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And I'm impressed that it's starting to
actually have beneficial impacts. So you know

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he's got it. There was it
three more or three and a half more

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years. He's got a long way
to go, and he's already making a

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difference. In my view, that
makes Argentina investible. Since it seems like

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he doesn't have a bullet on his
name. There's time to make money on

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Argentina place now. So you are
listening to Carrie Lutz's Financial Survival Network where

7
00:00:23,120 --> 00:00:28,640
you get valuable information you just can't
find anywhere else to thrive in today's trying

8
00:00:28,679 --> 00:00:34,240
times. You need the Financial Survival
Network now more than ever. Go to

9
00:00:34,320 --> 00:00:41,079
Financial Survivalnetwork dot com and get your
free newsletter and gift. Financial Survival Network

10
00:00:41,560 --> 00:00:50,799
now more than ever. Welcome you
are listening to watching the Financial Survival Network.

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00:00:51,000 --> 00:00:56,280
I'm your host, Carrie Lutz with
us now is Lobo Tigra Lobo old

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friend. We've been seeing each other
conferences and such for many years, and

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hey, Loba, it's great to
have you back on. We finally got

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something to celebrate down south of the
border in Argentina. I mean, I

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thought you were gonna say silver breaking
north of thirty well that too, I

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mean, but that was a foregone
conclusion. It was always never a question

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of if, just a question of
when. Hopefully, you know, it'll

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hit fifty before we depart the planet. I have a feeling it's going to

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hit fifty and keep going. You
listen at Eric Sprat, he says three

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hundred dollars silver. I find that
hard to believe, but then again,

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I never doubt anything that Eric Sprat
says. Well, if you inflation adjust

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the nineteen eighty peak, it is
triple digits. It's kind of you don't

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even want to say the numbers because
it's embarrassing. It sounds like you're wearing

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a tinfoil hat or something. But
that's true. I few inflation adjust the

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previous peak. You know, it's
kind of amazing, amazing times. But

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you know, let's go south of
the border. I mean, go the

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the amazing things going on in Argentina. Sorry, it's not Mexico. Mexico's

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going the wrong direction. It really
looks like not only a you know,

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a populist, pandering politician, but
an environmentalist is about to take over there.

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And by the way, this has
investment consequences. I mean, they're

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talking about banning open pit mining,
and people are saying, oh, well,

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underground minds are safe. No,
if you've got a government stupid enough

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to ban open pit mining, it
is clearly hostile to mining all mining.

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Yeah, and so don't hit yourselves. Mexico's definitely going the wrong direction by

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or beware. But we wanted to
talk something good news, right, And

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yes, the Argentina thing, I've
never personally met Milay. I have to

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say, you know, it raised
my hackles when he hugged Trump, but

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you know what, he raised hackles
with Trump as well. He was clearly

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not a huger. I'm not a
sauchy feeling kind of guy. Yeah.

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Yeah, but we'll just if nothing
else. The idea is the man espouses

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now from the office of president of
country, Like, just how many people

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have heard of Hayek and miss now
who'd hadn't before and unless they watch that

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that boxing Max. But that's a
whole other conversation. Uh, it's just

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that that bully pulpit alone is a
good thing for the world to have this

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voice. But he's not just walking
the talk. He's walking it and slashing

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government spending left and right. You
know, there's there's a lot. He

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can't do that he wants to do
because he doesn't have a congressional majority.

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He's just the executive. But the
you know, sort of backhanded good news

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here is that in Latin America,
the executives have a lot of power,

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so he has been able to unilaterally
just slash spending left and right and close

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things down as as everybody's probably known, the cauctin tyne peso. Ironically,

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it's become the best performing currency reson
because he's he's slashed infleshing from three hundred

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percent to like single or low double
digits. It's just it's it's amazing that

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he even got a chance. But
even more amazing is how he's actually doing

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some of these things. And I'm
this has besides ideological importance, but let

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me go there first. I think
this is tremendous. This is like the

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it can become the shining city on
the hill, an example to the world

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if he actually fixes Argentina. They're
not out of the woods yet. Like

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he's slashing stuff left and right,
he's still administering the harsh medicine. But

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if that medicine actually heals the patient, like the rest of Latin America has

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to sit up and take notice,
and really the rest of the world.

