 Take a look at this formerly classified document: 
Most people (professionals included) have never heard of it… But it’s been quietly protecting the value of your savings, your retirement, and every dollar in your wallet for the last 50 years. Created under Henry Kissinger in 1974… It had a name only Washington could love: The U.S.–Saudi Arabia Joint Commission on Economic Cooperation. And this little-known arrangement helped anchor one of the most important financial relationships on earth: Saudi oil… U.S. dollars… And America’s ability to fund its power. For half a century, it helped tie global oil trade to the U.S. dollar… Keeping demand for dollars artificially high… And protecting the purchasing power of every American who ever saved money, owned a home, or built a retirement account. On June 9, 2024… It ended quietly. Now, the war in Iran is shining a huge spotlight on its downfall. What comes next is a complete reset of the dollar system — One that could hit your money from every direction.
- Stocks crushed 40% to 80% in real terms.
- Real estate cut in half as buyers vanish.
- Inflation grinding at 10% to 15% — month after month, year after year.
Please understand– if you own stocks, bonds, real estate, cash, or a retirement account tied to the U.S. dollar… You need to read this short presentation now. It could be the difference between being blindsided by the reset… And positioning yourself in the tiny group of gold stocks I believe could soar as the dollar system cracks. Click here now. Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio
Saturday's Bonus Content
Intel Earnings Reveal Whether the Chip Selloff Created a BuyWritten by Chris Markoch. Originally Published: 7/24/2026. 
Key Points
- Intel reported Q2 2026 revenue of $16.1 billion, up 25% year-over-year, and adjusted EPS of 42 cents, both well above analyst estimates, sending shares sharply higher after hours.
- Data Center and AI Group revenue grew 59% year-over-year, and management said demand still outstrips supply due to substrate and memory shortages, suggesting AI demand remains intact.
- Intel Foundry revenue rose 31%, but external customers accounted for only about 5% of segment revenue, leaving its leading-edge 18A business largely unproven despite raised guidance and capital spending.
- Special Report: This tiny launch company operates next to SpaceX and Blue Origin
The importance of an earnings report can be overstated. However, it’s hard to understate what Intel Corporation (NASDAQ: INTC) faced heading into its Q2 2026 earnings report. The PHLX Semiconductor Index had fallen roughly 19% from its June 22 peak, with every constituent in the red. Nearly $2 trillion in sector value had been erased. The sell-off occurred because investors questioned whether AI infrastructure spending could justify the current multiples assigned to chip stocks. Investors needed Intel’s results to answer one question: Is this a healthy reset or early evidence that demand is cracking?
The report’s headline numbers were encouraging. Revenue reached $16.1 billion, up 25% year over year and roughly $1.8 billion above the midpoint of guidance. It was also Intel’s fastest growth rate since 2011. Adjusted earnings per share (EPS) of 42 cents doubled the 21 cents analysts expected. Gross margin expanded to 41.8%, nearly 280 basis points above management’s own guidance. The stock jumped as much as 12% to 13% after hours, briefly touching levels above $112. For a sector that had been trading on fear all month, the earnings report appeared to call for a repricing. However, the details underneath still leave room for caution. Data Center Demand Looks Real, Not a Rebound StoryThe clearest signal came from the company’s Data Center and AI Group segment. Revenue jumped 59% year over year to $6.3 billion. Management said AI-linked businesses grew more than 70% year over year and now make up roughly 70% of total revenue. Chief financial officer (CFO) David Zinsner told analysts that server CPU demand has improved since last quarter. He pointed to double-digit industry unit growth through 2028. Intel also disclosed 10 long-term supply agreements with customers. Some customers want to lock in pricing, while others are focused purely on securing volume. Here’s why that matters: Intel said demand is still outstripping available supply. It cited industrywide shortages of substrates and memory that are expected to persist into next year. That’s a different story from the bear case behind July’s sell-off, which centered on fears that hyperscalers might pull back on AI capital spending. Intel’s numbers suggest that the bottleneck is hardware supply, not fading demand. Margins Are Recovering, But Foundry Still Isn’t Fully ProvenMargin recovery is another pillar of the bull case, and it’s real. Non-GAAP gross margin came in at 41.8%, compared with just 29.7% a year ago. For a chip company, that improvement reflects scale, a richer product mix and disciplined pricing. Foundry is where caution still belongs. Intel Foundry revenue rose 31% to $5.8 billion. 18A wafer output grew more than 50% quarter over quarter, with yields ahead of internal targets. However, external Foundry revenue was just $293 million, or about 5% of the segment’s total. The Foundry operating loss narrowed to roughly $2.1 billion but remains substantial. Intel landed Fortinet (NASDAQ: FTNT) as a named foundry customer this week. That agreement is for an older node, though, rather than the leading-edge 18A business investors need to see validated. Until a marquee customer commits meaningful volume to 18A or 14A, Foundry will remain a story of internal progress, not proven external demand. Guidance Suggests the Beat Wasn’t a One-Quarter FlukeIntel guided for third-quarter revenue of $15.8 billion to $16.8 billion and non-GAAP EPS of 38 cents. Both figures came in well above Wall Street’s estimates of roughly $15.1 billion and 27 cents, respectively. Management also raised its 2026 capital expenditure (CapEx) outlook from $18 billion to more than $20 billion, with 2027 spending set to climb further. This marks Intel’s seventh straight quarter of beating its own outlook. That suggests a management team that has recalibrated expectations below what it can actually deliver. The Tougher Comp Problem AheadIntel has now strung together two quarters of exceptional, AI-fueled growth. The Data Center and AI segment’s 59% year-over-year jump follows strong growth last quarter, making the next few comparisons much more difficult. However, beating a 25% growth quarter against an easy prior-year base is one thing. Beating it again against a quarter that grew 25% is another. Some deceleration in year-over-year growth rates should be expected over the next two or three quarters, even if the underlying business remains healthy. That’s not necessarily a red flag, but it does raise the bar for future beats. Buy the Dip, or Stay Cautious?This report was bullish for INTC. Demand strength, margin recovery and raised guidance all point to real AI-driven growth. The main unresolved risk is specific to its Foundry business. In that regard, Intel remains a story stock until external 18A customers show up. Valuation is an interesting wrinkle. Even if the stock pops in the sessions following earnings, Intel wouldn’t look expensive relative to its new earnings power. If anything, shares look modestly undervalued relative to the growth just reported. That’s a reasonable setup for patient buyers, but not necessarily one to chase into strength. Given the tougher comparisons ahead, this looks like a hold rather than a chase. A pullback toward more attractive levels would offer a better entry point. That’s not a bearish call on the business. It’s a preference for a better price on a company that has proven it can execute. For the broader chip dip, Intel’s results support the bullish read on demand. Supply constraints, long-term agreements and raised CapEx all suggest that the AI buildout isn’t stalling. However, Intel is just one data point in a 30-stock index. The sharpest damage has concentrated in memory and hyper-growth momentum names that don’t share Intel’s specific demand mix. Investors reacting to this report have a reasonable case for viewing Intel as attractive on a pullback. Diversified semiconductor ETF exposure remains a sensible way to play the broader recovery. Intel’s strength doesn’t automatically clear every beaten-down chip name of the concerns that drove this sell-off. . |
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