It’s disgraceful. 

The United States, a country that once stood for personal freedom, yet demanded personal responsibility from its citizens and politicians alike, is broken. 

I barely recognize it anymore. 

Since 2010, I’ve been warning everyone who would listen about the United State’s looming debt crisis in my documentary, The End of America. 

Now, 16 years, and $22 trillion in additional debt later… 

We’re very near the $40 trillion mark in total national debt: 

This massive debt… annual deficit increases… along with looming unfunded pension obligations, are spiraling this country toward insolvency. 

And as I’ll show you, the soaring price of gold right now is a very clear warning of this. 

Congress cannot possibly finance its legislatively mandated spending: 

Mandatory spending plus interest is locked in at around 37% of GDP before a single discretionary dollar is spent.

It’s inevitable that the government will be forced to print trillions of dollars to finance its growing obligations and borrowing costs. 

This has the potential to trigger a technical U.S. Treasury default… which would mean catastrophic losses for long-duration bond investors.

It’s happening right now in Japan, where the 10-year bond yield has tripled over the last year. It has cost investors over $200 billion. 

And that’s what happened in Great Britain in September 2022, costing investors around $700 billion. 

In both cases, the bond markets sold off after the governments announced plans to both increase spending and cut taxes. Following the same logic at home…

I believe it’s now certain America will soon experience a financial reckoning, much like we saw in 1973-1974.

After the U.S. abandoned the gold standard in August 1971, Congress passed huge increases to spending, including linking Social Security payouts to meet the inflation rate.

In the 10 years following the August 1971 break with gold, the size of the Federal Reserve’s balance sheet grew 174%, from $70 billion to over $190 billion, as it bought enormous amounts of Treasury bonds with newly printed money. 

This set off the roaring inflation of the 1970s, which wiped out long-duration Treasury bonds.

That meant a stock market decline of more than 50% between 1973 and 1974. The sell-off in financial stocks was even more intense. 

For banks, which must hold Treasury securities as reserves, the technical default (printing money to finance government debt) was catastrophic.

The price of gold, in the meantime? Soared from $35/ounce to $455 by the end of the decade. That should sound familiar… 

Today, we’re witnessing the largest gold bull run since the 1970s, and for an important reason: 

Central banks around the world are recognizing this massive risk that U.S. Treasury bonds pose to their bottom line. So they’re dumping Treasuries… and buying gold hand-over-fist. 

Put simply, gold is money again. And it’s the greatest monetary shift we’ve ever seen. 

I warned anyone who would listen to get into gold over a year ago. And I’d bet the ones who did are enjoying some incredible returns. 

But this is just the beginning of this wealth shift – and I have a new gold recommendation that I believe everyone should consider immediately.

In short, if you don’t own gold right now, you’re making a big mistake. But if you really want to protect and potentially grow your wealth during these dangerous times…

Click here to see the absolute best way to invest in this global gold rush right now.

Good investing, 

Porter Stansberry

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This Week’s Exclusive Content

The AI in a Box Trade: Hardware Is the Next Boom

Authored by Jeffrey Neal Johnson. Publication Date: 2/3/2026. 

Quick Look

• SanDisk is demonstrating strong pricing power and high demand for flash memory as the need for local data storage grows in the new era of Edge AI.
• Dell Technologies has secured a massive backlog of orders for its specialized servers as corporate customers move to build their own internal AI infrastructure.
• HP Inc. offers a compelling value opportunity for investors through aggressive cost-saving initiatives and a generous dividend yield, as it awaits a PC refresh.

Investors have spent the last year captivated by the explosive rally in the semiconductor sector. SanDisk (NASDAQ: SNDK), the flash-memory giant recently spun off from Western Digital (NASDAQ: WDC), has become the latest market obsession. The stock has risen more than 700% over the past year. Following a massive earnings beat in early February, the shares jumped another 15%, driven by apparent global demand for data storage.

Seasoned investors know semiconductors are ingredients, not final products: chips are bought to be installed in devices. We’re seeing a meaningful shift in the artificial intelligence landscape — from large-scale AI training in centralized cloud data centers toward AI inference running locally on devices at the network edge, including PCs, laptops, and private AI servers.