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You know, his Davos talk,
it's that, you know, he actually

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delivers on the values from that,
I think that's fantastic. Any intellectually honest

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person has to sit back and say, well, you know what, maybe

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there's actually something too, you know, limited government and free enterprise and all

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that stuff. I see, I
jump in ahead. You know, it's

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what we've always theorized, but never
we're in a position to actually demonstrate.

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I mean, really, you have
to go back to like Hong Kong,

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post world, medieval Iceland, Singapore, Iceland, but Iceland's lake. Nobody

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takes Iceland seriously. Argentina you need
to take seriously because every ten years or

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less they have a currency collapse,
and there was so much turmoil, and

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it was just a classic case of
a country being totally mismanaged. Not that

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there's any shortage of that, Lobo, right, but you know you look

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at that and Heeds just say,
wow, these guys, Yeah, that's

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absolutely God. So if he can
turn this around, you know, you

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talk about things like the shot heard
around the world in seventeen seventy six,

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this could literally be something like that
the chainsaw herd around the world. You

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know what an amazing thing that would
be. So investment implications. I think

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Argentina is becoming more investable, like
I I have been out, like I've

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sold all my Argentina plays years ago. The Kirchners were an absolute disaster,

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and then I forgot the guy.
You know, there was a brief interlude.

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The previous president, not that,
not the one before me, the

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one he was tried to do some
market reforms, but it was it was

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half measures, and he wasn't able
to really do anything. He didn't have

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the guts Mila has, and he
failed, and so the country veered farther

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left got worse. So now,
you know, honestly, I I it

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sounds like I'm just trying to do
clickbait headlines or something like that, but

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I sincerely thought once he won that
there was a very high chance that he

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would get shot like his the medicals
removed on this started out there would just

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be intolerable. Yeah, surgically,
well, I'm I'm impressed that he's doing

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it. I'm impressed that he's still
alive, and I'm impressed that it's starting

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to actually have beneficial impacts. So
you know, he's got he's got was

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it three more three and a half
more years, He's got a long way

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to go, and he's already making
a difference. In my view, that

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makes Argentina investible. Since it seems
like he doesn't have a bullet on his

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name. There's time to make money
on Argentina place now, So you know,

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I'm looking actively in that direction.
Just besides the cutting of the government,

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he cut the regulations to like next
to nothing. So we're going to

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find out about the fertile soil for
capitalism, for free markets first and and

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my guess is it's good. He's
going to replicate hog Kog. Now,

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I don't know if the people are
so beat down that they're going to be

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able to take advantage of what probably
is a once in a life opportunity that's

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been given to them. I don't
know about that. That's kind of what

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concerns me because you kind of had
a similar thing happen in Russia after the

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fall of communism and in Germany.
East Germany is still lagging so quandered opportunities.

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Yeah, yeah, soquestion is they
weren't communists, but they were certainly

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socialists. Have they been so you
know, so debased in terms of their

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entrepreneurial outlook that they won't. Nobody
knows for sure. We'll have to see,

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but you know, I'm very encouraged
that, like I say, there's

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still more pain to go. The
harsh medicine has not been all administered.

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It's not all done yet. But
he's done a lot, and he's hurt

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a lot. He's a lot of
former government employees out there marching in the

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streets. But his popularity rating is
still up. So I think there's hope.

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I don't. I don't count it
as a sure thing, but I'm

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willing to hope now, which I
wasn't before. Hey never estimate the animosity

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of the population towards their petty apparachics, and that that they're happy to see

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them out of having any power over
them. Something about South America when the

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when those tyrants get into power,
they're worse probably than even the ones in

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the United States. Out of the
frying pan into the fire. It's a

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sad story, yeah, really sad. But there is definitely hope now.

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And inflation seems to capture the attention
of a population more than any other injustice

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that is wrought upon them because there
when you have inflation, and it is

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an injustice. It's really self taxation, all the things we talk about.

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But you know, in the United
States you see it happening as well.

