Palisades Gold Radio

Stijn Schmitz welcomes back Colonel Douglas Macgregor to the show. Mr. Macgregor is a retired U.S. Army Colonel & Decorated Combat Veteran. Macgregor opens with a stark assessment that the global energy structure is being destroyed, warning that the situation will worsen significantly. He dismisses the notion of an imminent diplomatic deal with Iran, stating that trust has evaporated and Iran now holds the strategic initiative, effectively controlling oil traffic in the Strait of Hormuz. He estimates that only a fraction of normal oil shipments are moving, with tankers forced to pay tolls to Iran, while simultaneous U.S. efforts to punish compliance have made insurance impossible. The disruption extends to the Red Sea, where attacks on infrastructure have halted Saudi oil shipments to Europe, potentially removing 35% of the world’s oil from the market. This energy shock is only beginning to be felt in Europe and has prompted discussions in the U.S. about banning diesel exports, a move Macgregor sees as indicative of the crisis’s severity.

The conversation expands to the broader geopolitical and financial implications. Macgregor argues that the petrodollar system is effectively dead, with the U.S. waging war to restore dominance, particularly against Iranian resistance. He criticizes the American tendency to project its own mindset onto nations like China and Russia, leading to strategic miscalculations. He warns that President Trump’s rhetoric suggests a dangerous escalation, potentially including nuclear options, which would finish off the global energy structure.

Macgregor sees the markets as grossly underestimating the potential for complete disaster, making gold an essential investment. He notes that central banks continue to stockpile gold and that the BRICS nations are actively building parallel financial structures to circumvent the dollar, a trend forced by U.S. sanctions. He concludes that the West, particularly the U.S., faces a period of extreme internal turmoil, driven by an energy crisis, political corruption, and a public insulated from the consequences of endless wars.

Guest Links:

Website: https://douglasmacgregor.com

X: https://x.com/DougAMacgregor

Substack: https://substack.com/@coloneldoug

YouTube: https://www.youtube.com/@macgregorwarriordiplomacy

Articles: https://breakingdefense.com/author/doug-macgregor/

Douglas Macgregor is a decorated combat veteran, an author of five books, a PhD, and a defense and foreign policy consultant.

Macgregor was commissioned in the Regular Army in 1976 after 1 year at VMI and 4 years at West Point. In 2004, Macgregor retired with the rank of Colonel. In 2020, the President appointed Macgregor to serve as Senior Advisor to the Secretary of Defense, a post he held until President Trump left office. He holds an MA in comparative politics and a PhD in international relations from the University of Virginia.

Macgregor is widely known inside the U.S., Europe, Israel, Russia, China and Korea for both his leadership in the Battle of 73 Easting, the U.S. Army’s largest tank battle since World War II, and for his ground breaking books on military transformation: Breaking the Phalanx (Praeger, 1997) and Transformation under Fire (Praeger, 2003). Macgregor’s recommendations for change in Force Design and “integrated all arms-all effects” operations have profoundly influenced force development in Israel, Russia and China. In 2010, Macgregor traveled to Seoul, Korea to advise the ROK Ministry of Defense on force design. In 2019, Transformation under Fire was selected by Lt. Gen. Aviv Kohavi, Chief of the Israeli Defense Force (IDF), as the intellectual basis for IDF transformation. His fifth book, Margin of Victory: Five Battles that Changed the Face of Modern War from Naval Institute Press is available in Chinese, as well as, English and will soon appear in Hebrew.

In 28 years of service Macgregor taught in the Department of Social Sciences at West Point, commanded the 1st Squadron, 4th Cavalry, and served as the Director of the Joint Operations Center at SHAPE during the 1999 Kosovo Air Campaign for which he was awarded the Defense Superior Service medal. In January 2002, at Secretary of Defense Donald Rumsfeld’s insistence the USCENTCOM Commander listened to Colonel Macgregor’s concept for the offensive to seize Baghdad. The plan was largely adopted, but assumed no occupation of Iraq by U.S. Forces.

