Palisades Gold Radio

Simon Hunt, a financial and geopolitical analyst, delivers a stark warning about an imminent escalation in the Middle East, arguing that the “House of Saud” is at risk of falling. He details a secret meeting in Tehran between Saudi Arabia’s defense minister and Iran’s security council, suggesting a major realignment. Hunt contends that the Houthi war on Saudi Arabia is a separate conflict that is successfully damaging oil infrastructure, and that a full-scale attack on Iran would lead to the closure of the Strait of Hormuz, crippling global energy supplies. He predicts a period of at least three years of extremely high prices for diesel, gasoline, and fertilizers, culminating in a major financial crash between 2030 and 2032.

The conversation frames the current conflicts as a single, coordinated war against the US-led order, orchestrated by Beijing and Moscow. Hunt argues that America’s long-term strategy to control global resources is failing, as Iran is fully backed by Russia and China. He suggests we are witnessing the end of the American empire and the birth of a multipolar world, with a potential for a major war between 2028 and 2032. For investors, he advises a nimble, short-term approach, predicting a recession in 2027 followed by a resurgence of double-digit inflation by 2029.

Hunt’s key actionable takeaways are to treat gold as a security and liquidity hedge, not a speculative trade, and to watch Beijing rather than Washington for the true revaluation of the metal. He highlights that Chinese households have accumulated over 28,000 tonnes of physical gold, which could revalue their economy by $20 trillion. Ultimately, he recommends focusing on short-term market cycles and avoiding long-term investment commitments in the face of extreme volatility and geopolitical risk.

Timestamps:
00:00:00 – Introduction
00:01:34 – Iran War Restart Analysis
00:03:11 – Houthi War on Saudi Arabia
00:06:42 – Strait of Hormuz Closure Threat
00:09:32 – Second Strike Odds & US Risks
00:13:37 – Energy War & Relative Power
00:18:52 – 3-5 Year High Energy Prices
00:22:54 – Global Fuel Shortages Loom
00:25:48 – Elections & War Timing
00:27:17 – Beijing & Moscow Pulling Strings
00:30:58 – End of Empire & Multipolar World
00:33:10 – Resource Wars & Demographics
00:36:28 – 2027 Recession & Fed Strategy
00:40:41 – Gold as Security & China’s Hoard

Links

mailto:simon@shss.com

https://simon-hunt.com/

https://www.theinstitutionalstrategist.com/products-and-services/frontline-china/

About the Guest

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.

Michael Every argues that the current geopolitical landscape is defined by a single, multi-front conflict between the US and China, with the wars in the Middle East and Ukraine serving as key battlegrounds. He predicts a re-escalation of the US-Iran conflict immediately after the US midterm elections, viewing it as a deliberate US strategy to destabilize global energy and commodity supply chains. The core objective, he suggests, is not necessarily to seize resources, but to create a “two-speed” world where the US and its allies have cheaper, more reliable access to critical inputs like oil, LNG, and food, while adversaries like China face far higher costs and logistical hurdles.

A surprising data point Every highlights is the massive divergence in global oil prices. While Brent crude futures may sit around $115, the actual cost of a barrel of Middle Eastern crude delivered to Shanghai can be as high as $150 due to war risk insurance, longer shipping routes around Africa, and a shortage of tankers. In contrast, Canadian crude delivered to the US via pipeline costs roughly $70. This deliberate fragmentation of commodity markets, he argues, is a powerful, underappreciated tool of US statecraft, mirroring China’s dominance in rare earths. He also notes that shipping a barrel from the Persian Gulf to Asia now costs $20-30, up from a normal $2-3, illustrating the extreme tightness in refined product markets.

The key actionable takeaway for investors and businesses is to prepare for a world of “higher for longer” inflation and interest rates, driven by the expensive process of rearmament, reindustrialization, and supply chain restructuring. Every advises against assuming a return to the free-flowing, low-cost global economy of the past. He is skeptical of a return to a gold standard, arguing that governments will need “soft money” to finance this expensive geopolitical competition. Instead, he recommends focusing on resilience, diversification, and understanding that physical resources and supply chain control are the ultimate sources of power in this new era.

