Palisades Gold Radio

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.

Stijn Schmitz welcomes back the legendary Rick Rule to the show. Rick Rule is Investor, Speculator, Founder & CEO of Rule Investment Media. In this wide-ranging interview, Rule provides insights into various commodity markets and economic trends, highlighting key perspectives on precious metals, oil, and global economic dynamics. Reflecting on the remarkable performance of commodities in 2025, Rule notes that gold has actually been steadily growing at 9% compounded annually since 2000. While he doesn’t expect the same parabolic moves to continue, he believes gold will continue to appreciate over the next decade. For silver, Rule discusses significant market disruptions, including changes in trading patterns in Dubai and China, and notes that industrial demand remains structurally inelastic. Regarding the broader economic landscape, Rule offers a stark assessment of the US dollar’s purchasing power, which has lost 97% of its value since 1913. He predicts a potential further 75% loss in purchasing power, suggesting that governments will likely continue to inflate away debt obligations. This perspective underpins his strategy of saving in gold and maintaining liquidity in US dollars. In the commodity sector, Rule sees significant opportunities in copper, oil, and select mining stocks. He emphasizes the long-term supply constraints in copper, driven by decades of underinvestment and lengthy permitting processes. For oil, he recommends companies like Exxon and Canadian producers, noting the sector’s current undervaluation. Timestamps: 00:00:00 – Introduction 00:00:40 – 2025 Commodity Rally Drivers 00:01:25 – Gold Bull Market History 00:02:52 – Silver Shortage Fundamentals 00:05:49 – Silver Market Disruptions 00:08:00 – Silver Demand Inelasticity 00:12:40 – US Dollar Purchasing Power Loss 00:17:13 – Fiscal Challenges and Inflation 00:19:17 – Precious Metals Miners Value 00:23:20 – Private Placements 00:25:25 – Oil and Gas Opportunities 00:32:25 – Hated Commodities Overview 00:36:00 – Coal & Copper 00:44:20 – Concluding Thoughts Guest Links: X: https://x.com/@realrickrule Website: https://ruleinvestmentmedia.com YouTube: https://www.youtube.com/@RuleInvestmentMedia Classroom: https://ruleclassroom.com Rick Rule has dedicated his entire adult life to many aspects of natural resources securities investing. Besides the knowledge and experience gained in a long and focused career, he has a global network of contacts in the natural resources and finance sectors. Mr. Rule is a frequent speaker at industry conferences and is regularly interviewed for radio, television, print, and online media outlets concerning natural resources investment and industry topics. Prominent natural resources-oriented newsletters and advisories frequently quote him. Mr. Rule and his team have expertise in many resource sectors, including agriculture, alternative energy, forestry, oil and gas, mining, and water.

Stijn Schmitz welcomes Marc Faber to the show. Marc Faber is Contrarian Investor and Publisher of the Gloom, Boom, & Doom Report. Their discussion centers on global economic trends, monetary policy, and the impact of continuous money printing by central banks. Faber, a proponent of the Austrian school of economics, critically examines the current financial landscape, highlighting how central banks and financial institutions are incentivized to continuously print money, which leads to uneven price increases across various assets. Faber argues that money printing fundamentally distorts economic systems, with financial institutions benefiting first from monetary expansion while average workers experience declining real wages. He points out that while nominal GDP might show growth, real purchasing power for most people has actually decreased. The conversation explores the historical context of economic cycles, with Faber referencing economists like Kondratiev and discussing how societies rise and decline. The discussion shifts to geopolitical dynamics, particularly the changing global power balance between the United States and emerging powers like China and Russia. Faber suggests that the US is no longer in the dominant position it held post-World War II, with potential competitive challenges emerging from other global powers. Regarding investment strategies, Faber recommends diversification across assets like real estate, precious metals, stocks, and cash. He sees particular potential in gold, silver, and platinum as alternative currencies, and believes these metals can serve as protection against monetary devaluation. He’s especially bullish on platinum, suggesting it might eventually surpass gold in price. Faber’s investment philosophy emphasizes understanding price dynamics over specific company details, advocating for purchasing assets below their intrinsic value. He remains skeptical of government interventions and central bank policies, viewing them as potentially destructive to long-term economic stability. Timestamps: 00:00:00 – Introduction 00:00:51 – Precious Metals Bull Run 00:01:25 – Gold Market History 00:02:31 – Money Printing Effects 00:05:33 – Financial Industry Incentives 00:07:15 – Austrian Economics Overview 00:09:10 – Keynesian Policies Critique 00:14:40 – Economic and War Cycles 00:20:25 – Geopolitical Tensions Rise 00:22:47 – Global Financial System Risks 00:24:00 – Safe Currencies Gold Silver 00:27:12 – Approaching Economic Crises 00:33:02 – Portfolio Diversification Advice 00:35:49 – Silver Platinum Investment Benefits 00:42:05 – Newsletter and Personal Reflections 00:45:44 – Concluding Thoughts Guest Links: Website: https://www.gloomboomdoom.com/ X: https://x.com/gloomboomdoom Dr. Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. in Economics magna cum laude. Between 1970 and 1978, Mr. Faber worked for White Weld & Company Limited in New York, Zurich, and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, Marc was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, publishing a widely read monthly investment newsletter, “THE GLOOM BOOM & DOOM,” a report highlighting unusual investment opportunities. Dr. Faber is also the author of several books, including “TOMORROW’S GOLD – Asia’s Age of Discovery,” first published in 2002 and highlighted future investment opportunities. “TOMORROW’S GOLD” was on Amazon’s bestseller list and translated into Japanese, Korean, Thai, and German. Marc is also a regular contributor to several leading financial publications around the world. In addition, Dr. Faber is a frequent speaker at various investment seminars and is well known for his “contrarian” investment approach.

Stijn Schmitz welcomes Bill Holter to the show. Bill is a Precious Metals Expert and Broker. In this in-depth discussion about the precious metals market, Holter provides a comprehensive overview of the current dynamics driving silver and gold prices, highlighting a significant structural shift in the global metals market. Holter emphasizes a substantial supply and demand deficit in silver, estimated at 300-400 million ounces, driven by increasing industrial applications such as AI technology and electric vehicle batteries. He notes that physical metal exchanges like Shanghai are experiencing significant premiums over paper markets, indicating a fundamental change in metals trading. This phenomenon, known as backwardation, suggests investors are increasingly prioritizing physical metal ownership over paper contracts. Bill predicts a potential transformation in global currency systems, suggesting that the US dollar is declining while BRICS nations are developing a potentially gold-backed settlement currency. Holter believes this shift could dramatically impact global financial markets, with gold and silver emerging as the only truly trustworthy currencies. Institutional buying is currently driving the precious metals market, with family offices, hedge funds, and even sovereign nations like Russia purchasing significant quantities. Holter sees this as a critical moment for metals, potentially leading to a delivery failure in silver markets that could trigger massive price increases. For individual investors, Holter recommends starting with silver, particularly “junk silver” coins minted before 1965, which offer the most practical and recognizable form of silver ownership. He stresses that it’s not too late to enter the market, warning that current financial systems are fundamentally unstable and that precious metals represent a critical hedge against potential economic collapse. Timestamps: 00:00:00 – Introduction 00:01:00 – 2025 Precious Metals Review 00:01:41 – Structural Supply Deficit 00:02:29 – Industrial Demand & Vaults 00:03:21 – Backwardation and Premiums 00:06:04 – Historical Interventions 00:07:17 – Gold vs Silver Differences 00:09:30 – BRICS Remonetization Outlook 00:11:42 – Failure to Deliver Risks 00:13:58 – Institutional Buying Trends 00:14:56 – Retail Flows and Junk Silver 00:20:10 – Silver Going Mainstream 00:21:48 – Investment Advice for Beginners 00:23:17 – Fiat Collapse and Great Taking 00:26:03 – Concluding Thoughts Guest Links: Facebook: https://facebook.com/groups/jsmineset/ Website: https://billholter.com E-Mail: mailto:[email protected] Bill was a stockbroker for 23 years and a branch manager for 12. He retired and moved his family out of the U.S. to Costa Rica in late 2006. He returned to Texas in 2011. He was a contributor to GATA since 2007 and began writing for Miles Franklin from 2012 to 2015. He then joined with Jim Sinclair and the Holter/Sinclair collaboration from 2015-2022. Bill is a precious metals expert and broker, he clears through Miles Franklin.

Stijn Schmitz welcomes Chris Vermeulen to the show. Chris Vermeulen is Founder & Chief Investment Officer, The Technical Traders. In this episode, Vermeulen provides an in-depth analysis of current market conditions, focusing primarily on precious metals, equities, and potential economic cycles. Chris suggests the precious metals market may be approaching a potential peak, characterized by high volatility and significant price fluctuations. He believes the market is currently experiencing its “last parabolic phase” and warns investors to be cautious. While acknowledging the excitement surrounding precious metals, he emphasizes the importance of having a strategic approach to manage potential risks. A key aspect of Vermeulen’s analysis is the relationship between stock market performance and precious metals. He observes that the stock market, particularly the Magnificent Seven tech stocks, has not yet experienced the significant pullback that typically precedes a precious metals rally. He anticipates that when the equity market begins to sell off, it could trigger a substantial correction in precious metals. Vermeulen recommends a strategy of following price action rather than getting caught up in market narratives. He suggests investors should be prepared to rotate between stocks, bonds, currencies, and cash positions. He is currently bullish on gold, equities, and potentially the US dollar index, while being bearish on oil and energy sectors. Looking ahead to 2026, Vermeulen predicts significant market volatility. He warns that the current low VIX (volatility) index suggests a lack of market fear, which could be a potential warning sign. His analysis indicates that the market might experience a relatively swift pullback, potentially lasting eight to twelve months, which could create opportunities for strategic investors to re-enter markets at more attractive valuations. Ultimately, Chris’s message is about maintaining flexibility, following technical indicators, and being prepared to adapt to changing market conditions. He emphasizes that successful investing is not about predicting exact market tops and bottoms, but about having a disciplined strategy to manage risk and capitalize on market movements. Timestamps: 00:00:00 – Introduction 00:01:00 – Precious Metals Volatility 00:03:34 – Parabolic Phase Thesis 00:07:56 – Timing Physical Positions 00:09:55 – Market Cycle Analysis 00:13:04 – Equities Rollover Indicators 00:16:12 – Current Investment Opportunities 00:20:54 – Oil Gas Outlook 00:28:22 – 2026 Volatility Expectations 00:30:42 – Technical Traders Service 00:32:08 – Concluding Thoughts Guest Links: Website: https://thetechnicaltraders.com/ X: https://x.com/TheTechTraders 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.