05
Dec 2025
Before the Collapse: Gold, Grace, and the Choice Before Us
Years from now investors will look on the headlines from this week in amazement, mystified at the irony of what just transpired, asking future generations how could people have so completely missed what was so obvious?
Here is a link to an interview that Michael Burry gave this week, the first one he has done in a decade. Recall that Burry had been profiled in the epic Hollywood finance thriller, The Big Short, for correctly identifying the ‘08 Crisis and positing his investors to profit handsomely while most investors, and virtually all investors who worked with financial advisory firms were crushed:
Michael Burry Interview - December 2025
A few highlights to call to your attention from the interview:
· Burry says Bitcoin and crypto are worthless
· The stock market is in a worse predicament today than it was before the great financial crisis of 2008
· The market conditions are so dangerous that investors who are long stocks (think every mutual fund, virtually all 401k’s, most pensions, endowments, charities and the vast majority of financial accounts overseen by financial advisory firms) will not be able to protect themselves. Burry’s 13F posts show that 80% of his portfolio was short technology stocks.
· Burry has owned gold for years and continues to own gold
The irony of the moment seems prescient.
Think back to a few months before the great financial crisis in ‘08. The esteemed CEO of Citigroup, Chuck Prince, downplayed market concerns and told his investors that subprime issues wouldn't disrupt, saying: "As long as the music is playing, you've got to get up and dance. We're still dancing." Prince’s argument was that ‘07/’08 was different than other periods in financial history because technology was giving the markets liquidity pools were so large, a disruptive event was unlikely. Market concerns were overrated. Prince resigned months later after Citigroup was crushed.
At the same time Bear Stearns was still a multi-billion dollar Wall Street institution and told its investors and clients there was little chance of the housing market suffering any sort of decline. When testifying before Congress months later, Bear Stearns’ CEO Alan Schwartz said they had not realized housing prices had been driven to unsustainable levels.
Really? Did you fail to look at any historical data or perhaps Wall Street’s systematic failure to alert investors of the risks in the markets was because doing so wasn’t in Wall Street’s self-interests? In contrast in ’07 Burry accurately foresaw that the mortgage market would soon collapse, making his clients fortunes.
And here we go again. This week contrasting Burry’s cautious comments about the markets being worse off than in 2008, building off his previously bearish comments of the tech sector where he sees scam accounting, and with his bearish comments on crypto saying BTC is worthless, consider the news from the following multi-trillion dollar asset management firms this same week:
Bank of America / Merril Lynch went to 4% crypto allocations
Schwab announced it is launching its bitcoin trading strategy
Vanguard reverses policy allowing crypto investing
This push into speculative assets comes at a time when equities are already at all-time rich valuations on multiple metrics including the 1929 and the 2000 bubbles.
We see polarization of thought – Burry joins his name to a who’s who list of investors saying gold allocations are warranted at this time. This week we also saw new data showing central bank gold purchases reached 53 tons in October, a record amount in 2025.
In contrast we see the investment advisory firms who guide America’s working class once again positioning clients aggressively, if not recklessly.
Expanding on Patrice’s market summary, major news that will impact US markets is unfolding from Japan where their central bank just reported record losses as Japan is no longer able to contain interest rates near 0%. Japanese 10-year yields are now approaching 2% while 30-year yields are 3.4%. Why is this significant? So many investments globally were sourced with Japanese funding because the borrowing costs were close to zero and the nation was committed to keeping rates at that level by buying its own debt. If that sounds like fishy behavior it should. And when one realizes that the Japanese central bank has amassed over 50% of its own bonds you realize the breadth of the shell game that has unfolded in finance today. Rates rising from 1% to 2% may not seem significant but realize that is a doubling in interest expense. Imagine if the interest expense on your mortgage doubled. For many it would force them to walk away from their homes. This is the same reason why America saw the implosion of commercial real estate values on bank balance sheets recently as aggressive developers could not afford the higher borrowing costs when US rates rose.
As Japanese investors who are 3rd wealthiest in the world realize they have essentially committed kamikaze finance for their nation, buying bonds doomed to lose value, they will look for something safer. When this lightbulb goes on, 80% of Japanese investors will realize they do not own any gold. And among those who do, most have allocations of less than 10%, well below optimal levels.
