00:00:00.000welcome back everybody to another edition here i get the pleasure of sitting down with jesse
00:00:09.920day of commodity culture thank you very much for joining us jesse great to be here brian and very
00:00:15.440excited to dive into the conversation today me too i cannot wait i came across one of your videos
00:00:22.320the collapse of canada and how to get out which i thought was just an amazing presentation you did
00:00:28.640at the cambridge house um to a crowd in bc out there which is i can't recommend enough this the
00:00:35.120link will be in the description after like please go check out this video if you haven't seen it
00:00:38.960already check out commodity culture channel there's so many banger interviews on there
00:00:43.520um that that's where i found you so i guess my first question to you would be
00:00:51.120did covid break canada or was this something that was a long time coming
00:00:55.440sort of as soon as Trudeau inherited the helm in 2015. That's a very good question because that's
00:01:01.660actually where I was going to start regardless of where the line of questioning went because I
00:01:05.420believe that event is what has defined Canada as it is today in terms of if you're able to make a
00:01:12.780population accept what were some of the most draconian pandemic measures on the planet which
00:01:18.560many Canadians didn't understand because they weren't traveling to other parts of the world at
00:01:22.680that time. They weren't really consuming the media of other countries. So they didn't realize
00:01:26.880just how extreme things were in Canada. There was only a few countries that were equal or worse,
00:01:32.140China probably being the worst, Israel, Australia, New Zealand, and Canada. Those were kind of the
00:01:38.900worst of the worst. Because if we look at even the worst EU countries, places like Germany,
00:01:45.340where things got really crazy, they did implement the passport system where you had to show
00:01:51.100something to go for dinner, but they allowed proof of prior infection. They allowed a PCR test or
00:01:57.000they allowed an antigen test in lieu of a vaccine paper. In Canada, they gave you no options, which
00:02:03.300was completely, absolutely insane. But in answer to your question, that's really tough to say,
00:02:08.560because interestingly, I didn't really start to wake up until COVID hit and these things started
00:02:13.820coming in. So before then, I was kind of like your average Canadian, not paying too much attention
00:02:18.700to what was happening politically, going, yeah, Trudeau's a bit of a weirdo, but he seems to be
00:02:23.480fine. Because again, I wasn't looking deeply into anything, just listening to what he was saying
00:02:27.540randomly. Sometimes we'd appear on TV and I would think, whatever, he's another politician, but
00:02:32.080he's not that bad and everything seems to be okay from my perspective. It took the pandemic to kind
00:02:38.640of wake me up and realize like, well, wait a minute here, something's off. And so a lot of
00:02:44.400people do point to Trudeau coming into power and putting a lot of policies in place that did cause
00:02:50.620a lot of damage to the country. And I think there's certainly a case to be made for that.
00:02:55.760But I think COVID was the event that completely brought to light the dark side of the Canadian
00:03:02.900people. And this is sensitive because I'm Canadian, but I think ultimately the problem
00:03:09.940is the canadian people i think that on average and again it depends where you go but on average i've
00:03:16.980found canadians to be some of the most ignorant arrogant people on planet earth who have no idea
00:03:24.740of any anything to do geopolitically they cannot grasp you can put direct evidence in their face
00:03:30.660of all the wrongdoings and corruption going on in canada and they will literally say you're
00:03:35.780a trump supporter or i mean i'm being a little bit extreme to make a point here but that's the
00:03:41.780main thing that woke me up was that after the pandemic restrictions started coming into place
00:03:47.540and then after they announced you need two shots to go have a beer with your buddies which is
00:03:52.980complete madness i hadn't given up on canada yet at that point because i wanted to see how the
00:03:59.060people reacted i thought okay they're gonna try to do this maybe people will push back
00:04:03.940and there'll be a debate about it and we'll be able to kind of meet in the middle or we'll be
00:04:08.820able to perhaps you know move forward with more personal freedoms let's see how this plays out
00:04:12.980because at the time i wasn't sure and what i saw was my fellow canadians not only accepting this
00:04:19.620but gleefully enjoying it as some kind of status or privilege and berating or putting down those
00:04:27.140who would not take two vaccinations and that's when i realized doesn't matter i have to get out
00:04:34.180of this country no matter the cost at the time i was working for an investor relations firm in
00:04:40.340vancouver so this was i left in october of 2021 and um i was not sure if they were going to keep
00:04:47.620me on remotely i had already been planning to kind of planning for this contingency that i
00:04:53.060was going to leave so i'd been saving up some money i had about six months worth of living
00:04:58.580expenses in like a low cost of living country if if i wanted to move and that was it i didn't know
00:05:04.340what was going to happen or how i was going to be able to make my way because at the time
00:05:08.340my youtube channel was in its infancy so i wasn't really making revenue from it yet
00:05:12.900so it was kind of a situation where i just said it doesn't matter i i will literally you know if i
00:05:19.380have to figure it out when i get to whatever country i'm going to i'll try to get a whatever
00:05:24.900low low wage job there it doesn't matter basically this situation is so bad now that i will sacrifice
00:05:32.020anything to get out and that was also a moment personally for me where i realized okay i actually
00:05:37.300value my personal freedom more than anything because i didn't know that about myself until
00:05:41.620all of this came to pass and i realized i have to get out at any cost so in answer to your question
00:05:47.860i think that things had been trending in the wrong direction but what covid and the restrictions
00:05:53.460surrounding it did was give the government moving forward a carte blanche to do anything
00:05:59.860literally anything because the population will just accept it because they cannot not accept it
00:06:06.020because the cognitive dissonance would be too great for most canadians to turn around and then
00:06:12.020say wait a minute was all that stuff during the pandemic appropriate was that illegal was that i
00:06:18.500mean we look at what happened with the the the freedom convoy and the fact that declaring the
00:06:23.860emergencies act the court of appeals has now said that was illegal well nobody cares so how does
00:06:31.220that matter nobody's held accountable think about this the former president of south korea has just
