Palisades Gold Radio

Tom welcomes Craig Hemke of the TF Metals Report back to the show to discuss metals and bank involvement. Hemke talks about how certain entities are able to manipulate prices and make profits, and how the Commitment of Traders Report reveals these positions. He also discusses the possibility of another short squeeze and how this could impact prices. He then explains why the Commitment of Traders Report is not an ideal trading tool, and breaks down his strategy for making decisions regarding the metals market. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Craig then moves on to discuss the economy between the US and Japan, namely the Bank of Japan and the US Dollar. He talks about how the monetary policies of both countries are affecting global markets, and goes on to discuss how the dollar index is being affected. Craig explains why August is always a slow month for trading and speaks on the dangers of servicing the massive US's debt. He also talks about the current and future situation with the Federal Reserve, noting that the jobs report in August could be underwhelming and other factors that will affect Jerome Powell's rate decisions. Craig then suggests that gold prices should start trending upwards in September and rally in October/November. Finally, he encourages patience and believes that the doldrums should end soon. Time Stamp References: 0:00 - Introduction 0:30 - COT Reports & Trades 5:44 - Bi-Manipulation 13:45 - Summer Volume Signals 16:53 - DXY Levels & Psychology 20:49 - Dollar/Yen & BOJ 25:52 - Fed, Debt & Deficits 28:39 - Magnitude of Problems 32:30 - Mortgage Rates & Lags 36:50 - 70+ Year Mortgages 38:10 - Silver Supply Deficits 41:00 - Jobs Report & Numbers 47:36 - Wrap Up Talking Points From This Episode - Craig explains how large entities manipulate the commodities market. - His strategy of identifying large speculators positions can help predict price rallies. - He suggests that gold prices will rally in October and November due to current positioning and COT reports. Guest Links: Twitter: https://twitter.com/TFMetals Website: https://www.tfmetalsreport.com/subscribe #CraigHemke #SilverSqueeze #CTFCReport #PhysicalMetals #Positioning #Commodities #Fed #StructuralDeficit #Supply #Gold #Silver #COTReports Craig Hemke, aka "Turd Ferguson," was a licensed securities "professional" for nearly twenty years. Then, disgruntled by the fraud known as "financial services," he retired to a career as a serial entrepreneur in 2008. Though otherworldly in his ability to forecast price movements, Craig is not a soothsayer, a psychic, or a witch, but, after all these years, he has a decent understanding of the forces at play in the precious metal "markets."

Tom welcomes Petroleum Engineer and Analyst Michael Lynch to discuss the big movers in the silver market. He provides diagrams of how metals flow from the market to the retail level, and mentions how the United States Mint is legally required to meet the public's demand for gold and silver Eagles, though not other mint products. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Michael covers the costs for producing Silver Eagles, as well as how the premiums have changed lately. He believes the Mint's production issue is due, in part, to a lack of available blanks from supplier mints such as Sunshine Mint, which have experienced labor shortages and production challenges. He believes that Blackrock's Ishares SLV Trust is being used to heavily influence the market, keeping everyone happy but the retail buyers. Michael suggests the Mint could solve its problems by bringing blank production in-house; this would give them more flexibility with production. He also suggests silver stackers consider selling ASE's and buying larger bars in order to minimize premiums and get more ounces. Time Stamp References: 0:00 - Introduction 1:15 - U.S. Mint Operations 5:00 - Silver Eagle Sales 6:44 - ASE Costs & Premiums 10:38 - Current Situation 13:46 - Supply Dysfunction 19:30 - Premium Overview 24:33 - Blackrock & IShares SLV 28:54 - A-Mark Share Prices 33:39 - ASE Premium Dynamicso 38:15 - Conclusions 48:22 - Wrap Up Talking Points From This Week's Episode - The Mint has been unable to meet demand due to alleged production issues with blanks, but some suggest Blackrock is manipulating the market through Ishares SLV Trust. - Silver stackers can avoid premiums by buying larger bars instead of Silver Eagles. - A solution to the Mint's shortage would be to bring production in-house, giving them more production flexibility. Guest Links: Website: https://www.reddit.com/user/Ditch_the_DeepState/submitted/ Twitter: https://twitter.com/DtDS_WSS Substack: https://econanalytics.substack.com Michael Lynch has a background as a Petroleum Engineer and developed a keen interest in the history of money as a result of witnessing the collapse of the Indonesian currency. This interest has brought him to study the behavior of the Comex, JP Morgan, and SLV paper contracts. #MichaelLynch #USMint #SAE #Silver #Eagles #SilverSupply #Blackrock #IShares #SLV #Dealers #Retail #Manipulation

Tom welcomes firebrand Chris Irons back to the show to discuss the Fed and the overall status of the financial system. Chris notes that inflation and the Fed are topics that the media tends to ignore. The two percent inflation target is an arbitrary figure, and it serves as a way for the Fed to steal from consumers without them realizing. Inflation is profoundly detrimental as it continuously lowers one's purchasing power without them noticing. We should not be raising the debt ceiling as it does nothing to address our bad habits, and address our reckless behavior. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Chris also discusses the recent rating downgrade by Fitch, which signals a troublesome time ahead for U.S. sovereign debt. Government officials are voicing their complaints about the downgrade, but none of them seem to be thinking about fiscal responsibility. Chris often notices when the signal for a market top or bottom appears, as the mainstream media offers contradicting headlines. Everyone believes the Fed will be successful in controlling inflation while they are oblivious to the potential deleveraging event. Hence, when the investment community aggressively sells off, he sees it as an opportunity to go all in on precious metals. Turning his attention to China, he remains concerned about increasing tensions around Taiwan. He wonders how the US would respond, given their current financial state. Lastly, he goes over the various misleading narratives surrounding Covid treatment that have now been debunked. Time Stamp References: 0:00 - Introduction 0:33 - Inflation & the Fed 7:43 - Fitch Credit Rating 16:37 - The Confidence Map 20:00 - Michael Burry Puts 23:30 - Bad News is Good 26:40 - The Equity Bull Case 28:00 - Chinese Credit Crunch 34:07 - Collapsing Narratives 49:37 - Analysis & Perspectives 55:30 - Perspectives & Censorship 56:17 - Predictive Wrap Up Guest Links: YouTube: https://www.youtube.com/channel/UCxUo55-0ScpOQNdug8FCzzA/videos Podcast: https://quoththeraven.podbean.com Substack: https://quoththeraven.substack.com Twitter: 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. Irons is not afraid to challenge the mainstream narrative or succumb to it when it serves the collective best interests. Chris is not providing investment advice and the content on The Quoth The Raven podcast/substack is not meant to be taken as such. Anything mentioned should not be taken as a recommendation to buy or sell anything. #QuothTheRaven #ChrisIrons #Fed #Inflation #Debt #FitchRatings #Media #Narratives #China #Taiwan #Ukraine #Biden #Gold #Geopolitics

Tom welcomes back Gary Savage to the show. Gary is a retired entrepreneur, investor, and founder of Smart Money Tracker Premium. Gary discusses how liquidity moves through the system. He believes the summer rally in the stock market was driven by liquidity given to the banks, which pushed into the tech sector. Equities are still at risk of a significant decline. He also believes the Federal Reserve will be forced to print more liquidity if the banks make lower lows, which will then cause a second phase of inflation and possibly a recession. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Inflation is inevitable in the coming months, according to Gary, and the Federal Reserve will pause rate hikes for the rest of the year. He explains that liquidity will continue to move from overvalued assets like stocks to undervalued assets like commodities, and that the Fed will try to suppress gold and other metals, but will have less and less success. He believes gold is currently in the advancing phase of a new eight-year cycle and will likely break out above its all-time highs before long. Gary is confident that the end of 2022 marks the eight-year cycle low in gold, and he believes that silver is currently undervalued and a great buy. He believes the dollar has topped in its secular bull market and has started a secular bear market, which will be a tailwind for gold and other commodities. He also believes a stock market correction will not be as severe as the crash in 1987, but may cause a mini-crash. Time Stamp References: 0:00 - Introduction 0:38 - Liquidity & Rates 2:20 - Bank Crisis Over? 4:50 - Free Lunch & Inflation 7:20 - Commodities & Energy 12:13 - Gold Price & Breakout 15:09 - Gold Charts & Cycles 18:50 - Silver Thoughts 21:10 - Gold 8-Year Cycle 23:55 - Dollar Cycles & Chart 29:53 - Everything Sell-Off? 31:13 - Watch the Banks 32:58 - Wrap Up Talking Points From This Episode - Gary believes the Fed will be forced to print more liquidity to prevent a deflationary collapse, leading to a second phase of inflation. -He is confident that gold will break out above its all-time high of $2090 in the near future. - He advises people to diversify their investments with gold and silver, as he believes the dollar has topped and started a secular bear market. Guest Links Blog: https://blog.smartmoneytrackerpremium.com/ YouTube: https://www.youtube.com/channel/UCgiNs7gCxEvgBE1HHvoOKTQ/videos Website: 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, and recently his newest endeavor bowling (two perfect 300 games so far). Gary's renown as a recognized trading/investment expert in the areas of precious metals, stock market, oil, and currency markets is demonstrated by his numerous internationally published articles in these market areas: Kitco, 24hGold, Gold-Eagle, Investing, 321Gold, Keyport, SilverSeek, TFMetalsReport, FuturesMag, ResourceInvestor, Silver-Phoenix, BayStreetBlog, BeforeItsNews, ETFDailyNews, TalkMarkets, JuniorMiningAnalyst, MarketOracle.UK, SafeHaven, GoldSeek, Mining, CommodityOnline, SilverMarketNewsOnline, StreetWiseReports, and InvestingNews. Gary publishes the Smart Money Tracker, a daily and weekend market newsletter available online by subscription only, at a very modest price. This subscription-only site provides Gary's in-depth daily commentary and chart analysis of numerous markets, including the stock, precious metals, oil, and currency markets.

