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Speaker 1: So for sure, and they got to have inflation, they

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got to have more money to constantly be servicing all

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of the build up of the debt. You know. And Carrie,

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it's like this. You know, we all look at it

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and say, hey, look at that gold is thirty four

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hundred dollars per ounce. That's one way to look at it.

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I mean, you look at it as gold versus a dollar.

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But look at the dollar versus gold. The dollar is

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depreciating versus gold. You know, gold's appreciating versus a dollar,

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that's what we keep saying. But it's a dollar that's

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depreciating against gold. You know, you fifty years ago it

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only took thirty five dollars to buy an ounce of gold.

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Speaker 2: You're listening to Carrie.

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Speaker 3: Let's his Financial Survival Network where you get valuable information

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you just can't find anywhere else to thrive in today's

16
00:00:48,240 --> 00:00:52,840
trying times. You need the Financial Survival Network now more

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than ever. Go to Financial Survivalnetwork dot com and get

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more than ever.

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Speaker 2: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Aery lutz Well Craig kim

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Key is with us Tfmetalsreport dot com. Make sure you

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go there sign up, sign up for the for the

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daily missive. And it's opportune that we're speaking with you now, Craig,

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in light of what has happened in Gold the past

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two days.

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Speaker 1: Yeah, how about that, Carrie, it was you know, everybody is.

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I think we all suffer from PTSD a little bit

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in our sector, Carrie. You know, yes, we just expect

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the rug to get pulled at any time.

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Speaker 2: We expect, you.

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Speaker 1: Know, some mass liquidation of futures contracts at three o'clock

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in the morning, you know, that kind of stuff. And

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there's you know, that's probably always going to be with us.

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But after you know, Gold ran up whatever it was

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two weeks weks ago, one hundred dollars a day, two

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days in a row, got to thirty five ten intra

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day on the futures contract and okay, yeah, you know,

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at that point probably needed a little pullback. It had

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gone up, had four one hundred dollars gains in the

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course of about eleven days. So okay, so it's going

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to pull back. But my goodness, Carrie, here came everybody

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out of the woodwork. Oh yeah, it's a crowded trade.

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As if you know, everybody suddenly owned gold or something.

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You know, it's overbought. Okay, maybe the RSI got up

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into the seventies, but I mean it wasn't like I mean,

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the people that were calling for golden now go to

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twenty seven hundred and stuff and all the way back

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to the two hundred day moving average. I'm like, well maybe,

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but in terms of the internal components of what has

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always driven the futures market, like the commitment of traders reports,

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it was the farthest thing from being overbought.

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Speaker 2: So I was like, well, you know, I'm.

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Speaker 1: Not necessarily buying this narrative. And now look what's happened

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as we record this on Tuesday. We're up almost one

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hundred dollars a Monday, and at one point today we're

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up about.

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Speaker 2: Eighty or ninety. That's shocking.

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Speaker 1: The reports of the great death of the gold rally,

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I guess we could say are greatly exaggerated. And we'll

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see where we go from here.

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Speaker 2: No doubt, no doubt that's true. And now even silver

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is starting to join the party here, huh.

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Speaker 1: It started, it's you know, it just dries. Everybody crazy.

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Drives me crazy too. I mentioned the commitment of trader

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structure for gold and being actually pretty tame and I

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don't want to say bullish, but the amount of excuse me,

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the large speculators or the hedge funds have actually been

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trimming their long position over the last two and a

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half months. In fact, it's the smallest has been since

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when this rally took off at the end of February

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last year. On the other hand, they'll carry different story.

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It's kind of in its mid range as you could

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actually even say it's a slightly heavy or bearish commitment

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of trader structure. So it just as hard as having

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a hell of a time getting any momentum, you know,

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getting anything going to the upside. And that's what it's

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going to take for silver to catch up. You know

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what kind of you recall times in the past when

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silver is taken off, it kind of builds a momentum

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of its own, It goes up because it's going up

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sort of thing. But until it actually gets going, it

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tends to just kind of languish, and that's kind of

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what it's doing now. And I know it's frustrating to

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a lot of folks.