00:06:38.420been sentenced to life in prison essentially i believe 20 30 40 years something crazy like this
00:06:44.420he's already in his 60s so essentially life in prison for fault for illegally declaring martial
00:06:51.380law for less than one day and nobody got hurt nothing happened that nothing bad happened so
00:06:59.300the army got mobilized but there was no actual conflict with the citizens that nobody got injured
00:07:04.740nobody died that and he just got sentenced to essentially life in prison for that in fact
00:07:11.380south korea has a history of sending their presidents to jail i should say when when
00:07:15.140they proved to be corrupt but in canada there's absolutely no accountability and there's no
00:07:18.900accountability with the people that kind of starts with the people if nobody's really willing to care
00:07:23.460about that and the problem with canadians or a lot of them is that they have this idealized view
00:07:29.860of canada as a country thank god we're not america that's always the thought those americans they're
00:07:36.020so stupid they have trump how evil is trump i believe trump is evil i i think he's probably
00:07:42.020the worst president in u.s history at this point i think a lot of people would agree with you
00:07:46.900yeah but what does that have to do with what's going on in canada you know what i mean
00:07:51.060and so we've entered this stage now where the population is not willing to push back because
00:07:59.060like i said it's a cognitive dissonance if you dedicated your whole life to following these
00:08:04.820government objectives during the pandemic and not only that but ostracizing and bullying others who
00:08:10.100didn't follow them no matter how ridiculous they were you cannot look back and correct yourself
00:08:17.620and say i did i'm sure some people have it's not impossible but it takes a really special type of
00:08:23.060human to do all of that to go through with with something that that's that evil and then to turn
00:08:29.620around and say you know what i'm totally wrong how can i write this or i should apologize to the
00:08:34.420people that that i you know turned away because they didn't want to take the shot so in until
00:08:40.020and and i'll just add one more caveat because it's a bit of a rant but but the last thing i want to
00:08:43.860add is the fact that during the pandemic and what ultimately triggered me to leave sooner than i
00:08:49.780wanted to was the fact that the government committed one of the most brutal crimes in
00:08:56.180modern history of any g7 or modern western democracy which is to stop people from leaving
00:09:02.100the country if they didn't take two shots that was literally evil beyond any measure because
00:09:11.540australia did the opposite by the way australia and canada were very lockstep with with the
00:09:16.100policies they were implementing leading me to believe there was some sort of communication
00:09:19.620i mean i'm sure there was a communication happening globally but interestingly
00:09:22.740that there seemed to be a big connection there australia wouldn't let their citizens in the
00:09:26.500country which is also completely insane both are completely insane in different ways
00:09:31.940until that's addressed until we go back and say that was one of the greatest human rights
00:09:38.260violations committed by a country in modern history and it was unprecedented and unethical
00:09:44.180and illegal and who who implemented this and we need to convict them and then we need to make
00:09:50.180sure everybody understands that this was wrong unless that happens it's over it's absolutely
00:09:55.780over because to allow that to pass and then to now live in society you're now living in a complete
00:10:03.540fantasy in a fictional dystopian world where evil is good and good is evil and and actually maybe
00:10:11.700Maybe 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.
00:10:19.960And that's behind a lot of the policies you're seeing implemented in Canada today.
00:10:24.840Man, there is so much to unpack there, but I don't think I could have said much of that better myself.
00:10:30.740The 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.
00:10:41.000and I've, again, I've learned this through ATIP requests. Like I used to be an intelligent,
00:10:45.080I was an infantry officer, police officer, intelligence officer, or intelligence analyst,
00:10:49.400special operations for a very short time, sort of at the end of my career. But I know how to
00:10:52.940find information. I know how to follow patterns. And I found information that the government turned
00:10:59.040on the special operations community on the Canadian populace. And it was reported on very
00:11:04.300early in 2022. I didn't see it. But once I found that, I was basically checked out of
00:11:08.700the military i was checked out of canada for the most part and like you're nailing it on the head
00:11:14.200of people just blindly willfully blindly going along with everything like again you're the
00:11:19.920collapse of canada and how to get out is such a good video please go check that out if you haven't
00:11:23.740seen it already um i do want to kind of pivot a little here to get into more your expertise in
00:11:29.540the commodity space because i think there's a huge thing here that a lot of canadians don't know and
00:11:34.960it's that canada has zero gold reserves can you sort of dive into that a little bit and explain
00:11:40.960why that matters and the horrific potential side effects yeah it's a very bizarre thing
00:11:47.760um and that that's why i outlined in my talk it has to be by design to some extent because
00:11:53.120the people who are running the central bank and the economists behind the scenes have to be aware
00:11:58.240how catastrophic it is especially when we're living in a time in history over the past few
00:12:03.440years where central banks have been accumulating gold at a very rapid pace most believe and and
00:12:08.800i tend to agree that this was largely driven by the us and its allies seizing russia's fx reserves
00:12:15.280after they began um the the war in ukraine the special military operation however you want to
00:12:20.720define it um and so that made nations around the world kind of wake up and realize okay we need a
00:12:27.120neutral reserve asset that is nobody's liability and that we can hold physically within our own
00:12:33.780jurisdiction. So it's impossible to seize outside of outright ground invasion. And of course, that
00:12:39.660is gold, which has been money for over 5,000 years, which has proven itself time and time again
00:12:45.740to be kind of an accurate barometer of the health of the global economy. And gold rising is often
00:12:52.980not necessarily a sign that gold is becoming more valuable, but the value of the currencies
00:12:57.800are falling versus gold, which is essentially a measure, an honest measure of true wealth and
00:13:04.940true money. And so to not have that neutral reserve asset at all is tantamount to just
00:13:12.340asking for complete and total collapse if we do enter a phase where the fiat currency system
00:13:19.000is under duress. Now, it's interesting because there's a lot of hyperbole around this topic.