Tom welcomes back Michael Piepenburg Commercial Director of Matterhorn Asset Management to the show. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Matt discusses the current state of the US economy and the potential risks developing. He argues that the Federal Reserve's policy of increasing interest rates and reducing the balance sheet has weakened the dollar and created distrust among emerging markets and developing economies. He suggested that investors wait until the market tanks before buying as the Fed will only pivot then. He also pointed out the $1.85 trillion that the Treasury announced it will borrow by the end of the year and how this could lead to a credit contraction and a credit crisis. He believes that the only solution to the US government's debt situation is to increase money supply through printing more money, which will lead inevitably to further inflation. Matt also discussed the labor market and CPI stats and how they may be misleading. He believes that the labor data is specious and disingenuous, as it ignores people who have stopped looking for jobs and includes people with multiple jobs. He believes that de-dollarization is already happening, but it won't happen overnight. He emphasizes the importance of keeping a level head while others are losing theirs and believes that the debt levels of the US are already creating serious problems, and that these can only be solved by having more informed people in positions of power. Matt believes the Federal Reserve's attempts to prevent inflation will ultimately end in inflation and suggests that investors protect their purchasing power. He also warns that politicians are unlikely to win an election by advocating for austerity, higher taxes, and a period of recession. Time Stamp References: 0:00 - Introduction 0:39 - Centralization & Debt 8:21 - Bank Failures & CBDC 13:39 - Banks & Davos Leaders 18:45 - Hyperfinancialization 23:25 - Elections & Fed Policy 30:47 - Japanese Carry Trade 35:39 - Rates & Reserve Currency 41:31 - Fed Pivot & Equities 45:24 - Signs of Recession 48:47 - The Invisible Tax 54:12 - Money Printing & CPI 57:33 - Growth & Labor Markets 1:00:37 - BRICS Summit Thoughts 1:09:19 - Wrap Up Talking Points From This Episode - The US economy is facing serious risk due to the Federal Reserve's policy of increasing interest rates while reducing the balance sheet. - Labor market and CPI stats may be misleading and de-dollarization is already happening. - The only way out of the current mess is to have more informed people in positions of power. Guest Links Twitter: https://twitter.com/GoldSwitzerland Website: https://goldswitzerland.com/ Articles: https://signalsmatter.com/ Book (Amazon): https://tinyurl.com/pvpfmy8c Matthew Piepenburg is the Commercial Director of Matterhorn Asset Management AG and the author of the popular book, "Rigged to Fail". Matt is fluent in French, German, and English. He is a graduate of Brown (BA), Harvard (MA), and the University of Michigan (JD). His widely-respected reports on macro conditions and the changing behavior of risk assets are published regularly at SignalsMatter.com. #MatthewPiepenburg #Government #Decline #Capitalism #CBDC #Fed #ECB #Media #Austerity #Labor #Recession #MoneySupply #USEconomy #FedRates #Austerity #Gold

Bob Coleman begins the conversation by discussing the collapse of premiums and lack of sentiment in the market causing buyers to become disillusioned. Prices are decreasing across the board, making production upgrades increasingly difficult. The US Mint is not supposed to produce profit, however, large merchants such as APMEX are still charging premiums to small buyers. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Steve St. Angelo explains how the gold and silver markets have transformed over the past twenty years. ETFs now hold a lot of silver and industrial demand is very low. It's mainly institutional demand driving the price and when that shifts it will move. Blackrock is the largest holder of PSLV. Steve believes we are heading towards an energy cliff that will cause inflation. Stocks, bonds, and real estate may fall affecting institutions who will invest in alternatives. Silver is on sale around the twenty mark according to Bob. Steve notes that the dynamics in the metal production industry are rapidly changing. Jaime Carrasco explains why he likes silver, noting price is correcting the imbalance between silver and copper. The US dollar will be weak due to a reduction in trade associated with the BRICS objectives. This will remove the manipulation of gold and silver. Steve later discusses the energy problems looming. Bob Coleman - Idaho Armored Vault Twitter: https://twitter.com/profitsplusid Website: https://www.goldsilvervault.com Steve St. Angelo - Independent Researcher and Publisher of the SRSrocco Report Website: https://srsroccoreport.com/ Twitter: https://twitter.com/SRSroccoReport YouTube: https://www.youtube.com/channel/UCED7G7CZfqdSV9zttlr1M_g Jim Hunter - Registered Commodity Broker with Allendale Twitter: https://twitter.com/JimSuncomm1 Website: https://allendale-inc.com Jaime Carrasco - Portfolio Manager at Canaccord Genuity Inc Twitter: https://twitter.com/IJCarrasco LinkedIn: https://www.linkedin.com/in/carrasco1/ Website: Canaccord Genuity https://www.canaccordgenuity.com/

Alasdair Macleod believes that the US dollar is heading towards a major financial crisis due to its unsustainable debt trap, contraction of bank credit and rising interest rates. He believes that Russia and China are behind the destabilization of the US dollar as a global currency and are attempting to introduce a new single, gold-backed trade settlement currency, which the enlarged BRICS membership could potentially use. This currency does not include any retailers yet, but those involved in international trade transactions would need to use it. McLeod believes that the US government has been sending Henry Kissinger and Janet Yellen to convince China to not abandon the US dollar, as the consequences would be immense. However, he still believes that the majority of BRICS members will ultimately support this new currency in order to improve monetary stability and create a stabilising effect on global markets. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Alasdair believes that the Russia-Ukraine crisis and the US sanctions against Russia have been the catalysts for the introduction of a gold-backed currency. He believes that a financial war similar to a nuclear war is brewing due to the shift from fiat currency to gold, and the contraction in bank credit will result in a decrease in the nominal GDP of countries. To counteract this, and protect itself, Russia and China have been attempting to support poor countries in order to keep them away from Western control. Lastly, he discussed the historic situation of the Weimar Republic's financial collapse, which saw those with gold profit handsomely, and concluded that the only solution for the Russian economy was to move forward with the “financial war” which he predicts will happen at the Johannesburg BRICS summit. Time Stamp References: 0:00 - Introduction 0:34 - BRICS Meeting & The Dollar 13:47 - China-Yellen Meeting 15:00 - Gold & Global Trade 19:03 - BRICS & SCO (Asia) 26:55 - Russia & Commodities 33:10 - Western Fiat & History 36:47 - Western Ignorance 40:54 - Foreign Held Debt 43:37 - Bank Credit & Money Supply 50:34 - Gold & Financial Wars 55:15 - Golden Consequences 1:02:32 - Gold in a Crisis 1:05:22 - Wrap Up Talking Points From This Episode - BRICS is proposing a gold-backed currency as a trade settlement system to reduce interest rates and increase monetary stability. - The US has sent Henry Kissinger to try to convince the Chinese to abandon the proposed currency. - Moving away from the dollar and backing it up with gold could create a financial war. Guest Links: Twitter: https://twitter.com/MacleodFinance Website: https://goldmoney.com Research: https://www.goldmoney.com/research/ Alasdair Macleod is Head of Research for GoldMoney. He is an educator and advocates for sound money thru demystifying finance and economics. His background includes being a stockbroker, banker, and economist. Alasdair Macleod started his career as a stockbroker in 1970 on the London Stock Exchange. Within nine years, he had risen to become senior partner of his firm. Subsequently, he held positions at the director level in investment management and worked as a mutual fund manager. Mr. Macleod also worked at a bank in Guernsey as an executive director. For most of his 40 years in the finance industry, he has been demystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man. Accordingly, his mission is to educate and inform the public in layman's terms what governments do with money and how to protect themselves from the consequences. #AlasdairMacleod #GoldStandard #BRICS #TradeSettlement #USFinances #GoldBackedCurrency #Kissinger #Yellen #Fed #Debt #Russia #China

Doug Casey, who needs no introduction, is welcomed back to the show once more. Doug is a prominent anarcho-capitalist philosopher, speculator, and best-selling author, and today he talks about the concept of anarcho-capitalism and what led him to this belief system. As Ayn Rand was an influential factor in taking him to this moral and economic standpoint, he soon recognized that she hadn't gone far enough and stumbled across the 'Market for Liberty'. According to Doug, this is an explanation of society without government, and his main point is that 'politics is the practical application of ethics in a society.' In addition, he argues that the state itself is evil, destructive and redundant; instead, it is the real enemy that needs to be battled, not just replacing 'bad guys' in office. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Continuing, Doug suggests that the majority of laws are silly and harmful, as they are designed solely for the benefit of those who create them. To his mind, the key principle should be to 'do as thou wilt, but be prepared for the ensuing consequences' – with a collective focus on taking responsibility. Transitioning on, Doug remarks on how the general public view the state as some sort of 'saviour of the masses'; a faith-based construct. Furthermore, he states that there has been a noticeably declining morality throughout the Western world, which is indicative of a coming catastrophic event. Doug also covers his book series, and how the protagonist, Charles Knight, develops and shifts as time passes. Not to be forgotten, Doug brings to light how these days, it's hard to find anyone that is genuinely interested in anything remotely existential – noting how the public are mainly focused on trivial affairs and think that the 'Federal Reserve' is some sort of omnipotent power. Therefore, he emphasizes how novels offer an opportunity to delve deep into topics that are usually a little too tricky and challenging for everyday conversation. Talking Points From This Episode - Why politics is inherently immoral and why laws and terms like legal or illegal have little to do with ethics. - The 'Market for Liberty' is an explanation of a society without a government, and politics is the practical application of ethics in a society. - How novels provide a useful platform to explore topics that are usually too difficult to discuss in an everyday context. @intlmandotcom #DougCasey #AnarchoCapitalism #AynRand #Laws #Morality #Ethics #Religion #Politics #Writing #SocietalDecline #Government

