Marc Faber Says Oil May Be Entering a Higher New Normal

Recorded on April 2 2026 Steve Yang sits down with Dr. Marc Faber for a sharp macro conversation on where the biggest cracks are forming in the global system right now. Faber argues that liquidity has already tightened as asset prices weaken, real estate loses momentum, and borrowers with variable-rate exposure feel the squeeze. He explains why he believes the United States is heading toward more debt monetization, why that points toward inflation even if many assets fall together, and why he still sees relative defense in bonds compared with weaker equity segments. The interview also digs into the difference between deflation in what people can delay and inflation in what they still need, the repricing of commercial real estate, and why he believes oil may be moving into a higher structural range. Steve and Marc also discuss gold, silver, capital flows, household stress, energy demand, and why the Iran conflict could last longer than many investors expect. If you follow macro, commodities, geopolitics, and where capital may move next, this is an episode worth watching all the way through. #Millettian Key topics list Liquidity tightening and falling asset prices Household stress and variable-rate debt Debt monetization and inflation risk Bonds versus equities in a weaker macro cycle Deflationary wants versus inflationary needs Commercial real estate repricing Oil, energy demand, and higher-for-longer pricing Iran conflict and geopolitical spillover Guest links https://www.gloomboomdoom.com/ https://www.gloomboomdoom.com/about/biography/ Host Steve Yang Natural Resource Stocks Website https://www.NaturalResourceStocks.net YouTube Main https://www.youtube.com/@naturalresourcestocks YouTube Clips https://www.youtube.com/@NaturalResoureStocksClips X https://x.com/TheSteveYang LinkedIn https://www.linkedin.com/in/thesteveyang/ Natural Resource Stocks LinkedIn https://www.linkedin.com/company/naturalresourcestocks-net/ Natural Resource Stocks Facebook https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/ Natural Resource Stocks TikTok https://www.tiktok.com/@natural.resource.stocks Natural Resource Stocks Instagram https://www.instagram.com/naturalresourcestocks/ Chapters 00:00 Cold open 01:55 Intro 02:34 Liquidity has tightened 04:33 Middle East cash flow pressure 05:06 Household recession view 06:59 Markets and geopolitics 10:21 Capital flows in illiquidity 14:48 Debt printing and inflation 19:22 Inflationary needs versus deflationary wants 22:06 Oil and energy demand 26:13 Iran conflict outlook 29:57 Outro The content provided by Galt Consulting Group, doing business as NaturalResourceStocks.net, including but not limited to interviews, articles, podcasts, and other digital media, is for informational purposes only. We reserve the right to buy and sell shares of any company mentioned in these communications, including sponsors of the NaturalResourceStocks.net platform. If Galt Consulting Group or any affiliated parties are invested in a company mentioned in our content, we will publicly disclose such investments on all digital platforms, including but not limited to the NaturalResourceStocks YouTube channel, Apple Podcasts, and Spotify. This disclosure will include clear statements indicating whether or not we hold shares in the companies discussed. Nothing in our content constitutes financial advice. Every investor is responsible for conducting their own due diligence and should seek the advice of a qualified financial professional before making any investment decisions. Past performance is not indicative of future results, and investments in the stock market can result in the loss of principal. By engaging with our content, you acknowledge that you are fully responsible for your investment decisions and agree to hold Galt Consulting Group, NaturalResourceStocks.net, and its affiliates harmless for any financial losses incurred.

Added 8 Apr 2026