Stijn Schmitz welcomes Mining Stock Monkey to the show. The discussion centers on navigating the current commodity cycle with a disciplined, downside-protection-first approach. He emphasizes that while structural tailwinds like electrification, AI infrastructure, and global poverty reduction support a broad commodities bull market, selectivity is critical. He starts by identifying historically cheap commodities—where low prices eventually cure low prices by curbing supply and boosting demand—and then evaluates individual companies on their risk-reward profiles. Nickel tops his list, but he exclusively seeks high-grade nickel-sulfide deposits, avoiding laterite projects due to severe environmental and human rights concerns in Indonesia. Potash also appears cheap, with BHP’s delayed and over-budget Jansen mine potentially discouraging new supply; he notes producers like Nutrien and Mosaic, though he favors royalty exposure through Altius Minerals.

In oil and gas, equities are undervalued at spot prices, but the futures curve points to a sharp decline, making him cautious. He prioritizes protecting against large losses, explaining that avoiding a 75% drop is far more valuable than chasing outsized gains. On precious metals, he views the gold bull market as mature after a decade-long run, yet acknowledges that endless money printing and the weaponization of the dollar could drive prices infinitely higher. He is reducing exposure to riskier gold miners and favors royalty companies like Royal Gold, citing its superior margins, built-in growth, relative undervaluation, and potential S&P 500 inclusion as key downside protections.

Silver, however, raises concerns: a parabolic chart pattern and the fact that over a billion rural Asians hold silver as savings could trigger massive selling if they cash in on recent price spikes, potentially flooding the market. He also briefly notes that thermal coal’s chart resembles a classic bottoming pattern worth investigating.

Timestamps:
00:00:00 – Introduction
00:01:06 – Commodities Bull Market Outlook
00:03:40 – Identifying Cheap Commodities
00:06:37 – Attractive Commodities Nickel Oil
00:08:08 – Oil Equities and Supply Risks
00:09:50 – Downside Protection Strategy
00:16:03 – Potash Market Analysis
00:21:44 – Nickel Sulphide Deposits
00:25:40 – Gold Markets Currently
00:30:52 – Miners & Risk/Reward
00:36:12 – Finding Value In Miners
00:42:07 – Junior Explorers & Developers
00:47:05 – Silver Market Thoughts
00:53:57 – Thermal Coal
00:54:48 – Concluding Thoughts

Guest Links:
YouTube: http://www.youtube.com/@MiningStockMonkey
Website: https://miningstockmonkey.com/products/vip
X: https://x.com/miningstockguy
Substack: https://miningstockmonkey.substack.com

Jordan is an independent resource investor and the founder of Mining Stock Monkey. He shares his personal portfolio, dynamic valuation models, and in-depth research with a growing audience of serious investors.

His approach is uncompromisingly independent: no corporate sponsors, no investment banking fees, and no hidden agendas. Jordan invests his own capital and transparently shares exactly what he is buying and selling, along with the proprietary valuation models and research that drive his decisions.

If you’re an asset manager, family office, or high-net-worth investor looking for authentic, high-conviction resource opportunities, you can access Jordan’s real-time portfolio and join a private community of like-minded investors here: https://miningstockmonkey.com/products/vip

Stijn Schmitz welcomes Michael Oliver to the show. Michael Oliver is Momentum Structural Analysis MSA. Oliver argues that a major government bond crisis is quietly underway, driven by unsustainable debt levels in the US and other developed nations. He contends that the T-bond market is on the verge of breaking down to new price lows, an event largely ignored by mainstream financial media but one that could trigger a panic.

This looming crisis, he believes, will force central banks into aggressive money printing to defend government bonds, which in turn will act as rocket fuel for gold and silver. Oliver explains that gold’s long-term rise is not due to transient geopolitical uncertainty but rather the ongoing degradation of fiat currencies through relentless monetary expansion. He sees the stock market as bloated and in the process of forming a major top, similar to the dot-com and mortgage crisis peaks. When equities eventually falter, capital will flee into hard assets, propelling precious metals into a vertical, “wet bar of soap” phase where everyone scrambles to buy.