Timestamps

00:00:00 – Hormuz Attacks Spike Shipping Costs
00:00:44 – War with Iran: Imminent Restart?
00:03:48 – Why Not Preemptive Strike?
00:05:09 – Conflict Drivers: US-China Cold War
00:09:21 – US-China Power Dynamics
00:12:15 – Demographics: Least Dirty Shirt
00:16:44 – Ukraine: Another Front of Same War
00:20:41 – Resources as Power Leverage
00:23:29 – Iran War: Resource Control or Weaponization?
00:26:31 – Energy Tightness and Price Disparities
00:31:51 – US Leverage: Oil, LNG, Copper, Agriculture
00:35:02 – Fertilizers and Sulfur Supply Gaps
00:36:26 – Escalation: Air Campaign or Ground Troops?
00:38:29 – Targeting Energy and Desalination Plants
00:40:02 – Merging Wars: Ukraine and Middle East
00:43:24 – East Asia Flashpoints and Tail Risks
00:45:25 – Implications for Life, Business, and Investing
00:50:00 – Gold’s Role in a Fragmented World
00:55:50 – Follow Michael Every’s Work

Links

https://www.rabobank.com/

https://hk.linkedin.com/pub/michael-every/14/832/389

https://x.com/TheMichaelEvery

About the Guest

Michael Every is a Global Strategist at Rabobank. He analyses major financial developments and contributes to the bank’s various economic research publications for internal and external customers and to the media.

Michael has over two decades of experience working as an Economist and Strategist. Before Rabobank, he was a Director at Silk Road Associates in Bangkok, Senior Economist and Fixed Income Strategist at the Royal Bank of Canada in both London and Sydney, and an Economist for Dun & Bradstreet in London.

Michael holds a Masters degree in Economics (with distinction) from University College London and speaks a smattering of languages, including Thai.

Chris Vermeulen, Chief Market Strategist at TheTechnicalTraders.com, joins Palisades Gold Radio to deliver a critical technical analysis of the current market landscape. He issues a stark warning: gold and silver have officially entered a bear market, with charts pointing to significant further downside. Vermeulen identifies key Fibonacci retracement targets, suggesting gold could fall to the $3,100–$3,300 range and silver toward $39 per ounce. He advises investors to remain patient and wait for these technical bottoms before re-entering, emphasizing that precious metals should be treated as an insurance policy rather than a momentum trade.

The conversation pivots to the broader equity markets, where Vermeulen highlights a critical juncture. He notes that while a potential 50% rally in semiconductors is possible, the on-balance volume reveals massive institutional distribution, signaling a likely sharp break to the downside if current support fails. He connects the AI stock bubble directly to the escalating debt bubble, warning that leveraged margin buying is propping up the market. Vermeulen advocates for a disciplined approach: holding cash as a powerful strategic position, waiting for clear directional signals, and focusing on high-probability, low-volatility trades that compound over time. He also provides insights on oil, uranium, and copper, urging caution in crowded trades.

Timestamps:
00:00:00 – Gold and Silver Enter Bear Market
00:01:12 – Gold’s Downside Targets and Support
00:04:27 – Fibonacci Retracement Levels for Gold
00:06:47 – Long-Term Bull Case and Entry Strategy
00:09:50 – War and Gold Correlation Explained
00:11:42 – Money Rotation from Tech to Broad Market
00:12:55 – Semiconductor Chart and Market Signals
00:16:32 – AI Bubble Tied to Debt Bubble
00:20:20 – Oil Price Targets and Middle East Risk
00:22:29 – Energy Stocks vs. Crude Oil
00:24:12 – Uranium Divergence and Outlook
00:27:08 – Silver’s Downside and Support Levels
00:29:48 – Platinum and Palladium as Leading Indicators
00:31:26 – Power of Cash in Bear Markets
00:35:44 – Technical Traders and Trading Philosophy

Guest Links:
Website: https://thetechnicaltraders.com/
X: https://x.com/TheTechTraders

Guest Biography:
Chris Vermeulen is the Founder & Chief Investment Officer of The Technical Traders and the visionary mind behind Asset Revesting. In his book Asset Revesting – How to Exclusively Hold Assets Rising in Value, Profit During Bear Markets, and Continue Building Wealth in Retirement, he lays out this investment framework.