Macgregor has also testified as an expert witness before the Senate and House Armed Services Committees and appeared as a defense analyst on Fox News, CNN, BBC, Sky News and public radio. He is fluent in German.

Stijn Schmitz welcomes back Strategic Investor and Co-Founder of Bastion Asset Management, Michael Gentile to the show. Michael maintains a strongly bullish long-term outlook on gold, viewing the recent price consolidation from its highs as a normal pullback within a broader bull market. He emphasizes that his conviction is backed by significant personal capital deployment, having made his largest-ever quarterly allocation to junior mining companies during the recent downturn. He argues that the fundamental drivers for gold remain firmly intact, pointing to unsustainable global debt levels and a revolt in the bond markets as investors increasingly seek hard assets over devaluing paper currencies. He anticipates that central banks will eventually be forced to intervene to suppress bond yields, an action he believes will serve as turbo fuel for gold prices.

Gentile sees a historic opportunity in junior mining equities, which he believes are dramatically undervalued relative to the gold price. He explains that while all-in mining margins have expanded massively, the market is still pricing many in-ground ounces at the same low levels seen when margins were a fraction of what they are today. Recent high-profile acquisitions at valuations of five to six hundred dollars per ounce validate his thesis that a significant re-rating is possible for quality assets currently trading at a steep discount.

His investment strategy focuses on identifying assets with the scale, grade, and infrastructure to become actual mines, thinking like a major mining company would. He prioritizes projects that are already economic at lower gold prices and possess substantial exploration upside. For portfolio management, he limits initial positions to one percent of his net worth, aiming for a significant ownership stake, and only allocates follow-on capital to companies that continue to execute and advance toward becoming a mine. He also highlights his efforts to create synergies by marketing his portfolio companies collectively to investors.

Timestamps:

00:00:00 – Introduction

00:00:46 – Gold Price Consolidation

00:03:20 – Recent Mining Investments

00:06:43 – Bond Markets Driving Gold

00:11:25 – Central Bank Gold Buying

00:14:30 – Money Supply Acceleration

00:18:15 – Global Debt Problems

00:20:40 – Gold Miners Leverage Opportunity

00:26:24 – Company Selection Criteria

00:30:16 – Portfolio Management Strategy

00:36:00 – Metal Prices & Margins

00:39:24 – Commodities and Derisking

00:42:24 – Reallocating Capital

00:48:35 – European Roadshow Details

Guest Links:

LinkedIn: https://www.linkedin.com/in/michael-gentile-01028552

Website: https://www.bastion-am.com/

Mining & Metals European Roadshow: https://saturdaymorningmining.subscribepage.io/

Michael Gentile, CFA is Founding Partner & Senior Portfolio Manager at Bastion Asset Management. Before founding BAM, Michael was Vice President and Senior Portfolio Manager at Formula Growth Ltd for over 17 years. Michael co-managed the FG Alpha Fund (US SMid equity market neutral) between 2012 and 2018, co-managed the FG Focus Fund (US SMid long short strategy) between 2014 and 2018. Since leaving FG in 2018, Michael has been very successful investing in the gold sector also acting as Strategic Advisor and Director for several companies in the natural resource sector. Michael graduated with Great Distinction from the John Molson School of Business (Concordia University) with a Bachelor of Commerce (Finance) and received the Calvin Potter Fellowship from Concordia’s Kenneth Woods Portfolio Management Program. He also holds the Chartered Financial Analyst designation (CFA)

Stijn Schmitz welcomes back Economist and Senior Fellow from the Mises Institute, Dr. Mark Thornton. He paints a dire picture of the global economy, arguing that widespread socialist policies are driving governments to extreme borrowing, money printing, and protectionism. He points to the trade war and real conflicts in Ukraine and the Middle East as direct consequences, which have disrupted diesel, crude oil, and fertilizer production. This creates a global pinch on agriculture and mining, threatening food supplies and crop yields, while strategic energy reserves are depleted, leaving economies vulnerable. The resulting higher fuel and food prices are squeezing consumers worldwide, whose wages are failing to keep pace with inflation, leading to a systematic harm of the working class while asset bubbles benefit the wealthy.

