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It's like you could say the same
thing about gold, right. I mean,

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what do the central banks see that
your average retail investor that buys ETFs

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doesn't see, Because that's what we're
seeing, right, We're seeing central banks

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continue to buy gold and keeping the
gold price above two thousand dollars, while

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your generalist investor continues to buy wildly
overvalued stocks. You're listening to Carrie Leutz's

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00:00:23,440 --> 00:00:28,960
Financial Survival Network, where you get
valuable information you just can't find anywhere else

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00:00:29,519 --> 00:00:35,320
to thrive in today's trying times.
You need the Financial Survival Network now more

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00:00:35,359 --> 00:00:40,520
than ever. Go to Financial Survivalnetwork
dot com and get your free newsletter and

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00:00:40,600 --> 00:00:50,320
gift. Financial Survival Network now more
than ever, and welcome. You are

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00:00:50,439 --> 00:00:54,920
listening to watching the Financial Survival Network. I'm your host, Carrie Lutz.

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They were the third week of January
here and well, gold staying up over

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two thousand, so you got to
give it some credit there, But silver

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not so good. The mining share
is definitely not so good. But let's

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talk with the head of a junior
miner junkie, David Earthley. David,

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it's great to have you back on
so hey insane times we're living through here.

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Huh yes, hey, great,
great to see kerin. Thank thanks

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for having me on again. Yeah, really really crazy times. The stock

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market keeps going higher, the silver
price and the gold miners continue to lead

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the gold price lower. After the
gold price made what a monthly quarterly you're

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nearly all time high, but that
elusive twenty level, which is where we

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need that that monthly close above before
we can really get excited as yet to

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take place. While the stock market
continues to go higher and zaps any enthusiasm

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whatsoever out of even if you're considering
getting into minors, which is which is

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really a good thing if you're playing
the long you know, the long game

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here and accumulating shares because you know
you're able to take your time and focus

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and and focus on the best of
the best and you don't have to worry

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about the rest and continue to accumulate
and wait for that, uh, that's

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flip of the switch which we know
is coming. You know, the FED

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basically has caved on inflation, right, I mean towards the end of the

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year last year, their last you
know, the last FED meeting in the

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middle of December, they basically caved. They issued a roadmap for for rate

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cuts while inflation is still twice as
high as their two percent target. Yeah,

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and then they come out and and
and and talk talk and say it's

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it's and continue to say that the
rates are going to stay higher for longer.

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But they know they can't stay higher
for longer because they know that they

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cannot perform with under a higher under
a long term high interest rate environment.

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And that's why they issued that roadmap. And you know they're they're basically going

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to keep doing what they're doing until
they break something, and then that's their

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modus operandi, right, I mean, the Fed is reactive, not proactive.

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Right. Sure, they've been proactive
and saying that they're going to cut

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rates, but they're always reactive when
they finally do. Yeah. Hey,

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and it's to insult to injury it
because site got hacked and they got ransomwared,

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I guess. And now I look
at the site, I don't know

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where anything is anymore. Even though
it was not the most attractive website,

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at least you knew where to look. Now it's like nothing is the same

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anymore. I know, it's crazy. And you know all my articles,

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you know, I've been I've been
writing a weekly article for kidco for you

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know, since twenty sixteen, and
they're all in their database, and now

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all the links to all those articles
are different. So I have to go

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on my website and basically fight all
the links that the correct links now that

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they're that they're in the process of
fixing this problem, and put them back

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on my website us that that's a
job for another day. But I digress

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here. You know, it's it's
really interesting the way the gold price continues

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to hold up above two thousand dollars
an ounce. If you look it looks

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very bullish. And then you look
at the charts of the gold stocks and

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the gold sector, and you have
to turn it upside turn it upside down

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to for it to look the same, which you know, it creates the

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opportunity, which you know, half
of me is very you know, very

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happy that you know, I've got
a lot of subscribers recently that feel the

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same way I do, and they're
accumulating stock at these really really depressed,

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ridiculously low prices. And but the
other half of me, if is you

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know, frustrated because you know,
we know this is that this is going

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to happen we just don't know when
and going to happen, meaning the stock

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market needs to roll over for for
investors to to basically start looking for hedges

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again and get back into the gold
space because you look at the volumes of

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especially these juniors, they're basically at
I don't give a ship level, right,

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I mean the jors, they're like
almost completely a liquid. Yes,

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there's a lot of them that are
yes, and you know, let's face

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it, you know most of them
need to go away, and there's just

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too many of them. There's only
so many checks that these that these uh,

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that these banks can write for these
projects. You know, a lot

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of these companies are fooling themselves and
they're basically lifestyle companies that that that they

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that they're fooling themselves into thinking that
a major is going to come along and

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buy them. Well, you're pulling
their investors, uh, but exactly exactly.