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Like you and I, we've lived
through inflationary times before, so it's like

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just something you get through. But
to these other people with the entitlement mentality,

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they've been raised with the younger folk, and now they see the value

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of their dollar dissipating by the day. This is leading to a backlash in

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the United States that I didn't believe
was going to happen. I thought we

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were just all frogs boiling and off
till we were extinct. But evidently they

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proved us wrong, didn't they.
Well, you know, I've tried that,

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and the frog won't actually stay in
the water. At some point he

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gets uncomfortable and he hops out,
and so turned up you turned up the

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heat too quickly. When have you
ever seen the frog sleeping anyway? All

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right, So, but taking the
metaphor to the real world, you know,

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you turn up the heat and at
some point it's actually uncomfortable, and

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so people are going to the store. What will be really interesting Carrie,

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as you say, the younger generations, they just don't have any experience with

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this. They've never really know.
They weren't there in the seventies literally,

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so they don't know how bad it
can be. Let alone other countries where

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they chopped zeros off their currency unit
periodically. They just don't understand how bad

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this can be. They're starting to
get it, and you know, you

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have sticker shock when you go into
the supermarket. I was just reading today

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that I don't know when this will
be posted, but as you and I

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00:11:07,000 --> 00:11:09,960
are recording, there was news that
Target and Aldi, which is already a

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low cost food store, are cutting
prices on certain items, on basic items

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because people are racking up credit card
debt to buy groceries. Grocery debt.

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00:11:22,159 --> 00:11:24,440
Okay, it's one thing to use
a credit card at a supermarket because you

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want to get airline miles or whatever. It's another thing to rack up debt

150
00:11:30,320 --> 00:11:33,279
just to feed your family. Like
this is. This can't end well.

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And you know you've got Team Biden
out there saying, oh, We've got

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the greatest economy in the world.
You know what's wrong with people? Why

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don't they Why doesn't Joe get any
credit for this, but just go to

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the store. And it's not anecdotal
when large chains like that are responding to

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00:11:52,559 --> 00:11:56,440
Really, what is it a measure
of desperation or an act of desperation to

156
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be charging up your cards to the
hill to buy groceries. That's that's good.

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00:12:03,320 --> 00:12:07,279
It's very unsustainable, and it's happening
right now while we have the greatest

158
00:12:07,320 --> 00:12:11,080
economy in the world. So how
could that. I think inflation is just

159
00:12:11,120 --> 00:12:15,679
one of those things that it it. You know, many other things are

160
00:12:15,759 --> 00:12:20,759
theoretical or philosophical, or maybe even
religious, but this reaches right into your

161
00:12:20,759 --> 00:12:28,200
wallet or purse and it steals from
and it pisses people off. So maybe

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00:12:28,679 --> 00:12:31,480
good call. Maybe we'll have a
learning opportunity here. I remember, you

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00:12:31,480 --> 00:12:35,639
know, back in the seventies there
was a McDonald's commercial and this little kid

164
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goes, daddy, what's inflation?
And I cannot find this, by the

165
00:12:39,360 --> 00:12:43,399
way, anywhere on the internet.
It's been scrubbed. And he goes,

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son, that's when the price of
everything goes up and your father's pay stays

167
00:12:48,159 --> 00:12:52,519
the same. It's like the best
the definition of inflation ever from a McDonald's

168
00:12:52,559 --> 00:12:56,720
commercial. No less right, Yeah, well, we had a cartoon I

169
00:12:56,759 --> 00:13:01,679
posted on my Twitter feed I think
last week or maybe two weeks ago now

170
00:13:01,960 --> 00:13:05,440
of just like that. You know, it's like nineteen thirties cartoon. And

171
00:13:05,279 --> 00:13:09,519
this this monopoly board type guy with
you know, top hat, lots of

172
00:13:09,519 --> 00:13:13,120
wheelbarrow full of money goes in the
story and he comes out with a barrels

173
00:13:13,200 --> 00:13:18,240
on straps because the guy inside the
store is literally jacking up the prices like

174
00:13:18,279 --> 00:13:22,440
he has jacks it used to lift
an old car, and he's jacking up

175
00:13:22,480 --> 00:13:28,799
the prices. But oh yes,
so this will be an interesting learning experience

176
00:13:28,960 --> 00:13:33,200
and the backlash. But what strikes
me is really interesting, Carrie. And

177
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I'm a gold bug and I you
know, I like fart assets old in

178
00:13:37,240 --> 00:13:41,720
my hand. But the younger generations
have already had a lesson about fiat currencies

179
00:13:41,759 --> 00:13:46,120
from the crypto crowd. Now you
add inflation to that, it goes from

180
00:13:46,159 --> 00:13:50,120
theoretical like fiat can be printed,
you know, governments can print it to

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00:13:50,600 --> 00:13:54,080
an experiential thing and to a point
where it actually creates discomfort in your life.