Chris launched his financial career at 16, parlaying his knack for trading and risk management into funding his final year of college, where he earned a business diploma in operations management. By his twenties, he had achieved financial independence as a full-time entrepreneur and trader. After a setback—blowing up a trading account—Chris dedicated himself to treating trading as a business, completing the Trading Strategy Mastery and Trading Is Your Business courses.

A technical analysis expert, he devises systematic methods to spot market opportunities and control portfolio risk, rejecting traditional buy-and-hold approaches that cling to depreciating assets. His efficient asset allocation models balance short- and long-term strategies to minimize drawdowns and consistently outperform benchmarks. Those seeking reliable capital preservation and growth turn to his proven techniques.

Brett Rentmeester, founder of Windrock Wealth Management, argues that we are entering a “Fourth Turning”—a roughly 100-year crisis cycle in American history, following the American Revolution, Civil War, and Great Depression/WWII. He identifies four major tailwinds that powered the last 40 years of conventional investing (falling inflation, falling interest rates, rising equity multiples, and massive debt accumulation) as now reversing into headwinds. With US debt at $40 trillion, interest payments consuming 28% of tax revenue, and the 10-year Treasury at 5.1%, Rentmeester warns of a “death by a thousand cuts” rather than an outright default—characterized by financial repression, higher inflation, and eroding purchasing power.

Rentmeester highlights a critical duality: while the old system cracks, the US retains advantages in technology (AI, robotics, energy abundance) and dollar infrastructure (stablecoins, treasury-backed crypto rails). He recommends a playbook shift away from the traditional 60/40 stock-bond portfolio toward hard assets—precious metals (gold, silver), energy infrastructure, strategic metals, and defense technology. He notes gold’s potential for “much higher” revaluation if governments are forced to back fiat currencies with bullion, citing Judy Shelton’s advisory role to the Fed and central bank accumulation as evidence. Key data points include the CAPE ratio at 40.5 (near dot-com peak), healthcare insurance costs rising 22% annually versus government-reported 2.5% CPI, and the average car payment at $787/month.

Investors should expect higher inflation and interest rates over the next decade, making bonds selectively risky and equity index returns likely to disappoint. Rentmeester advocates owning physical precious metals held outside the banking system, adding mining equities and tactical paper contracts as part of a three-pronged metals strategy, and maintaining exposure to energy infrastructure, natural gas, and strategic metals (copper, uranium, rare earths) that benefit from reshoring and geopolitical tensions. He also suggests reducing exposure to Europe and regions vulnerable to debt crises while positioning for continued defense spending growth.

Timestamps

00:00:00 – Cycle Change and Fourth Turning
00:01:26 – Historical Crisis Cycles Explained
00:03:22 – Drivers of the 100-Year Cycle
00:04:14 – Tailwinds Turning to Headwinds
00:08:37 – Debt Spiral and Fiat Crisis
00:10:11 – Equity Multiple Expansion Risks
00:12:38 – Approaching Debt Spiral Danger
00:13:44 – Failing Institutions and Trust
00:15:58 – Inflation Distortions and War Impact
00:19:17 – Global Debt Problem Scope
00:21:06 – US Advantages and Tech Hope
00:24:23 – Government Tools to Prolong Dollar
00:27:18 – Consequences for Next 50 Years
00:30:16 – Wealth Management Geopolitical Strategy
00:31:49 – Commodities and Resource Sovereignty
00:36:32 – Energy Complex and Oil Opportunities
00:39:23 – Gold as Real Return Hedge
00:42:51 – Government Gold Accumulation
00:44:39 – Mining Stocks Leverage Potential
00:46:03 – Consolidation Buying Opportunity
00:48:03 – Critical Metals and Defense
00:49:43 – Windrock Wealth Management Overview

Links

https://windrockwealth.com/

https://www.linkedin.com/in/brettrentmeester/

About the Guest

Brett Rentmeester founded WindRock Wealth Management to bring tailored investment solutions to investors seeking an edge in an increasingly uncertain world. Mr. Rentmeester is a veteran and entrepreneur in the investment business. Through his career, including as a co-founder of Altair Advisers and manager at Arthur Andersen, he was a trusted confidant for business owners, entrepreneurs and family offices.

