Markets STILL not priced for Energy Shock, Credit Crisis; Apollo Silver update
Greetings, Investors! In between our usual rendezvous sessions after F.O.M.C. meetings, Michael Fox and I deemed it necessary to get togther again yesterday to assess the present state of the U.S./Israeli war against Iran, especially as signs suggest a building escalation.
And this, of course, right after President Trump teased the world (and markets, which bounced sharply in the last week) with the war ending.
I won’t even attempt to recap all of that, given the president’s regularly changing utterances.
(You can listen to Mike and I RIGHT HERE or by clicking on the graphic above.)
Regardless of where the war goes from here, we lay out the THREE key themes you MUST get your head around as investors, let alone as consumers and citizens:
1.Markets continue to be essentially oblivious to the long-term consequences to the global economy from the damage already done to energy supplies, infrastructure, trade and much more. They remain badly mis-priced.
2.The geopolitical order in the world has been violently upended in a way that goes WAY beyond Trump’s tariff/trade policies/attempts of the last year-plus. Few are discussing the evolving consequences of all that as well.
3.All the above is accelerating a reckoning for the Federal Reserve, which is caught between the upward pressure on inflation and interest rates on the one hand…and an unfolding credit crisis on the other which at some point will force them to aggressively ease monetary policy pretty much no matter where inflation then is.
I urge you to listen to these analyses–and more guidance we lay out on the markets–most notably on the trajectory of the ongoing correction in metals/precious metals equities and when that can be expected to reliably be over.
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On that subject, I’m working on new updates for our various individual companies. Some of those I occasionally share publicly in forums like this; most, though, are reserved for our Members.
Today, I want to point you to an update Cali Van Zant and I just did with Founder Andy Bowering of Apollo Silver (TSXV-APGO; OTCQB-APGOF); you can watch RIGHT HERE or by clicking on the below graphic.
Apollo, as many of you already know, is sitting on one of the largest primary silver resources in North America at its Calico Project (which I’ll be visiting later this month along with several other companies in a swing through the Southwest U.S.) in San Bernadino County, California.
That area, in case you weren’t aware, is BIG mining country; among others, hosting Equinox Gold’s big Castle Mountain Mine (which last year received federal Fast 41 designation for an expansion) and MP Materials’ rare earths project.
In Apollo’s case, it is moving forward with a P.E.A. at Calico, which also hosts resources in two other critical metals in addition to silver: zinc and barite.
As you’ll hear me say with Cali and Andy — and likewise in the new podcast with Michael — THIS is the time right now to be looking company-by-company to build or rebuild positions as the case may be for when the next up leg in what is STILL a secular bull market for metals resumes!
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THE LAMB OF GOD, WHO TAKES AWAY THE SINS OF THE WORLD!
Finally, I wish each of you a Blessed Easter Season and the comfort that our Redeemer — whose atoning sacrifice we especially remember today — has given us!
All the best,
Chris Temple
Editor/Publisher
From the desk of Chris Temple
Good Friday — April 3, 2026
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