1
00:00:00,320 --> 00:00:06,519
The speculative nature of gold that doesn't
yield interest, isn't all that attractive or

2
00:00:06,599 --> 00:00:11,599
isn't as attractive? I should say, well, returns go down to two

3
00:00:11,640 --> 00:00:16,039
percent, or we can recall the
days just a few years ago when you

4
00:00:16,079 --> 00:00:18,800
know if you got a half of
percent in a CD, that was a

5
00:00:18,839 --> 00:00:24,239
good return. When you have low
interest rates, gold becomes a lot more

6
00:00:24,359 --> 00:00:30,800
attractive and the allure becomes more present. You're listening to Carrie Let'sa's Financial Survival

7
00:00:30,839 --> 00:00:36,479
Network where you get valuable information you
just can't find anywhere else to thrive in

8
00:00:36,520 --> 00:00:41,960
today's trying times. You need the
Financial Survival Network now more than ever.

9
00:00:42,520 --> 00:00:48,240
Go to Financial Survivalnetwork dot com and
get your free newsletter and gift. Financial

10
00:00:48,399 --> 00:00:58,000
Survival Network now more than ever,
and welcome you are listening to and watching

11
00:00:58,039 --> 00:01:02,840
the Financial Survival Network. We got
one of our favorite guests back on with

12
00:01:02,920 --> 00:01:07,040
us. It's been a while,
Gary Wagner, The Goold Forecast dot Com.

13
00:01:07,200 --> 00:01:10,719
We're going to go over what's doing
with gold prices or whether you go

14
00:01:10,840 --> 00:01:15,239
all in or whether you wait?
When will the time be right? Make

15
00:01:15,280 --> 00:01:19,120
sure you check out gary site,
The Goold Forecast dot Com. Questions comments,

16
00:01:19,200 --> 00:01:23,159
kl at Carrie lets dot com.
All are answered. Gary. It's

17
00:01:23,159 --> 00:01:26,200
great to have you back on the
show. It's been a while. A

18
00:01:26,239 --> 00:01:32,200
lot has happened, gold trading at
all at or near all time highs.

19
00:01:32,519 --> 00:01:37,400
Silver not so much. But silver
is starting to make the long awaited move.

20
00:01:37,920 --> 00:01:41,239
But the question is are we all
going to be breathing by the time

21
00:01:41,359 --> 00:01:45,040
silver makes a new high. Thanks
so much for having me. It has

22
00:01:45,120 --> 00:01:48,640
been a while and it is great
to be back, Carrie. Thank you

23
00:01:49,359 --> 00:01:52,719
sure so. So where are we
heading here? Let's say some charts.

24
00:01:53,040 --> 00:01:57,159
You're the master of the precious metals
charts. Absolutely, I'm going to go

25
00:01:57,200 --> 00:02:01,000
ahead and not pull up a gold
chart for us, and this is a

26
00:02:01,400 --> 00:02:07,280
daily candlestick chart of gold, and
I've got it starting at the lows that

27
00:02:07,439 --> 00:02:13,800
came in back in October. And
to just think, just you know,

28
00:02:14,280 --> 00:02:19,560
not even a year ago we were
looking at nineteen hundred dollars silver. We

29
00:02:19,599 --> 00:02:23,319
went through a market that kind of
traded sideways the beginning of the year,

30
00:02:23,319 --> 00:02:30,000
but really took off in February hit
the first of two all time record highs.

31
00:02:30,360 --> 00:02:34,520
The second came in in May,
and now we're back to a support

32
00:02:34,639 --> 00:02:38,879
level of right around twenty three one
hundred dollars per ounce, and that's after

33
00:02:39,479 --> 00:02:44,719
watching gold correct from what about twenty
four fifty, And this is gold futures

34
00:02:44,759 --> 00:02:49,800
that we are looking at a little
bit price a little bit above spot pricing.