The discussion turns to the unsustainable sovereign debt bubble, with Dr. Thornton noting that when government debt exceeds 100% of GDP, economies become trapped, risking either a deflationary depression or a hyperinflationary collapse. He sees the current fiat money system as steering toward the latter, especially if central banks are forced to monetize debt to suppress rising yields. Unlike the post-World War II era, when the U.S. grew out of its debt through demobilization and global demand, today’s conditions make a similar escape unlikely without drastic government restructuring.

On a more constructive note, Dr. Thornton is bullish on gold and silver, citing fundamental support from ongoing central bank purchases and restricted mining supply. He anticipates that once short-term speculators re-enter the market, precious metals and mining stocks could see a significant upswing. He also suggests the possibility of a government-led gold revaluation as a short-term political tactic, though it would not solve long-term structural problems.

Timestamps:

00:00:00 – Introduction

00:01:12 – Socialist Policies Driving Crisis

00:04:36 – Middle East Energy Disruptions

00:08:18 – Global Supply Chain Pressures

00:12:40 – Food Supply and Agriculture Risks

00:18:00 – Consumer Squeeze and Debt

00:23:50 – Government Debt Bubble Analysis

00:28:36 – Hyperinflation Risks Ahead

00:33:55 – Post-WWII Debt Lessons

00:39:23 – Gold Bull Market Drivers

00:49:33 – US Gov’t and Rising Gold

00:53:08 – Mises Institute Wrap Up

Guest Links:
Website: https://mises.org
X: https://x.com/DrMarkThornton
E-Mail: mailto:mthornton@mises.org
YouTube: https://www.youtube.com/results?search_query=mark+thornton+minor+issues

Dr. Mark Thornton is a Senior Fellow at the Mises Institute and formerly held the Peterson-Luddy Chair in Austrian Economics. He hosts the podcasts Minor Issues and Unanimity and is Book Review Editor of the Quarterly Journal of Austrian Economics. His books include The Economics of Prohibition, Tariffs, Blockades, and Inflation, The Bastiat Collection, and The Skyscraper Curse.

He has served on multiple editorial boards, taught economics at several universities, and worked as Assistant Superintendent of Banking and adviser to Alabama Governor Fob James. He holds degrees from St. Bonaventure University and Auburn University and has debated the “War on Drugs” at the Oxford Union.

Dr. Thornton has been featured in major outlets such as The Economist, Forbes, New York Times, Wall Street Journal, and USA Today, along with numerous international and regional newspapers. His commentary appears regularly on the Mises Institute’s platforms and on programs such as Boom-Bust, the Tom Woods Show, and the Scott Horton Show.

Stijn Schmitz welcomes Doomberg to the show. Doomberg is the Head Writer For The Doomberg Team and the Creator of the Doomberg Substack. Doomberg analyzes the escalating geopolitical risks following the significant damage to Saudi Arabia’s East-West pipeline, a critical artery for crude oil exports. He argues that while the initial closure of the Strait of Hormuz did not cause the expected price shock, the pipeline attack pushes an already stressed system into a red zone, with Brent crude nearing demand destruction levels. The core risk, however, extends beyond oil flows.

Doomberg describes Arab Gulf states as metastable constructs propped up by the illusion of U.S. military hegemony. The rapid territorial gains by the Houthis in Yemen represent a potential catalyst for a sudden collapse of this perceived stability, where the common knowledge that a regime is weak can trigger rapid, systemic change. He suggests the possibility of a Saudi leadership crisis, such as MBS fleeing, is a low-probability but enormously consequential event that markets may be underpricing.