Bob Moriarty, a former Marine Corps fighter pilot in Vietnam and founder of 321 Gold and 321 Energy, once again shares his insight on the recent protests in France, which he believes is a result of the EU's unlimited immigration policy, rising inflation, and a worldwide revolution due to governments destroying the middle class. He is highly critical of the US' involvement in Ukraine, claiming they are responsible for the energy crisis, and that the US' strategy of involving other countries such as Norway and Poland is a smokescreen. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Bob then briefly recalls his experience in the Vietnam War and discusses the lack of a cohesive strategy when it comes to military operations run by the CIA. He criticizes Joe Biden and Hunter Biden for their involvement in the bribery of Burisma and Ukraine. He believes that the US' losing streak in wars in the Middle East has led to BRICS Nations creating plans of their own, and warns that the $300 trillion in debt will not be paid. He goes on to explain the use of sentiment indicators, cautioning investors to be careful when investing in commodities. Finally, Bob touches on his adventures in Australia and discusses the global warming narrative, which he believes to be incorrect. Bob believes that the only way to protect the stability of the country and ensure people’s trust in the system is for governments to return to an honest money system. Time Stamp References: 0:00 - Introduction 1:26 - French Protests 7:48 - Sanctions & Suicide 9:20 - Nordstream & Wars 12:08 - Winter in Europe 18:15 - Escalation Risks 23:54 - BRICS & New Currency 30:37 - Sentiment & Capital 38:29 - Rates & The Next Crisis 40:28 - Miners & Explorers 43:09 - Mining Stories 53:00 - Gold & Dollars 54:33 - Warming Narratives 57:37 - Wrap Up Talking Points From This Episode - Bob believes the recent protests in France stem from Europe’s unlimited immigration policy, resulting in rising inflation and a lack of trust in the financial system. - Bob is critical of the US’ involvement in the war in Ukraine and its implications for energy costs and availability in Europe. - Bob suggests that the only way out of the current energy and financial crisis is to return to an honest money system. Guest Links: Website: http://www.321gold.com Website: http://www.321energy.com Books on Amazon: https://www.amazon.com/Robert-Moriarty/e/B01A9I4TJU?ref=sr_ntt_srch_lnk_3&qid=1599932580&sr=8-3 Dr. John Clauser (Physicist): https://www.youtube.com/watch?v=8-WoobS7jtw Bob Moriarty founded 321gold.com with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind, and nuclear energy. Both sites feature articles, editorial opinions, pricing figures, and updates on both sectors' current events. Previously, Moriarty was a Marine F-4B and O-1 pilot, with more than 832 missions in Vietnam. He holds fourteen international aviation records. #BobMoriarty #321gold #Immigration #France #Europe #Protests #Ukraine #Nordstream #NatGas #BRICS #Sentiment #Gold #Silver #Dollar #Rates #Miners #Juniors #Exploration

Welcome back our little green chicken friend, otherwise known as Doomberg. Doomberg talks about their habit of doom-scrolling - searching for the next area of impending disaster. Defensive pessimism is discussed in relation to being prepared. With so much 'noise' out there, they have to find a way to stand out, and have opted for writing detailed pieces, which are distributed through a subscription model. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c The rise of the Degrowth Movement, which is incongruent with capitalism and efficiency, is an example of how 'green is the new red'. This 'programmed socialism' wants to shrink the economy, as can be seen at the Degrowth conference, where 18 hours of intense debates present ideas like blackouts being intentionally accepted as normal and beneficial. The levels of propoganda are staggering. We are slowly heading towards a centralized, Maoist/Stalinesque level of control. The resistance against nuclear energy continues, despite the two being worlds apart. Millions of people live near hydroelectric dams without too much concern for safety; however, nuclear is viewed on a completely different level. Thankfully, this trend is changing, and nuclear technology is a necessary component for providing cheap, reliable power. A great example of this is Ontario, which has repealed its inefficient green energy policy to embrace nuclear energy. Canada is well-equipped with the knowledge and skills to become a world leader in this field. Europe was lucky last winter, but this winter may be different, as they take a lot of risks. Wind generation is generally experimental and difficult to implement on a large-scale, due to failure rates which have been higher than expected. Finally, Doomy considers the importance of having a second passport and financial diversification. Time Stamp References: 0:00 - Introduction 0:43 - Pivotal Moments? 6:22 - The Degrowth Movement 11:57 - Alien Concepts 14:11 - Resistance to Nuclear 18:06 - Pitching Nuclear RFK 20:55 - Ontario & Nuclear 24:55 - Renewables & Politics 28:54 - European Gas Reserves 30:04 - Wind Energy & Failures 33:30 - Practical Renewables 35:03 - EROI & Nuclear? 36:53 - The Hydrogen Cycle 40:52 - Heat Pump Mandates 42:18 - BRICS & New Currency 45:19 - Doomberg's Role 47:56 - A Second Passport? 50:05 - Bank Risk & Politics 55:33 - Crypto & Energy 58:55 - The Bonus Question 1:00:36 - Wrap Up Talking Points From This Episode - Doom scrolling is searching for the next area of impending disaster, and Doomberg is fighting through the noise with detailed pieces distributed in a subscription model. - How the Degrowth movement is pushing Western nations towards programmed socialism. - Nuclear energy has advantages but has been met with a lot of resistance, but luckily, some areas like Ontario are continuing to embrace it. - Financial diversification and having a second passport are key elements in being financially prepared for disasters. Guest Links: Twitter: https://twitter.com/DoombergT Website: https://doomberg.substack.com #BeyondGrowth - AKA DeGrowth: https://www.youtube.com/watch?v=8Jpe4HVGJsI #Doomberg #Negativity #DefensivePessimism #NuclearEnergy #Europe #Ontario #WindEnergy #Degrowth #Gold #GreenEnergy #BRICS #Banking #Farage #Politics #NatGas

Tom welcomes Steve St. Angelo of the SRSrocco Report back on the show. Steve began buying silver in 2002, due to worries of fiat currency debasement and debt. As he delved deeper into the metal's market, he started questioning certain aspects such as the cost of production, including energy, materials and labor. However, the economics profession largely disregards the energy cost factor and sees the growth as continuous. When energy scarcity occurs thought, the markets could drastically change. Most investors today are not prepared for it. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Thermodynamics is another key factor in energy consumption, as the laws of physics will come into play and create peaks. This typically results in a lack of real growth or maybe even civilizational decline due to exceeding the carrying capacity of resources. At present, unearthed silver mining's all-in cost lies between $21 and $22, and around $1550 for gold mines. Institutions have moved to the ETF sector of the precious metals, and if we go through economic fragility and stagflation, more entities (such as Blackrock, the biggest holder in the PSLV), will likely become involved. Within the last month, debt and money supply have commented the market jump in S&P 500 and the equity sector. Steve believes that it is likely to face a correction in the near future. In terms of energy, oil prices could increase later this year due to demand, and this will translate into inflation in food and consumer prices. Apart from that, geopolitical risks could only make matters worse. Recently, Europe managed to survive the winter with the fortunate help of green energy; nevertheless, their energy problems are still present and expensive. This winter could be different. Time Stamp References: 0:00 - Introduction 0:42 - Precious Metals & Energy 2:57 - Assume a Can-Opener 4:46 - Metals Production Costs 6:09 - Future PM Scenarios 8:25 - Growth & Wealth Protection 11:13 - Silver Demand & Deficits 14:40 - Institutional Demand? 17:30 - Sentiment & Smart Money 20:24 - Defining Stagflation 22:10 - Recessions & Oil Price 24:34 - Energy Push Inflation 26:00 - Two Stages - Energy Cliff 29:05 - Europe & Gas Inventories 32:58 - Recessionary Impacts 38:53 - Rig Counts & Financing 41:28 - Estimated Oil Reserves? 44:48 - SPR Release Thoughts 47:40 - Commercial COT Positions 49:30 - Rates, EROI & Debt Servicing 51:33 - Blackrock & Potential Dynamics 53:20 - Concluding Thoughts Talking Points From This Episode - Institutional investors have surged into precious metals ETFs to shield wealth from financial fragility. - Oil prices could increase, driving inflation in food and consumer prices. - Rig counts and EROI could determine the success of energy reserves - with a potential energy cliff looming ahead. Guest Links: Website: https://srsroccoreport.com/ Twitter: https://twitter.com/SRSroccoReport YouTube: https://www.youtube.com/channel/UCED7G7CZfqdSV9zttlr1M_g Independent researcher Steve St. Angelo (SRSrocco) started to invest in precious metals in 2002. Later on, in 2008, he began researching areas of the gold and silver market that, curiously, most of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested – stand to impact the mining industry, precious metals, paper assets, and the overall economy. Steve considers studying the impacts of EROI one of the most important aspects of his energy research. For the past several years, he has written scholarly articles on some of the top precious metals and financial websites. You can find many of Steve's articles on noteworthy sites, such as GoldSeek-SilverSeek, Market Oracle, Financial Sense, GoldSilver.com, SilverDoctors, TFMetals Report, Outsiderclub, SGTreport, BrotherJohnF, Hartgeld, Der-Klare-Blick, PeakProsperity, SilverStrategies, DollarCollapse, FurtureMoneyTrends, Sharpspixley, FinancialSurvivalNetwork, PMBull, Deviantinvestor, PMBug, Wealthwire, and ZeroHedge. #SteveStAngelo #SRSRocco #ShaleOil #EROI #Energy #Oil #Blackrock #Sprott #PSLV #Gold #Silver #Housing #EnergyCliff #Stagflation #SPR #NatGas #Europe