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I mean, let's face it,
like eighty eighty five percent of our

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lifestyle company and it's somebody. Yeah, it's up to somebody like me to

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pick out the best of the best
and get into the best of the best

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at prices like this, because let's
face it, you know, I mean,

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the money you're going to make in
this sector, you know, in

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the future, is when you're buying
in times like this. I mean,

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you don't buy these things when they're
rising. You buy them when they're sinking

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and it's up to be And you
know, and you're savvy investor, is

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that that knows this sector to buy
the right companies and hold the right companies

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for when that switch does get flipped, which inevitably will. Have you ever

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seen sentiment as negative and bearish and
really just downright depressed as it is now?

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No in relation to a strong goal
price, I haven't. No,

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I mean I've seen I've seen sentiment
this bad. Yes, in late twenty

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fifteen, absolutely, sentiment was actually
worse than this. And at the same

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time, projects weren't getting financed.
You know, the good projejects are getting

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financed now. But it's but it's
you know, it's it's the early stage

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exploration companies, you know, that
have marginal projects that if they do finally

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get a finance, finally, you
know, find somebody to write them a

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check. It's basically just money to
keep the lights on because you need,

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you know, you need at least
a million bucks in the bank to keep

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the lights on for a year.
Sure. So yeah, so so it

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is better in that respect as far
as companies are getting financed. But in

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late twenty fifteen, they weren't.
I mean, I mean that this sector

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had gone down eighty five percent into
the end of twenty fifteen from from from

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its peak in twenty eleven. So
I mean that took that that basically took

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all the generalists investors out of the
sector, and it took a lot of

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of resource speculators out of the sector. But it's it's it's funny that in

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twenty fifteen also that it's kind of
similar to what's happening right now because in

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the end into the end of twenty
fifteen, you had the mining sector finally

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start to carve out a bottom after
that just brutal for three point five year

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bear market, right, it started
to carve out that bottom, and a

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lot of you know, contrarian speculators, which you have to be one to

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make money in the sector. Sure, we're accumulating, you know, the

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quality juniors heading into the end of
twenty fifteen, and of course I was

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one of them, and we just
said to ourselves, hey, this is

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just an incredible opportunity. Everybody thinks
the gold price is going to go below

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a thousand dollars, just like they
thought gold was going to go above two

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thousand dollars in twenty eleven. Well, it never happened in twenty eleven,

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and it never happened in twenty fifteen. The gold price never got below one

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thousand dollars. True, but the
share but the market basically had one more

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trick up at sleep after the calendar
turned to twenty sixteen. After that,

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after that base was being created.
After six months, I think right like

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the middle of January, there was
a day where the where that bottom fell

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out and all these stops were hit
of these of these speculators accumulating these juniors.

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They thought, okay, here we
go again. We got a shoot,

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we got a short dis sector and
basically we got stopped out of everything

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and wait for the bottom to come. Well, that very same day was

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an inter day reversal. After stopping
all these all these investors out, and

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it just turned her around and never
looked back. Six months, it went

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up like over two hundred I remember, yeah, me too, like it

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was yesterday. It was amazing.
My account, you know, was was

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you know, which which I started
in UH in late twenty fifteen with about

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its close to half a million bucks. It was down to like three hundred

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and twenty five three hundred and forty
thousand dollars a beginning of January, just

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like, oh my god, this
is ridiculous, and it just gotta wait

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because I know, I bought the
Riot companies and all of a sudden,

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by the by by the middle of
twenty sixteen, it was over a million

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bucks, so, you know,
and I was able to bank you know,

