Part 5/17:
He explains that many commodity prices are not at all-time highs when observed over 10-15 years. Instead, we're experiencing a rebound from a prolonged period of oversupply and underinvestment in mining and exploration, leading to potential long-term cycles of commodity shortages and price hikes. For example, while gold touched record highs in 2020, overall commodities are still within 10-15 year bear markets, and current price surges are often due to logistical issues rather than broad inflationary pressures.