1 00:00:00,120 --> 00:00:04,400 Hard part when you're talking about gold or even the stock market at this point 2 00:00:04,639 --> 00:00:08,000 is we're at all time highs. You know when when you've been at a 3 00:00:08,080 --> 00:00:11,519 high and then you pull back and then you rally again. You can look 4 00:00:11,560 --> 00:00:14,240 at it go okay, there's you can look at the charge where there should 5 00:00:14,240 --> 00:00:17,399 be resistance here and there should be support there, and that kind of thing, 6 00:00:17,440 --> 00:00:22,199 because we have history. You're listening to Carrie Leutz's Financial Survival Network where 7 00:00:22,239 --> 00:00:27,719 you get valuable information you just can't find anywhere else to thrive in today's trying 8 00:00:27,800 --> 00:00:33,359 times. You need the Financial Survival Network now more than ever. Go to 9 00:00:33,439 --> 00:00:40,200 Financial Survivalnetwork dot com and get your free newsletter and gift. Financial Survival Network 10 00:00:40,640 --> 00:00:49,679 now more than ever. Welcome you are watching and listening to the Financial Survival 11 00:00:49,719 --> 00:00:54,359 Network. I'm your host, Carrie Lutz. Hey, we're exactly in mid 12 00:00:54,399 --> 00:00:59,359 May here. Interesting things are going on with a dollar, copper, oil, 13 00:00:59,799 --> 00:01:03,840 gold, and silver, not the least of which our good friend from 14 00:01:03,960 --> 00:01:08,120 TF Metals Report dot com, Craighempke is with us now to go through these 15 00:01:08,200 --> 00:01:12,319 markets. Greg, Great to see you. So what is going on with 16 00:01:12,400 --> 00:01:17,920 these markets here? A lot? How's that? That's just okay, you'd 17 00:01:17,959 --> 00:01:22,319 be more vague. You know, it's been a remarkable year so far, 18 00:01:22,439 --> 00:01:29,439 especially you know with my focus of the precious metals, we hear the metals 19 00:01:29,439 --> 00:01:33,560 have broken out for a number of different reasons. Obviously, everybody wants to 20 00:01:33,799 --> 00:01:37,760 narrow it down to one, and I think that's impossible. There's there's probably 21 00:01:37,840 --> 00:01:44,159 five or six. But they've broken out before the FED started to cut. 22 00:01:44,959 --> 00:01:47,760 You know, we we have fought our way through. I mean, used 23 00:01:47,760 --> 00:01:53,239 to go back to the first of the year. Carry market market was anticipating 24 00:01:53,480 --> 00:01:57,840 seven rate cuts. All right, where are dollary decks? Was a hurt? 25 00:01:57,120 --> 00:02:01,000 Good? Yeah, well that just it. So if you know, 26 00:02:01,280 --> 00:02:05,439 we go back and I'm sure we were probably and when I put out my 27 00:02:05,439 --> 00:02:08,800 annual forecast back in January, I bet that we probably spoke back then and 28 00:02:08,879 --> 00:02:12,240 we talked about how, you know, that's got to come down. There's 29 00:02:12,280 --> 00:02:15,280 no way they're cutting rates seven times. That's just not going to happen. 30 00:02:15,840 --> 00:02:20,159 And so we have fought our way through, going from seven rate cuts down 31 00:02:20,159 --> 00:02:24,319 to like one maybe two dollar inext going from one hundred and one to one 32 00:02:24,360 --> 00:02:28,879 hundred and six, and that's back under one oh five yeld of the ten 33 00:02:28,919 --> 00:02:32,800 year notes got up by fifty basis points, and yet gold's up some fifteen 34 00:02:32,879 --> 00:02:37,280 percent year today. Now maybe I don't know, Maybe it's just gotten way 35 00:02:37,280 --> 00:02:39,599 out ahead of itself. I don't know, but I think there's a combination 36 00:02:39,719 --> 00:02:43,719 of factors going on here that have driven this. And now you throw on 37 00:02:43,879 --> 00:02:49,319 this notion that the economy's rolling over, we're getting into that stagflation you and 38 00:02:49,319 --> 00:02:53,360 I have been talking about for four years. We could get another surge higher 39 00:02:53,360 --> 00:02:59,000 in the precious metals, relatively similing in that I think would be fun for 40 00:02:59,080 --> 00:03:01,520 everyone. If five hundred, Yeah, if you look at the charge, 41 00:03:01,599 --> 00:03:05,520 see, that's what's always hard carry, you know, because