1 00:00:01,040 --> 00:00:04,839 Speaker 1: You were listening to Carrie Letz's Financial Survival Network, where 2 00:00:04,879 --> 00:00:08,279 you get valuable information you just can't find anywhere else 3 00:00:08,839 --> 00:00:12,439 to thrive in today's trying times. You need the Financial 4 00:00:12,519 --> 00:00:17,600 Survival Network now more than ever. Go to Financial Survivalnetwork 5 00:00:17,640 --> 00:00:21,399 dot com and get your free newsletter and gift. Financial 6 00:00:21,519 --> 00:00:24,960 Survival Network now more than ever. 7 00:00:28,359 --> 00:00:32,039 Speaker 2: Well, hello everybody, I'm Andy Schackman. I suppose you all 8 00:00:32,079 --> 00:00:34,719 know that by now. To my right is Carrie Lutz, 9 00:00:34,759 --> 00:00:36,960 and I'm sure all of you know that by now. 10 00:00:37,000 --> 00:00:37,880 Speaker 3: And for a. 11 00:00:37,880 --> 00:00:42,840 Speaker 2: Long time I've been going on everyone else's show and wondering, well, 12 00:00:42,880 --> 00:00:46,159 maybe I should attempt to do my own. So Carrie, 13 00:00:46,840 --> 00:00:50,560 my new neighbor, was kind enough to come over and 14 00:00:50,759 --> 00:00:53,640 help get me set up, and we figured we. 15 00:00:53,840 --> 00:00:55,359 Speaker 3: Launch show number one. 16 00:00:55,399 --> 00:00:56,960 Speaker 2: I don't even have a name for the show yet, 17 00:00:57,000 --> 00:00:58,600 but it's something I've been meaning to do. 18 00:00:58,560 --> 00:00:59,960 Speaker 3: With the Miles Franklin Report. 19 00:01:00,240 --> 00:01:02,920 Speaker 2: Oh oh, all right, the mild strengthening part there it is, 20 00:01:02,960 --> 00:01:06,599 so yeah, little by little. Maybe we'll call it little 21 00:01:06,599 --> 00:01:09,920 by little then all at once. That's my favorite mantra. 22 00:01:09,959 --> 00:01:13,000 In fact, I got a picture over there that speaks 23 00:01:13,040 --> 00:01:15,280 to that. I had it made Little by Little then 24 00:01:15,319 --> 00:01:17,359 all at once. It means a lot to me. There's 25 00:01:17,400 --> 00:01:21,239 a lot you could say for logarithmic decay and how 26 00:01:21,280 --> 00:01:27,200 it feeds into the world these days, whether it be economically, socially, morally, 27 00:01:28,439 --> 00:01:29,079 you name it. 28 00:01:29,159 --> 00:01:30,239 Speaker 3: Things just seem to be. 29 00:01:30,239 --> 00:01:32,359 Speaker 2: Changing little by little, and then you wake up one 30 00:01:32,439 --> 00:01:35,760 day and it's all at once. And so anyways, so 31 00:01:35,879 --> 00:01:39,159 too is my aspirations of starting a show. 32 00:01:39,239 --> 00:01:40,400 Speaker 3: Little by little by little. 33 00:01:40,439 --> 00:01:44,079 Speaker 2: I've been attempting to do this, getting pieces and having 34 00:01:44,120 --> 00:01:47,439 them sit unopened on my desk and finally carry twisted 35 00:01:47,519 --> 00:01:51,680 my arm enough to get this going. So we figured 36 00:01:51,719 --> 00:01:53,760 since we just got everything set up, we talked a 37 00:01:53,760 --> 00:01:58,239 little bit about silver. Carrie was prodding me to ask 38 00:01:58,319 --> 00:02:01,560 me why silver wouldn't get above thirty. I mentioned that 39 00:02:01,640 --> 00:02:03,799 it did today, and he was saying, do you think 40 00:02:03,799 --> 00:02:05,840 it would stay there? And why the hell hasn't it 41 00:02:05,920 --> 00:02:06,719 gone higher? 42 00:02:06,799 --> 00:02:09,439 Speaker 3: Is that about right? Yeah? I think that pretty much 43 00:02:09,439 --> 00:02:09,960 sums it up. 44 00:02:09,960 --> 00:02:14,199 Speaker 4: But before we get into that twenty five hundred dollars gold, 45 00:02:14,439 --> 00:02:19,400 So technically twenty five hundred means nothing, but psychologically in 46 00:02:19,439 --> 00:02:22,639 the world that's a quarter of ten thousand. I mean 47 00:02:22,680 --> 00:02:27,520 it's a big, big number, okay, And we finally breached it, 48 00:02:28,240 --> 00:02:33,360 and we're met universally with yawns all across the globe 49 00:02:33,840 --> 00:02:35,159 except for the people who know. 50 00:02:36,080 --> 00:02:37,280 Speaker 3: Yeah, I find that crazy. 51 00:02:37,319 --> 00:02:41,800 Speaker 2: Actually, to be honest with you, the lack of any 52 00:02:41,879 --> 00:02:47,039 media participation, in the lack of any fanfare whatsoever, is 53 00:02:47,840 --> 00:02:51,840 shockingly quiet. I mean, coming from someone who's done this 54 00:02:51,919 --> 00:02:55,159 for thirty five years almost. You know, when gold was 55 00:02:55,159 --> 00:02:57,360 two hundred and fifty two dollars, if you told me 56 00:02:57,639 --> 00:02:59,919 it would be ten times that price, and it would 57 00:02:59,919 --> 00:03:05,000 have virtually no attention and virtually no investment by the 58 00:03:05,120 --> 00:03:09,719 United States mainstream. Rick Ruhloffen talks about one half of 59 00:03:09,759 --> 00:03:13,240 one percent allocation from Joe and Jane six pack all 60 00:03:13,280 --> 00:03:15,400 the way up to the Harvard Endowment Fund, and something 61 00:03:15,400 --> 00:03:17,719 that you follow, perhaps a little bit more closely than 62 00:03:17,759 --> 00:03:18,919 I do, the mining shares. 63 00:03:19,280 --> 00:03:19,439 Speaker 3: Now. 64 00:03:19,479 --> 00:03:22,080 Speaker 2: I have a mining share portfolio because I've worked very 65 00:03:22,080 --> 00:03:25,879 closely with sprot USA for a very long time, and 66 00:03:25,919 --> 00:03:28,039 out of respect, since they have been kind enough to 67 00:03:28,080 --> 00:03:31,439 trust me with their clients, I haven't managed to count there, 68 00:03:31,479 --> 00:03:34,120 and I don't even know exactly all the shares that 69 00:03:34,159 --> 00:03:37,439 I own. I trust my broker there, who's a friend 70 00:03:38,000 --> 00:03:40,560 well enough to represent my best interests and that might 71 00:03:40,599 --> 00:03:42,759 not be the smartest way to do things. But the 72 00:03:42,800 --> 00:03:45,360 bottom line is is that I know I have a 73 00:03:45,479 --> 00:03:50,280 nice allocation to mining shares. And what's even more startling 74 00:03:50,319 --> 00:03:52,000 to me is that if you told me gold would 75 00:03:52,000 --> 00:03:54,240 be twenty five hundred dollars and the mining shares would 76 00:03:54,240 --> 00:03:56,159 be beaten down the way that they have, I would say, 77 00:03:56,159 --> 00:03:58,280 there's just no possible way that that could happen. 