True Patriot Love - Brian Isted talks Commodity Culture ｜ with Jesse Day

00:00:00.000 welcome back everybody to another edition here i get the pleasure of sitting down with jesse

00:00:09.920 day of commodity culture thank you very much for joining us jesse great to be here brian and very

00:00:15.440 excited to dive into the conversation today me too i cannot wait i came across one of your videos

00:00:22.320 the collapse of canada and how to get out which i thought was just an amazing presentation you did

00:00:28.640 at the cambridge house um to a crowd in bc out there which is i can't recommend enough this the

00:00:35.120 link will be in the description after like please go check out this video if you haven't seen it

00:00:38.960 already check out commodity culture channel there's so many banger interviews on there

00:00:43.520 um that that's where i found you so i guess my first question to you would be

00:00:51.120 did covid break canada or was this something that was a long time coming

00:00:55.440 sort of as soon as Trudeau inherited the helm in 2015. That's a very good question because that's

00:01:01.660 actually where I was going to start regardless of where the line of questioning went because I

00:01:05.420 believe that event is what has defined Canada as it is today in terms of if you're able to make a

00:01:12.780 population accept what were some of the most draconian pandemic measures on the planet which

00:01:18.560 many Canadians didn't understand because they weren't traveling to other parts of the world at

00:01:22.680 that time. They weren't really consuming the media of other countries. So they didn't realize

00:01:26.880 just how extreme things were in Canada. There was only a few countries that were equal or worse,

00:01:32.140 China probably being the worst, Israel, Australia, New Zealand, and Canada. Those were kind of the 0.99

00:01:38.900 worst of the worst. Because if we look at even the worst EU countries, places like Germany,

00:01:45.340 where things got really crazy, they did implement the passport system where you had to show

00:01:51.100 something to go for dinner, but they allowed proof of prior infection. They allowed a PCR test or

00:01:57.000 they allowed an antigen test in lieu of a vaccine paper. In Canada, they gave you no options, which

00:02:03.300 was completely, absolutely insane. But in answer to your question, that's really tough to say,

00:02:08.560 because interestingly, I didn't really start to wake up until COVID hit and these things started

00:02:13.820 coming in. So before then, I was kind of like your average Canadian, not paying too much attention

00:02:18.700 to what was happening politically, going, yeah, Trudeau's a bit of a weirdo, but he seems to be

00:02:23.480 fine. Because again, I wasn't looking deeply into anything, just listening to what he was saying

00:02:27.540 randomly. Sometimes we'd appear on TV and I would think, whatever, he's another politician, but

00:02:32.080 he's not that bad and everything seems to be okay from my perspective. It took the pandemic to kind

00:02:38.640 of wake me up and realize like, well, wait a minute here, something's off. And so a lot of

00:02:44.400 people do point to Trudeau coming into power and putting a lot of policies in place that did cause

00:02:50.620 a lot of damage to the country. And I think there's certainly a case to be made for that.

00:02:55.760 But I think COVID was the event that completely brought to light the dark side of the Canadian 1.00

00:03:02.900 people. And this is sensitive because I'm Canadian, but I think ultimately the problem

00:03:09.940 is the canadian people i think that on average and again it depends where you go but on average i've 0.98

00:03:16.980 found canadians to be some of the most ignorant arrogant people on planet earth who have no idea 0.99

00:03:24.740 of any anything to do geopolitically they cannot grasp you can put direct evidence in their face 0.99

00:03:30.660 of all the wrongdoings and corruption going on in canada and they will literally say you're

00:03:35.780 a trump supporter or i mean i'm being a little bit extreme to make a point here but that's the

00:03:41.780 main thing that woke me up was that after the pandemic restrictions started coming into place

00:03:47.540 and then after they announced you need two shots to go have a beer with your buddies which is

00:03:52.980 complete madness i hadn't given up on canada yet at that point because i wanted to see how the

00:03:59.060 people reacted i thought okay they're gonna try to do this maybe people will push back

00:04:03.940 and there'll be a debate about it and we'll be able to kind of meet in the middle or we'll be

00:04:08.820 able to perhaps you know move forward with more personal freedoms let's see how this plays out

00:04:12.980 because at the time i wasn't sure and what i saw was my fellow canadians not only accepting this

00:04:19.620 but gleefully enjoying it as some kind of status or privilege and berating or putting down those

00:04:27.140 who would not take two vaccinations and that's when i realized doesn't matter i have to get out

00:04:34.180 of this country no matter the cost at the time i was working for an investor relations firm in

00:04:40.340 vancouver so this was i left in october of 2021 and um i was not sure if they were going to keep

00:04:47.620 me on remotely i had already been planning to kind of planning for this contingency that i

00:04:53.060 was going to leave so i'd been saving up some money i had about six months worth of living

00:04:58.580 expenses in like a low cost of living country if if i wanted to move and that was it i didn't know

00:05:04.340 what was going to happen or how i was going to be able to make my way because at the time

00:05:08.340 my youtube channel was in its infancy so i wasn't really making revenue from it yet

00:05:12.900 so it was kind of a situation where i just said it doesn't matter i i will literally you know if i

00:05:19.380 have to figure it out when i get to whatever country i'm going to i'll try to get a whatever

00:05:24.900 low low wage job there it doesn't matter basically this situation is so bad now that i will sacrifice

00:05:32.020 anything to get out and that was also a moment personally for me where i realized okay i actually

00:05:37.300 value my personal freedom more than anything because i didn't know that about myself until

00:05:41.620 all of this came to pass and i realized i have to get out at any cost so in answer to your question

00:05:47.860 i think that things had been trending in the wrong direction but what covid and the restrictions

00:05:53.460 surrounding it did was give the government moving forward a carte blanche to do anything

00:05:59.860 literally anything because the population will just accept it because they cannot not accept it