35
00:02:50,479 --> 00:02:55,639
It has been a phenomenal market.
And the Federal Reserve has not implemented

36
00:02:55,680 --> 00:03:02,159
its first rate cut because I believe
what's going to happen is there's very there's

37
00:03:02,159 --> 00:03:08,360
a very low probability that they're going
to implement a rate cut at the FOMC

38
00:03:08,520 --> 00:03:13,599
meeting this month, very little.
I think it's almost a ninety six percent

39
00:03:14,159 --> 00:03:19,759
probability of keeping them where they're at, but it goes up to almost seventy

40
00:03:19,840 --> 00:03:25,719
percent in September. And the key
to me is not that they're going to

41
00:03:25,759 --> 00:03:30,560
make a rate cut in September,
but when they do, that will signal

42
00:03:30,680 --> 00:03:36,520
a series of rate cuts, because
if you recall any of the most recent

43
00:03:36,599 --> 00:03:42,120
dot plots that are included in the
sept the Summary of Economic Projections, well,

44
00:03:42,120 --> 00:03:46,520
they were looking for three rate cuts
this year now too, further rate

45
00:03:46,599 --> 00:03:52,560
cuts next year, and then twenty
twenty six to normalize rates. And so

46
00:03:52,639 --> 00:03:57,319
if they're going to take their Fed
funds rate from between five and a quarter

47
00:03:57,479 --> 00:04:00,639
five and a half percent, where
they are now down to a normalized rate,

48
00:04:00,719 --> 00:04:04,759
which could be two and a half
rather than two, but nonetheless that's

49
00:04:04,800 --> 00:04:14,560
a big drop, and that will
really take gold into new unheard of territory

50
00:04:14,560 --> 00:04:18,319
in terms of new all time record
high pricing. All right, fascinating,

51
00:04:18,439 --> 00:04:24,720
fascinating. So you know, like
they always said, inflation doesn't pick up,

52
00:04:25,800 --> 00:04:30,319
not with low interest rates, but
when they raise interest rates, inflation

53
00:04:30,480 --> 00:04:36,279
starts picking up because then the banks
make more loans and private money creation takes

54
00:04:36,319 --> 00:04:41,920
off. But this time it's a
little bit different, isn't it. Well,

55
00:04:42,000 --> 00:04:46,600
absolutely, and realize that it's different
because of the environment that got us

56
00:04:46,639 --> 00:04:53,120
here, which started with a pandemic, then supply chain, bottomnecks, all

57
00:04:53,199 --> 00:04:59,360
kinds of issues from the United States
basically shutting down its workforce for a year

58
00:04:59,399 --> 00:05:04,399
a year and a half and then
rebuilding back into a normalized state. And

59
00:05:04,480 --> 00:05:10,000
so because of that, you had
a unique scenario that got us here.

60
00:05:10,399 --> 00:05:15,680
So you have a unique set of
circumstances that unfolded because of that. I

61
00:05:15,680 --> 00:05:20,040
would just say that Florida wasn't shut
down as much as the rest of the

62
00:05:20,079 --> 00:05:26,079
world or the country here. We
were shut down. I think about six

63
00:05:26,160 --> 00:05:31,040
weeks till somebody realized that, hey, half the state's going to go bankrupt

64
00:05:31,040 --> 00:05:35,839
if we don't start back to work
shortly. So but in any event,

65
00:05:35,879 --> 00:05:41,000
I totally agree with your analysis of
it. All right, so what else

66
00:05:41,000 --> 00:05:44,639
do we have here? So when
can we look forward? Do you think

67
00:05:44,879 --> 00:05:47,519
when's the right cut? They got
to have one by the end of the

68
00:05:47,600 --> 00:05:53,120
year. I'm shocked that they're not
doing it because because of the political season

69
00:05:53,199 --> 00:05:57,399
here to you know, one time, Alan Abelson, the late great editor

70
00:05:57,439 --> 00:06:01,160
of Barons, wrote that the Federal
Reserve is doing what it does best,

71
00:06:01,199 --> 00:06:06,360
which is getting a president reelected,
and they seem to have taken a hands