This scene will repeat in the UK, and in Europe. But if just Japan alone which controls $15 trillion in financial assets, allocates 5% to gold, less than ¼ of what has been optimal this century, Japanese savers alone would consume almost two years of global mine supply at recent prices. Those numbers are not too dissimilar when Americans and Europeans reach for 5% gold allocations.
The only way investors can get to appropriate allocations to gold globally is if the gold price moves dramatically higher. Don’t procrastinate. Premiums on gold ironically have rarely been cheaper and investors can now buy most form factors including gold eagles below sovereign mint cost.
Many own paper gold and silver having been told by advisory firms that it is cheaper than owning physical. Setting aside the shortcomings of that thinking for a moment, with premiums so low, for many forms the payback to convert from paper gold into physical can be two years. This opportunity will not likely be present for long.
Switching gears but directly related to paybacks we should consider, let us reflect on the extraordinary spiritual events of the next few weeks.
The choices we make now like seeing an investment portfolio to harvest in the years ahead, will impact our eternity. Unlike at many times throughout history we are able to tap into the Holy Spirit and to influence history including unlocking the graces to bring many who you love to eternity. Make no mistake, without your “yes” many will not have the grace to make it to paradise.
Which begs the question, just as we seek to optimize our portfolios focusing on the investments that will bring us the best return for the risk, we should study what should one do to maximize our impact for Heaven and our position in eternity? As Christians we need to have clarity and unity on this all-important question.
To be a Christian (or a Jew for that matter) boils down to a three point lifestyle or as we talked about in our last live episode in greater detail (Ripcord Moment):
1 – Repent
2 – Pray
3 – Fast
If we don’t repent nothing else in our spiritual lives matters because our offense is so upsetting to the Lord. Remember Jesus’s haunting words that he would rather endure Good Friday all over again before seeing The Father, offended with one more mortal sin. Those words are beyond comprehension and deserve our reflection.
Praying is simply carving out time from the god of our calendars and committing an hour a day to be with the Lord at a minimum. If you can’t make the time for him, be honest with yourself and be honest with the Lord that He is not your God.
And fasting in contrast to what we hear from the pulpits is at a minimum a weekly endeavor done on bread and water as the apostles lived every week. Recall The Way of The Apostles specified that we are all obligated to fast each Wednesday and Friday. It is physically easy to fast on bread and water, yet it is the only way to overcome evil. The Lord expects much of us as Christians yet less than one percent of Christians respond to the Apostles explicit mandate and fast weekly. You want the glory and the beauty that will surround and transcend those who make the effort as Heaven has shown our existence in eternity will reflect our response to the gospel call.
Which leads to also timely consideration as to the topic of charity and charities as 2025 draws to a close. Jesus was clear that not all charities are created equal, and there was only one charity that mattered to Him. The only charity He would die for is the salvation of each soul.
So if you contribute to the local rescue with your charity, if you contribute to feeding those who your church holds up as unable to work but who you know little about, if you contribute to a college scholarship fund let alone NIL funds, pause and be honest with yourself - none of these matter to Jesus in comparison to the one charity of evangelizing. Don’t be upset with me for saying this – Look at the gospels. Jesus didn’t build one homeless shelter, feed one person who did not work, encourage education or promote medical research. If you think He made a mistake tell Him! If you want the best return on your charity though that will impact you throughout eternity – get on board with Him! It is that simple.
Let us with part selfishness also remember that scripture only talks about one behavior, one charity, that will lead to the cancellation of our debts due to our personal sins. That is leading others to repent, which is again the charity of evangelization, so a double win for you if you shift your focus to what Jesus emphasized…
"Whoever turns a sinner from the error of his way will save his soul from death and cover a multitude of sins" – James 5:20
So while there are many good charities that focus on evangelization, allow us to highlight a few that even non-believers should support as their donations will as mentioned above contribute to the erasure of our sins because these charities specifically exist for one purpose – to lead souls to Jesus.
Walking with Purpose - a prayer group specifically for women that fills the gaping void in the Catholic Church of scriptural ignorance and the lack of fellowship among female believers. The impact of Walking with Purpose has been nothing short of stunning in its ability to restore families, mend hearts, and transform women in this program that has both a local and an online presence.
