Pinnacle Digest

@DaveHcontrarian returns to lay out his updated thesis for the S&P 500, broader markets, and commodities. Hunter believes a final melt-up in the S&P 500 and precious metals is near, to be followed by a deflationary bust bigger than 2008, and then a policy response so significant it could push the Fed’s balance sheet toward $30 trillion… 📢 This video is sponsored by iTrustCapital. Pinnacle Digest is compensated by iTrustCapital for this sponsorship and may also receive a commission if viewers sign up and fund a new account using our link below. 👉 Learn more about opening an IRA account with iTrustCapital here: itrustcapital.com/go/pinnacle-di… In our latest podcast, David Hunter explains why he believes we are near the start of the final parabolic phase of the 43-year secular bull market, why sentiment is the real tell at major turning points, and why the next decade could feature both a deflationary shock and an inflationary aftermath. Hunter believes the post bust cycle could be led by real assets, industrials, and commodities, driven by reshoring, infrastructure expansion, data center power demand, and long supply lead times. 🎙️ In this episode • Why David Hunter moved his S&P target to ~9,500 • Gold and silver targets • How sentiment signals major inflection points • Kevin Warsh and why the Fed could be slower to react next time • The coming bust: why it may be deeper than a recession • Why the Fed may be forced into massive QE again • Dollar and treasuries as the flight to safety trade during the bust • Why commodities and industrials may lead the next cycle • Nasdaq, semis, and the rotation into small caps 📌 This video is for informational and educational purposes only and does not constitute investment advice. 🖥️ Visit Pinnacle Digest online: pinnacledigest.com ⚠️ Disclaimer and Forward Looking Statements Maximus Strategic Consulting Inc. is the owner and operator of Pinnacle Digest. References in this content to “Maximus Strategic Consulting Inc.,” “Pinnacle Digest,” “we,” “us,” or “our” refer collectively to Maximus Strategic Consulting Inc. and its Pinnacle Digest brand, platforms, and distribution channels. Maximus Strategic Consulting Inc. and Alexander Smith have financial interests in precious metals and precious-metal equities (including gold and silver), base-metal equities (including copper), and in broad equity markets, including S&P 500-linked investments. These positions may be bought or sold at any time without notice and may influence opinions expressed. This video is for informational purposes only and does not constitute investment, financial, tax, or legal advice. Nothing herein is a recommendation, endorsement, or solicitation to buy or sell any security or commodity. Investing involves risk, including loss of capital. Alexander Smith is not a licensed financial advisor. David Hunter is appearing as a guest and is not providing personalized investment advice. Past performance is not indicative of future results. Conduct independent due diligence and consult a licensed financial advisor before investing. Forward-Looking Statements: This podcast contains forward-looking statements about gold, silver, mining equities, the S&P 500, inflation, and broader macro and market trends. These statements include forecasts, targets, and scenario projections, are speculative, based on assumptions, and subject to risks and uncertainties that could cause actual outcomes to differ materially from those expressed or implied. To the maximum extent permitted by law, Maximus Strategic Consulting Inc., the host, and the guest disclaim liability for any loss arising from use of this video. Opinions expressed are subject to change without notice. CHAPTERS 00:00 - Intro 1:27 - Disclaimer and Forward-Looking Statements - PLEASE READ 1:39 - David Hunter's Melt-Up Update and S&P Target 4:54 - Gold and Silver Targets Updated 7:49 - David's Sentiment and Contrarian Framework 10:22 - Concern About Gold Being a Crowded Trade? 12:22 - Global Bust TIMELINE 19:03 - US Bonds, 10-Year Yield and Interest Rates 21:03 - Our Sponsor, iTrustCapital 22:20 - QE and the Fed's $30T Balance Sheet Scenario 24:43 - US Dollar Targets and Treasuries to Hold Up During Bust 30:39 - Deflation First, Then Inflation to Hit 20-25% as Ponzi Scheme Ends 39:34 - Interest Rates Heading Back to Zero and Negative During Bust 41:00 - Gold and Silver to Fall During Bust 42:50 - Commodity Super Cycle Leadership 49:05 - A Greater Depression and the Coming Sovereign Debt Crisis 58:03 - Final Indicator to Watch #davidhunter #stockmarkets #SP500 #NASDAQ #goldprice #silversqueeze #Commodities #federalreserve #macroinvesting #investing #MarketStructure