Silver, which recently broke out of a 50-year price range, is poised for dramatic gains. Oliver projects a move to $300–$500 per ounce, representing hundreds of percent in returns, vastly outpacing gold. He also highlights precious metals miners as an especially attractive opportunity, noting their historically low valuations relative to gold and their potential to double rapidly once they break out on a relative performance basis. Beyond precious metals, Oliver sees a broader commodity supercycle emerging, with oil, grains, and base metals all in technical positions to advance significantly. He advises a long-term, non-leveraged approach to the commodity complex as an asset class shift unfolds. Overall, Oliver’s momentum-based analysis points to an imminent, explosive revaluation of hard assets, urging investors to position themselves before the government bond crisis becomes front-page news.

Timestamps:
00:00:00 – Introduction
00:00:41 – Gold and Fiat Money Dynamics
00:03:09 – Government Bond Crisis Warning
00:03:43 – T-Bond Technical Analysis
00:08:46 – Structural Bond Market Trends
00:20:02 – Gold Bull Market Cadence
00:32:37 – Silver Price Forecast
00:37:36 – Silver Outperformance Potential
00:41:16 – Precious Metals Miners Outlook
00:46:48 – Selecting Individual Miners
00:50:23 – Broader Commodity Opportunities
00:54:42 – Closing and Resources

Guest Links:
Website: http://www.olivermsa.com/
X: https://twitter.com/Oliver_MSA
Amazon Book: https://tinyurl.com/y2roa7p5
Email: mailto:michaeloliver@olivermsa.com

Email MSA above, and they will send you this week’s report for free, which covers many of the topics from this interview.

J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, headquartered in New York City’s Battery Park. He studied under David Johnston, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980s, Mike began to develop his proprietary momentum-based method of technical analysis. He learned early on that orthodox price chart technical analysis left many unanswered questions and too often deceived those who trusted in price chart breakouts, support/resistance, and so forth.

In 1987 Mike technically anticipated and caught the Crash. It was then that he decided to develop his structural momentum tools into a full analytic methodology.

In 1992, the Financial VP and head of Wachovia Bank’s Trust Department asked Mike to provide soft dollar research to Wachovia. Within a year, Mike shifted from brokerage to full-time technical analysis. He is also the author of The New Libertarianism: Anarcho-Capitalism.

Stijn Schmitz welcomes Doomberg to the show. Doomberg is Head Writer For The Doomberg Team and Creator of the Doomberg Substack. The podcast explores the current geopolitical and energy landscape, focusing on the ongoing conflicts in the Middle East and potential global power dynamics. Discussing the current energy market disruptions, Doomberg suggests that while the Strait of Hormuz closure is significant, the market has been surprisingly stable. He estimates the potential oil supply disruption at around 8 million barrels per day, significantly lower than some analysts’ predictions.

The sophisticated oil markets have absorbed these challenges, with China potentially playing a crucial role by releasing strategic reserves and managing supply. The conversation delves into a potential grand geopolitical bargain that might be discussed in the upcoming meeting between Trump and Xi in Beijing. Doomberg speculates about a potential realignment of global interests, including a settlement of the Ukraine conflict on terms favorable to Russia, ceding Taiwan to China’s sphere of influence, and dividing Middle Eastern and Arctic territories among major powers. Regarding the US dollar and global economic shifts, Doomberg argues that we’re moving towards a multipolar or potentially Chinese-dominated unipolar world. He sees the sanctions against Russia after Crimea as the beginning of a new world order, with China and Russia challenging US global dominance.

The discussion highlights the United States’ significant natural gas advantage, with the country producing 110 billion cubic feet per day and poised to become a major LNG exporter. Doomberg emphasizes the potential for North American energy dominance, particularly through clean and abundant natural gas. Looking forward, Doomberg suggests a potential multipolar world with the US focusing on its Western Hemisphere, China gaining prominence, and Russia finding its place. He remains cautiously optimistic about a potential diplomatic resolution to current global tensions, while acknowledging the complexity of geopolitical negotiations.

