Competent Man Podcast

David Hunter, Chief Macro Strategist with Contrarian Macro Advisors, discusses his outlook on the equity markets and the broader economy. Hunter has consistently predicted a melt-up scenario, and he has recently raised his targets for the S&P 500, NASDAQ, Dow, and Russell indices, with the most aggressive target being 3,800 for the Russell. He believes that the current bull market will continue to climb, driven by improving sentiment among institutional investors, who have been cautious but are now more bullish. However, he foresees a significant downturn, or "bust," in the near future, characterized by a severe recession and a financial crisis. This bust is likely to be triggered by issues in Europe, China, or Japan, exacerbated by high levels of leverage and potential policy mistakes by central banks. Hunter expects the bust to be more severe than the 2008-2009 financial crisis, with a potential 80% decline in the equity markets. He anticipates a delayed and inadequate response from central banks, leading to a prolonged period of economic distress. Despite this grim outlook, Hunter sees opportunities in commodities and precious metals post-bust, as these assets are likely to appreciate significantly in the inflationary environment that follows. He advises investors to prepare for the bust by reducing debt and positioning themselves to take advantage of the opportunities that will arise during the recovery. Hunter also discusses the potential for a gold-backed bond and the future of the bond market, predicting that bond yields could drop significantly during the bust.

Chris MacIntosh, a hedge fund manager and founder of Capitalist Exploits, discussed the current economic and investment landscape with host Tom Bodrovics. MacIntosh described the era from 2020 to 2025 as the "age of uncertainty," characterized by a loss of faith in institutions and a shift away from accountability. He argued that this uncertainty is interrelated with accountability issues, creating a feedback loop where people are less inclined to take responsibility for understanding global events. MacIntosh emphasized the importance of understanding broader macro trends and positioning investments accordingly. He cautioned against the emotional and impulsive decision-making often driven by short-term market noise, advocating instead for a disciplined, long-term investment approach. This involves focusing on probability and managing risk through position sizing, rather than trying to predict specific outcomes. MacIntosh highlighted the potential opportunities in precious metals, agriculture, and other hard assets, given the current debt levels and potential for currency debasement. He also discussed the importance of diversification and the need to be adaptable in an increasingly uncertain world. He mentioned the potential for capital controls in Europe and the UK, which could drive capital flows to places like Argentina, where there are significant investment opportunities, particularly in the oil sector. MacIntosh also touched on the importance of being a generalist in today's rapidly changing world, as specialization can limit one's ability to adapt to new challenges. He encouraged listeners to build mental muscle by exposing themselves to a wide range of information and skills, making them more valuable and adaptable in an age of uncertainty. Overall, MacIntosh's insights underscored the need for a disciplined, long-term approach to investing, with a focus on managing risk and being adaptable to changing macro trends.

During the podcast, host Tom Bodrovics interviews Ronald Stein, an engineer, columnist, and advisor on energy literacy, to discuss the public's misunderstanding of energy, particularly fossil fuels. Stein argues that the term "energy" is often misused, with people confusing it with electricity. He emphasizes that the world's population growth and development over the past 200 years are due to the products derived from fossil fuels, not the energy itself. These products include materials for hospitals, airports, and other infrastructure that did not exist two centuries ago. Stein highlights the materialistic nature of society and the challenge of finding replacements for the thousands of products made from fossil fuels. He criticizes the focus on wind and solar power, noting that these sources only generate electricity and cannot produce the materials needed for modern life. He also discusses the double standard in the reclamation of wind and solar infrastructure compared to fossil fuel facilities. The conversation touches on the environmental impact of mining for materials used in green technologies and the ethical implications of exploiting workers in developing countries to extract resources like lithium and cobalt. Stein advocates for a more nuanced understanding of energy and the need for a sober analysis of how to transition to less dense and less reliable energy sources. Stein also discusses the potential of nuclear power as a viable option for electricity generation, citing its efficiency and reliability. He criticizes the regulatory hurdles and public perception issues that have hindered the growth of nuclear power in the United States. The podcast also covers the challenges of modernizing the U.S. grid to handle increased electricity demand, particularly from electric vehicles, and the potential financial implications for states like California. Stein concludes by emphasizing the need for conversations about energy literacy and the importance of finding practical solutions to the energy challenges facing society. He encourages listeners to engage in these conversations and to seek out leaders with energy wisdom.

