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Speaker 4: Yeah.

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Speaker 1: I mean bitcoin's looking nice, it's going up in reaction.

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I'm certainly not anti crypto. I'm just myself, from my experience,

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very pro precious metals. I like something tangible, So not

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against having bitcoin. It's just not a full replacement for

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gold and silver because it's not tangible, it doesn't do

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other things. But I mean, that's great if there's an

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open door here for an alternative to the dollar and

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an alternative currency in a different form of savings than

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what is normally controlled by the financial establishment, So I

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think that's great.

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Speaker 2: You are listening to Carrie Let's's Financial Survival Network, where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than ever.

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Speaker 3: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Carrie Luttz. Elections do have consequences,

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especially in the precious metals market. Day after the election,

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it's November, November sixth I can't believe we just lived

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through what we live through, but it's behind us. Everything's

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been fixed, inflations finished, the dead is okay, all of

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our problems are gone. Yeah, right, if you believe that one, Well,

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let's see. I've got a bridge I could sell you

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in Lower Manhattan. I have a whole portfolio of public projects.

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There's a tunnel down in Miami that's for sale as well,

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so you can clean up, put up some just jack

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up the tolls.

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Speaker 4: That's all.

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Speaker 3: Michael Aris is with us and now to discuss this,

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and it's a michel Any Financial group.

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Speaker 4: Michael, great to have you back on.

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Speaker 3: You know, I'm looking at the metals prices and I'm

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just kind of laughing. I thought this pullback was due

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before we got to twenty eight hundred and thirty five dollars,

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not after. But in the meantime, silver is trading down

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and according to Kitko, bucking a half lower and the

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gold is taking a real hit today, down seventy seven bucks.

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But nothing has changed, has it? Not?

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Speaker 4: Really? Carrie?

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Speaker 1: Now, like I was going to say, too, you're such

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a comedian too. Oh yeah, the debt's going to go away.

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Inflation has been fixed. Like you should you should be

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on a Netflix comedy special not doing a political and

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economic podcast.

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Speaker 5: I mean it just the material is great.

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Speaker 3: You're so run No, yeah, I'm will for weddings and

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bar mitzvahs too. Just just k k l at Carrie

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luds dot com and we will give you all the

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humor you need these uncertain trying times. Well, first, be

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surprised by the uh. I don't care about the merits

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of the candidates. That's it relevant, nothing to do with

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the situation you find yourself in, the country finds itself in.

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Speaker 4: But are you surprised that Trump prevailed.

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Speaker 1: I'm a little surprised that there wasn't more contention and

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that we knew about it on the night of the election.

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I'm really surprised that it wasn't drug out and that

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there weren't voting irregularities and counting that went on for days.

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I was fully expecting it would be like last time.

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I'm actually very surprised that it was settled and done

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last night. So that was interesting to me. And I

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think the markets had very much priced in one particular

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expectation and it was something different than they thought.

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Speaker 5: So, you know, we see stocks.

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Speaker 1: Up and metals down this morning, but in the big picture,

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the grand scheme of things, Carrie, it's not that much.

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Like when we're talking about gold and silver, it's kind

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of a blip on the radar.

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Speaker 3: You know.

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Speaker 1: You kind of said, oh, gold's taking a hit this morning,

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and it's like, yeah, for a one day sell off. Yes,

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And then when you zoom out and you look at

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it moving from you know, two thousand on up to

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twenty seven hundred, it's like, well, yeah, this is nothing.

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It's still in the same up trend. It's a normal pullback.

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We're on the lower end of this range.

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Speaker 5: So great.

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Speaker 1: Yeah, let's let there be a you know, market reaction

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to election news. Let them digest the news and do

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what it's going to do. Totally fine, and if it's

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a dip to buyon, then great, add more at these prices.

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Because we didn't fix inflation, we didn't get rid of

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the debt. Trump says he's going to pay off the

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debt and we're going to sell oil and all this stuff.

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But thirty five trillion, I mean, we'll see, we'll see

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if we can government spending.

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Speaker 3: How about if we the federal government owns forty five

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percent of California, it owns ninety percent of Nevada. It

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opens a huge courttion of every Western state out there. Utah.