78 00:03:58,319 --> 00:04:00,199 Speaker 3: What do you think? 79 00:04:00,240 --> 00:04:00,520 Speaker 1: Good? 80 00:04:00,960 --> 00:04:07,080 Speaker 4: And little by little, you know, but Neumont just to 81 00:04:08,039 --> 00:04:12,280 just announced it a couple of weeks ago, like record earnings, 82 00:04:12,360 --> 00:04:15,280 and I almost bought options on that stock, but doesn't 83 00:04:15,319 --> 00:04:18,759 count didn't do it, but it was at forty forty 84 00:04:18,800 --> 00:04:21,759 one forever and it didn't move, and then all of 85 00:04:21,759 --> 00:04:25,800 a sudden, hey they had four hundred million dollars a 86 00:04:25,879 --> 00:04:27,199 higher profit. 87 00:04:27,120 --> 00:04:28,199 Speaker 3: And Numont went up. 88 00:04:28,639 --> 00:04:33,879 Speaker 4: So the quality juniors are going to get bought up. 89 00:04:34,199 --> 00:04:37,639 There is no other choice because the majors, the Nuance, 90 00:04:37,759 --> 00:04:43,519 the Achnigo's, the the barracks, they're all seeing declining reserves. 91 00:04:43,800 --> 00:04:47,720 So that's the argument for it. Why it hasn't gone up. Well, 92 00:04:48,120 --> 00:04:51,360 I think that there's a lot of people have lost 93 00:04:51,399 --> 00:04:54,079 a lot of money in the sector over the years, 94 00:04:54,800 --> 00:04:58,360 and they're they're literally going to have to be dragged, 95 00:04:58,480 --> 00:05:02,360 kicking and screaming get back into it. But that's the opportunity. 96 00:05:02,800 --> 00:05:05,279 You know, Hey, how long do we sit around and 97 00:05:05,319 --> 00:05:06,759 wait for gold to get this point? 98 00:05:06,839 --> 00:05:08,959 Speaker 2: I think that's really it, though, Carrie's I mean, I 99 00:05:09,000 --> 00:05:11,120 think that is really hitting the nail on the head 100 00:05:11,160 --> 00:05:14,759 is that it's like the little boy you cried wolf 101 00:05:15,000 --> 00:05:18,279 and the market doesn't believe it. I think that's what 102 00:05:18,319 --> 00:05:20,639 it is. In fact, I think even the bulls don't 103 00:05:20,639 --> 00:05:25,560 believe it. That we've witnessed so many pullbacks that are 104 00:05:27,800 --> 00:05:32,240 counterintuitive that were so far past when this should have 105 00:05:32,319 --> 00:05:34,079 all happened, and it's happened. 106 00:05:33,759 --> 00:05:35,560 Speaker 3: So many times, and how many times do I need 107 00:05:35,600 --> 00:05:36,000 to hear it? 108 00:05:36,040 --> 00:05:39,759 Speaker 2: And I think the market just doesn't believe it. And 109 00:05:40,240 --> 00:05:43,600 that's what to me potentially makes this so very strong. 110 00:05:43,720 --> 00:05:48,240 Rick was talking about Rick rule about in this environment 111 00:05:48,279 --> 00:05:50,759 he would expect to see the majors go first, the 112 00:05:50,800 --> 00:05:54,600 ones that you mentioned, the barracks and the numents, and 113 00:05:55,000 --> 00:05:59,600 the the mid tier majors, and then the juniors, and 114 00:05:59,639 --> 00:06:03,399 then the explorations and of course also the maybe my favorite, 115 00:06:03,879 --> 00:06:08,680 the royalty stocks that royalty is for sure, but it's 116 00:06:08,720 --> 00:06:10,759 interesting when you put it in that light. And I 117 00:06:10,759 --> 00:06:15,000 think the same thing is true about Silver. People just 118 00:06:15,120 --> 00:06:19,480 don't believe that it will go. And I think that 119 00:06:19,839 --> 00:06:23,639 that that's fair. That's a fair point. We've watched it 120 00:06:24,199 --> 00:06:27,800 get hammered for so many years and so many times 121 00:06:27,839 --> 00:06:31,519 when the fundamentals would say that it shouldn't. And yet 122 00:06:31,560 --> 00:06:35,160 Gold here we are showing or leading the way. Now 123 00:06:35,319 --> 00:06:38,600 that's also typically the way things go. Gold typically leads 124 00:06:38,600 --> 00:06:42,720 the way in these moves and Silver follows suit, oftentimes 125 00:06:42,759 --> 00:06:45,759 outpacing percentage wise, Gold's gains. 126 00:06:46,680 --> 00:06:48,120 Speaker 3: He said something to me. 127 00:06:48,560 --> 00:06:50,839 Speaker 2: This afternoon that made me say, well, why didn't I 128 00:06:50,879 --> 00:06:53,920 show the PowerPoint that I did at Rick's show, at 129 00:06:54,040 --> 00:06:57,720 least a few of the slides to explain in my 130 00:06:57,839 --> 00:07:01,600 mind why Silver has been back. I'm going to share 131 00:07:01,680 --> 00:07:03,800 my screen if you don't mind, Carrie, and I'm going 132 00:07:03,879 --> 00:07:05,720 to show people here. 133 00:07:07,079 --> 00:07:08,759 Speaker 3: Gre England. So we go. 134 00:07:09,040 --> 00:07:12,079 Speaker 2: I'm still a rookie year, all right. I hope we're 135 00:07:12,120 --> 00:07:14,839 sharing our screen. I think we are all right of it. 136 00:07:15,160 --> 00:07:19,360 So we're going to skip past this one. We don't 137 00:07:19,360 --> 00:07:22,519 need any of that nonsense. But here's a smoking gun, 138 00:07:22,560 --> 00:07:26,120 as far as I'm concerned, Right, So let's start here. Now, 139 00:07:26,160 --> 00:07:28,720 this you can google all of this. This is and 140 00:07:29,079 --> 00:07:31,560 this is courtesy of the pickaxe. And John Little is 141 00:07:31,560 --> 00:07:36,040 a hell of a hell of a researcher. I will 142 00:07:36,040 --> 00:07:38,800 give him that. And he's he's brought a lot of 143 00:07:38,839 --> 00:07:42,040 things to the market that a silver bug should be 144 00:07:42,079 --> 00:07:45,000 thankful for, and this is one of them. There's a 145 00:07:45,040 --> 00:07:49,800 subcommittee in October of nineteen forty two, a subcommittee subcommittee 146 00:07:49,800 --> 00:07:52,480 hearing on banking and currency. You can see at s 147 00:07:52,560 --> 00:07:55,079 dot two seven sixt eight, And it was a bill 148 00:07:55,160 --> 00:07:59,240 to authorize for war purposes the silver held are owned 149 00:07:59,240 --> 00:08:01,800 by the United States. And as you can see here 150 00:08:01,879 --> 00:08:05,199 just by reading the first couple of paragraphs here, the 151 00:08:05,240 --> 00:08:08,279 present consumption of silver for war purposes is at a 152 00:08:08,360 --> 00:08:10,160 rate of about one hundred million ounces a year and 153 00:08:10,240 --> 00:08:13,360 is growing rapidly. According to the War Production Board, it 154 00:08:13,399 --> 00:08:15,439 is only a matter of months before war demands will 155 00:08:15,480 --> 00:08:18,319 have increased sufficiently to require at least two hundred million 156 00:08:18,360 --> 00:08:21,959 ounces a year. All right, So that's nineteen forty two, right, 157 00:08:22,079 --> 00:08:26,319 And if we think about where we are now, I 158 00:08:26,360 --> 00:08:30,360 gave a speech where at Jay Martin's conference in Vancouver 159 00:08:30,399 --> 00:08:34,200 two years ago where I said to the audience, there's 160 00:08:34,240 --> 00:08:36,759 five hundred ounces in the tip of a Tomahawk cruise missile. 