The Contrarian Capitalist Podcast

This Wednesday 5th August 2026 Mid-Week Macro is sponsored by Norsemont Mining.
Norsemont Mining (OTC: NRRSF, CSE: NOM) is a Canadian resource development company focused on advancing and developing the past-producing Choquelimpie gold/silver/copper project in Northern Chile.
Mid-week Polymarket market
The surge in the gold price this week has seen the odds of gold hitting $4,400 in August go up from 11% to circa 57%. If this breakout gets confirmed, then I would imagine that gold would see $4,400 in August. Watch this space.
The Rule Symposium 2026 might have been and gone but you can still get access to all of the recordings, up until 31st December 2026.
NB - This is an affiliate link and if you chose to buy a virtual ticket then The Contrarian Capitalist will be compensated by Rule Symposium.
I have used The Jerz Group for the Paraguayan Residency process and can hands down say that it was a very good and hassle-free experience. The Jerz Group are able to help anyone worldwide. Use the button below to explore their available options, you should be able to book in a consultation with them, and please mention The Contrarian Capitalist when you get in touch with them.
GoldCore is an international precious metals specialist, offering secure access to physical gold and silver through one of the world’s most robust vaulting and logistics networks.
NB - This is an affiliate link and if you chose to store your metals with GoldCore then you will also be helping The Contrarian Capitalist. I do have holdings with GoldCore and can hand on heart say that they do a very good job.
Paid subscribers receive high conviction commodity research, weekly macro and commodity wraps with clear traffic light signals, and early access to podcasts and bonus insights.
The goal is simple: help you protect capital, understand the real forces driving markets, and identify asymmetric opportunities before they become mainstream.
Starting at just $9.17 per month (less than a couple of coffees), it’s cracking value to protect your wealth, defend your freedom and outsmart the system.
Podcasts & Posts & Article Links
Friend of the podcast Tavi Costa has this excellent chart out, showing a potentially clean break out in Gold Miners. Watch this space.
WTI Maintains Losses After Another SPR Drain, Distillate Stocks At 30-Year Seasonal Lows
DISCLAIMER: Nothing in this post/podcast/video should be construed as financial or investment advice. All content is provided for educational and informational purposes only. The views expressed are solely those of the author and do not constitute investment advice, a recommendation, or a solicitation to buy or sell any financial instruments. Always do your own research and consult with a qualified financial advisor before making investment decisions.


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Today’s podcast guest is Don Durrett of Don’s Newsletter and of goldstockdata.com.
AUDIO IS AVAILABLE HERE
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NB - Recorded on Tuesday 4th August 2026 PM
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In this wide-ranging conversation, Don discusses:
* Why record S&P 500 highs near 7,736 does not remove the risk of a Gold/S&P death cross
* Why 7,000 on the S&P 500 is the key level: a break lower likely forces Fed cuts while staying above points to the Fed holding
* Surface economic data looks fine but deep problems in housing affordability, the K shaped recovery, and rising living costs mean many young people cannot match their parents’ living standards
* How The Fed is stuck in a catch 22 and cannot fight inflation while also supporting the economy and stock market
* That Gold near $4,100 and silver near $59 are likely creating attractive dip buying opportunities in mining stocks
* Silver miners offer strong upside as silver could rise far more than gold; focus on undervalued producers with growth and a diversified group rather than a few picks
* Japan selling US Treasuries to support the yen is an early warning that further sales could push the 10-year yield above 5 percent, which is a potentially dangerous level
* The precious metals bull market remains in Phase 1 after Leg 1; Leg 2 would likely see $6,500 gold and the last leg (leg 3), the mania phase, is still some way off
* Why the window to buy undervalued miners is still open
* And much more
Contact Information & Previous Conversations
You can find Don Durrett, at Don’s Newsletter, X, at www.goldstockdata.com and also on YouTube.
How to Invest in Gold and Silver: A Complete Guide with a Focus on Mining Stocks
DISCLAIMER: Nothing in this post/podcast/video should be construed as financial or investment advice. All content is provided for educational and informational purposes only. The views expressed are solely those of the author and do not constitute investment advice, a recommendation, or a solicitation to buy or sell any financial instruments. Always do your own research and consult with a qualified financial advisor before making investment decisions.


