Rare earths are abundant — the bottleneck is not extraction but processing, where China holds all the technological know-how — and silver, critical for solar and space applications, has only three years of above-ground inventory left given the current 200-million-ounce annual deficit.

Dreyfus explains that rare earths are everywhere in the earth's crust — the problem is China controls the conversion technology. Meanwhile, silver faces a 200-million-ounce per year supply deficit with only 600 million ounces of above-ground inventory remaining, creating a three-year timeline before stockout, threatening solar panel production and space-based data centers. ✦ AI generated

Dan Dreyfus · All-In Podcast · 2026-06-10 · original ↗

Rare earths are everywhere. And the technology to extract rare earths is going to allow us to have a huge abundance of them. But the problem is processing them. That's the problem. The Chinese have all the technological know-how to convert what you take out of the ground and convert it into something that we can use... For our kids, and for the country, generation tool belt, for us allocating, get some exposure to copper, silver, minerals. And then there's a bunch of service providers in and around that area that we should be investigating over the next year. Don't forget the labor, the service providers. Right now, the silver supply-demand dynamic is we consume a billion and two ounces a year, we supply a billion ounces a year. So there's a 200 million ton deficit per year, and we only have 600 million of above-ground inventory left. So the clock's ticking. We've got three years left, guys, before we just stock out.

verbatim transcript · starts at 29:15