Palisades Gold Radio

Stijn Schmitz welcomes Josh Young to the show. Josh Young is Chief Investment Officer & Founder, Bison Interests. The interview explores the current landscape of the global energy market, focusing on geopolitical risks, supply and demand dynamics, and investment opportunities in the oil and gas sector. Young provides a comprehensive analysis of potential geopolitical tensions, particularly surrounding Iran and the Middle East. He suggests that the current situation presents significant risks to global oil supply, with potential disruptions ranging from 1 to 20 million barrels per day. The geopolitical uncertainty is largely underappreciated by the market, creating potential opportunities for investors who understand these dynamics.

On the supply side, Josh highlights critical challenges in oil production. He notes that companies like Continental Resources are reducing drilling activities at current price levels, indicating that sustainable oil production may require prices in the $80-$90 range. The industry is experiencing a significant downcycle in both offshore and onshore exploration and development, with exploration success rates declining and existing reserves being depleted. Demand dynamics appear more robust than many analysts expect. Young argues that government stimulus, particularly in an election year, and emerging market growth could support oil consumption. He suggests that a potential economic slowdown might not necessarily reduce oil demand, as increased return-to-office trends could offset potential consumption reductions.

Regarding investment strategies, Young cautions against large integrated oil companies trading at high valuations. Instead, he recommends smaller producers with clean balance sheets, debt reduction potential, and attractive valuation metrics. He emphasizes the importance of companies that can pay down debt, buy back shares, and potentially offer high dividends. Young also discusses his Bison Insights substack, where he shares investment ideas in the energy sector. He believes the current market presents unique opportunities, drawing parallels to previous commodity cycles and highlighting the potential for significant returns in carefully selected energy investments.

Timestamps:

00:00:00 – Introduction

00:01:18 – Guest Welcome and Recap

00:03:01 – Silver Prediction Success

00:05:25 – Oil Geopolitical Risks

00:10:45 – Iran Production Impacts

00:16:34 – Risk Pricing Discussion

00:18:56 – China Oil Stockpiling

00:26:53 – Supply Cost Curve

00:30:51 – Underinvestment Trends

00:36:30 – Demand Surge Analysis

00:42:04 – US Consumer Strength

00:51:51 – Investment Pitfalls

00:57:10 – Debt Paydown Strategies

01:01:05 – Concluding Thoughts

Guest Links:

Substack: https://bisoninsights.info

X: https://x.com/BisonInsights

Website: https://bisoninterests.com

Joshua Young has been professionally investing in publicly traded oil and gas securities for nearly two decades, achieving benchmark outperformance as Bison’s CIO. Josh possesses a deep understanding of the E&P business model and operating environment, with notable experience as Chairman of Canadian E&P company RMP Energy (rebranded as Ironbridge Resources). Under Josh’s leadership, the company achieved a successful turnaround, outperforming peers and ultimately being acquired at a 78% premium. Josh is the author of numerous articles on oil & gas investments and is a frequent guest speaker at various energy industry conferences.

Prior to Bison, Josh began his career as a management consultant for Fortune 500 companies and private equity firms. He later worked as an investment analyst for a private equity fund and served as an energy investment analyst at a multi-billion-dollar single-family office, which was nominated as Institutional Investor’s Single Family Office of the Year in 2008. Josh holds a B.S. in Economics with honors from the University of Chicago.

Stijn Schmitz welcomes Clive Thompson to the show. Clive Thompson is Retired Wealth Manager and Swiss Banker and, Host of the ‘Clive Thompson’ YouTube Channel. The episode centers on the current state of precious metals markets, with a particular focus on silver and gold. Thompson highlights a critical shift in the silver market, where industrial demand now exceeds mine supply. He explains that this dynamic is creating significant pressure on the market, with industrial consumers becoming increasingly concerned about potential silver shortages. The gap between physical and paper silver prices has widened dramatically, indicating underlying market tensions and potential supply chain disruptions.

Regarding investment strategies, Thompson advocates for a measured approach to precious metals. He recommends investors gradually accumulate physical silver and gold as a form of insurance against potential financial system instability. He emphasizes that these assets should be viewed as a protective measure rather than a short-term speculation opportunity. The conversation also explores broader economic trends, including rising government debt, central bank behaviors, and potential future monetary systems. Thompson suggests that the increasing global debt burden could lead to significant financial transformations, potentially including the introduction of central bank digital currencies (CBDCs) that might restrict financial freedoms.

On gold and mining stocks, Thompson sees significant potential. He explains that rising gold prices create leveraged profit opportunities for mining companies, with potential for substantial share price appreciation. He advises diversification within mining investments, recommending investors spread risk across different geographical regions and companies. Thompson’s insights are grounded in his extensive financial background, offering a nuanced perspective on precious metals as both an investment and a potential hedge against economic uncertainty. His approach is pragmatic, suggesting investors maintain a balanced portfolio while recognizing the potential volatility and systemic risks in the current financial landscape.

