Speaker 1: So for sure, and they got to have inflation, they
got to have more money to constantly be servicing all
of the build up of the debt. You know. And Carrie,
it's like this. You know, we all look at it
and say, hey, look at that gold is thirty four
hundred dollars per ounce. That's one way to look at it.
I mean, you look at it as gold versus a dollar.
But look at the dollar versus gold. The dollar is
depreciating versus gold. You know, gold's appreciating versus a dollar,
that's what we keep saying. But it's a dollar that's
depreciating against gold. You know, you fifty years ago it
only took thirty five dollars to buy an ounce of gold.
Speaker 2: You're listening to Carrie.
Speaker 3: Let's his Financial Survival Network where you get valuable information
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Speaker 2: And welcome you are listening to and watching the Financial
Survival Network. I'm your host, Aery lutz Well Craig kim
Key is with us Tfmetalsreport dot com. Make sure you
go there sign up, sign up for the for the
daily missive. And it's opportune that we're speaking with you now, Craig,
in light of what has happened in Gold the past
two days.
Speaker 1: Yeah, how about that, Carrie, it was you know, everybody is.
I think we all suffer from PTSD a little bit
in our sector, Carrie. You know, yes, we just expect
the rug to get pulled at any time.
Speaker 2: We expect, you.
Speaker 1: Know, some mass liquidation of futures contracts at three o'clock
in the morning, you know, that kind of stuff. And
there's you know, that's probably always going to be with us.
But after you know, Gold ran up whatever it was
two weeks weks ago, one hundred dollars a day, two
days in a row, got to thirty five ten intra
day on the futures contract and okay, yeah, you know,
at that point probably needed a little pullback. It had
gone up, had four one hundred dollars gains in the
course of about eleven days. So okay, so it's going
to pull back. But my goodness, Carrie, here came everybody
out of the woodwork. Oh yeah, it's a crowded trade.
As if you know, everybody suddenly owned gold or something.
You know, it's overbought. Okay, maybe the RSI got up
into the seventies, but I mean it wasn't like I mean,
the people that were calling for golden now go to
twenty seven hundred and stuff and all the way back
to the two hundred day moving average. I'm like, well maybe,
but in terms of the internal components of what has
always driven the futures market, like the commitment of traders reports,
it was the farthest thing from being overbought.
Speaker 2: So I was like, well, you know, I'm.
Speaker 1: Not necessarily buying this narrative. And now look what's happened
as we record this on Tuesday. We're up almost one
hundred dollars a Monday, and at one point today we're
up about.
Speaker 2: Eighty or ninety. That's shocking.
Speaker 1: The reports of the great death of the gold rally,
I guess we could say are greatly exaggerated. And we'll
see where we go from here.
Speaker 2: No doubt, no doubt that's true. And now even silver
is starting to join the party here, huh.
Speaker 1: It started, it's you know, it just dries. Everybody crazy.
Drives me crazy too. I mentioned the commitment of trader
structure for gold and being actually pretty tame and I
don't want to say bullish, but the amount of excuse me,
the large speculators or the hedge funds have actually been
trimming their long position over the last two and a
half months. In fact, it's the smallest has been since
when this rally took off at the end of February
last year. On the other hand, they'll carry different story.
It's kind of in its mid range as you could
actually even say it's a slightly heavy or bearish commitment
of trader structure. So it just as hard as having
a hell of a time getting any momentum, you know,
getting anything going to the upside. And that's what it's
going to take for silver to catch up. You know
what kind of you recall times in the past when
silver is taken off, it kind of builds a momentum
of its own, It goes up because it's going up
sort of thing. But until it actually gets going, it
tends to just kind of languish, and that's kind of
what it's doing now. And I know it's frustrating to
a lot of folks.
Speaker 2: Yeah, that is for sure. I mean I know myself,
I have felt that way myself. But you know what,
I think we've been vindicated very well at this point.
We waited around a lot of years. We were telling
people and they're saying, oh, your stop clocks, you know, yeah,
twice a day, you don't know, shift, And all of
a sudden, we're looking a lot smarter these days.
Speaker 1: Craig, Well, you know, Carrie, we've known each other for
over a decade, you know, and I think back to
how many times, you know, when gold was twelve hundred
dollars an ounce, you know, in fifteen, you know, or sixteen,
And I've got people on my site they're like, you know,
thank you for keeping the faith, because I would very
easily have given up, you know. And if I've accomplished anything,
maybe it's that. But it's not that I'm you know,
a savant or anything. The math has just always been
the math, Kerrie, and at this point more people are
figuring that out. You know, as we've discussed, we've always
called it the end of the Great Canes of experiment.