00:13:25.000There's a lot of people who will say that the US dollar is dying or that fiat currencies are
00:13:30.520going to hyperinflate all around the world. We're reaching the end game. And so it ends up kind of
00:13:35.960being an urgent message and that gets a lot of clicks online. The truth is we don't actually
00:13:41.580know how much longer this experiment could go on because around the world, we've been under a
00:13:46.860global fiat currency system since the 70s when Richard Nixon removed gold backing from the
00:13:53.640dollar we've never been in a time in human history where there's literally been no currency that is
00:14:00.280backed by gold whatsoever because prior to Nixon removing the dollar from gold backing we had the
00:14:05.800Bretton Woods system which was essentially it's a little complicated but to simplify it it's that
00:14:11.040the US dollar is backed by gold and most of the world's major currencies are pegged to the US
00:14:16.660dollar. So in that sense, even though those countries don't necessarily have physical gold
00:14:21.040to back their money, the US did. It was supposed to be, keep everybody honest. Obviously, we got
00:14:27.420into a situation where the US needed to print money to fund the war in Vietnam. And so that's
00:14:33.040a big part of what drove Nixon to go, you know what, let's figure out a way we can just print
00:14:37.500this stuff and we don't actually have to have the requisite amount of gold in the vault and um
00:14:41.880that created rip ripples throughout the global economy that still persist to this day it's one
00:14:48.500of the most disastrous decisions and policies ever implemented probably in modern human history
00:14:54.740and um the fact that canada has not protected itself with gold means that if we do enter that
00:15:01.300end game scenario if we do find ourselves in a place where fiat currencies start to hyper inflate
00:15:06.760or even let's say the Canadian dollar starts to hyperinflate,
00:15:09.500which means that you get inflation at a massive level.
00:15:13.560I think hyperinflation is technically 50% in a year.
00:15:24.520And, you know, there was hyperinflation in Zimbabwe.
00:15:28.380The classic example is the Weimar Republic in Germany post-World War I.
00:15:32.720um hungary in the past has experienced incredible hyperinflation so these events can happen but so
00:15:39.520far they've only happened in isolated countries as opposed to a worldwide global phenomenon um so
00:15:45.780the the thought is that if the u.s dollar being the world's reserve currency because of course
00:15:50.640the way that the u.s dollar allowed themselves to keep dominance and supremacy over the world
00:15:55.940after removing gold backing is to go to the saudis and tell them you need to sell all of your oil
00:16:01.840using U.S. dollars only. And in return, we will offer you military protection. We will offer you
00:16:07.100this. And that agreement is what created the petrodollar, what's called the petrodollar,
00:16:12.200and has allowed the U.S. dollar to maintain its dominance over time. So it's a simple fact that
00:16:20.220if we do experience hyperinflation in the U.S. dollar at some point, that is going to probably
00:16:25.060cascade to many, many other currencies around the world, the Canadian dollar being one of them.
00:16:30.260and in that situation you want to have gold to be able to as a ballast to be able to protect
00:16:37.160the wealth of the country so that in the event of a currency plummeting at least you have a real
00:16:42.560hard asset that in that case in a hyperinflationary event gold will go absolutely ballistic to the
00:16:48.420upside and act as kind of a protection mechanism against that the classic example in weimar
00:16:53.620germany is that there came a point where you could buy a house a big house with an ounce of gold
00:16:58.600um and if you look over time in terms of purchasing power gold has kind of basically over time held
00:17:05.040its purchasing power so if you go back to like the roman empire you could buy a fine toga and
00:17:11.060an outfit for an ounce of gold and if you come to today it's about the same an ounce of gold will
00:17:16.960buy you like the finest suit the finest outfit and there's many other examples that you can look to
00:17:21.380throughout history where gold is essentially maintained purchasing power as fiat currencies
00:17:26.720have inflated um but canada's playing a dangerous game by having zero gold reserves and there's
00:17:33.520basically no other country that's doing that in the world that is a serious country and that leads
00:17:39.600me to believe that perhaps it could be an intentional policy and so if we were to see a
00:17:45.040total collapse perhaps there's some sort of central bank digital currency system i know they've been
00:17:49.760floating that idea or some way to implement a system to create this digital slave network
00:17:56.720where they start to potentially introduce universal basic income and these different
00:18:01.280types of things where here is your new canada fed wallet whatever it's going to be
00:18:08.720they would then get people to buy in by giving them a thousand dollars for free the canadian
00:18:12.800government likes to give out these little bits of money to people that is already stolen from
00:18:17.120them through inflation which is so crazy to me we're gonna give you a grocery support of whatever
00:18:22.640hundreds of dollars or a thousand dollars but the inflation you caused is worse than the money
00:18:28.000you're giving so it's like you're just punishing me a little bit less um so they could potentially
00:18:33.680do that introduce some type of cbdc get the population to buy into it which canadians would
00:18:37.920buy into it right away do you think it's likely that that'll come because that was actually my
00:18:42.800next question so it's perfect do you think it's likely we'll see that maybe not necessarily the
00:18:46.960hyperinflation piece but cbdc stablecoin all of its programmable surveillable you drive too much
00:18:53.440you eat too much beef they turn it off kind of thing do you think that's coming so that the whole
00:18:59.440driving too much and reducing your carbon that could be a possibility i don't see them launching
00:19:06.400that in a near-term time frame i see them slowly trickling because that's how governments work
00:19:12.160when they want to implement radical policies they do uh a little bit at a time and one of the
00:19:18.960strategies i've heard of which the canadian government has certainly implemented and which