161 00:08:37,559 --> 00:08:38,159 Speaker 3: Excuse me. 162 00:08:38,200 --> 00:08:41,039 Speaker 2: And the man came up to me after the speech 163 00:08:41,039 --> 00:08:44,879 and he said, you know, I'm a consultant for the DoD. 164 00:08:46,080 --> 00:08:49,360 I worked on the team that developed the Tomahawk, and 165 00:08:50,559 --> 00:08:52,440 I know that they're silver, and I don't know how 166 00:08:52,519 --> 00:08:53,960 much I'll let you know. And I never heard from 167 00:08:54,039 --> 00:08:57,159 him again. But I went back there this year in January, 168 00:08:58,080 --> 00:09:00,200 gave a different speech, and there he was and was 169 00:09:00,240 --> 00:09:03,240 standing there with a handful of photos. Said you remember me. 170 00:09:03,919 --> 00:09:06,039 I said, I do, and he showed me a bunch 171 00:09:06,080 --> 00:09:08,799 of photos said, don't worry, this is all declassified. He said, 172 00:09:08,799 --> 00:09:12,759 but you're right. There is between thirteen and fourteen kilograms 173 00:09:12,799 --> 00:09:15,320 of silver in the tip of a Tomahawk. And he 174 00:09:15,360 --> 00:09:17,200 showed me all sorts of pictures and how they had 175 00:09:17,240 --> 00:09:20,399 difficulty getting it to launch vertically because it was meant 176 00:09:20,399 --> 00:09:23,960 to design to come out of torpedo tubes of a 177 00:09:24,000 --> 00:09:25,320 submarine and all sorts of stuff. 178 00:09:25,360 --> 00:09:27,440 Speaker 3: It was an interesting conversation, but what I took. 179 00:09:27,320 --> 00:09:30,360 Speaker 2: Away from it is that in these high tech weapons, 180 00:09:30,360 --> 00:09:34,480 silver is used and copiously at that. So in any case, 181 00:09:34,639 --> 00:09:36,519 keep that in mind as we move forward. Here in 182 00:09:36,600 --> 00:09:39,320 nineteen forty two, where told two hundred million ounces would 183 00:09:39,320 --> 00:09:43,519 be need for military equipment, and the level of sophistication 184 00:09:43,759 --> 00:09:48,639 is exponentially higher. Now so here are the supply demand 185 00:09:48,679 --> 00:09:51,000 numbers that come out of the Silver Institute. And if 186 00:09:51,039 --> 00:09:54,080 we look at the demand section here, first of all, 187 00:09:54,159 --> 00:09:56,559 we see once again there's one two hundred and sixty 188 00:09:56,639 --> 00:10:01,519 million ounce shortfall projected between supply and demand. But look 189 00:10:01,519 --> 00:10:05,879 at the demand totals. We have industrial demand which is 190 00:10:06,639 --> 00:10:11,639 solar nine percent, electrical and electronics, of which photovotalics twenty percent, 191 00:10:12,240 --> 00:10:14,200 raising alloys and solders three percent. 192 00:10:14,279 --> 00:10:16,360 Speaker 3: By the way, I have a client who is. 193 00:10:16,360 --> 00:10:21,080 Speaker 2: A mechanic for United Airlines, is said, the amount of 194 00:10:21,159 --> 00:10:26,879 silver solder inside these airplanes is extraordinary. Anyways, other industrial 195 00:10:27,279 --> 00:10:31,039 three percent or nine percent, photography negative three percent, jewelry 196 00:10:31,080 --> 00:10:35,679 for silverware seven net investments sol Nowhere in here do 197 00:10:35,720 --> 00:10:39,440 we see military applications at all zero And yet we're 198 00:10:39,480 --> 00:10:42,679 told there is a two hundred plus million ounce shortfall. 199 00:10:42,679 --> 00:10:46,200 We are told that we are running out of silver 200 00:10:46,519 --> 00:10:49,240 in above ground. And when we look at the supplied 201 00:10:49,240 --> 00:10:52,639 demand numbers, nowhere on there does it mention military and 202 00:10:52,679 --> 00:10:55,559 in nineteen forty two we know they were using up 203 00:10:55,600 --> 00:10:57,240 to two hundred million ounces a year. 204 00:10:57,759 --> 00:10:58,480 Speaker 3: And as a. 205 00:10:58,399 --> 00:11:02,320 Speaker 2: Result, take a look at this and maybe this chart 206 00:11:02,759 --> 00:11:07,360 will help unders go or what's happening. 207 00:11:07,600 --> 00:11:07,879 Speaker 3: I don't know. 208 00:11:07,919 --> 00:11:09,840 Speaker 2: If that's in your way, it is to get another 209 00:11:09,879 --> 00:11:13,000 micro good here. So this is the comax market. And 210 00:11:13,039 --> 00:11:16,159 if you can see, the red line represents the four 211 00:11:16,399 --> 00:11:21,600 largest commercial banks short and the green line represents the 212 00:11:21,679 --> 00:11:24,600 eight largest. So the four plus the other four. So 213 00:11:24,639 --> 00:11:27,559 there are eight banks in essence right now, eight banks, 214 00:11:27,639 --> 00:11:29,559 all Western banks, and we can say they would be 215 00:11:29,600 --> 00:11:35,039 Standard Charter, Deutsche Bank, HSBC, JP, Morgan City Bank, Bank 216 00:11:35,080 --> 00:11:39,399 of America, Goldman Sachs, and I don't know who else. 217 00:11:39,440 --> 00:11:41,679 But the point of it is is that there are 218 00:11:41,799 --> 00:11:46,080 eight commercial banks right now that have the largest concentrated 219 00:11:46,120 --> 00:11:48,720 short position of any commodity ever traded in the history 220 00:11:48,720 --> 00:11:52,120 of the comex market period. And you have to ask yourself, 221 00:11:52,120 --> 00:11:54,879 why the hell would eight banks be shorting silver wind 222 00:11:54,919 --> 00:11:58,559 Countries like India have imported over seven hundred million ounces 223 00:11:58,639 --> 00:12:01,879 last year over the last two years. Rather, why would 224 00:12:01,879 --> 00:12:05,480 they do that when China right now, according to Shan 225 00:12:05,600 --> 00:12:08,440 Kun Kun from Dali Varden and according to others that 226 00:12:08,480 --> 00:12:12,080 I've talked with who have publicly told me in videos recently, 227 00:12:12,120 --> 00:12:15,679 that China is going all around Latin America buying up 228 00:12:15,720 --> 00:12:19,320 the dore bars and the silver concentrate, paying way more 229 00:12:19,360 --> 00:12:22,279 than the West will pay, and doing so to get 230 00:12:22,320 --> 00:12:25,519 it in unrefined fashion, send it back to China and 231 00:12:25,559 --> 00:12:28,039 refine it there so it's not pulled off of an exchange, 232 00:12:28,080 --> 00:12:32,480 it isn't factored into any pricing mechanism, it's in essence invisible. 