72
00:06:06,399 --> 00:06:11,560
off approach here. Gary, I
would hope that they would. They've got

73
00:06:11,600 --> 00:06:16,000
more serious problems. Although that's a
very serious problem in terms of the upcoming

74
00:06:16,040 --> 00:06:23,120
election. But the problem that they
are faced with is that the current level

75
00:06:23,519 --> 00:06:30,040
of interest rates are adding untenable sustainable
rate. Why, because we have a

76
00:06:30,240 --> 00:06:35,720
budget deficit, that's what forty four
trillion dollars, and so the Treasury Department

77
00:06:36,519 --> 00:06:44,560
is responsible for making good at least
servicing the interest on our debt. So

78
00:06:44,720 --> 00:06:50,160
as our debt goes up, the
payments balloon when you've got interest rates at

79
00:06:50,240 --> 00:06:56,199
four and five percent is opposed to
two percent, and both Powell as well

80
00:06:56,240 --> 00:07:02,600
as Treasury Secretary Yellen said that this
law level is absolutely unsustainable for any continued

81
00:07:02,680 --> 00:07:08,680
length of time. So I think
that the real headache that the FED is

82
00:07:08,800 --> 00:07:15,600
facing by not reducing their FED funds
rate is that it makes our government have

83
00:07:15,759 --> 00:07:21,959
such a more difficult job in just
servicing the interest on our national debt,

84
00:07:23,399 --> 00:07:28,800
let alone to say that it has
been ballooning and continues to grow. So

85
00:07:29,759 --> 00:07:35,720
you've got a scenario where our deficit
is growing and the cost to service it

86
00:07:35,839 --> 00:07:42,160
is increasing. That is the primary
problem. I think the Treasury and the

87
00:07:42,160 --> 00:07:45,319
Fed our faith right, I got
it. I have a solution for it,

88
00:07:45,879 --> 00:07:51,040
all right, really simple. We
take the President of Argentina Mile and

89
00:07:51,079 --> 00:07:59,240
we create a new cabinet position called
the Department of Slashing Government Spending, useless

90
00:07:59,279 --> 00:08:03,199
government spending, and we put him
in charge, and he does a Qatar

91
00:08:03,399 --> 00:08:07,959
Tatar Tatar tatar, and within probably
a week he only has to be there

92
00:08:09,000 --> 00:08:13,120
for a week, he will have
cut so much government spending that will have

93
00:08:13,160 --> 00:08:16,160
a surplus, and we'll be able
to pay our debt down probably in a

94
00:08:16,160 --> 00:08:22,199
few years. Wouldn't that be nice? Huhit short of that, I don't

95
00:08:22,240 --> 00:08:31,759
see any any solutions because every president
wholly embraces inflation and excessive government spending.

96
00:08:31,919 --> 00:08:37,200
Doesn't matter what party they're from.
Uh, there's only one party, incumbency

97
00:08:37,360 --> 00:08:41,879
or the UNI party, and that's
that, all right. So tell us

98
00:08:41,919 --> 00:08:46,080
silver, silver, silver, all
right. It's been holding onto my silver

99
00:08:46,240 --> 00:08:50,799
for years now. It seems I'm
thinking of melting it down into bullets and

100
00:08:50,840 --> 00:08:54,200
going becoming a vampire slayer. That
might be a good use for it,

101
00:08:54,240 --> 00:09:00,360
because it hasn't really gotten that much
more expensive. We're looking at a lead

102
00:09:00,440 --> 00:09:05,759
chart. This is in candlestick format
of silver, and what you can see

103
00:09:05,320 --> 00:09:11,480
is that we had a tremendous rise
from about twenty three dollars February, and

104
00:09:11,600 --> 00:09:18,720
it really surprised me when back towards
the middle of May it rose above thirty

105
00:09:18,840 --> 00:09:22,320
dollars. It's the first time we've
seen that. I think the last time