Christopher Grove, President and Director of Commerce Resources, returns to the show as an expert on the rare earth element market. Electric motors are just one of the many users of rare earth magnets. China accounts for 70% of mining production and 85% of global processing capacity may be attempting to accumulate various rare earth projects around the world, leading to suggestions of manipulation. After a September 2010 incident between a Chinese fishing vessel and Japanese coast guard ships, China retaliated by cutting off supply of metals to Japan, prompting foreign companies to set up manufacturing within China to take advantage of the metals; this consequently made China the world's dominant magnet manufacturer. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c The largest chip manufacturers are in Taiwan and, due to U.S. involvement, China is considering restricting exports of gallium and germanium; these two metals are key for semiconductor production. Despite no longer being able to internally source enough rare earth elements, China is still the largest processor, allowing them to become a net importer while maintaining their market position. Monazite, a mineral feedstock containing other key rare earth elements, is another area of interest for Christopher. With China being an enormous importer of mineral sands, slightly radioactive in nature, they take advantage of the fact that these sands aren't being restricted like in other countries. Christopher is excited to watch the increasing demand for niobium-oxide, a material useful in battery manufacturing. He also explains some extraction methods--such as the use of solvents--and how technology is improving in an effort to make the process cheaper, less dangerous, and more eco-friendly. Time Stamp References: 0:00 - Introduction 0:32 - Rare Earth Markets 4:59 - Chinese Dominance 9:44 - Japanese Dispute 14:12 - Gallium & Germanium 16:39 - Other Market Factors 19:50 - Processing & Importing 22:10 - Monazite Mineral Sand 26:19 - Juniors & Economics 27:40 - Battery Manufacturing 30:42 - New Technology & Methods 36:10 - Concluding Thoughts 37:40 - Wrap Up Talking Points From This Episode - China dominates the rare earth market and has shown a willingness to retaliate against other countries to maintain their position. - China imports large quantities of monazite from mineral sands, which are not as strictly regulated as in other countries. - New extraction methods make rare earth extraction cheaper, safer, and more environmentally friendly, and there is an increasing demand for niobium-oxide for battery production. Guest Links: Twitter: https://twitter.com/commercerescce Website: https://commerceresources.com/ Mr. Christopher Grove is President and Director of Commerce Resources since September 2014. Previously, he worked as Corporate Communications for Commerce since 2004 and has significant contacts within the financial communities in North America and Europe. Mr. Grove joined the Commerce Resource board in 2012 and has been active in representing the company abroad. #ChrisGrove #RareEarthMetals #Electrification #ElectricMotors #China #Japan #Taiwan #Semiconductor #Manufacturing #Environment #Europe #ElectricVehicles #PermanentMagnets

Tom welcomes Francis Hunt, the founder of The Market Sniper, back to the show. Francis talks about why inflation has not been "cured" yet; it looks better only because it is being compared to previous numbers and basing effects. Year-on-year effects have decreased, but the consumer is still taking a hit. The declining dollar and prices is an indication that inflation will likely surge soon. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Francis then goes on to discuss the five trillion dollar fulcrum between the dollar and the Euro and how fiat will slosh into the Euro for a while, with a small amount flowing into gold. He also compares gold to a number of different currencies, with the US dollar particularly losing a lot of ground against commodity nations like Mexico. Francis believes the Federal Reserve will raise interest rates further, resulting in a dollar spike. However, this would be a very volatile period and he advises traders to focus on gold, silver, and perhaps eventually the dollar. According to him, the Fed is creating greater crises by creating more volatility rather than stability. Lastly, Francis explains the benefits of the HVF method and why he focuses primarily on leading indicators. Time Stamp References: 0:00 - Introduction 0:36 - Inflation Outlook 9:44 - The Next Crisis? 11:14 - Dollar Charts 14:29 - Euro/USD Chart 16:00 - Gold Vs. Currencies 21:22 - Commodity Nations 26:43 - Bonds US/China/Yen 28:33 - Dollar Scenarios 32:40 - Gold/Silver Ratio 34:50 - Silver Chart 37:03 - Ripple Call & BTC 44:23 - HVF Technical Methods 48:57 - A.I. Trading 53:18 - Wrap Up Talking Points From This Episode - The US dollar has been dropping against commodity nations like Mexico, indicating higher inflation in the near future. - Francis advises traders to focus on gold, silver, and the dollar during a period of high volatility created by increased interest rates. - The HVF method and the advantages of focusing on leading indicators. Guest Links Twitter: https://twitter.com/themarketsniper Website: 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, to answer the critical question: What is the next most profitable trade? He believes the actual price of an asset is the most accurate reflection of all the factors that influence it. Practical technical analysis, the study of price action over time, is needed to formulate profitable trade ideas. Indeed, with all the market manipulation and high-frequency trading operations currently in play, technical analysis is all that can be relied upon when it comes to formulating future price trends. A trained eye can often spot such manipulative practices, as is the case with HVF traders. Therefore, the HVF methodology is based purely on technical analysis. Francis is passionate about sharing his knowledge and understanding of markets by utilizing his HVF trading methodology. With entertaining anecdotes and the careful guidance of his students, he has already trained a large community of hundreds of traders and helped them transform from complete newbies to seasoned trading professionals. He genuinely loves sharing his knowledge and strategies with others who are committed to finding freedom through trading. Plus, teaching strengthens his trading abilities while helping to build a vibrant community of successful traders. #FrancisHunt #Inflation #Unemployment #DXY #Euro #Gold #Silver #Bitcoin #Oil #Ripple #XRP #Dollar #Bonds #Rates #Commodities

David Brady, CEO and Co-Founder of Global Pro Traders, is welcomed back to discuss what capitulation will look like in this environment. He states that typically, a large increase in volume can be seen as the price is falling to a low, which can indicate that a low is in. Additionally, a gap down followed by a move upwards is another indication of capitulation. We haven't seen a meltdown in employment and payroll numbers in the past year, however, the latest numbers came in just below expectations and then gold and silver saw a surge. Brady believes that we are near the bottom, as long as support holds and the risk-reward remains dramatically skewed to the upside. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Bank of America has a big short position on gold, while JP Morgan has a smaller position but is long. Everything else with the metals is looking promising. Brady suggests acting contrary to the markets, as emotions can be the death of wealth. It is important to maintain an analytical approach to markets. Brady argues that the Fed should be more concerned with deflation, instead they are considering further rate hikes. The peak in PPI was 9.2% a year ago, which has now fallen well below 3%. He believes the PPI is a much cleaner statistic than the CPI. Brady believes that gold is sniffing out that rate hikes are already priced in and perhaps we will get one more price hike. He expects bank failures are almost certain in this environment. Brady also suggests that Central Bank Digital Currencies (CBDCs) will be rolled out along with digital identification and universal basic income. He believes that this new money will be spent on existing goods and services, which will only create more problems and more inflation. In that environment, gold and silver prices will explode, while other asset bubbles burst. He believes Canadian Banks may be vulnerable, with the exception of the large too big to fail, CIBC and RBC. The housing market has been spectacular, with the lowest affordability and highest debt to personal income, creating a potential disaster. Brady suggests miners may be cheap soon relative to the metals, and if they are underperforming, it is a great buying opportunity. He also cautions that when everything is going to hell for government finances, they will do anything to keep the ship afloat, including potentially nationalizing mines and other industries. He believes that the West's implementation of CBDC systems will fail because they will still be fiat based. The BRICS version however is likely to be tied in some fashion to commodities. Brady's advice is to focus on miners in North America and wait for confirmation of the lows. He stresses not to get caught in the weeds, as the reward potential is high, and the train is leaving the station soon. *Time Stamp References:* 0:00 - Introduction 0:35 - Sentiment & Capitulation 7:16 - Banks & COT Positioning 8:09 - Emotion and Wealth 14:53 - Exiting at the Top 17:15 - Fed & Deflation 20:38 - Feds Path Forward? 30:03 - Banks in Canada 32:52 - Mortgage Terms & Collapse 35:56 - Miners Underperformance 42:15 - Nationalization Risks 44:05 - BRICS Meeting Thoughts 51:58 - Concluding Thoughts 54:40 - Wrap Up *Talking Points From This Episode* - Actcontrary to the markets in order to maintain an analytical approach and maximize reward potential. - He believes Central Bank Digital Currencies will be rolled out soon, leading to the potential for higher gold and silver prices. - Brady suggests focusing on miners in North America and waiting for confirmation of the lows. Guest Links: Twitter: https://twitter.com/globalprotrader Sprott Money: https://www.sprottmoney.com/writers Silver Chartist: https://silverchartist.com Fund Website: https://4779Capital.com David Brady has managed money for banks and businesses for 25 years. Mr. Brady is a CFA charter holder and holds a bachelor's degree in Business Studies and Financial Markets from Dublin City University. He started as a foreign currency trader in USD/DEM and managed multi-billion dollar bond and foreign exchange portfolios for multinationals such as eBay and Salesforce. He has always been interested in financial markets, winning investment competitions at the age of 15. Scoring the highest grade for his graduate thesis, "Is the ERM (Exchange Rate Mechanism) Fatally Flawed," in 1993, and won foreign currency spot, forward, and bond trading competitions at 23. Suffice to say that financial markets have been his passion for much of his life. David is a native of Dublin, Ireland. He moved to the United States in 1998 and now lives in Ontario, Canada, since 2015, with his wife and four kids.