233 00:12:32,519 --> 00:12:35,159 And this from the second largest producer of silver in 234 00:12:35,200 --> 00:12:39,919 the world, China, who has just become a net importer 235 00:12:40,120 --> 00:12:43,519 instead of a net exporter. So when you look at 236 00:12:43,600 --> 00:12:47,240 countries like China and India who are voraciously accumulating silver 237 00:12:47,879 --> 00:12:52,919 using this stupidity, this brain dead weaponization of the commodity market, 238 00:12:52,919 --> 00:12:55,240 where eight banks are suppressing the price of silver to 239 00:12:55,320 --> 00:12:58,679 this degree, to the degree of the largest concentrated short 240 00:12:58,679 --> 00:13:00,639 position ever seen. And look when we contrast it to 241 00:13:00,679 --> 00:13:02,919 crude oil way down here. Remember how they put crude 242 00:13:02,919 --> 00:13:05,519 oil and negative forty of barrel in twenty twenty. The 243 00:13:05,600 --> 00:13:07,879 fact that you have eight banks shortening this price tells 244 00:13:07,879 --> 00:13:10,879 you there's something important about silver. Now, think about what 245 00:13:10,879 --> 00:13:14,120 we were just saying. Think of all of the weapons 246 00:13:14,120 --> 00:13:16,679 that are being created, the high tech weapons and aerospace 247 00:13:16,759 --> 00:13:20,519 and stealth bombers and all of this stuff that the 248 00:13:20,519 --> 00:13:22,799 military industrial complex is involved in. 249 00:13:23,240 --> 00:13:24,120 Speaker 3: We just voted to. 250 00:13:24,039 --> 00:13:26,559 Speaker 2: Give another I don't know, one hundred and fifty million 251 00:13:26,600 --> 00:13:29,000 dollars or so on top of all the billions they've 252 00:13:29,039 --> 00:13:31,399 given the Ukraine, and almost all of it is in weaponry, 253 00:13:31,480 --> 00:13:33,720 all of it. They're giving all of this money to 254 00:13:33,759 --> 00:13:36,799 the military industrial complex to make high tech weaponry. And 255 00:13:36,840 --> 00:13:40,559 the only way that they're able to create this stuff 256 00:13:40,559 --> 00:13:42,559 and to sell it all around the world is to 257 00:13:42,639 --> 00:13:46,519 keep the price of silver down. And what is interesting 258 00:13:46,639 --> 00:13:48,879 about that when you see this and then look at 259 00:13:48,879 --> 00:13:53,320 this frame, we can see that the people around the world, 260 00:13:53,399 --> 00:13:56,360 like China and India are using this suppression against us. 261 00:13:56,440 --> 00:13:59,159 They understand what we are doing, They understand that we 262 00:13:59,200 --> 00:14:03,759 are holding down the but they were never motivated, coordinated, sophisticated, 263 00:14:03,840 --> 00:14:06,240 wealthy enough and to stand for delivery. 264 00:14:06,519 --> 00:14:07,840 Speaker 3: But that's what they are doing. 265 00:14:07,840 --> 00:14:09,879 Speaker 2: And this is the LBMA and the London Bullion Metal 266 00:14:09,919 --> 00:14:13,519 Association who said it's the second lowest or nearly the 267 00:14:13,559 --> 00:14:15,519 lowest amount of silver they have ever had in their 268 00:14:15,559 --> 00:14:16,279 vaults since they. 269 00:14:16,200 --> 00:14:20,000 Speaker 3: Started keeping records. You're seeing the same thing on comes. 270 00:14:19,720 --> 00:14:24,720 Speaker 2: Massive deliveries and rehypothication on comex of over fifteen hundred percent, 271 00:14:25,159 --> 00:14:28,879 where fifteen people think they own the same contract. If 272 00:14:28,919 --> 00:14:32,120 everyone stood for delivery, one may get the silver, the 273 00:14:32,159 --> 00:14:34,399 rest get cash settled. It was like Bernie Madoff had 274 00:14:34,399 --> 00:14:36,360 a good deal going until people said, give me my 275 00:14:36,399 --> 00:14:38,840 money back. So this is what I wanted to show 276 00:14:38,879 --> 00:14:41,519 you and get your opinion. You're feeling on it. So 277 00:14:42,039 --> 00:14:45,960 the question really to me is if silver is it 278 00:14:46,159 --> 00:14:49,320 more or less? Not even industrial? To me, it's strategic. 279 00:14:49,360 --> 00:14:52,240 It's needed in so many things, including military, and they 280 00:14:52,240 --> 00:14:55,000 strip it from the supplied demand numbers. We have eight 281 00:14:55,080 --> 00:14:57,120 banks shortening it to the degree that no one's ever 282 00:14:57,120 --> 00:15:00,639 seen in any commodity ever. And then we see this, 283 00:15:00,840 --> 00:15:02,919 We see the vaults being bled dry, and they're being 284 00:15:02,960 --> 00:15:06,519 bled dried by the countries who are now smart to 285 00:15:06,679 --> 00:15:09,559 our Khan and are using it against It's kind of 286 00:15:09,639 --> 00:15:12,559 like jiu jitsu, where you use your opponent's leverage against them. 287 00:15:13,080 --> 00:15:14,519 Speaker 3: This is why silver hasn't gone. 288 00:15:14,519 --> 00:15:16,440 Speaker 2: And this is what I think when we talk about 289 00:15:16,440 --> 00:15:18,240 little by little, by little by little bit bang all 290 00:15:18,240 --> 00:15:20,759 at once. The all once moment is when there is 291 00:15:20,799 --> 00:15:23,480 no silver left to be delivered on these Western exchanges, 292 00:15:23,840 --> 00:15:26,519 and then it moves to the Shanghai. So this finished 293 00:15:26,519 --> 00:15:28,480 one more thing, and I'll let you jump in here. 294 00:15:29,159 --> 00:15:31,279 Shanghai silver has been priced four bucks and an ounce 295 00:15:31,320 --> 00:15:34,200 higher for the past couple of months than LBMA, and 296 00:15:34,240 --> 00:15:37,279 then by COMEX. It's continuing to go higher. And in 297 00:15:37,320 --> 00:15:43,360 the past roughly three months, the combined volume of the 298 00:15:43,399 --> 00:15:46,240 Shanghai Metals Exchange and the Shanghai Futures Exchange has gone 299 00:15:46,320 --> 00:15:49,759 up over two hundred percent, and that volume now surpasses 300 00:15:49,759 --> 00:15:53,919 the COMEX, effectively making it the second most highly traded 301 00:15:54,200 --> 00:15:57,720 exchange in the world behind the LBMA. It is gaining legitimacy. 