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That shift moves the heavy capital-spending cycle away from pure chipmakers and toward the original equipment manufacturers (OEMs) that build the physical infrastructure. While much of the market remains focused on the overheated semiconductor rally, the data suggest a compelling catch-up trade is forming.

The Signal: What SanDisk’s Earnings Actually Mean

SanDisk’s recent earnings report gave investors a concrete reason to buy and outlined a broader roadmap for the technology sector.

On Jan. 29, the company reported revenue of $3.03 billion, a 61% year-over-year increase. More notably, gross margin expanded to 51.1%, indicating meaningful pricing power as demand for storage outstrips supply.

That margin expansion can act as a leading indicator for the hardware ecosystem.

Demand for flash memory is not random; it’s being driven by the practical requirements of Edge AI. Unlike many traditional applications, AI models need large amounts of fast, local storage to run effectively without constantly connecting to the internet.

Key drivers for running AI locally include:

• Speed: Processing data on-device reduces latency.
• Privacy: Sensitive corporate data is better kept on-premises rather than uploaded to a public cloud.
• Cost: Companies can avoid recurring cloud subscription fees for every AI query.

If SanDisk is selling record amounts of memory at premium prices, it suggests corporations are actively upgrading their hardware fleets. Components are being purchased in bulk, which implies the servers and PCs those parts go into are poised for a sales boom.

Dell Technologies: Building the AI Factory

If SanDisk provides the signal, Dell Technologies (NYSE: DELL) provides confirmation. Dell’s stock offers a relatively stable way for investors to gain AI exposure without the volatility typical of unproven software startups.

Dell bridges the cloud and the edge, and it has quietly established itself as a preferred vendor for private-enterprise deployments.

The company reported a record $18.4 billion backlog for its AI servers in the third quarter, and year-to-date orders for AI servers have reached $30 billion.

Those figures support the thesis that Dell’s “AI Factory” strategy is working: corporations are not just discussing AI, they are signing purchase orders for the hardware needed to run it.

As businesses bring AI operations in-house to protect intellectual property, they require the high-performance PowerEdge servers Dell manufactures.

For investors, a backlog of this size provides revenue visibility and some insulation from short-term economic swings. While many software companies struggle to monetize AI features, Dell is selling the picks and shovels required to build the infrastructure — a stable growth play with confirmed order flow and a dominant position in the commercial market.

HP Inc.: A High-Yield Opportunity in Disguise

Where Dell represents growth, HP Inc. (NYSE: HPQ) represents deep value. The stock has fallen roughly 30% over the past three months, largely on news that CEO Enrique Lores is leaving for PayPal. Market overreactions to executive changes often create buying opportunities for investors focused on fundamentals rather than headlines.

The more important story for HP is the strategic plan it has in place. Coinciding with the leadership transition, HP launched its Fiscal 2026 Plan.

The restructuring aims to reduce the global workforce by 4,000 to 6,000 employees and generate $1 billion in gross run-rate savings by the end of fiscal 2028.

That efficiency drive matters because, as the SanDisk data suggests, component costs are rising and can squeeze device-makers’ profit margins.

By trimming operating costs, HP is positioning itself to preserve margins despite higher input prices.

HP also offers a compelling reason for patient investors to wait: the company has raised its quarterly dividend to $0.30 per share. With the stock trading near $19, that equates to a dividend yield of roughly 6.5%.

HP is a straightforward play on the coming AI PC refresh cycle. As Microsoft (NASDAQ: MSFT) rolls out updates that require more advanced neural processing units (NPUs), many aging office PCs will need replacement. HP’s cost cuts and high yield provide downside protection while offering asymmetric upside if the hardware refresh accelerates.

The Hardware Supercycle Begins

The “AI in a Box” trade outlines a logical path for capital rotation. SanDisk signaled that the world is short on storage because a hardware upgrade cycle is underway. Dell Technologies confirms the demand with a record backlog of server orders, giving investors a growth vehicle with tangible order flow. Meanwhile, HP Inc. presents a value opportunity that pays investors to wait via a substantial dividend while management executes its turnaround plan.

By looking beyond chipmakers to the companies building the final devices, investors can participate in the next phase of the AI revolution — Edge Computing — at valuations generally more reasonable than those in the overheated semiconductor sector.

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