Mining Stock Daily

Hamiltonian Revenge: Why the West Must Weaponize Capital to Rebuild Its Decimated Industrial Core

Jan 16, 2026
Craig Tindale, a private investor and independent analyst focused on mining, critiques neoclassical economic theories for offshoring Western industrial capacity to rivals like China. He discusses the alarming dominance China holds over critical metal refining, crucial for AI and military defense. Tindale emphasizes the high cost of capital in the West as a strategic disadvantage, warns of irreversible industrial decline, and calls for urgent reform to prioritize onshore industrial resilience. He advocates for a pragmatic approach to state capitalism to secure economic sovereignty.
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INSIGHT

Price Theory Broke The Link To Production

  • Neoclassical, stateless price theory disconnected finance from material production and offshored sovereignty.
  • That created financialized Western economies weak in industrial capacity and vulnerable to supply control.
INSIGHT

Cost Of Capital Became A Strategic Weapon

  • High Western cost of capital penalizes industrial projects while Chinese state finance underwrites them cheaply.
  • That financing gap accelerated offshoring of refining and smelting capacity to China.
INSIGHT

China Holds The Refining Chokepoints

  • China controls 50–98% of refined smelter capacity for many critical metals, creating a chokepoint for tech and defense production.
  • Control extends via licensing and offtake contracts that can block exports for military uses.
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