Timestamps:
00:00:00 – Introduction
00:00:38 – Oil Supply Disruption Assessment
00:03:54 – China’s Oil Stockpiling Role
00:05:02 – Oil Price Mechanics Explained
00:10:24 – Supply Shortage Estimates
00:12:52 – Strait Reopening Impact
00:15:20 – Trump-Xi Meeting Significance
00:17:54 – Grand Bargain Outlines
00:22:45 – US Western Hemisphere Focus
00:26:30 – Fading Oil Spike Strategy
00:31:03 – Fertilizers and Commodity Impacts
00:34:53 – Helium Just-In-Time
00:36:16 – OPEC & the Petrodollar
00:39:20 – Geopolitical Shifts and Gold
00:46:46 – Unipolarity Outcomes
00:53:46 – Euro Hydrocarbon Resources
00:56:37 – Concluding Thoughts

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 Luke Gromen to the show. Luke Gromen is President and Founder of Forest For The Trees. Luke explores unprecedented global economic and geopolitical shifts, focusing on massive commodity supply disruptions and transforming monetary systems. He highlights several critical trends: the largest commodity supply flow disruption in history, unprecedented levels of globalization, sovereign debt, and market valuations. He argues that current global tensions, particularly around the Strait of Hormuz, could trigger significant economic challenges. The potential closure of strategic maritime routes could lead to dramatic supply chain breakdowns, potentially causing localized famines and massive economic disruptions.

Gromen suggests that while the US dollar will remain widely used, it will no longer be the primary wealth storage mechanism. China is strategically positioning itself by establishing yuan-gold settlement systems and offshore clearing banks, effectively creating a multi-currency framework with gold as the pivotal settlement asset.

Geographically, Gromen sees varied outcomes for different regions. He believes the United States has geographical advantages but warns against urban living during this transition. Europe appears most vulnerable, while Asian countries like China, Japan, and South Korea are potentially well-positioned to benefit from these shifts, particularly given their engineering capabilities and demographic dynamics.

Regarding commodities, Gromen anticipates a generational trend favoring strategic metals like copper, silver, nickel, rare earths, and uranium. He predicts that future commodity trades will increasingly require value-for-value exchanges, moving away from paper-based transactions. The underlying theme is a fundamental restructuring of global economic systems, driven by supply chain fragilities, geopolitical tensions, and the need for more resilient, productivity-focused economic models. Gromen suggests this transition will likely involve significant inflation and economic recalibration, with gold playing a central role in the emerging monetary landscape.

Timestamps:
00:00:00 – Introduction
00:00:44 – Unprecedented Energy Disruption
00:02:48 – Globalization and Debt Levels
00:05:00 – Equity Valuations Warning
00:07:20 – Market Pricing Liquidity
00:09:01 – Supply Chain Breakdowns
00:10:28 – Disruption Lag Effects
00:12:15 – Oil Policy Miscalculations
00:15:27 – Geopolitical Trade-offs
00:21:50 – Hubris vs Strategy
00:28:33 – China’s Strategic Benefits
00:33:56 – Monetary Order Shift
00:39:52 – Gold’s Reserve Role
00:45:06 – Future Debasement & Gold
00:49:46 – Regional Economic Outlooks
00:56:10 – Commodity Generational Trends
01:00:12 – New section

Guest Links:
X: https://x.com/lukegromen
Website: https://fftt-llc.com/

Luke Gromen began his career in the mid-1990s in Research at Midwest Research before moving over to institutional equity sales and becoming a partner. While in sales, Luke was a founding editor of Midwest’s widely-read weekly summary (“Heard in the Midwest”) for the firm’s clients. He aggregated and combined proprietary research from Midwest with inputs from other sources.

In 2006, Luke left FTN Midwest to become a founding partner of Cleveland Research Company. At CRC, Luke continued to work in sales and edit CRC’s flagship weekly research summary piece (“Straight from the Source”) for the firm’s customers.

In 2014, Luke left Cleveland Research to found FFTT, LLC (“Forest for the Trees”), a macro/thematic research firm catering to institutions and individuals that aggregates a wide variety of macroeconomic, thematic, and sector trends in an unconventional manner to identify investable developing economic bottlenecks.

Luke also provides strategic consulting services for corporate executives. He is a graduate of the University of Cincinnati and received his MBA from Case Western Reserve University and earned the CFA designation in 2003.