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This could be a watershed moment that
actually changes is not just economic behavior,

183
00:14:01,799 --> 00:14:07,799
but voting behavior for younger generations.
You know, maybe. And I'm

184
00:14:07,840 --> 00:14:09,759
not a Republican. I'm a libertarian, so I'm not trying to take sides

185
00:14:09,799 --> 00:14:15,559
between the GOP and the Dems.
But I can imagine people, young people

186
00:14:15,639 --> 00:14:18,039
who have thought, oh, the
Dems are the nice guys, and suddenly

187
00:14:18,480 --> 00:14:24,639
having this understanding that they're being stolen
from and say, you know, that's

188
00:14:24,679 --> 00:14:28,360
not nice. Like maybe there's something
too this free enterprise approach and you know,

189
00:14:28,480 --> 00:14:33,200
letting people keep the money they earn
stuff. You know, maybe we'll

190
00:14:33,240 --> 00:14:35,679
have a little bit of a of
an awakening there. I'm an optimist.

191
00:14:35,919 --> 00:14:39,240
I'm not predicting this. I'm just
saying maybe there's some hope there too.

192
00:14:39,960 --> 00:14:43,919
Maybe Hey, I hope you're right, of course, and we all do.

193
00:14:45,080 --> 00:14:50,000
But you know, hey, time
time will tell for sure. So

194
00:14:50,159 --> 00:14:56,919
gold and silver, how high can
they go here? Well, you know

195
00:14:56,000 --> 00:15:01,240
that I don't like to make price
predictions, but we aren't. And I'm

196
00:15:01,279 --> 00:15:05,600
pretty sure maybe two interviews ago we
talked about this looking forward to twenty twenty

197
00:15:05,600 --> 00:15:09,559
four, and I said gold could
easily go up ten twenty percent without any

198
00:15:09,600 --> 00:15:15,240
fireworks or anything strange happening, which
from about two thousand would imply twenty four

199
00:15:15,320 --> 00:15:18,000
hundred. Well, here we are
a couple months in, we're already at

200
00:15:18,000 --> 00:15:20,799
twenty four hundred, and none of
the things that I thought would push gold

201
00:15:20,879 --> 00:15:26,080
higher, recession money, helicopters,
that sort of thing, none of this

202
00:15:26,919 --> 00:15:30,559
has really happened yet. So there's
a couple of things you could say,

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well, one night was wrong,
okay, two. But if that outbook

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is still right, if your audience
agrees with me that the United States is

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not going to escape the consequences of
these rapid rating increases and the money printing

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and all, you know, all
this stuff, then that upside is still

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ahead of us. So it's if
we're looking at ten or twenty percent higher,

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but from twenty four instead of two
thousand, you know, do the

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math, we're closer to three than
two. And it's pretty exciting. No,

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I don't even want to put the
number out there because that people are

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saying, oh, no, but
you said it's going to three thousand,

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it's not, or whatever. All
I'm saying is that an Austrian or fundamental

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view of the economic scenario is very
bullish for gold. The new buying from

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central banks and other deep pocketed institutions. I think it's not the sort of

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thing that just goes away. You
know, the central banks of the global

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South don't just suddenly decide that,
hey, we're best friends with the Fed.

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Now, that's just that buying doesn't
go away. You know. The

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people that are the deep pockets that
are hedging with gold now not just because

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00:16:36,879 --> 00:16:40,159
they see the inflationary writing on the
wall. I think the two hot wars

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that we have, either of which
could literally turn into wars rate are the

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00:16:42,919 --> 00:16:47,320
kind of thing that makee people,
you know, not just want to hedge

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their portfolios, but maybe hedge it
with something physical that works when the Internet

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doesn't. Right, So, you
know, I just don't see that going

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away. I don't see that buying
drying up and blowing away in the dawn

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00:16:59,320 --> 00:17:02,480
breeze. It could, it'll go, it'll come. You know, nothing

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goes up forever in a straight line. But the reasons for that buying,

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I just don't see it going away. And then on top of that,

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we still have the money helicopters in
the economic yeah push you know, gold

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always does well in a recession,
and silver is happily tracking gold again.

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So yeah, I don't want to
sound like Kramer was one of those big

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00:17:22,079 --> 00:17:26,559
red bye bye by buttons, and
there'll be correction before it goes up again.