00:19:22.320makes sense is you push it a little too far you let some backlash happen and then you step back
00:19:29.12050 so you only wanted that 50 to begin with so you push to 100 and then people complain or push back
00:19:36.960and then you bring it back to the 50 which you wanted to begin with so it's a super effective
00:19:41.600method of getting people to accept restrictions and limitations in a step-by-step method and so
00:19:48.800i think that they'll probably slowly roll it out at first they'll probably launch it with some sort
00:19:54.240of like i said a free incentive 500 if you sign up within this time frame and uh and then once
00:20:01.920once you're in the system they can kind of more easily start to offer you incentives to receive
00:20:07.520payment in this digital wallet as opposed to regular dollars so there could be a scenario
00:20:12.160where we have regular canadian dollars and this central bank digital currency running parallel
00:20:18.000and then the goal would be to eventually phase out the canadian dollars and they could do that
00:20:22.480slowly over time through incentives and restrictions until we eventually get to a point
00:20:28.400where you know they can put time limits on it these restrictions like you're talking about you
00:20:32.320can only use it to purchase certain items you know of course you want to be a conscientious
00:20:36.560environmental person so you're only allowed to buy a certain amount of product x or y depending
00:20:41.760on how much carbon is calculated to emit um this is all ultimately these people want to enslave
00:20:47.760the population and they want to depopulate uh canada as much as possible because it's much
00:20:53.520easier to rule over the ashes and and just extract wealth as much as possible from the the smaller
00:20:59.440group of slaves that's left i know this stuff sounds extreme and it took me a while to to get
00:21:04.560where i am today um of kind of digging into it and thinking about it deeply but when you think
00:21:10.800about when you think about policies being implemented in canada the catch and release
00:21:15.280of dangerous criminals again and again and this isn't unique to canada this is across the western
00:21:19.920world and i think the same elite network is behind all of it um but these catch and release the the
00:21:27.360the increase in in made which we were speaking about briefly before we hit record today
00:21:32.560and and so many of the policies if you think about it from the perspective of the people
00:21:37.120implementing these policies are power hungry psychopaths so they're devoid of empathy they
00:21:43.840revel in the death of their citizens or or they want to kill as many people as possible it helps
00:21:48.960them sleep at night these are concepts people don't understand but people have to understand
00:21:53.520psychopathy and how it works and the extreme psychopathy of this network that has uh created
00:21:59.520the the conditions under which canadians are living today when you look at it through that lens
00:22:04.560things start to make way more sense as to why they're doing x y or z because it's not incompetence
00:22:09.840there's that old saying never attribute to malice what you could to incompetence
00:22:13.760i think it's actually the reverse in western countries today whenever you think it's
00:22:18.160incompetence you should look first to the fact that it's probably malice unfortunately i i i
00:22:24.320I 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.
00:22:31.640And I agree with pretty much everything you said there.
00:22:35.660And 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?
00:22:46.600and then something you brought up again and sorry to keep going back to this but i love this first
00:22:50.700video so much um referencing mark carney was heavily involved in the trudeau government when
00:22:55.780people's bank accounts are being switched off so if you think that this was a trudeau-led initiative
00:23:00.640or christopher freeland you know what i mean was acting with some kind of autonomy like carney was
00:23:04.360along for this ride and probably instigating and instituting everything that happened and then
00:23:08.880the elbows up psyop happened and we basically elected trudeau again but somehow worse fiscally
00:23:14.800and uh leading to all the problems and more that you just alluded to which kind of goes very well
00:23:21.480into my next question here so like why is canada so historically horrific at managing our natural
00:23:28.420resources things like oil you know what i mean mines that we often sell off or underfund in
00:23:33.560terms of exploration like what got us here and what can we do about it well things actually
00:23:39.600aren't as bad as a lot of people think because at the end of the day the canadian government
00:23:45.360does realize how its bread is buttered and they can't exactly go around completely shutting off
00:23:50.640the oil and gas industry for example they know that they need these industries to fund themselves
00:23:55.840and their own grasp on power because if they were to just shut down all natural resources extraction
00:24:01.120they would stand a big risk of losing their own power and their own wealth so they're selectively
00:24:07.040shutting down certain aspects in terms of not building new pipelines in terms of uh perhaps
00:24:13.360not granting permits in a timely fashion in fact permitting for the mining industry in canada
00:24:17.760could be an absolute nightmare let's say you discover a gold deposit and generally what
00:24:22.480happens in that case is the company that discovers it isn't the one that brings it online they will
00:24:26.640then sell it to a larger player or to a developer who's going to develop it and bring it to
00:24:31.520production then perhaps even a bigger player comes in so that there's a chain that happens
00:24:35.120there in terms of the the ownership of that asset but ultimately when it gets time to build the mine
00:24:41.600and you're leading up to that the amount of studies that need to be done the amount of
00:24:45.600indigenous groups that need to be consulted with depending on which area you're in then you need
00:24:49.680to pay them all their cut and then another one comes out of the woodwork at the 11th hour and
00:24:54.640says wait a minute what about us we didn't get paid and or somebody will object and so there's
00:25:00.320such the regulatory red tape is the thing that is the real stranglehold on the resource industry in