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I mean I was looking at the percentage. I've known

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this for years. How about if we just sell off

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all that real estate that the government doesn't no, doesn't

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care about, and probably could pay off the national debt

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with a real estate sale.

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Speaker 1: It's like a reverse Louisiana purchase right there. Yeah, Louisiana.

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Speaker 4: What would you call it?

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Speaker 5: A Louisiana We'll give it back to France. It'll be

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a Louisiana recollection of the old territory.

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Speaker 3: Repatriation, Louisiana repatriation, or just a getting rid of the assets.

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Speaker 4: You know.

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Speaker 3: It's like when companies need to raids cash, or they

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got operations that are inefficient that they can't make money

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at that they want to get, you know, redeploy the capital.

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What did they do? You sell the stuff off and

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you take the cash you can get. It could be

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whole divisions that's going to say divestiture, could be the

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Louisiana devestment.

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Speaker 4: You know, you sell the stuff.

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Speaker 5: Well, but our government they're not going to do that.

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Speaker 4: They're in La La.

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Speaker 3: Land, like it's not doing any good. It's not doing

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anybody any good to forty five percent of California in

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federal hands other than the promoting massive forest fires.

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Speaker 5: Right, yeah, exactly.

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Speaker 1: Yeah, And the government's not going to make the right choices,

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the smart choices at this point.

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Speaker 5: It's too entrenched.

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Speaker 1: So, yeah, you've got Trump in there for his second term,

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but he's fighting an uphill battle like it was before,

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even though you know, you've got the Congress and the

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Court on his side. Hopefully he can get more done

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this time. But even Republicans were against him last time,

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so hopefully he has more more traction, more support this time.

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But you've still got an entrenched government machine that is

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used to spending other people's money and going into debt

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to spend more since they already spent all of other

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people's money, and to to you know, to get rid

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of that at this point for the interest payments, we

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have all the you know, locked in spending like Medicare,

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social Security there, there's no way to really rain in

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this behemoth easily or quickly. So it's still a matter

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of the fact that the Fed is printed too much

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money and the government has more debt than we can

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pay back, and other countries don't want to buy our

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treasuries anymore. And so Trump gives us some nice optimism

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here for the next few years, but it's still too

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big a problem to fix. And you know, this reaction

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in metals is kind of signifying. Yeah, it's a you know,

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digest the news. This wasn't what we expected. But at

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the same time, it's nothing out of the norm of

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this trend thereon. And there's still too much money printed,

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and medals still have to go hire to account for that,

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and that's that's not going to change.

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Speaker 4: Well, I think we.

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Speaker 3: Were just to sell off five trillion dollars worth of

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federal assets. I mean, the market would go nuts, and

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I'll bet that would affect precious metals. But I don't

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see it happening because where they going to sell all

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this stuff on eBay?

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Speaker 5: Yeah? Who's going to buy? And who do we want

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owning our land?

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Speaker 3: I mean it's well, if we broke off the forty

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five percent that the government owns and put it into

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another state, made it a libertarian state.

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Speaker 5: Right there, California, maybe just.

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Speaker 3: Anarchy, you know, I think the federal government could do that, right,

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I mean you might, Yeah, I guess you have to

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have a constitutional thing to approve a new statement and

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that ad start adding stars to the flag is really

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going to be a pain.

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Speaker 1: Yeah, yeah, it's it's been a while. I don't think

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they want to do that. We've got a nice grid there.

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To add one more, it's just going to throw it

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all off. And you know, anyone who's OCD is just

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going to bother them.

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Speaker 3: It'll be good for the flag manufacturers though, right, yep, yeah,

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all right, but yeah, and there's you know, there's some

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positives to this outcome too, because if it had been

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the other way with Harris, I mean she had said

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brought she'd brought up ideas like taxing unrealized gains in

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the market, and it's just like that's crazy.

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Speaker 1: That is absolutely crazy talk to think of taxing unrealized

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gains before you sell the asset. So she probably couldn't

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have passed that, It probably couldn't have got away with it,

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but that's where her thinking is going. That's the kind

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of thing she wants to do. So when we have

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there's still big problems, there's still problems he maybe can't

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fix overall, like the debt and inflation. But we're certainly

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not going to have worse problems like we could have

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had with more taxes, more regulation, potentially more wars. So

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maybe we have some some reprieve, some break for the

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next few years, but overall, the biggest problems we have

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that are caused by the Central Bank haven't been fixed

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and can't be easily fixed.

