Keep Calm and Buy Gold & Silver: What’s Really Driving Gold Mania

At the 2025 New Orleans Investment Conference, Mike Maloney sat down with Kerry Stevenson, founder of the Australian Gold Conference, to talk about one of the strangest phenomena sweeping the gold world — lines forming in Australia to buy gold at over $6,000 AUD an ounce. 

What they uncovered wasn’t just about price — it was about psychology, policy, and the growing realization that fiat money may be losing its grip on value. 

When the Crowd Buys High and Ignores the Sale 

Kerry began by describing scenes that looked more like a Black Friday frenzy than a bullion purchase: people lining up for hours, desperate to buy gold at record prices. 

“They weren’t interested when it was $1,800 or $1,900,” she said. “But suddenly at $6,000 AUD, they get hysterical and line up around the block — because the mainstream media told them to.” 

It’s a textbook case of investor psychology: chasing price instead of value. Mike pointed out that most people buy gold for the wrong reasons and at the wrong time, driven by emotion rather than understanding. 

The irony? When gold is “on sale,” investors stay on the sidelines. When it hits new highs, they panic to get in. 

Gold and Silver Are Money — Everything Else Is Credit 

Both Mike and Kerry agree: gold and silver aren’t just commodities; they’re money. Everything else — including the digits in your bank account — is credit that depends on trust in a system showing cracks. 

“People are trusting what they see on their phones,” Kerry said. “They have no idea whether that value will be there tomorrow.” 

Instead, she says investors should see gold and silver as financial insurance — a store of value, not a speculative trade. Or as Mike often says, “If you want more gold tomorrow, buy silver today.” 

Government “Insanity” and the Endless Money Machine 

When you flip the gold chart to show the dollar’s value measured in gold, the story is clear: the dollar keeps falling, while gold holds its ground. 

It’s not coincidence — it’s the consequence of governments addicted to debt and money creation. As Kerry put it, “They’ll keep the printing presses running — QE1, QE2, QE3… into infinity.” 

In Australia, that mindset now includes a “view tax” charging apartment owners more just for higher floors — a desperate move from a system running out of ways to fund itself. 

When governments print endlessly and tax creatively, savers pay the price — while gold and silver quietly preserve purchasing power. 

The Real Takeaway: Don’t Panic — Prepare 

Despite the chaos, both Mike and Kerry share a calm, strategic outlook. The goal isn’t to sell everything and rush into metals — it’s to build lasting protection before the panic spreads. 

Kerry summed it up: 

“Don’t sell your house and your children to buy gold. But do use it as a store of value over time — your insurance policy against government insanity.” 

Mike echoed that sentiment, urging investors to understand what’s coming before it arrives: inflation, policy distortion, and a slow erosion of purchasing power. 

$6,000 Gold: The Calm Before the Reset 

From the outside, $6,000 gold buyers in Sydney might look like a footnote in a market cycle. But as Mike and Kerry point out, it’s something more: a symptom of global distrust in paper money — and a sign that the next major shift in value is already underway. 

Before the next “gold fever” spreads, now’s the time to understand why it happens — and how to position yourself before the crowd catches on. 

Watch the Full Interview 

See Mike Maloney and Kerry Stevenson’s full conversation from the New Orleans Investment Conference — including the charts, insights, and the strategy behind “Keep Calm & Buy Gold & Silver.” 

Investing in Physical Metals Made Easy

People Also Ask 

Why are people in Australia paying over $6,000 an ounce for gold? 

Many Australians rushed to buy gold at record highs after mainstream media coverage sparked fear of missing out. It’s a psychological reaction — investors tend to chase rising prices rather than buy when gold is “on sale.” This behavior often signals growing distrust in fiat currencies and rising inflation concerns. 

What does “gold and silver are money, everything else is credit” mean? 

This phrase means gold and silver hold intrinsic value independent of government promises, while fiat currencies rely on confidence in the financial system. Unlike paper money, precious metals can’t be printed or devalued by policy decisions, making them long-term stores of wealth. 

How do government policies impact the value of gold and silver? 

When governments overspend, increase debt, or print excessive amounts of money, fiat currencies lose purchasing power. Gold and silver typically rise during these periods because they act as a hedge against inflation and currency debasement. 

What is the “view tax” Kerry Stevenson mentioned, and why does it matter? 

The “view tax” in Australia charges higher property taxes to residents in upper-floor apartments, regardless of whether they actually have a view. It’s an example of how governments create new taxes to sustain spending — a sign of financial strain that pushes more people toward tangible assets like gold. 

Why do experts say silver could outperform gold in 2025? 

Silver tends to outperform gold in bull markets because it’s both a monetary and industrial metal. As inflation persists and demand rises from sectors like solar and technology, silver’s dual role gives it strong upside potential compared to gold’s slower-moving stability.