Palisades Gold Radio Collin Kettell

Tom welcomes a new guest, geologist and newsletter writer Byron King for a discussion on the culture of deception and misdirection in society. Byron, an Ivy League-educated geologist and retired U.S. Navy officer, shares his thoughts on society's shift from rigor to oblivion due to the loss of clear enemies post-Cold War and the emergence of self-proclaimed elites with skewed realities.







The conversation covers various topics including lawfare, its application against political adversaries, and the expansion of heightened surveillance and arrests. They also discuss the geopolitical conflicts affecting the world, with implications for the US and Canada, and the historical context of the US dollar's dominance in global trade and its role in inflation.







Byron expresses concern over potential consequences if the US faces a crisis managing these conflicts, which could result in economic instability and further inflation. They disucss the impact of Federal Reserve interest rate policy on the economy and gold market, as well as the increasing disparity between asset-owning versus non-asset-owning populations.







Byron also explores the undervaluation of mining industries, particularly those producing rare earth elements, due to cultural factors such as reliance on Chinese producers with low costs. Central banks' increased gold buying, driven by de-dollarization and geopolitical events is also discussed. The world will continue to need base metals like high-grade copper which will necessitate the mining of lower-grade ores and increased prices.







Time Stamp References:0:00 - Introduction0:50 - Reality & Distortions7:49 - Lawfare & Politics13:23 - Truth, Media, & Events21:15 - Honest Money & Living Well27:24 - The West & Inflation37:38 - Golden Awareness42:57 - Fed's Direction Now45:30 - Manufacturing & Rural54:05 - EV Demand & Rare Earths1:00:06 - Mines & Timelines1:07:19 - Conference Takeaways1:14:28 - Wrap Up







Talking Points From This Episode









* Society's shift from rigor to oblivion due to loss of clear enemies and rise of self-appointed elites.







* Increased demand for gold due to global de-dollarization and geopolitical conflicts, leading to potential economic instability.







* The undervaluation of mining industries and the importance of investing in reputable companies despite political influences.









Guest Links:Website: https://paradigmpressgroup.com/







Byron King has first-hand expertise and connections in important industries like commodities and defense. He literally goes the extra mile to bring you perspectives you won’t find anywhere else.







His insights have been featured on MSN Money, Marketwatch.com, Fox Business News, CNBC’s Squawk Box, Larry Kudlow, Glenn Beck and PBS’s NewsHour. He has also been published in the Financial Times, The Washington Post and The Wall Street Journal.







Byron graduated from Harvard University with a degree in geological sciences. He then went to work as a geologist for Gulf Oil Exploration and Production. Next came a tour as a flight officer for the U.S. Navy. At one point, he was an aide to the United States Chief of Naval Operations. After leaving active duty, Byron began practicing law.







In 2002, he started corresponding with the staff of The Daily Reckoning. His work was featured so frequently he was often called an “unpaid contributor.” When he officially joined the staff, he began criss-crossing the globe in search of the world’s best mining investment opportunities.







Even now Byron spends much of his time away from home,

Tom Bodrovics welcomes a new guest to the show Chris Macintosh. Chris is the founder of CapitalistExploits and a seasoned hedge fund manager with experience in seven countries. They engage in a discussion revolving around ongoing recalibrations and rotations in capital markets, focusing primarily on the deindustrialization of the West and financialization as significant shifts over the last few decades. Chris underlines the disconnect between Western nations' massive market caps and their actual production capabilities. He also discusses short-term changes such as the increasing dominance of few companies in the S&P 500, accounting for a substantial percentage of market capitalization, and passive capital flows from Western economies affecting investing, particularly smaller companies.







Chris expands on the potential consequences of a mere 10% rebalance in Western markets, emphasizing instability arising from massive sovereign debts, derivative markets, and potential debt cycle inflation. He highlights the anomaly of passive capital flows toward large cap stocks and the importance of asymmetry in investing for low downside risk with significant upside potential. Chris mentions automation selling during a downturn and seeking contrarian sectors as an alternative investment strategy.







The conversation covers geopolitical risks, including the possibility of 'great taking' or conflict, having assets outside the financial system in counter-cyclical, counter-jurisdictional asset classes like food, shelter, agriculture, precious metals, and maintaining a long-term perspective. Chris discusses the importance of education, problem-solving skills, diversification, and taking action to deal with fear. He prefers Latin and South America for living and investing. He advocates for banking in multiple jurisdictions and investing in cash-flowing businesses.