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Speaker 2: Yeah, that is for sure. I mean I know myself,

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I have felt that way myself. But you know what,

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I think we've been vindicated very well at this point.

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We waited around a lot of years. We were telling

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people and they're saying, oh, your stop clocks, you know, yeah,

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twice a day, you don't know, shift, And all of

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a sudden, we're looking a lot smarter these days.

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Speaker 1: Craig, Well, you know, Carrie, we've known each other for

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over a decade, you know, and I think back to

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how many times, you know, when gold was twelve hundred

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dollars an ounce, you know, in fifteen, you know, or sixteen,

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And I've got people on my site they're like, you know,

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thank you for keeping the faith, because I would very

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easily have given up, you know. And if I've accomplished anything,

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maybe it's that. But it's not that I'm you know,

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a savant or anything. The math has just always been

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the math, Kerrie, and at this point more people are

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figuring that out. You know, as we've discussed, we've always

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called it the end of the Great Canes of experiment.

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Remember that this debt based monetary system, you got to

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keep feeding the beast, we have more and more of

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our cash.

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Speaker 2: Yeah, which is why you know banks love the inflation,

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right well, sure, yeah, exactly.

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Speaker 1: They're the ones that create the cash at that retail

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level and then they loan it out. So for sure

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they and they got to have inflation. They got to

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have more money to constantly be servicing all of the

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build up of the debt, you know. And Carrie, I

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mean it's like this. You know, we all look at

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it and say, look at that gold is thirty four

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hundred dollars per ounce. That's one way to look at it.

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You I mean, you look at it as gold versus

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a dollar. But look at the dollar versus gold. The

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dollar is depreciating versus gold. You know, gold's appreciating versus

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a dollar, that's what we keep saying. But it's a

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dollar that's depreciating against gold. You know, you fifty years

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ago it only took thirty five dollars to buy an

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ounce of gold, and now here we are, fifty years later,

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it takes thirty five hundred. And that's the I mean,

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it is that endless march toward I can't really say workless,

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but march toward this kind of infinitely small value.

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Speaker 2: I don't know.

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Speaker 1: I guess I'm certainly for the right word. But it's

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that endless devaluation that we're seeing in that price of gold.

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Speaker 2: Yeah, oh, so true, A man's so true. So the

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devaluation continues. You think doge can make any difference in

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the long run or what?

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Speaker 1: No? I mean, I've felt this way since November and December.

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You know, at one point, Carrie, you'll remember, back during

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the campaign, they're going to save two trillion dollars by

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cutting waste and all that kind of stuff. And then

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about the time Trump got elected, it was oh, maybe

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one trillion that they could save, and then Musk came

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out about a month ago, six weeks ago and said, no,

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maybe one hundred and fifty billion. Yeah, and now maybe

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it's fifty billion. And look at the fight that they're

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getting just for that. I mean, that's always been the problem.

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I mean, it's not the ability to there's no line

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item veto, right. The ability to just summarily cut programs

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is you know, sounds good, but it's not a wol right.

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So I my concern is that we were already running

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a two trillion dollar deficit this year in what is

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deemed to be a growing economy. So where does that

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go from here, Carrie? If you know, maybe if those starts,

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if it really did have an impact, that would just

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cut the size of government's betting, which would help, which

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would shrink the economy even more, which would then shrink

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tax receipts even more. And the deficit remains the same,

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if not worse. So that's all part of this thing.

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I mean, that's the math. Is the math, and that

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depreciation of the dollars what just continues. And the interesting

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thing now is the rest of the world seemingly catching on,

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not just the global central banks, but investors around the

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world are starting to figure this out. And we may

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still be in the early stages of this rally.

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Speaker 2: Yeah, it's as interesting to how high I kind of

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go this year.

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Speaker 1: You know, here's one for you, Carrie, rather than me

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answering that myself, I saw. I know you're already sitting down.

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Just yesterday, Goldman's Sacks came out and said, if you know,

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in kind of a worst case scenario is how they

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you know, put it, it's actually best case for us

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gold could go to forty five hundred this year.

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Speaker 2: That's what I'm thinking forty three hundred is my guest year.

