at what is Fiori group doing? What is Frank juicer doing? What is Rick Rural doing?

What is Eric Sprott doing? You know, so I'm always kind of looking at the big money in seeing which

companies have big money that are back in them. So that's that's like one piece where I'm always

looking at the percentage of shareholders ship shareholders, you know, with institutions as such.

And so I'm looking at the big money. And then I'm also, you know, obviously looking at, okay, what's

the project? Is it a safe mining jurisdiction? Is it, you know, and does the CEO has a certain degree

of success? What's the track record of the CEO and such? And so, you know, when I'm, you know,

at V-Rick, you know, I was on stage with Ross BDM Bob Korderman, who have had significant success.

So it's like, okay, well, those are some CEOs right there that I'm willing to, you know, bet on.

You know, so you have to like, for me, you know, it's really looking at, okay, who's running the company?

Where's the company located? And also who's back in the company? And so those are kind of ways

that I look at it, but I'm also mostly in the royalty and streaming space because it's a lot less

risky than some of these junior aspiration companies and such. And I have more exposure there.

The notion that fiat currency is going to continue losing value, which is what you said earlier.

Why do you think that is? Yeah. Why do you think if failed inflation can't stabilize?

Well, I think that politicians always want to print. They will always want to overpromise. And

right now, we're experiencing the triumph of politics, if I were to quote David Stockman's book,

where politicians are, they have to serve their constituents, right? And their constituents

want free stuff, essentially. They don't want higher taxes, you know, in such and so,

to try to come in and be, you know, to drain the swamp, you know, instead of adding swamp creatures to

the swamp, and then try to balance the budget, you know, to cut entitlements and things like that.

That's political suicide and no politician that wants to be successful is going to do that.

We're both living in Canada. Last week, the jobs numbers in the US, 90,000 jobs lost.

Wasn't looking great. And people often talk about how the Canadian economy and the U.S.

economies are slowing down. Do you feel any of that personally? I'm going to tell you personally that

I was just out east in Montreal, made a trip there. I was living in Montreal for 14 years.

I'm currently based in Vancouver. I haven't been back to Montreal since last April, so it's been a year.

Now, a lot of my favorite restaurants, bars, cafes, small businesses, a lot of them were closed.

In fact, I was just shocked at how many stores got closed and had, you know, big

planks of boards over the front. And I was talking to some people there who know the economy

better than I do. First of all, it's very seasonal out east. When there's a winter season,

people go out less. People were recovering from its march. People were just recovering from

their winter holiday spendings. And it's also spring breaks. A lot of people are away.

But business doesn't close just because these factors, they close because business has been

good for several months. I was out in a Friday night at a popular bar. And that bar would have been

impossible to even get in or book on a Friday night. I walked in. It was half empty. Again, spring

break. But I've been out spring break. It wasn't that quiet. That's just my personal assessment. I

just noticed that people are spending less money on discretionary items. And if I were investing

in the market right now, I rotate into consumer staples. I rotate into, let's say, things that

haven't gone up as much as gold. Let's say the small caps, Russell 2000 and the mid caps.

That's my observation. What do you think is going on in the economy based on what you've

observed in your personal life, Darryl? Yeah. Obviously, I live in the U.S. so it's a little,

we kind of have similar circumstances, but they are different in some ways. But I have some friends

who are struggling to make ends meet and have a good friend of mine that I've known since he was

a kid. Been in an agile struggling to get a job and he finally got a job at pretty much

a fast food restaurant. I definitely see the pain on the streets that average investors

are average people are experiencing with higher costs of living in such a way just not keeping

up with inflation and things of that nature. And so when you think about it on the macro scale,

we hollowed out our industrial base. We've printed money. We've bailed out banks and such. We've

devalued the currency significantly. And this is the reality of what we're seeing. A K-shot,

K-shaped economy. And so oftentimes when I see these kind of arguments with the boomers,

they hold majority of the wealth and such. And I see people comment things like,

oh, well, they were able to do it. You could do it too. And I think about it, I said, well,

if you look at the macro and the situation that many of the boomers experienced, they grew up

in an America that had way less inflation. The dollar had way more value. And such home values

were significantly cheaper. Government debt and deficits were a lot lower. And such. And so they

grew up in an era where they benefited. And so now you're getting kids coming out of college who

can barely find a job or can barely find a job within their field or find a job that could pay

to bills. And so, yeah, it's definitely a problem. So you host a show, the RIC media, you've had a

lot of really smart guests on what's a common message you've been hearing in the last two months.

The last two months, one thing I didn't really pay attention to, but it was mentioned a few times

in some of the conversations I had was about the Iran conflict, you know, some really good geopolitical

analysts that we've had on have been calling for this. And so that was something that, you know,

kind of made sense to me later was like, oh, this is what they were talking about.