then you know, 42 00:03:05,560 --> 00:03:07,360 I like to look at the charts. I'm not like sure Is Elliott 43 00:03:07,360 --> 00:03:10,800 wave guys and all this other jazz. But I do think you combine that 44 00:03:10,840 --> 00:03:15,039 with fundamental stuff and it kind of gives you a picture, you know, 45 00:03:15,199 --> 00:03:19,520 which way the market is heading. Hard part when you're talking about gold or 46 00:03:19,680 --> 00:03:23,319 even the stock market at this point is we're at all time highs. You 47 00:03:23,319 --> 00:03:25,840 know, when when you've been at a high and then you pull back and 48 00:03:25,879 --> 00:03:29,840 then you rally again. You can look at it go okay, there's you 49 00:03:29,840 --> 00:03:31,759 can look at the charge where there should be resistance here and there should be 50 00:03:31,800 --> 00:03:35,800 support there, and that kind of thing, because we have history but goals, 51 00:03:36,159 --> 00:03:39,840 and it's never been before. Yeah, you're off you know, beyond 52 00:03:39,879 --> 00:03:44,759 which there be dragons. Right, You're off the map, and so that 53 00:03:44,840 --> 00:03:49,039 makes it difficult. But I do think there's ways you've been kind of project 54 00:03:49,039 --> 00:03:54,000 it forward and just just kind of natural sentiment of things, and so yeah, 55 00:03:54,240 --> 00:03:59,000 you know, I uh, there will probably be an inclination here from 56 00:03:59,000 --> 00:04:03,000 where we are here on the fifteenth of May, there'd be an inclination or 57 00:04:03,000 --> 00:04:08,800 an effort made to paint some double tops, so people should be on the 58 00:04:08,800 --> 00:04:12,639 lookout for that. You go back to the middle of April, five weeks 59 00:04:12,639 --> 00:04:18,000 ago or so, Gold got up to about twenty four to twenty Silver got 60 00:04:18,040 --> 00:04:24,800 within a whisker of thirty airs breath. Yeah, yeah, and then you 61 00:04:24,839 --> 00:04:28,759 know pulled back you know, some natural resistance there, especially in silver, 62 00:04:29,199 --> 00:04:32,879 and now here we are getting back those levels. I would anticipate an effort 63 00:04:33,000 --> 00:04:36,680 made to paint the charts with a double top sometime in the next week or 64 00:04:36,680 --> 00:04:41,720 two, just as a line of defense for all of these banks that have 65 00:04:41,879 --> 00:04:44,920 all of these shorts. I mean again, when you're in an all time 66 00:04:45,000 --> 00:04:50,079 high, every short is underwater. Every short ever created is underwater. So 67 00:04:50,160 --> 00:04:55,240 that has to be managed. So I would anticipate that. But you know, 68 00:04:55,959 --> 00:05:01,319 Powell Terry, when back at the March FMC interviews that he did after 69 00:05:01,360 --> 00:05:06,639 that and then again at the May FMC said he is watching the labor market 70 00:05:06,680 --> 00:05:12,399 real closely. He knew the thing they hike too late and inflation got away 71 00:05:12,439 --> 00:05:15,120 from him. He doesn't want to cut too late, and they have the 72 00:05:15,160 --> 00:05:20,319 economy tank and so he has said, and I'm not I got paraphrasing, 73 00:05:20,879 --> 00:05:24,879 but I'm anybody canna look this up. He has said repeatedly that if he 74 00:05:24,959 --> 00:05:29,439 sets his weakness in the labor market, they will cut. They'll put inflation 75 00:05:29,600 --> 00:05:31,519 on the back burner and they'll cut. Well, we're starting to see that 76 00:05:31,519 --> 00:05:35,920 that the latest jobs report was weak. Some of the internal stuff over the 77 00:05:36,000 --> 00:05:40,800 last couple of weeks has been a week. So if we get now into 78 00:05:40,800 --> 00:05:45,600 the summertime and all of a sudden the Fed does cut or start out actively 79 00:05:45,600 --> 00:05:48,639 talking about cutting, any double top painting by the banks isn't going to hold. 80 00:05:48,839 --> 00:05:51,399 And that's what we'll look for. You that'll be the signal. Hey, 81 00:05:51,720 --> 00:05:55,600 So yeah, I don't see where they have any choice. They're going 82 00:05:55,639 --> 00:05:58,879 to have to cut and we talked about that, but they want to put 83 00:05:58,920 --> 00:06:04,160 it off to the last possible moment. On the other hand, the FED, 84 00:06:04,240 --> 00:06:12,720 Powell said Chairman Powell absolutely despises the challenger to the throne and has come 85 00:06:12,759 --> 00:06:16,839 out, maybe not on the record, but through leaks as supporting the current 86 00:06:16,920 --> 00:06:24,759 occupant of the White House. So I remember one time Alan A. Wilson 87 00:06:24,839 --> 00:06:30,480 wrote in Barons he was a longstanding editor Barons. He said, the FED 88 00:06:30,560 --> 00:06:35,160 is now doing what it does best, helping to get a president re elected. 