The discussion shifts to the war in Ukraine, where Doomberg predicts a devastating Russian strike on energy infrastructure, citing public Russian military orders and U.S. intelligence warnings. He notes that attacks on refineries paradoxically cap crude oil prices while causing diesel crack spreads to explode, as refineries are the sole customers for crude. This dynamic, combined with refineries running at dangerous capacity, creates acute tightness in refined products.

Doomberg emphasizes that in conflicts, victory often belongs to the side with higher pain tolerance, and he assesses that Iran and the Houthis can endure far more hardship than Western consumers. He warns that the convergence of these crises in the Middle East and Ukraine, alongside reckless rhetoric from NATO-aligned nations, creates a genuine risk of uncontrollable global escalation.

Timestamps:

00:00:00 – Introduction

00:00:54 – Saudi Pipeline Attack Analysis

00:03:12 – Metastable Gulf States Risks

00:09:53 – Houthi Advances and Maps

00:20:40 – Russia Ukraine Energy Strikes

00:27:48 – Pain Tolerance in Wars

00:34:09 – Refineries and Crack Spreads

00:43:57 – China Oil Demand Shifts

00:46:10 – Alberta Natural Gas Outlook

00:47:17 – The Doomberg Substack

Guest Links:

Substack: https://doomberg.substack.com

X: https://x.com/DoombergT

Website: https://doomberg.com

Doomberg is the anonymous publishing arm of a bespoke consulting firm providing advisory services to family offices and c-suite executives. Its principals apply their decades of experience across heavy industry, private equity, and finance to deliver innovative thinking and clarity to complex problems.

Stijn Schmitz welcomes back Francis Hunt “The Market Sniper” to the show. Francis opens by declaring that a major reset is underway, urging listeners to aggressively accumulate gold and silver while nations like South Korea and Norway dump US treasuries and increase gold holdings. He sees this as part of a broader loss of faith in American assets and the dollar, driven by unsustainable debt, eroding rule of law, and diminishing global trust. Hunt believes the US is in the final injury time of its economic dominance, with a major crisis likely within three years, leading to a severe contraction in asset values, credit, and living standards. Technically, Hunt identifies a re-engagement of precious metals, noting that gold and silver have broken out of falling wedge continuation patterns and are resuming their uptrends. He points to silver showing relative strength and expects both metals to trade higher into year-end, though not yet reaching extreme targets.

His macro technical structure for silver targets $330 and eventually four-digit prices, while gold is also set for substantial gains. He views the current correction as a healthy pause before the next major leg up. Hunt frames gold as the “king” of anti-fiat assets, with silver and miners following. He warns that the coming economic collapse will be global but centered on the West, triggering a parabolic rise in precious metals as fiat currencies debase. He advises heavy allocation to physical metals, far beyond typical portfolio percentages, as protection against systemic risks including potential capital controls, digital currency mandates, and wealth confiscation through unrealized capital gains taxes.

Hunt also sees opportunity in precious metals miners and emphasizes the importance of geographic diversification away from Western epicenters. He concludes that building and preserving wealth through this period is not greed but a necessity for survival and maintaining quality of life.

Timestamps:

00:00:00 – Introduction

00:01:10 – Current Market Trends Radar

00:03:30 – Precious Metals Charts Analysis

00:09:50 – Gold Silver Ratio Discussion

00:14:50 – Macro Empire Collapse Themes

00:24:02 – Financial Crisis Timeline

00:34:20 – Gold Remonetization Possibilities

00:38:27 – Precious Metals Miners Outlook

00:42:07 – Rerating of Precious Metals

00:44:46 – Global Economic Contagion

00:47:28 – Wealth Preservation Strategies

00:53:53 – The Market Sniper

Guest Links:

X: https://x.com/themarketsniper

X: https://x.com/thecryptosniper

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.