Time Stamp References:0:00 - Introduction1:07 - Economic Overview & Trends14:30 - Derivatives & Rebalancing24:14 - A Silent Bull Market27:59 - Liquidity Analysis31:30 - Great Taking & Risks36:05 - Cloudstrike & Russia39:08 - War & Capital Shifts42:57 - Politics Stability & Capital49:07 - Interesting Jurisdictions54:19 - Banking & Diversification58:24 - Fear, Volatility & Action1:04:13 - Wrap Up







Talking Points From This Episode









* The West's massive market caps vs production capabilities create instability due to debt and derivative risks.







* The impact of passive capital flows on investing, with unloved sectors offering potential protection.







* Preparing for a rotation away from overvalued equities and towards undervalued sectors.









Guest LinksTwitter: https://x.com/capitalistexpWebsite: https://capitalistexploits.at







Raised in Southern Africa, Chris Macintosh has since lived & invested from 7 different countries. After a career at top tier investment banks such as JPM, Lehman, Robert Flemmings and Invesco, Chris became tired of corporate life, and has since built and sold multiple million dollar companies, overseen $35m into venture capital, all the while investing full time, and managing his own and private client wealth.

Tom Bodrovics, welcomes back Mikkel Thorup for an updated discussion on the increasing trend of moving and investing offshore due to negative developments in Western Countries like Canada and the USA. Mikkel highlights how political statements from leaders and the media could fuel the desire to leave these countries. He underscored the urgency of having a backup plan, given the potential increases in fees and taxes that could make leaving increasingly expensive.







Mikkel expressed concerns over the rising costs of moving overseas and the increasing investment requirements for obtaining residency in some countries. He acknowledged the appeal of countries with attractive taxation, weather, and good economies. Mikkel advocates for individual freedom and the importance of making good decisions for ones families and investments.







He lauded the efforts of the new presidents of El Salvador and Argentina in turning around their economies through libertarian policies, but remains cautious. Mikkel discusses his appreciation for various cultures, economic drivers, food, water, energy independence, and geopolitics when considering countries for expats.







Italy and Ireland are amongst top countries for individuals with ancestry to apply for citizenship or residency due to their relatively straightforward processes. He shared real-life examples of clients obtaining Italian and Irish citizenship through ancestral connections. Mikkel discussed various aspects of international investment and taxation, including the process of withdrawing investments from Canada or the US without triggering capital gains taxes. How one goes about selling shares, relocating, and purchasing property overseas.







Time Stamp References:0:00 - Introduction1:16 - Expat Trends2:37 - Canada Exit Fees?5:02 - Moving & Expenses6:40 - Residency Costs11:55 - Residency Programs14:05 - Having a Backup Plan16:16 - El Salvador & Argentina22:16 - Attitudes & Lessons24:28 - Argentina & BRICS26:40 - Passports & Border Control30:38 - Panama Residency33:06 - Mexico Outlook & Economics37:06 - Western Europe Concerns40:17 - Passport by Ancestry43:55 - Citizenship by Invest.49:00 - Citizenship by Birth55:10 - Moving Your Investments58:37 - Wrap Up







Guest Links:Conference: https://www.expatmoneysummit.comWebsite: https://expatmoney.comTwitter: https://x.com/ThorupMikkel







Mikkel Thorup, is the CEO and founder of Expat Money, and is a renowned expat consultant for high-net-worth individuals. He specializes in tax mitigation, securing second residencies and citizenships, and constructing diverse foreign investment portfolios. Born as an autodidact, Mikkel dropped out of school at 15 and has since lived and traveled extensively across over 110 countries. He's the author of several best-selling books on expat living and hosts the Expat Money Show podcast. Mikkel founded the Expat International School of Freedom & Entrepreneurship in 2021, an online learning platform for children. A keynote speaker at many international events, he's also a philanthropist, serving on various boards and supporting a Ugandan non-profit for teen mothers. Mikkel is a devoted husband and father of two, with a passion for travel.

Tom welcomes returning guest Peter Grandich from Peter Grandich and Company for a discussion on current economic risks and market trends. Grandich expresses concern over the markets' failure to acknowledge major issues. He argues that gold markets show some recognition of these issues, while the stock market remains complacent. With experience through three financial crises, Grandich warns that this situation is more severe due to political division and lack of meaningful solutions from Congress or the Fed. He criticizes the Fed's role in exacerbating debt through money creation during the pandemic.