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Speaker 3: So yeah, exactly, And yeah, look it just would have

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speeded up the downfall of the dollar. But look, I mean, hey,

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I'm over sixty five. I get some social Security a

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little bit to me and my Medicare, but pretty soon

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nobody's going to take Medicare, and my social security benefits

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will be inflated out of existence anyway, So what am

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I supposed to do here?

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Speaker 4: A Michael.

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Speaker 1: Yeah, Yeah, it's well, you know, with the metal, they're

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still an inflation hedge. And if you really zoom out

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and look at it, you know, a year ago we're

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talking about just barely under two thousand dollars gold. So

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a year ago we've got like nineteen hundred something gold,

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and now it's still twenty six hundred, Like it's not

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even close to giving everything back or crashing or coming

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back down. And silver too, you know, you know, four

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or five percent dropping silver is not atypical for silver.

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It's a more volatile metal. It can do that in

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a day. We've seen it several times since it breached thirty.

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But again a year ago, where were we carry a

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year ago looks like twenty two, twenty three, So we're

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still ten dollars higher. We're still forty percent higher than

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we were a year ago. And silver is still holding

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above thirty. We've still got this breakout pattern a pullback,

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but it's still got a lot of support at thirty

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one thirty two and it's still holding that. So it's

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just like it's just going to take its time working

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its way out. And everyone that's held silver for a

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long time, you know it's volatile. You know you've got

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these big up and down moves, but at the same time,

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ultimately see really big percentage performances, and you know, it's

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doubled since it was in the mid teens a few

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years ago. So yeah, now it's not like it's trying

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to give that back completely and not like there's any

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reason for it to do.

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Speaker 4: So, yeah, exactly exactly. Couldn't agree with you more.

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Speaker 3: And yeah, so precious metals is really the only defense

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you have cryptocurrencies. How you're feeling about cryptos after the election,

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because Trump is the first you know, yeah, positive crypto

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supporter in the White House.

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Speaker 1: Yeah yeah, I mean bitcoin's looking nice, it's going up

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in reaction. I'm certainly not anti crypto. I'm just myself,

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from my experience, very pro precious metals. I like something tangible,

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So not against having bitcoin. It's just not a full

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replacement for gold and silver because it's not tangible, it

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doesn't do other things. But I mean that's great if

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there's you know, an open door here for an alternative

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to the dollar and an alternative currency in a different

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form of safe than what is normally controlled by the

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financial establishment. So I think that's great. You know, gold

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does that, Bitcoin does that. They do it in different ways,

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and you can't really substitute one for the other. You

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can't send gold across the world in ten seconds. But

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also you can't hold bitcoin in your hand and have

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it be one hundred percent private and never accessible to

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a computer. So they both have their advantages. But it's

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interesting to see what are the alternatives still going up

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and doing well?

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Speaker 3: Yeah, well, looking at the price of bitcoin right now,

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Bitcoin's up to almost seventy five thousand. Seventy five thousand

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not a particularly real technical mark, but round, big, round

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numbers like that are psychological. It breaks seventy five thousand, Yeah,

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it could easily go to one hundred, couldn't it.

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Speaker 5: It could.

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Speaker 1: Yeah, and it's still a new high. I mean, it

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hit somewhere between seventy three and seventy four before you

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kind of touch that the other week. So now it

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is pushing up to a new.

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Speaker 5: All time high.

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Speaker 1: So and just like gold, gold kept going up making

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new all time highs. It hit like twenty seven eighty

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the other day, so it just kept setting new highs.

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And so now here's a new high after the election,

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and this big move up, here's a new high in bitcoin.

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So yeah, can this be a breakout? It could still

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you know, pull back and consolidate after breaking out to

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a new high, but yeah, I could. I could see

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it going higher from here if it's if it's now

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you know, breaking above this big consolidation. Really since what

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was that since earlier this year, since March, the big

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consolidation in bitcoin now breaking above that, So I think

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that's really positive.