Timestamps:

00:00:00 – Introduction

00:01:03 – Silver Bull Run Fundamentals

00:02:15 – Supply Demand Gap Analysis

00:04:41 – Industrial Off-Take Agreements

00:06:07 – Silver Substitution Challenges

00:09:00 – Rising Investment Demand

00:10:39 – Physical Market Bifurcation

00:12:24 – COMEX Delivery Surge

00:18:48 – Future Price Potential

00:21:18 – Retail Investor Strategies

00:24:51 – Gold Portfolio Drivers

00:32:24 – Global Debt Unsustainability

00:34:08 – CBDC Rationing Scenarios

00:42:17 – Mining Stocks Leverage

00:51:39 – Concluding Thoughts

Guest Links:

Website: https://clivethompson.com/

YouTube: https://www.youtube.com/@clivethompson-jc9my/featured

Clive is a retired wealth manager and former managing director at UBP in Geneva, Switzerland.

Stijn Schmitz welcomes Gerald Celente to the show. Gerald Celente is Author, Founder, and Publisher of Trends Research Institute and Journal. The conversation delves into complex geopolitical and economic trends, with Celente offering a critical perspective on global politics, international conflicts, and economic dynamics. Celente provides a scathing critique of U.S. foreign policy, highlighting the disconnect between political rhetoric and actual actions, particularly focusing on leaders like Trump, Obama, and Biden. He argues that U.S. interventions in countries like Iran, Venezuela, and others are fundamentally driven by oil interests and geopolitical control rather than humanitarian concerns.

Celente extensively explores the shifting global economic landscape asserting that the 21st century will be the “Chinese century.” He points to China’s significant investments in infrastructure, education, and emerging technologies like AI, contrasting this with what he sees as America’s declining innovation and increasing focus on military spending.

Regarding economic trends, Celente predicts a potentially catastrophic economic scenario, which he terms the “greatest depression.” He emphasizes the critical role of precious metals, particularly gold and silver, as safe-haven assets during periods of geopolitical and economic uncertainty. Gerald highlights the massive U.S. national debt, potential digital currency implementations, and the ongoing erosion of the dollar’s global dominance. Celente is particularly critical of mainstream media, describing journalism as “dead” and advocating for comprehensive, multi-perspective reporting.

Guest Links:

Website: https://trendsjournal.com

X: https://x.com/@geraldcelente

Substack: https://trendsinthenews.substack.com

Gerald Celente is the Founder/Director of the Trends Research Institute and Publisher of the weekly Trends Journal magazine. He is the author of the highly acclaimed and best-selling books “Trend Tracking” and “Trends 2000” (Warner Books).

With a 43-year track record of identifying, tracking, and forecasting trends, Celente is world-renowned as today’s #1 Trend Forecaster. Celente has earned the reputation as a trusted name in trends for his many accurate forecasts; among them, the 1987 Stock Market crash, Dot com bust, “Gold Bull Run,” “Panic of ‘08,” the rise of organic foods, and the popularity of gourmet coffee long before Starbucks was a household name.

Celente, who developed the Globalnomic methodology to identify, track, forecast, and manage trends, is a political atheist. Unencumbered by political dogma, rigid ideology, or conventional wisdom, Celente, whose motto is “Think for Yourself,” observes and analyzes current events forming future trends for what they are – not for how he wants them to be.

A true American Patriot, Celente owns three pre-Revolutionary stone buildings on the most historic corner in America, where the seeds of Democracy were sown, Colonial Kingston, New York’s first Capitol.

Self-described as a “Warrior for the Prince of Peace,” Gerald Celente is also the Founder “Occupy Peace & Freedom,” a not-for-profit movement to honor the Constitution and Bill of Rights and restore Freedoms.

Stijn Schmitz welcomes Bob Moriarty to the show. Bob Moriarty is Author, Founder 321 Gold, and a Former Marine Fighter Pilot. The conversation delves into complex geopolitical dynamics, focusing on the current global tensions between the West’s debt-based system and the East’s resource-based system. Moriarty offers a critical perspective on recent global conflicts, suggesting that the United States and Israel are the most aggressive nations, with potentially catastrophic consequences.

Discussing Venezuela, Iran, and global tensions, Moriarty argues that these conflicts are not about oil or resources, but about maintaining Western economic dominance. He believes the current geopolitical landscape represents a fundamental shift, with the West’s debt-based system collapsing while Eastern nations like China, Russia, and Iran are becoming increasingly powerful. He emphasizes that these countries are not enemies of the West, but are simply defending their interests.

Moriarty is particularly critical of U.S. foreign policy, describing current leadership as potentially the worst in world history. He warns of a potential financial collapse, comparing the current economic situation to 1929, but “ten times worse.” He strongly advocates for a return to a gold or silver-backed monetary system as a solution to the impending economic crisis. On precious metals, Moriarty is bullish, believing silver and gold are critical protection during financial chaos.