302 00:15:58,080 --> 00:16:01,480 And when these exchanges are viewed for the scam that 303 00:16:01,559 --> 00:16:06,559 they are. This leveraged, rehypothecated game where no one ever 304 00:16:06,559 --> 00:16:10,720 stood for delivery allowed us to fool the world into 305 00:16:10,720 --> 00:16:13,039 thinking our bond market and our currencies and all of 306 00:16:13,039 --> 00:16:17,000 these commodities we needed. You know, one was of strength 307 00:16:17,000 --> 00:16:19,320 and the other is to suppress the price. All of 308 00:16:19,360 --> 00:16:21,759 this will be exposed and you will see I believe 309 00:16:22,440 --> 00:16:26,879 a repricing of metals and repricing of commodities off of 310 00:16:26,919 --> 00:16:30,840 these exchanges to exchanges across the globe where the people 311 00:16:30,960 --> 00:16:33,519 who run these exchanges are the ones who produce it, 312 00:16:33,559 --> 00:16:37,519 accumulate it, and understand it. And we have really squandered 313 00:16:37,600 --> 00:16:40,360 I think the privilege of being able to set these 314 00:16:40,440 --> 00:16:43,600 prices with a fair exchange, because the concept of a 315 00:16:43,639 --> 00:16:49,120 fair exchange, in my opinion, through rehipoplication through the LBMA 316 00:16:49,159 --> 00:16:53,120 able to trade almost three billion ounces of silver per day. 317 00:16:53,120 --> 00:16:56,039 That's three and a half times annual global mind supply. 318 00:16:56,480 --> 00:16:59,159 It's coming to an end, and that's why I think 319 00:16:59,200 --> 00:17:00,480 silver hasn't on yet. 320 00:17:00,519 --> 00:17:01,919 Speaker 3: And this is what I wanted to show you. So 321 00:17:02,240 --> 00:17:05,039 what do you think. Am I on something or on something? 322 00:17:05,599 --> 00:17:08,680 Speaker 4: Do you remember the guy Beerman and he was around 323 00:17:08,880 --> 00:17:12,880 like when I first started in the space, and he said, 324 00:17:13,319 --> 00:17:17,079 silver is the worst investment in the world, and it's 325 00:17:17,119 --> 00:17:19,640 going to continue to be the worst investment in the 326 00:17:19,640 --> 00:17:22,680 world until one day you're going to wake up and 327 00:17:22,759 --> 00:17:24,839 silver is going to be the best investor. 328 00:17:24,480 --> 00:17:25,200 Speaker 3: Yeah, in the world. 329 00:17:25,880 --> 00:17:29,839 Speaker 4: And it seems to me that that's where we're we're heading. 330 00:17:31,119 --> 00:17:34,839 I don't know if those the actual military consumption is 331 00:17:35,400 --> 00:17:38,279 hidden in those numbers. I don't know if they're sitting 332 00:17:38,359 --> 00:17:42,960 on a huge, huge mountain of it someplace in the US. 333 00:17:43,640 --> 00:17:48,039 Very possible because my understanding was for World War Two 334 00:17:48,119 --> 00:17:51,640 they accumulated way more than they ever needed. They needed 335 00:17:51,680 --> 00:17:54,759 it from the atomic bomb, I believe, and they were 336 00:17:54,799 --> 00:17:58,160 sitting on, like, you know, billions of ounces of it. 337 00:17:58,240 --> 00:18:02,000 I have no idea how much. And you know, I 338 00:18:02,039 --> 00:18:07,400 think it's very likely though, that there's an awakening coming here. 339 00:18:07,799 --> 00:18:11,559 And just like we figured out the emperor had no cortex, 340 00:18:12,200 --> 00:18:16,160 we're going to figure out that the emperor's jewelry is 341 00:18:16,160 --> 00:18:20,599 is eight carrot gold filled fake stuff right that the 342 00:18:20,599 --> 00:18:25,160 crown jewels got hopped a long time ago with the crown. 343 00:18:25,480 --> 00:18:28,440 Speaker 2: Well, you know, Big Sweir did a great interview last year. 344 00:18:28,480 --> 00:18:31,200 I remember I was out in the backyard. You know, 345 00:18:31,240 --> 00:18:33,319 I do a lot of research for my podcast, and 346 00:18:33,359 --> 00:18:35,319 so i'll listen to your show. I listened to the 347 00:18:35,319 --> 00:18:39,960 one with Martin Armstrong recently and which was fantastic, and others, 348 00:18:40,000 --> 00:18:42,440 and to gather information to talk about I spent a 349 00:18:42,480 --> 00:18:45,240 lot of time researching, and I remember laying on the 350 00:18:45,319 --> 00:18:48,240 raft and my swimming pool listening to Big Squear's three 351 00:18:48,279 --> 00:18:51,079 part interview with Jack Sermon, and he's the man who 352 00:18:53,039 --> 00:18:55,599 developed really the silver eagle program for the US Mint. 353 00:18:55,599 --> 00:18:57,400 He seventy five years old, and I don't know if 354 00:18:57,440 --> 00:18:59,400 he was clearing his conscience or what, but I literally 355 00:18:59,440 --> 00:19:02,599 fell almost into the pool after he said what he said. 356 00:19:03,039 --> 00:19:05,200 And I think it's an interview people should really listen 357 00:19:05,279 --> 00:19:08,440 to and ask yourself, you know, is there a fine 358 00:19:08,480 --> 00:19:11,519 line between conspiracy and reality? And I have a hard 359 00:19:11,559 --> 00:19:15,440 time believing that there isn't And I don't look at 360 00:19:15,440 --> 00:19:19,720 myself as being conspiratorial, but when you look at the facts, 361 00:19:19,799 --> 00:19:23,279 it just continually all around us. And one of my 362 00:19:23,319 --> 00:19:26,039 favorite lines lately is is it too stupid to be stupid? 363 00:19:26,200 --> 00:19:28,680 Or is it too stupid to not be planned? But 364 00:19:28,720 --> 00:19:31,920 when we listened to what Jack Sermon said, he said, look, 365 00:19:32,359 --> 00:19:35,400 this was in twenty twenty and twenty twenty one, he said, 366 00:19:36,240 --> 00:19:38,680 you know, the Mint came to me and they said, 367 00:19:38,759 --> 00:19:42,559 we want you only to release as few silver eagles 368 00:19:42,559 --> 00:19:48,160 as you possibly can to hold back public outcry. And 369 00:19:48,599 --> 00:19:51,160 in all of twenty twenty, twenty twenty one, twenty twenty two, 370 00:19:51,319 --> 00:19:53,599 twenty twenty three, most of it the US MINT was 371 00:19:53,640 --> 00:19:57,880 the model of inefficiency, where I could import coins from Australia, 372 00:19:58,039 --> 00:20:02,440 South Africa, United Kingdom at fractions of the price of 373 00:20:02,759 --> 00:20:05,319 silver eagles, which we were buying back from the public 374 00:20:05,359 --> 00:20:08,839 at eleven bucks over spot, twelve bucks over spot selling 375 00:20:08,880 --> 00:20:13,920 for thirteen overspot or fourteen overspot. Massive premiums, massive spreads, 376 00:20:14,000 --> 00:20:17,079 not enough silver to go around. And he said he 377 00:20:17,160 --> 00:20:19,000 was told to do that from his superiors. Well, who 378 00:20:19,039 --> 00:20:20,839 would his superior be. That'd be Janet Yellen. 