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ninety nine percent capital gains in twenty
sixteen after the year started off so

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dreadfully. So that's you know,
that's kind of reminiscent. I think of

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what's happening right now because you know, into the end of twenty twenty three,

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the gold stocks were creating a six
month base, and now to begin

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twenty twenty four, they're shitting the
bed again. It looks like they're at

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least going to test their October lows, and we could have a sharp move

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or below those October lows. But
that will be an incredible buying opportunity if

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it happens. You think they'll test
I think it's going to test the October

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low, and we're only six percent
away from right now, and there's there's

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gaps in the GDX and gd XJ
where they've sold down to the top of

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those daily gaps right now. So
I expect those gaps to fill here this

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probably this week, heading into the
you know, the FED meeting at the

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end of the month. But because
if you take a look at what's happening

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with the miners and silver, they've
been leading, they've been showing relative weakness

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ever since the end of January.
So they're basically screaming, hey, this

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correction is the twenty twenty four is
going to start off with a correction,

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And that's what's happened. All right, Well, people, I talk to

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the people and the good companies that
actually have real projects there, Like you

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say, they are able to raise
money, they have majors, and they

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have institutions sinking money into them.
And I ask kind of every mining company

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executive I speak with, I say, what do the institutions and the majors

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see that the individual and the retail
market are missing. It's like you could

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say the same thing about gold,
right, I mean, what do the

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central banks see that your average retail
investor that buys ETFs doesn't see because that's

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what we're seeing, right, We're
seeing central banks continue to buy gold and

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keeping the gold price above two thousand
dollars, while your generalist and investor continues

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to buy wildly overvalued stocks and as
opposed to starting to hedge because of what's

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coming. I mean, if you
take a look at what happened, what's

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kind of similarly shaping out right now
is we got it. We got a

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huge bubble, right, I mean
everybody knows it. It's just the timing

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of what it's going to pope.
People continue to ride it until until it

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pops. Right. So we had
the same thing happened at the turn of

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the century, right, we had
the dot com bubble into two thousand and

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the bubble started to burst and the
Fed, you know, the rates were

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high the Fed. Everybody knew the
Fed was going to lower rates, they

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just didn't know when. And what
did they do. The very first week

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00:12:54,039 --> 00:12:58,399
of two thousand and one, Alan
Greenspag comes out and they announced an emergency

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meeting cut fifty basis points. I
remember that basically ushered in the gold bone

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00:13:03,759 --> 00:13:09,480
market that lasted a decade and old
went from two fifty to nineteen twenty five.

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I remember it well, me too. I mean, I didn't get

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in until two thousand and three,
but you know, I was accumulating stocks

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00:13:16,960 --> 00:13:20,840
from gold stocks from two thousand and
three to two thousand and five. You

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00:13:20,879 --> 00:13:24,320
know, you know, I did
something crazy and looking back on it,

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very stupid, and selling my house
and putting all the proceeds into juniors.

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But at the time, you know, I wasn't married, I didn't have

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a family. You know, it
was just me. So it still going

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to ford a solid opportunity. I'm
like, this is this is this is

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00:13:35,600 --> 00:13:39,799
an incredible opportunity that could change my
life. And I'm lucky. Luckily for

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me, it was the right call
because six months after I did it,

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the gold price finally got over to
that five hundred dollars level, which was

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which was basically what the two thousand
to twenty one hundred dollars it is right

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now. Five hundred back then was
the level that it couldn't get above,

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and once it did, the gold
price doubled in a few years years.

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So my and I did really,
really well, and I became financially independent.

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00:14:05,399 --> 00:14:07,720
I mean I got I mean sure, I got out lucky. But

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I put myself in the position to
be lucky. I did a lot of

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00:14:09,799 --> 00:14:13,559
research, I did a lot of
work, and it paid off for me.