00:06:06.020 because the cognitive dissonance would be too great for most canadians to turn around and then

00:06:12.020 say wait a minute was all that stuff during the pandemic appropriate was that illegal was that i

00:06:18.500 mean we look at what happened with the the the freedom convoy and the fact that declaring the

00:06:23.860 emergencies act the court of appeals has now said that was illegal well nobody cares so how does

00:06:31.220 that matter nobody's held accountable think about this the former president of south korea has just

00:06:38.420 been sentenced to life in prison essentially i believe 20 30 40 years something crazy like this

00:06:44.420 he's already in his 60s so essentially life in prison for fault for illegally declaring martial

00:06:51.380 law for less than one day and nobody got hurt nothing happened that nothing bad happened so

00:06:59.300 the army got mobilized but there was no actual conflict with the citizens that nobody got injured

00:07:04.740 nobody died that and he just got sentenced to essentially life in prison for that in fact

00:07:11.380 south korea has a history of sending their presidents to jail i should say when when

00:07:15.140 they proved to be corrupt but in canada there's absolutely no accountability and there's no

00:07:18.900 accountability with the people that kind of starts with the people if nobody's really willing to care

00:07:23.460 about that and the problem with canadians or a lot of them is that they have this idealized view

00:07:29.860 of canada as a country thank god we're not america that's always the thought those americans they're 1.00

00:07:36.020 so stupid they have trump how evil is trump i believe trump is evil i i think he's probably 1.00

00:07:42.020 the worst president in u.s history at this point i think a lot of people would agree with you 1.00

00:07:46.900 yeah but what does that have to do with what's going on in canada you know what i mean

00:07:51.060 and so we've entered this stage now where the population is not willing to push back because

00:07:59.060 like i said it's a cognitive dissonance if you dedicated your whole life to following these

00:08:04.820 government objectives during the pandemic and not only that but ostracizing and bullying others who 0.73

00:08:10.100 didn't follow them no matter how ridiculous they were you cannot look back and correct yourself

00:08:17.620 and say i did i'm sure some people have it's not impossible but it takes a really special type of 0.60

00:08:23.060 human to do all of that to go through with with something that that's that evil and then to turn

00:08:29.620 around and say you know what i'm totally wrong how can i write this or i should apologize to the

00:08:34.420 people that that i you know turned away because they didn't want to take the shot so in until

00:08:40.020 and and i'll just add one more caveat because it's a bit of a rant but but the last thing i want to

00:08:43.860 add is the fact that during the pandemic and what ultimately triggered me to leave sooner than i

00:08:49.780 wanted to was the fact that the government committed one of the most brutal crimes in

00:08:56.180 modern history of any g7 or modern western democracy which is to stop people from leaving 0.95

00:09:02.100 the country if they didn't take two shots that was literally evil beyond any measure because

00:09:11.540 australia did the opposite by the way australia and canada were very lockstep with with the

00:09:16.100 policies they were implementing leading me to believe there was some sort of communication

00:09:19.620 i mean i'm sure there was a communication happening globally but interestingly

00:09:22.740 that there seemed to be a big connection there australia wouldn't let their citizens in the

00:09:26.500 country which is also completely insane both are completely insane in different ways

00:09:31.940 until that's addressed until we go back and say that was one of the greatest human rights

00:09:38.260 violations committed by a country in modern history and it was unprecedented and unethical

00:09:44.180 and illegal and who who implemented this and we need to convict them and then we need to make

00:09:50.180 sure everybody understands that this was wrong unless that happens it's over it's absolutely

00:09:55.780 over because to allow that to pass and then to now live in society you're now living in a complete

00:10:03.540 fantasy in a fictional dystopian world where evil is good and good is evil and and actually maybe

00:10:11.700 Maybe we'll get into this a little bit later, but I believe that the people who are manipulating Canada from behind the scenes have an objective to turn evil into virtue and vice versa.

00:10:19.960 And that's behind a lot of the policies you're seeing implemented in Canada today.

00:10:24.840 Man, there is so much to unpack there, but I don't think I could have said much of that better myself.

00:10:30.740 The only thing I would add to it coming from the perspective of still serving but soon to be releasing VET at the time was watching the government.

00:10:41.000 and I've, again, I've learned this through ATIP requests. Like I used to be an intelligent,

00:10:45.080 I was an infantry officer, police officer, intelligence officer, or intelligence analyst,

00:10:49.400 special operations for a very short time, sort of at the end of my career. But I know how to

00:10:52.940 find information. I know how to follow patterns. And I found information that the government turned

00:10:59.040 on the special operations community on the Canadian populace. And it was reported on very

00:11:04.300 early in 2022. I didn't see it. But once I found that, I was basically checked out of

00:11:08.700 the military i was checked out of canada for the most part and like you're nailing it on the head

00:11:14.200 of people just blindly willfully blindly going along with everything like again you're the

00:11:19.920 collapse of canada and how to get out is such a good video please go check that out if you haven't

00:11:23.740 seen it already um i do want to kind of pivot a little here to get into more your expertise in

00:11:29.540 the commodity space because i think there's a huge thing here that a lot of canadians don't know and

00:11:34.960 it's that canada has zero gold reserves can you sort of dive into that a little bit and explain

00:11:40.960 why that matters and the horrific potential side effects yeah it's a very bizarre thing

00:11:47.760 um and that that's why i outlined in my talk it has to be by design to some extent because

00:11:53.120 the people who are running the central bank and the economists behind the scenes have to be aware

00:11:58.240 how catastrophic it is especially when we're living in a time in history over the past few

00:12:03.440 years where central banks have been accumulating gold at a very rapid pace most believe and and

00:12:08.800 i tend to agree that this was largely driven by the us and its allies seizing russia's fx reserves

00:12:15.280 after they began um the the war in ukraine the special military operation however you want to