Chris Vermeulen, founder and chief market strategist of TheTechnicalTraders.com, shared his insights on the current market conditions and future outlook with host Tom Bodrovics. Vermeulen highlighted several warning signs in the market, including record highs in gold, silver, home prices, copper, platinum, money market funds, US debt, deficit spending, and household debt. He emphasized that the surge in precious metals indicates a lack of trust in the economy and financial systems, suggesting an impending correction or crisis. Vermeulen discussed the historical context of precious metal rallies, noting that similar patterns occurred before major financial events like the 2007 financial crisis and the tech bubble. He also pointed out the current AI bubble and the influx of venture capital into AI investments, comparing it to past bubbles that eventually burst. The discussion also touched on the record number of trillion-dollar IPOs, such as SpaceX and OpenAI, which Vermeulen sees as a warning sign of a market peak. Vermeulen's trading strategy focuses on technical analysis, using charts to identify trends and make trading decisions. He avoids trying to pick bottoms or tops and instead looks for confirmed uptrends to enter positions. He also uses Fibonacci retracement levels to manage risk and identify potential pullbacks in precious metals. Vermeulen expects significant corrections in gold and silver, with gold potentially pulling back to $3,100-$3,600 and silver to $70-$60 before resuming their uptrends. The conversation also covered the impact of news-driven events on the market, with Vermeulen advising against trading based on news alone. He prefers to follow the charts, which reflect the collective psychology and actions of market participants. Vermeulen also discussed the potential for a massive reset in oil prices, predicting a move down to the $45 per barrel range due to a glut of supply and decreasing demand. Vermeulen expressed concern about the potential for a significant financial reset in the near future, citing various warning signs and historical cycles. He advised listeners to have a game plan and be prepared for potential market downturns, as the current environment could be particularly challenging for those close to or in retirement. Despite his bearish outlook, Vermelez is still long equities and precious metals, expecting short-term upside before a potential correction.

In this podcast, Tom Bodrovics interviews Paul Musson, author of "Capital Offense: Why Some Benefit at Your Expense," to discuss the current state of the monetary system and its impact on individuals. Musson's primary goal with the book is to educate and empower people, particularly those outside the investment industry, about the monetary system and the consequences of excessive deficit spending. He argues that the current system is unsustainable and that policymakers, while not malicious, are driven by incentives that lead to detrimental economic policies. Musson explains the evolution of the monetary system, from the classical gold standard to the current fiat currency system, and argues that the continuous increase in the money supply without a corresponding increase in goods leads to inflation. He emphasizes that the natural rate of interest, determined by market forces, is crucial for efficient capital allocation and economic growth, contrasting it with the neutral rate manipulated by central banks to stimulate economic activity. The discussion also covers the distinction between capital and money, with Musson highlighting that capital is created through production and exchange, while money is a medium of exchange. He argues that increasing the money supply without increasing capital leads to a redistribution of wealth from those who do not own assets to those who do, a process he refers to as "capital offense." Musson advises listeners to be cautious in their investment strategies, given the current economic environment. He recommends investing in high-quality businesses with strong balance sheets and considers gold as a hedge against potential financial repression or economic turmoil. He also emphasizes the importance of financial education and seeking advice from reputable financial advisors. Throughout the conversation, Musson stresses the need for a controlled implosion of the current system to avoid a catastrophic financial crisis, which could lead to a shift towards socialism. He encourages listeners to demand better policies from policymakers and to understand the true nature of money and capital to navigate the complex economic landscape effectively.

In this podcast, Tom Bodrovics interviews Axel Merk, the founder, CEO, and CIO of Merk Investments, focusing on the current state and future prospects of gold mining investments. Merk expresses that while gold miners have had a remarkable run, they still present a bargain due to the higher price of precious metals not being fully reflected in miner valuations. He notes increased interest from generalist investors and speculators returning to the sector. Merk highlights that gold miners are currently experiencing better margin expansion, which could attract more capital. Merk discusses the logistical challenges and differences between gold and silver markets, noting that silver's industrial use makes it more volatile. He attributes gold's strength to factors like tariffs disrupting currency flows, the weaponization of the dollar, activist politics, and easing monetary policies. Merk also touches on the depreciation of fiat currencies and the potential for a revaluation of other assets, which could impact gold's performance. The conversation shifts to the independence of the Federal Reserve, with Merk arguing that maintaining independence is crucial to avoid reckless government spending and inflation. He criticizes the Fed's involvement in fiscal policy decisions and advocates for a return to basics. Merk also discusses the potential implications of geopolitical tensions and resource nationalism, suggesting that these factors could drive up the cost of doing business and benefit gold. Merk advises investors to focus on risk management and be prepared for volatile times ahead. He emphasizes the importance of investing in well-managed teams with proven track records in the mining sector. Looking forward, Merk sees opportunities in strategic minerals beyond gold and silver, given the right management and logistical considerations. He concludes by reminding investors to assess their risk tolerance and ensure they are comfortable with their portfolio's exposure to volatility.