Tom welcomes Michael Singleton to the show. Michael is senior analyst at Invictus. Mike explains their approach to the financial markets and business cycles, which are broken down into growth cycle, inflation cycle, and policy cycle. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c He believes the current inflationary picture is near its end but wage growth is still high. Mike shares that the stock market has the highest correlation to the ISM manufacturing PMI, and that it's important to pay attention to market history and study cycles for guidance. Mike then discusses the effects of rate hikes on corporate debt and housing markets. He states that corporate debt is lower than it was during COVID, but higher than 2007. He further explains that banks are less willing to lend and borrowers are not interested due to high interest rates, which could indicate a credit contraction. In the housing market, the lack of existing home inventory is pushing buyers to new homes, but this is not a healthy dynamic for the economy. Mike explains the base effects of inflation, which have been a tailwind recently but may become a headwind in the near future. Mike also discusses the commodities market, which is a reflationary exposure responding best to economic growth and inflation. He breaks commodities down into four categories: energy commodities, industrial metals, agricultural commodities, and precious metals. Mike suggests that gold should be bought when the Fed stops hiking or starts cutting interest rates, and cash is an attractive option with yields of 5-5.5% in a slowing economic environment. Time Stamp References: 0:00 - Introduction 0:33 - Three Economic Cycles 5:27 - Fed & Business Cycle 6:51 - Market Correlations 10:12 - Corporate Lending 15:04 - Housing Markets 17:48 - Inflation Headwinds 20:12 - Fed Rates & Pause 22:30 - Yield Curve Signals 25:02 - The "Recovery" 27:14 - Commodities 33:24 - Gold - Inflation Hedge? 34:36 - Cash & Treasuries 35:36 - Wrap Up Talking Points From This Episode - Commodities can be broken down into four categories: energy commodities, industrial metals, agricultural commodities, and precious metals. - Oil is an important economic indicator and is highly correlated with inflation, while gold should be bought when the Fed stops hiking or starts cutting interest rates. - Paying attention to market history and studying cycles is important, as humans have to rely on data from the past to guide expectations for the future. Guest Links: Website: https://invictus-research.com/ Twitter: https://twitter.com/InvictusMacro MacroTrial Michael Singleton is Senior Analyst at Invictus. He studied finance and theology at the University of Notre Dame, where he graduated summa cum laude. After graduating, he worked for several years with Broad Run Investment Management. There he spent most of my time conducting deep, fundamental diligence on the highest quality companies. That grounding gained him a thorough, bottom-up approach to research and has proven invaluable. Since then, his focus has been spent studying the economy at-large and its relationship with liquid asset markets. There is a massive hole in the anlysis market for timely, thoughtful, and accessible macroeconomic research. That's why he became involved at Invictus. #GDP #Growth #Rates #Dollar #Commodities #EconomicIndicators #PreciousMetals #YieldCurve #RecessionData #Inflation #Fed #Rates #Gold

Tom welcomes back Nick Giambruno, founder of The Financial Underground and Editor-in-Chief of the Contra Speculator. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Nick notes that the current U.S. world order is breaking down, and the future remains uncertain. He compares governments to crime families and points out that bonds are just an extension of the fiat system. He goes on to emphasize that money is a technology used to send value across time and space, and that government involvement in the monetary system is unnecessary. He adds that only a small subset of the population understand the importance of hard money, and that politicians often don’t understand money either, which leads to inflationary tendencies. Regarding the move towards CBDC's, Nick believes it is more of a desperate last move to maintain the status quo. He explains that the definition of inflation has been manipulated and that the CPI metrics are more akin to propaganda. As such, people will need to find alternative places to store their wealth; gold, Bitcoin, and real estate being potential options. Nick explains that both gold and Bitcoin have resistance to debasement, gold having a long history of 5000 years and Bitcoin having coded annual production that declines. He adds that while gold has portability, Bitcoin is superior in that regard. All in all, Nick believes that both gold and Bitcoin will compete with each other on their monetary attributes in the long-term. Talking Points From This Episode - Governments are like crime families, and bonds are just an extension of the fiat system. - Gold and Bitcoin are both good alternatives to store wealth, as their resistance to debasement gives them value. - The move towards CBDC's is a desperate attempt to maintain the status quo, but the definition of inflation has been manipulated. Guest Links: Website: https://financialunderground.com Twitter: https://twitter.com/NickGiambruno Website: 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, Ron Paul Liberty Report, among others. Nick is a frequent speaker at investment conferences around the world. #NickGiambruno #Fiat #Currencies #Bonds #Mafia #Government #Politicians #SoundMoney #Gold #Inflation #Censorship #Bitcoin #SEC #Securities #Freedom #Decline

Tom welcomes back Luke Gromen of Forest for the Trees back to the show. Luke and Tom discuss the relationship between gold and real rates in the context of a capital crunch. Luke suggests that gold is being re-introduced as a reserve asset due to Russian sanctions and that energy prices need to rise to drive production growth. However, Western borrowers are too heavily indebted to pay their debts, leading to a potential capital crunch. If the US fails to meet its liquidity needs, it will lead to a significant spike in the dollar and a decline in risk assets. Alternatively, if the US Fed provides enough liquidity, it could cause inflation which is bad for bonds but good for gold and stocks. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Luke advises investors to remain unlevered and warns that the US Fed may need to back off before the election, as inflation has been absent for a long time. He suggests shorting long-term US, UK, and Western sovereign debt as term premiums are still negative and yields remain inaccessible. He pins this to the US government's need to pull forward its debt issues and the debt ceilings. Luke further discusses the concept of fiscal dominance and believes that the Fed will soon have to initiate QE to finance government deficits, leading to yield curve control. Finally, Luke discusses the de-dollarization of commodity markets and the need for oil prices to rise by 5-8% year to year. He commends the Biden administration’s decision to purchase oil to fill the SPR and underscores the importance of OPEC in stabilizing the market. Luke stresses that traders must think and plan for the long-term implications of their decisions in order to prevent disaster. Time Stamp References: 0:00 - Introduction 0:45 - Gold and Rates? 3:17 - Emerging Markets 6:20 - A Capital Crunch 8:55 - Fed Policy & Elections 12:24 - Rates & Treasuries 17:43 - Fiscal Dominance 22:20 - Inflation Targeting 28:57 - Yield Curve Control 30:30 - Japan & U.S. Influence 37:02 - Rates & Debt Servicing 38:53 - Banking Sector Health 45:45 - The Dollar & BRICS 52:08 - IMF & Oil Trade 53:50 - Energy Supply & CapEx 56:44 - Peak Cheap Energy? 1:01:03 - SPR & Treasuries 1:04:24 - OPEC & U.S. Relations 1:11:25 - Wrap Up Talking Points From This Episode - Gold is being pulled back into the system as a reserve asset amid Russian sanctions. Energy prices need to rise to drive production growth. - The Fed may need to cut back before the election and it could remain unclear what their plan is for the fiscal system. - OPEC is carefully considering the second and third order implications of its actions in order to prevent the global economy from experiencing drastic price fluctuations. Guest Links: Twitter: https://twitter.com/lukegromen Website: 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.