379 00:20:21,279 --> 00:20:23,240 Speaker 3: Yeah, the Secretary of the treasure. 380 00:20:22,960 --> 00:20:25,240 Speaker 2: Right And so Janet said, you know, just as few 381 00:20:25,279 --> 00:20:28,160 as possible. This went on for three years. He said, 382 00:20:28,160 --> 00:20:32,079 you know, before I was working for the MINT, I 383 00:20:32,119 --> 00:20:35,119 was on the supply side. I was an authorized purchaser 384 00:20:35,200 --> 00:20:37,440 for one of the big companies, and I know how 385 00:20:37,480 --> 00:20:39,440 this side works. And they came to us at the 386 00:20:39,559 --> 00:20:41,519 end of last year. At the time, it would have 387 00:20:41,519 --> 00:20:43,960 been twenty twenty one. I probably are twenty twenty two 388 00:20:44,000 --> 00:20:46,680 he was talking about, and he said, we'll take another 389 00:20:46,759 --> 00:20:49,200 thirty six million, or they said we'll take another thirty 390 00:20:49,200 --> 00:20:52,000 six million coins, and we gave him like another twelve million. 391 00:20:52,400 --> 00:20:54,559 The point of it is is that the US MINT 392 00:20:54,599 --> 00:20:56,960 is supposed to issue as many silver eagles as is 393 00:20:56,960 --> 00:21:00,839 demanded by public. It's in the chartered law, and they 394 00:21:00,920 --> 00:21:02,160 didn't one hundred percent. 395 00:21:02,160 --> 00:21:02,559 Speaker 3: They didn't. 396 00:21:02,559 --> 00:21:06,519 Speaker 2: So were they Are they stockpiling silver? Were they putting 397 00:21:06,559 --> 00:21:09,880 it away and viewing it as strategic? And when you 398 00:21:09,920 --> 00:21:13,559 look at at the goal that went missing, uh, from 399 00:21:13,599 --> 00:21:16,359 Saddam Hussein and from Kadafi? Where did all of that 400 00:21:16,400 --> 00:21:19,799 gold and silver? And what about the twelve billion that 401 00:21:19,799 --> 00:21:22,759 that the Ukraine sold to fund the war? My point 402 00:21:22,880 --> 00:21:25,119 is is that we don't update any of these numbers 403 00:21:25,200 --> 00:21:27,119 gold and silver. But I will tell you they, in 404 00:21:27,160 --> 00:21:30,200 my mind carry the military industrial complex is probably the 405 00:21:30,200 --> 00:21:31,160 ones pulling the string. 406 00:21:31,839 --> 00:21:35,720 Speaker 3: Uh not not Biden? And sure everything right. 407 00:21:35,759 --> 00:21:38,400 Speaker 2: And so if you need silver to make these weapons 408 00:21:38,440 --> 00:21:42,799 and to make high tech aerospace and weaponry and even 409 00:21:42,920 --> 00:21:45,319 you know, even things like you know, nuclear submarines, you 410 00:21:45,359 --> 00:21:48,200 need lots of silver. You have to keep the price 411 00:21:48,279 --> 00:21:51,599 down or very quickly you end up in trouble. I mean, 412 00:21:51,720 --> 00:21:54,799 and maybe it is a conspiracy, maybe I am off base, 413 00:21:54,920 --> 00:21:56,799 but when you see them take it out of the 414 00:21:56,799 --> 00:22:01,160 supply demand numbers, and when you see seven Western banks 415 00:22:01,160 --> 00:22:05,359 shorting a commodity that is globally demanded and running out 416 00:22:05,400 --> 00:22:09,599 of availability. In terms of its geologic footprint, it's at 417 00:22:09,599 --> 00:22:12,519 a seven to one ratio right now, meaning seven ounces 418 00:22:12,559 --> 00:22:15,160 of silver for every one ounce of gold mine. It 419 00:22:15,240 --> 00:22:17,839 was sixteen to one for five thousand years. So it's 420 00:22:17,880 --> 00:22:21,880 decreasing in nature really at the same time it's accelerating 421 00:22:21,920 --> 00:22:23,920 and its uses take military out of it. You have 422 00:22:23,960 --> 00:22:26,960 green and digital applications and ed copious amounts of it. 423 00:22:27,599 --> 00:22:30,880 You know, this green new deal. Without silver, you're in trouble. 424 00:22:30,920 --> 00:22:35,079 And of course the new Samsung battery. As someone who 425 00:22:35,319 --> 00:22:37,599 you know, I think you might drive at Tesla and 426 00:22:37,640 --> 00:22:40,759 now they're talking about state. Yeah, they're talking about these 427 00:22:40,759 --> 00:22:43,480 new batteries that will charge in nine minutes and will 428 00:22:44,119 --> 00:22:47,079 you know, go like six hundred miles or whatever it is, 429 00:22:47,160 --> 00:22:50,880 And that's a game changer. But they will take over 430 00:22:50,960 --> 00:22:55,359 a kilo of silver per car, And so, you know, 431 00:22:56,240 --> 00:22:57,599 is a conspiracy? 432 00:22:57,680 --> 00:22:59,559 Speaker 3: I don't know, but I do know that there was 433 00:22:59,599 --> 00:23:00,039 a whole. 434 00:23:00,000 --> 00:23:03,720 Speaker 2: Disortium of companies in Canada that have petitioned the Canadian 435 00:23:03,759 --> 00:23:07,799 government to reclassify silver as a strategic metal. In my mind, 436 00:23:07,799 --> 00:23:10,599 there on to something and we ought to do the 437 00:23:10,640 --> 00:23:12,839 same thing too. Maybe we have we just haven't been 438 00:23:12,839 --> 00:23:15,720 honest about it and instead are doing the shenanigans like 439 00:23:15,759 --> 00:23:19,799 this in order to fund the ever, ever increasing war 440 00:23:19,960 --> 00:23:21,799 drum that we see all around the world. 441 00:23:22,440 --> 00:23:26,200 Speaker 4: Yeah, well it's definitely beating loudly now, that's for sure. 442 00:23:27,519 --> 00:23:31,599 You know, it's hard to know. It's kind of like 443 00:23:32,559 --> 00:23:35,160 going to have to connect the dots after it happens, 444 00:23:35,559 --> 00:23:38,799 because we're not able to connect the dots as it happens. 445 00:23:39,079 --> 00:23:42,839 We get some glimpses here and there, we get some indications, 446 00:23:43,119 --> 00:23:46,880 but we never really know for sure until the dam bursts. 