Peter discusses societal shifts towards consuming beyond means and their impact on happiness, the stock market, and the economy. He traces these trends to the influence of television and the internet, which have convinced people that they need more money for happiness. They note that some of the happiest people have little or no wealth while some wealthy individuals are unhappy. He criticize politicians' approach to economics compared to household management, resulting in societal issues like increasing consumer debt and a culture of living beyond it's means.







Grandich discusses potential risks to the markets, including political instability leading up to the U.S. election and the impact on foreign investors divesting from American securities. He emphasizes gold's importance as a store of value in the new economic structure and advocates for capital preservation due to perceived market overvaluation. Grandich encourages individuals to build a "financial ark" through self-sufficiency, preparing for potential financial hardships, and diversifying portfolios with stocks, bonds, and gold. He also mentions the junior resource market as an area of potential undervaluation for companies searching for metals and base metals.







Time Stamp References:0:00 - Introduction0:31 - Markets & Uncertainty2:12 - Fixing Things & Politics5:40 - Exponential Debt Crises8:30 - Mass Media & Marketing10:57 - Historic Comparisons13:55 - Fed Perception/Reality16:58 - Dot Plots & Fed Cuts19:26 - Political Turmoil Risk23:59 - BRICS Alliance & Gold28:20 - Building a Financial Ark32:19 - Defining Bubbles35:56 - Anti-Bubble Opportunities38:52 - Thoughts on Uranium41:27 - Base Metals & Miners46:35 - Crash Scenarios & Gold49:20 - Wrap Up







Talking Points From This Episode









* Economic risks include political instability before the U.S. election and market complacency. Gold is seen as a safe store of value.







* Societal shifts towards consuming beyond means impact happiness, debt levels, and stock markets.







* Political division, lack of meaningful solutions from Congress or the Fed exacerbate economic concerns.









Guest Links:Website: https://petergrandich.comTwitter: https://twitter.com/PeterGrandich







Peter Grandich entered Wall Street in the mid-1980s with neither formal education nor training. Within three years, he was appointed Head of Investment Strategy for a leading New York Stock Exchange member firm. He would hold positions as Chief Market Strategist, Portfolio Manager for four hedge funds, and a mutual fund that bore his name. His abilities have resulted in hundreds of media interviews, including Good Morning America, Fox News, CNBC, Wall Street Journal, Barron's, Financial Post, Globe and Mail, US News & World Report, New York Times, Business Week, MarketWatch, Business News Network and dozens more. In addition, he has spoken at investment conferences worldwide, edited numerous investment newsletters, and was one of the more sought-after financial commentators.

Tom welcomes back Alasdair Macleod, Head of Research at GoldMoney to discuss the current trends in the gold market. The conversation covers various aspects of the gold market, including the role of the dollar, increased demand for physical gold, particularly in China, and the impact on the COMEX market.







Macleod explains that gold is hitting new highs due to the dollar's decline rather than an increase in gold prices per se. He attributes this trend to government policies that maintain large budget deficits. A Trump second term is likely to continue weakening the dollar. Chinese households are turning to physical gold as an alternative to stocks and property, leading to increased demand and potential drainage of physical liquidity from the West.







In terms of the COMEX market, Alasdair points out that open interest has significantly increased, particularly due to neutral spread activity and arbitrage. He notes that this market could become more overbought and warns about potential mark-to-mark losses among the swaps, which may lead to further paper demand and a 'bear squeeze' on these institutions.







Alasdair discusses the impacts of the Comex, London, and Shanghai exchanges on metals markets. There is a drainage of physical gold from Western markets, particularly London, due to arbitrage opportunities. Chinese banks are expected to increase their gold reserves, and there's also a resurgence in demand for Exchange-Traded Funds (ETFs).







They discuss the risks associated with credit and the potential for a crisis in the financial system, particularly regarding the clearinghouse and shares. Alasdair advises protecting oneself by holding physical assets like gold and silver and ensuring sufficient supplies during the initial stages of a potential collapse.







Lastly the effects of BRICS alliance is discussed and their plans to back their currencies with physical gold and silver. Although an attempt was made last year, it did not succeed due to opposition from China and India. Russia is expected to bring this issue up during the upcoming BRICS meeting in Astana in October, proposing that 40% of the new trade settlement currency would be backed by gold. Despite doubts about execution, having significant gold reserves and accumulating substantial quantities of gold for years could significantly impact the global economy if successful.







