This is a free preview of a paid episode. To hear more, visit www.bonnerprivateresearch.com Tuesday, May 6th, 2025 Laramie, Wyoming Well this is awkward. Yesterday, on short-notice, I had a 45-minute Private Briefing with BPR stalwart Rick Rule. It was, by popular demand, almost entirely about silver ( we did talk about the gold/oil ratio at the very end ). Why awkward? Because Barron’s published an article this morning on the very first question I…...
May 06, 2025•24 min
Tuesday, February 18th, 2025 Laramie, Wyoming Earlier today I hosted a live call with Matt Smith from Doug Casey’s Crisis Investing . During the chat, the gold price made an intra-day high of over $2,950/oz. Later in the chat, Matt made the case for why gold could go as high as $21k/oz. Why? How? When? What should you do next? All good questions! You can click on the video above to watch ( I’m having a transcript made as well, but wanted to send you this as soon as possible ). Here’s a breakdown...
Feb 18, 2025•48 min
Welcome to Episode #78 of the Fatal Conceits Podcast… They’re sometimes called “California refugees.” But they hail from New York and Illinois, too… You’ll find them in sleepy little towns in Florida… Texas… Arizona… Nevada… and across the sunbelt… basically anywhere that doesn’t suffer oppressive taxation, creeping government, woke school curriculums, high crime, homelessness, drug epidemics… The pandemic didn’t birth this trend, but it sure did accelerate it. Presently, California is losing ab...
Dec 04, 2022•27 min
Welcome to Episode #77 of the Fatal Conceits Podcast... In today’s conversation, I’m joined by author, value investor, student of life and editor of the popular ContrarianEdge newsletter, Mr. Vitaliy Katsenelson. I’ve been reading Vitaliy’s work, on and off, for over a decade now. In fact, we used to publish his columns and market insights occasionally in The Daily Reckoning , a publication I managed for Bill Bonner back in the 2000s, in what seems like another lifetime... Vitaliy describes hims...
Nov 17, 2022•51 min
And now for some more Fatal Conceits… Welcome to Episode #76 of the Fatal Conceits Podcast, dear listener, a show about money, markets, mobs and manias. All eyes were on the Jay Powell’s Fed this week, specifically the chairman’s remarks following the much-expected 75-basis point rate hike. Word was that the central bank will “continue to do what needs to be done to get the job done." Actually, they were JP’s exact words. “The job” to which Mr. Powell refers is, of course, to get inflation back ...
Nov 05, 2022•40 min
And now for some more Fatal Conceits… “I mean, look, you seriously couldn't make this stuff up and it really is banana republic stuff, frankly. It's embarrassing and they just need to get a grip.” ~ Robert Marstrand on the sorry state of British politics. Welcome to another episode of the Fatal Conceits podcast, dear listener. In this conversation, Episode #75, we catch up with UK-born investor and fellow Argentine resident, Robert Marstrand. Following his career as an investment banker at UBS, ...
Oct 30, 2022•35 min
And now for some more Fatal Conceits… “I think those people at the Nobel Committee must have a sense of humor,” quipped Bill Bonner, in response to the questionable judgement that resulted in Ben Shalom Bernanke being awarded the Nobel Prize for economics earlier this week. “They're either very dumb or very cynical,” Bill continued. “And I'm not sure which it is because, if you remember that time, Ben Bernanke was wrong about everything. And no major issue came to him that he was not wrong about...
Oct 13, 2022•31 min
And now for some more Fatal Conceits… When the Nord Stream pipelines were sabotaged last week (Sept. 26), we immediately fired off an email to energy and resource investor, geopolitical expert and all round man of letters, Byron King. Regular listeners (and readers) will recognize Byron as the man who called out “Germany’s Energy Stalingrad” during our Winter Catastrophe summit. That was back in December of 2021, when European technocrats were still guffawing over suggestions that their green pi...
Oct 08, 2022•55 min
And now for some more Fatal Conceits… “Let me take this opportunity to antagonize those of our listeners that I haven’t already antagonized…” There are some people who go out of their way to appease others, to say what they think the majority wants to hear, to mollycoddle their audience and make nice with anyone they meet so as not to ruffle any feathers. Doug Casey is not that person. Whether on the prospect of civil war at home… “It seems that Americans have broken into two groups; the red peo...
Sep 22, 2022•43 min
And now for some more Fatal Conceits… In today’s episode, we welcome serial entrepreneur, investor, author and founder and CEO of Inversor Global , Sr. Federico Tessore. Over the past two decades, Fede has built his financial research business into one of the most successful in the Spanish speaking world (don’t worry… the conversation is in English), with hundreds of thousands of readers across multiple countries up and down Latin America and in Europe. His massively popular #FedeTessoShow chann...