106
00:09:22,320 --> 00:09:26,799
we saw thirty dollars silver was about
two years ago. But then when you

107
00:09:26,840 --> 00:09:31,360
look at thirty two dollars silver,
it on a technical basis is a very

108
00:09:31,360 --> 00:09:35,600
interesting level. And I'll try to
show you why if I can get this

109
00:09:35,720 --> 00:09:41,200
in here. I'm going to compress
this to a weekly chart, and what

110
00:09:41,279 --> 00:09:46,399
you can see is all these series
of tops that came in in twenty twenty

111
00:09:46,799 --> 00:09:50,159
and so a move above this and
this is where it gets interesting, and

112
00:09:50,200 --> 00:09:54,000
I'm going to move it to a
monthly. No one trades or buys off

113
00:09:54,039 --> 00:09:56,919
a monthly, but I'll show you
what I'm talking about, and that is

114
00:09:56,960 --> 00:10:03,080
this, if silver out of clothes
using basis can move above thirty two dollars

115
00:10:03,399 --> 00:10:07,480
on a technical basis, you've got
really a little bit of resistance at thirty

116
00:10:07,519 --> 00:10:13,879
three, but nothing major till about
forty dollars. Silver has been a perplexing

117
00:10:15,399 --> 00:10:20,559
precious metal that it hasn't followed gold, it hasn't followed palladium or platinum.

118
00:10:20,559 --> 00:10:28,480
It's it's been in an isolated world
of itself in that as metals were running

119
00:10:28,519 --> 00:10:33,320
to record highs, silver was staying
flat. And at the same time,

120
00:10:33,879 --> 00:10:39,720
if you read a lot of articles
and events that came out in the media,

121
00:10:39,080 --> 00:10:46,240
they were talking about silver shortages and
squeezes, all these pundits and I

122
00:10:46,240 --> 00:10:48,480
think salesman really that we're saying,
you know, it's not if, but

123
00:10:48,559 --> 00:10:54,080
when silver going back to fifty,
well when it hasn't shown us historically that

124
00:10:54,080 --> 00:10:58,080
that has happened. And so if
you can see on this monthly chart,

125
00:10:58,559 --> 00:11:05,200
it's really back in twenty fourteen,
thirteen and twelve, and that was the

126
00:11:05,279 --> 00:11:09,879
last time silver really hit a high
that was an all time record high.

127
00:11:09,919 --> 00:11:16,120
And so because of that, a
break and a close above thirty two could

128
00:11:16,240 --> 00:11:24,519
be really significant and could signal a
challenge of those prices back ten years ago.

129
00:11:24,360 --> 00:11:31,639
Yeah. I so one thing that
a lot of people mistake the psychological

130
00:11:31,759 --> 00:11:35,720
number for the technical number. The
psychological number is the whole number of thirty

131
00:11:35,759 --> 00:11:41,639
bucks, and everyone thought happy days
are here again. But the technical number

132
00:11:43,039 --> 00:11:46,799
is what you've got there at thirty
two, thirty three around there. But

133
00:11:48,120 --> 00:11:52,399
you know, based on what you're
seeing here, the chart looks pretty good.

134
00:11:52,440 --> 00:11:54,600
It looks like it's forming a cup
with a handle, doesn't it.

135
00:11:56,200 --> 00:11:58,919
Well on that, let's take it
back to a daily because I just had

136
00:12:00,000 --> 00:12:03,720
to compress it so we could get
a strong idea. What I'm seeing is

137
00:12:05,559 --> 00:12:09,159
we hit this top at thirty three. This is back at the end of

138
00:12:09,240 --> 00:12:15,159
May trade it down to about twenty
three, and then over the last couple

139
00:12:15,240 --> 00:12:20,440
of days we've seen some real strike
and support come in right around twenty nine.