This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit contrariancapitalist.substack.com/subscribe

Welcome to the Monthly Wrap for July 2026 with The Contrarian Capitalist and Tom Bradshaw, author of Beyond the Headlines.
5 small bits of housekeeping
This video was recorded on Saturday 1st August 2026 AM UK time
The chart deck was also inserted on Friday 31st July after market close. Bitcoin was added after recording on Saturday 1st August.
Please do continue to provide feedback
NB - None of this is to be constituted as investment or trading advice. We are NOT financial advisors.
Please subscribe to both The Contrarian Capitalist and Tom Bradshaw using the buttons below.
The Contrarian Capitalist
Tom Bradshaw/Beyond the Headlines
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Bullet pointed AI generated transcript (for those that don’t have time to watch the whole video)
July was a surprisingly busy month for markets despite the holiday season.
Natural gas (Dutch TTF) was the biggest mover, up nearly 36%, due to Middle East tensions and Europe struggling to secure supply.
Oil rose sharply (WTI ~24%, Brent ~29%) from shipping disruptions in the Persian Gulf and Red Sea, plus very low US emergency oil reserves.
Higher energy prices are pushing up inflation expectations and Treasury yields, which could hurt the economy and AI stocks that rely on cheap borrowing.
Gold held above $4,000 and edged higher; more short-term weakness is possible, but the long-term outlook remains strongly bullish.
US stocks were mixed: S&P 500 almost flat and still in an uptrend above 7,000, while the Nasdaq fell ~6.6% on AI weakness.
The US dollar weakened slightly and 10-year yields rose; higher yields do not automatically hurt gold and silver.
Asian markets struggled, with South Korea’s Kospi down over 22% and Japan’s Nikkei down ~11%.
Bitcoin gained about 7% but may face more downside in the coming months.


This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit contrariancapitalist.substack.com/subscribe

This Wednesday 29th July 2026 Mid-Week Macro is sponsored by Norsemont Mining.
Norsemont Mining (OTC: NRRSF, CSE: NOM) is a Canadian resource development company focused on advancing and developing the past-producing Choquelimpie gold/silver/copper project in Northern Chile.
Mid-week Polymarket market
With a nothingburger today, the odds of no rate cuts in 2026 have slightly further increased.
The Rule Symposium 2026 might have been and gone but you can still get access to all of the recordings, up until 31st December 2026.
NB - This is an affiliate link and if you chose to buy a virtual ticket then The Contrarian Capitalist will be compensated by Rule Symposium.
I have used The Jerz Group for the Paraguayan Residency process and can hands down say that it was a very good and hassle-free experience. The Jerz Group are able to help anyone worldwide. Use the button below to explore their available options, you should be able to book in a consultation with them, and please mention The Contrarian Capitalist when you get in touch with them.
GoldCore is an international precious metals specialist, offering secure access to physical gold and silver through one of the world’s most robust vaulting and logistics networks.
NB - This is an affiliate link and if you chose to store your metals with GoldCore then you will also be helping The Contrarian Capitalist. I do have holdings with GoldCore and can hand on heart say that they do a very good job.
Paid subscribers receive high conviction commodity research, weekly macro and commodity wraps with clear traffic light signals, and early access to podcasts and bonus insights.
The goal is simple: help you protect capital, understand the real forces driving markets, and identify asymmetric opportunities before they become mainstream.
Starting at just $9.17 per month (less than a couple of coffees), it’s cracking value to protect your wealth, defend your freedom and outsmart the system.
Podcasts & Posts & Article Links
Fauci’s Diary Reveals Collusion With Obama to Debunk Beagle Torture Program | ZeroHedge
Fauci pleads the 5th
DISCLAIMER: Nothing in this post/podcast/video should be construed as financial or investment advice. All content is provided for educational and informational purposes only. The views expressed are solely those of the author and do not constitute investment advice, a recommendation, or a solicitation to buy or sell any financial instruments. Always do your own research and consult with a qualified financial advisor before making investment decisions.