Tom welcomes Stefan Gleason, president of Money Metals Exchange back to the show. They discuss the legalities and intricacies of purchasing and owning precious metals, as well as the taxation issues surrounding them. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Stephen explains the importance of sound money and how it can be achieved through buying and storing gold and silver. He also highlights the legislative victories of the Sound Money Defense League, such as sales tax exemptions for precious metals in several states. Stephen then goes on to explain the difficulty of getting sales tax exemptions passed due to anticipated loss of revenue. He also explains that five states do not have income tax on gold and silver, and that Arkansas and Arizona recently passed laws exempting precious metals from income tax. Stephen then moves on to discuss Congressman Mooney's bill which requires an audit of the Federal Reserve's gold holdings and prohibits the Fed from doing research or development of a Central Bank Digital Currency. Finally, he discusses the idea of spending gold and silver and making it legal tender, as well as the difficulties in making it a viable option. Stephen acknowledges that people are mainly doing it out of ideological reasons, but suggests that it may gain more traction when it becomes the only payment method someone will accept. Time Stamp References: 0:00 - Introduction 0:50 - State Tax Reform 5:30 - Sales Tax Exemptions 12:23 - Partisan Politics 15:06 - Threshold States 22:43 - Sales & Use Taxes 25:16 - Taxation Reasons 29:45 - Dollar Re-Peg? 35:33 - Treasury Gold Audits 37:59 - Secrecy & Gold Holdings 39:40 - FedNow Purpose 44:47 - Digital Gold 49:47 - Concluding Thoughts Talking Points From This Episode - The legislative successes of the Sound Money Defense League, which has successfully passed sales tax exemptions on precious metals in several states this year. - Stephen highlights the progress made this year in Kentucky, Maine, Vermont, Wisconsin, and New Jersey. - Congressman Mooney's bill requiring an audit of the Federal Reserve's gold holdings could help constrain government spending and curb inflation, and his bill prohibiting the Fed from doing research or development of a CBDC. Guest Links: Twitter: https://twitter.com/MoneyMetals Website: https://moneymetals.com Website: https://www.soundmoneydefense.org/ Stefan Gleason is President of Money Metals Exchange, a national precious metals investment company and news service with over 500,000 readers and 250,000 customers. He launched the company while president of a national newsletter publishing company dedicated to helping subscribers protect their freedoms, assets, and privacy. Gleason founded Money Metals Exchange in 2010 in response to the abusive practices of national advertisers of "rare" coins. These companies often mark up their coins to 50%, 100%, or even higher above their actual melt value. Money Metals believes the average investor should only purchase precious metals at or near their true melt value. The rare coin market is only suitable for highly experienced collectors with money to blow. Gleason also leads marketing, publishing, and real estate holding companies and legislative projects involving sound money and the precious metals industry. Previously, Gleason served as Vice President of the National Right to Work Legal Defense Foundation in Springfield, Virginia. Gleason is a graduate of the University of Florida with a BA degree in Political Science. Gleason has frequently appeared on national television shows and networks such as CNN, CNBC, Fox News, Christian Broadcasting Network, and C-SPAN's Washington Journal. He is often interviewed on national radio shows such as the Lars Larson Show, Michael Reagan Show, G. Gordon Liddy Show, and Ken Hamblin Show. Gleason's analysis and commentary have appeared in The Wall Street Journal, TheStreet.com, Seeking Alpha, Investing.com, Newsweek, and National Review, among thousands of other national, state, and local newspapers, wire services, and Internet sites. #StefanGleason #SoundMoney #MoneyMetals #Gold #Silver #FedNow #DigitalGold #CentralBankGold #GoldReserves #Politics #States #Taxation #Taxes #TreasuryAudits

Tom Bodrovics is once again joined by global forecaster and author David Murrin to discuss the interrelatedness of China and Russia and the possibility of more conflicts around the world. Murrin explains the Kondratiev Cycle of economic turmoil and how it has manifested as a war between NATO and Russia over Ukraine. He warns of the dangers of lateral thinking predators like Putin and Xi and paints a scenario of what an unstable future could look like if Ukraine loses the war. He argues that the Biden administration is the root of the problem and that NATO needs to go on a wartime footing and provide essential equipment to Ukraine. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Murrin highlights the danger of World War Three, suggesting that it looks more like a hot war than a Cold War. He speaks of the White House's effective use of oil caps to deplete Putin’s treasury and the irony that Europe is funding Putin’s war in Ukraine. He also discusses the development of AI and quantum computing and how it is leading to an arms race between China and the United States, with the Chinese ahead. He speaks of Putin's Achilles heel- the fact that Russia’s demographics are in decline, and how Brexit was an attempted revolution in thought, but it failed due to the COVID-19 pandemic. Murrin also talks about inflation, saying that it is the signal from nature that tells us that systems have become tired and old and need to be changed. He believes that the surge of inflation will decrease demand and lead to commodity constriction due to Cold War, bifurcation and conflict. He talks about the BRICS Plus alliance and de-globalization, and the idea of turbocharging growth through productivity and innovation. Finally, he gives his long-term targets for gold and silver and encourages everyone to be bold and recognize problems to create a cascade of change and demand for change. Time Stamp References: 0:00 - Introduction 1:00 - China, Russia & Conflict 6:10 - Prigozhin & Wagner 10:00 - Leadership & Thinkers 12:46 - Ukraine & Putins Goal 17:05 - World War III 24:14 - Supply Constrictions 26:26 - Europe, Russia & Energy 31:32 - Putin's Achilles Heel 35:05 - A.I. Singularity 42:30 - Better Leadership 49:10 - Cycles & Inflation 53:05 - Dollar & Currencies 59:10 - Inflation & Trade 1:02:16 - Rising Rates & Bubbles 1:07:32 - Bonds & Money Printing 1:09:56 - Ratchet Risk Model 1:12:14 - Gold & Silver Outlook 1:17:54 - Ukraine & Geopolitics 1:22:50 - Concluding Thoughts 1:30:07 - Wrap Up Talking Points From This Episode - David Murrin warns of the dangers of lateral thinking predators like Putin and Xi and the need for NATO to go on a wartime footing to protect the West. - The arms race between China and the United States over AI and quantum computing and the need for lateral leaders to adapt and move forward. - Possible gold targets and the importance of demanding change from government. Guest Links Twitter: https://twitter.com/GlobalForecastr Website: https://www.davidmurrin.co.uk/ David Murrin is a polymath with an extensive career in the oil exploration business and the finance industry. He began his career in the jungles of Papua New Guinea and the southwestern Pacific islands, engaging with local tribes and exploring the mineral composition of the region. At JP Morgan in London and New York, he identified collective human behavior on the trading floors. In 1991, he founded JPMs European Market Analysis Group and then co-founded Emergent Asset Management, where he was CIO and Chairman of Emvest, Emergents African land fund. In 2011, he took full control of Emergent, managing the Geomacro fund and acting as CEO until 2014. David's career has focused on understanding collective human behavior and using it to try and predict the future for geopolitics and markets. He has written four books and is a sought-after speaker and advisor. #DavidMurrin #WW3 #Leaders #NATO #China #Russia #Ukraine #LateralThinking #AI #QuantumComputing #Brexit #Putin #Wagner #DeGlobalization #USdollar #Inflation

In this second half of this Palisades interview Tom Luongo and Vince Lanci continue to discuss topics related to gold, western foreign policy, LIBOR, and more. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Vince explains the importance of setting up a gold-convertible exchange and how the supply and demand of gold is moving east. He also explains how the West is combatting this by forcing pricing in dollars, while Saudi Arabia and other BRICs are pricing in Brent. They discuss in depth the factors at play in the war of currencies and sanctions from a geopolitical perspective, and Luongo says the dumbest thing Trump ever did was putting shock and awe sanctions on Iran. They also discuss the free market, the MI6, and the US's weak ground game in Russia. The conversation then turns to the future of global currencies in light of the BRICS+ meeting in August. Tom believes it is an incremental shift and not any major change, and is more worried about something like a false flag that would put the world beyond a point of no return. Vince wants to talk about the note about the German central bank needing a bailout, and Tom believes Europe marking their gold to market is a negotiation or bluff. He also finds it interesting that the SOFR futures indicates that the Federal Reserve is not likely to pivot before the end of the year. Vince argues that some form of inflation must happen in order for the private insurance and pension systems to be fixed. Lastly, Vince says prepare for the worst but notes that things will probably play out slowly. Time Stamp References: 0:00 - Introduction 0:44 - Gold Convertibility 15:19 - Major Wars & Currencies 22:40 - Western Foreign Policy 29:43 - BRICS+ Changes 33:23 - Gold C.B. Bookkeeping 43:55 - Digital Euro & FedNow 54:00 - Debt Ceiling & Biden 56:24 - Powell & End of Libor 1:03:42 - Dollar Demand & Flows 1:07:25 - Preps & Slow Collapse? 1:10:08 - Wrap Up Talking Points From This Episode - How demand for gold and other commodities is moving east, and with it the businesses like, storage, refinement, and manufacturing - Tom Luongo believes the dumbest thing Trump ever did was putting shock and awe sanctions on Iran, as it took away the convenience premium of the dollar and forced Iran to create an infrastructure that incentivised people to use other currencies. - Why we're watching an incremental process play out away from the U.S. dollar. Tom Luongo Links: Website: https://tomluongo.me Twitter: https://twitter.com/TFL1728 Patreon: https://www.patreon.com/GoldGoatsNGuns Luongo is an ex-Research Chemist and Anarcho-Libertarian, whose work can be seen on sites like Zerohedge and Newsmax Media. He has been married for 30 years and has a teenage daughter. Professionally, he has seen an industry be created and destroyed by government fiat. He ran for Florida House and later spent 5+ years working on an electroless Nickel-Boron coating. Additionally, he is the publisher of the Gold Goats 'N Guns Newsletter. He does not believe in the man-made global warming narrative, and his political views lean toward libertarianism. In his free time, he builds, raises goats, plays hockey, drums, and plays board games. Lastly, he owns a few guns. Vincent Lanci Links: Twitter: https://twitter.com/Sorenthek Website: https://vblgoldfix.substack.com/ ZeroHedge: https://tinyurl.com/3x72ndfc LinkedIn: https://www.linkedin.com/in/vincentlanci/ Vincent Lanci is the Founder and Owner of Echobay Partners LLC., and a regular contributor on the financial news platform Zero Hedge. His achievements include being a part of Market Wizard Larry Benedict's Opportunistic Trader project as a precious metals and option market expert, and co-authoring Forecasting Oil and Natural Gas Volatility with Professor Robert Biolsi for the University of Connecticut in 2017. From 2004-2008, Mr. Lanci was the Co-Head of Metals and Energy Trading for CiS Options LLC, Echobay's predecessor. He ran the long-short and vol-arb portfolios for the parent fund, resulting in a 139% increase in profits which totaled to $103MM. His professional experience prior to 2004 includes founding and operating Berard Capital LLC in 1993, working as the chief architect for Whentech's 'Pit-Trader' user interface, and being part of Lehman Brothers and Cooper Neff. An active commentator, Vince speaks at conferences such as Mondo Visione, Mines & Money and is a vocal proponent of a fair playing field for investors. @TFL1728 @Sorenthek #TomLuongo #VinceLanci #Gold #Exchange #Commodities #Swaps #Currencies #Geopolitics #Russia #BRICS #Libor #GoldReserves