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Speaker 3: All right, Well, hey we agree, there no question as

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about it I mean, it's really kind of fascinating to

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watch these things go And who would think that one day,

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you know, gold is going down getting slammed based on

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an election, and bitcoin is going up based on an election.

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Speaker 4: Yeah.

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Speaker 1: Well, And another thing to keep in mind two carry

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is when we think about when Trump was first president

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in twenty sixteen and had his first term, gold actually

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went up three of the four years he was in office.

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It went down the first year, and it went up

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the next three years, and then really broke out in

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twenty nineteen right before COVID and took off and went.

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Speaker 5: To two thousand again.

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Speaker 1: So Trump being in office is not necessarily negative for

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the medals. The first time, for the most part, it

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was positive for the medals. So we'll see how this

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one goes and see if he does things differently as

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far as the people he has around him and the

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type of things he's able to pull off if he

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wants to close the border whatever, We'll see how effective

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he is. But it's still not a not a negative

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for the medals because it wasn't the first time.

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Speaker 3: So what do you think the outcome of closing down

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the border. Having Elon Musk in charge of government efficiency,

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which yeah, he is always a joke. It's like government worker,

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it's a oxymorn, you know. Yeah, but yeah with us.

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But if he cuts government expenditures like he cuts costs

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at a Tesla factory, yeah, we could be in for

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some interesting times, couldn't we.

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Speaker 1: I mean that that would cause a lot of convulsions

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I think in the in the market. That's that's a

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pretty big deal because you have to think that that's

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going to be really good in the long term and

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really painful in the short term. If we have to

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really go through and revamp government and cut spending and

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cut cost and cut all the waste and extra jobs

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that are there. I mean, government has been the biggest

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job growth aspect in the last year. When when the

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when they keep manipulating the payroll numbers and employment goes down,

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governments has been the biggest addition, the biggest employer, you know,

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the biggest addition to that number has been government. So

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if we're talking about you know, actually making it more efficient.

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Speaker 5: Cutting jobs, cutting spending, all of.

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Speaker 1: This, it's it's what is needed to get on a

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better path long term, but it's going to be painful

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in the short term. So it's that's a thing like

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if if Trump does what he says he's going to

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do and keeps his promises, great, but it's really good

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for the long term and really painful in the short term.

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Speaker 5: So it's it's it's not going to be easy to

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go through that, and the market's not going to like it.

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Speaker 1: If there's less government spending, then yeah, I think I'll

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like it. Yeah what about well, well like it in

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certain ways, but the market's not going to like it,

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so we have to be ready for that.

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Speaker 3: What about eliminating the income tax and going to a

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consumption tax and tariffs?

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Speaker 1: Yeah, I mean that's that's in my mind, tough to

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pull off and tough for us to transition to something

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like that. I think ultimately it's better, but really tough

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to get to that point. And then you know what

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what happens to prices. We're used to cheap prices at Walmart.

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So if we have a consumption tax and we have tariffs,

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it's not going to be what everyone's used to where

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they consume and you know, buy whatever they want and

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it's you know, normally very cheap stuff, and the dollar

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goes a long way. We've had more inflation the last

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few years, that's.

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Speaker 5: Kind of going away.

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Speaker 1: But yeah, I mean you have that kind of change

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that you're talking about. It's a major social adjustment for

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people in their standard of living and their spending, which

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is probably needed, but I don't know that one might

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be too painful for anyone to go through and be

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willing to accept. So yeah, that's a tough one too

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to see what he's able to pull off and how

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bad the transition is going to be to get to

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a better place. That's what's going to be interesting here,

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and that's why we still need insurance for our money.

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That's why it's not like everything's been fixed yet. It's

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just not that simple.

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Speaker 3: Well, at least at least the business people have to be,

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by nature problem solvers. Maybe not in big corporations, but

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you got your own business your problem solvers, so at

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least maybe the problem will be acknowledged and addressed, just

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like the concept of making America healthy again. Horror, our

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state of health is as a nation, and it's really

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it's really like to me, one of the major issues

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that we need to be paying more attention to.

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Speaker 4: Yeah.

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Speaker 5: Absolutely, Yeah, it was amazing. He said that in the speech.

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Speaker 1: Last night that he was going to unleash Bobby Kennedy

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on the pharmaceutical company like that Dracula.

