Speaker 4: Yeah.
Speaker 1: I mean bitcoin's looking nice, it's going up in reaction.
I'm certainly not anti crypto. I'm just myself, from my experience,
very pro precious metals. I like something tangible, So not
against having bitcoin. It's just not a full replacement for
gold and silver because it's not tangible, it doesn't do
other things. But I mean, that's great if there's an
open door here for an alternative to the dollar and
an alternative currency in a different form of savings than
what is normally controlled by the financial establishment, So I
think that's great.
Speaker 2: You are listening to Carrie Let's's Financial Survival Network, where
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Speaker 3: And welcome you are listening to and watching the Financial
Survival Network. I'm your host, Carrie Luttz. Elections do have consequences,
especially in the precious metals market. Day after the election,
it's November, November sixth I can't believe we just lived
through what we live through, but it's behind us. Everything's
been fixed, inflations finished, the dead is okay, all of
our problems are gone. Yeah, right, if you believe that one, Well,
let's see. I've got a bridge I could sell you
in Lower Manhattan. I have a whole portfolio of public projects.
There's a tunnel down in Miami that's for sale as well,
so you can clean up, put up some just jack
up the tolls.
Speaker 4: That's all.
Speaker 3: Michael Aris is with us and now to discuss this,
and it's a michel Any Financial group.
Speaker 4: Michael, great to have you back on.
Speaker 3: You know, I'm looking at the metals prices and I'm
just kind of laughing. I thought this pullback was due
before we got to twenty eight hundred and thirty five dollars,
not after. But in the meantime, silver is trading down
and according to Kitko, bucking a half lower and the
gold is taking a real hit today, down seventy seven bucks.
But nothing has changed, has it? Not?
Speaker 4: Really? Carrie?
Speaker 1: Now, like I was going to say, too, you're such
a comedian too. Oh yeah, the debt's going to go away.
Inflation has been fixed. Like you should you should be
on a Netflix comedy special not doing a political and
economic podcast.
Speaker 5: I mean it just the material is great.
Speaker 3: You're so run No, yeah, I'm will for weddings and
bar mitzvahs too. Just just k k l at Carrie
luds dot com and we will give you all the
humor you need these uncertain trying times. Well, first, be
surprised by the uh. I don't care about the merits
of the candidates. That's it relevant, nothing to do with
the situation you find yourself in, the country finds itself in.
Speaker 4: But are you surprised that Trump prevailed.
Speaker 1: I'm a little surprised that there wasn't more contention and
that we knew about it on the night of the election.
I'm really surprised that it wasn't drug out and that
there weren't voting irregularities and counting that went on for days.
I was fully expecting it would be like last time.
I'm actually very surprised that it was settled and done
last night. So that was interesting to me. And I
think the markets had very much priced in one particular
expectation and it was something different than they thought.
Speaker 5: So, you know, we see stocks.
Speaker 1: Up and metals down this morning, but in the big picture,
the grand scheme of things, Carrie, it's not that much.
Like when we're talking about gold and silver, it's kind
of a blip on the radar.
Speaker 3: You know.
Speaker 1: You kind of said, oh, gold's taking a hit this morning,
and it's like, yeah, for a one day sell off. Yes,
And then when you zoom out and you look at
it moving from you know, two thousand on up to
twenty seven hundred, it's like, well, yeah, this is nothing.
It's still in the same up trend. It's a normal pullback.
We're on the lower end of this range.
Speaker 5: So great.
Speaker 1: Yeah, let's let there be a you know, market reaction
to election news. Let them digest the news and do
what it's going to do. Totally fine, and if it's
a dip to buyon, then great, add more at these prices.
Because we didn't fix inflation, we didn't get rid of
the debt. Trump says he's going to pay off the
debt and we're going to sell oil and all this stuff.
But thirty five trillion, I mean, we'll see, we'll see
if we can government spending.
Speaker 3: How about if we the federal government owns forty five
percent of California, it owns ninety percent of Nevada. It
opens a huge courttion of every Western state out there. Utah.
I mean I was looking at the percentage. I've known
this for years. How about if we just sell off
all that real estate that the government doesn't no, doesn't
care about, and probably could pay off the national debt
with a real estate sale.
Speaker 1: It's like a reverse Louisiana purchase right there. Yeah, Louisiana.
Speaker 4: What would you call it?
Speaker 5: A Louisiana We'll give it back to France. It'll be
a Louisiana recollection of the old territory.
Speaker 3: Repatriation, Louisiana repatriation, or just a getting rid of the assets.
Speaker 4: You know.
Speaker 3: It's like when companies need to raids cash, or they
got operations that are inefficient that they can't make money
at that they want to get, you know, redeploy the capital.
What did they do? You sell the stuff off and
you take the cash you can get. It could be
whole divisions that's going to say divestiture, could be the
Louisiana devestment.