00:12:20.720 define it um and so that made nations around the world kind of wake up and realize okay we need a

00:12:27.120 neutral reserve asset that is nobody's liability and that we can hold physically within our own

00:12:33.780 jurisdiction. So it's impossible to seize outside of outright ground invasion. And of course, that

00:12:39.660 is gold, which has been money for over 5,000 years, which has proven itself time and time again

00:12:45.740 to be kind of an accurate barometer of the health of the global economy. And gold rising is often

00:12:52.980 not necessarily a sign that gold is becoming more valuable, but the value of the currencies

00:12:57.800 are falling versus gold, which is essentially a measure, an honest measure of true wealth and

00:13:04.940 true money. And so to not have that neutral reserve asset at all is tantamount to just

00:13:12.340 asking for complete and total collapse if we do enter a phase where the fiat currency system

00:13:19.000 is under duress. Now, it's interesting because there's a lot of hyperbole around this topic.

00:13:25.000 There's a lot of people who will say that the US dollar is dying or that fiat currencies are

00:13:30.520 going to hyperinflate all around the world. We're reaching the end game. And so it ends up kind of

00:13:35.960 being an urgent message and that gets a lot of clicks online. The truth is we don't actually

00:13:41.580 know how much longer this experiment could go on because around the world, we've been under a

00:13:46.860 global fiat currency system since the 70s when Richard Nixon removed gold backing from the

00:13:53.640 dollar we've never been in a time in human history where there's literally been no currency that is

00:14:00.280 backed by gold whatsoever because prior to Nixon removing the dollar from gold backing we had the

00:14:05.800 Bretton Woods system which was essentially it's a little complicated but to simplify it it's that

00:14:11.040 the US dollar is backed by gold and most of the world's major currencies are pegged to the US

00:14:16.660 dollar. So in that sense, even though those countries don't necessarily have physical gold

00:14:21.040 to back their money, the US did. It was supposed to be, keep everybody honest. Obviously, we got

00:14:27.420 into a situation where the US needed to print money to fund the war in Vietnam. And so that's

00:14:33.040 a big part of what drove Nixon to go, you know what, let's figure out a way we can just print

00:14:37.500 this stuff and we don't actually have to have the requisite amount of gold in the vault and um

00:14:41.880 that created rip ripples throughout the global economy that still persist to this day it's one

00:14:48.500 of the most disastrous decisions and policies ever implemented probably in modern human history

00:14:54.740 and um the fact that canada has not protected itself with gold means that if we do enter that

00:15:01.300 end game scenario if we do find ourselves in a place where fiat currencies start to hyper inflate

00:15:06.760 or even let's say the Canadian dollar starts to hyperinflate,

00:15:09.500 which means that you get inflation at a massive level.

00:15:13.560 I think hyperinflation is technically 50% in a year.

00:15:18.180 But in many cases...

00:15:18.880 Something like a Venezuelan event over the last decade or two.

00:15:23.280 Right, right.

00:15:24.520 And, you know, there was hyperinflation in Zimbabwe.

00:15:28.380 The classic example is the Weimar Republic in Germany post-World War I.

00:15:32.720 um hungary in the past has experienced incredible hyperinflation so these events can happen but so

00:15:39.520 far they've only happened in isolated countries as opposed to a worldwide global phenomenon um so

00:15:45.780 the the thought is that if the u.s dollar being the world's reserve currency because of course

00:15:50.640 the way that the u.s dollar allowed themselves to keep dominance and supremacy over the world

00:15:55.940 after removing gold backing is to go to the saudis and tell them you need to sell all of your oil

00:16:01.840 using U.S. dollars only. And in return, we will offer you military protection. We will offer you

00:16:07.100 this. And that agreement is what created the petrodollar, what's called the petrodollar,

00:16:12.200 and has allowed the U.S. dollar to maintain its dominance over time. So it's a simple fact that

00:16:20.220 if we do experience hyperinflation in the U.S. dollar at some point, that is going to probably

00:16:25.060 cascade to many, many other currencies around the world, the Canadian dollar being one of them.

00:16:30.260 and in that situation you want to have gold to be able to as a ballast to be able to protect

00:16:37.160 the wealth of the country so that in the event of a currency plummeting at least you have a real

00:16:42.560 hard asset that in that case in a hyperinflationary event gold will go absolutely ballistic to the

00:16:48.420 upside and act as kind of a protection mechanism against that the classic example in weimar

00:16:53.620 germany is that there came a point where you could buy a house a big house with an ounce of gold

00:16:58.600 um and if you look over time in terms of purchasing power gold has kind of basically over time held

00:17:05.040 its purchasing power so if you go back to like the roman empire you could buy a fine toga and

00:17:11.060 an outfit for an ounce of gold and if you come to today it's about the same an ounce of gold will

00:17:16.960 buy you like the finest suit the finest outfit and there's many other examples that you can look to

00:17:21.380 throughout history where gold is essentially maintained purchasing power as fiat currencies

00:17:26.720 have inflated um but canada's playing a dangerous game by having zero gold reserves and there's

00:17:33.520 basically no other country that's doing that in the world that is a serious country and that leads

00:17:39.600 me to believe that perhaps it could be an intentional policy and so if we were to see a

00:17:45.040 total collapse perhaps there's some sort of central bank digital currency system i know they've been

00:17:49.760 floating that idea or some way to implement a system to create this digital slave network

00:17:56.720 where they start to potentially introduce universal basic income and these different

00:18:01.280 types of things where here is your new canada fed wallet whatever it's going to be

00:18:08.720 they would then get people to buy in by giving them a thousand dollars for free the canadian

00:18:12.800 government likes to give out these little bits of money to people that is already stolen from

00:18:17.120 them through inflation which is so crazy to me we're gonna give you a grocery support of whatever