89 00:06:35,519 --> 00:06:40,240 Yeah, when are they going to fall into that mode? Right? 90 00:06:40,319 --> 00:06:44,360 Because they are a political institution, even though they pretend not to be. 91 00:06:44,920 --> 00:06:49,360 But everything is political nowadays, no doubt. And that was and I mentioned 92 00:06:49,399 --> 00:06:53,959 that forecast for this year. I had to write about that because that's to 93 00:06:53,959 --> 00:06:59,319 be expected, right. I mean, even if you think Powell is at 94 00:06:59,319 --> 00:07:01,199 the top, is try so hard to be a political and he wears a 95 00:07:01,199 --> 00:07:06,399 purple necktie every time you see him in public, right, Yeah, just 96 00:07:06,480 --> 00:07:10,639 like mother Yellinois wears that purple pants suit. You know, they're trying to 97 00:07:10,680 --> 00:07:14,480 give this subliminal message that they're a combination of red and blue. It's not 98 00:07:14,560 --> 00:07:23,759 my mother. So there will be pressure as we go through the summer. 99 00:07:24,199 --> 00:07:29,759 It will start. It's already started with Folcahattas and Bernie Sanders at AOC, 100 00:07:30,680 --> 00:07:32,680 you know, all talking about, oh, the people need a break, 101 00:07:32,800 --> 00:07:35,160 you know, credit card rates you're so high, you know, and all 102 00:07:35,199 --> 00:07:40,680 this kind of stuff. The pressure will mount. We've seen now, you 103 00:07:40,720 --> 00:07:44,279 know, this uptick back up in the unemployment rate. You know, the 104 00:07:44,399 --> 00:07:48,040 job's number, the headline number they always tout, whatever, but the unemployment 105 00:07:48,120 --> 00:07:50,560 right is what Powell says he's going to be watching. It ticked down, 106 00:07:50,639 --> 00:07:55,720 it ticked back up, it starts trending above four four, four point one, 107 00:07:55,879 --> 00:08:00,319 four point two. It'll come and then we'll see how the markets bond 108 00:08:00,360 --> 00:08:03,959 to that. They might initially go blonkers. You know, you might get 109 00:08:03,959 --> 00:08:07,160 the S and P to surge another eight ten percent or something, and that 110 00:08:07,240 --> 00:08:11,240 might be enough to surge gold up to twenty five twenty six hundred, and 111 00:08:11,319 --> 00:08:15,800 silver through thirty to thirty five. Then about that time, that might be 112 00:08:15,839 --> 00:08:18,959 the time that when everybody's all excited, that we start getting you know, 113 00:08:18,000 --> 00:08:22,360 we get a pullback again, but I sure think that. I mean, 114 00:08:22,360 --> 00:08:26,160 Paul has told you that hillcut rates if there's any sign of weakness in labor 115 00:08:26,199 --> 00:08:28,319 mark, and we're certainly starting to see that weakness where I see in layoffs 116 00:08:28,319 --> 00:08:31,759 galore. I think it's been long, but the numbers are all cooked. 117 00:08:31,799 --> 00:08:35,960 I mean, you just can't believe any numbers. But right, big news. 118 00:08:37,080 --> 00:08:43,480 Copper on the CRIMEX broke five bucks. Hey, it's trading it close 119 00:08:43,519 --> 00:08:50,320 to that in the London Metals Exchange. What is your take on it? 120 00:08:50,759 --> 00:08:54,000 It's different than mine. Well, I apologize if that little noise came through 121 00:08:54,039 --> 00:08:58,320 somebody trying to call me on Skype, So I don't know a fat don't 122 00:08:58,360 --> 00:09:01,279 you love it and hear it? We're good good anyway, if I look 123 00:09:01,360 --> 00:09:07,679 distracted for a minute. Copper is a very interesting story. We relate this 124 00:09:07,720 --> 00:09:13,000 all evently back to silver, right, because silver's