Speaker 4: You know, you sell the stuff.
Speaker 5: Well, but our government they're not going to do that.
Speaker 4: They're in La La.
Speaker 3: Land, like it's not doing any good. It's not doing
anybody any good to forty five percent of California in
federal hands other than the promoting massive forest fires.
Speaker 5: Right, yeah, exactly.
Speaker 1: Yeah, And the government's not going to make the right choices,
the smart choices at this point.
Speaker 5: It's too entrenched.
Speaker 1: So, yeah, you've got Trump in there for his second term,
but he's fighting an uphill battle like it was before,
even though you know, you've got the Congress and the
Court on his side. Hopefully he can get more done
this time. But even Republicans were against him last time,
so hopefully he has more more traction, more support this time.
But you've still got an entrenched government machine that is
used to spending other people's money and going into debt
to spend more since they already spent all of other
people's money, and to to you know, to get rid
of that at this point for the interest payments, we
have all the you know, locked in spending like Medicare,
social Security there, there's no way to really rain in
this behemoth easily or quickly. So it's still a matter
of the fact that the Fed is printed too much
money and the government has more debt than we can
pay back, and other countries don't want to buy our
treasuries anymore. And so Trump gives us some nice optimism
here for the next few years, but it's still too
big a problem to fix. And you know, this reaction
in metals is kind of signifying. Yeah, it's a you know,
digest the news. This wasn't what we expected. But at
the same time, it's nothing out of the norm of
this trend thereon. And there's still too much money printed,
and medals still have to go hire to account for that,
and that's that's not going to change.
Speaker 4: Well, I think we.
Speaker 3: Were just to sell off five trillion dollars worth of
federal assets. I mean, the market would go nuts, and
I'll bet that would affect precious metals. But I don't
see it happening because where they going to sell all
this stuff on eBay?
Speaker 5: Yeah? Who's going to buy? And who do we want
owning our land?
Speaker 3: I mean it's well, if we broke off the forty
five percent that the government owns and put it into
another state, made it a libertarian state.
Speaker 5: Right there, California, maybe just.
Speaker 3: Anarchy, you know, I think the federal government could do that, right,
I mean you might, Yeah, I guess you have to
have a constitutional thing to approve a new statement and
that ad start adding stars to the flag is really
going to be a pain.
Speaker 1: Yeah, yeah, it's it's been a while. I don't think
they want to do that. We've got a nice grid there.
To add one more, it's just going to throw it
all off. And you know, anyone who's OCD is just
going to bother them.
Speaker 3: It'll be good for the flag manufacturers though, right, yep, yeah,
all right, but yeah, and there's you know, there's some
positives to this outcome too, because if it had been
the other way with Harris, I mean she had said
brought she'd brought up ideas like taxing unrealized gains in
the market, and it's just like that's crazy.
Speaker 1: That is absolutely crazy talk to think of taxing unrealized
gains before you sell the asset. So she probably couldn't
have passed that, It probably couldn't have got away with it,
but that's where her thinking is going. That's the kind
of thing she wants to do. So when we have
there's still big problems, there's still problems he maybe can't
fix overall, like the debt and inflation. But we're certainly
not going to have worse problems like we could have
had with more taxes, more regulation, potentially more wars. So
maybe we have some some reprieve, some break for the
next few years, but overall, the biggest problems we have
that are caused by the Central Bank haven't been fixed
and can't be easily fixed.
Speaker 3: So yeah, exactly, And yeah, look it just would have
speeded up the downfall of the dollar. But look, I mean, hey,
I'm over sixty five. I get some social Security a
little bit to me and my Medicare, but pretty soon
nobody's going to take Medicare, and my social security benefits
will be inflated out of existence anyway, So what am
I supposed to do here?
Speaker 4: A Michael.
Speaker 1: Yeah, Yeah, it's well, you know, with the metal, they're
still an inflation hedge. And if you really zoom out
and look at it, you know, a year ago we're
talking about just barely under two thousand dollars gold. So
a year ago we've got like nineteen hundred something gold,
and now it's still twenty six hundred, Like it's not
even close to giving everything back or crashing or coming
back down. And silver too, you know, you know, four
or five percent dropping silver is not atypical for silver.
It's a more volatile metal. It can do that in
a day. We've seen it several times since it breached thirty.
But again a year ago, where were we carry a
year ago looks like twenty two, twenty three, So we're
still ten dollars higher. We're still forty percent higher than
we were a year ago. And silver is still holding
above thirty. We've still got this breakout pattern a pullback,
but it's still got a lot of support at thirty
one thirty two and it's still holding that. So it's
just like it's just going to take its time working
its way out. And everyone that's held silver for a
long time, you know it's volatile. You know you've got
these big up and down moves, but at the same time,
ultimately see really big percentage performances, and you know, it's
doubled since it was in the mid teens a few
years ago. So yeah, now it's not like it's trying
to give that back completely and not like there's any
reason for it to do.