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You know, I definitely don't invest
gestures do that, you know,

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00:14:18,720 --> 00:14:22,679
don't do something like crazy like I
did. But I mean, that's the

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opportunity I see right now, like
I saw back a great I started buying

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00:14:26,440 --> 00:14:33,240
gold, my first few ounces of
it in nineteen ninety nine and I think

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00:14:33,320 --> 00:14:37,480
it was two hundred and eighty dollars
the ounce, and kind of never looked

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00:14:37,559 --> 00:14:41,600
back. And yeah, we've had
our ups and downs for sure, but

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hey, it's basically ninefold the investment
there. So you know, with very

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00:14:50,279 --> 00:14:54,159
holding on to as much as I
possibly could. We had taxes, divorces,

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00:14:54,679 --> 00:15:00,720
weddings and stuff like that, so
at some point happens in between,

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00:15:00,879 --> 00:15:03,879
right, yeah, but that's why
you have it, you know exactly,

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00:15:03,120 --> 00:15:07,159
ultimate savings. And you hope,
you hope to keep it to pass it

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00:15:07,200 --> 00:15:09,559
on to your kids. You hope
you don't have to use that. Hey,

202
00:15:09,720 --> 00:15:11,320
you have to use some, you
got to use some. But I

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00:15:11,399 --> 00:15:16,399
kept all my silver. I have
a friend who thanked me because in two

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00:15:16,440 --> 00:15:20,240
thousand and nine, ten and eleven, so I got him to buy gold,

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00:15:20,320 --> 00:15:24,240
and he bought a lot more than
me, and then his business went

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down the tubes and the divorce and
a whole bunch of other stuff, and

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he held on it in gold.
He had to he had to sell off

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a portion of it, oh substantial
portions. But until you know, it

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was a lifeboat for him. He
said, if I hadn't listened to you,

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if I hadn't bought that gold,
I would have never saved that much

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money in the bank and be able
to flut my way through the couple of

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bed years that I had. Right, So the ultimately is a different I'm

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accepting physical that could that could save
you and not being able to click a

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button to get rid of it exactly, exactly and really important. And that's

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the way he worked for me too. I mean, you know, that's

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in a couple of rough years.
But I had the metal there. I

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always knew I had it. I
still have it, And when I had

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to dispose of some to pay some
bills I did, I didn't feel good

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about it. It was like gut
wrenching to me, David, because I

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knew where it was heading. But
I wanted it seven and eight hundred so

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it's still selling it a substantial profit
a you know, one hundred percent or

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so, but you know it hurt, no question about it. So yeah,

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I mean the same thing with me. You know, I've had that

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rock, and fortunately, fortunately for
me, I've never had to sell any

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you know, and I haven't bought
any in quite a while. I haven't

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bought any for for for over ten
years, I know, from longer than

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that, I think fifteen years,
I haven't bought any. It just sits

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there and you know, hopefully I
can pass it along to my son.

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But it's the silver that I bought
most of, and I bought it,

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you know, less than five bucks
an ounce, and I don't even think

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about it. I just think that's
something I hope i'd never have to use

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and I could just pass it along
to my sid Yeah. I bought a

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lot of it in that six seven
dollars range in when silver crashed after the

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great financial collapse, that's when I
bought it. I was in there with

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two hands nice the post office was
bringing a handtruck into my office with the

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bags of silver. That's what you
have to do in this sector, right,

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you have to buy those fishy lines
and sell those right o ords.

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I mean, especially in the stocks
for sure. Hey, so I think

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now and I think it'll agree,
it's much easier to pick out those really

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good juniors. Yeah, then it's
ever been before because all the other ones

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are literally on Karen maintenance. They're
in like comas centers, right, yep,

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absolutely absolutely, And you've got all
this time to do all the proper

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research to get into the right ones. And if you don't have the time,

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you know, you can subscribe to
a news letter like mine that it's

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basically started his I've basically started my
own mutual fund, right. I have

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twenty stocks, twenty juniors that I
you know, researched the hell out of.

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I have a twenty stock watch list
also in case, you know,

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one of them does something I don't
like and I can replace it with something.

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And I know these management teams really, really well. Many of them

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made me a lot of money in
the past with previous projects, and I

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keep up to date with them.
You know. I go to Beaver Creek

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and I go to the PEDAC conference. There are six months apart, so

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I get to speak with pretty much
everybody face to face that I need to

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speak with every six months and if
something happens, you know, they're they're

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00:18:48,799 --> 00:18:52,160
always available for me to to talk
to them on a zoom meeting anytime I

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want. And you know, these
companies are doing the right things at the

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right time. They're raising money at
the right time. There their weathering storm.