447 00:23:47,319 --> 00:23:51,960 But clearly something isn't right. Why silver, of all the 448 00:23:52,000 --> 00:23:55,680 commodities in the world, is there that kind of short position. 449 00:23:55,960 --> 00:23:58,640 Is it just oh, we make so much money at it? 450 00:23:58,839 --> 00:24:03,680 And remember remember what happened to bear Stearns right, and 451 00:24:03,720 --> 00:24:06,720 then they had to hand off the shorts because they 452 00:24:06,720 --> 00:24:11,119 were gone. So it seems like something is a miss. Well, 453 00:24:11,119 --> 00:24:13,880 that's another video that people need to watch. That's probably 454 00:24:13,920 --> 00:24:17,240 the most important video I've ever watched in this industry, 455 00:24:17,279 --> 00:24:21,599 and that's Chris Marcus Arkadie Economics. His video with Bart Chilton, 456 00:24:22,079 --> 00:24:24,319 who was the former head of the CFTC, the Commodity 457 00:24:24,400 --> 00:24:28,680 Future Trading Commission the Commodity Police, where he admitted to 458 00:24:28,799 --> 00:24:31,759 Chris in an interview, he said, yeah, bear Stearns failed 459 00:24:31,759 --> 00:24:37,160 and we called we being Hank Paulson and Ben Bernanke 460 00:24:37,359 --> 00:24:40,279 called Jamie Diamond into the office and said we need 461 00:24:40,319 --> 00:24:43,079 you to take over bear Stern Short position. I think 462 00:24:43,119 --> 00:24:46,039 the way it happened was, hey, Jamie, it's great to 463 00:24:46,039 --> 00:24:49,920 see you. You are now the proud owner of bear 464 00:24:50,039 --> 00:24:53,400 Stern's silver short position, right, welcome to Wall Street. 465 00:24:53,440 --> 00:24:55,039 Speaker 2: Well, and that's pretty much the way it went. And 466 00:24:55,119 --> 00:24:57,400 Jamie said, well, listen, guys, I'll do it, but I 467 00:24:57,400 --> 00:25:01,960 don't really want it. I'll be in violation of position limits. Okay, 468 00:25:01,960 --> 00:25:04,279 that's fine. Just to get your house in order. You 469 00:25:04,319 --> 00:25:07,079 have like ninety days to do so, and all is good. 470 00:25:07,200 --> 00:25:09,079 While at the end of the ninety day period, he 471 00:25:09,160 --> 00:25:12,119 said he went into his superiors and said, well, Jamie 472 00:25:12,200 --> 00:25:14,880 didn't in fact didn't shorten his position. He's increased it. 473 00:25:14,920 --> 00:25:17,599 He's in violation of our agreement in antitrust law. They 474 00:25:17,599 --> 00:25:21,000 need to be prosecuted. And he said this on Chris's 475 00:25:21,039 --> 00:25:24,680 podcast and google it Chris Marcus Arcadia Economics Part childon 476 00:25:25,119 --> 00:25:28,279 he said he was told to back down that it 477 00:25:28,319 --> 00:25:33,119 was a political decision, whatever that means. And he died 478 00:25:33,599 --> 00:25:35,799 about a week later. And I'm not saying there's a 479 00:25:35,839 --> 00:25:36,720 coincidence there. 480 00:25:36,559 --> 00:25:38,440 Speaker 3: But he did. He died, and he admitted this. 481 00:25:38,359 --> 00:25:41,720 Speaker 2: In Chris's show. Maybe he was clearing his conscience. I 482 00:25:41,839 --> 00:25:45,359 don't know. But when you think of of JP Morgan 483 00:25:45,440 --> 00:25:47,920 receiving a nine hundred and twenty million dollar fine for 484 00:25:47,960 --> 00:25:50,759 suppressing the metals market, they're head trader Michael Noak, who 485 00:25:50,759 --> 00:25:53,200 I had lunch with in New York City a few 486 00:25:53,279 --> 00:25:56,559 years back. He didn't even know I was at the table. 487 00:25:56,599 --> 00:25:59,920 There were about twenty guys there, and he's in prison. 488 00:26:00,279 --> 00:26:04,799 And yet that year their medals desk, JP's metals desk 489 00:26:04,880 --> 00:26:07,119 made a billion dollars. They were fined nine hundred and 490 00:26:07,119 --> 00:26:09,799 twenty million, they get to keep the eighty million, and 491 00:26:09,880 --> 00:26:12,000 they're still allowed to be the custodian of the world's 492 00:26:12,039 --> 00:26:13,119 largest silver trust. 493 00:26:13,680 --> 00:26:14,720 Speaker 3: Something is wrong. 494 00:26:14,839 --> 00:26:17,079 Speaker 2: But when you think he was then told the back 495 00:26:17,119 --> 00:26:20,160 down was a political decision, And now think about what 496 00:26:20,200 --> 00:26:22,319 I was saying about suppressing the price of silver to 497 00:26:22,440 --> 00:26:27,200 fund military industrial complexes, acquisition and development of high tech weaponry. 498 00:26:27,599 --> 00:26:29,960 So this is a lot bigger than it just being 499 00:26:29,960 --> 00:26:34,000 a commodity that is used for solar panels. And there's 500 00:26:34,039 --> 00:26:36,079 a lot that goes on that we don't know about, 501 00:26:36,079 --> 00:26:38,559 but I will tell you this. Martha Stewart went to 502 00:26:38,599 --> 00:26:42,799 jail for insider trading and JP Morgan is handed the biggest, 503 00:26:43,400 --> 00:26:45,680 the biggest fine the Justice Department ever laid out, and 504 00:26:45,759 --> 00:26:47,799 yet they're still allowed to be this custodian of the 505 00:26:47,839 --> 00:26:50,839 of SLV talk about the filest guard in the henhouse 506 00:26:50,960 --> 00:26:54,240 in trust shaving. Well, that's the point. And I just 507 00:26:54,279 --> 00:26:57,480 think people when we talk about connecting the dots, it's 508 00:26:57,920 --> 00:26:59,960 you know, I've been doing this for four years publicly 509 00:27:00,160 --> 00:27:01,759 saying this is what I think a lot of it's 510 00:27:01,759 --> 00:27:04,559 come true, which is very scary, and I'm out here 511 00:27:04,599 --> 00:27:04,960 saying this. 512 00:27:05,039 --> 00:27:07,039 Speaker 3: It's too stupid to be stupid. Wake up. 513 00:27:07,599 --> 00:27:10,799 Speaker 2: And you know, maybe I'm wrong, maybe I'm stupid per 514 00:27:10,799 --> 00:27:12,799 saying it, but I will tell you this carried nothing 515 00:27:13,279 --> 00:27:16,559 I have ever heard would would explain why you have 516 00:27:16,680 --> 00:27:21,319 eight banks shorting a commodity like this that is in 517 00:27:21,519 --> 00:27:27,039 a massive you know, this is a shortage now going 518 00:27:27,079 --> 00:27:27,799 on three years. 519 00:27:27,799 --> 00:27:29,200 Speaker 3: This is a structural shortage. 