Remember that this debt based monetary system, you got to
keep feeding the beast, we have more and more of
our cash.
Speaker 2: Yeah, which is why you know banks love the inflation,
right well, sure, yeah, exactly.
Speaker 1: They're the ones that create the cash at that retail
level and then they loan it out. So for sure
they and they got to have inflation. They got to
have more money to constantly be servicing all of the
build up of the debt, you know. And Carrie, I
mean it's like this. You know, we all look at
it and say, look at that gold is thirty four
hundred dollars per ounce. That's one way to look at it.
You I mean, you look at it as gold versus
a dollar. But look at the dollar versus gold. The
dollar is depreciating versus gold. You know, gold's appreciating versus
a dollar, that's what we keep saying. But it's a
dollar that's depreciating against gold. You know, you fifty years
ago it only took thirty five dollars to buy an
ounce of gold, and now here we are, fifty years later,
it takes thirty five hundred. And that's the I mean,
it is that endless march toward I can't really say workless,
but march toward this kind of infinitely small value.
Speaker 2: I don't know.
Speaker 1: I guess I'm certainly for the right word. But it's
that endless devaluation that we're seeing in that price of gold.
Speaker 2: Yeah, oh, so true, A man's so true. So the
devaluation continues. You think doge can make any difference in
the long run or what?
Speaker 1: No? I mean, I've felt this way since November and December.
You know, at one point, Carrie, you'll remember, back during
the campaign, they're going to save two trillion dollars by
cutting waste and all that kind of stuff. And then
about the time Trump got elected, it was oh, maybe
one trillion that they could save, and then Musk came
out about a month ago, six weeks ago and said, no,
maybe one hundred and fifty billion. Yeah, and now maybe
it's fifty billion. And look at the fight that they're
getting just for that. I mean, that's always been the problem.
I mean, it's not the ability to there's no line
item veto, right. The ability to just summarily cut programs
is you know, sounds good, but it's not a wol right.
So I my concern is that we were already running
a two trillion dollar deficit this year in what is
deemed to be a growing economy. So where does that
go from here, Carrie? If you know, maybe if those starts,
if it really did have an impact, that would just
cut the size of government's betting, which would help, which
would shrink the economy even more, which would then shrink
tax receipts even more. And the deficit remains the same,
if not worse. So that's all part of this thing.
I mean, that's the math. Is the math, and that
depreciation of the dollars what just continues. And the interesting
thing now is the rest of the world seemingly catching on,
not just the global central banks, but investors around the
world are starting to figure this out. And we may
still be in the early stages of this rally.
Speaker 2: Yeah, it's as interesting to how high I kind of
go this year.
Speaker 1: You know, here's one for you, Carrie, rather than me
answering that myself, I saw. I know you're already sitting down.
Just yesterday, Goldman's Sacks came out and said, if you know,
in kind of a worst case scenario is how they
you know, put it, it's actually best case for us
gold could go to forty five hundred this year.
Speaker 2: That's what I'm thinking forty three hundred is my guest year.
Speaker 1: Yeah, their base case was like thirty seven hundred, which
is another ten percent. They're kind of if we do
get into recession, it's more like thirty nine hundred, they said,
forty five. Carrie. Here's the thing, I mean, just kind
of connect some dots for the people that are trust
by the mining sector. And look, I'm one of them, right,
and we all look at this just what we've always
the point of being in the mining sectors being first
right before the world gets turned onto it, you know,
before the flow of fund starts coming into the sector
and everybody starts bidding the shares higher and higher. It's like,
remember when the market was crashing a month ago, and
it's like the mag seven lost one point one trillion
dollars of market cap today, remember things like that. Yes, well,
the entire market cap of the GDX ETF is only
like sixteen billion. So you just think if some of
that money starts flowing in, how that's going to change things?
Speaker 2: All right?
Speaker 1: Well, the key is to get regular investors and hedge
funds and institutions to start putting some money in things
like Neumont and Agniquo, Eagle and in the sector in general.
All right, so how does that start. Well, the advisor,
the or the seller or the bank prop desk guy,
they're always going to look at what their bank has.