During the podcast, Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence, shared his insights on various commodities, with a significant focus on silver and gold. McGlone expressed concern about silver's recent 210% gain over the past year, suggesting that it has entered a blowoff stage, a characteristic of the late phases of a bull market. He advised caution, indicating that the high price could incentivize supply and de-incentivize demand, potentially leading to a correction. McGlone also discussed the gold-silver ratio, noting that it has dropped significantly, and compared it to historical ratios, suggesting that silver might be overvalued relative to gold. McGlone highlighted the importance of considering the supply-demand dynamics and price elasticity of commodities. He pointed out that silver's price has increased rapidly, which could lead to increased supply and a subsequent price correction. He also mentioned that the current low volatility in the stock market and the high price of gold relative to the S&P 500 could indicate an overdue correction in the stock market. The discussion also touched on the geopolitical risks and their potential impact on commodities. McGlone mentioned the ongoing tensions with Iran and the potential for a significant geopolitical event to disrupt markets. He also discussed the role of China in the global commodity market, noting that China's export-driven economy could contribute to deflationary pressures. McGlone expressed a bearish view on cryptocurrencies, comparing them to the dot-com bubble and suggesting that the massive speculation in the crypto market could lead to a significant correction. He also mentioned that the launch of crypto ETFs and the support from former President Trump could have contributed to the peak in the crypto market. In conclusion, McGlone advised listeners to be cautious and to look for opportunities to lighten up on rapidly appreciating risk assets. He suggested that the current environment could be an ideal opportunity for traders to take advantage of volatility and to be underweight on risk assets.

Tom Bodrovics hosts Michael Oliver from Momentum Structural Analysis (MSA) and Vince Lanci, author of the Goldfix Substack, to discuss the dynamics of the silver market from short, medium, and long-term perspectives. Michael Oliver, a technical analyst, provided insights based on historical price patterns and momentum indicators, while Vince Lanci offered a trader’s perspective, focusing […]

Tom Bodrovics welcomes John Johnston to the show. John Johnston is a Veteran Commodities Trader & Substack Publisher. The discussion centers around the current state of the markets and the looming impact of AI technology. Johnston expresses concern over the rapid advancement of AI, warning that it may render many human activities and skills irrelevant. He believes AI could create a "super creature" that is smarter than humans, making traditional measures of wealth and value obsolete. Regarding the current market dynamics, Johnston explains that the high stock market and gold prices are not due to inflation, but rather a reflection of the declining value of fiat currencies. He notes that central banks are buying gold as a hedge against distrust in the financial system, while the general public in the US is not as compelled to own gold compared to other countries like China. Johnston also laments the declining standards of education and historical/cultural awareness among the general population, which he sees as a crisis of meaning and purpose. He contrasts this with his own upbringing, where he was exposed to a broad range of literature and knowledge by a young age. Ultimately, Johnston expresses deep uncertainty and trepidation about the future, as the rapid technological changes outpace human understanding. He advocates for buying gold as a hedge, while acknowledging the challenges and volatility of the silver market. Johnston's insights paint a sobering picture of the societal and existential challenges humanity may face in the years ahead.

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.

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.

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.

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.

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.

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.

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.

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.