Time Stamp References:0:00 - Introduction0:49 - Gold Market Shifts3:43 - Gold & Dollar Demand11:37 - Comex Open Interest16:25 - Categories at Comex21:53 - West Vs. East Arbitrage24:16 - ETF's & Other Demand28:32 - Producers & Margins30:25 - Interest Rates & Bank Risk37:00 - Trump Economic Implications40:12 - Political Solution Unlikely44:26 - G7 Nations & Debt Problems46:42 - Ownership & Debt Systems54:20 - BRICS Progression1:01:54 - Lessons & Wrap Up







Talking Points From This Episode









* Gold prices are hitting new highs due to the dollar's decline, leading to increased demand for physical gold, particularly in China.







* The COMEX market is experiencing significant increase in open interest due to neutral spread activity and arbitrage opportunities, potentially leading to overbought conditions and mark-to-mark losses for swaps.







* Gold markets are witnessing a drainage of physical gold from Western markets, primarily London, as well as increased demand from Chinese banks and Exchange-Traded Funds (ETFs).







* Russia's may proposed in the BRICS alliance to back new trade settlement currencies with 40% gold.









Guest Links:Twitter: https://twitter.com/MacleodFinanceWebsite: a href="https://goldmoney.

Tom welcomes back Lawrence Lepard from EMA2 Equity Management Associates for a discussion on economic trends and the Federal Reserve's monetary policy. Lepard expresses concerns about the Fed's potential acceptance of a higher inflation rate due to rising U.S. interest expenses and a large budget deficit. Jerome Powell, the Fed chairman, is also contemplating rate cuts to support employment levels and government finances amidst ongoing inflation and uncertainty in unemployment data and Gross Domestic Product growth figures. Larry and Tom contemplate potential rate cut timelines, the possibility of a shift in Fed tactics, concerns over financial crises, and the potential impact of political events on the Fed's decisions before the upcoming election.







The conversation shifts overseas to Japan's economic situation, with Lepard predicting that gold will reach new all-time highs due to Japan's reliance on imported oil and its shift towards purchasing oil in yen instead of dollars, potentially leading to a surge in gold demand and higher prices. Larry anticipates a decade-long bull market for gold and silver stocks as they are expected to double or even triple in value within the next 12 to 18 months due to higher metal prices, increased earnings, and potential dividends or stock buybacks.







Larry expresses his investment preferences, focusing on companies that pay dividends or hold precious metals as treasury assets. He also emphasizes the importance of responsible capital management following lessons learned from previous cycles. Despite concerns about mergers and acquisitions for large companies during this period, Larry suggests they might pay higher prices later in the bull market instead of seizing opportunities at low prices now.







Larry discusses his current projects, which include completing a quarterly report and writing a white paper on why sound money is crucial to solving the world's problems. He proposes making gold, silver, and Bitcoin legal tender, abolishing the Federal Reserve, letting banks fail if they engage in risky practices, and eliminating the Federal Deposit Insurance Corporation as steps towards progressing towards sounder money.







Time Stamp Reference0:00 - Introduction0:53 - Rate Expectations3:05 - Employment Factors5:06 - Something Will Break11:00 - Recent Political Events16:35 - Mathematical Certanties20:14 - Bonds & Long-Term Demand23:32 - Stock Concentration26:00 - Crack-Up Boom Bust?27:35 - Global Problems30:55 - Wealth Destruction33:03 - Silver or Gold First?37:22 - Miners & Valuations41:05 - Dividends in Gold?42:53 - Finding Opportunity46:23 - Mexico & Mining?49:53 - Germany & Bitcoin Sales53:15 - Report & Whitepaper56:52 - Spreading Awareness1:00:16 - Wrap Up







Talking Points From This Episode









* Larry discusses Fed's potential acceptance of higher inflation due to US interest expenses, budget deficit & Jerome Powell's rate cuts.







* Lepard predicts a decade-long gold bull market due to Japan's yen oil purchases, higher prices, increased earnings.







* Larry suggests focusing on dividend companies or precious metals; proposed steps towards sounder money, including making gold legal tender.









Guest Links:Germany Bitcoin Sale: https://finance.yahoo.com/news/germany-sells-off-final-bitcoin-064941448.htmlNewsletter: http://eepurl.com/gOf1dTWebsite: http://www.ema2.comTwitter: https://twitter.com/LawrenceLepard







Lawrence W. Lepard is the Founder and Managing Partner of Equity Management Associates...