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Speaker 3: Man, they've got to get their crosses out there. And

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silver bullets. Man, that's like a rare wolf.

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Speaker 5: It's going to be interesting.

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Speaker 1: It's going to be very interesting this time around, see

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how this plays out and and if if it really

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is a free for all like that where he goes

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after you know people like that are even you know,

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bad actors from previous times that have accused him, falsely,

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impeached him, whatever, Like is he is he gonna is

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he going to be a tack dog? Now, it's going

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to be interesting.

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Speaker 3: Well, uh, you want to break you want to make

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an omelet? Got to break some eggs, right.

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Speaker 1: Yeah, Well we need to we need to to get

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this country back on the right track.

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Speaker 5: So hey, fully hopefully volunt to you.

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Speaker 3: What about like just the because we had the Chevron decision,

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I'm getting to talking about legal matters. Basically it's a

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free part rule. That was a bad decision and no

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longer are government entities entitled to deference a presumption that

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what they're doing is authorized.

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Speaker 4: By law and legal Yeah, and.

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Speaker 3: Just on the basis of Chevron, you could cut back

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probably two thirds of the federal bureaucracy because you have

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this thing called regulatory creep. You created a regulatory agency

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and before you know it, they're meddling in things that

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the original drafters of the statute never even knew existed.

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Could be interesting, Yeah, very much though, be interesting.

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Speaker 1: Yeah, yeah, Like like you were talking about it, Elon

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gets in there and actually does a you know, in

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accountability and waste office and just you know, starts going

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and going to town on it, with with this, with

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the with the hacksaw hacking limbs off. Yes, it could,

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this could be. It's gonna be interesting. It could be

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very interesting. I'd love to see it.

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Speaker 4: You know.

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Speaker 3: It's like a friend of mine is uncle was a

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bit of a whack job, but he got a job

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working for the Post Office in an executive position, and

401
00:20:24,319 --> 00:20:27,079
he tried to reform it and tried to streamline it

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and do all this. He lasted six months.

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Speaker 2: Uh.

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Speaker 4: I think Elon might might not last that long.

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Speaker 3: There'll be a revolution because they don't want efficiency, they

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don't want to stop spending money. They only want to

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spend more and more. Well, that's a story for another day, Mike,

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00:20:45,000 --> 00:20:47,160
just tell us where do we find with you?

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00:20:47,680 --> 00:20:48,119
Speaker 4: Find you?

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00:20:48,359 --> 00:20:50,720
Speaker 3: How do we connect with you on the web? All

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00:20:50,720 --> 00:20:51,480
that good stuff?

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00:20:51,880 --> 00:20:55,599
Speaker 1: Yeah, yeah, Well at mcelvaaney Precious Metals. If anyone's interested

413
00:20:55,640 --> 00:20:57,680
in gold and silver and well, we'll help do it

414
00:20:57,680 --> 00:21:01,279
strategically and and help you benefit most from it. You

415
00:21:01,319 --> 00:21:05,279
can go to mcilvany dot com, forward slash Michael or

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00:21:05,359 --> 00:21:09,119
call nine seven zero four five nine four six.

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00:21:09,079 --> 00:21:11,960
Speaker 5: One one caller text me and I'm happy to advise.

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Speaker 3: Excellent and the link is in the show notes this

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00:21:14,640 --> 00:21:18,640
interview on Financial Survival Network dot com. Please sign up

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00:21:18,640 --> 00:21:22,559
for your free newsletter, like over fifty thousand of other

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00:21:23,119 --> 00:21:28,759
FSN members have done. And question for Mike myself kl

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00:21:28,839 --> 00:21:30,480
at Carrie LUTs dot com.

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00:21:30,519 --> 00:21:32,519
Speaker 4: Always a pleasure, Mike, thanks for stopping by.

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00:21:32,759 --> 00:21:35,400
Speaker 5: Yeah, thanks, Gerry enjoying the conversation so I appreciate it.

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Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network your

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00:21:39,839 --> 00:21:43,640
solution to today's trying times. For the latest, go to

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00:21:43,799 --> 00:21:49,720
Financial Survivalnetwork dot com. Financial Survival Network now more than

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