This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit contrariancapitalist.substack.com/subscribe

Today’s episode features John Passalacqua, CEO and Director of First Phosphate.
First Phosphate Corp is a Canadian mineral development company focused on extracting and purifying phosphate for the lithium iron phosphate (LFP) battery industry, with significant projects in Quebec.
CSE: PHOS – FSE: KD0 – OTCQX: FRSPF
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NB - Recorded on Monday 2nd February 2026 AM
John Passalacqua, CEO of First Phosphate, explains:
* The different types of phosphate that exist
* The importance of lithium iron phosphate (LFP) and Purified Phosphoric Acid (PPA)
* LFP uses, current supply and demand dynamics and why the future is very bright
* How First Phosphate is positioned to take advantage of this situation
* CATL, China’s largest producer and their recent large orders.
* Saguenay-Lac-Saint-Jean, Quebec, the region & the Begin-Lamarche site
* The importance of the agreement with Port Saguenay to establish the Phosphoric Acid Plant and to create a green supply chain
* Shares, managements skin in the game and the team that make up First Phosphate
* How much of an impact the phosphate price is on operations
* Why phosphate and lithium have to work hand in hand to benefit from the coming squeeze
* And much more
Useful Company Information/Press Releases
CSE: PHOS – FSE: KD0 – OTCQX: FRSPF
First Phosphate Website
First Phosphate LinkedIn
First Phosphate X
First Phosphate YouTube
First Phosphate general corporate video:
Mine site video:
https://www.firstphosphate.com/BeginLamarche3D
Latest visit by Natural Resources Minister Hodgson to our future phosphate processing site:
https://firstphosphate.com/minister-visit-first-phosphate-port-saguenay/
Our latest site visit with local, federal and international dignitaries. A strategic igneous phosphate resource for Europe?:
We recently announced our agreement with Port Saguenay for our phosphoric acid facility. Please see who was present:
https://firstphosphate.com/first-phosphate-port-saguenay-agreement/
We recently created the first LFP batteries from fully North American critical minerals:
https://firstphosphate.com/first-phosphate-produces-lfp-battery-cells-using-north-american-critical-minerals/
This development was presented at the OREBA3 conference in Montreal:
The very accessible and green-produced phosphate from Lac-St-Jean is at the heart of the Bloc’s proposed strategy for Quebec’s economy in the context of the trade and climate crises. It is a strategic and critical mineral whose niche is included in the list of Quebec’s eight characteristic economic sectors.
It is essential for electric transportation, and the First Phosphate project is a regional success that will help mitigate the effects of tariffs on wood and aluminium. Congratulations to our colleagues in the region!
A recent post from the Belgian Embassy in Ottawa:
https://www.linkedin.com/posts/belgiumincanada_canada-criticalminerals-quaezbec-activity-7341926800085663744-LlFH/?
Our management and board works almost entirely for shares in the company to preserve cash for corporate development and as we believe in the future of what we are building. Our board often buys stock in the market. Our CEO also personally bought $650,000 of stock in the market between January 2025 - May 2025 while the global trade war situation was at full peak to support our stock and our shareholders.
https://www.linkedin.com/feed/update/urn:li:activity:7423301949120335872/
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Paid subscribers receive high-conviction written research, weekly commodity and market wraps with clear traffic-light signals, and early access to podcasts and bonus macro insights, all designed to support capital protection and asymmetric opportunity spotting.
Thank you for being part of The Contrarian Capitalist community!
DISCLAIMER: Nothing in this podcast/video should be construed as financial or investment advice. All content is provided for educational and informational purposes only. The views expressed are solely those of the author and do not constitute investment advice, a recommendation, or a solicitation to buy or sell any financial instruments. Always do your own research and consult with a qualified financial advisor before making investment decisions.
Please also note that The Contrarian Capitalist does not have a position in First Phosphate at the time of this recording.


This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit contrariancapitalist.substack.com/subscribe