140
00:12:20,879 --> 00:12:26,559
There's resistance right below today's move on
this daily chart. Of course,

141
00:12:26,600 --> 00:12:33,240
we have a shortened trading week with
independence, say, being celebrated later this

142
00:12:33,320 --> 00:12:41,360
week. So my senses is that
we need to see sober challenge and trade

143
00:12:41,399 --> 00:12:48,480
above thirty two. And I believe
that is highly possible if gold trades to

144
00:12:48,600 --> 00:12:54,360
a new record high. And I
think that that is inevitable once the federal

145
00:12:54,360 --> 00:13:01,159
Reserve begins, right cuts, Yeah, yeah, And and so it's leading

146
00:13:01,200 --> 00:13:05,200
up to the rate cuts where everyone
knows it's going to happen, uh,

147
00:13:05,600 --> 00:13:09,759
and they're just waiting for them to
pull the trigger that could set it off

148
00:13:09,799 --> 00:13:13,519
too. Absolutely, all right,
anything else that we need to be looking

149
00:13:13,559 --> 00:13:18,279
at here? Those are the two
things I'm focusing on. I mean,

150
00:13:18,600 --> 00:13:22,480
what about interest rates? Interest rates
you track it separately because you know the

151
00:13:22,519 --> 00:13:28,159
metals are somewhat dependent upon them.
Well, we I am fairly firmly of

152
00:13:28,200 --> 00:13:35,840
the conviction, and history has kind
of proven out that lower interest rates bodes

153
00:13:35,919 --> 00:13:39,840
really well for gold, not so
much as an inflation hedge, but the

154
00:13:39,919 --> 00:13:48,039
fact that now it has less competition
against fixed incomes become less attractive. You

155
00:13:48,120 --> 00:13:54,480
can take four and five percent in
a fixed guaranteed income. The speculative nature

156
00:13:54,600 --> 00:14:00,000
of gold that doesn't yield interest isn't
all that attractive, or isn't as attractive

157
00:14:00,000 --> 00:14:05,720
I should say when returns go down
to two percent, or we can recall

158
00:14:05,799 --> 00:14:07,960
the days just a few years ago, when you know if you got a

159
00:14:09,000 --> 00:14:11,679
half of percent in a CD,
that was a good return. When you

160
00:14:11,759 --> 00:14:18,240
have low interest rates, gold becomes
a lot more attractive and the allure becomes

161
00:14:18,320 --> 00:14:22,679
more present. Hey, so Gary, if you had two hundred and fifty

162
00:14:22,720 --> 00:14:26,039
thousand that somebody just dropped on your
desk today, what would you do with

163
00:14:26,120 --> 00:14:31,759
it. I've put a good portion
in the precious metals long term. They're

164
00:14:31,879 --> 00:14:35,360
high now, I've looked to buy
the dips. But the fact that gold

165
00:14:35,440 --> 00:14:41,720
has held on to twenty three hundred. If you recall think about when gold

166
00:14:41,840 --> 00:14:46,559
traded to its first big record high
middle of twenty eleven. When it did

167
00:14:46,679 --> 00:14:54,360
that, it dropped to eighteen hundred
and then traded between eighteen hundred and fifteen

168
00:14:54,440 --> 00:14:58,399
hundred for a while and then spike
down to one thousand. So far,

169
00:14:58,600 --> 00:15:03,679
we have haven't seen that. We
have not seen the kind of correction that

170
00:15:03,799 --> 00:15:11,320
followed the last all time Ruging.
I the in the middle of twenty eleven,

171
00:15:11,799 --> 00:15:16,440
so I would have a portion allocated
to that there are in terms of

172
00:15:16,480 --> 00:15:20,399
equities. It's it's not a stock
market, my mentor taught me one time.

173
00:15:20,480 --> 00:15:24,320
It's a market of stocks. There
are some out there that I like.