Speaker 4: So, yeah, exactly exactly. Couldn't agree with you more.
Speaker 3: And yeah, so precious metals is really the only defense
you have cryptocurrencies. How you're feeling about cryptos after the election,
because Trump is the first you know, yeah, positive crypto
supporter in the White House.
Speaker 1: Yeah yeah, I mean bitcoin's looking nice, it's going up
in reaction. I'm certainly not anti crypto. I'm just myself,
from my experience, very pro precious metals. I like something tangible,
So not against having bitcoin. It's just not a full
replacement for gold and silver because it's not tangible, it
doesn't do other things. But I mean that's great if
there's you know, an open door here for an alternative
to the dollar and an alternative currency in a different
form of safe than what is normally controlled by the
financial establishment. So I think that's great. You know, gold
does that, Bitcoin does that. They do it in different ways,
and you can't really substitute one for the other. You
can't send gold across the world in ten seconds. But
also you can't hold bitcoin in your hand and have
it be one hundred percent private and never accessible to
a computer. So they both have their advantages. But it's
interesting to see what are the alternatives still going up
and doing well?
Speaker 3: Yeah, well, looking at the price of bitcoin right now,
Bitcoin's up to almost seventy five thousand. Seventy five thousand
not a particularly real technical mark, but round, big, round
numbers like that are psychological. It breaks seventy five thousand, Yeah,
it could easily go to one hundred, couldn't it.
Speaker 5: It could.
Speaker 1: Yeah, and it's still a new high. I mean, it
hit somewhere between seventy three and seventy four before you
kind of touch that the other week. So now it
is pushing up to a new.
Speaker 5: All time high.
Speaker 1: So and just like gold, gold kept going up making
new all time highs. It hit like twenty seven eighty
the other day, so it just kept setting new highs.
And so now here's a new high after the election,
and this big move up, here's a new high in bitcoin.
So yeah, can this be a breakout? It could still
you know, pull back and consolidate after breaking out to
a new high, but yeah, I could. I could see
it going higher from here if it's if it's now
you know, breaking above this big consolidation. Really since what
was that since earlier this year, since March, the big
consolidation in bitcoin now breaking above that, So I think
that's really positive.
Speaker 3: All right, Well, hey we agree, there no question as
about it I mean, it's really kind of fascinating to
watch these things go And who would think that one day,
you know, gold is going down getting slammed based on
an election, and bitcoin is going up based on an election.
Speaker 4: Yeah.
Speaker 1: Well, And another thing to keep in mind two carry
is when we think about when Trump was first president
in twenty sixteen and had his first term, gold actually
went up three of the four years he was in office.
It went down the first year, and it went up
the next three years, and then really broke out in
twenty nineteen right before COVID and took off and went.
Speaker 5: To two thousand again.
Speaker 1: So Trump being in office is not necessarily negative for
the medals. The first time, for the most part, it
was positive for the medals. So we'll see how this
one goes and see if he does things differently as
far as the people he has around him and the
type of things he's able to pull off if he
wants to close the border whatever, We'll see how effective
he is. But it's still not a not a negative
for the medals because it wasn't the first time.
Speaker 3: So what do you think the outcome of closing down
the border. Having Elon Musk in charge of government efficiency,
which yeah, he is always a joke. It's like government worker,
it's a oxymorn, you know. Yeah, but yeah with us.
But if he cuts government expenditures like he cuts costs
at a Tesla factory, yeah, we could be in for
some interesting times, couldn't we.
Speaker 1: I mean that that would cause a lot of convulsions
I think in the in the market. That's that's a
pretty big deal because you have to think that that's
going to be really good in the long term and
really painful in the short term. If we have to
really go through and revamp government and cut spending and
cut cost and cut all the waste and extra jobs
that are there. I mean, government has been the biggest
job growth aspect in the last year. When when the
when they keep manipulating the payroll numbers and employment goes down,
governments has been the biggest addition, the biggest employer, you know,
the biggest addition to that number has been government. So
if we're talking about you know, actually making it more efficient.
Speaker 5: Cutting jobs, cutting spending, all of.
Speaker 1: This, it's it's what is needed to get on a
better path long term, but it's going to be painful
in the short term. So it's that's a thing like
if if Trump does what he says he's going to
do and keeps his promises, great, but it's really good
for the long term and really painful in the short term.
Speaker 5: So it's it's it's not going to be easy to
go through that, and the market's not going to like it.
Speaker 1: If there's less government spending, then yeah, I think I'll
like it. Yeah what about well, well like it in
certain ways, but the market's not going to like it,
so we have to be ready for that.