They're going to pull up their analyst opinion in the
mining sector and say, well, this guy's projecting X for
earnings this year and that kind of stuff. Well, where
do they come up with that? Well, they're going to
take their own banks numbers for where the gold price
is going. And when the bank is saying, ah, the
gold price is going to fall this year, they're going
to factor that into their earnings per share forecast for
all these mining companies. Right. Well, when Goldman now is
saying thirty nine hundred, or UBS is saying thirty seven hundred,
you know, Morgan Stanley is saying thirty five hundred. All
these different banks they're analysts now within you know they're
covering all these stocks are going to start to put
that price into their earnings per share projections, right And
that how I mean, it's a small step in the process,
but that's how we get more and more of the
regular investors to actually start buying these things because of again,
positive analyst coverage. Well maybe I to buy some of
that that sort of thing, but plays a role.
Speaker 2: So it's the rocket fuel, huh.
Speaker 1: It helps, it helps, And again, Carrie, I just I'm
just amazed by this every time I again think about it,
and I mentioned earlier. I mean, there's so much money
and things like Apple and Nvidia and you know their
market caps a trillion dollars or two trillion dollars, you know,
the entire You could take a little tell how many
shares of Nvidia and then buy the entire GDX, you know,
for sixteen billion. I mean, what is that ten A
couple tenths of a basis point.
Speaker 2: Nothing, It's a rounding error, right, amazing, amazing, man, that
we're that we're here, that we've gotten to this point,
and you know what's coming next. Stay any particular ruminations
on bitcoin, Well, it's.
Speaker 1: Been interesting how it's at least come back. It started
to break down about a month ago, you know, and
it has had a tendency to kind of follow the
NASDAC and to follow the stock market. When the stock
market was tanking, bitcoin got down and lost what looked
like to be some important support, got down into the
low seventy thousands, or whatever. But as the stock market
has come back, it's come soaring back too. And I
don't even know what's the last ninety thousand something ninety five.
Speaker 2: I look at City four last night. I haven't checked yet.
Speaker 1: Today, still off its all time high. But so anyway,
doing what it wants to do, I mean, and what
it should do. I mean, it too is an alternative
to dollar based assets. And that's kind of what we're seeing.
That's that's kind of what the underlying trend is here globally,
is this movement out of dollar based assets, whether it's
US stocks, US bonds, or the dollar itself, and that
flow of funds is going to the dollar alternatives, be
it gold or bitcoin, or commodities or or just other
foreign currents of gosh, kerry, have you seen the crazy
action the Taiwanese dollar as of late, which had been
you know, peg to the dollar, but it's beally for
soaring in strength versus the dollar. As again, these funds
are being repatriated out of the US because of I
guess political uncertain you know, whatever you want to call it,
political economic uncertainty. After the Trump caraff announcements a month ago.
Speaker 2: M yeah, all right, man, Well, this is a fascinating
turn of events here. I guess we're not really surprised.
We're just surprised that it took as long as it did.
In any event, to a tfmetals report dot com. Go there,
sign up for a little more, actually for a lot
less than the cost of a latte at the inflation cafe.
You could be part of a community and figure out
attempt to figure out what the heck is really going
on here.
Speaker 1: That's what we do every day, Carrie, kind of a
summer every morning, which I just got done writing a
little bit ago, and then we wrap it up with
a podcast in the afternoon for like you said, fifty
cents a day. Try to keep everybody on top of things,
that's for sure, and gosh, at a time like this,
that couldn't be more important. Just everybody, remember, I mean,
ball markets in just about anything, but particularly the precious
metals unfold in a pattern of kind of two steps
forward to one step back, higher highs followed by higher lows.
And you don't want to get shaken off trying to
call tops. Just like you know, anytime you're in a
bear market, you don't want to kill yourself trying to
pick bottoms either. And the best thing people can do
is try to stay on top of things, keep in
mind the underlying trend and why it's happening. And then yeah,
anytime you get a dip where you can, you know,
add to your stack, probably going to work out pretty
well for you.
Speaker 2: In the end. By the dip BTFD right right, zach,
bt BFTD, whatever.
Speaker 1: You would say, it's so long, Terre, it's like it
all runs together.
Speaker 2: If you're dyslexic, you're right they Otherwise, if you're not dyslexic,
BTFD and it. Hey, that's it for today, and make
sure you go over to Financial Survival Network dot com.
We got a link to TF Metalsreport dot com. While
you're there, sign up for your free newsletter. We're up
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And if you've got a question, Greg myself k L
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back to you. Greg. Always a pleasure, thanks for stopping by.
Speaker 3: Always fun to visit, my friend all the best, Thanks
for listening to carry says Financial Survival Network your solution
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