Stijn Schmitz welcomes Don Durrett to the show. Don Durrett is Author, Investor, and Founder of Goldstockdata.com. In this comprehensive interview, Durrett provides deep insights into the current economic landscape and his perspective on gold and silver investments. Durrett argues that the global economic system is fundamentally unsustainable, characterized by what he calls “voodoo economics” and modern monetary theory’s approach of continuous money printing. He believes the United States is trapped in a “doom loop” of increasing debt and economic challenges, which creates a compelling case for precious metals investments.

Drawing from his two decades of investing experience, Durrett explains his investment philosophy using a pyramid approach. He recommends building a foundation with physical metals, then progressively adding ETFs, major mining companies, mid-tier producers, and finally high-risk exploration stocks. His current portfolio contains 165 stocks, with an expectation of generating a seven to ten-fold return. Durrett is particularly bullish on gold, projecting prices potentially reaching $7,000 and expecting the current bull market to continue through 2028. He anticipates a “fair trade” scenario where gold’s value crosses the S&P 500’s value, indicating a significant market transformation. His investment strategy focuses on finding stocks with exceptional leverage and potential, particularly those that could provide 20x returns at higher metal prices.

Regarding the current market, Durrett sees significant opportunities in precious metals miners, especially those with potential for substantial growth. He’s not overly concerned with current production costs, instead focusing on a company’s potential valuation at higher gold and silver prices. He believes many investors and Wall Street are underestimating the potential of gold and silver mining companies. Through his website Goldstockdata.com, Durrett aims to provide investors with comprehensive data and educational resources to help them make informed investment decisions in the precious metals sector.

Timestamps:
00:00:00 – Introduction
00:00:41 – Market Overview & Bull Case
00:03:29 – Economic History and Voodoo Economics
00:08:37 – MMT Origins and Doom Loop
00:11:32 – Current Correction Buy Opportunity
00:12:54 – Geopolitical War Impacts Analysis
00:25:45 – Fear Trade and Gold Targets
00:31:18 – Miners & Bull Markets
00:37:04 – Investment Approaches
00:41:44 – Pain Point and Diversification
00:48:35 – Royalty Companies Evaluation
00:51:23 – Goldstockdata.com Overview

Guest Links:
X: https://x.com/DonDurrett
Website: https://www.goldstockdata.com
Substack: https://dondurrett.substack.com
Amazon Books: https://www.amazon.com.mx/How-Invest-Gold-Silver-Complete/dp/1427650241
Blog Posts: https://seekingalpha.com/author/don-durrett#regular_articles
YouTube: https://www.youtube.com/user/Newager23

Don Durrett received an MBA from California State University Bakersfield in 1990. He has worked in IT-related positions for 20+ years. He has been a gold investor since 1991, with a focus on Junior Mining stocks since 2004. Realizing the value of investing in gold and silver and noticing the lack of available material for first-time investors, Don set out to provide information. First, he wrote a book, How to Invest in Gold & Silver: A Complete Guide with a Focus on Mining Stocks. He followed up the book with a website (www.goldstockdata.com) to provide data, tools, and analysis for gold and silver stock investors. His gold and silver mining stock newsletter is widely regarded as one of the best. He is a frequent guest on financial podcasts and a contributor to SeekingAlpha.com.

Your host, Stijn Schmitz welcomes back Dr. Mark Thornton to the show. Dr. Mark Thornton is Economist and Senior Fellow at the Mises Institute. This discussion centers on global economic disruptions, particularly in commodity markets and energy sectors, stemming from geopolitical tensions in the Middle East. Dr. Thornton highlights the significant impact of potential oil and gas supply disruptions, estimating that 15-20% of global supply might be affected.

Timestamps:
00:00:00 – Introduction
00:01:05 – Global Economy Uncertainty
00:04:10 – Middle East Disruption Impact
00:04:57 – Stock Market vs Oil Discrepancy
00:06:52 – Supply Chain Byproducts Effects
00:11:13 – Oil Cutoff Long-term Consequences
00:14:33 – Global Pain Points Analysis
00:22:38 – Reshoring vs Free Trade
00:31:26 – Natural Gas Opportunities North America
00:39:08 – Unleashing US Resource Potential
00:43:43 – Petrodollar System Cracks
00:50:25 – Gold Settlement Currency Role
00:56:03 – Gold & Fiat Currencies
01:02:42 – Concluding Thoughts

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
Book-Hayek: https://mises.org/library/book/hayek-21st-century-essays-political-economy

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.