banging up against this thirty 125 00:09:13,039 --> 00:09:16,840 dollars level which has contained it now for almost four years. Okay, gold 126 00:09:16,919 --> 00:09:24,159 broke out of its range back in March and immediately shot more than ten percent 127 00:09:24,240 --> 00:09:28,159 higher, right, and it's still up here. Did that break silver out? 128 00:09:28,279 --> 00:09:31,120 No? Okay, Well, maybe if gold goes higher it will well 129 00:09:31,120 --> 00:09:35,440 what else could break drag silver kicking and screaming a move in copper, because 130 00:09:35,480 --> 00:09:39,559 copper and silver at this point are basically I mean, silver is more like 131 00:09:39,600 --> 00:09:43,679 copper than it is gold at this moment in history. Yeah, he was 132 00:09:43,720 --> 00:09:50,559 a conductor of electricity and everything else still has monetary components that may return at 133 00:09:50,559 --> 00:09:52,919 some point. You got people invest in silver. They don't invest in copper, 134 00:09:54,000 --> 00:09:58,679 but you get the idea. Okay, I refer back. I mentioned 135 00:09:58,679 --> 00:10:05,279 this this forecast I every year. In January of twenty twenty three, in 136 00:10:05,320 --> 00:10:09,720 my forecast, I had a whole section on copper because as twenty twenty three 137 00:10:09,799 --> 00:10:15,000 began, there were all sorts of analysts and investment banks, even golden Sachs 138 00:10:15,279 --> 00:10:20,600 that were saying above ground copper stock piles could be extinct by August, not 139 00:10:20,720 --> 00:10:26,080 August this year, August last year. Wow, and copper was going right, 140 00:10:26,440 --> 00:10:33,559 and then it isn't never die. They found some I guess what warehouse 141 00:10:33,720 --> 00:10:37,879 was it? The lurking in exactly? Well, now hold on, let's 142 00:10:37,919 --> 00:10:43,519 fast forward about an extra eight months. Maybe they were all early. Maybe 143 00:10:43,600 --> 00:10:46,960 they were all early, because now copper is going through the roof. We're 144 00:10:46,960 --> 00:10:52,759 seeing all kinds of sides that kind of I found something on Twitter about some 145 00:10:52,600 --> 00:10:56,120 what I kind of now the name has cased me, but some rates that 146 00:10:56,399 --> 00:11:03,200 smelters pay for copper con to trade being negative, meaning they're paying for it 147 00:11:03,440 --> 00:11:07,919 trying to secure supply. All these different signs that copper is suddenly in a 148 00:11:09,399 --> 00:11:13,600 serious supply shortage. So maybe you know, some of these banks that were 149 00:11:13,639 --> 00:11:18,120 looking for above ground copper to really be in trouble and supply shortages by late 150 00:11:18,279 --> 00:11:22,879 last year, maybe that's now all coming to fruition. The price people should 151 00:11:22,919 --> 00:11:28,240 watch, though, is not the COMEX copper price. That's what gets quoted 152 00:11:28,279 --> 00:11:33,480 all the time. As we record this earlier today that went to five thirteen 153 00:11:33,559 --> 00:11:37,080 a pound and then immediately fell back, like to for eighty five a pound. 154 00:11:37,120 --> 00:11:39,679 I mean that's a huge move, went up seven percent and then fell 155 00:11:39,799 --> 00:11:46,279 five percent. That's all speculus stuff. There's no copper that gets delivered in 156 00:11:46,440 --> 00:11:52,120 New York, just like there's no gold or silver apermarket. Right. If 157 00:11:52,159 --> 00:11:56,559 you want to watch the copper price, watch the LME price of London Metals 158 00:11:56,559 --> 00:12:01,600 Exchange. That's more of your international benchmark. It's an actual functioning market to 159 00:12:01,679 --> 00:12:07,519 actually deliver metal there. That's the one that right now, it's about two 160 00:12:07,559 --> 00:12:09,759 hundred dollars a ton. You could do that math and go, okay, 161 00:12:09,840 --> 00:12:13,480 well there's two thousand pounds and a ton, so that's five dollars a pound. 162 00:12:15,159 --> 00:12:18,519 What the comax price is going to continue to do this kind of stuff? 