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  • Jaime Carrasco: Monetary Insurance Premiums are Exploding as Risk Grows

    Jaime Carrasco: Monetary Insurance Premiums are Exploding as Risk Grows
    2025/12/23
    In the podcast, Jaime Carrasco, a senior portfolio manager and senior investment advisor at Harbourfront Wealth Management, discusses the significant themes and market dynamics of 2025 with host Tom Bodrovics. Carrasco highlights the remarkable performance of gold and silver, which hit new all-time highs by December 22, 2025. He attributes this to the end of the petrodollar system and a massive power shift from credit to hard assets, with gold leading this transition. Carrasco emphasizes that the easy money made in the past three years of building positions is over, and the focus should now be on the next leg up for precious metals. Carrasco identifies several key indicators supporting this shift, including the unwinding of the Japanese carry trade, rising long-term interest rates, and geopolitical tensions. He argues that central banks are losing control and will resort to printing money, which will drive up the price of gold. Carrasco also notes that the value of fiat currencies is declining, making gold and silver more attractive as hedges against government policies and currency devaluation. The discussion touches on the importance of understanding the credit cycle and the role of gold as a hedge against bad government policies. Carrasco mentions that central banks are increasingly positioning themselves in gold, surpassing US treasuries in gold reserves. He predicts that the transition from credit to hard assets will continue, with gold and silver acting as lifeboats in a drowning monetary system. Carrasco also discusses the performance of his conservative portfolio, which beat the benchmark by over 40% in 2025. He attributes this to the strengthening of positions in precious metals and the revaluation of fiat currencies against gold. He advises investors to focus on allocation rather than price, suggesting that a 30% allocation to precious metals is a good starting point. The conversation also covers the role of silver, which Carrasco sees as having more room to grow due to a structural deficit in production. He highlights the importance of stock selection and the potential for significant gains in silver producers. Carrasco also touches on the energy sector, noting that while oil is necessary, the energy complex is changing, and nuclear power may play a bigger role in the future. In conclusion, Carrasco advises investors to position themselves for the coming chaos by focusing on gold and silver as monetary insurance. He believes that the current environment presents an opportunity for significant gains in precious metals and that investors should start building their allocations now.
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    1 時間 2 分
  • Lobo Tiggre: He Who Wins this Race Wins the World

    Lobo Tiggre: He Who Wins this Race Wins the World
    2025/12/22
    In a recent podcast, Tom Bodrovics interviewed Lobo Tiggre, author and founder of the Independent Speculator, to reflect on the year's investment landscape and look ahead to 2026. Tiggre, known for his cautious approach to predictions, highlighted that he avoids the "prediction racket" and instead focuses on strategic speculation. He noted that while he didn't make money on certain metals like rare earths, antimony, or gallium, he successfully capitalized on copper, gold, silver, and uranium. Tiggre emphasized that his approach is about "hits and misses" rather than precise predictions, and he remains bullish on copper for 2026 due to structural imbalances and strong demand drivers, particularly from electric vehicles and AI infrastructure. Tiggre also discussed the risks associated with gold and silver, suggesting that while these metals have potential for significant gains, they also carry higher risk, especially if the market enters a consolidation phase. He cautioned against chasing all-time highs and advised taking profits to secure gains. Reflecting on the 2011 peak in gold and silver, Tiggre underscored the importance of learning from past market cycles and maintaining a disciplined approach to investing. He also touched on the potential impact of a dramatic fall in the gold-to-silver ratio, suggesting it could signal the end of the bull market, but he believes current supply constraints in silver are temporary. The conversation also delved into the broader economic context, with Tiggre discussing the influence of fiscal dominance and the Fed's policies on commodity markets. He expressed optimism about the long-term prospects for metals like gold and silver, citing the ongoing debasement of fiat currencies. Tiggre also shared his thoughts on the AI bubble, acknowledging the potential for a short-term market correction but viewing it as a buying opportunity for real assets like metals. Looking ahead to 2026, Tiggre is hopeful that the market will move towards a more rational allocation of capital, particularly in the AI sector, which he sees as bullish for his favorite commodities.
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    1 時間 2 分
  • Jim Rogers: Lessons from a Life of Adventure, Investment, and Exploration