00:18:22.640 hundreds of dollars or a thousand dollars but the inflation you caused is worse than the money

00:18:28.000 you're giving so it's like you're just punishing me a little bit less um so they could potentially

00:18:33.680 do that introduce some type of cbdc get the population to buy into it which canadians would

00:18:37.920 buy into it right away do you think it's likely that that'll come because that was actually my

00:18:42.800 next question so it's perfect do you think it's likely we'll see that maybe not necessarily the

00:18:46.960 hyperinflation piece but cbdc stablecoin all of its programmable surveillable you drive too much

00:18:53.440 you eat too much beef they turn it off kind of thing do you think that's coming so that the whole

00:18:59.440 driving too much and reducing your carbon that could be a possibility i don't see them launching

00:19:06.400 that in a near-term time frame i see them slowly trickling because that's how governments work

00:19:12.160 when they want to implement radical policies they do uh a little bit at a time and one of the

00:19:18.960 strategies i've heard of which the canadian government has certainly implemented and which

00:19:22.320 makes sense is you push it a little too far you let some backlash happen and then you step back

00:19:29.120 50 so you only wanted that 50 to begin with so you push to 100 and then people complain or push back

00:19:36.960 and then you bring it back to the 50 which you wanted to begin with so it's a super effective

00:19:41.600 method of getting people to accept restrictions and limitations in a step-by-step method and so

00:19:48.800 i think that they'll probably slowly roll it out at first they'll probably launch it with some sort

00:19:54.240 of like i said a free incentive 500 if you sign up within this time frame and uh and then once

00:20:01.920 once you're in the system they can kind of more easily start to offer you incentives to receive

00:20:07.520 payment in this digital wallet as opposed to regular dollars so there could be a scenario

00:20:12.160 where we have regular canadian dollars and this central bank digital currency running parallel

00:20:18.000 and then the goal would be to eventually phase out the canadian dollars and they could do that

00:20:22.480 slowly over time through incentives and restrictions until we eventually get to a point

00:20:28.400 where you know they can put time limits on it these restrictions like you're talking about you

00:20:32.320 can only use it to purchase certain items you know of course you want to be a conscientious

00:20:36.560 environmental person so you're only allowed to buy a certain amount of product x or y depending

00:20:41.760 on how much carbon is calculated to emit um this is all ultimately these people want to enslave

00:20:47.760 the population and they want to depopulate uh canada as much as possible because it's much

00:20:53.520 easier to rule over the ashes and and just extract wealth as much as possible from the the smaller

00:20:59.440 group of slaves that's left i know this stuff sounds extreme and it took me a while to to get

00:21:04.560 where i am today um of kind of digging into it and thinking about it deeply but when you think

00:21:10.800 about when you think about policies being implemented in canada the catch and release

00:21:15.280 of dangerous criminals again and again and this isn't unique to canada this is across the western

00:21:19.920 world and i think the same elite network is behind all of it um but these catch and release the the

00:21:27.360 the increase in in made which we were speaking about briefly before we hit record today

00:21:32.560 and and so many of the policies if you think about it from the perspective of the people

00:21:37.120 implementing these policies are power hungry psychopaths so they're devoid of empathy they

00:21:43.840 revel in the death of their citizens or or they want to kill as many people as possible it helps 0.63

00:21:48.960 them sleep at night these are concepts people don't understand but people have to understand

00:21:53.520 psychopathy and how it works and the extreme psychopathy of this network that has uh created

00:21:59.520 the the conditions under which canadians are living today when you look at it through that lens

00:22:04.560 things start to make way more sense as to why they're doing x y or z because it's not incompetence

00:22:09.840 there's that old saying never attribute to malice what you could to incompetence

00:22:13.760 i think it's actually the reverse in western countries today whenever you think it's

00:22:18.160 incompetence you should look first to the fact that it's probably malice unfortunately i i i

00:22:24.320 I heard you use the Hanlon's razor reference in your, again, your first video that I came across, and I thought it was bang on again. 0.98

00:22:31.640 And I agree with pretty much everything you said there.

00:22:35.660 And it's interesting to know that people in sort of the finance space like yourself are taking the time to think deeply about these subjects and consider what's hyperbole, what's realistic, what kind of time frame are we looking at?

00:22:46.600 and then something you brought up again and sorry to keep going back to this but i love this first

00:22:50.700 video so much um referencing mark carney was heavily involved in the trudeau government when

00:22:55.780 people's bank accounts are being switched off so if you think that this was a trudeau-led initiative

00:23:00.640 or christopher freeland you know what i mean was acting with some kind of autonomy like carney was

00:23:04.360 along for this ride and probably instigating and instituting everything that happened and then

00:23:08.880 the elbows up psyop happened and we basically elected trudeau again but somehow worse fiscally

00:23:14.800 and uh leading to all the problems and more that you just alluded to which kind of goes very well

00:23:21.480 into my next question here so like why is canada so historically horrific at managing our natural

00:23:28.420 resources things like oil you know what i mean mines that we often sell off or underfund in

00:23:33.560 terms of exploration like what got us here and what can we do about it well things actually

00:23:39.600 aren't as bad as a lot of people think because at the end of the day the canadian government

00:23:45.360 does realize how its bread is buttered and they can't exactly go around completely shutting off

00:23:50.640 the oil and gas industry for example they know that they need these industries to fund themselves

00:23:55.840 and their own grasp on power because if they were to just shut down all natural resources extraction

00:24:01.120 they would stand a big risk of losing their own power and their own wealth so they're selectively

00:24:07.040 shutting down certain aspects in terms of not building new pipelines in terms of uh perhaps

00:24:13.360 not granting permits in a timely fashion in fact permitting for the mining industry in canada

00:24:17.760 could be an absolute nightmare let's say you discover a gold deposit and generally what

00:24:22.480 happens in that case is the company that discovers it isn't the one that brings it online they will

