In this episode of Palisades Gold Radio, host Tom Bodrovics speaks with Jeff Christian, Managing Partner of CPM Group. Jeff discusses his background and what brought about the creation of the CPM Group. CPM Group's research department was established in the late 1960s to gather data and estimate supply and demand for gold and silver as the gold standard was ending and silver was being removed from coinage and currency systems. The company has a strong track record of accurately projecting prices due to their continuous gathering of data and maintaining a global network of contacts. Jeff discusses the recent demand for gold from investors has been high, with net investment demand for physical gold totaling 25, 26, and 24 million ounces in the last three years. This level of demand tends to cause an increase in gold prices, as seen by record annual average gold prices every year for the past four years. The price of gold has increased significantly since 2000 and is expected to continue to rise in 2024 and 2025 due to several macroeconomic drivers. Despite inflation coming down and interest rates rising, investment demand for gold remains strong. Governments and central banks are buying gold to diversify their reserves and reduce reliance on the US dollar. China, in particular, has a growing appetite for gold due to centuries of political disunion and civil wars, making the yellow metal a safe haven for them. Jeff discusses the impact of The Shanghai Gold Exchange in taking some market share from London, with Chinese investors paying higher premiums for gold compared to the West. The Chinese currency's lack of free trade also affects gold prices in the country. While some gold has moved to China, there are still multiples of the amount of gold built up in Switzerland over the last 10-20 years. The amount of gold being mined is down somewhat from its peak due to reduced exploration and development spending during a period of lower gold prices. However, higher gold prices in recent years have led to an increase in investment in exploration and development. The capital markets tend to be short-term and cyclical, which can create challenges for long-term financing needs in the industry. Lastly, Jeff discusses the lack of interest from investors and speculators in gold miners is due to a range of issues, including changes in the equity markets and institutional investment practices. The gap between the performance of smaller companies and large companies has never been wider, making it more challenging for smaller mining companies to access capital. CPM Group's 2024 Gold Yearbook provides in-depth information on the gold market and its trends, including charts and valuable historical data not found elsewhere. Time Stamp References:0:00 - Introduction0:30 - CME Research History7:18 - Recent Gold Demand10:10 - Main Macro Drivers12:48 - CME Gold Outlook17:44 - Fed Rates Normalizing?20:12 - U.S. Debt Servicing29:16 - Dollar & Euro Demand31:38 - Dot Plots & Projections33:10 - Gold & Election Uncertainty36:48 - Media Narrative Divide38:40 - Impact of Bitcoin40:30 - Demand During Crisis?44:42 - Lower Rates & Gold?47:34 - China & Gold50:55 - Shanghai & Pricing54:14 - Production & Demand55:20 - Miners CapEx & Supply59:58 - Silver's Role1:01:02 - Strategic Role?1:04:15 - CBDCs & Hyperinflation1:10:32 - Wrap Up Talking Points From This Episode CPM Group's gold research spans 30+ years, providing unbiased data & analysis. Outlook for gold through 2024/2025 and why demand remains high. Thoughts on the Dollar, Treasuries and the long-term debt of the United States. Guest LinksTwitter: https://twitter.com/CPMGroupLLCWebsite: https://www.cpmgroup.com/Questions Email: info@cpmgroup.comYouTube Link: https://www.youtube.com/c/CPMGroup/videos Jeffrey Christian is the Managing Partner of the CPM Group. He is considered one of the most knowledgeable experts on precious metals markets, commodities in general,

1h 12m

Mar 28

Bob Miner, a seasoned trader with over 40 years of experience, joined Tom Bodrovics on Palisades to discuss his insights on the current market trends. Bob emphasized that trends and countertrends are based on group psychology and cycles of optimism and pessimism. He shared a story about a "nephew indicator" that is more reliable than economic indicators for understanding market extremes. Bob discussed his approach to trading in the foreign exchange (FOREX) market, highlighting the importance of understanding the underlying fundamentals and technicals of a currency pair. He also discussed the current state of the gold market, noting that it is currently in a bullish uptrend but may be approaching a potential sign of completion. In addition, Bob discussed commodity and inflation indices, specifically focusing on uranium. He believes that uranium may be about to complete a correction before continuing its upward trend. Bob also emphasized the importance of having a plan in place for exiting positions if signs of a breakout failure appear. Bob has been studying the U.S. election cycle and its impact on stock market trends for over 25 years, and he has developed a book that is considered the definitive guide to this topic. He provided a table showing the percentage gain for each month from the spring low to the summer high since 1952, indicating that there has only been one year when there was a loss from the spring low to the summer high. Talking Points From This Episode The importance of understanding group psychology and cycles of optimism and pessimism in predicting market trends. The relevance of fundamentals and technicals in foreign exchange (FOREX) trading, especially in understanding currency pairs. The potential for a bullish uptrend in the gold market, but also the possibility of a sign of completion and the importance of having a plan in place for exiting positions. Time Stamp References:0:00 - Introduction0:45 - Robert's Background3:27 - Key Market Catalyst6:23 - Trading Vs. Forecasts10:19 - Exiting Trades12:35 - Fed, Trends & Dollar20:10 - Gold Charts & Trends33:23 - Dollar & Treasuries40:57 - Crude Oil/Inflation44:08 - Analysis & Factors48:00 - Crude Weekly Chart52:10 - URA ETF Monthly56:59 - Elections/Markets Book1:07:42 - Bitcoin Report1:13:00 - Wrap Up Guest Links:Website: https://dynamictraders.comTwitter: https://twitter.com/BobAtDTYouTube: https://www.youtube.com/channel/UCrtHpWM3GlFmCdqCkOL3xAg Robert Miner began his career in the mid-80’s with his first company, Gann-Elliott Educators, where he produced analysis reports for the major financial markets and presented live workshops in the U.S. and overseas. In the mid-90’s he founded Dynamic Traders Group to provide market analysis and trade strategy reports, practical trade education and developed his Dynamic Trader Software. Robert wrote the first self-study trading course in 1989 where he expanded on and integrated the work of W.D. Gann, R.N. Elliott and his own unique approach to Fib time and price target strategies into his own comprehensive and original approach to multiple time frame time, price, pattern and momentum trade strategies. Robert’s first book, Dynamic Trading, was named the “Trading Book of the Year” by the SuperTradersAlmanac and he was named the 1997 “Guru of the Year”. His book, High Probability Trading Strategies, has been one of the consistently top selling trading books since its release in 2008. It has become a must-read classic trading book of practical trade strategies. Robert is recognized as one of the few trading educators with an actual multi-year record of trading success. In 1993, he won first place in an annual real-time, real-money trading contest for futures. In more recent years, he has demonstrated the effectiveness of his practical trade strategies with audited returns and awards five consecutive years for real time trading contests with double and triple digit annual returns fo...

1h 15m

Mar 27

Tom welcomes back David Skarica, publisher and founder of Stockchart of the Day, about a potential threat to market stability. Skarica sees increased frothiness in the market, with Bitcoin ETFs being launched and widespread optimism about Bitcoin reaching 150k - 300k, similar to the behavior seen in 2017 and 2021. He warns that investors should be cautious about the current state of the market and consider investing in assets that can protect their wealth during market downturns. Skarica points out that the top 10 largest stocks now account for 29% of total market cap, similar to the height of market bubbles, with stocks like NVIDIA and Apple trading based on growth rather than sales. He suggests looking at NVIDIA's chart and other related stocks to understand the market better. The US government has been issuing more short-term debt instead of taking advantage of low long-term interest rates, which could lead to problems when the debt needs to be rolled over in the future. The market is demanding higher returns on US debt due to increasing debt levels and higher spending, leading to a potential sovereign debt crisis in the US. Commodities and gold markets are also anticipating this potential crisis, with commodities near resistance levels and gold breaking out. Skarica discusses the reissuing of debt and the potential for a shorter maturity on those bonds due to the real rate of return. He notes that there is currently more demand for two-year treasury bonds, which have a fixed market and yield 4.6%, compared to 10-year bonds, which are subject to price fluctuations and have lower yields. Skarica warns of the risk of buying long-term bonds, as demonstrated by the TLT ETF, which has decreased in value by 40% while only offering a 0.5% yield. David discusses the potential convergence of various economic cycles, including a debt cycle and a Dow theory cycle, and what this could mean for the price of gold and the capital expenditure (CAPEX) cycle in the mining industry. He suggests that loose monetary policy and QE tend to lead to investment in sectors that were not the focus of the previous market bubble, such as emerging markets, commodities, and inflation-protected sectors. Timestamp References:0:00 - Introduction0:34 - Threats and Markets4:38 - Recent Market Rally10:40 - Corporate Vs Gov't Debt16:58 - Maturities & Bonds26:00 - Dow Transport Avg27:40 - Rates & Market Forces31:21 - Debt Monetization33:28 - Japanese Yen Chart36:29 - Liquidity & Demand38:20 - Fed Talk & Rates41:08 - Soros & Efficient Mkts.44:30 - Bulls & Bear Documentary45:47 - Gold & CAPEX Cycle50:43 - Irrational Markets?55:52 - The Green Dream59:55 - Fun/Risky Markets1:02:27 - Wrap Up Talking Points From This Epsiode Investor caution is urged due to market frothiness and potential threat to stability. Top 10 largest stocks account for 29% of total market cap, similar to past market bubble peaks. US sovereign debt crisis possible due to increasing debt levels, higher spending, and demand for higher returns on debt. Guest Links:YouTube: https://youtube.com/@scotdayTwitter: https://twitter.com/DavidSkaricaPatreon: https://www.patreon.com/stockchartoftheday David Skarica is the Founder and Editor of Stock Chart Of The Day a popular newsletter known for its stellar performance in both up and down markets. Skarica entered the financial markets at a very young age and became the youngest person on record to pass the Canadian Securities Course at the age of eighteen. David is a regular speaker at trade and investment conferences in Canada and is a guest on the Business News Network (BNN), Canada's flagship business broadcasting network. His work has appeared in publications such as the Bull and Bear Financial Report, Barron's, Investor's Digest of Canada, and Canadian MoneySaver. Skarica also writes Gold Stock Adviser, an investment newsletter for the conservative media outlet, Newsmax. David's book, Collapse,

1h 4m

Mar 21

Tom welcomes Mark O'Byrne back to the show. Mark is the Founder of Health Wealth Gold. Mark O'Byrne, a precious metals expert, sees value in gold and silver as insurance against various risks, including internet shutdowns and electromagnetic pulse (EMP) technology. He emphasizes that governments with extensive powers can threaten individuals' finances, especially in a cashless society. While cryptocurrencies offer an alternative digital gold, O'Byrne warns of the risks associated with digital assets. Internet shutdowns, which have occurred in democratic countries like India to control narratives and dissent, can disrupt financial systems, including Bitcoin, gold ETFs, and digital gold platforms. Although off-chain transactions are possible for some Bitcoin users, they aren't viable for many. The vulnerability of digital assets highlights the importance of physical assets like gold and silver in a diversified portfolio. O'Byrne also discusses potential government restrictions or bans on certain technologies, such as Bitcoin, due to concerns about backdoors into devices. He suggests that most assets are now accessed via usernames and passwords, creating risks if there are vulnerabilities in digital platforms. The expert also cautions against assuming a global financial crisis and bail-ins are inevitable, noting the importance of understanding the complexities of these issues. In recent times, there has been a significant increase in gold and silver bullion products from new private mints globally, leading to high inventories and decreased premiums for non-legal tender bullion products like silver and gold rounds. However, O'Byrne observes an uptick in demand for both metals and anticipates positive fundamentals for silver due to declining production in Mexico and Peru and increasing international demand. Despite some concerns about silver stackers potentially selling their holdings when the price reaches $30 per ounce, O'Byrne remains optimistic about the future of silver. He advises investors to take profits instead of waiting for unpredictable price targets set by gurus and suggests following him on Twitter or LinkedIn for updates on his research and insights into the gold and silver markets. Time Stamp References:0:00 - Introduction0:52 - Interconnected World5:18 - Digital Asset Risks8:08 - Cash During a Crisis11:40 - Censorship & Control20:22 - Bank Failure Risks27:47 - New Mints & Bullion34:42 - ETF Inventories36:12 - Bullion Banks39:12 - Wrap Up Talking Points From This Episode Mark recommends gold and silver as insurance against risks like internet shutdowns, EMP technology, and cashless society threats. Governments may restrict or ban certain technologies like Bitcoin due to concerns about digital platform vulnerabilities; physical assets remain crucial in diversified portfolios. Despite potential for a silver sell off around $30 per ounce, O'Byrne observes increased demand and positive fundamentals. Guest Links:Twitter: https://twitter.com/marktobyrneWebsite: https://www.taracoins.com/YouTube: https://www.youtube.com/channel/UCtcpfS0ZjfQEeOyYbw6xeYgLinkedIn: https://www.linkedin.com/in/markobyrne/ Mark O’Byrne is one of the leading authorities on silver and gold internationally with a high profile in social media & mainstream media having appeared on RTE, CNBC, Bloomberg and most Irish and international print, radio and tv media. He founded GoldCore, Ireland’s largest gold and silver broker in 2003 and exited in 2020 after his team and he had made it Ireland’s largest gold broker and storage provider. GoldCore became a respected gold bullion specialist internationally with over 20,000 clients in over 140 countries and over €1 billion in sales. History was his degree and he has a lifelong interest in monetary history and gold and silver and their role in protecting people from currency devaluations, the decline of nations and Empires,