Sep 11, 2022•32 min
Welcome to another Fatal Conceits Podcast. In today’s episode, we’re joined by our good friend and regular favorite on the show, Christopher Mayer. Long time listeners will know Chris as the portfolio manager and co-founder of the Woodlock House Family Capital Fund , which he began with Bill Bonner back in 2018. Chris is also a published author who just released his latest book, Dear Fellow Time-Binder: Letters on General Semantics , which you can find here . His blog, in which he ruminates abou...
Sep 04, 2022•42 min
Welcome back to the Fatal Conceits podcast, a show about money, markets, mobs and manias… not necessarily in that order. In today’s episode, we’re joined by Bonner Private Research’s macro analyst, Mr. Dan Denning, who’s been monitoring the markets from his “fortress of solitude” up on the high plains of Laramie, Wyoming. After the worst first six months for stocks in half a century… the worst market for bonds in over two centuries… and the worst for a standard, 60-40 portfolio in… ever, we want...
Aug 20, 2022•29 min
And now for some more Fatal Conceits… Last week we brought you Part I of our conversation with Harvard trained geologist and natural resources expert, Byron King. There was a lot on the table for discussion. For instance… Have you noticed news from the Ukraine seems to have dwindled over recent weeks? What was once non-stop, wall-to-wall coverage now garners comparatively little attention. Of course, there are other issues at hand… like inflation at a four-decade high… the worst start to the yea...
Jul 29, 2022•25 min
And now for some more Fatal Conceits… Last week we brought you Part I of our conversation with Harvard trained geologist and natural resources expert, Byron King. There was a lot on the table for discussion. For instance… Have you noticed news from the Ukraine seems to have dwindled over recent weeks? What was once non-stop, wall-to-wall coverage now garners comparatively little attention. Of course, there are other issues at hand… like inflation at a four-decade high… the worst start to the yea...
Jul 28, 2022•25 min
And now for some more Fatal Conceits… In today’s episode of the Fatal Conceits podcast, we speak with energy and resources expert and Harvard-trained geologist, Mr. Byron King. In Part I of our conversation, Byron gives us his impressions of the recent PDAC miner’s conference up in Toronto, explains why “revenge travel” is turning airports into zoos and digs into all the resources that you didn’t even know came from Russia… but that the world will have a tough time doing without nevertheless. We...
Jul 19, 2022•34 min
Dear Listener, It’s been a wild year in the world of finance… and no place more so than in Bitcoinlandia. When we spoke to today’s guest, back in February of 2021, Bitcoin had just crested the $40k mark. It since rallied to $60k… plummeted to $30k… catapulted to $70k… and collapsed back to where it is now, somewhere in the low $20k zone. We begin today’s conversation with Charlie Morris on the subject of volatility. If Bitcoin aspires to be a viable, non-dollar asset, how important is stability ...
Jun 26, 2022•33 min
In this week’s Fatal Conceits Podcast, we’re joined by globetrotting editor of the Real Estate Trend Alert , Ronan McMahon... If the past few years have taught us anything, it’s that the “new normal” is unlikely to look anything like the “old normal.” That goes for the financial world as much as it does the job market and practically everything else about the way you live, work and even spend your leisure time. The “Great Covid Interruption” (and the governments’ responses to it) accelerated a n...
May 26, 2022•49 min
In this week’s Fatal Conceits Podcast we are joined by Bonner Private Research’s own macro man, Dan Denning... When we last touched base with Dan, back in late March, markets were enjoying (what hindsight now reveals was) something of a bear market bounce off their mid-month lows. But Dan was not convinced. He warned that “The Generals” (mega-cap S&P 500 stocks) were poised to beat a disorderly retreat… dragging the broader markets lower as investors “re-evaluated and repriced the future.” F...
May 19, 2022•42 min
In this week’s Fatal Conceits Podcast , we are joined by long time friend of the Bonner Private Research group, Mr. Byron King... A Harvard-trained geologist, ex navy pilot and nuclear weapons expert, Byron lends us his unique insights into the unfolding situation in the Ukraine… including sanctions blowback, the bifurcation of the global monetary system, a gold/methane-backed ruble… and what it all mean for the US and Europe. We also touch on the continued erosion of trust in America’s once-gre...
May 12, 2022•1 hr 2 min
“So there are a lot of lessons to be learned here about how governments can really clamp down. So when their policies and their central bank policies are failing, they'll try all sorts of tricks to stop people protecting themselves. You've got to essentially try and get ahead of them.” ~ Robert Marstrand, Investment Director for UK Independent Wealth Ed. Note: Learn more about Rob’s work at Fortune and Freedom, right here TRANSCRIPT: Joel Bowman: All right. Welcome back to the Fatal Conceits pod...
