13 October 2025
Recorded September 12, 2025, this condensed version of Ted Oakley’s full Kitco interview with Jeremy Szafron bridges the gap between market euphoria and underlying stress.
Ted argues that fundamentals still matter, “a dollar is still a dollar," and outlines why smart money is positioning in energy, gold, and cash as distortions, leverage, and passive flows overtake valuations.
Oakley explains how passive, algorithm-driven markets mask real fragility, and why investors must pick and choose what they own instead of blindly chasing indices. Since this interview, gold has surged above $4,000/oz for the first time, confirming his forecast’s urgency.
The Fed also delivered its first rate cut of 2025, and some energy stocks are showing renewed strength amid inflation and geopolitical risk.