520 00:27:29,200 --> 00:27:32,279 Speaker 2: It's not getting better in an asset that is, it's 521 00:27:32,319 --> 00:27:37,400 depleting in nature, it's increasing in industrial applications and monetary applications, 522 00:27:37,480 --> 00:27:39,240 and yet you have all these banks shorting it, with 523 00:27:39,599 --> 00:27:42,759 countries like India and China voraciously accumulated. 524 00:27:42,759 --> 00:27:44,640 Speaker 3: It seems as dumb as a mud wall to me. 525 00:27:45,119 --> 00:27:48,960 Speaker 4: Well, our government has never been the brightest, that's for sure, 526 00:27:49,559 --> 00:27:52,680 and they certainly haven't gotten smarter over the years. 527 00:27:53,160 --> 00:27:55,119 Speaker 3: So there and they're they have. 528 00:27:55,759 --> 00:28:00,279 Speaker 4: It's run by sociopaths, so they have no limits, no 529 00:28:00,440 --> 00:28:04,680 constraints to anything they do. So anything you're telling me 530 00:28:04,920 --> 00:28:08,119 would not surprise me. It's true. It seems more likely 531 00:28:08,160 --> 00:28:12,440 than not something is going on there. Something's amiss, something, 532 00:28:12,519 --> 00:28:16,200 doesn't they add out, you know, the biggest commodity market 533 00:28:16,200 --> 00:28:20,359 in the world energy, right, and the hedges out there 534 00:28:20,759 --> 00:28:23,519 are like mini school compared to this. 535 00:28:23,680 --> 00:28:24,480 Speaker 3: So that's the point. 536 00:28:24,720 --> 00:28:26,880 Speaker 2: That's that's the point in silver is such a small 537 00:28:26,920 --> 00:28:29,880 market why And I think that if it were one 538 00:28:30,000 --> 00:28:32,480 or two banks, fine, but eight banks holding down the 539 00:28:32,480 --> 00:28:36,359 price of the way that they are, it's just something 540 00:28:36,440 --> 00:28:38,440 is silly about all this. And like I said, when 541 00:28:38,440 --> 00:28:41,119 you see China flying around the world paying way more 542 00:28:41,160 --> 00:28:43,880 than the West will pay for unrefined silver and concentrate 543 00:28:44,279 --> 00:28:46,480 and sending it back and refining it there. That means 544 00:28:46,519 --> 00:28:49,839 all of that silver they're buying directly from the from 545 00:28:49,880 --> 00:28:53,680 the miners themselves isn't coming off of an exchange, and 546 00:28:53,720 --> 00:28:57,200 so the price isn't affected. And not to mention, how 547 00:28:57,200 --> 00:28:59,559 many people know, they're the second largest producer of silver 548 00:28:59,599 --> 00:29:04,519 in the world behind Mexico, and the largest producer of 549 00:29:04,559 --> 00:29:07,759 gold in the world. And they were always net exporters 550 00:29:07,799 --> 00:29:09,720 because of all the by product mining they do of 551 00:29:09,759 --> 00:29:12,799 other metals, and they would have tons of extra silver 552 00:29:12,839 --> 00:29:15,160 if they're smelters. That's now all being kept in house, 553 00:29:15,200 --> 00:29:18,279 and they are a net importer. I think Zolty and 554 00:29:18,359 --> 00:29:20,119 Posar would be the guy that I would like to 555 00:29:20,160 --> 00:29:23,079 have on your show if I were you and someday 556 00:29:23,319 --> 00:29:26,920 online doubt because he's talking about Bretton Wood's three he 557 00:29:27,039 --> 00:29:29,240 or she who has the commodity's wins, And I think 558 00:29:29,440 --> 00:29:31,839 China and India and the bricks nations are trying their 559 00:29:31,839 --> 00:29:34,319 best to show us that without. 560 00:29:34,039 --> 00:29:36,039 Speaker 4: Showing it to us. If you will, Yeah, what is 561 00:29:36,079 --> 00:29:39,160 Celeni say? Went in doubt to start a laurer right? 562 00:29:39,240 --> 00:29:41,640 Speaker 2: And he also says when people lose everything, they lose 563 00:29:41,680 --> 00:29:46,519 it is it? Well, Harry, I really do appreciate you, 564 00:29:46,519 --> 00:29:46,720 you know. 565 00:29:46,799 --> 00:29:48,559 Speaker 3: I know this was a little bit raw for our 566 00:29:48,599 --> 00:29:51,720 first first goal. We didn't have anything really to talk about, 567 00:29:52,039 --> 00:29:54,319 or I always got things glad to talk about. My 568 00:29:54,359 --> 00:29:56,000 wife tells me, and I never shut up. I can 569 00:29:56,039 --> 00:29:56,599 always go. 570 00:29:56,599 --> 00:29:59,480 Speaker 2: Just put a quarter in me, but I know, yeah, 571 00:29:59,559 --> 00:30:03,039 she should. I do appreciate you hooking me up like 572 00:30:03,119 --> 00:30:05,680 this and nourice. This will be number one of a gazillion, 573 00:30:06,039 --> 00:30:09,400 and I'll make sure that you're back again sometime soon, Joshua. 574 00:30:09,480 --> 00:30:12,319 Speaker 3: But thank you brother, anytime, eh, pleasure? Thank you. So 575 00:30:12,640 --> 00:30:14,759 that's it. We'll see you again next time. They give 576 00:30:14,839 --> 00:30:16,319 them your website. Oh that's right. 577 00:30:17,319 --> 00:30:20,599 Speaker 2: For any information, best to send an email to info 578 00:30:20,640 --> 00:30:23,359 at Miles Franklin dot com, where we will provide our 579 00:30:23,799 --> 00:30:26,000 priceless We keep close to the best one that is 580 00:30:26,119 --> 00:30:27,119 really tough to beat. 581 00:30:27,400 --> 00:30:29,920 Speaker 3: Any questions you've heard on this or anything else. 582 00:30:30,079 --> 00:30:33,400 Speaker 2: Info Atmiles Franklin dot com and we will be sure 583 00:30:33,400 --> 00:30:36,200 and with no obligations, send you what you're looking for. 584 00:30:36,240 --> 00:30:37,799 Speaker 3: If it's just a priceless that's great. 585 00:30:37,799 --> 00:30:40,480 Speaker 2: If you want to be contacted, put your phone number 586 00:30:40,519 --> 00:30:42,119 down and thanks for listening. 587 00:30:42,160 --> 00:30:43,000 Speaker 3: We'll see you next time. 588 00:30:43,519 --> 00:30:47,559 Speaker 4: Make sure you subscribe to the Miles Franklin newsletter because 589 00:30:47,599 --> 00:30:50,880 it's got the vital information that you can't live without. 590 00:30:51,119 --> 00:30:53,920 Speaker 3: This is number one. Won't be so rusty next time. 591 00:30:54,160 --> 00:30:57,119 Speaker 1: We're good, all right, all, thanks for listening to carry 592 00:30:57,160 --> 00:31:02,359 Lets's Financial Survival Network. You're so allution to today's trying times. 593 00:31:02,680 --> 00:31:06,839 For the latest, go to Financial Survivalnetwork dot com. Financial 594 00:31:06,920 --> 00:31:10,079 Survival Network now more than ever,