    Jim Rogers: Lessons from a Life of Adventure, Investment, and Exploration
    2025/12/18
    Jim Rogers, a renowned investor, author, and world traveler, shares his insights and experiences during a podcast interview. Rogers, known for his adventurous spirit, discussed his record-breaking journeys across the globe by motorcycle and car, highlighting the unique perspectives and economic lessons he gained from these experiences. He emphasized that traveling by motorcycle offers a more immersive and meditative experience, allowing him to be fully present in the environment, while traveling by car provides practical advantages such as the ability to rest and plan. Rogers' travels, which began after his early retirement at 37, provided him with valuable insights into global economics and cultures. He noted that governments often make mistakes in controlling supply and price of commodities and that personal responsibility and market feedback are crucial for investors. Rogers' observations in countries like China and Russia underscored the differences between capitalism and oppressive systems, with capitalism generally leading to greater success and opportunities. Throughout his journeys, Rogers learned that change and adaptability are key to successful investing. He advised investors to look for countries that are cheap and changing for the better, as these often present the best opportunities. Rogers also stressed the importance of infrastructure in driving economic growth and opportunities. He recounted his experiences in Japan during the stock market bubble, noting that people's attitudes and beliefs about prosperity can significantly impact their perception of risk and opportunity. Rogers emphasized the value of discipline, hard work, and preparation in achieving success. He shared that his upbringing in a poor environment taught him the importance of diligence and focus. Reflecting on his life, Rogers advised listeners to chase their dreams and not be afraid of failure, as the regret of not trying can be more profound than the failure itself. He closed the conversation by encouraging everyone to pursue their dreams, as it is the only way to truly know if they can be achieved.
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    36 分
  • London Paul, Eric Yeung, and Just Dario: 2026 Could be the Most Explosive Year for Silver in History

    London Paul, Eric Yeung, and Just Dario: 2026 Could be the Most Explosive Year for Silver in History
    2025/12/16
    The podcast episode, hosted by Tom Bodrovics, features a panel discussion with Eric Young and London Paul to delve into the current dynamics of the silver market. The conversation highlights several key developments, including significant contracts on exchanges, particularly the COMEX, where a large number of contracts are standing for physical delivery. This trend is attributed to projections of increased industrial demand, particularly from Asia, driven by the growing need for silver in electric vehicles (EVs) and semiconductors. The panel discusses the unusual timing of these contracts, typically seen in December, and the potential implications for the market. The discussion also touches on the recent outage experienced by the CME, which some panelists suggest was orchestrated to manage a large request for physical settlement. This incident is seen as a maneuver to control the price of silver, which has been rising despite attempts to suppress it. The panel notes that the physical demand for silver is outpacing supply, leading to a tight market and increased lease rates at the LBMA. London Paul emphasizes the global strain on physical silver, citing increased demand from China, Russia, and India. He notes that China's recent margin hikes on the Shanghai Futures Exchange are aimed at flushing out speculative paper positions, rather than addressing the underlying physical demand. The panel agrees that the market is increasingly driven by physical demand, with open interest in paper contracts remaining low despite rising silver prices. Eric Young highlights the potential for significant volatility in the silver market, particularly as the COMEX approaches its delivery month in March. He suggests that the market could see extreme price movements, including limit up and limit down days, as physical demand continues to outstrip supply. The panel also discusses the potential for more outages at exchanges and the importance of monitoring lease rates and backwardation in China as indicators of market stress. Overall, the discussion underscores the growing industrial demand for silver, the tightening of the physical market, and the potential for significant price movements as the market continues to navigate these challenges. The panelists advise listeners to approach silver investing with a long-term perspective, emphasizing the importance of understanding the market and making informed decisions.
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    1 時間 12 分
  • Tony Greer: The Mother of All Rotations is Coming to Gold and Gold Miners

    Tony Greer: The Mother of All Rotations is Coming to Gold and Gold Miners
    2025/12/12
    During the podcast, trader and editor of 'The Morning Navigator,' Tony Greer, shares his insights on the increasingly attractive commodities trade. Greer attributes this attractiveness to a combination of under-investment, regulatory changes, and a focus on rebuilding manufacturing and energy production. He highlights the significant performance of gold miners, up 141% year-to-date, and the broader commodities sector, which has seen a flywheel effect with various commodities taking off in sequence. Greer discusses the potential for commodities to rally for three to four years, driven by the Federal Reserve's balance sheet expansion and the resulting inflation. He also touches on the potential rebalancing of passive funds into outperforming sectors like commodities and energy. Greer's current positions include gold, gold miners, industrial miners, airlines, and Bitcoin, which he bought at $82K after a pullback. The conversation also covers the potential for a bubble in AI and the shift in Bitcoin sentiment following a large sell-off by a whale. Greer shares his approach to risk management, using trailing stop losses to avoid holding losing positions. He also discusses his preference for focusing on a few trusted sources of information and his upcoming conference in Nashville. Greer's outlook for the next year includes higher commodity prices, potential volatility in Bitcoin, and a significant move in gold miners. He also touches on the potential for stablecoins to help maintain the dollar's reserve currency status. The podcast concludes with Greer expressing his excitement for his upcoming conference and his appreciation for the host's new role.
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    43 分
  • Michael Pento: Fed Turns the Liquidity Taps Back On and Cuts Rates Despite Soaring Markets