00:24:26.640 then sell it to a larger player or to a developer who's going to develop it and bring it to

00:24:31.520 production then perhaps even a bigger player comes in so that there's a chain that happens

00:24:35.120 there in terms of the the ownership of that asset but ultimately when it gets time to build the mine

00:24:41.600 and you're leading up to that the amount of studies that need to be done the amount of

00:24:45.600 indigenous groups that need to be consulted with depending on which area you're in then you need

00:24:49.680 to pay them all their cut and then another one comes out of the woodwork at the 11th hour and

00:24:54.640 says wait a minute what about us we didn't get paid and or somebody will object and so there's

00:25:00.320 such the regulatory red tape is the thing that is the real stranglehold on the resource industry in

00:25:06.160 canada so it needs to be massively deregulated and that all plays into the government's command

00:25:12.960 and control strategy in that they they need a certain amount of money to come from the natural

00:25:19.440 resource sector but they don't want to leave it completely open to business because they want to

00:25:25.040 control that as much as they can extract as much wealth as possible from those individual projects

00:25:30.800 and they could care less if there's a project sitting on the sidelines for 10 20 years

00:25:34.720 as it waits for approval and goes through all these different environmental studies

00:25:38.240 all the red tape that's involved so deregulation needs to happen interestingly some of my largest

00:25:44.320 investments are in canada i said that when i was when i started off my presentation especially

00:25:49.120 because it was a bit it was a bit stressful because i was giving this presentation in between

00:25:54.000 mining company ceos who had paid to be their canadian mining company ceos to pitch their

00:25:59.360 project and say okay now here's xyz company talking about their gold mine in bc or whatever

00:26:04.640 now here's some guy talking about the country's about to collapse but i but but truthfully i i

00:26:10.640 do believe that yeah it was kind of funny um but but i do believe that canada's resource industry

00:26:18.160 is very investable particularly the oil and gas space considering how cheap a lot of these

00:26:22.240 companies are the uranium sector the athabasca basin in saskatchewan is the saudi arabia of

00:26:27.120 uranium the highest grades in the world the largest deposits in the world and um that there's

00:26:33.600 a lot of investable companies in that part of the world um so it's not a lost cause at present it's

00:26:39.920 just that there's so much more that could be done you know i've heard recently that they imported

00:26:45.440 lng from australia or something on on the east coast of canada which is totally crazy we have

00:26:50.640 such an abundance of natural gas and such an abundance of oil that we should be focusing in

00:26:57.040 and honing in on that more than putting red tape and regulations but the interesting thing about

00:27:02.400 carney is i think in a way he's playing both sides so he's advancing projects he's spoken

00:27:10.400 recently about fast tracking mineral resource extraction but at the same time he realizes a

00:27:16.080 a huge part of the liberal voter base, are very extreme environmentalists. So you have to also,

00:27:22.260 at any chance you get, talk about renewable energy, talk about reducing carbon, talk about

00:27:28.300 shutting down oil pipelines or perhaps not building them. So I think in a way, he's being a

00:27:33.540 little bit strategic about it, trying to appease his voters. And at the same time, we're moving

00:27:38.740 forward to extract a little bit more of wealth from the natural resource industry in Canada.

00:27:44.740 so I don't see a bleak picture for that as an investor but of course so much more could be done

00:27:51.760 in terms of deregulation and we need to start getting these indigenous groups under control 1.00

00:27:56.320 in terms of how much they're allowed to ask for and how many of these different groups you have

00:28:00.360 to consult with I mean what's going on in BC right now is crazy with you know land now being

00:28:05.940 being told okay this is now traditional indigenous land well what does that mean I mean it's getting

00:28:10.800 crazy in that sense um but you're talking about the musqueam the musqueam 2.5 million homes in

00:28:17.740 vancouver being handed to a native a native association is what you're referring to just in

00:28:21.960 case the folks are not are not sure what's going on but it's absolutely wild and um it's wild and

00:28:27.720 it doesn't bode well for resource extraction in british columbia in particular because now that

00:28:35.240 this has happened it sets a bit of a precedent you know show me the incentive i'll show you the

00:28:38.920 outcome is the famous Charlie Munger quote now other indigenous groups are going to be going wow 1.00

00:28:43.680 okay well maybe we can get like a whole gold mine you know what I mean maybe we can get all these

00:28:49.840 resources now if we can prove that this belongs to us traditionally so I'd be sweating a little

00:28:55.460 bit right now if I was the CEO of a mining company that operates in British Columbia

00:28:58.960 and we just have to hope that this doesn't spread too much around the country and remains kind of

00:29:03.380 isolated incident so many so many good points there again so because of this red tape that

00:29:10.260 causes a lot of the headache and uh chronological delay like time frames always being pushed to the

00:29:16.100 right do you do you think that that help that represents risk or additional risk to foreign

00:29:22.260 investment that otherwise typically would be investing in canadian commodities yes it

00:29:27.220 represents risk to all investors whether foreign or domestic because you you can look at these

00:29:34.980 you know companies put out various economic assessments to basically try to um describe

00:29:43.860 the value proposition of investing in that particular company so they they find out they

00:29:49.460 do studies to find out what's the all-in sustaining cost of taking for example an

00:29:53.060 ounce of gold or a pound of uranium out of the ground and they they provide an a net present

00:29:59.060 value calculation which lets you know the value of the resources they have under the ground in

00:30:03.460 today's dollars an internal rate of return which is a number you look at a percentage that you look

00:30:09.060 at to see if this is a favorable investment decision or not and all of those numbers that

00:30:14.900 people refer to can be meaningless if a mine never gets you know permitted in time so actually it's

00:30:21.060 the biggest jurisdictional risk in canada people talk about jurisdictional risk and there's different

00:30:26.020 kinds there's ak-47 risk in places like niger and other african jurisdictions and then there's and

00:30:33.220 and you also have the risk of course of government corruption nationalization of resources but in

00:30:38.820 canada your big risk is permitting times and government red tape it's a massive risk so that

00:30:44.740 means you have to be very careful and selective with which projects you invest in how early stage

00:30:49.940 are there? What is the relationship of this company with the government? How far along are

00:30:55.120 they in getting their permits? What other regulatory hurdles remain in front of them?

