In this Natural Resource Stocks interview, host Steve Yang sits down with Jeffrey M. Christian, managing partner and founder of CPM Group, an independent commodities research and consulting firm focused on precious and specialty metals. Jeffrey explains how his team really looks at gold and silver: macro drivers, physical supply and demand, investment flows and central bank activity, so serious #Millettian investors can filter signal from noise.
They open with the move that set social media on fire: silver jumping about $10 and gold roughly $150 in five trading days. Jeffrey breaks down why futures roll mechanics, positioning and short-term liquidity mattered far more than rumors about shortages or secret resets, and how to think about fast spikes inside a longer trend instead of chasing every headline.
From there the conversation moves into central banks and the currency system. Jeffrey walks through how Western central banks went from steady gold sellers to net buyers, how emerging markets have been rebuilding reserves, and why talk of a near-term BRICS gold-backed currency is fantasy given how the system actually works. He then zooms out to the dollar-based regime, why past currency systems have all failed, why this one has not yet, and how America’s debt burden both supports and destabilizes the current order over time.
In the final segment Jeffrey steps back to look at global “tectonic plates.” He argues that overall risks and uncertainties are now greater than at any time since December 1941, pointing to overlapping geopolitical, economic and social stress in the United States, Europe, Russia and China. He links that risk map to how institutional investors are really using gold and silver in portfolios today, and what that could mean for prices and allocations over the next decade.
If you want serious macro and metals work instead of fear marketing or hopium, this interview gives you a clean framework for thinking about gold, silver and the global system – and where the real tail risks sit.
The opinions expressed are solely those of the guest and do not necessarily reflect those of Natural Resource Stocks.