40m

Mar 20

Tom welcomes back Mike McGlone Senior Commodity Strategist for Bloomberg Intelligence to the show. Mike discusses the current state of financial markets, with a particular focus on gold and Bitcoin. He suggested that investors should consider having exposure to both as part of a diversified portfolio, as they serve different purposes. There has been a shift in investor sentiment towards digital assets, with significant outflows from gold ETFs and inflows into Bitcoin ETFs. McGlone also cautioned that the US stock market is overdue for a correction, which could impact both gold and Bitcoin. Regarding the current state of the financial markets, McGlone believes the US stock market is overvalued compared to the rest of the world, and a reversion could lead to a deflationary environment benefiting gold, crude oil, and copper. He also expressed concerns about the relationship between the US and China, stating that a conflict could have significant implications for the global economy. Regarding gold, McGlone noted its outperformance compared to the S&P 500 since the Fed started tightening in late 2021. However, he also mentioned a gap in the S&P 500 E-minis at around 4600, which could lead to a normal correction in the stock market, benefiting gold by flushing out weak longs and creating a more stable environment. The interview also touched upon inflation, deflation, and the US dollar. While there has been a deflationary impulse in commodities, inflation is being driven mostly by services due to unprecedented money pumping measures by the Fed. The US dollar will remain unstoppable compared to other fiat currencies, but open discourse is crucial for maintaining its value and strength. The speaker added that a significant test for the US stock market could trigger a catalyst needed for the West to start driving gold prices along with the East. When this reversion to the mean occurs in the overvalued US stock market, it will have a profound impact on markets. They also suggested following Mike McGlone, an analyst who covers the gold and commodities markets, on Twitter for more information on these topics. Talking Points From This Episode Mike McGlone recommends considering both gold and some Bitcoin in a diversified portfolio. He warns of an overdue US stock market correction that could affect markest and potential for deflationary benefits to gold, crude oil, and copper when a reversion occurs. Time Stamp References:0:00 - Introduction0:33 - Bottoms on Commodities3:09 - Gold, ETFs, & Bitcoin8:54 - Metals & Recession Risks11:40 - Thoughts on Silver13:50 - Equity Markets & Recession18:44 - U.S. Recession Risks21:20 - Rate Hike Lag Effects24:06 - Yield Curve Thoughts26:17 - Elections & Market Volatility29:23 - Commodities & Deflation31:12 - Q.E. & The Dollar35:06 - Gold East Vs. West?37:28 - Gold Vs. Equity Returns39:15 - Mean Reversion40:13 - M2 & Equity Prices41:46 - Wrap Up Guest Links:Twitter: https://twitter.com/mikemcglone11LinkedIn: https://www.linkedin.com/in/mike-mcglone-a8442513/ Mike McGlone is a senior commodity strategist for Bloomberg Intelligence, a unique research platform that provides context on industries, companies, and government policy, available on the Bloomberg Professional service at BI(GO). Mr. McGlone specializes in the broad investible commodity markets. Mr. McGlone joined Bloomberg in 2016 with over 25 years of futures and commodity trading and investing experience, beginning at the Chicago Board of Trade. Prior to joining Bloomberg, he was a head of US research at ETF Securities. Prior to ETF Securities, Mr. McGlone headed the commodity business at S&P Indices. His previous roles included head of futures research at ABN Amro and VP research, analyst, trader, sales at Aubrey G. Lanston / IBJ Futures. Mr. McGlone has an MBA from DePaul University in Chicago and bachelor's of science and arts degrees from Illinois State University.

42m

Mar 19

Tom welcomes back Bob Coleman and Steve St. Angelo to discuss the precious metals markets. The market is undergoing a significant shift, with more sellers than buyers and dealers finding it difficult to sell at profitable prices. This has resulted in a collapse of bids and an increase in spread risk. There are also risks associated with storing metals with dealers due to counterparty risk, storage risk, and the structure programs they may be involved in. The market has moved from retail demand to a paper market that is shorting precious metals, causing prices to rise but sentiment to remain negative. Investors are waiting for lower prices to buy again. The spike in silver prices could be due to increased inventory buying by wholesale dealers who then sell futures contracts to finance their purchases. This carry trade can become unsustainable if the price of silver rises and dealers are forced to buy back their futures contracts at a loss, potentially fueling further price increases. High premiums in the silver market could indicate that someone is stuck on the wrong side of a trade and trying to exit, causing the futures market price to rise. The situation is not so much a physical issue as it is a paper problem, with CTAs holding large short positions in silver. In the gold market, GLD flows and gold prices have historically moved together, but this relationship changed when interest rates started rising rapidly in mid-2022. Institutional investors have not sold much of their gold or GLD, suggesting that most of the selling is happening outside the institutional market. The strong demand for Treasuries at high-interest rates and reduced central bank gold purchases might be driving the price of gold. There has been a shift in capital allocation from ETFs holding metals to other asset classes, particularly technology stocks. This trend poses challenges for precious metal investors but also creates opportunities for those who can identify value and navigate the current market conditions. They note that there is a risk of reaching a "max stupid point" where the market becomes overheated and unsustainable. Market psychology appears to be shifting towards a dot-com bubble mentality, with everyone chasing after Bitcoin and other high-tech investments, making it difficult for precious metal investors to make their case. Bob also warns of the risks associated with storing metals with dealers and suggests that investors should ensure they are doing business with a reputable and sustainable company. Gold and silver markets are heavily influenced by paper trading, hedging, financialization, and cost of production. Shifts in demand from east to west and short squeezes in the futures market can impact prices. ETFs that hold physical metals but issue new shares based on demand carry a risk of decreasing premiums to net asset value if the price of the metal falls. It is important to understand the complexities of paper trading and hedging in these markets, as well as the potential for market manipulation by authorized participants and market makers. Time Stamp References:0:00 - Introduction0:42 - Physical Demand14:06 - Recent Premiums17:21 - Public Sentiment20:33 - Silver Wholesale Market23:25 - Who's on the Wrong Side?32:10 - SLV/GLD & Retail Sales36:30 - Gold Drivers & Treasuries45:10 - Asset Values ETFS & Crypto47:52 - Flows Out of ETFS53:18 - Sentiment & Solvency58:27 - Know Your Counterparty1:04:28 - SLV Borrowing Costs?1:07:45 - Current Rally Outlook1:11:20 - Bitcoin Mining Stocks1:13:27 - Treasuries & Collateral1:14:48 - Public Momentum in PMs1:18:22 - NatGas & Energy Inflation1:21:05 - Central Bank Buying1:22:34 - Financialization & ETFs1:27:00 - U.S. Debt & Treasuries1:29:40 - Silver & Flows1:31:08 - Geopolitical Suppression?1:34:10 - Eastern Price & Silver1:43:53 - Price Impacts of Shorts1:46:38 - GME Squeeze & Markets1:52:33 - GLD/SLV Withdrawals1:58:17 - West-East Metal Flows2:00:00 - Overseas Storage?

2h 19m

Mar 15

Tom welcomes back Lawrence Lepard of Equity Management Associates back to the show. Larry discuses the current inflation outlook and compares it to the 1970s, noting the current driving forces are different but "rhyme" with the past. Expectations play a significant role in inflation, with people believing prices will rise. The International Swaps and Deals Association (ISDA) has written to the Federal Reserve Board suggesting that the market for treasuries is becoming less liquid, which could be problematic. The ISDA recommends eliminating the Supplementary Leverage Ratio (SLR), allowing banks to buy more treasuries without repercussions and potentially monetizing federal deficits. This move would increase money supply growth, currency dilution, and demand for sound money investments. Mr. Lepard believes that the US federal budget deficit will continue to rise, with the current administration accelerating fiscal irresponsibility. He predicts that sound money assets like gold and Bitcoin will increase in value, with gold potentially reaching $3,000 per ounce by year-end. The Federal Reserve is balancing three mandates, but its emergency powers have led to increased leverage and complex trades. The federal government's debt is not sustainable, and when investors take notice, it could lead to a sharp repricing of bonds with significant consequences for the economy. Lepard is optimistic about a return to sound money standards post-hyperinflation but sees no signs of this happening soon. He believes that gold can go as high as $10,000 per ounce and encourages investors to allocate a good portion of their assets in things the government can't print. The current market conditions provide an opportunity for investors to consider selling stocks and buying gold as protection against economic uncertainty and stock market volatility. Time Stamp References0:00 - Introduction0:36 - Inflation Outlook8:06 - Fed & Expectations10:08 - Infinite Q.E. Endgame12:02 - Crossing The Rubicon20:50 - End of the BTFP26:03 - Fed is Trapped32:30 - Bananna Republics & Cans36:47 - Currency Failure List48:30 - Market Tops & Liquidity53:49 - Hard Asset Mkt. Sizes58:08 - Commodities & Risks1:04:07 - Investor Time Horizon1:08:22 - Inflation Vs. Returns1:10:50 - Wrap Up Talking Points From This Episode Contrasting inflation today with that of the 1970s. A possible method being discussed to deploy additional stealth easing via the banking system. The importance of having sound money when markets are near all-time highs to mitigate risk. Guest Links:Newsletter: http://eepurl.com/gOf1dTWebsite: http://www.ema2.comTwitter: https://twitter.com/LawrenceLepardBitcoin Speech: https://www.youtube.com/watch?v=czdPJpRa9KI Lawrence W. Lepard is the Founder and Managing Partner of Equity Management Associates. He has spent his entire 38-year career as an investor, principally focusing on venture capital opportunities. Before co-founding EMA, Mr. Lepard spent 13 years at Geocapital Partners, in Fort Lee, NJ. There he was one of two Managing General Partners and was responsible for several venture capital funds. Before Geocapital, Mr. Lepard spent seven years at Summit Partners in Boston and California, where he was a General Partner at Summit I and Summit II. Mr. Lepard received his BA in Economics from Colgate University, and he received an MBA with Academic Distinction from Harvard Business School.