His entrepreneurial spirit led him to create and build a number of successful companies in the financial services industry through partnership with the Jaggi Family Office, where he serves as the Chief Investment Officer. Throughout his career, he has focused on the importance of strong relationships, strategic thinking, and an expertise in alternative investments.

Mr. Rentmeester’s media appearances include appearances on the PBS Nightly Business Report program, the Chicago Tribune, and the World Presidents’ Organization. He graduated magna cum laude from the University of Arizona with a degree in Finance and earned his MBA from Northwestern’s Kellogg Graduate School of Management. He has been a multiple-year recipient of the Chicago Magazine Five Star Wealth Award, is a Chartered Financial Analyst charterholder (CFA®) and has the Chartered Alternative Investment Analyst designation (CAIA®).

Check out the Palisades Newsletter, here:
https://palisades.ca/blog/the-hard-road-to-dasa-palisades-largest-uranium-position-secures-us414m-loan-from-u-s-government/

Stijn Schmitz welcomes Stephen G. Roman to the show. Stephen is the Chairman, President and CEO of Global Atomic. The discussion centers on Global Atomic’s DASA uranium project in Niger, which stands as the highest-grade uranium deposit in Africa. Stephen recounts his lifelong involvement in uranium, from his father’s discovery in Elliot Lake to incorporating Global Atomic in 2005 and securing permits in Niger’s Tim Mersoï Basin.

The DASA deposit was discovered in 2010, but development was delayed by the Fukushima disaster and a decade-long uranium downturn. Despite these challenges, the company advanced feasibility studies, obtained a mining permit in 2021, and began underground mining in 2022, leveraging the experienced workforce from the shuttered Cominak mine. A pivotal moment came with the July 2023 coup in Niger, which caused most international operators to lose their uranium assets. Global Atomic retained its permits because it had strictly followed Niger’s mining code, having commenced mine construction within the required timeframe, unlike other companies.

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The coup caused a two-year delay, but the company maintained its team and restarted development once borders reopened. Stephen details the recent approval of a $414 million loan facility from the U.S. Development Finance Corporation (DFC), which required re-educating new board members after the U.S. election. Remaining conditions include securing a shipping port and harmonizing the mining permit tenure with the loan. Options include ports in Algeria, Nigeria, or Benin, with logistics being actively negotiated.

Stephen emphasizes strong government relations, noting meetings with Niger’s president and ministers, who support the project for its employment and economic benefits. The government holds a 20% stake in the operating company, and Stephen expects this to remain steady under the existing mineral convention. DASA is projected to produce 4–5 million pounds of uranium annually, with potential to double output as market conditions allow. The company recently raised $57 million and is exploring additional bridge financing. Key upcoming catalysts include finalizing DFC conditions, first drawdown, and construction milestones like the process plant steel erection. The DFC backing is also attracting interest from U.S. utilities for off-take agreements, signaling growing confidence in the project.

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

Stephen G. Roman is the founder, Chairman, President and CEO of Global Atomic Corporation, and was previously the President & CEO of TSX listed Harte Gold Corp. Mr. Roman has successfully identified, financed, developed, and brought into commercial production many mining and oil and gas projects in the past 40 years and notably he was the founder, Co-Chairman and Director of Gold Eagle Mines Ltd., that was acquired by Goldcorp Inc. for $1.5 Billion in 2008.

Previously he was a Policy Advisor to the Minister of National Defence, Canada, spearheaded the privatization of two major petrochemical companies in Central Europe, was Director and VP Exploration of Denison Mines Limited and was instrumental in the initial creation and leadership of Gabriel Resources, Belo Sun Mining, Exall Energy, Silvermet and Polar Star Mining among others. Mr. Roman received the “Bill Dennis Award” for Canadian Mineral Discovery from the Prospectors & Developers Association of Canada (PDAC) in March, 2016.