174
00:15:24,519 --> 00:15:28,759
They might be over sold, like
in video, but I think their

175
00:15:28,879 --> 00:15:33,519
technology is unique and no one competes
with them, and so I would look

176
00:15:33,559 --> 00:15:37,720
to that the moat they got the
moat. Yeah, I think the precious

177
00:15:37,759 --> 00:15:45,360
metals are going to provide long term
stability and opportunity in the next say,

178
00:15:45,399 --> 00:15:48,799
three to five years. Okay,
as a financial guy looking at AI,

179
00:15:50,559 --> 00:16:00,840
what are your thoughts? Marvelous?
It is a disruptive, transformative technology that

180
00:16:00,000 --> 00:16:07,679
will reshape the world as we know
it. I mean, the use of

181
00:16:07,759 --> 00:16:12,759
these the chat bots and AI is
pretty much mixed into everything in every large

182
00:16:12,799 --> 00:16:18,519
company, whether it's Facebook, Google, the big ones, Apple, They're

183
00:16:18,679 --> 00:16:29,519
all implementing and integrating AI into their
platforms, and so it's become readily available

184
00:16:30,039 --> 00:16:36,120
to those that are somewhat savvy and
those that are novices to be able to

185
00:16:36,600 --> 00:16:41,559
polish a report by plugging it into
chat, GBT or into Claude, which

186
00:16:41,639 --> 00:16:48,320
is one that I happen to favor
and having it polish that within thirty or

187
00:16:48,360 --> 00:16:53,759
forty seconds. It sure beats the
days of grammarly and the days of spell

188
00:16:53,879 --> 00:17:00,399
checks. I mean, it's transformed
the ability to come out with a highly

189
00:17:00,440 --> 00:17:07,000
refined article that takes your thoughts and
doesn't change them if you put the prompts

190
00:17:07,000 --> 00:17:11,240
in properly, but organize it in
such way that you're always putting your best

191
00:17:11,279 --> 00:17:18,400
foot forward. It is going to
revolutionize so many components in so many industries

192
00:17:18,960 --> 00:17:26,039
that when we look back to twenty
twenty four and twenty five, five years,

193
00:17:26,119 --> 00:17:30,160
eight years from now, we are
going to realize that this was that

194
00:17:30,319 --> 00:17:41,160
pivotal moment in which AI began to
infuse itself into the everyday lives of working

195
00:17:41,279 --> 00:17:45,519
class and working Americans. I should
say, because it enals us to do

196
00:17:45,599 --> 00:17:52,720
so much more, work so much
quicker, and have a much more effective

197
00:17:52,799 --> 00:17:56,920
tool at whether your medium is speaking, writing, any vocation that you have,

198
00:17:57,519 --> 00:18:03,559
you can really hands it by the
proper use of AI. Now there's

199
00:18:03,599 --> 00:18:07,240
stangers with that, but we'll have
to see how those pan out. All

200
00:18:07,319 --> 00:18:11,880
Right, all right, I'm totally
agreeing with you. You know, I

201
00:18:11,880 --> 00:18:15,960
don't like to just use it to
generate stuff. But when I have stuff

202
00:18:17,200 --> 00:18:19,960
already that I could plug into it, it could be a nice place to

203
00:18:21,000 --> 00:18:23,920
start. I'd never kind of just
use it for batim. I don't trust

204
00:18:23,960 --> 00:18:30,920
it that much. And it's definitely
as a political skew because I like to

205
00:18:30,960 --> 00:18:37,559
be sarcastic. I put into the
thing, you know, the current occupant

206
00:18:37,599 --> 00:18:41,240
of the White House, like,
without getting political, is three top accomplishments.

207
00:18:41,319 --> 00:18:47,440
Number one ending a useless war in
Afghanistan, a twenty year war and

208
00:18:47,519 --> 00:18:53,279
bringing of the troops in a week. Number two was solving the labor shortage

209
00:18:55,799 --> 00:19:02,079
that was caused by the pandemic and
opening up the border to get all those

210
00:19:02,119 --> 00:19:08,000
new workers. And number three was
curing the hotel shortage with all the newcomers.