Other consistent themes is obviously de-dollarization and how the world is shifting

back to sound money. And we see that in the data. So, and I'm looking forward to the conversations

I'm going to have with Silver Institute and a representative from the World Gold Council on that.

And so we see that in the data, right? And so those are the common messages.

Are you looking for specific indicators that may tilt your investment style or strategy one way or

another? In other words, what are you asking guests these days that would benefit you as an investor?

I'm looking for the hated assets. And so you and I were friends with Rick Rool. Rick Rool is a mentor of mine.

And he's been talking about oil being a hated asset for a long time, right? For months.

And so, you know, I pay attention to that when someone of his caliber, you know, says something

of that nature. And so when he said that, you know, and then now what we're experiencing, we're seeing

like, oh, this hated asset turns out to be one of the global cornerstones, you know, of one of

the cornerstones of the globe, you know, as far as economically. And we can probably see, you know,

$200 of barrel oil in this conflict and such. I mean, even the Iranian Army military person

came out and said, the world needs to prepare for $200, $200 barrel oil. And so, yeah, I mean,

it's something that I think is serious. And in the macro landscape of that, I'm looking at the 70s.

Okay, what happened in the 70s? You had job losses and you had high oil prices. And so, you know,

we could see a stagnationary environment. And so I'm just looking at how to position myself in a way

that could even benefit from that. But there is a lot of uncertainty right now. And you got to be

nimble. So I'm holding us, you know, I'm holding more cash nowadays and tea bills short duration

treasuries. So I can earn a yield and just see what the market does because right now there's a lot

of volatility. And I'm just trying to see, okay, what direction is the market taking? You live in the U.S.

So tell this, Darryl, what do you think the government should be spending money on that could help

regular citizens? The government should be investing in our infrastructure, you know, our grids,

you know, things of that nature, also investing in mining, the stuff that we need. Obviously, if we are,

if we are, you know, relying on China, who we're fine to about 90% of the world's where

earths and these are these are critical minerals to the livelihoods and global militaries.

You know, we need to be investing in that. You know, that's one thing that I can, you know,

give credit to President Trump for even though, you know, I'm not a guy that's very fond of

politicians, you know, for him to even bring that into conversation and have those conversations.

Now do I agree with the trade policies? You know, not necessarily, but you know, I do think that

we need that infrastructure and we need that investment back into those jobs to where people can,

you know, people used to be able to could work a job and take care of the whole family and

afford a home and such, you know, when these jobs were here in the U.S., but as far as we're showing,

I mean, I just think that it's going to take trillions of dollars. So, you know, there's going to be

a lot of money printing that's needed for that. I'm going to finish off in a load of question.

How is it that 50 years ago, the average American household could have been supported by one

person working. They could have had multiple cars and people could have bought a house straight

out of college. And I had a guest on Steve Hanky, a professor of applied economics, John Hank,

a Johns Hopkins, who my audience may be familiar with. And he told a story of how when he graduated from

university, he was able to save up the money from just working three jobs during college to buy

not just one apartment, but an entire apartment complex right after university out of his college

savings. No, that's an extreme example. And I'm sure he worked hard. But then similar stories

could be told in the 60s and 70s as well. When people bought homes at a much younger age, people were

able to start families at a much younger age. And now because of the unaffordability crisis,

we have people actually delaying family formation because they're not able to afford a home and

even start a family. How did this happen? There are. If you had to sum it up. Yeah. Yeah, well,

obviously you had a globalization that contributed to it. And many jobs were sent overseas.

And in that same token, you know, wages have not kept up with inflation and the loss of the

purchasing power of the dollar. And so, you know, you have all those dynamics. And currently,

you know, we have some different situations where people are living longer. So the wealth,

you know, that the baby boomer general generation has, you know, we keep hearing about the word

wealth transfer. But you know, when you think about it, okay, when our people are living to their

90, 80, 90, right? And so, you know, so that wealth is still, you know, tied up in a lot of ways.

And so, you know, those are some of the things that I think are happening and how it compares to

now. I wonder if we're ever going to go back to those days. I don't know. Come in below. What

do you think is going to happen to the future of American society? And always, as always,

thank you for watching. Where can we follow you, Darryl? Yes, you could follow me on X at money levels,

plural show, money level show. And then also you can check us out on YouTube at Vigric Media,

VRIC Media. And that's where we're doing interviews such as interviewing you yourself, David Lin. So,

I hope to have you back on the show too. Right. All right. Thank you very much.

Appreciate it. Darryl is a lot of fun. And thank you for watching. Don't forget to like,

subscribe, follow Darryl, comments down in the description down below.