They first discuss about the current European debt crisis and that they still did not fix the problem as the debt is still going up: there will be more debt in one year and even more in two years.
He said (as in previous interviews) that QE3 has already started, because when Bernanke says he will keep interest rate at zero percent until 2013, he can't just sit he must intervene to keep the interest rate at that level and that shows in the money supply.
Precious metals (Gold and Silver) and agricultural commodities are his main commodity investments, but he also likes on base metals. He still prefers Silver rather than Gold because the former is still way down it's all time high.
Finally, he explains that crude oil will go higher than anyone expects because reserves are going down every year, although if a major event occurs (such as Spain going bankrupt), crude oil would go down with it, but that would then be a buying opportunity.