00:25:06.160canada so it needs to be massively deregulated and that all plays into the government's command
00:25:12.960and control strategy in that they they need a certain amount of money to come from the natural
00:25:19.440resource sector but they don't want to leave it completely open to business because they want to
00:25:25.040control that as much as they can extract as much wealth as possible from those individual projects
00:25:30.800and they could care less if there's a project sitting on the sidelines for 10 20 years
00:25:34.720as it waits for approval and goes through all these different environmental studies
00:25:38.240all the red tape that's involved so deregulation needs to happen interestingly some of my largest
00:25:44.320investments are in canada i said that when i was when i started off my presentation especially
00:25:49.120because it was a bit it was a bit stressful because i was giving this presentation in between
00:25:54.000mining company ceos who had paid to be their canadian mining company ceos to pitch their
00:25:59.360project and say okay now here's xyz company talking about their gold mine in bc or whatever
00:26:04.640now here's some guy talking about the country's about to collapse but i but but truthfully i i
00:26:10.640do believe that yeah it was kind of funny um but but i do believe that canada's resource industry
00:26:18.160is very investable particularly the oil and gas space considering how cheap a lot of these
00:26:22.240companies are the uranium sector the athabasca basin in saskatchewan is the saudi arabia of
00:26:27.120uranium the highest grades in the world the largest deposits in the world and um that there's
00:26:33.600a lot of investable companies in that part of the world um so it's not a lost cause at present it's
00:26:39.920just that there's so much more that could be done you know i've heard recently that they imported
00:26:45.440lng from australia or something on on the east coast of canada which is totally crazy we have
00:26:50.640such an abundance of natural gas and such an abundance of oil that we should be focusing in
00:26:57.040and honing in on that more than putting red tape and regulations but the interesting thing about
00:27:02.400carney is i think in a way he's playing both sides so he's advancing projects he's spoken
00:27:10.400recently about fast tracking mineral resource extraction but at the same time he realizes a
00:27:16.080a huge part of the liberal voter base, are very extreme environmentalists. So you have to also,
00:27:22.260at any chance you get, talk about renewable energy, talk about reducing carbon, talk about
00:27:28.300shutting down oil pipelines or perhaps not building them. So I think in a way, he's being a
00:27:33.540little bit strategic about it, trying to appease his voters. And at the same time, we're moving
00:27:38.740forward to extract a little bit more of wealth from the natural resource industry in Canada.
00:27:44.740so I don't see a bleak picture for that as an investor but of course so much more could be done
00:27:51.760in terms of deregulation and we need to start getting these indigenous groups under control
00:27:56.320in terms of how much they're allowed to ask for and how many of these different groups you have
00:28:00.360to consult with I mean what's going on in BC right now is crazy with you know land now being
00:28:05.940being told okay this is now traditional indigenous land well what does that mean I mean it's getting
00:28:10.800crazy in that sense um but you're talking about the musqueam the musqueam 2.5 million homes in
00:28:17.740vancouver being handed to a native a native association is what you're referring to just in
00:28:21.960case the folks are not are not sure what's going on but it's absolutely wild and um it's wild and
00:28:27.720it doesn't bode well for resource extraction in british columbia in particular because now that
00:28:35.240this has happened it sets a bit of a precedent you know show me the incentive i'll show you the
00:28:38.920outcome is the famous Charlie Munger quote now other indigenous groups are going to be going wow
00:28:43.680okay well maybe we can get like a whole gold mine you know what I mean maybe we can get all these
00:28:49.840resources now if we can prove that this belongs to us traditionally so I'd be sweating a little
00:28:55.460bit right now if I was the CEO of a mining company that operates in British Columbia
00:28:58.960and we just have to hope that this doesn't spread too much around the country and remains kind of
00:29:03.380isolated incident so many so many good points there again so because of this red tape that
00:29:10.260causes a lot of the headache and uh chronological delay like time frames always being pushed to the
00:29:16.100right do you do you think that that help that represents risk or additional risk to foreign
00:29:22.260investment that otherwise typically would be investing in canadian commodities yes it
00:29:27.220represents risk to all investors whether foreign or domestic because you you can look at these
00:29:34.980you know companies put out various economic assessments to basically try to um describe
00:29:43.860the value proposition of investing in that particular company so they they find out they
00:29:49.460do studies to find out what's the all-in sustaining cost of taking for example an
00:29:53.060ounce of gold or a pound of uranium out of the ground and they they provide an a net present
00:29:59.060value calculation which lets you know the value of the resources they have under the ground in
00:30:03.460today's dollars an internal rate of return which is a number you look at a percentage that you look
00:30:09.060at to see if this is a favorable investment decision or not and all of those numbers that
00:30:14.900people refer to can be meaningless if a mine never gets you know permitted in time so actually it's
00:30:21.060the biggest jurisdictional risk in canada people talk about jurisdictional risk and there's different
00:30:26.020kinds there's ak-47 risk in places like niger and other african jurisdictions and then there's and
00:30:33.220and you also have the risk of course of government corruption nationalization of resources but in
00:30:38.820canada your big risk is permitting times and government red tape it's a massive risk so that
00:30:44.740means you have to be very careful and selective with which projects you invest in how early stage
00:30:49.940are there? What is the relationship of this company with the government? How far along are
00:30:55.120they in getting their permits? What other regulatory hurdles remain in front of them?