211
00:19:08,279 --> 00:19:14,400
And the thing like put together,
I'm laughing hysterically at it because those

212
00:19:14,400 --> 00:19:18,880
are three things that are very negative. I agree that the war needed to

213
00:19:18,039 --> 00:19:22,599
end. Who shouldn't have been there? Nation building all that, totally agree,

214
00:19:22,599 --> 00:19:27,039
but a little more orderly maybe,
and you know, legal immigration.

215
00:19:27,519 --> 00:19:33,599
But this thing like was lauding the
policies that they were the greatest things that

216
00:19:33,680 --> 00:19:38,400
ever happened, you know, So
anything political. My point is keep it

217
00:19:38,440 --> 00:19:42,359
away from the aid. We don't
need it, we don't want it.

218
00:19:42,960 --> 00:19:48,319
But uh, these journalists, these
people parading as journalists, well hey,

219
00:19:48,319 --> 00:19:52,680
we don't really need them anyway,
So just give it over to chat GPT

220
00:19:52,880 --> 00:19:56,359
and let that run with it.
Right, Well, Asie, I agree

221
00:19:56,359 --> 00:20:00,759
with you, I would not trust
it in any way to just do something

222
00:20:00,839 --> 00:20:07,039
for me. If I write a
think piece or an article, I will

223
00:20:07,079 --> 00:20:11,559
put it in on occasion into one
of the AI platforms, but I go

224
00:20:12,119 --> 00:20:18,319
use every fact in detail that I
presented, do not omit anything, go

225
00:20:18,079 --> 00:20:25,680
anything but polish and rewrite it.
Then it it really does a better job

226
00:20:25,759 --> 00:20:30,079
than say grammarly or something else to
spell check, but to order the way

227
00:20:30,200 --> 00:20:34,240
your your article is laid out,
but you have to tell it. Use

228
00:20:34,279 --> 00:20:38,799
every fact, use every use every
detail, don't admit and don't add,

229
00:20:40,480 --> 00:20:45,240
and then you can get something that
is truly more polished than what you put

230
00:20:45,279 --> 00:20:49,359
in without what they call hallucinations.
If you ask to do write an article

231
00:20:49,359 --> 00:20:52,240
on where you think gold is going
out, you know next three months,

232
00:20:52,880 --> 00:20:56,680
Lord knows you you can get anything. And if you ask it the same

233
00:20:56,759 --> 00:21:03,079
question ten times, you'll get ten
completely different answers. So in that way,

234
00:21:03,359 --> 00:21:07,720
it's laugh not laughable, but it
doesn't have the kind of benefits that

235
00:21:07,839 --> 00:21:15,359
it does if properly utilized. The
idea of text to video just amazes me

236
00:21:15,519 --> 00:21:19,559
what you can publish and what kind
of video you can create by old man

237
00:21:19,920 --> 00:21:23,839
sipping a bowl of soup in an
urban city and it comes out with these

238
00:21:25,079 --> 00:21:30,960
breath taking videos. So there's definitely
a transformation taking on. Totally agree with

239
00:21:32,000 --> 00:21:36,599
you. It's yeah, I don't
trust it. But like writing show notes

240
00:21:37,000 --> 00:21:41,720
and then reviewing them, I mean
I can tell when stuff's written by AI,

241
00:21:41,440 --> 00:21:47,400
and you know because eventually I just
this isn't real and I just stop

242
00:21:47,559 --> 00:21:52,880
listening or reading. But when you
write your own material and then you tell

243
00:21:52,920 --> 00:21:59,079
it to clean it up and don't
cut anything out, it can really do

244
00:21:59,160 --> 00:22:03,680
an admirable and save you a lot
of time. Look, I was paying

245
00:22:03,759 --> 00:22:08,400
somebody, yes, yeah, I
was paying somebody twenty thirty bucks an hour

246
00:22:08,440 --> 00:22:11,720
to write my show notes and you
know, I do a lot of content.