Tom Bodrovics welcomes Tom Luongo and Vince Lanci to the show to discuss current geopolitical realities. They discuss the current dealings between the U.S. and China and the impacts on the markets. Vince explains that China is a capitalist society and would not dump their U.S. treasury bonds, as it would be cutting their nose to spite their face. Luongo adds that Joe Biden seems to be a puppet for a variety of actors, and his ultimate purpose is to prevent world war three. He also states that across almost every vertical or idiom there are people trying to ignite and control the conflict. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c The conversation turns to mercantilism, and how it is a manifestation of the deglobalization that has been accelerated by the complexity collapse of Covid. The guests also discuss how the media rarely talks about it, and how Victoria Nuland and Jake Sullivan have recruited various countries to try and isolate Russia. They theorize that the Wagner Rebellion may be used as a method for Putin to essentially “fold in” mercenaries that prove too important to be independent. They then debate the ultimate outcome of the situation, speculating that the US believes that in the long-term Russia collapses due to their reliance of oil revenue, while Russia believes that in the long-term they succeed despite the United States’ tactics. They also discuss how the Saudis are demonstrating their power by pushing a little oil onto the market, and how the Russians have been preparing for the confrontation for the past decade and are now putting in place the same infrastructures as the Chinese put in place in the mid-1990s. At the end of the day, all sides are playing a waiting game, and it seems Putin has the upper hand. It could be a long wait until a resolution is reached. Time Stamp References: 0:00 - Introduction 1:20 - China & Capitalism 6:45 - Biden & Pushback 10:08 - Oil Trade & OPEC 14:34 - Trade & Mercantilism 21:00 - Sanctions & Russia 26:40 - Biden & Sec Gen. NATO 30:43 - Geopolitics & Wagner 34:21 - Belarus & Color Revolts 37:47 - Pakistan & the Saudis 38:53 - U.S. Positioning & Energy 40:24 - Time & Global Pressure 48:48 - Gold Settled Futures Talking Points From This Episode: - The US and Europe are relying on mercantilism and a strong currency to hold out against Russia's tactics. - Russia has been preparing for confrontation with the US for the past decade, putting in place infrastructures to ensure traders that their investments are safe. - All sides are playing a waiting game, with Putin currently having the upper hand. Tom Luongo Links: Website: https://tomluongo.me Twitter: https://twitter.com/TFL1728 Patreon: https://www.patreon.com/GoldGoatsNGuns Luongo is an ex-Research Chemist and Anarcho-Libertarian, whose work can be seen on sites like Zerohedge and Newsmax Media. He has been married for 30 years and has a teenage daughter. Professionally, he has seen an industry be created and destroyed by government fiat. He ran for Florida House and later spent 5+ years working on an electroless Nickel-Boron coating. Additionally, he is the publisher of the Gold Goats 'N Guns Newsletter. He does not believe in the man-made global warming narrative, and his political views lean toward libertarianism. In his free time, he builds, raises goats, plays hockey, drums, and plays board games. Lastly, he owns a few guns. Vincent Lanci Links: Twitter: https://twitter.com/VlanciPictures Website: https://vblgoldfix.substack.com/ ZeroHedge: https://tinyurl.com/3x72ndfc LinkedIn: https://www.linkedin.com/in/vincentlanci/ Vincent Lanci is the Founder and Owner of Echobay Partners LLC., and a regular contributor on the financial news platform Zero Hedge. His achievements include being a part of Market Wizard Larry Benedict's Opportunistic Trader project as a precious metals and option market expert, and co-authoring Forecasting Oil and Natural Gas Volatility with Professor Robert Biolsi for the University of Connecticut in 2017. From 2004-2008, Mr. Lanci was the Co-Head of Metals and Energy Trading for CiS Options LLC, Echobay's predecessor. He ran the long-short and vol-arb portfolios for the parent fund, resulting in a 139% increase in profits which totaled to $103MM. His professional experience prior to 2004 includes founding and operating Berard Capital LLC in 1993, working as the chief architect for Whentech's 'Pit-Trader' user interface, and being part of Lehman Brothers and Cooper Neff. An active commentator, Vince speaks at conferences such as Mondo Visione, Mines & Money and is a vocal proponent of a fair playing field for investors. #TomLuongo #VinceLanci #Biden #Politics #China #Geopolitics #Oil #Russia #Wagner #Sanctions #Gold #Mercantilism #Tarrifs #GoldFutures #SaudiArabia

Tom welcomes back Simon Hunt to discuss the global economy and global political reality. Simon Hunt discusses the global economy and the rapidly declining trust between governments. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Physical consumption of copper is weak and weakening, indicative of either being in a recession or entering one shortly. The various PMI indexes are pointing clearly to recession in the United States and savings rates are falling. Markets are propped up by the reported levels of employment, however he questions some of the data as companies are cutting hours. Europe is in a political mess with Germany in recession, and he expects the global economy to continue poorly into the fourth quarter. Russia understands America's role in the Ukraine War and it's clear the West wants to dismember Russia for control of their natural resources. He anticipates the leadership in Russia to soon take the gloves off with Ukraine, resulting in a dramatic decline in western Equity Markets by the end of the year. This coupled with an increase in the conflict will result in western Central Banks to flush the system with money, causing horrendous inflation and a rapidly falling dollar. Most G7 countries have severe demographic problems, particularly Germany, which could be their last decade as a powerful country due to lack of population. The BRICS+ nations have positive demographics and Iran is a sleeping giant with foreign investment pouring into the country exploring and developing their resources. Real war is coming to Ukraine when Russia takes the gloves off, forcing the West to make some hard choices. This could dramatically escalate should Nato may enter the war more openly. Iran has contingency plans in the event that Israel or the USA tries to intervene and they are fully capable of shutting down the straights of Hormuz. Simon believes there is not much time left for contingency planning by Western individuals and companies. Time Stamp References: 0:00 - Introduction 1:20 - Copper Demand & Economy 7:15 - Russia & Central Banking 11:50 - Global Equity Markets 17:55 - 2030's Global Recovery 19:50 - Job Data & Treasuries 23:39 - Treasury & Dollar Concerns 26:20 - BRICS & Gold Rumours 34:20 - Golds Future Role 38:30 - Commodity Importance 40:30 - China's Reopening 49:20 - Chinese Citizen Debt 51:56 - Demographic Issues 54:40 - Foreign Investment - Iran 57:40 - Commodity Substitution 1:02:50 - Russia & NATO Escalation 1:08:24 - Potential Conflicts 1:09:41 - Closing Thoughts Talking Points From This Episode - The global economy is in a recession, with weak copper demand and PMI indexes in the United States all in recession. - Russia is aware of America's role in the Ukraine War and the West wants to dismember Russia for control of their natural resources. - Real war is coming to Ukraine when Russia takes the gloves off and Iran could be a wildcard. Guest Links: Email: simon@shss.com Website: https://simon-hunt.com/ Report: https://www.theinstitutionalstrategist.com/products-and-services/frontline-china/ Simon Hunt began his career in 1956 in Central Africa as a PA to the Chairman of Rhodesian Selection Trust, one of the two large copper companies in what was then Northern Rhodesia, now Zambia. In 1961, he came back to London and joined Anglo American Corporation of South Africa as a PA to one of the Board Directors, followed by being part of a small sales and marketing team for copper. From there, he helped start up a new copper development organization, CIDEC, financed by copper producers, which he then joined, focusing on conducting end-use studies of copper in Europe. He then went into the City to gain financial experience and founded Brook Hunt in 1975. He was instrumental in setting up the company's cost studies and end-use analyses. Simon appeared as material witness and consultant in two ITC anti-dumping cases in 1978 and 1984, winning both at the commission level. He has spent 2-4 months every year in China since 1993, and until a few years ago would be visiting some 80 wire and cable and brass mill factories across the country every year. He now restricts these factory visits to a smaller number, all of which he has known for many years. Simon also spends many weeks each year traveling around Asia. The focus of the company's services is on the global economy, including the changing geopolitical and financial structures, China's economy and its copper sector, and then the global copper industry as each part is interconnected. Simon is the author of the "Frontline China Report Service," which is marketed by the TIS Group. The Service provides regular reports on China's economy, politics, and financial outlook. Simon established this company in January 1996.