163 00:12:18,080 --> 00:12:24,080 Right in terms of copper, they'll watch that that that tonnage price, 164 00:12:24,399 --> 00:12:28,519 it got up to ten thousand dollars, kind of ran into psychological resistance, 165 00:12:28,600 --> 00:12:33,120 banged around. It's now really established a foothold above ten thousand. A lot 166 00:12:33,159 --> 00:12:37,440 of the big investment banks have moved up their price target and now twelve thousand 167 00:12:37,440 --> 00:12:41,559 dollars a ton. Okay, Well, if that's the case, then you 168 00:12:41,639 --> 00:12:46,440 could expect that comax copper price to go to five seventy five eighty six dollars 169 00:12:46,519 --> 00:12:50,480 all time highs. And now getting back finally to where I started this carry. 170 00:12:50,720 --> 00:12:54,519 Yeah, if gold goes higher because of what's Powell's doing all this kind 171 00:12:54,519 --> 00:12:56,639 of stuff and goes to say twenty five hundred, and if copper goes to 172 00:12:56,679 --> 00:13:01,759 six dollars a pound, Silver's not gonna stay at twenty eight twenty nine, 173 00:13:01,000 --> 00:13:05,039 Okay, It's just not. And so when it finally gets drag kicking and 174 00:13:05,080 --> 00:13:09,519 screaming through that resistance level at thirty it's a really high likelihood it will go 175 00:13:09,559 --> 00:13:13,159 to thirty four, thirty five in relatively short order. That's gonna have big 176 00:13:13,200 --> 00:13:16,360 impacts on the mining shares. And that's all something people show. So watch 177 00:13:16,440 --> 00:13:22,679 copper closely in the day's head. So so your feeling is that when this 178 00:13:22,720 --> 00:13:28,799 thing breaks out, okay, and it will, that it's going to finally 179 00:13:28,879 --> 00:13:33,279 take the junior miners with it temporarily at least, yes, you know, 180 00:13:33,360 --> 00:13:37,240 and I and I say that temporarily just because of the natural ebb and flow. 181 00:13:37,799 --> 00:13:43,480 Right, you and I have discussed the past the clear correlation between not 182 00:13:43,879 --> 00:13:50,759 gold and the gold miners or the ets. But right, yeah, you 183 00:13:50,799 --> 00:13:52,799 get silver to run to thirty five or thirty six, the miner's gonna go 184 00:13:52,840 --> 00:14:00,600 with it. My guess is we will add then, is let's say that 185 00:14:00,639 --> 00:14:03,519 plays out of the course of summer, Powell starts cutting rains and get this 186 00:14:03,639 --> 00:14:05,879 surge. You know, we get into June July and this happens again. 187 00:14:07,279 --> 00:14:11,120 There have been a lot of peaks in the precious metals short term at least 188 00:14:11,200 --> 00:14:16,519 that have occurred in the summer months. Okay, this could be another one. 189 00:14:16,679 --> 00:14:20,360 It wouldn't surprise me, based on how these things have gone over the 190 00:14:20,519 --> 00:14:22,440 decade plus that I've been watching, if it didn't happen again, you know, 191 00:14:22,480 --> 00:14:26,360 you get this another big rush forward, and and that now this one 192 00:14:26,399 --> 00:14:30,840 finally Silver's into the thirties. Everybody's excited. Here we go, and there's 193 00:14:30,879 --> 00:14:35,080 gonna be people all over Twitter talking about silver gonna do. And it will. 194 00:14:35,480 --> 00:14:41,320 But my plan will be when that happens to maybe be a little little 195 00:14:41,360 --> 00:14:43,159 cautious at that point, because you know how it is. When everybody in 196 00:14:43,200 --> 00:14:48,600 this sector gets all excited, that usually is some kind of top yeah, 197 00:14:48,679 --> 00:14:52,600 and the sheet and they know how to time it exactly, you know, 198 00:14:52,720 --> 00:14:56,559 to bring that price down right, Yeah, and then everybody gets depressed, 199 00:14:58,279 --> 00:15:01,799 you know, and think, oh okay. And then again all that's because 200 00:15:01,799 --> 00:15:07,159 of the fundamentals, because of the exploding debt. You know, thirty whatever's 201 00:15:07,200 --> 00:15:11,399 thirty five trillion down right, two trillion dollars a year at extra debt, 202 00:15:11,440 --> 00:15:16,240 the interest on the national debt now a trillion dollars a year, exceeding even 203 00:15:16,240 --> 00:15:20,279 defense spending. All that, all of that stuff, yeah, in the 204 00:15:20,399 --> 00:15:22,799 end is what then makes it go even higher again. But there will probably 205 00:15:22,799 --> 00:15:26,120 be a point, if I'm right about another surge board in the next sixty 206 00:15:26,159 --> 00:15:31,559 days, when we'll probably get another pullback. The tree grow to the sky, 207 00:15:31,200 --> 00:15:35,799 right, right, not in this current not straight up markets, right. 