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Sure, you know it's it's gone
up pretty fast already. Some correction

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and consolidation would actually be pretty normal
here. But by the end of this

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year, I think we're looking at
a much higher gold dollar exchange rate.

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I do see gold as money,
so I see it as a FOR'X question,

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not a commodities price. And I
do think silver will track gold.

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It's at least the data right now
is telling us that silver has stopped tracking

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copper more than gold recently and is
back tracking gold more tightly again. And

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that makes me very optimistic for both
this year. And copper has been doing

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bad either we had you no,
no, don't know, five dollars copper,

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Sure, no, no copper.
And then again, to be perfectly

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frank, I completely missed this run
up to record prices in copper. I've

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been concerned about the recession that has
kept me from allocating money in that space.

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I didn't make money on this one. Sorry, but you know what,

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00:18:18,559 --> 00:18:22,119
I'm done fine with with with gold
and silver. Can't kiss all the

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00:18:22,119 --> 00:18:26,640
girls. I'm okay with that.
And if I had said yeah, by

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00:18:26,720 --> 00:18:30,799
all the all the medals, and
then we got that recession sooner than expected,

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they would be negative. So I
don't ret the call. Given the

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same information, I would make the
same call again in the you know,

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00:18:38,920 --> 00:18:42,079
the I guess the so wide or
the takeaway from that is, if you

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00:18:42,279 --> 00:18:48,160
think I'm right about undeniable recession in
the United States this year as those long

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00:18:48,200 --> 00:18:52,000
and variable lags finally kick in,
then you really want to think about how

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00:18:52,079 --> 00:18:56,519
much copper or any industrial mineral you
are exposed to in your investment portfolio.

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00:18:56,799 --> 00:19:02,400
Hey, and we got election instability. Who knows what the US is going

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00:19:02,440 --> 00:19:07,759
to look like after the election.
Hey, we got crazy civil unrest all

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00:19:07,839 --> 00:19:14,920
over the place. All these things
mitigate or militate for a higher gold and

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00:19:15,000 --> 00:19:18,079
silver price. Yeah, you know
what a what a world where it's not

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00:19:18,160 --> 00:19:22,200
just libertarian tinfoil hat types like us. But it's Ray Dalio saying there's a

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00:19:22,319 --> 00:19:26,960
forty percent chance of civil war in
the United States. Like, wow,

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00:19:26,400 --> 00:19:30,920
it's it's not what he said,
it's who said it. Yeah, that

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00:19:30,119 --> 00:19:36,480
is really a sign of the times. Yep, Hey, agreed, Well,

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00:19:36,920 --> 00:19:41,160
interesting things. Talk about Libo tell
us where we find you, how

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00:19:41,200 --> 00:19:45,119
do we subscribe? Well, thank
you very much. It's independent Speculator dot

264
00:19:45,119 --> 00:19:48,440
com. I'm traveling, so I
don't have the better over my head.

265
00:19:48,680 --> 00:19:52,920
Wake sales pitches really easy. Sign
up for my free letter. See if

266
00:19:52,920 --> 00:19:56,359
you like the way I think and
I work. If you do, I

267
00:19:56,400 --> 00:20:00,680
can't promise you'll agree with everything I
say, but I can that I will

268
00:20:00,680 --> 00:20:03,880
not spam you with a flood of
daily advertisements. I hate that crap.

269
00:20:03,480 --> 00:20:07,160
Same here, all right. If
you've got a question for Lobo myself,

270
00:20:07,400 --> 00:20:12,039
shoot me an email kl at Carrie
LUTs dot com and hey, you'll find

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00:20:12,079 --> 00:20:17,880
a link to his site in the
show notes to this interview on Financial Survival

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00:20:17,920 --> 00:20:21,079
Network dot com. While you're there, sign up for your free newsletter.

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00:20:21,519 --> 00:20:25,319
Lobo been a pleasure, and I'm
sure we'll have more to talk about next

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00:20:25,319 --> 00:20:29,359
time. Interesting times, I'm sure
we will. Thanks for listening to Carrie

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00:20:29,440 --> 00:20:34,640
Letz's Financial Survival Network, your solution
to today's trying times. For the latest,

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00:20:34,720 --> 00:20:41,400
go to Financial Survivalnetwork dot com.
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