1h 12m

Mar 13

Darrell Bricker, CEO of Ipsos Public Affairs and co-author of "Empty Planet: The Shock of Global Population Decline," discusses the global population decline and its economic implications in a recent interview. According to Bricker, fertility rates are dropping, leading to accelerated population declines since 2016-2017, even earlier than anticipated in China. This trend has significant consequences for economies that rely on people for growth and labor. The global baby boom generation will reach retirement age by 2030, causing a rapid impact on the workforce. Countries like Japan and Italy already experience annual population declines. The UN offers three population projections: high variant (14 billion), medium variant (10.4 billion by 2100), and low variant (8.6 billion). Bricker notes that the median variant, representing the UN's projection, assumes a replacement rate of 2.1 children per woman. Environmental chemicals could impact hormonal disruption in fertility rates, but Bricker attributes the primary cause to cultural and psychological factors, such as humanity's changing perspective on creating future generations. Additionally, immigration and adapting to the birth rate of one's country of residence are common. Declining global fertility rates and population growth present challenges for the economy, as consumerism and consumption decrease with aging populations, leading to slower economic growth. Governments face political challenges when attempting to address these issues by pushing back retirement ages. Countries like Japan, Italy, Portugal, Spain, and Hungary are already grappling with significant population declines. Bricker acknowledges that the degrowth movement sees human activity as harmful to the planet and suggests fewer people would lead to less consumption and a better environment. However, he believes they underestimate the impact of such a transition. Bricker emphasizes that declining fertility rates require adaptation and will result in a different world for future generations. Data on declining fertility rates has become increasingly compelling, making it difficult to deny the issue. Bricker notes that this situation is unprecedented and requires careful consideration when making long-term business decisions, particularly in industries like mining and natural resources. Time Stamp References:0:00 - Introduction0:40 - Population Trends3:26 - Rapid Changes5:20 - U.N. Projections7:12 - Births & Urbanization10:45 - Family Economics14:07 - Retirement Age & Labor16:02 - Offshoring Labor21:09 - China Policies22:16 - Peak Projections25:46 - The Cake is Baked27:27 - Immigration?29:26 - Environment & Hormones32:20 - Possible Solutions?34:10 - Compelling Data35:40 - Future Resource Demand39:10 - Wrap Up Guest links:Website: https://www.ipsos.com/Twitter/X: https://twitter.com/darrellbrickerAmazon Book: https://www.amazon.com/Empty-Planet-audiobook/dp/B07MGSC2X5/ref=sr_1_1?sr=8-1 Bricker is the current Global CEO of Ipsos Public Affairs, a polling, research, marketing, and analysis company. While Bricker was completing his B.A. studies, he began to specialize in research, polling, and analysis methods. This led to further specialization during his M.A. and Ph.D. After completing his Ph.D. at Carleton University in 1989, Bricker was hired in the Office of Prime Minister Brian Mulroney as the Director of Public Opinion Research. After a year in the Prime Minister's Office, Bricker was hired by the Angus Reid Group, a polling and analysis company that eventually merged with Ipsos.

40m

Mar 11

Tom welcomes back Michael Pento, President and Founder of Pento Portfolio Strategies, to the show. Michael begins by focusing on the current state of the US financial system and potential risks ahead. With the bank term funding program expiring next week, there may be stress in the banking system as banks will have to repay credit received and take back their assets. Other risks include rising unemployment rates, impacting various loan markets, and indicators such as a contraction in the manufacturing sector for 16 months, an inverted yield curve, and increasing bankruptcies. Michael suggests that the economy is unhealthy and unbalanced, favoring the wealthy while harming the middle class and lower-income individuals. Michael feels there's potential for another liquidity crisis in the US banking system. While the Fed could implement measures like another bank term funding program, it would be problematic amid high inflation, potentially leading to higher long-term interest rates, increased borrowing costs, and a sovereign debt crisis. He argues that options for addressing a liquidity crisis are limited and any measures taken may have unintended consequences. Mr. Pento believes we're in a bubble economy due to excessive money printing and low interest rates. Pento expects inflation to continue to rise, leading to a recession and potentially a serious bear market for stocks. Pento discusses the relationship between gold and Bitcoin, suggesting that Wall Street and the general public have been more focused on Bitcoin due to its higher profile and influence of sponsors in financial media. He believes gold is a more reliable store of value and better hedge against inflation than Bitcoin. Michael advises investors to pay attention to economic cycles and consider active steps for protection, like diversifying into precious metals and actively managing your investments. Time Stamp References:0:00 - Introduction0:37 - Fed & Liquidity Levels3:39 - Bitcoin Tangent6:14 - Fed BTFP Program End9:38 - Unemployment & Banks11:48 - Economy & Manufacturing14:58 - Debt, Defaults, & Problems19:52 - Fed Inflation & Printing25:00 - Good Intentions & Roads27:10 - Gold Positioning & Rates30:20 - Hype Train & Bitcoin/Gold32:37 - Miners Vs. Physical34:18 - Avoid Losing Money!36:39 - Wrap Up Talking Points From This Episode Bank term funding program expires shortly which may cause increased stress in the banking system as banks must repay credit and reclaim assetss. Potential risks to financial sector include rising unemployment rates, impact on loan markets, and multiple negative indicators. Limited options exist for the Fed to address a liquidity crisis, and any measures taken could have unintended consequences. Guest Links:Website: http://pentoport.comE-Mail: mpento@pentoport.comTwitter: https://twitter.com/michaelpento Michael Pento is the President and Founder of Pento Portfolio Strategies with more than 30 years of professional investment experience. He worked on the floor of the NYSE during the mid-90s. Pento served as an economist for both Delta Global and EuroPacific Capital. He was also the portfolio creator and consultant to Delta/Claymore's commodity portfolios, which were distributed through Claymore/Guggenheim's sales network.

37m

Mar 08

Tom welcomes back private trader and newsletter publisher Kevin Muir of "The Macro Tourist" to the show. Kevin discusses the concept of "rolling mini bubbles" in markets. These bubbles form when an asset class or theme gains popularity among hedge funds, causing price increases based on perceived momentum rather than underlying value. Muir cited Tesla and the electric vehicle (EV) market as examples, noting that while these bubbles can inflate quickly, they also deflate rapidly. Muir suggested that certain stocks, particularly those related to EVs and artificial intelligence, are currently experiencing a bubble. He advised investors to focus on buying undervalued stocks and mentioned Japan as an area of potential value due to recent government actions benefiting the stock market. Muir also discussed the concept of reflexivity, introduced by George Soros, which suggests that investor actions can influence and be influenced by market performance, leading to more frequent and violent bubbles. The interview touches on Canada's economy, with Muir arguing that it is not as strong as the US despite similar fiscal stimulus during COVID-19. He pointed out that America spent more overall, experienced a larger housing bubble burst in 2008 leading to deleveraging, and currently has lower consumer debt compared to Canada. These factors make Canada more sensitive to higher interest rates, which Muir predicts will negatively impact the Canadian economy. Muir also discussed monetary stimulus, stating that it is less effective in changing behavior than fiscal stimulus. He suggested that recent inflation trends are partly due to a shift towards domestic production and increased labor bargaining power. Despite this, Muir noted that life may not necessarily become worse for the middle class, as higher wages and job security could offset inflation's impact. Muir also discussed monetary stimulus, stating that it is less effective in changing behavior than fiscal stimulus. He suggested that recent inflation trends are partly due to a shift towards domestic production and increased labor bargaining power. Despite this, Muir noted that life may not necessarily become worse for the middle class, as higher wages and job security could offset inflation's impact. Time Stamp References:0:00 - Introduction0:33 - Rolling Mini Bubbles4:18 - Chip Manufacturing8:03 - Demand & Rising Price9:52 - Bubbles & Risky Trades11:12 - Japanese Value Stocks16:04 - Monetary & Fiscal Stimulus25:40 - Spending Canada Vs. U.S.30:40 - Fiscal Dominance Era38:23 - Fiscal Spending & Inflation43:52 - Wags, Inflation & Gold51:15 - Eastern Gold Holdings54:04 - The Golden Endgame58:28 - Performance of Miners1:00:00 - Wrap Up Guest Links:Twitter: https://twitter.com/kevinmuirWebsite: https://themacrotourist.comSubstack: https://posts.themacrotourist.comPodcast: https://markethuddle.com/Email for Sample Letters: kevin@themacrotourist.com Kevin Muir started as an institutional equity derivative trader for a big Canadian bank in the 1990s. In 2000, Kevin decided that bank-life wasn't for him, so he traded his own account for the next two decades. Along the way, he started writing the MacroTourist newsletter, which he describes as an "almost daily" letter about the markets that still manages to have fun. The MacroTourist newsletter attempts to bring a unique take on a variety of different financial topics. Kevin's tagline is, "All I Bring to the Party is 25 Years of Mistakes." Kevin Muir is a CFA and a graduate of the University of Toronto economics program.

1h 1m

Mar 07

Tom welcomes back New York Times bestselling author, CNBC contributor, and Political Risk Expert Larry McDonald. Larry discussed the impact of political decisions on the U.S. economy and markets. He highlights the concerning trend of deficit spending relative to GDP, revealing that it cost the U.S. $834 billion to grow the GDP by $334 billion in the last quarter of 2023. He predicts a continued focus on short-term economic growth by politicians to retain power, leading to an inflationary economic environment. McDonald also discussed the potential implications for banks with commercial real estate holdings, emphasizing the need for Federal Reserve intervention as the market faces a significant downturn. He warned of a potential economic crisis if the Fed raises interest rates, putting stress on both banks and consumers. McDonald shares his insights on an impending energy crisis around 2025-2026. He attributes this coming crisis to factors such as population growth, improved living standards in developing nations, and inadequate capital investments in energy resources. He underscores the impact of geopolitical tensions and climate change on supply chains and inflation, shaping a shift towards a multipolar world order. McDonald suggests that these changes will influence the performance of precious metals, with potential disruptions creating opportunities for investors. He also emphasizes the importance of addressing sustainability concerns, noting that progress in this area may be slower than anticipated. McDonald's forthcoming book, set to be released in March, delves deeper into these pressing issues. Time Stamp References:0:00 - Introduction0:42 - Politics & Debt5:32 - Democrats & Spending10:12 - Loosening Talk & Effect15:28 - Banks & Commercial Losses19:27 - Economic Realities22:37 - Wealth Concentration27:54 - Risks - Stocks & Banking31:28 - Geopolitics & Conflicts38:10 - Precious Metals43:24 - Green Energy & Metals46:54 - Book Announcement48:54 - Wrap Up Talking Points From This Episode Deficit spending costs: U.S. spent $834B for $334B GDP growth in Q4 2023. Banks face commercial real estate crisis, may need Fed intervention. Predicted energy crisis 2025-2026 due to global factors and capital shortfall. Guest Links:Website: http://thebeartrapsreport.comTwitter: https://twitter.com/convertbondNew Book - Amazon: https://tinyurl.com/2capfzt9 Larry McDonald is a New York Times bestselling author, CNBC contributor, and Political Risk Expert. He is also the creator of The Bear Traps Report, a weekly independent Macro Research Platform focusing on global political and systemic risk with actionable trade ideas. Thought-provoking Larry McDonald presents his captivating views on the Trump Administration, U.S. Financial Crisis, European Sovereign Debt, and China's Economic Meltdown - spiced with actionable risk indicators, risk management lessons, and sprinkled with humor. In 2016, Larry McDonald joined ACG Analytics in Washington D.C., as a partner with a unique skill set, as one of today's leading political policy risk consultants and strategists. From 2011 - 2016, he was Managing Director and Head of U.S. Macro Strategy at Society Generale. In 2010 he founded an investment research firm which publishes the The Bear Traps Report, focused on Political and Systemic Risk with actionable trade ideas. Larry makes weekly appearances on CNBC as a contributor focused on political and economic risk and opportunities. In late 2006, as Vice President at Lehman Brothers, he led his team into betting against the subprime mortgage market, profiting the firm over $2 billion before its demise. In 2009, he wrote the international bestseller A Colossal Failure of Common Sense, The Inside Story of The Collapse of Lehman Brothers - translated into 12 languages, selling over 400,000 copies. Prior to working at Lehman, he was the co-founder of Convertbond.com, a website that provided convertible securities ...

