Episode notes
Mentor Sessions Ep. 081: Peter St. Onge and Larry Lepard discuss Fed rate cuts in 2026, AI industry bailout risk, Bitcoin price outlook,
US debt debasement, and gold targets.
The Fed's hawkish pivot is already unraveling — and Bitcoin, gold, and silver are the first to price it in. Peter St. Onge and Larry Lepard break down exactly why Kevin Warsh's tough talk is a script, not a policy, and what that means for sound money holders in 2026.
You'll learn why Lepard believes rate cuts are coming before the midterms, why the AI industry is quietly lobbying for a defense-contractor-style bailout, and why the monetary debasement trade is nowhere near dead — despite what the financial press is saying. You'll also get specific price targets for Bitcoin ($180K–$200K), gold ($7,000), and silver ($200), plus an honest breakdown of Strategy/MSTR and Michael Saylor's evolving playbook. If you're trying to understand where macro is heading and how to position in sound money, this is the conversation.
⏱️ Timestamps:
0:00 - Intro
1:00 - Warsh: Hawk or Secret Dove?
2:40 - Warsh More Dovish Than Rhetoric
5:00 - Balance Sheet Hawks Get Punched
6:25 - Rate Cuts Locked in Pre-Election
9:29 - Debt Forces Money Supply Growth
10:30 - AI Sets Up Government Bailout
13:43 - Bitcoin Volatility and Long View
14:25 - AI Crony Capitalism Playbook
17:28 - AI Commoditizes in Three Weeks
19:24 - Dot-Com Lessons for AI Buildout
29:03 - Legitimate AI Grievance Energy Costs
33:37 - Europe's Decline and US Advantage
37:18 - Japan Yen Debasement Midterm Play
46:34 - Saylor Strategy Bear Market Attacks
51:59 - Bitcoin Mirrors Fiat Boom Bust
54:07 - Gold Silver Bitcoin 2026 Targets
57:52 - Monetary Debasement Trade Accelerates
1:00:10 - Markets Embarrass Most Investors
Links & Resources:
→ Professor Peter St. Onge on X: https://x.com/profstonge
→ Professor Peter St. Onge: https://www.profstonge.com/
→ Larry Lepard / EMA Gavekal: https://www.ema2.com
→ Lawrence Lepard: https://x.com/LawrenceLepard
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Joe Carlasare, American HODL & Dr. Jeff Ross → https://youtu.be/i14Y81EGcVY
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