May 01, 2022•37 min
“Try to resist labeling yourself, resist taking on any label because that hems you in. Suddenly, you think yourself as an X. And there's some internal pressure to believe everything that an X believes. And it makes you take sides just based on a label rather than reasoning your way through the issues.” ~ Chris Mayer, manager and co-founder, Woodlock House Family Capital Bonner Private Research is a reader-supported publication. To receive new posts and support our work, consider becoming a free ...
Apr 24, 2022•43 min
“Wall Street focuses on earnings or quarterly earnings per share, adjusted earnings, adjusted EBITDA. All this garbage. And it's garbage because it's all adjusted and it's all in the hands of the wizards called CFOs, chief financial officers, and their departments. It's wizardry, it's not accounting.” ~ Eric Fry, editor of Fry’s Investment Report and The Speculator TRANSCRIPT: Joel Bowman: Welcome to another episode of the Fatal Conceits podcast, a show about money, markets, mobs and manias. I'm...
Apr 09, 2022•56 min
“[T]here are serious problems with our money system. You can either solve them in the way governments have solved them in the past, which is inflating away the debt, which is a huge quality of life issue for people right now on fixed incomes whose costs have gone up, whose rent has gone up, whose fuel has gone up, whose energy costs, whose food. That's happening now.” ~ Dan Denning, Publisher, Bonner Private Research TRANSCRIPT Joel Bowman: I'm Joel Bowman for the Fatal Conceits podcast, a show ...
Apr 02, 2022•38 min
“I don't actually see the world through the prism of left and right, I see it more as authoritarian versus libertarian.” ~ Dominic Frisby TRANSCRIPT Joel Bowman: Welcome to the Bonner Private Research podcast. I'm your host, Joel Bowman. Each week we bring you exclusive conversations with members of Bill Bonner's Private Research team, as well as some special guests we'll meet along the way. We're trying to connect the dots from high finance to lowly politics, private investments to public folli...
Mar 20, 2022
“I actually find myself pretty optimistic just to see people out in the streets because realistically, this stuff has been going on for a while, like financial censorship, speech censorship. So just seeing people out in the streets is encouraging because ultimately, I don't think the people's will will be denied for too long.” ~ Adam Sharp, Start-up Investor and Editor at HIVE Blockchain Technologies TRANSCRIPT Joel Bowman: Welcome to the Bonner Private Research Podcast. I'm your host, Joel Bowm...
Feb 26, 2022•46 min
“Much of the world's oil doesn't go to people just driving their cars to the mall. I mean, a big part of it goes to the trucks that pull everything around, to the ships that sail everything around, to the airplanes that fly everything around, to the plastics and to the precursor materials that go into everything that you wear. I mean, the buttons on your shirt, the soles on your shoes. It’s… everything.” ~ Byron W. King TRANSCRIPT: Joel Bowman: Before we get started, Byron, I was just looking at...
Feb 13, 2022•1 hr 4 min
“I'm not a gold bug. I'm not a gold guy. I don't buy gold out of some philosophical distrust of the system or anything like that. I'm actually an investment guy. I like stocks. I like investments. And I intend to have our savings in the stock market most of the time.” ~ Tom Dyson, Investment Director for Bonner Private Research TRANSCRIPT: Joel Bowman: Welcome back to the Fatal Conceits Podcast, a podcast about money, markets, manias, messiahs, masochists. We could probably come up with a bunch ...
Feb 06, 2022•46 min
“This is now the greatest financial crisis in American history. We don't know how long it'll last, whether it'll be something like the 1930s or whether it will be something more volatile and violent, but let's not be afraid to call it what it is.” ~ Dan Denning, Bonner Private Research TRANSCRIPT: Joel Bowman: Welcome back to the Bonner Private Research Podcast. I'm Joel Bowman coming to you from my home office down here in Buenos Aires, Argentina. Now, it is a capital city in the middle of Sout...
Feb 01, 2022•26 min
Time stamps - A rough guide... (00:50) - Intro (01:30) - Addison’s intro... (02:50) - Omicron and the wrong way to learn the Greek alphabet (03:50) - Morris, Alive - A novel investigation into the “Idea of America” (04:50) - All fiction is, in the end, autobiographical - Jorge Luis Borges (05:50) - Why it has become fashionable to denigrate America (08:05) - A look inside American culture... from an outsider’s perspective (10:20) - America as the home of the individual (11:20) - From Walt Whitma...
Dec 10, 2021•48 min
Time stamps - A rough guide... (00:50) (02:50) - Bill Bonner (03:00) - Advice from father of the bride - Start saving now (04:00) - What to do when inflation hits 50% (Learn mental math!) (05:00) - Trends in motion accelerated by a pandemic (06:30) - The US follows Tokyo... all the way to Buenos Aires! (08:30) - How the country is going down the tubes... let us count the ways (12:00) - How might 2021 years of progress come to a grinding halt? (15:00) - Out shrinking world - How the State curtail...
Oct 15, 2021•40 min