49m

Mar 04

Tom welcomes back Francis Hunt, Founder of "The Market Sniper" to the show. Francis discusses the current market dynamics, opportunities in gold and crypto markets, and the prospect of an impending financial crisis. Hunt draws attention to the performance of Bitcoin compared to gold, declaring the former's rapid growth as compelling despite its recognized risks. In light of these observations, he encourages investors to be adaptable with their strategies, hinting at the possible advantage of divesting from Bitcoin at its peak and redirecting to gold. Hunt prognosticates 2022 as a crucial year due to the convergence of significant events including elections, halving of Bitcoin, and fluctuations in quantitative easing and tightening. Analyzing the long-term differential between 30-year and 2-year bonds, Hunt warns of an upcoming financial meltdown due to the yield curve inversion, positioning it as an almost certain harbinger of economic turmoil. He foresees a massive sell-off fueled by potential banking crises and debt markets. Hunt further contemplates the impact of high levels of debt on the economy, using Japan's experience as an illustrative case. He attributes the country's economic stagnation in part to its heavy debt, a situation that resulted in the yen's depreciation and, paradoxically, enhanced competitiveness of Japanese companies globally. Despite the immediate challenges, Hunt is optimistic about the performance of Japan's stock market due in part to their depreciating currency and globally competitive corporations. Turning his scrutiny to the state of the global debt market, Hunt asserts that faith in debt has dwindled, signaling the end of the 40-year bond bull market. The reluctance of banks to accept illiquid assets as collateral indicates an even bigger issue, foreshadowing elevated interest rates and an impending crisis. As the global economy edges towards a potential debt collapse, he advocates for investing in gold as a consistently safe asset. He proposes a sequence to amplify wealth: initiate with gold, then silver, and finally miners, presenting these options as a safeguard against impending economic instability. Despite his frank appraisal of the risks inherent in the current economic climate, Hunt reiterates his support for precious metals as a viable hedge against financial turbulence. Time Stamp References:0:00 - Introduction0:42 - Investing Approaches2:12 - Insider Selling4:55 - Bitcoin in Gold Ounces12:50 - Bitcoin Sentiment16:16 - Bitcoin Vs. Dollar20:45 - Volatility & Exits21:50 - Silver Outlook23:04 - Gold Vs. Dollar28:22 - 2024 Outlook & Fed32:04 - Treasury Inversion37:30 - Cause and Effect38:55 - Debt Implications50:50 - Outlook For Pensions54:50 - The Bond Market Shift58:00 - Real Bubble is Debt1:02:13 - Wrap Up Talking Points From This Episode Bitcoin's rapid growth compared to gold is compelling, but it comes with risks. Adaptability in investment strategies, like divesting from Bitcoin at its peak, can be advantageous. The convergence of events in 2022, like elections and Bitcoin halving, could trigger a financial crisis. Yield curve inversion suggests an imminent economic meltdown with potential banking crises. Global debt market signals the end of a 40-year bond bull market. Banks' reluctance for illiquid assets as collateral hints at rising interest rates and a looming crisis. Invest in gold for stability. Guest LinksTwitter: https://twitter.com/themarketsniperWebsite: https://themarketsniper.com/YouTube: https://www.youtube.com/user/TheMarketSniper Francis is a trader, first and foremost. Unlike most educators in the trading space, Francis walks the walk and talks the talk, with 30 years of experience trading his personal capital on various markets and instruments. Through this passion for trading and his relentless study of markets and economic theory, he uses the Hunt Volatility Funnel trading methodology, a systemized approach,

1h 4m

Mar 01

In the second half of this interview, London Paul dives into the recent interview with Tucker Carlson, London Paul reflects on the significance of Vladimir Putin's discussion on a range of topics. While many expected the interview to be a game changer, Paul argues that it did not provide any new information and criticizes Putin's history lesson as self-indulgent. He suggests that Carlson could have asked tougher questions. Paul believes that the interview, while it may have rattled some in the West, was not as groundbreaking as people believed. He points out that other events, such as Putin's 2018 speech on Russia's military capabilities, have had more significant implications. Paul then discusses the lessons NATO has learned from the war in Ukraine. He argues that NATO initially underestimated Russia's military capability and has now come to realize its strength. He also dismisses the belief that Russia wants to recreate the Soviet Union and invade the Baltic republics. Paul predicts that if Ukraine loses the war, NATO will face division and its future will be in doubt. He also suggests that there will be political fallout within Ukraine and among European nations, potentially leading to the rise of populist governments and questioning the future of the European Union. Paul explains the difference between a war and a special military operation and emphasizes that Russia is conducting a special military operation in Ukraine. He highlights the importance of avoiding a situation where Russia declares war on Ukraine to prevent further escalation and a potential global nuclear war. He acknowledges growing concerns within the US about financing the war and emphasizes the need to end the conflict due to its devastating impact on the Ukrainian people. Lastly, Paul argues that the US has lost its military power and is facing numerous challenges and conflicts that it cannot effectively manage. Despite this, he believes that if the US faces reality and adapts, it can still be a great nation amongst equals. He encourages listeners to be informed about global events and mentions his podcast, which releases five episodes per week. Time Stamp References:0:00 - Introduction1:20 - Putin Tucker Interview15:14 - NATO & Political Failure19:46 - Ukraine Post War24:20 - War Vs. S.M.O33:05 - Western Bias & Dominance37:45 - Israel & Gaza41:00 - Western Fears & Reality47:32 - Embracing Change50:52 - Wrap Up Talking Points From This Episode London Paul believes that Vladimir Putin's recent interview with Tucker Carlson was not as groundbreaking as people expected, as it did not provide new or surprising information. Paul predicts that if Ukraine loses the war with Russia, NATO will face division and its future will be in doubt, potentially leading to the rise of populist governments and questioning the future of the European Union. Paul emphasizes the importance of avoiding a situation where Russia declares war on Ukraine, as it could lead to further escalation and potentially trigger a global nuclear war. Guest LinksTwitter: https://twitter.com/thesiriusreportWebsite: https://www.thesiriusreport.com/YouTube: https://www.youtube.com/@thesiriusreport The Sirius Report is an independent website providing analysis and an alternative perspective on current affairs and global events that we believe are shaping a new political, economic and social paradigm. We are fully self-funded and are not backed by any third-party corporation, organization, or individual. The site is run by ‘London Paul’ and his partner Lisa, who is the site administrator. ‘London Paul’ is a pseudonym that was first coined by long-time friend and fellow commentator Jim Willie. For privacy reasons, Paul prefers not to be known by his real name. He also feels that the primary focus should be on his work rather than on his identity. Paul has a long track record of accurate predictions and analyses on geopolitical and economic affairs.

53m

Feb 29

Tom welcomes back Paul from the Sirius Report to continue discussing the geopolitical shift from a unipolar world to a multipolar world. Paul highlights the failure of the traditional unipolarity model for economic reasons, particularly since the financial crisis of 2008. The global South wants to assert its autonomy and make its own decisions, which has led to a push for de-dollarization and the development of alternative payment mechanisms. The Ukraine war and the imposition of sanctions on Russia have shown that it is possible to function outside the SWIFT system and conduct transactions in local currencies. The global South also points out that it has a real economy based on manufacturing and production, unlike the West, which is heavily dependent on financialization. The economies of the BRICS countries, in total, are now higher than the G7 economies, further highlighting the shift towards multipolarity. In terms of resources and energy, the conflict in Ukraine highlighted their importance in the world. Russia's resilience in the face of sanctions showed the rest of the world that they could operate outside the dominant Western paradigm. Energy is the lifeblood of nations, and countries like Russia and Iran have vast resources that are essential for the world's energy needs. The global South, with its access to resources and lack of financialization, is in a better position for long-term growth compared to the debt-ridden West. Collaboration and win-win partnerships will be essential for a multipolar world to thrive. Paul also discusses the looming commercial real estate bubble and its slow-burning effect on the economy. The pandemic has led to a decline in demand for commercial real estate, and although the too big to fail banks may not be directly affected, their investments in the shadow banking sector make them vulnerable. The regulators are starting to pay attention, but it may be too little, too late. The Western financial system faces multiple challenges, such as debt levels, deindustrialization, and the instability of the US dollar. Attempting to preserve financialization and the dollar while the real economy suffers is not a sustainable solution. Paul highlights the interconnection between the financial system and the real economy, emphasizing the importance of resources and energy for a sustainable system. He warns against the fudging of financial and economic data, stating that printing money can have inflationary consequences and lead to the implosion of the economy, as seen in Weimar Germany. In contrast, Eastern nations like China are buying gold to preserve wealth and insulate themselves from the US dollar and US Treasuries. China, along with other Eastern countries, focuses on building a real economy and backing their currencies with tangible assets. Understanding these different approaches and perspectives is crucial in recognizing the shift towards a multipolar world. Time Stamp References:0:00 - Introduction0:57 - Complexities & Geopolitics12:10 - Sanctions & Global South17:18 - BRICS & Untapped Resources26:20 - Big Banks & "Assets"35:20 - Dollar System Failing48:06 - West Vs. East Discipline57:28 - Investment in China Talking Points From This Episode - The shift from a unipolar to a multipolar world is driven by the global South's push for autonomy and de-dollarization. - Energy and resources play a vital role in the shift towards multipolarity, benefiting countries with access to these assets. - The Western financial system faces challenges such as a commercial real estate bubble, debt levels, and the unstable US dollar. Guest LinksTwitter: https://twitter.com/thesiriusreportWebsite: https://www.thesiriusreport.com/YouTube: https://www.youtube.com/@thesiriusreport The Sirius Report is an independent website providing analysis and an alternative perspective on current affairs and global events that we believe are shaping a new political, economic and social paradigm.

1h 3m

Feb 28

Tom welcomes back Kevin Wadsworth of Northstarbadcharts.com discusses various aspects of investing, highlighting the importance of risk management and identification of technical indicators to potentially predict market direction. The discussion reveals that while individual stock gains can impress, assessing the percentage gain a portfolio has made is a more significant measure of success. Specific strategies like application of stop losses and position sizing within risk management protocol are also clarified as useful investment tactics. The evaluation of gold performance as a protective hedge against negative market outcomes is explored. The usage of ratio charts to identify gold miners overperforming the ASA index is also advocated. The analysis reveals the increasing prominence of uranium, potentially signaling a shift of capital into this sector. By judging economic indicators through a technical lens, predictions can be made regarding impending market dynamics. A probing analysis is made of Nvidia which is nearing two trillion market cap. A possible bearish rising wedge in the company's chart suggests a potential increase towards $1,300 by November with a subsequent post-election decline. The interview concludes with a hypothesis regarding an impending market shift, identifying a yield curve inversion where the 10-year yield has a higher interest rate than the 2-year yield as a potential crisis signal. A shift in capital towards precious metals is predicted as a potential catalyst for real growth. Time Stamp References:0:00 - Introduction0:46 - Bets & Risk Management6:20 - Sentiment & Gold8:43 - Gold & Mad Gainz11:45 - Thoughts on Silver15:05 - ASA Miners Vs. Gold18:46 - Finding Opportunity20:29 - Uranium Chart25:55 - Stops & Mitigating Risk27:10 - Volume Usefulness30:22 - US Treasury Charts34:44 - Big Picture Thinking41:38 - Silver Vs. Dollar42:40 - NVIDIA Mkt. Cap46:04 - 10 Year Risk Matrix53:21 - DXY Vs. Gold56:33 - Markets This Fall58:22 - FOMO & Gold Vs. Dollar1:03:48 - Evidence & Confidence1:06:39 - Wrap Up Guest Links:Twitter: https://x.com/NorthStarChartsWebsite: https://NorthStarBadCharts.comYouTube: https://youtube.com/c/NorthstarChartsTwitter: https://x.com/badcharts1 Kevin Wadsworth is a seasoned chart trader with over 15 years of experience and a strong following on social media. With a background in meteorology spanning over 30 years, he has worked in various professional roles, including military and civilian weather forecasting. Currently serving as a Civil Contingency Advisor, Kevin provides advanced warning and guidance for life-threatening weather events and collaborates with emergency response teams. His interest in the financial world was sparked by a colleague in the early 2000s, and he became particularly fascinated after the 2008 financial crash. Drawing parallels between weather forecasting and predicting market movements, Kevin emphasizes the importance of gathering evidence from various sources, much like assessing multiple weather models. His approach focuses on presenting clear, unbiased charts based on the weight of evidence, rather than personal bias. Kevin's expertise lies in distilling complex information into actionable insights, whether it's forecasting weather patterns or market trends.