Live Vertical - The lack of Christian formation in Catholic schools has been an absolute victory for satan. Catholic students emerge from 12 years or more of Catholic education without a relationship with Jesus, ignorant of scripture, and ignorant of the essentials of the faith. Destroying the faith of the Catholic youth has been a priority for the many Catholic bishops who are satanic worshipers in disguise endeavoring to destroy our church and evil has tragically succeeded before our eyes. Live Vertical steps into the rubble of Catholic school formation, sending witnesses to Catholic schools who love Jesus and who preach the gospel as opposed to the drivel that is so deadening in study materials promoted by our bishops. The cultural transformations at each school where Live Vertical is present is again stunning and gives incredible example as to how quickly we can restore our churches, a precursor to restoring our nation. Anyone who is dismayed about the future of the Catholic Church needs to look no further than Live Vertical for evidence as to how bright the future is for the church when just a few repent and honor the Lord.
The National School Chaplain Association - This incredible organization steps into the heart of the battle seeking access directly in public schools across the country to witness with students. Their masterful structure seems inspired by the Holy Spirit as they are federally protected and entitled to promote the Lord, have grown to the point of now having over 30,000(!) chaplains on staff and are pushing even into the communist reaches of California. NSCA’s impact is also stunning. Statistical improvement in virtually every quantifiable category from suicides down to less severe maladies that are clearly plaguing public education manifests when NSCA chaplains are present. Their potential impact on the youth on a national scale may be unmatched and should be a priority for all believers to protect and advance this organization. NSCA’s plans for next year are ambitious. They are specifically looking for $100,000 in Gold, Silver, or fiat currency by December 31st to ensure they are staffed to respond to the newest requests for Chaplin presence in public schools that have been made of them. Let’s make sure they get that amount before December 31 as the moment is at hand for great advancement in public education. The Apostles did not have the opportunity to evangelize to so many as we do with this effort – so many youth have been lost we want to shepherd home as many as possible.
Recognize the importance of focus-if you support those organizations, children will gain eternal life who otherwise would not.
There is nothing more important for us to do and no higher obligation for us as stewards than to pursue that goal with our charity.
There are no coincidences and as we penned this article on December 3, 2025, the most studied gospel in the world was Mark 16:
15And he said to them, “Go into all the world and preach the gospel to the whole creation.
16He who believes and is baptized will be saved; but he who does not believe will be condemned.
… The Greek word for believe used here is pisteuō. Our dear Protestant brothers, and even many Catholics need to understand this word that is poorly translated in English as “believes”. It implies commitment, trust and action... are required!
Happy Advent. God bless and God bless America.
Past performance is not indicative of future results.
Here is a link to an interview that Michael Burry gave this week, the first one he has done in a decade. Recall that Burry had been profiled in the epic Hollywood finance thriller, The Big Short, for correctly identifying the ‘08 Crisis and positing his investors to profit handsomely while most investors, and virtually all investors who worked with financial advisory firms were crushed:
Michael Burry Interview - December 2025
A few highlights to call to your attention from the interview:
· Burry says Bitcoin and crypto are worthless
· The stock market is in a worse predicament today than it was before the great financial crisis of 2008
· The market conditions are so dangerous that investors who are long stocks (think every mutual fund, virtually all 401k’s, most pensions, endowments, charities and the vast majority of financial accounts overseen by financial advisory firms) will not be able to protect themselves. Burry’s 13F posts show that 80% of his portfolio was short technology stocks.
· Burry has owned gold for years and continues to own gold
The irony of the moment seems prescient.
Think back to a few months before the great financial crisis in ‘08. The esteemed CEO of Citigroup, Chuck Prince, downplayed market concerns and told his investors that subprime issues wouldn't disrupt, saying: "As long as the music is playing, you've got to get up and dance. We're still dancing." Prince’s argument was that ‘07/’08 was different than other periods in financial history because technology was giving the markets liquidity pools were so large, a disruptive event was unlikely. Market concerns were overrated. Prince resigned months later after Citigroup was crushed.
At the same time Bear Stearns was still a multi-billion dollar Wall Street institution and told its investors and clients there was little chance of the housing market suffering any sort of decline. When testifying before Congress months later, Bear Stearns’ CEO Alan Schwartz said they had not realized housing prices had been driven to unsustainable levels.
Really? Did you fail to look at any historical data or perhaps Wall Street’s systematic failure to alert investors of the risks in the markets was because doing so wasn’t in Wall Street’s self-interests? In contrast in ’07 Burry accurately foresaw that the mortgage market would soon collapse, making his clients fortunes.