00:31:00.080 Because a company can have the greatest economics in the world, the greatest deposit in the world,

00:31:04.780 but if it's not going to come online for 10, 15, 20 years, unless you're willing to hold for that

00:31:10.260 long, and in the meantime, a whole bunch of other problems could crop up, I think it's something

00:31:15.480 that all investors need to really pay attention to and to be really careful so that's why ultimately

00:31:20.600 for most people it's better to invest in a company that is already producing the resources and not

00:31:26.200 an earlier stage company that's maybe in the exploration or development they haven't moved

00:31:30.440 through to the permitting phase yet unless they're already well along in that process or you can see

00:31:35.800 they have they have a really good relationship there these are all can be very opaque things

00:31:39.720 to look into but it's it's a factor that all investors need to consider when it comes to the

00:31:44.040 the Canadian resource industry. I can speak from experience that I've had violent movements in

00:31:51.820 stocks of junior miners that I've held with a press release of exactly what you talked about.

00:31:57.260 It was a native community all of a sudden, you know what I mean, staking a larger claim or some

00:32:02.560 kind of, you know what I mean, they wanted a bigger piece of the pie of a mine in the area

00:32:07.660 that previously, you know, I guess didn't belong to them. Or there was some kind of, like you said,

00:32:10.940 opaque area that pushed the price way down. Then you have all these talks and it just everything

00:32:16.420 you're saying, I've experienced firsthand. So I know exactly the pain and the delays that all

00:32:22.000 this stuff causes. Without any of this being perceived as sort of financial advice, because

00:32:27.620 that's not what this channel is about. And please don't take any of this literally. Like, are there

00:32:31.900 companies you think now that are maybe a junior, maybe a major that are either on the about to

00:32:36.680 become you know i mean very successful or about to sort of break new ground in that area which

00:32:40.920 is there any you'd list specifically yeah so ultimately i generally stay away from the junior

00:32:47.160 mining sector um simply because i'd rather not take the risk and the fact that i believe that

00:32:53.800 we're in a resource bull market and we're going to see a lot of these commodities get repriced

00:32:59.560 drastically to the upside that they already are just look at what gold silver and uranium have

00:33:03.800 done um i don't think you need to swing for the fences i'd rather get a comfortable two to three

00:33:10.440 x and take much much less risk than go ahead and try to get into the weeds on some junior

00:33:17.720 explorer or something that could 10x if it gets all it's if everything goes well but has a higher

00:33:23.320 probability of going to zero so i i would direct most people to etfs i think that's just the best

00:33:29.080 way to go so for example the sprout physical uranium trust that's the premier physical

00:33:34.680 uranium fund so if you look into the i think uranium has the best risk reward ratio the

00:33:41.480 highest asymmetric uh probability of it going to the upside than any commodity in the world right

00:33:46.760 now so if you've looked into the uranium story and you agree why not just buy the physical uranium

00:33:52.840 which is that the spot physical uranium trust is a vehicle that actually purchases physical

00:33:57.560 uranium pounds and stores them in warehouses and just takes it off the market so that that uranium

00:34:03.560 is no longer accessible to utilities to power nuclear plants so it essentially it it helps put

00:34:09.240 the price up a little bit but it's also just betting on the commodity itself um i would

00:34:14.520 recommend the same thing with gold and silver just buy the physical gold and silver um now

00:34:20.120 when if if you want to get into the mining space you can buy one of the indexes the gdx

00:34:25.160 is the main um etf that holds a basket of the major gold miners sil is the one for silver miners

00:34:32.920 you could go into gdxj or silj which is more juniors but at least you get a diversified basket

00:34:38.040 of them so that's where i'd look as a resource investor but if we're talking about canada and

00:34:44.280 and also oil of course there's several etfs for for oil companies um xle is the main one in the

00:34:50.040 us and there's a few different ones for canada as well but when it comes to individual companies

00:34:55.720 in uranium i think you got to look at the giant which is cameco they're in the athabasca basin

00:35:01.080 they're the second largest uranium company in the world um they are producing uranium right now

00:35:08.520 there's no other company in canada right now they're just producing uranium in any

00:35:13.560 quantity that matters um so i would look to cameco um and then potentially denison mines

00:35:21.160 is most likely going to be the next company to produce in fact they've technically already

00:35:26.120 started producing with a rano which is a french company that is active in the athabasca basin as

00:35:31.640 well they're one of the world's biggest uranium companies they own a percentage of a deposit

00:35:36.760 there that they've started mining so they actually are they they do have exposure to a certain amount

00:35:41.080 of uranium production but they are looking to bring their main projects online and it looks like

00:35:46.200 they've been given final approval or very close to final approval to move forward with construction

00:35:51.160 um so that would probably be the next up-and-comer in the athabasca basin you have next gen energy

00:35:57.160 which has the world's largest best highest grade undeveloped uranium deposit like anywhere on the

00:36:03.560 planet in fact it's one of the greatest resource deposits of any commodity on planet earth right

00:36:09.160 now now their timeline to productions more like 2028 to 2030 probably 2030 or later but

00:36:17.800 they are the second largest uranium company in canada by market cap size after cameco and because

00:36:23.800 their deposit is so great they are most likely going to be the beneficiary of institutional

00:36:28.840 investment once more institutional investment starts to enter the sector as this bull cycle