1h 10m

Feb 23

Tom welcomes back Egon von Greyerz, founder and managing partner at Von Greyerz Gold Switzerland. Egon highlights concerns about the current state of the global economy. He underlined the mounting national debts and potential for war as the two primary factors adding to the world's chaos. Despite this, he stresses the importance of focusing on individual wellbeing and controlling what can be influenced personally. Greyerz suggests investment in gold as an effective method of wealth preservation. This is because gold maintains its purchasing power over extended periods, even as fiat currencies lose value. Greyerz predicted a surge in gold interest as a safe haven amid increasing national deficits and economic instability worldwide. The attractiveness of gold is amplified by the potential impacts of overdue debts, particularly in the real estate sector. Furthermore, Greyerz draws attention to the significant shift in the U.S. government's method of funding debt. As central banks continue to create fiat currency, many countries are offloading their U.S. treasury bonds, leaving the Federal Reserve as the main purchaser. This situation, combined with an inflationary world economy, may trigger more financial troubles. Greyerz expresses concerns that governments could potentially confiscate assets or force investment into specific securities such as U.S. treasuries. Moreover, Greyerz warns of the risks associated with investments in Bitcoin and Gold ETFs, emphasizing the need for owning physical gold stored outside the banking system for effective wealth preservation. Despite an overall gloomy prediction for the global economy, Greyerz urges investors to focus on non-monetary values such as family ties and personal relationships. Time Stamp References:0:00 - Introduction1:30 - Wealth Vs. Living2:33 - Gold Fundamentals12:55 - Dollar & Debt Outlook18:17 - BRICS & Russia20:22 - C.B. Gold Buying29:42 - U.S. Gold Holdings?33:25 - Counterparties & Audits34:49 - Scarcity & Balance37:04 - Inflation & Wars39:16 - Fed & Rates44:10 - Other Assets?47:38 - Gold ETF Concerns51:08 - Concluding Thoughts53:22 - Wrap Up Talking Points From This Episode Why Gold reliably retains purchasing power over time, unlike fiat currencies." Exponential gold price rise predicted due to increasing demand, limited supply. Greyerz cautions the risks of potential government confiscation of assets in banks. He also notes that the best things in life are free and help those around you. Guest Links:Website: https://vg.gold/Website: https://www.goldswitzerland.comTwitter: https://twitter.com/GoldSwitzerland Egon von Greyerz is Founder & Managing Partner of Von Greyerz Gold Switzerland Egon began his professional life in Geneva as a banker and thereafter spent 17 years as the Finance Director and Executive Vice-Chairman of Dixons Group Plc. During that time, Dixons expanded from a small photographic retailer to a FTSE 100 company and the largest consumer electronics retailer in the UK. During the 1990s, Egon became actively involved with financial investment activities including mergers and acquisitions and asset allocation consultancy for private family funds. This led to the creation of Von Greyerz as an asset management company based on wealth preservation principles. Von Greyerz is now the world’s leading company for direct investor ownership of physical gold and silver outside the banking system. Our vaults include the biggest and safest gold vault in the world, located in the Swiss Alps. Clients include High Net Worth Individuals, Family Offices, Pension Funds, Investment Funds and Trusts in over 90 countries. Egon makes regular media appearances and speaks at investment conferences around the world. He also publishes articles on precious metals, the world economy and wealth preservation.

54m

Feb 22

Tom welcomes back once again the Head Writer from the Doomberg Chicken Coop. In this interview Doomberg breaks down many of the energy myths around supply and scarcity in an era of technological advancement. Doomberg discusses the hotly contested concept of 'peak cheap oil,' which asserts that the global economy will soon experience a severe decline in easily affordable oil due to dwindling supplies. Given a humorous twist, Doomberg confidently counters this theory in a manner that ruffles a few feathers amongst its proponents. Despite his animated personality, Doomberg intelligently lays out a counter-narrative to the peak oil theory, asserting that technological advancements and human adaptability would consistently flex and adapt under the strain of assumed dwindling oil reserves. This plucky chicken argues that, contrary to popular belief, if there was an imminent oil crisis, current political and economic constraints would dissipate, causing nations to rally together and adopt necessary measures to prevent disaster. Like an experienced egg-cracker, Doomberg breaks down the processes of oil refining, expressing faith in the industry's ability to convert various hydrocarbon types into numerous usable oil products. So, even when lighter hydrocarbons are at play, Doomberg insists they can be transformed into heavier substances like jet fuel, demonstrating the industry's adaptability. In laying out potential solutions to the imminent dread of peak oil reality, Doomberg sounds the rooster's crow, waking us to the possibilities we would explore to keep oil supply constant and prices economical. Doomberg avows that political restrictions would be shed, conventional oil reserves exploited, shale drilling technology would become widespread, and enormous natural gas reservoirs would be tapped. This talking Chicken Little goes even further to say that faced with skyrocketing oil prices, we would simply alter our engines to run on cheaper, abundant natural gas. Doomberg does not mince words about the central importance of energy to the economy, reminding us that despite several crises since the 70s, our primary energy use continues to grow, showcasing our resilience and adaptability. Moreover, Doomberg reiterates that we are far from exhausting accessible and affordable oil— the limitations are more political and temporary than physical or absolute. The talkative chicken does a beak drop on the shale oil industry, clarifying that while it is concentrated heavily in the US, the technology can be copied and used globally, particularly by significant players like China. To cap it off, Doomberg reaffirms that we have plentiful oil reserves, and our innovative abilities, coupled with political compromises, would forestall any imminent oil crisis. In this engaging conversation laced with comedy and fowl-play, Doomberg manages to debunk several misconceptions about oil exhaustion and the looming energy crisis, presenting a future marked by human ingenuity and widespread energy production. Whether it's talking about oil, natural gas, or ethanol, it's clear that Doomberg is no chicken when it comes to tackling complex topics and laying out hard-boiled facts. Time Stamp References:0:00 - Introduction0:35 - Twilight in the Desert?9:54 - Crude Production15:42 - SPR & Inflation22:00 - Oil's Importance24:54 - Nuclear Narratives27:06 - Energy Needs & Growth28:54 - Artificial Limits?31:34 - Global Reserves33:26 - Shale & Analysts35:58 - China & Energy Tech.37:40 - Russian Resources40:07 - Iran & Politics42:28 - New World Oil44:58 - U.S. Manufacturing48:34 - Recession & Energy50:10 - SPR & Politics53:24 - Oil Price & Inflation59:43 - Ethanol & Hydrogen1:04:06 - New & Future Tech.1:05:15 - Critiques?1:08:56 - Wrap Up Talking Points From This Episode Technological advancements and human adaptability consistently outpace fear-driven predictions of depleting oil reserves. Our adequate oil reserves coupled with our inno...

1h 10m

Feb 20

Tom welcomes back Nick Giambruno, founder of The Financial Underground and Editor-in-Chief of the Contra Speculator. In this eye-opening discussion, Nick Giambruno exposes the truth behind the banking system and challenges the common misconception that the money in your bank account belongs to you. Through a detailed analysis, he reveals the legal and financial realities that make you an unsecured creditor of the bank, rather than a rightful owner of your funds. Discover the shocking implications of this arrangement and how it places you at the mercy of the banking establishment. Brace yourself for a paradigm-shifting perspective on your hard-earned money. Cautioning on the potential fallout of an escalating interest expense on federal debt, Giambruno expresses worries over the Federal Reserve's continued interest rate hikes. Massive interest payments could lead to the federal government's bankruptcy. Borrowing money to service existing debt means mounting, potentially catastrophic, debt levels. He expresses skepticism over Central Bank Digital Currencies (CBDCs), viewing them as a desperate rescue attempt for the failing fiat system. In contrast, he sees Bitcoin as a formidable central bank competitor. Discussing the geopolitical scenario, Giambruno expresses concern over the increased US expulsion from the Middle East and the likelihood of escalating conflicts. This situation, he posits, could affect oil-related equities. From his base in Argentina, he observes the anticipated presidency of Javier Milei, who may refrain from dollarization to maintain sovereignty and could transition towards a free market currency system. Nevertheless, he points out that this is a challenging transformation requiring an extensive overhaul of the existing system. Time Stamp References:0:00 - Introduction0:38 - Henry Ford Quote5:50 - Money Vs. Currency10:16 - Capital Controls & Collapse11:46 - The Hiking Cycle is Over15:06 - Why CBDCs Will Fail18:22 - Bitcoin & Alternatives20:32 - Silver's Future Role22:16 - Fragile Oil Markets25:50 - Conflicts & Geopolitics31:00 - Risk of False Flags31:53 - Argentina & Javier Milei35:27 - El Salvador & Bitcoin37:12 - Wrap Up Talking Points From This Episode Challenging the common misconception that the money in your bank account belongs to you. The Federal Reserve's continued interest rate hikes and potential fallout on federal debt. The geopolitical scenarios and concern over increased conflicts in the Middle East. Guest Links:Website: https://financialunderground.comTwitter: https://twitter.com/NickGiambrunoWebsite: https://nickgiambruno.com Nick Giambruno is a renowned speculator and international investor. He's the Founder of The Financial Underground and Editor-in-Chief of its premium investment research publication Contra Speculator. Nick travels the world searching for lucrative investment opportunities in overlooked markets. Nick specializes in identifying Big Picture geopolitical and economic trends ahead of the crowd. His approach to investing also focuses on profiting from distortions in the market. This includes identifying unfounded pessimism in beaten-up industries, which creates opportunities for enormous gains. He writes about geopolitics, value investing in crisis markets, Bitcoin, international banking, second passports, international diversification, and surviving a financial collapse, among other topics. Nick has traveled to over 60 countries and lived in six of them. He formerly worked in the Middle East with a Dubai-based investment bank. He has been featured in The Economist, Forbes, Zero Hedge, Seeking Alpha, The Herald of Zimbabwe, The Keiser Report, MoneyWeek, Casey Research, International Man, The Crux, Gold Newsletter, The Jet Setter Show, Lew Rockwell.com, The Tom Woods Show, International Living Magazine, Wall St for Main St, Emerging and Frontier Markets Investing, AntiWar.com, The Power & Market Report, Mountain Vision,

10m

Feb 16

Sam Lawrie from Adams Bullion converses with your host Tom Bodrovics about the US market's response to the recent hotter-than-expected CPI inflation data. The data increased the value of the US dollar and consequently caused a significant decrease in gold and silver value. They assess the long-term implications, noting that sustained high interest rates could greatly increase the cost of the maturing US national debt. Lawrie acknowledges that initially, high-interest rates may discourage gold investments but maintains that a bullish perspective on gold is more favorable in the long term. The termination of the Bank Term Funding Program might trigger downside movements, he suggests. Lawrie speculates that Jerome Powell's unexpected switch in stance concerning interest rates in December could be due to a possible banking sector crisis. He notes a political push for lower interest rates in countries such as Australia and argues that despite being above inflation targets, having lower rates benefits lower-income individuals, which could push the economy towards hyperinflation. The conversation covers the political use of the oil market, with Lawrie attributing the draining of the SPR last year to inflation moderation. He also highlights the current Middle-Eastern issues and the strained relations with Iran as potential triggers for oil price increase. Lawrie predicts that inflation will intensify over time, driven by high oil prices which will increase the cost of nearly all goods. He argues that people are inclined to spend money today if they believe it will lose value tomorrow. Despite the predicted intensification of inflation, Lawrie notes that several western governments are considering ways to manage inflation. He discusses the consequences of central bank gold leasing on gold revaluation and advises people to contemplate national-level counterparty risk regarding gold ownership if a revaluation event occurs. The conversation also covers the US stock market, with Lawrie pointing out the substantial gains from top companies like Facebook, Google, and Microsoft. He characterizes the situation as strange, likening it to a bubble where fundamentals no longer bear significance. Lawrie is also keeping a keen eye on Treasury auctions, noting that if there aren't enough buyers, the Federal Reserve might have to buy some of that debt. Lawrie concludes the conversation by noting an increased interest in precious metals from first-time buyers and an evident shift towards silver due to the gold to silver ratio, despite supply chain issues and rising freight costs. Time Stamp References:0:00 - Introduction0:35 - CPI Reports & Gold Mkt.4:05 - Fed Bank Term Funding5:17 - DXY Vs. Gold7:55 - Fed & Powell Reversal13:40 - Oil, SPR & Inflation17:00 - China Reopening19:08 - Peak Oil & Shale21:03 - Inflation Outlook & Rates29:08 - Debt & Systemic Risks33:32 - Equity Market Value36:24 - 2024 Outlook & Bonds39:13 - Gold Sales Trends42:26 - Wrap Up Talking Points From This Episode The recent CPI inflation data caused a decrease in the value of gold and silver, but a bullish perspective remains in the long term. Jerome Powell's switch in interest rate stance in December may indicate a possible banking sector crisis. Inflation is predicted to intensify over time due to high oil prices, leading to an increased interest in precious metals. Guest Links:Website: https://adamsbullion.comTwitter: https://twitter.com/adamseconomicsYouTube: https://www.youtube.com/@thepubliccrusader Sam Lawrie has worked in the financial services industry for 5 years across CFD broking, algorithmic trading, equities analysis services and bullion dealing. He is an avid precious metals investor and advocate, having started his precious metals journey in 2018. Sam has worked with thousands of clients over the years, teaching them about finance, economics, and precious metals, helping them to protect themselves financially.