    Michael Pento: Fed Turns the Liquidity Taps Back On and Cuts Rates Despite Soaring Markets
    2025/12/11
    In a podcast discussion following the FOMC meeting on November 10th, Michael Pento, President and Founder of Pento Portfolio Strategies, shared his views on the Federal Reserve's decisions and the broader economic landscape. Pento criticized the Fed's move to cut rates by 25 basis points and initiate $40 billion in U.S. Treasury purchases, arguing that these actions are unjustified given the current economic conditions, which include record-high asset bubbles and a prolonged miss of the inflation target. He characterized the Fed's actions as "monetary malfeasance" and expressed concern about the long-term impacts on the middle class, who have been struggling with affordability issues for years. Pento highlighted the dangers of the Fed's interventions, which he believes have exacerbated wealth disparities and created an unsustainable economic environment. He warned that the current economic setup, characterized by excessive debt and asset bubbles, could lead to a catastrophic event rather than a minor economic tremor. Pento also discussed the potential for a liquidity crunch, which could cause a significant market correction, and the possibility of a deflationary event or a credit crisis. Regarding Bitcoin and other cryptocurrencies, Pento expressed skepticism about their long-term value, viewing them as speculative assets with limited utility. However, he acknowledged that liquidity from the Fed's actions could support short-term price increases in cryptocurrencies. Pento also touched on the global trend of central banks accumulating gold reserves, viewing it as a sign of diminishing confidence in the U.S. dollar as the world's reserve currency. Pento's inflation-deflation economic cycle model indicated stress in liquidity markets, leading him to reduce his equity exposure. He emphasized the importance of being cautious and prepared for potential market disruptions, suggesting that investors should consider holding a core position in physical gold and be ready to adjust their portfolios based on economic conditions. He also warned about the risks of a chaotic bond market and the potential for a significant economic event in the near future.
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    33 分
  • Jesse Felder: The Frankenstein of Financial Bubbles

    Jesse Felder: The Frankenstein of Financial Bubbles
    2025/12/10
    Tom Bodrovics interviews Jesse Felder, the founder, editor, and publisher of The Felder Report, to discuss the current market dynamics and investment strategies. Felder highlights the unusual correlation between stocks and gold, noting that while they typically move inversely, they have been moving together recently. This is attributed to a transitional period where the market is shifting from favoring financial assets to favoring real assets like gold and commodities. Felder suggests that gold's performance indicates a potential struggle for financial assets in the future. The discussion also covers the potential impact of a market correction, comparing it to the dot-com crash. Felder argues that a significant correction could have a more profound negative wealth effect due to the larger size of the equity market relative to the economy. He also warns about the risks of a corporate earnings bubble, driven by massive deficit spending, which could lead to a prolonged period of stagnant earnings growth. Felder expresses concerns about the AI bubble, noting that the massive investment in AI technologies and data centers could lead to oversupply and underperformance. He believes that the energy sector, particularly oil and gas exploration and production, could be a good counterbalance to the tech-heavy market, as it is relatively uncorrelated with the broader market and has been starved of capital for years. The conversation also touches on the challenges faced by the Federal Reserve in managing inflation and supporting the economy. Felder argues that the Fed's focus on wealth effects and low-interest rates has created risks, and that a future recession could lead to a fiscal debt crisis. He also discusses the potential impact of a Trump-led Fed, suggesting that it could lead to a replay of the 1970s stagflation. Felder shares his investment approach, which involves looking at insider activity and using ETFs for diversification. He believes that insider selling has been a strong indicator of economic weakness and that investors should consider increasing their exposure to real assets to protect against potential market downturns.
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    52 分
  • Martin Armstrong: Europe isn’t Going to Survive

    Martin Armstrong: Europe isn’t Going to Survive
    2025/12/05
    During the podcast, host Tom Bodrovics interviews Martin Armstrong, CEO and Chairman of Armstrong Economics Ltd., to discuss the geopolitical and economic landscape, with a focus on the Ukraine conflict and broader global dynamics. Armstrong argues that the mainstream narrative around Ukraine is misleading, driven by propaganda rather than facts. He suggests that the West, particularly NATO, has been using Ukraine as a pawn to weaken Russia, a strategy reminiscent of Cold War tactics. Armstrong criticizes the portrayal of Russia as an aggressor, asserting that Russia has no interest in invading Europe and that the current conflict is more about weakening Russia than about Ukraine itself. He also highlights the internal political struggles within Russia, including the attempted coup against Yeltsin and the rise of Putin, who has been a target of Western neoconservative elements. Armstrong discusses the potential for a peace deal, emphasizing that the real enemy is the EU, not Russia, and that the EU's economic instability is a significant factor in the ongoing conflict. He also touches on the broader geopolitical implications, including the potential for increased civil unrest and international war, which he correlates with economic decline. Armstrong also addresses the role of the Federal Reserve, arguing that its original design was brilliant but has been corrupted over time, leading to policies that stimulate government spending rather than the domestic economy. He predicts more volatility, rising civil unrest, and increasing authoritarianism in the near future. Armstrong also discusses the implications of the tariffs imposed by the Trump administration, suggesting that they may be unconstitutional and could damage Trump's credibility if found so by the Supreme Court. The conversation also touches on the potential for conflict in Venezuela, which Armstrong sees as more about energy reserves than drugs, and the broader geopolitical tactics at play.
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    1 時間 13 分