00:31:00.080Because a company can have the greatest economics in the world, the greatest deposit in the world,
00:31:04.780but if it's not going to come online for 10, 15, 20 years, unless you're willing to hold for that
00:31:10.260long, and in the meantime, a whole bunch of other problems could crop up, I think it's something
00:31:15.480that all investors need to really pay attention to and to be really careful so that's why ultimately
00:31:20.600for most people it's better to invest in a company that is already producing the resources and not
00:31:26.200an earlier stage company that's maybe in the exploration or development they haven't moved
00:31:30.440through to the permitting phase yet unless they're already well along in that process or you can see
00:31:35.800they have they have a really good relationship there these are all can be very opaque things
00:31:39.720to look into but it's it's a factor that all investors need to consider when it comes to the
00:31:44.040the Canadian resource industry. I can speak from experience that I've had violent movements in
00:31:51.820stocks of junior miners that I've held with a press release of exactly what you talked about.
00:31:57.260It was a native community all of a sudden, you know what I mean, staking a larger claim or some
00:32:02.560kind of, you know what I mean, they wanted a bigger piece of the pie of a mine in the area
00:32:07.660that previously, you know, I guess didn't belong to them. Or there was some kind of, like you said,
00:32:10.940opaque area that pushed the price way down. Then you have all these talks and it just everything
00:32:16.420you're saying, I've experienced firsthand. So I know exactly the pain and the delays that all
00:32:22.000this stuff causes. Without any of this being perceived as sort of financial advice, because
00:32:27.620that's not what this channel is about. And please don't take any of this literally. Like, are there
00:32:31.900companies you think now that are maybe a junior, maybe a major that are either on the about to
00:32:36.680become you know i mean very successful or about to sort of break new ground in that area which
00:32:40.920is there any you'd list specifically yeah so ultimately i generally stay away from the junior
00:32:47.160mining sector um simply because i'd rather not take the risk and the fact that i believe that
00:32:53.800we're in a resource bull market and we're going to see a lot of these commodities get repriced
00:32:59.560drastically to the upside that they already are just look at what gold silver and uranium have
00:33:03.800done um i don't think you need to swing for the fences i'd rather get a comfortable two to three
00:33:10.440x and take much much less risk than go ahead and try to get into the weeds on some junior
00:33:17.720explorer or something that could 10x if it gets all it's if everything goes well but has a higher
00:33:23.320probability of going to zero so i i would direct most people to etfs i think that's just the best
00:33:29.080way to go so for example the sprout physical uranium trust that's the premier physical
00:33:34.680uranium fund so if you look into the i think uranium has the best risk reward ratio the
00:33:41.480highest asymmetric uh probability of it going to the upside than any commodity in the world right
00:33:46.760now so if you've looked into the uranium story and you agree why not just buy the physical uranium
00:33:52.840which is that the spot physical uranium trust is a vehicle that actually purchases physical
00:33:57.560uranium pounds and stores them in warehouses and just takes it off the market so that that uranium
00:34:03.560is no longer accessible to utilities to power nuclear plants so it essentially it it helps put
00:34:09.240the price up a little bit but it's also just betting on the commodity itself um i would
00:34:14.520recommend the same thing with gold and silver just buy the physical gold and silver um now
00:34:20.120when if if you want to get into the mining space you can buy one of the indexes the gdx
00:34:25.160is the main um etf that holds a basket of the major gold miners sil is the one for silver miners
00:34:32.920you could go into gdxj or silj which is more juniors but at least you get a diversified basket
00:34:38.040of them so that's where i'd look as a resource investor but if we're talking about canada and
00:34:44.280and also oil of course there's several etfs for for oil companies um xle is the main one in the
00:34:50.040us and there's a few different ones for canada as well but when it comes to individual companies
00:34:55.720in uranium i think you got to look at the giant which is cameco they're in the athabasca basin
00:35:01.080they're the second largest uranium company in the world um they are producing uranium right now
00:35:08.520there's no other company in canada right now they're just producing uranium in any
00:35:13.560quantity that matters um so i would look to cameco um and then potentially denison mines
00:35:21.160is most likely going to be the next company to produce in fact they've technically already
00:35:26.120started producing with a rano which is a french company that is active in the athabasca basin as
00:35:31.640well they're one of the world's biggest uranium companies they own a percentage of a deposit
00:35:36.760there that they've started mining so they actually are they they do have exposure to a certain amount
00:35:41.080of uranium production but they are looking to bring their main projects online and it looks like
00:35:46.200they've been given final approval or very close to final approval to move forward with construction
00:35:51.160um so that would probably be the next up-and-comer in the athabasca basin you have next gen energy
00:35:57.160which has the world's largest best highest grade undeveloped uranium deposit like anywhere on the
00:36:03.560planet in fact it's one of the greatest resource deposits of any commodity on planet earth right
00:36:09.160now now their timeline to productions more like 2028 to 2030 probably 2030 or later but
00:36:17.800they are the second largest uranium company in canada by market cap size after cameco and because
00:36:23.800their deposit is so great they are most likely going to be the beneficiary of institutional
00:36:28.840investment once more institutional investment starts to enter the sector as this bull cycle
00:36:34.200becomes more clear to the broader market so those are the main kind of uranium companies and that's
00:36:39.560kind of my my area of expertise when it comes to oil and gas like i said stick with the majors
00:36:44.760um canadian natural resources synovus energy um you want to get into a little more mid-cap you
00:36:50.280can look at white cap surge energy the great thing about the oil and gas space right now
00:36:55.000is they're paying generous dividends they're buying back shares and they're paying down debt
00:37:00.760that is their main objective most oil and gas companies right now so if you believe over the
00:37:05.960long run the oil price is going to go higher and the natural gas price is going to go higher
00:37:10.520you get paid while you wait some of these companies are paying six seven eight percent dividends so
00:37:16.840you're if you believe oil is going up anyways why not and a lot of these companies are trading
00:37:21.960into very attractive valuations what why not buy that sit on it get your dividend let them buy back
00:37:27.800shares and pay down their debt. And as the oil price rises, then you'll get the re-rating in
00:37:32.700the companies to the upside. But the one caveat I will say to all of this is that if you're
00:37:37.720entering the resource sector, you have to be prepared to stomach gut-wrenching volatility.
