Ryan and the Alpha Picks team unpack a busy week: Trump’s nomination of Kevin Walsh for the Fed, market reactions and the resulting sell-off across bonds, stocks and precious metals.

They analyse the sharp gold and silver corrections, argue why the metal bull market may still be intact, and warn about leverage and market structure risks.

The episode also covers AI earnings (Meta, Microsoft), concerns around OpenAI and capex, Tesla’s pivot towards software and robots, talk of SpaceX/XAI IPOs, and policy uncertainty hitting critical-minerals and copper plays.