247
00:22:12,640 --> 00:22:17,759
And she was a great writer,
really polished, but she didn't really

248
00:22:17,880 --> 00:22:23,480
understand what I did. And you
know, then the Zoom has an app

249
00:22:23,960 --> 00:22:29,200
allthread dot AI, so I got
that and it would take notes and it

250
00:22:29,319 --> 00:22:33,000
was pretty darn good. I take
those notes, I make changes, I

251
00:22:33,200 --> 00:22:37,000
throw them into chat GPT or one
of the others, and it comes up

252
00:22:37,039 --> 00:22:44,119
with really good work. But it's
like it'll say in this insightful interview Carrie

253
00:22:44,200 --> 00:22:48,759
Lutz and Gary Wagner, it's just
like predictable with these platitudes and stuff,

254
00:22:48,960 --> 00:22:53,319
so you have to cut them out. But you know, outside of that,

255
00:22:53,880 --> 00:23:00,000
it's a timesaver. I think Gary, like when we hit like the

256
00:23:00,119 --> 00:23:04,799
nineties, basically, I think the
economy was headed for a real crash,

257
00:23:04,920 --> 00:23:10,119
and then the Internet came and I
thought it really saved us. Then the

258
00:23:10,160 --> 00:23:15,440
Internet crashed the stocks, but then
you know, we moved on from there.

259
00:23:15,480 --> 00:23:18,920
We have the war, economy,
everything else. But now I think

260
00:23:18,119 --> 00:23:22,720
we're in a similar position. The
economy is headed for an implosion. But

261
00:23:22,920 --> 00:23:27,839
AI, I think has the potential, well, I'm not fully convinced has

262
00:23:29,160 --> 00:23:36,559
the potential to really really change things
around. Unquestionably will the way I look

263
00:23:36,640 --> 00:23:41,799
at someone like myself and to a
degree you they're going to have. AI

264
00:23:41,960 --> 00:23:45,839
is going to be able to at
some point come close to duplicating what we

265
00:23:45,920 --> 00:23:48,640
do, but they won't be able
to duplicate our take and our thoughts and

266
00:23:49,000 --> 00:23:55,400
our I'll look on something the one
thing AI can do, and I'll leave

267
00:23:55,440 --> 00:24:00,559
this as a last kind of thought. I remember doing lectures in Indonesia and

268
00:24:00,640 --> 00:24:04,799
I had a translator because there's not
many English speaking people there, and the

269
00:24:04,960 --> 00:24:11,839
translator was hard pressed. If I
use something like a stochastic oslator, any

270
00:24:11,160 --> 00:24:18,119
technical jargon that a market technician would
use, they fell apart. Lost.

271
00:24:18,359 --> 00:24:23,200
It was just they were lost.
AI knows how to deal with any modality,

272
00:24:23,279 --> 00:24:30,640
whether it's medical, health, insurance
analysis. It knows the subtleties and

273
00:24:30,759 --> 00:24:40,440
the word tracks and specific vocabulary to
those vocations. And that what That's something

274
00:24:40,480 --> 00:24:44,039
that amazes me. The same here, I agree. So I go over

275
00:24:44,079 --> 00:24:48,200
to Gary site. It's still written
by a human being, thegoldfecast dot com.

276
00:24:48,440 --> 00:24:52,039
And you've got a question for Gary
myself. The email address is kl

277
00:24:52,480 --> 00:24:57,880
at Carrie Lutz dot com and the
link to Gary site is in the show

278
00:24:57,920 --> 00:25:03,640
notes to this in review on Financial
Survival Network dot com. So go there,

279
00:25:03,839 --> 00:25:07,640
sign up for your free newsletter.
Gary always a pleasure, great reconnecting.

280
00:25:07,680 --> 00:25:10,799
We'll talk to you again real soon. Absolutely, thanks for having me,

281
00:25:10,880 --> 00:25:15,480
Bye bye. Thanks for listening to
Carrie Lenz's Financial Survival Network your solution

282
00:25:15,759 --> 00:25:22,440
to today's trying times. For the
latest, go to Financial Survivalnetwork dot com.

283
00:25:22,440 --> 00:25:26,279
Financial Survival Network now more than ever,