00:37:43.000This is especially true in the uranium sector. It's probably the most volatile
00:37:46.120sector in the entire commodities market right now. But in general, you have to have a long-term
00:37:51.980outlook and you have to realize that commodities are cyclical. So while you still have to have a
00:37:56.800long-term outlook you have to realize this is not a set it and forget it type of investment like
00:38:01.040investing in an index fund and counting your days till you retire you know 20 30 40 years down the
00:38:06.120road you have to realize commodities are cyclical and there will come a time where prices get too
00:38:10.800high and they then tend to drop off dramatically on the other side so you also have to have an exit
00:38:17.240strategy and it's way better to exit the party early than to exit the party once the lights are
00:38:22.760shut off and the DJ's packing up his gear because then it's game over yeah fair enough and I'm very
00:38:29.180glad you brought up the energy sector as well because as someone who sort of relatively new
00:38:33.980to this game and I've done my due diligence but I don't understand why like obviously the Iran
00:38:38.980war is happening now and I think when we book this this podcast I don't even think it had kicked
00:38:44.000off yet so oils you know what I mean starting to surge and I know that can be a temporary effect at
00:38:48.360beginning um but why in canada are gas prices so high or not so high but starting to climb
00:38:54.920up with this iran war if we refine and produce gasoline domestically well i don't know that all
00:39:00.920of canada's gasoline is refined domestically that's one statistic i would need to i would
00:39:06.360need to look at because i i'm not sure about that i think i looked it up i think it's 70
00:39:10.600percent is what i like told me so like the vast majority i would say yeah see that's interesting
00:39:18.280because i don't live in canada so i don't pay attention to gasoline prices there um you've seen
00:39:23.800this rise since the war kicked off you've seen a sharp increase is that what's happened yeah well
00:39:30.360right now i'm in the southern u.s and it's definitely had a pretty sharp increase here
00:39:34.200but i was paying attention to canada and it's had a jump i don't think as big of a percentage of a
00:39:38.280jump but still a jump that seems to be unexplainable given that we don't need to resource our gas from
00:39:44.920anywhere where the refineries are being blown up like we have our own so i guess what i'm looking
00:39:49.400for is like sort of explain to me like i'm five why i mean we we're not paint like the scarcity
00:39:55.800in canada is not there but we're still being gouged yeah interesting other statistic to look
00:40:02.120at would be how much of canada's oil is imported because in like i just talked about this lng deal
00:40:08.600with australia where a bunch of lng was shipped to canada which makes no sense whatsoever so although
00:40:13.320the refining capacity could be there 70 as you said i'm curious how much of canada's oil itself
00:40:18.920is actually imported from other countries which could certainly play a role now as the oil price
00:40:23.720rises in general we also have to consider that the cost of everything can go up because energy
00:40:28.440is the main input into everything that's going on, including deliveries, all of the food
00:40:34.880deliveries, the cost of producing food, the cost of producing everything. But that's interesting
00:40:40.320because normally these things have a more longer, it takes a longer time for these effects to kick
00:40:45.000in because oil surged recently. I think, I don't know if we're around $90 or at least in the mid
00:40:51.60080s as we speak. It takes some time for that to trickle down, I think, into the broader economy.