And here we go again. This week contrasting Burry’s cautious comments about the markets being worse off than in 2008, building off his previously bearish comments of the tech sector where he sees scam accounting, and with his bearish comments on crypto saying BTC is worthless, consider the news from the following multi-trillion dollar asset management firms this same week:
Bank of America / Merril Lynch went to 4% crypto allocations
Schwab announced it is launching its bitcoin trading strategy
Vanguard reverses policy allowing crypto investing
This push into speculative assets comes at a time when equities are already at all-time rich valuations on multiple metrics including the 1929 and the 2000 bubbles.
We see polarization of thought – Burry joins his name to a who’s who list of investors saying gold allocations are warranted at this time. This week we also saw new data showing central bank gold purchases reached 53 tons in October, a record amount in 2025.
In contrast we see the investment advisory firms who guide America’s working class once again positioning clients aggressively, if not recklessly.
Expanding on Patrice’s market summary, major news that will impact US markets is unfolding from Japan where their central bank just reported record losses as Japan is no longer able to contain interest rates near 0%. Japanese 10-year yields are now approaching 2% while 30-year yields are 3.4%. Why is this significant? So many investments globally were sourced with Japanese funding because the borrowing costs were close to zero and the nation was committed to keeping rates at that level by buying its own debt. If that sounds like fishy behavior it should. And when one realizes that the Japanese central bank has amassed over 50% of its own bonds you realize the breadth of the shell game that has unfolded in finance today. Rates rising from 1% to 2% may not seem significant but realize that is a doubling in interest expense. Imagine if the interest expense on your mortgage doubled. For many it would force them to walk away from their homes. This is the same reason why America saw the implosion of commercial real estate values on bank balance sheets recently as aggressive developers could not afford the higher borrowing costs when US rates rose.
As Japanese investors who are 3rd wealthiest in the world realize they have essentially committed kamikaze finance for their nation, buying bonds doomed to lose value, they will look for something safer. When this lightbulb goes on, 80% of Japanese investors will realize they do not own any gold. And among those who do, most have allocations of less than 10%, well below optimal levels.
This scene will repeat in the UK, and in Europe. But if just Japan alone which controls $15 trillion in financial assets, allocates 5% to gold, less than ¼ of what has been optimal this century, Japanese savers alone would consume almost two years of global mine supply at recent prices. Those numbers are not too dissimilar when Americans and Europeans reach for 5% gold allocations.
The only way investors can get to appropriate allocations to gold globally is if the gold price moves dramatically higher. Don’t procrastinate. Premiums on gold ironically have rarely been cheaper and investors can now buy most form factors including gold eagles below sovereign mint cost.
Many own paper gold and silver having been told by advisory firms that it is cheaper than owning physical. Setting aside the shortcomings of that thinking for a moment, with premiums so low, for many forms the payback to convert from paper gold into physical can be two years. This opportunity will not likely be present for long.
Switching gears but directly related to paybacks we should consider, let us reflect on the extraordinary spiritual events of the next few weeks.
The choices we make now like seeing an investment portfolio to harvest in the years ahead, will impact our eternity. Unlike at many times throughout history we are able to tap into the Holy Spirit and to influence history including unlocking the graces to bring many who you love to eternity. Make no mistake, without your “yes” many will not have the grace to make it to paradise.
Which begs the question, just as we seek to optimize our portfolios focusing on the investments that will bring us the best return for the risk, we should study what should one do to maximize our impact for Heaven and our position in eternity? As Christians we need to have clarity and unity on this all-important question.
To be a Christian (or a Jew for that matter) boils down to a three point lifestyle or as we talked about in our last live episode in greater detail (Ripcord Moment):
1 – Repent
2 – Pray
3 – Fast
If we don’t repent nothing else in our spiritual lives matters because our offense is so upsetting to the Lord. Remember Jesus’s haunting words that he would rather endure Good Friday all over again before seeing The Father, offended with one more mortal sin. Those words are beyond comprehension and deserve our reflection.
Praying is simply carving out time from the god of our calendars and committing an hour a day to be with the Lord at a minimum. If you can’t make the time for him, be honest with yourself and be honest with the Lord that He is not your God.
And fasting in contrast to what we hear from the pulpits is at a minimum a weekly endeavor done on bread and water as the apostles lived every week. Recall The Way of The Apostles specified that we are all obligated to fast each Wednesday and Friday. It is physically easy to fast on bread and water, yet it is the only way to overcome evil. The Lord expects much of us as Christians yet less than one percent of Christians respond to the Apostles explicit mandate and fast weekly. You want the glory and the beauty that will surround and transcend those who make the effort as Heaven has shown our existence in eternity will reflect our response to the gospel call.