Gold has failed... At some point, investors have to ask the uncomfortable question: If gold can’t catch a bid during war, oil shocks, and inflation panic… what exactly is the market telling us? John Rubino breaks it down. 📢 This video is sponsored by iTrustCapital. Pinnacle Digest is compensated by iTrustCapital for this sponsorship and may also receive a commission if viewers sign up and fund a new account using our link below. 👉 Learn more about opening an IRA account with iTrustCapital here: itrustcapital.com/go/pinnacle-di… TIMESTAMPS 00:00 - Intro 01:02 - Why Isn’t Gold’s Price Rallying? 02:15 - John Rubino Explains Why Gold’s Price Is Going Dwn 03:24 - Did Gold’s Price Rise Foreshadow the Iran War? 04:21 - If The US Loses Iran War, What Happens to the Dollar? 06:00 - The Stock Market Will Take Gold and Silver Down With It 09:00 - Why Do People Buy Gold? 11:30 - Global Supply and Demand for Gold & 14:33 - Global Gold & Silver Mining Challenges 17:19 - Our Sponsor, iTrustCapital 18:06 - Long-Term Demand for Gold 21:10 - Does John Rubino Prefer Gold or Silver? 24:40 - Silver Market Manipulation 27:40 - Wrap Up

🚨 BREAKING: 🇮🇷 Iranian attacks have damaged around 17% of Qatar’s LNG production capacity, with disruptions expected to last 3–5 years. Qatar is one of the world’s top LNG exporters, supplying key markets across Europe and Asia. Source: @zerohedge

QatarEnergy CEO: We may have to declare force majeure on long-term contracts for up to five years for LNG supplies to Italy, Belgium, Korea, and China.

The best investors in the world are right 55% of the time. Veteran investment chief @BobEUnlimited explains the long-term mindset he learned from Ray Dalio at Bridgewater.

There is a historic divergence in oil prices across regions: Oman crude prices are up to ~$154/barrel, crossing $150 for the first time ever. At the same time, Dubai crude is up to ~$130/barrel, while Brent is trading at ~$102 and WTI at ~$93. In other words, the gap between Oman and US prices now stands at ~65%, or ~$61 per barrel. By comparison, before the Iran War, the difference between all benchmarks was just $5 in January and February. Brent and WTI are priced based on US and European supply conditions, while the actual disruption is concentrated in the Middle East, meaning they do not fully capture the severity of the physical shortage YET. If the Strait does not reopen, this divergence will narrow, as Brent and WTI will ultimately reprice higher once US and European oil reserves are depleted. The global oil market cannot sustain prolonged Middle East disruption.

🚨🇮🇷 Iran just hit 9 countries in a single night, including 7 of the wealthiest nations on earth This was Tehran's answer to Israel striking the South Pars gas field, the world's largest, earlier today. The most intense retaliatory barrage of the entire war, and Iran is now the only country on the planet simultaneously attacking seven of the richest nations by GDP per capita: 🇮🇱 Israel: Ballistic missiles and cluster munitions over central Israel. Two killed in Ramat Gan. Four Palestinian women killed in the West Bank by an Iranian missile. 🇶🇦 Qatar ($110K GDP per capita): 14 ballistic missiles fired. Ras Laffan LNG hub suffered "extensive damage" confirmed by QatarEnergy. 🇦🇪 UAE ($100K): 13 ballistic missiles and 27 attack drones intercepted. Iran threatening imminent strikes on energy facilities. 🇸🇦 Saudi Arabia ($35K): Evacuation orders issued for Samref Refinery and Jubail Petrochemical Complex. Waves of missiles intercepted over Riyadh. 🇰🇼 Kuwait ($75K): Ballistic missiles intercepted. U.S. facilities targeted again. 🇧🇭 Bahrain ($65K): U.S. 5th Fleet headquarters under continued assault throughout the war. 🇴🇲 Oman ($32K): Drone strikes on industrial zones. Workers killed. The last neutral Gulf state is now taking fire. 🇯🇴 Jordan: U.S. bases struck as part of the widening multi-front campaign. 🇮🇶 Iraq: U.S. Embassy in Baghdad under nightly drone siege. Combined GDP per capita of the Gulf states under attack: over $417,000. These are some of the most prosperous, developed nations on earth, and Iran is hitting all of them simultaneously while its own economy collapses. This is Operation Madman at full throttle: torch the region's wealth until the world demands the war stops. Source: @rami_hashimi / Reuters / @itswpceo