208 00:15:35,279 --> 00:15:41,720 And you know, it's it's important to realize that in addition to all 209 00:15:41,799 --> 00:15:46,679 this, we've got a very weak banking sector. They say it's just it's 210 00:15:46,039 --> 00:15:52,159 limited just to the community and smaller banks. I don't believe it. And 211 00:15:52,600 --> 00:15:56,799 I think that if you would just what Powell said that when employment starts to 212 00:15:56,840 --> 00:16:00,600 get affected, if you just say, when mass bank failures are thretned, 213 00:16:00,919 --> 00:16:04,480 substitute that, then he's going to cut. He has to cut for that 214 00:16:04,639 --> 00:16:11,279 reason alone. Right. So you got employment and you've got a shaky bank 215 00:16:11,360 --> 00:16:15,080 sector. Yes, and that's a bad combination, especially in an election year, 216 00:16:15,200 --> 00:16:18,600 right, right. And the only way you can pay off or manage 217 00:16:18,600 --> 00:16:22,799 the debt is with the cheaper dollars to tomorrow. You paid today's and yesterday's 218 00:16:22,799 --> 00:16:27,000 debt with the cheaper dollars of tomorrow. And eventually, again this is not 219 00:16:27,279 --> 00:16:30,960 next week, okay or next month, but eventually they're going to go down 220 00:16:32,000 --> 00:16:34,759 the path of yelkurve control. Yeah, because they have to. Now. 221 00:16:34,919 --> 00:16:37,879 When gold took off again, we started this by like, wow, it 222 00:16:37,919 --> 00:16:41,639 took off before the FED even started cutting. On the first of March. 223 00:16:41,679 --> 00:16:47,039 It was Friday, the first of March, gold shot forty dollars higher, 224 00:16:48,279 --> 00:16:52,320 rose at all time and weekly high and daily high like twenty eighty nine something 225 00:16:52,399 --> 00:16:56,600 like that, and then it broke out one hundred dollars higher the next week. 226 00:16:56,720 --> 00:16:59,960 What out On the first of March, Fed goon Waller gave us speed 227 00:17:00,000 --> 00:17:03,480 each and he said, we want to do a couple of things going forwar, 228 00:17:03,480 --> 00:17:04,240 at least what I want to do, he said, I want to 229 00:17:04,319 --> 00:17:08,480 roll us out of some of the longer term stuff into the shorter term stuff. 230 00:17:10,119 --> 00:17:11,960 Yeah, I'm sure, uninvert deal curve. But then that will also 231 00:17:14,119 --> 00:17:18,839 give us room for the next round of QE to buy long term stuff. 232 00:17:19,400 --> 00:17:26,160 And everybody went, wait a second, the next round of QE what so 233 00:17:26,400 --> 00:17:29,880 what I limited it stopped? When did QE stop? Well, no, 234 00:17:30,000 --> 00:17:33,920 exactly, And so what's going to eventually come? I mean, this is 235 00:17:33,920 --> 00:17:37,039 a kid. It has to otherwise the whole thing will do this, the 236 00:17:37,079 --> 00:17:41,319 banking sector, everything is They're going to be printing money to fund all the 237 00:17:41,400 --> 00:17:47,160 ongoing deficits, then they're going to do yield curve control to cap. The 238 00:17:47,240 --> 00:17:51,240 Fed will just say we are we are buyers above a certain level. We 239 00:17:51,279 --> 00:17:55,599 will always be buyers above three percent or whatever they decide. It's going to 240 00:17:55,599 --> 00:17:57,960 be, just like the Bank of Japan has been. And when you get 241 00:17:57,960 --> 00:18:00,880 to that point, now, all of a sudden you don't have sharply negative 242 00:18:00,880 --> 00:18:06,240 real rates again because of inflation everything else. And that's when you know that's 243 00:18:06,279 --> 00:18:08,680 it. Yep, yeah, yeah, yeah, Well, hey, monetization 244 00:18:08,839 --> 00:18:12,519 of the debt. That's all that Quey is is just monetizing the debt. 245 00:18:12,920 --> 00:18:18,000 Right, But it's a fine line because when you do it too fast, 246 00:18:18,000 --> 00:18:25,039 then you undermine