43m

Feb 15

Tom Bodrovics your host welcomes back Dave Kranzler from Investment Research Dynamics. They discuss the media interview with Vladimir Putin, the contemporary stock market, economic uncertainties, and potential financial reforms. Kranzler appreciates the Carlson interview as a rare example of genuine journalism that reveals Putin's motives and the U.S.' provocative interventions in stark contrast to the narratives of mainstream media. Speaking as an investor, Kranzler analyses the dominance of a few companies in the S&P, suggesting it to be an indicator of a stock market bubble. He posits that the Federal Reserve may be trying to avert a banking crisis by reinflating the bubble, but warns this could lead to inflation and social disparity. Recognizing vulnerabilities in the commercial real estate sector, Dave anticipates a black swan event caused by the overwhelming debt of $117 billion this year and over $1.5 trillion by 2025. The implications of escalating U.S federal debt are also discussed, suggesting the Federal Reserve may need to print more money if a significant foreign financier withdraws. They examine the deceptive representations in government economic reports and the prevailing economic hardships ignored by these reports. Despite partisan politics obstructing genuine reform, they urge for term limits and campaign finance reform, while recognizing the improbability of such changes without a societal reset. Dave stresses the importance of rigorous analysis rather than relying on company reports alone when investing, suggesting that companies like Snap and Tesla are overvalued. He predicts that the market may eventually favor companies producing essential raw materials, following a market crash. They comment on the current investment culture, dictated by momentum and technological influence, and advocate for traditional metrics and investing standards. Investments in well-run gold and silver companies are presented as a prime example of value stocks. Discussing market competitiveness, they denote the need for companies to maintain their share price, using Fortuna Silver as an example. Despite a temporary setback, its future prospects appear promising due to new discoveries and share buyouts. Despite the uncertainty and price manipulation in the precious metals sector, they remain optimistic of a future bull cycle, driven by factors such as high inflation, political instability, and geopolitical risks. International demand also provides a safety net for gold prices. Time Stamp References:0:00 - Introduction0:43 - Putin/Tucker Interview4:40 - Bias & Poking The Bear11:00 - S&P500 & Tech Bubbles15:05 - Perception & Risk20:54 - Looming Black Swans24:40 - Federal Debt Refinancing29:28 - GDP "Growth", CPI & Reality32:47 - The Silent Recession36:42 - Unfixable Problems41:00 - Pain Before Reset42:50 - Company Valuations49:26 - Miners & Valuations55:07 - Sentiment & Apathy58:08 - Metal Fundamentals1:03:52 - Market Behavior & Risk1:07:54 - Concluding Thoughts1:12:52 - Wrap Up Talking Points From This Episode Kranzler identifies a stock market bubble, warns of potential inflation and social disparity instigated by Federal Reserve actions. Discussions forecast a 'black swan event' in the commercial real estate sector and potential money printing due to increasing U.S. federal debt. Kranzler advocates for rigorous, unbiased investment analysis and prefers value stocks in gold and silver companies despite market uncertainties. Guest Links:Twitter: https://twitter.com/InvResDynamicsWebsite: https://investmentresearchdynamics.comNewsletter: https://investmentresearchdynamics.com/mining-stock-journal David Kranzler spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, he traded junk bonds for Bankers Trust. Dave earned a master's degree in business administration from the University of Chicago, concentrating on accounting and finance.

1h 13m

Feb 13

Tom welcomes back Justin Huhn, founder of the Uranium Insider Newsletter, to discuss the unusual dynamics of today's uranium market. Huhn points out the current lack of secondary supplies which has led to a significant deficit expected to last until large projects become operational in three to five years. These multiple buyers vying for limited supplies should keep prices high for some time. In Kazakhstan, Kazatomprom continually drills to maintain crucial uranium production levels. However, the industry faces a notable shortage of skilled workers, a problem not confined to Kazakhstan, but also affecting the United States and Canada. The potential ban on imports of Russian uranium into the US, currently awaiting Senate approval, could lead to further price increases if passed. Huhn also discusses China's considerable impact on the uranium market. Despite having a large geographic area, China lacks substantial uranium resources. With 55 gigawatts of nuclear capacity and 26 reactors under construction, the country's domestic demand far surpasses supply. Therefore, China seeks international contracts, recently signing substantial deals with KazAtomProm, the world's leading uranium producer. Unlike Western strategies, China aims for a stable long-term supply strategy, making it unlikely they will become uranium sellers, despite owning the world's largest uranium inventory. Huhn notes that while nuclear utilities might not like escalating uranium prices, they can transfer these costs to rate payers as uranium is a minor faction of their operating budgets. High uranium prices are beneficial to the industry and are expected to continue due to growing demand and supply constraints. The chance of the current market creating overheating on underlying assets remains uncertain. However, Huhn expects profit-taking after gains. The discussion concludes with predictions of a continuing bullish market and rising prices due to looming demand. The belief is that despite potential roadblocks, the industry must address the increasing demand for nuclear energy, underscoring the robust health and growth of the nuclear industry. Time Stamp References:0:00 - Introduction0:39 - Unprecedented Dynamics3:22 - Inflation Adjusted Chart7:30 - New Uranium Projects10:42 - Mine Development Time15:00 - KazAtomProm Production17:30 - Risks Both Left/Right19:10 - Russia Imports/Sanctions22:40 - Financial Mkt. Impacts26:10 - Price Stability Importance31:00 - Nuclear Plant Restarts31:53 - Contracts & Deliveries36:26 - Chinese Market Impacts41:03 - Current Equity Conditions46:42 - Thoughts on Cameco48:28 - Wrap Up Guest Links:Website: https://www.uraniuminsider.com/Newsletter: https://www.uraniuminsider.com/newsletterTwitter: https://twitter.com/UraniumInsiderYouTube: https://www.youtube.com/@UraniumInsider Justin is the Founder and Publisher of the Uranium Insider Pro Newsletter. Through the combination of rigorous fundamental analysis and Justin's thorough understanding of technical analysis, determinations are made for select companies to be included on Uranium Insider Pro's "Focus List," as well as the most opportune times for entry or exit. Justin is frequently asked to offer his commentary on various media forums, including Crux Investor, Smith Weekly, Palisades Gold Radio, Mining Stock Education, and Mining Stock Daily. He also regularly participates in the post-earnings commentary that is broadcast immediately after industry majors release quarterly earnings. Justin is devoted to bringing value to those that are taking their first look at the uranium sector. Until July 2020, he distributed a complimentary newsletter as an educational tool to those investors seeking to familiarize themselves with the complexities and opportunities offered by the uranium sector and the uranium shares. Regrettably, the Uranium Insider Pro subscription letter's subscriber growth and breadth no longer allow him to provide this tool.

51m

Feb 08

Tom Bodrovics welcomes back the always forthright Chris Irons. Chris is the host of the Quote the Raven podcast and author of QTR's Fringe Finance Substack. Irons discusses his perspectives on the current state of the financial markets, addressing the massive global debt and the potential lagging impacts of the rapid rate hikes. Despite previously predicting a market crash, Irons admits that the timing was not correct, and acknowledges the unexpected resilience of the global markets. However, the aftereffects of the significant debt bubble are inevitable and the monetary authorities for underplaying this financial predicament. Chris examines the concerning U.S. economic policy choices and the country's worrying $34 trillion debt. He condemns the lack of understanding and oversight by Congress members, and argues that these actions could lead to economic consequences. He also raises questions on the sustainability of the U.S. dollar as the primary world reserve currency. Discussing investment strategies, Irons discusses the high valuations in tech stocks, an indicator of a distorted economy. Furthermore, he anticipates future market crashes and suggests investing in tangible assets, like gold, silver, and Bitcoin. Irons also forecasts a significant rise in gold prices. Irons, who once expressed skepticism about Bitcoin, now praises the crypto asset's resilience. As Bitcoin's network grows, it becomes stronger and more unhackable, even in the face of potential threats from entities that could ban its use. He predicts further adoption of Bitcoin as part of standard smartphone features and a surge in Bitcoin's price due to a decline in the dollar's value and the launch of Bitcoin ETFs. Irons has his reservations about leaders like Justin Trudeau and Joe Biden, Irons expresses optimism upon seeing libertarian Javier Milei's election in Argentina and Salvadoran President Nayib Bukele's high approval rating. Finally, Chris criticizes U.S liberal policies for perceived negligence regarding issues such as maintenance of cities and border control. He suggests that the U.S could manage these issues better if they chose to do so. With a critical view on President Biden's performance and suggestion of a preference for Trump, Irons encourages investments in gold, silver mining, real estate, emerging markets, and Bitcoin to sustain through the alleged imminent economic downturn. Time Stamp References:0:00 - Introduction1:16 - Hikes, Cycles, & Timing12:46 - Peak Idiocy & Magazine Covers19:55 - Eventual Inevitable Pivot22:45 - No Recession in 2024?30:00 - A New Chapter For Gold32:39 - Fed Cuts & Gold Reversal?39:09 - Bitcoin Research & Gold1:05:22 - Western Leadership Shift?1:08:22 - Argentina & Adjustment1:15:14 - Optimism Vs. Reality1:18:45 - Wrap Up Talking Points From This Episode Chris warns of the inevitable aftermath of the significant global debt and criticizes monetary authorities for downplaying it. Despite past skepticism, Irons now praises Bitcoin, anticipating increased adoption and a surge in its price due to declining dollar values. Irons criticizes U.S. liberal policies regarding city maintenance and border control, advocates for diversified investments to sustain a potential economic downturn. Guest Links:YouTube: https://www.youtube.com/channel/UCxUo55-0ScpOQNdug8FCzzA/videosPodcast: https://quoththeraven.podbean.comSubstack + Discount: https://quoththeraven.substack.com/subscribe?coupon=92245385Twitter: https://twitter.com/QTRResearch Chris Irons is the host of The Quoth The Raven Podcast, a show dedicated to discussing Fringe Finance topics and exploring the boundaries of investment decisions. Irons has spent years reading the news and has developed a strong opinion on the mainstream media's ability to drive a narrative which serves the interests of a small minority. His focus is to provide content that is rarely found elsewhere and to curate content from people he respects.

1h 20m

Feb 05

Tom Bodrovics welcomes back once again, Dr. Stephen Leeb of Leeb Capital Management to discuss China's overall growth and the geopolitical impact. Leeb articulates his perspective that the recent slump in China's stocks has minimal effect on its general economy, albeit it may discourage some foreign investment. He argues that China's economic model takes a different approach, focusing largely on knowledge generation and innovation rather than relying heavily on financial markets. A Nature report indicates China surpassing the US in general scientific achievement for the first time, showing the country's advancements in technology. The report singles out China's long-term investment focus as the source of their success, drawing a parallel with Western countries' emphasis on short-term outcomes. Looking at the education backgrounds of top tech company heads, they are often originally from Asia, with examples illustrating that they have the capability to transform industries. A shift in corporate focus is observable, as evident with Microsoft’s transition from PCs to the cloud. Yet, a clear concern is expressed regarding the growing disconnect between corporate heads and their employee base, possibly leading to classism issues. Dr. Leeb calls attention to the United States' current condition, making comparisons to China's technological advancement. He voices concerns about societal upheaval due to significant inequalities and a lack of unified mission, cautioning about events like the Civil War. Despite these issues, he remains optimistic, emphasizing the strength of American democratic values. Dr. Leeb explains his views on gold as a significant store of value over other assets. He challenges conventional financial wisdom with his argument that gold has proven to be a reliable safeguard during periods of instability, even though renowned financiers such as Charlie Munger and Warren Buffett disagree. A worldwide crisis is stressed as money unduly influences science. International cooperation is suggested as the key for global progress. He emphasizes China's defensive strategy in conflicts as a model, and strongly advocates for gold as a spiritual value and balance to materialism. Despite a critique of systems like Bitcoin, he expresses hope that future generations will appreciate the balance offered by gold. Time Stamp References:0:00 - Introduction0:40 - China's Slump10:00 - Global Manufacturing20:27 - Conviction & Buying28:46 - The Great Leveler50:20 - Echo Chambers & Gold1:02:55 - Money/Science & Religion1:07:50 - Golds Importance1:12:44 - Wrap Up Talking Points From This Episode China's growth and recent stagnancy and the global impact on manufacturing. Concerns about upheaval and instability in the United States. Western over-reliance on science and materialism. Guest Links:Twitter: https://twitter.com/LeebPhdWebsite: https://www.leeb.com/Website: https://www.stephenleeb.com/Book/Amazon: https://tinyurl.com/y4wphb87 Dr. Stephen Leeb is a recognized authority on the stock market, macroeconomic trends, and commodities, especially oil and precious metals. As Chairman and Chief Investment Officer of Leeb Capital Management, Dr. Leeb combines his knowledge of macroeconomic trends and current market conditions with detailed information about specific companies he follows to guide the Committee's investment decisions. Stephen Leeb is a financial author, wealth manager, and publisher of a family of investment newsletters. He has been a recurring guest on CNN, Fox News, NPR, Bloomberg, and many others through the years. Leeb was also said to be one of the country's foremost financial experts, with Charlie Gasparino in 2016 recommending Leeb as a good candidate for Federal Reserve Chairman. Leeb earned a B.S. in Economics from the Wharton School of Business. He also earned a Master's in Mathematics and a Ph.D. in Psychology from the University of Illinois.