The top executive of North American pipeline operator TC Energy said Canada’s process for approving energy infrastructure projects is still far too slow, despite Prime Minister Mark Carney’s efforts to reform it bloomberg.com/news/articles/…

BREAKING: Iraq says gas supplies from Iran have been completed halted following Israeli strikes on the South Pars gas field. This is the world's largest natural gas reserve and is jointly operated by Iran and Qatar.

Canada’s population declined again in the fourth quarter as the number of non-permanent residents in the country continued to fall. bloomberg.com/news/articles/…

US producer prices jump above expectations, signaling rising inflation pressure investorshub.advfn.com/market-news/ar…

BREAKING: Investors have rotated into cash at the fastest rate since the COVID-19 pandemic amid the Iran war, with average cash holdings in portfolios rising to 4.3% of assets under management.

"Homeowners [in Canada] with stronger credit scores are increasingly defaulting on mortgage payments," per the Globe and Mail.

🚨🇮🇷🇺🇸 BREAKING: The Director of the National Counterterrorism Center just resigned over the Iran war. His reason, on the record: "Iran posed no imminent threat. We started this war due to pressure from Israel and its powerful American lobby." That's the man who ran U.S. counterterrorism. @joekent16jan19

Foreign investment inflow into Canada hits the highest level since 2007, per Bloomberg:

BREAKING: German Chancellor Friedrich Merz says Germany will not participate in President Trump's initiative to secure the Strait of Hormuz.

🇨🇦 Canada could face a new secession vote as betting markets now put the odds of an Alberta independence referendum this year at 55%. Alberta is the country’s main oil-producing province and a key pillar of Canada’s energy economy. Support for a vote is being fueled by anger over federal energy policies, carbon taxes, and financial transfers to other provinces. Some separatists have even floated the idea of Alberta joining the United States as the 51st state. Source: Polymarket

US gold reserves have never been this small relative to government debt: Gold reserves now reflect just 3% of US federal debt, one of the lowest readings on record. This comes despite the US holding 8,133.5 metric tons of gold, the largest stockpile in the world, and prices surging to record highs. By comparison, the ratio was ~18% in 1980, or 6x higher. At the same level of reserves, gold prices would have to rise +400%, to $26,000/oz, to match the 1980s peak. Meanwhile, in the 1940s, gold reserves backed over 50% of federal debt. To match the 1940s ratio, gold would need to surge +1,340% to ~$75,000/oz. Gold reserves are highlighting just how astronomical US debt has become.

Iran has launched drone strikes on Dubai International Airport. The BUSIEST airport in the world, with 95.2 MILLION passengers, has now SUSPENDED ALL FLIGHTS.

🚨 BREAKING: 🇨🇺 Cuba's electrical grid has suffered a complete and total collapse.

@clareanneath Greatest ad ever. 😢

Disney launched a new ad where a dad and son share a night time walk on a cruise ship, across an entire lifetime. Every parent needs to hear this: the moments feel small until they’re gone. Put down the phone. Spend the time. It’s the only thing they’ll remember.