confidence and you jack up inflation. Like, hey, why 247 00:18:25,119 --> 00:18:33,160 are the headlines in the papers yesterday? PPI experts surprised that PPI came out 248 00:18:33,240 --> 00:18:37,359 higher than expected? Right? Who could be surprised by that? I'm only 249 00:18:37,440 --> 00:18:41,079 surprised it wasn't higher. Yeah, it's a number, and that's a cook 250 00:18:41,200 --> 00:18:47,039 number anyway, right, right, like every every other bit of government data 251 00:18:47,279 --> 00:18:52,319 election year, Garry, Yeah, exactly what until this last report a week 252 00:18:52,359 --> 00:18:56,559 ago, what every single headline job number had beaten expectations for thirteen out of 253 00:18:56,599 --> 00:19:00,519 fourteen months or whatever one was right. Yeah, yeah, I don't think 254 00:19:00,559 --> 00:19:03,759 you can believe any of that. Can you go back? And it's not 255 00:19:03,799 --> 00:19:07,920 just election here, how many times they have to manage whatever the basket of 256 00:19:07,920 --> 00:19:14,559 goods are in CPI anyway to create nice adjustments with stuff and it get it 257 00:19:14,599 --> 00:19:18,279 all, It all pieces together in the management of the debt because if you 258 00:19:18,400 --> 00:19:23,960 can convince the market that inflation is only two percent, then you will buy 259 00:19:25,160 --> 00:19:29,759 treasury bonds at three percent or four percent or whatever because you're getting a positive, 260 00:19:29,759 --> 00:19:33,160 real way to return. But if they were to actually report right what 261 00:19:33,200 --> 00:19:36,559 inflation really is, no one's gonna buy a treasury at three or four percent 262 00:19:36,599 --> 00:19:40,160 except the FED. And that's for that's where we're headed. And that's that's 263 00:19:40,200 --> 00:19:44,599 the name of the game. Hey, it's just the whole world is collapsing 264 00:19:44,640 --> 00:19:48,519 at once here. You know, it's every plate, it's everywhere, and 265 00:19:48,599 --> 00:19:52,559 this really exempt. So you know, when we go back to a gold 266 00:19:52,599 --> 00:19:56,720 standard, always said it will be because it's the only option right right, 267 00:19:56,960 --> 00:20:00,240 right, And historically that's how the pedge will swings. You know, you 268 00:20:00,720 --> 00:20:06,160 begin your your currency begins backed by goals that people have confidence to use it 269 00:20:06,599 --> 00:20:10,160 right, great for goods and services, and you hold it because there's got 270 00:20:10,200 --> 00:20:14,640 some value that anchor cycle, right, And then the politicians get a hold 271 00:20:14,640 --> 00:20:18,039 of it and they want their power, so then they want a more currency 272 00:20:18,079 --> 00:20:21,599 for their wars and their social programs and everything else. Eventually you go off 273 00:20:21,599 --> 00:20:23,480 the golds Diader like Nixon did, and then you swing all the way over 274 00:20:23,519 --> 00:20:27,440 here to where the base things basically worthless, and then nobody wants it. 275 00:20:27,759 --> 00:20:32,119 And then all of a sudden you got to get some confidence again, and 276 00:20:32,160 --> 00:20:34,880 so it swings back over here and you back it again. And that's that's 277 00:20:34,880 --> 00:20:40,440 the direction we're headed. Hey, And wars and bubbles that go together, 278 00:20:41,039 --> 00:20:45,000 you know. The whole thing. The South Sea bubble was about paying off 279 00:20:45,119 --> 00:20:48,920 the England's war debt. It was a scam to pay it off, and 280 00:20:48,960 --> 00:20:55,279 then it turned into a bubble, and then the Louisiana Land purchase all of 281 00:20:55,319 --> 00:21:00,839 that. Some bubbles and wars and inflation all go together. But okay, 282 00:21:00,440 --> 00:21:06,920 yeah, I just find it really interesting that no matter what happens, the 283 00:21:06,960 --> 00:21:11,839 cycles just keep repeating themselves. We never get any smarter, you know, 284 00:21:12,039 --> 00:21:17,240 don't we just don't? All right? Then, well, hey, that 285 00:21:17,400 --> 00:21:21,440 is it for today. Make sure you go over to greg site TF metals 286 00:21:21,519 --> 00:21:27,119 Report dot com and there it is in the in the screen and show. 287 00:21:27,240 --> 00:21:32,839 There's a link in the show notes on Financial Survival Network dot com. How 288 00:21:32,920 --> 00:21:37,039 much? How much are you getting these days? Because you know Starbucks h 289 00:21:37,880 --> 00:21:42,640 the price of Starbucks has gone up. I started a site called Inflation Cafe 290 00:21:42,799 --> 00:21:49,240 Inflation dot Cafe where we outline, we highlight all of these stories about inflation. 