Risks Higher Than Any Time Since 1941? Jeffrey Christian on Metals & War

Описание: Recorded on December 3, 2025.

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.

Guest & company links
CPM Group — official website: https://cpmgroup.com

Jeffrey Christian biography & CPM Group background: https://cpmgroup.com/biography-jmc/

CPM Group video library (market updates & presentations): https://cpmgroup.com/video-library/

Host & channel links — Steve Yang / Natural Resource Stocks
Website: https://www.NaturalResourceStocks.net

YouTube main channel:    / @naturalresourcestocks  

YouTube clips channel:    / @naturalresourestocksclips  

X (Twitter): https://x.com/TheSteveYang

LinkedIn:   / thesteveyang  

Timestamps / chapters (adjust to final cut)
00:00 Intro and CPM Group background
01:00 Silver up $10, gold up $150 – what really happened
04:00 How CPM Group separates metals signal from noise
12:00 Central banks: from sellers to buyers of gold
18:00 BRICS currency talk vs reality
31:00 How currency systems fail and why this one hasn’t yet
37:30 Global risk higher than any time since 1941?
52:00 How institutions actually use CPM Group research

Financial disclaimer (summary)
All content from Galt Consulting Group (dba NaturalResourceStocks.net) is for informational purposes only and is not investment advice. We may buy or sell securities of companies mentioned and may work with sponsors; any such positions will be disclosed on our public channels. Investing involves risk, including possible loss of principal. Always do your own due diligence and consult a qualified financial professional before making investment decisions. By watching or reading our content, you agree that you alone are responsible for your decisions and that Galt Consulting Group and its affiliates are not liable for any losses.