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They know, they have fantastic projects, they have the access to capital,

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and they're just doing the right things
in a really really bad market,

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you know, and you really really
in a bad market, you know,

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it's the good projects always get financed. Yeah, so true, especially these

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exploration companies. You know, they
you know, they really need to start

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merging. Some of them are starting
to sell off some projects, but they

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need to start merging. We see
some of it, but we need to

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see a lot more. Yeah.
Well, I like when they sell off

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a project, they take shares back
in another company that can then consolidate that

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project. So they're sitting on a
really nice, you know, potential return

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on investment. So the optionality in
these shares really increases. And right you

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know, there's a number right now. The really good thing right now is

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you don't need to be a high
net worth investor to take place in a

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in a finance to get a warrant
to have huge upside, right, because

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these juniors are trading in perpetual war
prices right now, you don't have to

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you don't have to deal with having
to, you know, get into a

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private placement, worry about having to
sell them four months later, or if

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you're a US investor like me,
I mean, I pretty much stopped participating

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in private placement because they don't make
any sense for you US investors anymore.

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Nah No, especially when the Canadians
don't have the hold at all now right,

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head for the exits and when there's
a new financing, they sell the

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shares they had and they go into
the new one and they get a warrant

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00:20:37,640 --> 00:20:41,079
and you know, right, while
US investors have to deal with a draconian

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legend removal process which is ridiculous,
which is irrational and has no place in

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00:20:47,240 --> 00:20:52,000
the current financial markets. The way
that business has transacted, it's a paper

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00:20:52,160 --> 00:20:57,920
process when we're using digital markets,
makes no sense exactly, Yep, makes

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00:20:57,960 --> 00:21:03,960
no sense. Very least the hold
should automatically dissolve. Okay, if you've

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00:21:03,960 --> 00:21:11,000
got behold, Yes, these fees
they continue to charge us, Yeah,

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00:21:11,160 --> 00:21:14,799
US investors have to pay so many
fees. It just doesn't make any sense.

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00:21:15,039 --> 00:21:21,319
It's enough to make you want to
give up your citizenship move can well

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00:21:21,480 --> 00:21:25,640
at it is no solution. But
Wes, you're not an American and you're

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00:21:25,680 --> 00:21:33,279
not subject to right, right exactly, only Americans who have penalized. So,

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00:21:34,160 --> 00:21:38,200
but we can rant and rave about
tax wherever we go. You can't

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00:21:38,319 --> 00:21:42,920
escape it. Tax on global earnings. And then they want an exit tax

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00:21:44,000 --> 00:21:47,839
if you have too much money and
you leave. So but more and more

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00:21:47,920 --> 00:21:55,279
people are becoming expats and renouncing their
US citizenship, and that should be a

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00:21:56,559 --> 00:21:59,519
warning call, just like the price
of gold, you know, yep,

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So all right, I don't want
to be a wet towel here, bummer.

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I think the opportunities there if it's
if we don't, you know,

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00:22:07,559 --> 00:22:11,279
it would make sense that we'll see
another low, maybe in March, you

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know, maybe in more well yeah, I mean watched silver and the shares

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when they start to outperform gold,
then you know it's a bottom basically,

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Yeah, good point. All right, Hey, Junior Minor Junkie dot com

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00:22:26,559 --> 00:22:30,559
link is in the show notes of
this interview on Financial Survival Network dot com.

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00:22:30,000 --> 00:22:36,400
Question for David myself, shoot me
an email, Klatcarrie LUTs dot com

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00:22:37,240 --> 00:22:41,400
and Hey, sign up for a
free newsletter. David, Always a pleasure,

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00:22:41,559 --> 00:22:44,079
Thanks for stopping by. Thank you
Carry Always great to talk to you.

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00:22:44,599 --> 00:22:49,200
Thanks for listening to Carrie Letz's Financial
Survival Network, your solution to today's

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00:22:49,359 --> 00:22:55,039
trying times. For the latest,
go to Financial Survival Network dot com.

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00:22:55,240 --> 00:23:03,279
Financial Survival Network now more than ever, CRUs