During a podcast with Tom Bodrovics, Aaron Day, a prominent entrepreneur and advocate for financial freedom, discussed the implications of stablecoins and central bank digital currencies (CBDCs) on the U.S. financial system. Day argues that the recent legislative actions, such as the Stablecoin Transparency Act, are paving the way for increased financial surveillance and control, effectively creating a "backdoor CBDC." He explains that while stablecoins like Tether and USDC were initially popular for their efficiency in cross-border transactions, the new regulations force these stablecoins to be backed by U.S. treasuries, thereby increasing the government's control over digital transactions. Day also highlights the broader implications of technocracy, a movement that aims to replace democratic decision-making with technocratic control. He cites examples of influential figures like Elon Musk and Peter Thiel, who are pushing for a system where scientists and engineers make decisions for the public. This technocratic agenda includes the use of energy credits as a form of currency and the implementation of AI-driven systems to manage resources and control behavior. Day warns that this shift towards technocracy is happening rapidly and with little resistance, leading to a potential loss of individual freedoms. The conversation also touches on the evolution of Bitcoin, which Day argues has been hijacked by nefarious actors to serve as a tool for central control rather than a decentralized currency. He discusses the role of figures like Jeffrey Epstein in funding Bitcoin developers and the subsequent manipulation of the currency's development to serve centralized interests. Day emphasizes the importance of understanding the true history of Bitcoin and the ongoing efforts to control and surveil digital transactions. Day concludes by advocating for individual empowerment and the creation of parallel systems that operate outside of the current technocratic framework. He encourages listeners to opt out of centralized systems, invest in their own education and skills, and build alternative healthcare and financial marketplaces. Ultimately, Day's message is one of hope and agency, urging individuals to take control of their lives and resist the encroachment of technocratic control.

Kevin Wadsworth and Patrick Karim from NorthStarBadCharts.com discussed the concept of a capital rotation event, a significant shift in capital movement between stock markets and precious metals, particularly gold. This event is characterized by a cyclical pattern where capital moves from risk-on assets like stocks to risk-off assets like precious metals during economic downturns. The hosts emphasized the importance of using a "weight of evidence" approach, considering multiple charts and indicators rather than relying on a single piece of data. They highlighted that gold's recent outperformance against various metrics, including the US dollar and money supply, suggests a significant capital rotation event may be underway. The discussion delved into historical examples, such as the 1970s and early 2000s, where stock markets experienced major downturns while precious metals surged. They compared current market conditions to these historical periods, noting similarities in the behavior of gold and silver versus the stock market. Patrick Karim presented a detailed chart analysis, showing how the Dow Jones Industrial Average has historically underperformed silver, indicating potential future movements. The hosts also addressed the role of Bitcoin in this context, noting that it has not correlated with gold and silver as expected. They advised listeners to be cautious about holding Bitcoin during a capital rotation event, as it may not provide the same safe-haven benefits as precious metals. Instead, they suggested focusing on precious metals and associated miners, which are currently outperforming. Kevin Wadsworth and Patrick Karim provided practical advice for investors, emphasizing the importance of identifying downside support levels and understanding one's investment strategy—whether as a trader, investor, or stacker. They also discussed the potential for corrections in gold and silver, suggesting that these corrections could present new entry points for investors. The conversation concluded with a reminder that opportunities in the market are cyclical, and patience is key to successful investing.

Tom Bodrovics interviews Gary Savage, a retired entrepreneur, investor, and president of Smart Money Tracker Premium, to discuss the current state of the markets, with a particular focus on gold, silver, and crypto. Savage believes that Bitcoin has completed the top of its four-year cycle and is now in a declining phase, which could last about a year. In contrast, gold is still in the advancing phase of its eight-year cycle and is expected to enter a parabolic bubble phase. Savage argues that the bull market for gold started in 1999 or 2001 and is now in its second phase, with the potential for significant gains in the next one and a half to two years. He suggests looking at the gold-silver ratio and the Dow-gold ratio to pick a top in the gold market, with a gold-silver ratio of $20 to $1 or $30 to $1 indicating a potential top. Savage also discusses the current consolidation period in the gold market, which he expects to end around the FOMC meeting in December, followed by a more aggressive bull move. He believes that the suppression of the silver market broke when it couldn't be held below $33, and that normal corrections will continue from here. Savage also shares his views on the stock market, which he does not see crashing but potentially entering a bubble phase. He expects inflation to continue, driven by factors such as housing and stock market inflation, but kept in check by the current administration's energy policies. Savage emphasizes the importance of controlling greed and not getting caught up in narratives at market tops. He recommends focusing on technical analysis and repeatable cycles to remove emotion from trading decisions. Savage also discusses his subscription service, Smart Money Tracker Premium, which focuses on trading metals with leverage during intermediate cycles. He encourages listeners to join now to position themselves for the next trending move in the metals market.