In a fascinating discussion, Adam Rozencwajg joined host Grant Williams on The Grant Williams Podcast to delve into the intricate world of commodity markets and their far-reaching implications for the global economy. The conversation uncovers a hidden dynamic in the financial landscape, where the suppression of commodity markets is fueling a widespread carry trade, leaving investors heavily leveraged in growth and speculative stocks. As Adam explains, this delicate balance could be on the verge of a dramatic shift, potentially leading to a significant revaluation of real assets.
They also explore the future of energy, with a particular focus on the transformative potential of nuclear power. Adam highlights the promise of small modular reactor technology as a game-changer in the pursuit of clean, safe, and efficient energy sources. He also addresses the limitations of the U.S. shale boom and its implications for domestic oil and gas production.
Finally, the conversation concludes with an exploration of gold’s resurgence as a monetary asset, hinting at possible changes in the global financial system that could reshape the economic landscape for years to come.
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NOTE: This is an audio-only recording (no video). To download the Q3 2024 commentary research Grant Williams mentions at the start of the podcast, click here. To download the Q4 2024 commentary, click here.
This interview was filmed February 2025.
Want to learn more from Goehring & Rozencwajg? We invite you to download or revisit our entire Q4 2024 investor research letter, which is available below.
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