Today I release a joint podcast effort with my dear friends over at Palisades Gold Radio, one of my favorite podcasts that can be listened to and followed here.
I had a conversation with Tom Bodrovics yesterday. Tom is a private investor from western Canada with a background in oil and gas. In 2014 he identified the top of the housing cycle and sold his home to invest in the junior resource sector. He gained a libertarian and contrarian perspective in 2013 when he attended an entrepreneurship course in Europe and has been studying markets of all types ever since. He operates a successful business servicing the oil and gas sector in Alberta and is the host of Palisades Radio.
Here’s what we talked about during our interview:
A recent Federal Reserve report indicates that China was trying to infiltrate that organization.
China wants to challenge the dollar and grow as a global economic superpower. China and Russia continue to de-dollarize while stockpiling gold.
The BRICS have announced their intention to create their own global reserve currency.
Why I believe China has decided they want Taiwan, and they have a very long-term approach to their global domination plans.
We’ve seen two negative GDP prints, but those in charge are now changing the definitions. The White House and the Fed have run out of variables to mess with, and they’re not getting the numbers they want. GDP is one of the last bastions of common-sense leftover from Austrian Economic thought.
Once the rate hike truly makes it through the system, there will be significant shockwaves. There won’t be much warning and things will accelerate rapidly. Expect shocks to the credit market that will surprise many. The Titanic has already hit the iceberg and everyone is in denial.
It will be interesting to see what causes Powell to finally pivot. Don’t be fooled and think that everything is fine because it isn’t.
There is no good reason to not believe in gold’s future. It’s soon going to be the key globally. We’re going to see a rush to buy gold unlike anything we’ve seen. Leverage with the miners will be off the chart. The strength in the dollar will not last. That’s when we’ll see gold explode and never come back.
It was clear that companies doing crypto lending we’re taking on enormous risks. If you see offers for 10% plus yields, then you’re almost certainly looking at a Ponzi, which is what we saw with Celsius. Other firms have also blown up, and it seems like there has to be more deleveraging to come. We still have Tether failing to produce an actual audit, and everyone seems skeptical. Until we get more truth and Michael Saylor is sweating in the hot seat, we may not have hit the bottom. Who knows if Bitcoin is cheap, how does one even judge it on fundamentals?
Lastly, Tom and Chris discuss the importance of being objective and getting a rounded view of economics and politics. Integrity and good faith is more important than just being told what you want to hear. We’ve seen a lot of blatant disinformation campaigns driven from a state level through the media.
Talking Points From This Episode
Geopolitics, espionage, and economic supremacy
Why a credit crisis is coming and gold will take off
Finding the truth out by seeking opinions and other perspectives
The crypto markets still need to purge themselves
Time Stamp References:
0:00 – Introduction
2:07 – China, Espionage, & the U.S.
12:17 – Economic Mutual Spying?
15:57 – Hiding Problems
29:13 – Economic Screwing
31:30 – Fed Dorito Theory
39:12 – Faith in Metals
44:09 – Gold is Gonna Go!
48:25 – Gold & Inflation
51:59 – Enormous Crypto Risk?
56:57 – Saylor Carried Out?
59:30 – The Twitter ‘Deal’
1:04:12 – Cybersecurity Sector?
1:16:18 – Objectivity & Analysis
1:27:41 – And Saylor Is Out
1:29:22 – Wrap Up
🔥 If you not yet a subscriber to Fringe Finance, I’d be humbled by your support here and would love to offer you 50% off annual plans for as long as you’d like to remain a subscriber:
Here is the interview, which is about 90 minutes in length: