
This is a recording of our live Twitter Spaces event from April 8, 2022. This is the second half of the five hour presentation. Featuring David Morgan, The Happy Hawaaiian and Steve Penny. We also take several listener questions.



Be part of the conversation! Our next live event will occur Tuesday April 19, 2022 at 7PM EST on Twitter. https://twitter.com/palisadesradio

Palisades Twitter Spaces – Live Event Part 2 – April 8 2022

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Tom Bodrovics welcomes back Bob Moriarty to the show. Bob is founder of 321gold and 321energy.com, and a former Marine Corps fighter pilot during Vietnam. Moriarty believes the year 2024 could be catastrophic due to geopolitical issues and a greater financial crisis but sees opportunities in gold and silver, which have broken out and are expected to continue for the next decade. He emphasizes sentiment and China's control of the gold market as key drivers of their prices. Moriarty discusses potential peace in the Middle East after Israel's conflict with Iran, questioning the sustainability of the US sending large aid packages due to bankruptcy.



Moriarty advocates for ignoring external factors like interest rates, currencies, and politics when investing in gold and silver, using sentiment as a useful tool. He highlights China's significant impact on the gold market and the potential negative vote against US treasuries and the dollar. Moriarty expresses concerns about rising interest rates and their impact on real estate markets, especially commercial property. He also discusses the recent surge in base metals as undervalued commodities and a shift towards commodities from overvalued assets like stocks.



Bob emphasizes the importance of understanding current developments in economy and society, including immigration policies, corruption, and diplomacy. He criticizes the increasing divide between ordinary people and the establishment and advocates for conversation and understanding between opposing sides. He criticizes US foreign policy in Ukraine and advocates for diplomacy to resolve conflicts. He also discusses the impact of misinformation on society and expresses skepticism towards media narratives.



Talking Points From This Episode




* He sees 2024 as a potential crisis year but believes in gold opportunities; emphasizes sentiment and China's influence.



* Relative calm in the Middle East is possible after the recent Israel-Iran conflict, but US aid sustainability questioned.



* Misinformation if not outright falsehoods in the mainstream media and the importance of diploamcy globally.




Time Stamp References:0:00 - Introduction0:37 - A Catastrophic Year?2:00 - Whose Driving Metals?4:52 - Warning Signals5:43 - Oil Prices & Iran9:10 - Balance of Power13:30 - Aid to Ukraine19:37 - Measuring Sentiment21:46 - Lessons in FOMO23:24 - Eastern Gold Shift25:10 - Mortgages & Real Estate27:19 - Base Metal Indications28:37 - Government & Corruption30:57 - Reasons for Optimism32:12 - Diplomacy & Conversation37:53 - Alt Media & Opinions43:53 - Wrap Up



Guest Links:Website: http://www.321gold.comWebsite: http://www.321energy.comBooks on 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.

Bob Moriarty: China is Taking Control of the Gold Market


Tom Bodrovics welcomes back Axel Merk, CEO of Merk Investments, who manages investments worth $1.2 billion in gold and related assets. They discuss the ASA closed-end fund, which invests in precious metals mining, processing, or exploration companies, and is unique due to its longer-term focus compared to ETFs. Merk took over management in 2019 and transformed it into an investment vehicle for junior mining companies. This fund helps small development and exploration firms by providing capital during funding rounds and increasing their share prices, making them more attractive to larger investors.



Merk also talks about the potential impact of the Federal Reserve's monetary policies on gold mining and equities during economic downturns or periods of easing financial conditions. He shares his past predictions for a possible recession in 2023 but acknowledges recessions are unpredictable. Merk believes that gold miners provide value over the long term, despite risks, and stresses the importance of risk assessment.



Axel discusses Saba Capital Management's ongoing attempts to gain control over ASA Gold and Precious Metals Limited. If successful, this could negatively impact the mining industry due to potential cost-cutting measures or changes to the fund's mandate. Despite expressing support for ASA as a fund manager, Axel encourages constructive dialogue between all parties. Axel highlights ASA's unique features that make it difficult for activists like Saba to achieve their goals easily. The future implications include continued engagement with Saba or potential liquidation if they gain control, and the importance of shareholder votes in the outcome. Investors are encouraged to stay informed and vote in proxy contests.



Time Stamp References:0:00 - Introduction0:38 - ASA Closed End Fund3:42 - Funding for Juniors10:43 - The Monetary Environment15:26 - Fed & Distorted Data17:57 - Recent Moves in Gold20:50 - Closed Vs. Open Funds25:08 - Strategic Investments26:42 - ASA Board Concerns32:16 - SABA Contested Proxy35:10 - A Call to Shareholders37:30 - Friday Apr 26 Vote41:06 - Future for the Fund?44:33 - Wrap Up



Guest Links:Twitter: https://twitter.com/AxelMerkWebsite: https://www.merkinvestments.com/Blog Post: https://www.merkinvestments.com/insights-and-reports/2024-03-18Website: https://asaltd.comLinkedIn: https://www.linkedin.com/in/axelmerk/detail/recent-activity/Amazon Book: https://tinyurl.com/4ebpcaew



Axel Merk is the President and Chief Investment Officer of Merk Investments, manager of the Merk Funds.



Founder of the firm bearing his name, Merk is an expert on macro trends. He is a sought-after speaker, contributor, and author; Axel Merk's book, Sustainable Wealth, describes how the greater economic universe works, how it might affect your finances, and how to manage those finances to seek financial stability. Axel Merk holds a B.A. in Economics (magna cum laude) and an M.Sc. in Computer Science from Brown University.



Axel Merk founded Merk Investments in Switzerland in 1994; in 2001, he relocated the business to California. He has grown Merk Investments into an investment advisory firm offering investment funds and advisory services on liquid global markets, including domestic and international equities, fixed income, commodities, and currencies.



Axel lives in the San Francisco Bay Area with his wife and their four children. Furthermore, he is a marathon runner and a private pilot.

Axel Merk: How Funding for the Junior Mining Sector is Under Threat


Tom welcomes back to the show, Christopher Aaron to discuss the markets and current geopolitical instability. Although gold prices saw a spike due to recent events between Iran and Israel, they gave back most of the gains shortly after. Christopher emphasizes the importance of considering historical data and long-term trends when analyzing gold price movements.



Chris discusses how the Dow Jones and gold have been trading in lockstep due to the preoccupation with Fed policy. They note that during past bull markets, average investors shifted funds from stock indexes into gold or silver when they underperformed. However, the current cycle shows a flat Dow to gold ratio for the last eight years, suggesting mainstream investors are yet to enter the precious metals sector. The potential implications of this situation and its impact on future market performance are emphasized.



Despite gold ETFs losing gold holdings as mainstream investors sell their shares even during price surges, they predict gold should come back to retest its recent highs before experiencing a multi-year trend of significant new highs. Christopher shares his insights from the 2008 financial crisis and how he now prioritizes price data over fundamental analysis. They also touch upon historical gold price trends, including how gold always retests breakout points after significant price increases.



Christopher discusses the potential catalyst for the Federal Reserve to shift from its hawkish stance being a global or regional war. He suggests that higher interest rates may lead to higher commodity prices and emphasizes the need for markets to reconsider their current beliefs. The conversation then shifts to silver, which has broken its downward trend but faces significant resistance at $30 per ounce. Christopher is skeptical about silver's potential return as a full-time monetary metal in perpetuity but acknowledges the possibility during periods of financial instability.



Chris emphasizes the importance of being aware and prepared amidst current turbulent times while also encouraging listeners not to stop living their lives.



Time Stamp References:0:00 - Introduction1:00 - Geopolitical Tensions4:37 - Sentiment & ATH Gold9:15 - Dow Vs. Gold12:00 - Dow Gold Ratio15:52 - Opportunity?18:20 - Breakouts & Retests23:14 - Fundamentals & China27:00 - Catalysts & Israel32:50 - Inflation Narratives38:30 - Fed Shift?40:33 - Silver & Resistance44:45 - Monetary Silver?45:54 - Miners & Resources51:16 - Jurisdictional Risks55:57 - Wrap Up



Talking Points From This Episode




* Importance of historical data for analyzing gold price movements amid current geopolitical instability; Gold ETFs losing holdings despite recent surges



* Markets ignoring fundamental supply and demand in favor of Fed policy and the potential return of mainstream investors to precious metals sector.



* Predicting gold retesting highs before significant new price trends.




Guest LinksTwitter: https://twitter.com/iGlobalGoldWebsite: https://igoldadvisor.com/YouTube: https://www.youtube.com/channel/UCjG_4Kg7ZWWs8o7EnfnDc9Q



Christopher Aaron is Senior Editor for the precious metals investment portal Gold Eagle.



A former counter-terrorism officer for the CIA and Department of Defense, Christopher has always had an independent analytical outlook. He volunteered to serve two tours to Iraq and Afghanistan from 2006 - 2009, conducting pattern analysis and mapping for the US Intelligence Community in Washington...

Christopher Aaron: We are Experiencing Precious Metals History


Tom Bodrovics welcomes back John Rubino, a former Wall Street financial analyst and author, to discuss the current bull market in gold. Rubino asserts that gold's intrinsic value is significantly higher than its present price, which could reach $5,000 to $10,000 per ounce based on historical analysis. He also posits that a potential collapse of the financial system due to debt could lead to a return to a gold-backed currency or a currency reset.



They explore the implications of inflation and currency devaluation on various assets including stocks, real estate, bonds, and gold. John argues that adjusting investment numbers for inflation offers a different perspective on asset value over time. He warns about potential risks in the financial system, such as a commercial real estate crash or an equities bear market. He also discusses the deficit in the silver market, which could result in significant price spikes and potential defaults on futures contracts.



Despite uncertainty, John suggests investment strategies for investing in real assets like gold and silver. Investors should consider gold as a long-term investment and focus on positive goals during uncertain times to build capital for future challenges. Gold is currently seen as a store of value, but demand for it is minimal but starting to rise. Once gold breaks through resistance and support levels, it could lead to a significant run in the market.



Time Stamp References:0:00 - Introduction0:45 - Gold Market Developments4:10 - Gold Backing & Debt8:15 - Who Will Buy US Bonds?12:45 - Inflation Outlook17:28 - Asset Valuations22 :38 - Gold Drivers & Geopolitics27:26 - Next Financial Crisis?33:10 - Silver & Supply Issues38:10 - Silver Industrial Demand42:38 - Investment Demand & FOMO47:35 - Wrap Up



Talking Points From This Episode




* Gold's potential value increase, reaching $5,000-$10,000 per ounce based on historical analysis.



* Risks of financial panic, potential scenarios like commercial real estate crash or equities bear market.



* Investment strategies proposed to protect against times of crises.




Guest LinksSubstack: https://rubino.substack.comBooks: https://tinyurl.com/5buyvy6v



John Rubino is a former Wall Street financial analyst and author or co-author of five books, including The Money Bubble: What To Do Before It Pops. He founded the popular financial website DollarCollapse.com in 2004 and sold it in 2022, and now publishes on Substack.

John Rubino: What Do You Get When Central Banks are Panic Buying Gold?


Tom welcomes back Ravi Sood to the show to discuss the many changes in the economy and mining industry. Ravi touches upon various topics related to the global financial system, gold prices, and the impact of the 2007-2008 financial crisis. He discusses the lack of significant changes in the financial system since the 1970s and the potential role of Bitcoin in challenging traditional monetary systems. He also highlights the uncertainty and potential risks in the current economic situation due to the pandemic and other factors. The conversation also delves into the importance of investing in physical commodities like gold and other minerals, as well as the role of technology in driving demand for these resources.



Furthermore, they explore the effects of a strong US dollar on the economy and suggests alternative policies to improve trade balance. The discussion also covers the challenges in regulating cryptocurrencies and the potential impact of CBDCs. The gold market is analyzed, with the author noting signs of optimism amidst a perceived bubble, and the mining industry's financial issues are also discussed, along with the interest in renewable energy transition and the cyclical nature of commodities business.



Throughout the interview, Ravi emphasizes the need for a better understanding of the financial system and the importance of making informed decisions based on current economic conditions and potential future changes.



Time Stamp References:0:00 - Introduction3:30 - Gold, Bias & Sound Money10:17 - Global Can Kicking17:42 - A No Win Scenario?20:00 - US Commodity Demand22:28 - Feds Levers & Control Risk26:44 - Bitcoin, Banks, & ETFs33:50 - Commercial Banks & Economy36:05 - Unhedged Mining44:52 - Gold Highs & Reality49:05 - Mining Industry Health56:17 - Energy & GDP Correlation59:00 - 3 Phases of New Energy1:02:20 - Green Energy Storage1:05:04 - Commodities & Capital1:07:18 - Wrap Up



Talking Points From This Episode




* The financial system has not seen a major shift since the 1970s, with concerns about sustainability of the existing monetary systems.



* Physical commodities like gold and other minerals could help the United States address economic challenges by creating jobs and reducing reliance on foreign currency.



* The gold market exhibits signs of optimism for an eventual end to its current bubble, with factors such as increased production and lower interest rates affecting its future.




Guest Links:Website: https://golcondagold.comWebsite: https://evrec.energy



Ravi Sood is Chairman of Golconda Gold and an experienced financier focused on emerging markets. Mr. Sood was the founder and former CEO of Navina Asset Management, a Toronto-based investment firm that was acquired by a major financial institution. Mr. Sood also serves as a director of several companies including Blockchain Power Trust, Feronia Inc., and Eve & Co. Previously Mr. Sood was a director of ICC Labs (acquired) and Elgin Mining (acquired).



Ravi Sood has a bachelor's degree in Mathematics from the University of Waterloo.

Palisades Twitter Spaces – Live Event Part 2 – April 8 2022

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