Video News/In Focus with Jeremy Szafron

Hal Kempfer, CEO of Global Risk Intelligence & Planning and a retired Marine intelligence officer, says financial markets are underestimating the scale of geopolitical and supply chain risks developing across global trade and defense systems. Speaking with Kitco News Senior Anchor Jeremy Szafron, Kempfer discussed rising tensions involving China, Taiwan, and the Middle East, arguing that many investors remain too focused on short-term market narratives while broader strategic pressures intensify. Kempfer highlighted China’s expanding military-industrial capacity, growing strain on U.S. munitions stockpiles, and the increasing role of artificial intelligence in modern warfare. He also examined vulnerabilities in global supply chains and described potential geopolitical “black swan” scenarios tied to resource access and shipping chokepoints. Despite ongoing tensions around the Strait of Hormuz, Kempfer said current conditions could ultimately lead to an “abundance of oil” and lower energy prices over the medium term.