1h 14m

Feb 02

Tom welcomes returning guest Peter Grandich to the show fora riveting conversation. Peter underscores his belief that the much-anticipated recession hasn't yet arrived due to rampant money creation and continuous borrowing. He challenges the Bureau of Labor Statistics' data, believing its reported market conditions to be milder than reality. He spotlights the increasing number of Americans relying on food banks, living paycheck to paycheck, and articulates his belief that an impending recession is not a matter of "if," but "when." Grandich also points to a shift in the past 40 years from a market largely dominated by retail investors to one controlled by computer algorithms. In fact, today more than half of all stock market investments are in passive funds. This new mode of operation could result in rapid market changes when investment perspectives shift, leaving more investors vulnerable to losses. Importantly, the spiraling US debt is a concern. The Congressional Budget Office recently predicted a debt level of $50 trillion within seven years. This escalating debt could lead to economic collapse, as a large part of the country's revenue would be obligated to cover interest repayments. Grandich further criticizes the Biden administration's decision to expunge student loan debts as it could set a dangerous precedent for other financial liabilities. Additionally, Grandich observes the growing global outcry for dominance at the expense of the US, spurred by countries like Brazil, Russia, India, China, and South Africa. This could lead to diminished demand for US stocks and a preference for non-US stocks. Amid these shifts, Peter emphasizes the importance of safeguarding capital. He acknowledges the potential for capital growth in areas such as the natural resources sector. Despite previous success with uranium, Peter is now directing his focus towards other natural resources such as gold, copper, and lithium. He recommends their potential for capital appreciation, citing ongoing demand and treating copper optimistically due to its emerging role in the green sector. While remaining cautious about investing, given the current economic, social, and political landscapes, Peter remains hopeful about the future growth in the natural resources sector. Lastly, Grandich provides intriguing insights on the position of uranium in the current market, explaining that widespread energy challenges and increasing nuclear power necessity maintain its stability; however, he maintains that other metals such as gold and copper now offer better investment opportunities. Rapid price surges have led to difficulty for producers like Cameco, who are grappling with meeting contract obligations due to limited supply. This could potentially slow uranium price elevation. While Grandich acknowledges the potential for uranium's market to rise, he sees greater gains and less risk in junior resource markets. Talking Points From This Episode Rampant money creation is temporarily delay a recession, which is inevitable. Peter is concerned about the number of algorithim trading system which would catalyze sudden market shifts. Uranium's performance is good but gold, copper, and lithium currently offer more potential for growth. Time Stamp References:0:00 - Introduction0:33 - Recession Outlook4:23 - Five Critical Issues8:08 - Fed & Inflation13:16 - Debt, Deficits, & Taxes17:33 - Consequences19:30 - Debt & Global Bond Mkts.21:44 - BRICS Progression26:48 - U.S. Equity Demand29:02 - Preserving Wealth31:20 - Focus On Resources34:34 - Uranium & Profits36:57 - Jurisdictional Risk38:20 - Gold Market Thoughts40:28 - Why Undervalued Miners44:03 - Uranium Market50:08 - Wrap Up Guest Links:Website: https://petergrandich.comTwitter: https://twitter.com/PeterGrandich Peter Grandich entered Wall Street in the mid-1980s with neither formal education nor training. Within three years, he was appointed Head of Investment Strategy for a leading...

51m

Jan 31

Tom welcomes R.C. Williams and Juliana Ormond to the show to discuss the implementation of the Sound Money Act. Deriving authority from Article 1, Section 10 of the US Constitution, the Act will enable states to mint their own gold and silver currency, thereby reducing dependence on federal fiat money. To guarantee successful implementation, the precious metals must be declared as legal tender and be functional in transactions, just like debit cards. Williams and Ormond foresee Florida, Texas, Utah, South Carolina, Oklahoma, Missouri, and New Hampshire as the states most likely to accept the Act. The states' chief financial officers will manage the system, with technological support from tech firms. The Sound Money Act, backed by precious metals, presents wealth protection and growth opportunities. They caution this new system should complement, not replace, conventional fiat currencies. This precious metal-backed system has prime potential to inhibit unlawful financial activities and money laundering due to improved transparency and accountability. Moreover, it provides a check on government towards greater restraint over their fiscal activities, deterring overspending and empowering citizens to have enhanced control over personal finances. Successful implementation of the Sound Money Act requires strong legislative backing. In Florida, this backing is accomplished by winning support from key political figures. Challenges are foreseen, but the procedure is expected to boost state sovereignty and monetary freedom. The states' rights, as defined by the 9th and 10th Amendments, empower them to independently manage themselves and secure citizens' interests, even when facing federal intervention. The group anticipates that if a significant number of states adopt gold and silver as legal tender, it could press the Federal Reserve into critical discussions leading to ideological and practical dilemmas. This could eventually address the debt issue. To help citizens voice their opinions on the matter, the group has initiated the Watchmen Action platform to provide resources required for engaging in research, narrative development, and legislative outreach. The aim is to rally leaders toward valuable public changes despite facing opposition from those entrenched in the current economic structures. Time Stamp References:0:00 - Introduction0:35 - The Sound Money Act2:23 - Metals Taxation3:50 - Leading Key States6:17 - Texas State Depository7:45 - Debit Card Solution10:50 - Metals Vs. Dollars13:32 - Fiscal Accountability15:25 - Role & Legislatures19:16 - Louisiana Keynote20:34 - Federal Confiscation?23:50 - Watchman Action25:37 - Grassroots Resources30:07 - Wrap Up Talking Points From This Episode The Sound Money Act aims to allow states to mint their own gold and silver currency, reducing dependence on federal fiat money. The precious metal-backed system can enhance transparency, accountability, and personal financial control while deterring unlawful activities. Adoption of gold and silver currency by multiple states could potentially drive discussions and address the debt issue. Guest Links:Website: https://watchmenaction.org/Website: https://sherloc.substack.com/Website: https://SherlocExposes.com Husband and wife team, RC Williams and Julianna Ormond, are lynchpins for the grassroots conservative movement throughout the southeastern United States, through strategic planning and leadership, research and advanced technology expertise, and public speaking and media appearances on radio and television. Professionally, RC and Julianna co-founded Sherloc Market Research in 2017, harnessing their competitive intelligence capabilities to help middle-market businesses gain and maintain a competitive advantage with their market research technology platform, ParAible. Sherloc has accurately predicted economic events, Supreme Court Rulings, and the acquisition of Pandora Music by Sirius XM a full year in a...

32m

Jan 26

Tom welcomes back Gareth Soloway, President, CEO & Chief Market Strategist for Verfied Investing to discuss the state of Chinese and US markets. Soloway finds the significant divergence between the S&P 500 and the Hang Seng market noteworthy. The S&P 500 is ascending, while the Hang Seng market is grappling with multi-year lows. He cites crackdowns on businesses, trade tariffs, and the global investment shift away from China as some of the challenges China is facing. Soloway also refers to the problematic economic stimulation in China via construction of vacant cities. Soloway warms of several trends that may affect the broader economy, such as layoffs from major corporations, the increase in artificial intelligence (AI), and possible recessions. AI, while it could lead to cost reductions, might result in significant job losses and impact the economy negatively. He also comments on the maturation of the Bitcoin market and the stagnant activity in the gold market, suggesting economic impacts surrounding these markets. Soloway predicts a drop in oil prices by the end of the year and points to increased US production as a factor in making the US energy independent. He identifies natural gas as a riskier investment, despite potential short-term upsides. He sees a gloomy outlook for copper, hinting at numerous recessions, including those in Europe, the UK, and China. Market psychology greatly affects the overall market conditions and investment decisions. The market's reaction to significant company announcements, such as Netflix's recent positive news, demonstrates this. Even if these companies are not top-tier, their impact on the market and investors is significant. Soloway notes that considering variables like job reports and inflation is crucial for anticipating market trends and warns that competition may erode big tech companies' margins in the future. Time Stamp References:0:00 - Introduction0:44 - U.S. & China Markets3:55 - U.S. Stimulus & Assets5:00 - Trillions & Rates6:24 - China & Hang Seng Index9:23 - Rate Cut Expectations11:03 - Earnings & Layoffs14:40 - Bitcoin Sector & ETFs17:00 - Gold Markets & Trends20:03 - Silver & Industry21:55 - Oil & Natural Gas24:34 - Copper Run & Recession27:14 - Global Recession Risk?28:18 - Earnings & Psychology31:00 - Ratings & Stock Chasing33:53 - A.I. Narratives36:15 - Wrap Up Talking Points From This Episode The divergence between the S&P 500 and the Hang Seng market may indicate future downturns in the US markets. Large-scale layoffs and the rise of AI might heavily impact the job market and economy leading to a possible recession. Despite the potential for short-term gains, natural gas represents a risky investment given the vast production volume. Guest Links:Twitter: https://twitter.com/GarethSolowayWebsite: https://inthemoneystocks.com/Website: https://verifiedinvestingcrypto.comWebsite: https://verifiedinvestingeducation.comLinkedIn: https://www.linkedin.com/in/gareth-soloway-60827953/ Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University, where he studied Economics. After college, Gareth quickly excelled as a financial adviser, but his heart was always in swing and day trading. He had this long-standing belief that he could help investors make more money by advising them on shorter-term investments (holding a stock for days to weeks) than the buy and hold crowd who lost 50% of their money during every market collapse. "Why not profit during the bear markets just like the bull markets," he said. So while helping others gain financial independence during the day, he spent his nights studying charts and price action, developing a unique market trading system that put his profits on a rocket ship. Some nights he would barely sleep when he found a new technique that was proven, once back-tested. After building his wealth through trading in 2004,