291 00:21:49,799 --> 00:21:56,480 And it got inspired because in Starbucks, my latte has doubled in the 292 00:21:56,519 --> 00:22:02,000 past four years. It's ridiculous. And and they've increased the amount of foam. 293 00:22:02,400 --> 00:22:07,240 And then their loyalty program. You know, it's loyalty from the customers. 294 00:22:07,640 --> 00:22:11,079 Whenever you see these loyalty programs, it's disloyalty from the company. They 295 00:22:11,160 --> 00:22:14,960 used to give you one free drink a month. They got rid of that. 296 00:22:15,319 --> 00:22:17,880 They used to give me a free drink on my birthday, they got 297 00:22:18,000 --> 00:22:21,599 rid of that. They cut back the points. I mean, hey, 298 00:22:21,920 --> 00:22:27,240 complete disloyalty. So I thought they were entitled to have a website named after 299 00:22:27,279 --> 00:22:33,519 them, and it's the Inflation dot Cafe where dollars go to die. I 300 00:22:33,599 --> 00:22:37,279 get I like it. Well, I'm guilty a little bit of that out 301 00:22:37,279 --> 00:22:41,759 of my site. I started all this back in twenty ten. Oh my 302 00:22:41,839 --> 00:22:45,519 god. I quickly figured out this ad revenue thing and being beholded to Google. 303 00:22:45,839 --> 00:22:51,440 Yeah, not a good toa then ain't gonna fly. So in twenty 304 00:22:51,559 --> 00:22:55,240 thirteen, and to keep out the trolls, we started charging everybody ten bucks 305 00:22:55,319 --> 00:23:00,920 a month. It's currently fifteen, so it's up fifty percent. But over 306 00:23:00,920 --> 00:23:04,640 the last eleven years, that's not bad. That's pretty good. I think 307 00:23:04,640 --> 00:23:10,039 you have aren't even to what's happened at Starbucks, right, And if I 308 00:23:10,079 --> 00:23:12,759 could look, I just tell people everybody knows stuff's not free, right, 309 00:23:12,960 --> 00:23:17,799 Fifteen dollars about what you spend maybe for a magazine subscription, you know, 310 00:23:17,960 --> 00:23:22,720 or to the website of your favorite sports team or whatever. But I say 311 00:23:22,759 --> 00:23:25,960 this all the time. My site's different. Man, we keep track of 312 00:23:26,000 --> 00:23:29,960 everything. But it's not just me. It's everybody on the site that's keeping 313 00:23:30,000 --> 00:23:33,960 track of everything too. It's a time like this, man, you need 314 00:23:33,039 --> 00:23:37,920 as much community. I had boots on the ground as you can. And 315 00:23:38,039 --> 00:23:41,640 you can't count on your neighbor or the people you know, because they're all 316 00:23:41,720 --> 00:23:44,000 running out of their head in the sand trying to keep track of their old 317 00:23:44,000 --> 00:23:45,480 lives. But you can come to t F Metals Report. You can find 318 00:23:45,519 --> 00:23:49,880 a whole community of people looking out for each other, so and so for 319 00:23:51,039 --> 00:23:53,119 fifteen bucks a month. That's a pretty good deal, absolutely all right. 320 00:23:53,240 --> 00:23:56,079 Links in the show notes. Make sure you sign up for our free newsletter, 321 00:23:56,440 --> 00:24:00,160 Craig's got one as well, Financial Survival at work dot com. Craig, 322 00:24:00,200 --> 00:24:03,640 We'll talk to you in a month or two, or when I promise 323 00:24:03,680 --> 00:24:07,640 you that some goal breaks twenty five hundred will get you on that day. 324 00:24:07,880 --> 00:24:11,200 Okay here alright, he sounds like a deal. Thanks. That always a 325 00:24:11,200 --> 00:24:17,039 pleasure. Thanks for listening to carry Letz's Financial Survival Network, your solution to 326 00:24:17,119 --> 00:24:22,640 today's trying times. For the latest, go to Financial Survivalnetwork dot com. 327 00:24:22,640 --> 00:24:26,480 Financial Survival Network now more than ever.