Tom welcomes back Chase Taylor to the show. Chase is a macro strategist and editor of Pinecone Macro Research and head of research at Bulwark Capital Management. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Chase discusses the current economic situation and the potential for a longer and deeper recession than expected. He notes that lags in the economy appear to be longer than in the past, and consumer spending is flatlining, with delinquency data showing signs of struggle. He believes that the Fed's policies of boosting liquidity and raising rates are at odds and could lead to further financial stress. Chase also discusses the issue of debt among different demographics, highlighting the student loan forbearance coming due in October. He notes that student loan debt is twice as high as credit card debt and cannot be escaped through any type of bankruptcy. He then discusses the banking crisis that occurred in the past and how it was mainly based on liquidity, and how small businesses could be hit hard when smaller banks tighten standards. Chase worries that the Fed may have misjudged the lag time with their demand destruction plan, leading to a monumental long trade in commodities due to destroyed supply. He discusses his approach to investing in this current environment. He urges investors to separate their feelings from their trading activities and to be aware of feedback loops, where thing can spiral out of control. Time Stamp References: 0:00 - Introduction 1:15 - Lessons & Good Calls 4:38 - Thinking Clearly & Timing 9:48 - Summer of Discontent 15:03 - Expectations & Recession 19:09 - Gross Domestic Income 21:43 - Fed & Bad Models 27:42 - Recession Outlook 31:20 - Stimulus Factors 33:26 - Paycheck to Paycheck 39:27 - Bank Crises & Risks 44:43 - Depressions & Policies 47:35 - Financial Stress 50:32 - Rate Cuts & Markets 53:00 - Fed Lag Issues 55:13 - Commodities & Energy 57:46 - Uranium 59:15 - Metals Outlook & Cash 1:00:28 - Wrap Up Talking Points From This Episode - The current economic situation appears to be worse than expected, with consumer spending flatlining and delinquency data showing signs of struggle. - Student loan debt is twice as high as credit card debt and cannot be escaped through any type of bankruptcy. - Investors should separate their feelings from their trading activities and be aware of feedback loops, where things can spiral out of control. Guest Links: Website: https://www.pineconemacro.com/ Website: https://bulwarkcapitalmgmt.com/ Twitter: https://www.twitter.com/pineconemacro Substack: https://pineconemacroresearch.substack.com/ Chase Taylor is a macro trader and the global macro strategist and editor at Pinecone Macro Research. He recently became Head of Research at Bullwark Capital Management. Chase launched PMR in 2018, where he provides unique macro insights and analysis in a weekly and monthly research product. Chase does not come from Wall Street or business school, but the military. He prides himself on being a self-taught macro thinker and practitioner. Chase started in the Air Force working on B-1 Bombers, but spent most of his career as a geospatial intelligence analyst, working on strategic and tactical intelligence problem sets. He has also worked in acquisitions at a research laboratory focused on rocket propulsion. Chase combines the analytical techniques he learned in the intelligence community with a unique focus on history and nature to create a distinctive macro framework. He combines technical analysis, fundamental changes, and the power of narratives and reflexivity to uncover asymmetric investments. #ChaseTaylor #Recession #Construction #Credit #Delinquencies #Jobs #GDI #Fed #PreciousMetals #EconomicOutlook #Commodities #Uranium #Gold #Energy #FedPolicy #BankingCrisis #Loans

Tom Bodrovics welcomes back Danielle DiMartino Booth to discuss the looming problems of the US credit markets. Booth notes that the US is in the midst of a controlled demolition, and that the deliberate nature of Powell's higher for longer rate hike schedule is having a negative effect in the form of bankruptcies. Despite this, there has not been a major financial meltdown due to the amount of credit card spending and the amount of fiscal stimulus from the pandemic. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Booth discussed the tightening of banking standards and lending standards, which she noted have been imposed by credit unions and regional banks. She noted that as long as Jay Powell succeeds in maintaining a higher for longer stance on monetary policy, there will be a continued bleed into the money market fund industry. She discussed the magnitude of fiscal relief and fiscal stimulus that is still being pumped into the economy, and how this is helping the Fed to regain some of their credibility. Danielle also discussed student loan forbearance, which was part of the debt ceiling law and explained that there was little room for an extension. She then discussed commercial real estate, noting that demand had declined and companies and businesses were turning in their keys. DiMartino Booth then discussed the goal of Federal Reserve Chairman Jay Powell, which is to raise interest rates and rewrite modern monetary policy history. To do this, he must get rid of the zero bound, stop at two percent, get rid of quantitative easing, and get out of the credit easing business. Finally, DiMartino Booth discussed the global implications of the US keeping their rates higher for longer. She also notes that major fiscal relief should not be expected until the second quarter of 2025 at the earliest. Time Stamp References: 0:00 - Introduction 0:52 - Fed Pauses & Bankruptcies 2:27 - Stimulus & Credit 4:46 - Consumer Debt & Spending 7:02 - Lending Tightening 8:27 - Powell Approach 10:23 - Soft Landing & Jobs 14:12 - Impacts & Stimulus 16:08 - Student Loans 18:17 - Commercial Real Estate 19:44 - Easing & Timelines 22:05 - Monetary History 26:41 - U.S. & C.B. Stress 28:22 - Wrap Up Talking Points: - The US is in the midst of a controlled demolition, with the deliberate nature of Powell's higher for longer rate hike schedule having a negative effect in the form of bankruptcies. - Federal Reserve Chairman Jay Powell is aiming to raise interest rates and rewrite modern monetary policy history. - The US dictates global monetary policy, and domestically major fiscal relief should not be expected until the second quarter of 2025 at the earliest. Guest Links: Twitter: https://twitter.com/DiMartinoBooth Substack: https://dimartinobooth.substack.com/ Website: https://quillintelligence.com/ YouTube: https://www.youtube.com/c/DanielleDiMartinoBoothQI Danielle DiMartino Booth is CEO and Chief Strategist for Quill Intelligence LLC, a research and analytics firm. DiMartino Booth set out to launch a #ResearchRevolution, redefining how market intelligence is conceived and delivered, with the goal of not only guiding portfolio managers but promoting financial literacy. To build QI, she brought together a core team of investing veterans in analyzing the trends and providing critical analysis of what drives the markets. Since its inception, commentary and data from DiMartino Booth's The Daily Feather have appeared in other financial sources such as Bloomberg, CNBC, Fox Business, Institutional Investor, Yahoo Finance, The Wall Street Journal, MarketWatch, Seeking Alpha, TD Ameritrade, TheStreet.com, and more. A global thought leader on monetary policy, economics, and finance, DiMartino Booth founded Quill Intelligence in 2018. She is the author of FED UP: An Insider's Take on Why the Federal Reserve is Bad for America (Portfolio, Feb 2017), a full-time columnist for Bloomberg View, a business speaker, and a commentator frequently featured on CNBC, Bloomberg, Fox News, Fox Business News, BNN Bloomberg, Yahoo Finance and other major media outlets. Before Quill, DiMartino Booth spent nine years at the Federal Reserve Bank of Dallas, serving as Advisor to President Richard W. Fisher throughout the financial crisis until his retirement in 2015. Her work at the Fed focused on financial stability and the efficacy of unconventional monetary policy. DiMartino Booth began her career in New York at Credit Suisse and Donaldson, Lufkin & Jenrette, where she worked in the fixed income, public equity, and private equity markets. DiMartino Booth earned her BBA as a College of Business Scholar at the University of Texas at San Antonio. She holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.

Tom welcomes Lawrence Lepard from Equity Management Associates back to the show. Lawrence discusses the rivets on the global economy that are continuing to snap. We have had a number of bank failures in a matter of weeks, part of a larger pattern going back years. We are seeing large commercial mortgage failures and companies walking away, and Lawrence believes more pain is yet to come in the banking sector, with one to two trillion in write downs. The Fed is likely to intervene once again, and something is likely to break soon. *Palisade Radio Links:* ► Website & Newsletter: https://palisadesradio.ca ► Rumble: https://rumble.com/c/c-1586024 ► Odysee: https://odysee.com/@PalisadesGoldRadio:c Lawrence discusses the U.S. debt maturities, and how the U.S. government soon will have to pay over a trillion to meet its obligations annually. The math arguably doesn't work, and the Fed is trapped. The market will force them to pivot at some point, and they will do whatever they can to hold the system together. He explains why it is important to hold money that can't be printed, like gold, silver, or bitcoin. He advises to take the long view and recognize why you are holding it, as in the context of saving your wealth, since things could break quickly. Gold, silver, and Bitcoin could move rapidly in a crisis. Some of the problems could be improved by increasing the money supply. But in a debt based system, there is no going back. Consumers are feeling the pinch and borrowing more from credit isn't a long-term solution. He discusses which age groups are most at risk in a downturn. Boomers hold significant amounts of real estate and equities, and when they realize that inflation is staying, where will they move their capital to preserve wealth? The world has not yet adapted to the new paradigm of high inflation. There is a multi-generational buying opportunity in the gold stocks, and many holders are tired of the market. If you are a contrarian, you realize people will wake up and these stocks will take off. We must understand the inevitable nature of what is coming. When the system comes unglued, there may be no time to get out. Silicon Valley Bank collapsed in hours, and it is entirely possible things could unravel rapidly and at scale. Time Stamp References 0:00 - Introduction 1:00 - Financial Problems 5:15 - U.S. Debt Maturity 7:06 - Rate Levels & Risks 13:13 - Bond Mkt Volatility 15:34 - Sentiment & Miners 16:24 - Fed Mistakes & CapEx 21:37 - Money Supply Growth 23:47 - Inflation & Consumers 27:52 - Foreign Tres. Demand 30:18 - Wealth Demographics 34:35 - Gold Miner Chart 39:00 - Summer Doldrums 41:50 - Rapid Contagion 47:16 - Wrap Up Talking Points From This Episode - The global economy is continuing to snap, with one to two trillion in write downs likely, and the Fed likely to intervene soon. - Investors should hold money that can't be printed, such as gold, silver, and bitcoin, in order to protect their wealth in a crisis. - Boomers are particularly at risk in a downturn, and there is a multi-generational buying opportunity in gold stocks. Guest Links: Newsletter: http://eepurl.com/gOf1dT Website: http://www.ema2.com Twitter: https://twitter.com/LawrenceLepard 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.