00:40:57.480what that might tell me is that inventory levels are low and in that case they need to buy oil
00:41:03.940more recently to then refine into gasoline that's just a theory that could be part of it
00:41:08.560i would look at how much of canada's oil is imported what type of oil it is that's being
00:41:13.700refined into gasoline um and and if that's all coming from canada or not i would guess that's
00:41:18.460not the case so those are some factors i would look at obviously of course we know about the
00:41:23.060taxes that have driven the prices of gasoline much higher than it needs to be as well. So those are
00:41:29.100just some educated guesses, but I don't actually have the answer. No, that's fair enough. And that's
00:41:34.140more or less kind of what I expected to hear. But as someone who's not an expert in the space,
00:41:39.420it's good to hear from folks like yourself. Something else that I was sort of in the back
00:41:44.020of my mind that's been taken up a little bit of bandwidth is the COMEX manipulation and the lack
00:41:49.560sort of government intervention can do you have any uh anything to add or like what's going on
00:41:54.200there yeah so i have a lot of guests that come on my show that talk about manipulation of precious
00:41:59.000metals it's a real thing markets in general are fairly manipulated i mean we look at things like
00:42:05.720the president of the united states releasing a crypto coin and then rug pulling everybody
00:42:10.280his wife release a crypto coin you have you know phone calls being made before certain events happen
00:42:16.920to industry insiders people who are close to certain politicians the politicians themselves
00:42:21.880who are close to ceos of certain companies and before events happen you see markets move because
00:42:27.240those insiders are acting on insider information so there's a ton of manipulation actually we don't
00:42:32.440have a free market right now in the world there's free market characteristics to it and that's why
00:42:37.960it's so important as an investor to be paying attention to what policies are being implemented
00:42:43.000to be to pay attention to what's happening geopolitically what decisions are being made
00:42:47.240by those in positions of power because you need to kind of that there's no way to predict these
00:42:52.120things but it gives you a better lay of the land you can't invest just thinking oh it's a free
00:42:57.000market and everything's just gonna you know the efficient market hypothesis i've eugene famine
00:43:02.440kenneth french came up with this and it's interesting but it's it's nonsense because
00:43:05.880there's at this point in time we don't have efficient markets there's mispricings everywhere
00:43:10.200for a variety of reasons but when it comes to precious metals there's a history of precious
00:43:14.680metals spoofing um which is another way of saying manipulating it jp morgan has been fined large
00:43:21.320amounts of money some of their people even went to jail for a certain amount of time but it doesn't
00:43:25.800matter for most of these companies because they essentially make more money on the trade than they
00:43:30.440do paying the fines now the question becomes how effective is this manipulation because
00:43:36.920we we've also seen some shady things happening at the comex with like oh our cooling system
00:43:41.000stopped working as silver was surging and they had to like shut down for several hours when silver
00:43:46.280dropped 26 in a single day i've spoken to a few different analysts who say there's supposed to be
00:43:51.400circuit breakers that trigger once it drops more than a certain amount within an hour's time
00:43:56.920and supposedly that happened and those circuit breakers were never triggered so that's also very
00:44:01.960strange that would suggest that perhaps the comex itself is complicit in manipulation in collaboration
00:44:08.920with these large banks and and these institutions who take short positions and then and then
00:44:15.000essentially sell paper contracts into the market to drive the price down in massive amounts that's
00:44:20.120essentially how it works it's it's much more complicated than that i have a hard time wrapping
00:44:24.120my head around it that's why i i asked the experts to come on my show but it's a real thing the good
00:44:29.880news is that the manipulators are losing the battle right now that's obvious we saw silver
00:44:34.840surge to well over a hundred dollars an ounce it came back down but it's creeping up that trend is
00:44:41.080if you if you want to take a step back look at silver gold and these different commodities on
00:44:46.360a monthly chart and you will see that they're going parabolic it's up into the right it's only
00:44:52.360when you get into the day-to-day price action that you start to see okay wait a minute dropped
00:44:56.280a lot here and you start to get wrapped up in it that's probably like the the one thing that i would
00:45:01.000also say to people who invest not only in natural resources but but in general day-to-day price
00:45:06.040action is totally meaningless so although manipulation is a real thing in the precious
00:45:11.240metals market i think there's at least a decent chance that the comex itself is involved to some
00:45:16.360extent in at least turning a blind eye or looking the other way if not outright active manipulation
00:45:21.480but the physical reality is there there's a massive paper market futures contracts for gold
00:45:27.400and silver and many other commodities so to some extent you can play that game but there comes a
00:45:33.080point where people need the physical metal i mean looking at silver as an example it's one of the
00:45:39.240most used industrial commodities on the planet and we're in the sixth year of a consistent supply
00:45:44.760deficit of silver according to the silver institute and it's very difficult to bring
00:45:48.360you production online because the vast vast majority of silver comes as a byproduct of
00:45:53.080mining other metals there's very few pure silver mines in the world it's mostly a byproduct of
00:45:58.200copper link zed gold and some other metals and so when you look at it that way a lead
00:46:04.360mine isn't going to suddenly ramp up its lead production to get the silver as a byproduct
00:46:09.320because the silver price is going up so it's very difficult to turn that on and so i think
00:46:15.880we're going to see much higher prices in silver i don't think it matters that the manipulators are
00:46:19.960there if you want to get to the real kind of behind the scenes ultimate conspiracy theory
00:46:24.280it's that governments don't want their citizens to know what sound money is and so they're
00:46:28.360complicit in this manipulation to try to smash the price to scare people out of it and be able to say
00:46:33.560see that's a bad investment you don't want to put your money in that look at it drop 26 in a single
00:46:39.000day you idiot you bought it at 100 so they want to create this mentality that the government fiat
00:46:45.080currency is the only thing that you can really trust now i don't know whether that's true or
00:46:48.840false i have to believe it's true with everything going on these days it's almost you have to
00:46:53.640default to the conspiracy theory now before anything else but at the end of the day it
00:46:57.720doesn't matter if you're looking at the long-term picture because eventually physical demand will
00:47:02.280overwhelm paper fantasies i couldn't agree more and i too have to put my tinfoil hat on right
00:47:09.000before i go to bed every night so that i don't have to wear it around in public but uh man i
00:47:13.240can't thank you enough. I love the commodity culture. Again, folks, check it out. The show
00:47:18.540is great. There's so many good guests covering really interesting topics. And again, thanks so
00:47:24.160much for joining me. And I hope I can reach back out to you as this Iran war sort of progresses
00:47:28.580and we see where this goes and maybe get some follow-up info on where the energy sector is
00:47:33.560going to go and what you think is going to happen. Absolutely. I would love to. And I have plenty of
00:47:38.340controversial things to say about the Iran war as well so happy to come back anytime I really
00:47:43.340appreciate it um thanks so much and uh we'll catch you next time folks