00:36:34.200 becomes more clear to the broader market so those are the main kind of uranium companies and that's

00:36:39.560 kind of my my area of expertise when it comes to oil and gas like i said stick with the majors

00:36:44.760 um canadian natural resources synovus energy um you want to get into a little more mid-cap you

00:36:50.280 can look at white cap surge energy the great thing about the oil and gas space right now

00:36:55.000 is they're paying generous dividends they're buying back shares and they're paying down debt

00:37:00.760 that is their main objective most oil and gas companies right now so if you believe over the

00:37:05.960 long run the oil price is going to go higher and the natural gas price is going to go higher

00:37:10.520 you get paid while you wait some of these companies are paying six seven eight percent dividends so

00:37:16.840 you're if you believe oil is going up anyways why not and a lot of these companies are trading

00:37:21.960 into very attractive valuations what why not buy that sit on it get your dividend let them buy back

00:37:27.800 shares and pay down their debt. And as the oil price rises, then you'll get the re-rating in

00:37:32.700 the companies to the upside. But the one caveat I will say to all of this is that if you're

00:37:37.720 entering the resource sector, you have to be prepared to stomach gut-wrenching volatility.

00:37:43.000 This is especially true in the uranium sector. It's probably the most volatile

00:37:46.120 sector in the entire commodities market right now. But in general, you have to have a long-term

00:37:51.980 outlook and you have to realize that commodities are cyclical. So while you still have to have a

00:37:56.800 long-term outlook you have to realize this is not a set it and forget it type of investment like

00:38:01.040 investing in an index fund and counting your days till you retire you know 20 30 40 years down the

00:38:06.120 road you have to realize commodities are cyclical and there will come a time where prices get too

00:38:10.800 high and they then tend to drop off dramatically on the other side so you also have to have an exit

00:38:17.240 strategy and it's way better to exit the party early than to exit the party once the lights are

00:38:22.760 shut off and the DJ's packing up his gear because then it's game over yeah fair enough and I'm very

00:38:29.180 glad you brought up the energy sector as well because as someone who sort of relatively new

00:38:33.980 to this game and I've done my due diligence but I don't understand why like obviously the Iran 1.00

00:38:38.980 war is happening now and I think when we book this this podcast I don't even think it had kicked

00:38:44.000 off yet so oils you know what I mean starting to surge and I know that can be a temporary effect at

00:38:48.360 beginning um but why in canada are gas prices so high or not so high but starting to climb

00:38:54.920 up with this iran war if we refine and produce gasoline domestically well i don't know that all

00:39:00.920 of canada's gasoline is refined domestically that's one statistic i would need to i would

00:39:06.360 need to look at because i i'm not sure about that i think i looked it up i think it's 70

00:39:10.600 percent is what i like told me so like the vast majority i would say yeah see that's interesting

00:39:18.280 because i don't live in canada so i don't pay attention to gasoline prices there um you've seen

00:39:23.800 this rise since the war kicked off you've seen a sharp increase is that what's happened yeah well

00:39:30.360 right now i'm in the southern u.s and it's definitely had a pretty sharp increase here

00:39:34.200 but i was paying attention to canada and it's had a jump i don't think as big of a percentage of a

00:39:38.280 jump but still a jump that seems to be unexplainable given that we don't need to resource our gas from

00:39:44.920 anywhere where the refineries are being blown up like we have our own so i guess what i'm looking

00:39:49.400 for is like sort of explain to me like i'm five why i mean we we're not paint like the scarcity

00:39:55.800 in canada is not there but we're still being gouged yeah interesting other statistic to look

00:40:02.120 at would be how much of canada's oil is imported because in like i just talked about this lng deal

00:40:08.600 with australia where a bunch of lng was shipped to canada which makes no sense whatsoever so although

00:40:13.320 the refining capacity could be there 70 as you said i'm curious how much of canada's oil itself

00:40:18.920 is actually imported from other countries which could certainly play a role now as the oil price

00:40:23.720 rises in general we also have to consider that the cost of everything can go up because energy

00:40:28.440 is the main input into everything that's going on, including deliveries, all of the food

00:40:34.880 deliveries, the cost of producing food, the cost of producing everything. But that's interesting

00:40:40.320 because normally these things have a more longer, it takes a longer time for these effects to kick

00:40:45.000 in because oil surged recently. I think, I don't know if we're around $90 or at least in the mid

00:40:51.600 80s as we speak. It takes some time for that to trickle down, I think, into the broader economy.

00:40:57.480 what that might tell me is that inventory levels are low and in that case they need to buy oil

00:41:03.940 more recently to then refine into gasoline that's just a theory that could be part of it

00:41:08.560 i would look at how much of canada's oil is imported what type of oil it is that's being

00:41:13.700 refined into gasoline um and and if that's all coming from canada or not i would guess that's

00:41:18.460 not the case so those are some factors i would look at obviously of course we know about the

00:41:23.060 taxes that have driven the prices of gasoline much higher than it needs to be as well. So those are

00:41:29.100 just some educated guesses, but I don't actually have the answer. No, that's fair enough. And that's

00:41:34.140 more or less kind of what I expected to hear. But as someone who's not an expert in the space,

00:41:39.420 it's good to hear from folks like yourself. Something else that I was sort of in the back

00:41:44.020 of my mind that's been taken up a little bit of bandwidth is the COMEX manipulation and the lack

00:41:49.560 sort of government intervention can do you have any uh anything to add or like what's going on

00:41:54.200 there yeah so i have a lot of guests that come on my show that talk about manipulation of precious

00:41:59.000 metals it's a real thing markets in general are fairly manipulated i mean we look at things like

00:42:05.720 the president of the united states releasing a crypto coin and then rug pulling everybody

00:42:10.280 his wife release a crypto coin you have you know phone calls being made before certain events happen

00:42:16.920 to industry insiders people who are close to certain politicians the politicians themselves