He sees significant potential in these metals, noting their historical monetary importance and current industrial applications. He predicts a potential return to a gold or silver standard within the next decade. The discussion also touches on global conflicts, including potential tensions with Iran, the Ukraine-Russia war, and U.S. interventionist policies. Moriarty’s perspective is unequivocal: the United States risks significant losses by pursuing aggressive military and economic strategies. He argues that the world is witnessing a fundamental restructuring of global economic and political power, with the Western debt-based system facing inevitable collapse.

Timestamps:

00:00:00 – Introduction

00:01:05 – Venezuela Intervention Analysis

00:05:54 – Attack on China Motive

00:08:42 – Trump’s Warpath Netanyahu

00:10:01 – Iran Protests CIA Role

00:13:36 – Strait of Hormuz Risks

00:16:39 – Ukraine-Russia Conflict Insights

00:22:10 – Debt vs Resource Systems

00:25:47 – Precious Metals Protection

00:29:11 – Fed Investigation Power Play

00:32:59 – Financial Collapse Parallels

00:37:11 – Silver Investment Thesis

00:42:55 – Future Gold Standard Outlook

00:45:41 – 321gold.com and Wrap Up

Guest Links:

Website: http://www.321gold.com

Amazon: https://www.amazon.com/Robert-Moriarty/e/B01A9I4TJU?ref=sr_ntt_srch_lnk_3&qid=1599932580&sr=8-3

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.

Stijn Schmitz welcomes back Josef Schachter to the show. Josef Schachter is Founder, Schachter Asset Management Inc. The discussion centers on the current and future outlook for the global energy market, with a particular focus on oil and natural gas production and investment opportunities.

Schachter presents a bullish perspective on the energy sector, forecasting a significant upward trajectory for oil prices. He predicts WTI oil prices will range from $52-$66 in Q1 2026, rising to $74-$84 in Q4, potentially reaching $100 per barrel by 2028-2029. This projection is underpinned by several key factors, including normal demand growth of 1.2-1.3 million barrels per day and constrained OPEC production capabilities. A critical aspect of Schachter’s thesis is the global lack of new oil discoveries and declining production rates. He highlights that shell oil production experiences 30-50% decline rates in the first year, necessitating continuous drilling. He notes, that over a billion people worldwide lack stable electricity access, presenting a significant future demand opportunity for energy resources.

The conversation explores investment strategies within the energy sector, with Schachter recommending a diversified approach based on individual risk profiles. He suggests considering natural gas, light to medium gravity oil exposure, and service industry stocks. Notably, he emphasizes the importance of companies with strong balance sheets, insider ownership, and prudent management. Schachter is particularly optimistic about Canadian energy companies, many of which are currently trading at two to three times cash flow, with potential to expand to seven or eight times during a potential energy super cycle. He points out attractive dividend yields from various energy companies, ranging from 5% to 11%. The conversation also touches on geopolitical factors, including potential developments in Venezuela and the global shift in energy production and consumption.

Timestamps:

00:00:00 – Introduction

00:01:23 – Oil Price Outlook

00:04:39 – Inventory Analysis

00:08:29 – Venezuela Oil Shift

00:10:21 – Rule of Law

00:14:53 – Canadian Stock Impacts

00:17:11 – Investment Opportunities

00:19:00 – Dividend Yields

00:21:30 – Energy Super Cycle

00:22:49 – M&A Activity

00:35:32 – Discovery Shortages

00:40:38 – Global Demand Growth

00:48:16 – Energy Report Details

Guest Links:
Website: https://schachterenergyreport.ca

Josef Schachter is a 40+ year veteran of the Canadian Investment Management Industry, Josef Schachter has experienced several exceptional and turbulent global economic and stock market cycles. With his primary focus in the stock market and the energy sector, Josef is able to weave global political, economic and monetary issues with current energy data into a compelling story of what’s going on, what is to come, and why.

Josef is a frequent guest on Michael Campbell’s Podcast ‘Mikes Money Talks’ and other podcast and radio shows and is often quoted in the media. He is a regular Guest Speaker at the annual World Outlook Financial Conference in Vancouver and he delivers presentations to various companies and organizations. For several years, he was a frequent and notably colourful commentator on BNN Bloomberg’s Market Call.

Josef provided Oil and Gas research to Maison Placements Canada geared to their institutional clients for 15 years ending April 2017, and was acknowledged as the first analyst in Canada to predict the Oil Price Plunge of 2014.

Prior to establishing his firm Schachter Asset Management Inc. in 1996, Josef was the Chief Market Strategist at Richardson Greenshields, a Director of RGCL and a member of its Investment Policy Committee. He holds a Chartered Financial Analyst designation and is a past Chairman of the Canadian Council of Financial Analysts.