Speaker 3: What about eliminating the income tax and going to a
consumption tax and tariffs?
Speaker 1: Yeah, I mean that's that's in my mind, tough to
pull off and tough for us to transition to something
like that. I think ultimately it's better, but really tough
to get to that point. And then you know what
what happens to prices. We're used to cheap prices at Walmart.
So if we have a consumption tax and we have tariffs,
it's not going to be what everyone's used to where
they consume and you know, buy whatever they want and
it's you know, normally very cheap stuff, and the dollar
goes a long way. We've had more inflation the last
few years, that's.
Speaker 5: Kind of going away.
Speaker 1: But yeah, I mean you have that kind of change
that you're talking about. It's a major social adjustment for
people in their standard of living and their spending, which
is probably needed, but I don't know that one might
be too painful for anyone to go through and be
willing to accept. So yeah, that's a tough one too
to see what he's able to pull off and how
bad the transition is going to be to get to
a better place. That's what's going to be interesting here,
and that's why we still need insurance for our money.
That's why it's not like everything's been fixed yet. It's
just not that simple.
Speaker 3: Well, at least at least the business people have to be,
by nature problem solvers. Maybe not in big corporations, but
you got your own business your problem solvers, so at
least maybe the problem will be acknowledged and addressed, just
like the concept of making America healthy again. Horror, our
state of health is as a nation, and it's really
it's really like to me, one of the major issues
that we need to be paying more attention to.
Speaker 4: Yeah.
Speaker 5: Absolutely, Yeah, it was amazing. He said that in the speech.
Speaker 1: Last night that he was going to unleash Bobby Kennedy
on the pharmaceutical company like that Dracula.
Speaker 3: Man, they've got to get their crosses out there. And
silver bullets. Man, that's like a rare wolf.
Speaker 5: It's going to be interesting.
Speaker 1: It's going to be very interesting this time around, see
how this plays out and and if if it really
is a free for all like that where he goes
after you know people like that are even you know,
bad actors from previous times that have accused him, falsely,
impeached him, whatever, Like is he is he gonna is
he going to be a tack dog? Now, it's going
to be interesting.
Speaker 3: Well, uh, you want to break you want to make
an omelet? Got to break some eggs, right.
Speaker 1: Yeah, Well we need to we need to to get
this country back on the right track.
Speaker 5: So hey, fully hopefully volunt to you.
Speaker 3: What about like just the because we had the Chevron decision,
I'm getting to talking about legal matters. Basically it's a
free part rule. That was a bad decision and no
longer are government entities entitled to deference a presumption that
what they're doing is authorized.
Speaker 4: By law and legal Yeah, and.
Speaker 3: Just on the basis of Chevron, you could cut back
probably two thirds of the federal bureaucracy because you have
this thing called regulatory creep. You created a regulatory agency
and before you know it, they're meddling in things that
the original drafters of the statute never even knew existed.
Could be interesting, Yeah, very much though, be interesting.
Speaker 1: Yeah, yeah, Like like you were talking about it, Elon
gets in there and actually does a you know, in
accountability and waste office and just you know, starts going
and going to town on it, with with this, with
the with the hacksaw hacking limbs off. Yes, it could,
this could be. It's gonna be interesting. It could be
very interesting. I'd love to see it.
Speaker 4: You know.
Speaker 3: It's like a friend of mine is uncle was a
bit of a whack job, but he got a job
working for the Post Office in an executive position, and
he tried to reform it and tried to streamline it
and do all this. He lasted six months.
Speaker 2: Uh.
Speaker 4: I think Elon might might not last that long.
Speaker 3: There'll be a revolution because they don't want efficiency, they
don't want to stop spending money. They only want to
spend more and more. Well, that's a story for another day, Mike,
just tell us where do we find with you?
Speaker 4: Find you?
Speaker 3: How do we connect with you on the web? All
that good stuff?
Speaker 1: Yeah, yeah, Well at mcelvaaney Precious Metals. If anyone's interested
in gold and silver and well, we'll help do it
strategically and and help you benefit most from it. You
can go to mcilvany dot com, forward slash Michael or
call nine seven zero four five nine four six.
Speaker 5: One one caller text me and I'm happy to advise.
Speaker 3: Excellent and the link is in the show notes this
interview on Financial Survival Network dot com. Please sign up
for your free newsletter, like over fifty thousand of other
FSN members have done. And question for Mike myself kl
at Carrie LUTs dot com.
Speaker 4: Always a pleasure, Mike, thanks for stopping by.
Speaker 5: Yeah, thanks, Gerry enjoying the conversation so I appreciate it.
Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network your
solution to today's trying times. For the latest, go to
Financial Survivalnetwork dot com. Financial Survival Network now more than
ever