Which leads to also timely consideration as to the topic of charity and charities as 2025 draws to a close. Jesus was clear that not all charities are created equal, and there was only one charity that mattered to Him. The only charity He would die for is the salvation of each soul.
So if you contribute to the local rescue with your charity, if you contribute to feeding those who your church holds up as unable to work but who you know little about, if you contribute to a college scholarship fund let alone NIL funds, pause and be honest with yourself - none of these matter to Jesus in comparison to the one charity of evangelizing. Don’t be upset with me for saying this – Look at the gospels. Jesus didn’t build one homeless shelter, feed one person who did not work, encourage education or promote medical research. If you think He made a mistake tell Him! If you want the best return on your charity though that will impact you throughout eternity – get on board with Him! It is that simple.
Let us with part selfishness also remember that scripture only talks about one behavior, one charity, that will lead to the cancellation of our debts due to our personal sins. That is leading others to repent, which is again the charity of evangelization, so a double win for you if you shift your focus to what Jesus emphasized…
"Whoever turns a sinner from the error of his way will save his soul from death and cover a multitude of sins" – James 5:20
So while there are many good charities that focus on evangelization, allow us to highlight a few that even non-believers should support as their donations will as mentioned above contribute to the erasure of our sins because these charities specifically exist for one purpose – to lead souls to Jesus.
Walking with Purpose - a prayer group specifically for women that fills the gaping void in the Catholic Church of scriptural ignorance and the lack of fellowship among female believers. The impact of Walking with Purpose has been nothing short of stunning in its ability to restore families, mend hearts, and transform women in this program that has both a local and an online presence.
Live Vertical - The lack of Christian formation in Catholic schools has been an absolute victory for satan. Catholic students emerge from 12 years or more of Catholic education without a relationship with Jesus, ignorant of scripture, and ignorant of the essentials of the faith. Destroying the faith of the Catholic youth has been a priority for the many Catholic bishops who are satanic worshipers in disguise endeavoring to destroy our church and evil has tragically succeeded before our eyes. Live Vertical steps into the rubble of Catholic school formation, sending witnesses to Catholic schools who love Jesus and who preach the gospel as opposed to the drivel that is so deadening in study materials promoted by our bishops. The cultural transformations at each school where Live Vertical is present is again stunning and gives incredible example as to how quickly we can restore our churches, a precursor to restoring our nation. Anyone who is dismayed about the future of the Catholic Church needs to look no further than Live Vertical for evidence as to how bright the future is for the church when just a few repent and honor the Lord.
The National School Chaplain Association - This incredible organization steps into the heart of the battle seeking access directly in public schools across the country to witness with students. Their masterful structure seems inspired by the Holy Spirit as they are federally protected and entitled to promote the Lord, have grown to the point of now having over 30,000(!) chaplains on staff and are pushing even into the communist reaches of California. NSCA’s impact is also stunning. Statistical improvement in virtually every quantifiable category from suicides down to less severe maladies that are clearly plaguing public education manifests when NSCA chaplains are present. Their potential impact on the youth on a national scale may be unmatched and should be a priority for all believers to protect and advance this organization. NSCA’s plans for next year are ambitious. They are specifically looking for $100,000 in Gold, Silver, or fiat currency by December 31st to ensure they are staffed to respond to the newest requests for Chaplin presence in public schools that have been made of them. Let’s make sure they get that amount before December 31 as the moment is at hand for great advancement in public education. The Apostles did not have the opportunity to evangelize to so many as we do with this effort – so many youth have been lost we want to shepherd home as many as possible.
Recognize the importance of focus-if you support those organizations, children will gain eternal life who otherwise would not.
There is nothing more important for us to do and no higher obligation for us as stewards than to pursue that goal with our charity.
There are no coincidences and as we penned this article on December 3, 2025, the most studied gospel in the world was Mark 16:
15And he said to them, “Go into all the world and preach the gospel to the whole creation.
16He who believes and is baptized will be saved; but he who does not believe will be condemned.
… The Greek word for believe used here is pisteuō. Our dear Protestant brothers, and even many Catholics need to understand this word that is poorly translated in English as “believes”. It implies commitment, trust and action... are required!
Happy Advent. God bless and God bless America.
Past performance is not indicative of future results.