37m

Jan 25

Tom welcomes back Gary Savage to the show. Gary is a retired entrepreneur, investor, and the President of Smart Money Tracker Premium. Gary Savage, discusses the challenging nuances of the metals market. Savage warns of the potential for a false rally, as eager buyers rush to capitalize on a recent price action. While admitting the dollar's upward trajectory can suppress gold prices, Savage dismisses the notion that the dollar solely governs gold's cost and predicts gold prices may disregard the dollar after crossing the $2100 resistance mark. He projects the next intermediate cycle will overcome the dollar suppression. He sees potential investment benefits with mining stocks when they dip enough to be undervalued. Gary believes gold prices could retest the $1820 mark, though the trajectory, plummeting to around $1950 or crashing straight onto that level, remains uncertain. An impending four-year cycle low in stocks could trigger a broad market downturn, affecting all sectors, including gold. Gary also warned of a likely false breakout in the stock market and urged market players to keep an eye on the S&P and be prepared to exit if the breakout doesn't materialize. Savage posits an unexpected drop in the stock market, possibly triggered by an unexpected international political event, could spur the Federal Reserve to implement rate cuts and additional quantitative easing. Consequently, this could stimulate a bull market in stocks and gold, culminating in a stock 'bubble phase.’ Additionally, he warns of certain market patterns that signify a bubble in Bitcoin. Despite the recent approval of a Bitcoin ETF, Savage cautioned against the risks of markets surging disproportionately above their moving averages, referencing uranium miners as an example. While examining the uranium mining ETF chart, Savage notes an eleven-month unbroken rally with minimal corrections, but expressed reservations about a potential "false breakout." Savage proposes utilizing stops to help manage greed in this phase of the uranium markets. Predicting significant fluctuation in the oil market, Savage sees the chart potentially forming an extensive 'cup and handle' pattern. At some point he expects oil prices to rally. Eventually, oil prices will reach the projected $200 mark through a slow but steady buildup of value. Rounding up his analysis, Savage urged listeners to be vigilant of market trends. Time Stamp References:0:00 - Introduction0:42 - Metals & Patience3:10 - Gold & Dollar Cycles6:16 - Opportunities?8:10 - Thoughts on Silver9:24 - Signals For Gold/GDX11:28 - Sentiment & Fundamentals13:48 - Equity Market Outlook16:06 - Markets, Fed, & Swans17:54 - Bitcoin Bear Rally21:07 - ETFs & Wall Street23:45 - Uranium & Tops26:55 - Bubble Phase?29:02 - Miners & Bottoms30:46 - Oil, Metals, & Big Moves33:30 - Wrap Up Talking Points From This Episode Gary anticipates a false rally, positing that eager buyers amid recent price declines often misjudge real market gains. He cautions that an unexpected international political event could prompt a Federal Reserve rate cut. The potential for substantial fluctuation in the oil market and higher prices long-term. Guest LinksTwitter: https:/twitter.com/garysavage1Blog: https://blog.smartmoneytrackerpremium.com/YouTube: https://www.youtube.com/channel/UCgiNs7gCxEvgBE1HHvoOKTQ/videosWebsite: https://smartmoneytrackerpremium.com/ Gary Savage is a retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 15+ years. Gary is a self-made multi-millionaire and attributes his financial success to savvy investments made in owning/selling several businesses, real estate, and, more recently, the stock market. He is also a national Judo, powerlifting, and Olympic weightlifting champion and world record holder. Gary holds national titles in 3 different sports and continues to challenge himself as an avid rock climber,

34m

Jan 24

Tom welcomes back the ever eloquent Tim Price from Price Value Partners for a jaw-dropping interview. Tim critically examines global institutions such as the Davos Club and a certain UN Health Organization. He expresses unease about global policies that may potentially marginalize farming and fishing in order to mitigate ecological damage. Price urges comprehensive analysis on such policies' impacts on global food resources. He disapproves of unelected individuals influencing significant global health and economic strategies and encourages skepticism towards the mainstream media for perpetuating unchecked influence over these areas. Price also identifies a growing trend toward skepticism of global forums, notably through an editorial in the Financial Times questioning the relevance of Davos. He ends by cautioning against "philanthropaths" who amass wealth under the guise of charity and urges for increased understanding of their motivations. Tim highlights the value of debate and continuous dialogue in resolving polarized arguments. Individuals should aim to arouse introspection in their interlocutors rather than impose personal beliefs. Understanding can create gradual changes in viewpoints over time. The author advises government not to meddle in the education system and encourages flexible interpretations of reality. Price draws parallels between the current credit and debt system and historical failures of such systems. He views Davos as the emblem of big state command economy systems — a form of crony capitalism, not genuine free market capitalism. He suggests teaching classic economics as a buffer against economic downfalls. He casts doubts over the sustainability of the debt-based monetary system in light of the escalating global debt burden and highlights discussions about replacing the dollar with a hard commodity-backed currency in resource-rich economies such as Russia, India, China, and South Africa. Price points to economic uncertainties and volatility in various countries, taking Japan as an instance of a resilient economy that weathered two depressions on a par with America's Great Depression, maintained lower unemployment levels and a sustained GDP. He raises the question of whether Western economies could cope with similar situations. He also underlines ongoing unrest in currencies, the bond market, and the intensifying inflation. Tim criticizes the problematic Keynesian economic model and government interventions in economic systems, proving them incapable of controlling intricate economic operations. Tim discusses his book "The War on Cash" and notes that he could have underestimated technological advancements in crypto currencies. Nevertheless, He appreciates the enduring value of his book and emphasizes the preservation of mutual trust in society, arguing that such trust in corporations and states often poses challenges. He advises strengthening ties with local businesses and limiting dependency on credit cards and any form of central bank digital currencies, promoting the use of cash transactions. As an example of an uprising against the current system, he notices the increasing number of protesting farmers, reaffirming the relevancy of his book's fundamental message today. Time Stamp References:0:00 - Introduction0:37 - Argentina & Ecocide4:36 - Vandals & Philanthropaths7:12 - Western Suicidal Ideation11:49 - Conversations & Questions13:50 - Gov't Out of Education18:12 - Truth & Perspective22:29 - Davos & Javier Milei27:10 - Broken Window Fallacy30:09 - Debt Creation Math34:07 - Inflation is a Policy35:30 - Order of Collapse?39:48 - Inflation Comparisons42:27 - Keynesian Economics46:28 - Tim's Book - War On Cash50:22 - U.K. Postal Scandal53:08 - Clarkson's Small Farm55:21 - Worse Worsening57:05 - Wrap Up Talking Points From This Episode Tim Price criticizes global institutions and policies that affect farming and fishing, urging a deeper analysis of their impacts.

57m

Jan 19

Tom welcomes back, Jesse Felder, founder, editor, and publisher of The Felder Report. Jesse discusses various economic issues such as Federal Reserve decisions, inflation trends, and the changing dynamics of the commodities market. Felder insists that the optimism that inflation will return to a manageable 2% may be misplaced, as per substantial evidence pointing to an underlying, stronger inflation trend. Commodity markets feature prominently, with Felder noting a bullish trend spurred by a decade-long capital-starved situation. He identifies this lack of investment as a considerable constraint on supply, potentially leading to a price surge. Despite optimism regarding the Federal Reserve's potential for a soft landing, Felder acknowledges persistence of economic troubles, citing unprecedented tightening, record credit card delinquencies, and struggling corporate earnings. He argues that whether inflation remains high or a recession occurs, outcomes will likely be disappointing. He expresses concern over a rapidly swelling deficit and potential inadequate demand during a recession, necessitating Federal Reserve intervention, a situation he dubs a 'nightmare scenario'. The discussion also involves a reflection on monetary policy following the 2008 financial crisis. Jesse highlights a trend involving aging baby boomers remaining in the workforce longer and low-cost labor in China. This era of 0% interest rates and inexpensive financing necessitates a rethink of monetary cycles, including realizing that the neutral Fed rate could rise. The conversation points to the effect of relocating manufacturing to the U.S. and potential resulting inflation, issues on globalization, and focus shifts on defense and energy expenditures. As part of the focus on the green revolution, Felder identifies emerging economies as key drivers of oil and gas demand. Efforts to limit fossil fuel use and promote clean energy will lead to increased demand for commodities such as steel and copper. The shift to electric vehicles is mentioned, as well as the lack of charging infrastructure. On the topic of precious metals, Felder expresses a bullish stance on gold and silver. He views the possible termination of the Federal Reserve's interest rate hikes as a positive indication for gold. However, he warns of the potential impact of continuous quantitative tightening on the money markets, although he predicts eventual benefits for precious metals. Felder alerts to a prevalent recency bias in the market, speculating possible stagflation that could spike demand for precious metals. He suggests investors diversify across multiple areas, including physical gold and Sprott funds. Time Stamp References:0:00 - Introduction0:37 - Sticky Inflation & Wages3:16 - Fed Inflation Targets5:42 - Other Inflation Metrics7:30 - Commodity Demand & Oil11:35 - Soft Landing Chances?14:54 - Treasuries & Recession?21:36 - Rate Cuts & Expectations24:00 - Recency Bias & Low Rates29:10 - Manufacturing Lag-Time33:52 - Conflicts & Disruptions37:07 - Commodity Demand Drivers40:07 - Electrical Infrastructure43:33 - Precious Metals Thoughts47:17 - Sentiment & C.B. Faith50:10 - Fear Factors & Gold52:06 - Sprott ETFs & Miners55:16 - Wrap Up Talking Points From This Episode Jesse Felder warns of stronger underlying inflation trends, challenging optimism about a return to a manageable 2% inflation rate. Despite economic troubles and unprecedented tightening, shift towards stagflation could result in increased demand for precious metals like gold and silver. Felder identifies emerging economies as drivers for oil and gas, arguing that clean energy efforts could surge demand for commodities. Guest Links:Twitter: https://twitter.com/jessefelderWebsite: https://thefelderreport.com/Articles: https://thefelderreport.com/blog/ Jesse Felder is the Founder, Editor, and Publisher of The Felder Report. He began his professional career at Bear, Stearns & Co.

56m

Jan 18

Tom welcomes back Luke Gromen of Forest for the Trees to the show. Luke discusses the outlook for U.S. debt and the interest, which is projected to exceed a trillion this year. He explains that the U.S. government will need to borrow more money to cover the interest expense, indicating a debt crisis. According to Luke, we are essentially insolvent and running out of time. Luke does not anticipate a recession in 2024 because he believes the Fed will prevent the treasury markets from crashing. He predicts that the Fed will take action this year, even if it means deviating from their core mandate. Luke emphasizes that the functioning of the treasury market is the Fed's primary goal. He advises investors not to hold long-term debt, as sentiment towards treasuries will eventually reach a breaking point, causing a major problem in the bond market. Luke asserts that as the country moves closer to a wartime-style economy, traditional GDP metrics become less relevant in that type of fiscal environment. He shares his approach to long-term wealth preservation, which involves investing in gold and Bitcoin. Luke highlights that gold has limited downside volatility, while a small exposure to Bitcoin can protect a portfolio. Luke believes that the demand for oil will continue to surprise investors for the next few years. Lastly, he discusses the numerous issues facing the electrical grid, which are often overlooked by investors and politicians. He points out that there will be a significant need for metals to maintain and expand the existing infrastructure. Time Stamp References:0:00 - Introduction0:54 - Why Debt Size Matters5:06 - No Recession in 2024!7:45 - Feds Policy Options15:45 - Powell & Ol'Yellen17:56 - Bond Bubble & Investors22:46 - Powell's Dovish Turn?24:06 - Xi & Biden Meeting28:33 - Red Lines & Saudi/China31:15 - Yields & Liquidity Actions35:14 - Rapid Financial Loosening36:10 - GDP Metric Usefulness?39:55 - Shift To Preserving Wealth44:00 - Perception Vs. Hopium45:20 - Gold & BTC Usefulness50:20 - Oil, Recession & Demand56:46 - Peak Oil & Electrification1:14:05 - Wrap Up Talking Points From This Episode Luke warns of a looming debt crisis in the US, as the government struggles to cover its interest expenses. He explains why a recession is unlikely during 2024 and why the Fed will act to prevent it. He advises investors to consider gold and Bitcoin for long-term wealth preservation amidst bubbles in treasuries and the dollar. Luke highlights the surprising demand for oil and the overlooked problems facing the electrical grid and infrastructure. Guest Links:Twitter: https://twitter.com/lukegromenWebsite: https://fftt-llc.com/ Luke Gromen began his career in the mid-1990s in Research at Midwest Research before moving over to institutional equity sales and becoming a partner. While in sales, Luke was a founding editor of Midwest's widely-read weekly summary ("Heard in the Midwest") for the firm's clients. He aggregated and combined proprietary research from Midwest with inputs from other sources. In 2006, Luke left FTN Midwest to become a founding partner of Cleveland Research Company. At CRC, Luke continued to work in sales and edit CRC's flagship weekly research summary piece ("Straight from the Source") for the firm's customers. In 2014, Luke left Cleveland Research to found FFTT, LLC ("Forest for the Trees"), a macro/thematic research firm catering to institutions and individuals that aggregates a wide variety of macroeconomic, thematic, and sector trends in an unconventional manner to identify investable developing economic bottlenecks. Luke also provides strategic consulting services for corporate executives. He is a graduate of the University of Cincinnati and received his MBA from Case Western Reserve University and earned the CFA designation in 2003.

1h 16m

Jan 16