00:42:21.880 who are close to ceos of certain companies and before events happen you see markets move because

00:42:27.240 those insiders are acting on insider information so there's a ton of manipulation actually we don't

00:42:32.440 have a free market right now in the world there's free market characteristics to it and that's why

00:42:37.960 it's so important as an investor to be paying attention to what policies are being implemented

00:42:43.000 to be to pay attention to what's happening geopolitically what decisions are being made

00:42:47.240 by those in positions of power because you need to kind of that there's no way to predict these

00:42:52.120 things but it gives you a better lay of the land you can't invest just thinking oh it's a free

00:42:57.000 market and everything's just gonna you know the efficient market hypothesis i've eugene famine

00:43:02.440 kenneth french came up with this and it's interesting but it's it's nonsense because

00:43:05.880 there's at this point in time we don't have efficient markets there's mispricings everywhere

00:43:10.200 for a variety of reasons but when it comes to precious metals there's a history of precious

00:43:14.680 metals spoofing um which is another way of saying manipulating it jp morgan has been fined large

00:43:21.320 amounts of money some of their people even went to jail for a certain amount of time but it doesn't

00:43:25.800 matter for most of these companies because they essentially make more money on the trade than they

00:43:30.440 do paying the fines now the question becomes how effective is this manipulation because

00:43:36.920 we we've also seen some shady things happening at the comex with like oh our cooling system

00:43:41.000 stopped working as silver was surging and they had to like shut down for several hours when silver

00:43:46.280 dropped 26 in a single day i've spoken to a few different analysts who say there's supposed to be

00:43:51.400 circuit breakers that trigger once it drops more than a certain amount within an hour's time

00:43:56.920 and supposedly that happened and those circuit breakers were never triggered so that's also very

00:44:01.960 strange that would suggest that perhaps the comex itself is complicit in manipulation in collaboration

00:44:08.920 with these large banks and and these institutions who take short positions and then and then

00:44:15.000 essentially sell paper contracts into the market to drive the price down in massive amounts that's

00:44:20.120 essentially how it works it's it's much more complicated than that i have a hard time wrapping

00:44:24.120 my head around it that's why i i asked the experts to come on my show but it's a real thing the good

00:44:29.880 news is that the manipulators are losing the battle right now that's obvious we saw silver

00:44:34.840 surge to well over a hundred dollars an ounce it came back down but it's creeping up that trend is

00:44:41.080 if you if you want to take a step back look at silver gold and these different commodities on

00:44:46.360 a monthly chart and you will see that they're going parabolic it's up into the right it's only

00:44:52.360 when you get into the day-to-day price action that you start to see okay wait a minute dropped

00:44:56.280 a lot here and you start to get wrapped up in it that's probably like the the one thing that i would

00:45:01.000 also say to people who invest not only in natural resources but but in general day-to-day price

00:45:06.040 action is totally meaningless so although manipulation is a real thing in the precious

00:45:11.240 metals market i think there's at least a decent chance that the comex itself is involved to some

00:45:16.360 extent in at least turning a blind eye or looking the other way if not outright active manipulation

00:45:21.480 but the physical reality is there there's a massive paper market futures contracts for gold

00:45:27.400 and silver and many other commodities so to some extent you can play that game but there comes a

00:45:33.080 point where people need the physical metal i mean looking at silver as an example it's one of the

00:45:39.240 most used industrial commodities on the planet and we're in the sixth year of a consistent supply

00:45:44.760 deficit of silver according to the silver institute and it's very difficult to bring

00:45:48.360 you production online because the vast vast majority of silver comes as a byproduct of

00:45:53.080 mining other metals there's very few pure silver mines in the world it's mostly a byproduct of

00:45:58.200 copper link zed gold and some other metals and so when you look at it that way a lead

00:46:04.360 mine isn't going to suddenly ramp up its lead production to get the silver as a byproduct

00:46:09.320 because the silver price is going up so it's very difficult to turn that on and so i think

00:46:15.880 we're going to see much higher prices in silver i don't think it matters that the manipulators are

00:46:19.960 there if you want to get to the real kind of behind the scenes ultimate conspiracy theory

00:46:24.280 it's that governments don't want their citizens to know what sound money is and so they're

00:46:28.360 complicit in this manipulation to try to smash the price to scare people out of it and be able to say

00:46:33.560 see that's a bad investment you don't want to put your money in that look at it drop 26 in a single 0.97

00:46:39.000 day you idiot you bought it at 100 so they want to create this mentality that the government fiat 0.99

00:46:45.080 currency is the only thing that you can really trust now i don't know whether that's true or 1.00

00:46:48.840 false i have to believe it's true with everything going on these days it's almost you have to

00:46:53.640 default to the conspiracy theory now before anything else but at the end of the day it

00:46:57.720 doesn't matter if you're looking at the long-term picture because eventually physical demand will

00:47:02.280 overwhelm paper fantasies i couldn't agree more and i too have to put my tinfoil hat on right

00:47:09.000 before i go to bed every night so that i don't have to wear it around in public but uh man i

00:47:13.240 can't thank you enough. I love the commodity culture. Again, folks, check it out. The show

00:47:18.540 is great. There's so many good guests covering really interesting topics. And again, thanks so

00:47:24.160 much for joining me. And I hope I can reach back out to you as this Iran war sort of progresses

00:47:28.580 and we see where this goes and maybe get some follow-up info on where the energy sector is

00:47:33.560 going to go and what you think is going to happen. Absolutely. I would love to. And I have plenty of

00:47:38.340 controversial things to say about the Iran war as well so happy to come back anytime I really

00:47:43.340 appreciate it um thanks so much and uh we'll catch you next time folks

True Patriot Love - March 13, 2026

Brian Isted talks Commodity Culture ｜ with Jesse Day

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