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Speaker 1: Yeah, their base case was like thirty seven hundred, which

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is another ten percent. They're kind of if we do

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get into recession, it's more like thirty nine hundred, they said,

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forty five. Carrie. Here's the thing, I mean, just kind

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of connect some dots for the people that are trust

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by the mining sector. And look, I'm one of them, right,

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and we all look at this just what we've always

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the point of being in the mining sectors being first

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right before the world gets turned onto it, you know,

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before the flow of fund starts coming into the sector

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and everybody starts bidding the shares higher and higher. It's like,

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remember when the market was crashing a month ago, and

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it's like the mag seven lost one point one trillion

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dollars of market cap today, remember things like that. Yes, well,

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the entire market cap of the GDX ETF is only

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like sixteen billion. So you just think if some of

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that money starts flowing in, how that's going to change things?

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Speaker 2: All right?

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Speaker 1: Well, the key is to get regular investors and hedge

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funds and institutions to start putting some money in things

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like Neumont and Agniquo, Eagle and in the sector in general.

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All right, so how does that start. Well, the advisor,

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the or the seller or the bank prop desk guy,

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they're always going to look at what their bank has.

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They're going to pull up their analyst opinion in the

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mining sector and say, well, this guy's projecting X for

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earnings this year and that kind of stuff. Well, where

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do they come up with that? Well, they're going to

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take their own banks numbers for where the gold price

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is going. And when the bank is saying, ah, the

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gold price is going to fall this year, they're going

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to factor that into their earnings per share forecast for

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all these mining companies. Right. Well, when Goldman now is

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saying thirty nine hundred, or UBS is saying thirty seven hundred,

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you know, Morgan Stanley is saying thirty five hundred. All

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these different banks they're analysts now within you know they're

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covering all these stocks are going to start to put

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that price into their earnings per share projections, right And

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that how I mean, it's a small step in the process,

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but that's how we get more and more of the

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regular investors to actually start buying these things because of again,

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positive analyst coverage. Well maybe I to buy some of

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that that sort of thing, but plays a role.

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Speaker 2: So it's the rocket fuel, huh.

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Speaker 1: It helps, it helps, And again, Carrie, I just I'm

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just amazed by this every time I again think about it,

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and I mentioned earlier. I mean, there's so much money

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and things like Apple and Nvidia and you know their

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market caps a trillion dollars or two trillion dollars, you know,

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the entire You could take a little tell how many

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shares of Nvidia and then buy the entire GDX, you know,

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for sixteen billion. I mean, what is that ten A

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couple tenths of a basis point.

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Speaker 2: Nothing, It's a rounding error, right, amazing, amazing, man, that

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we're that we're here, that we've gotten to this point,

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and you know what's coming next. Stay any particular ruminations

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on bitcoin, Well, it's.

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Speaker 1: Been interesting how it's at least come back. It started

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to break down about a month ago, you know, and

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it has had a tendency to kind of follow the

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NASDAC and to follow the stock market. When the stock

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market was tanking, bitcoin got down and lost what looked

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like to be some important support, got down into the

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low seventy thousands, or whatever. But as the stock market

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has come back, it's come soaring back too. And I

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don't even know what's the last ninety thousand something ninety five.

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Speaker 2: I look at City four last night. I haven't checked yet.

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Speaker 1: Today, still off its all time high. But so anyway,

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doing what it wants to do, I mean, and what

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it should do. I mean, it too is an alternative

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to dollar based assets. And that's kind of what we're seeing.

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That's that's kind of what the underlying trend is here globally,

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is this movement out of dollar based assets, whether it's

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US stocks, US bonds, or the dollar itself, and that

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flow of funds is going to the dollar alternatives, be

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it gold or bitcoin, or commodities or or just other

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foreign currents of gosh, kerry, have you seen the crazy

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action the Taiwanese dollar as of late, which had been

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you know, peg to the dollar, but it's beally for

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soaring in strength versus the dollar. As again, these funds

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are being repatriated out of the US because of I

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guess political uncertain you know, whatever you want to call it,

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political economic uncertainty. After the Trump caraff announcements a month ago.

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Speaker 2: M yeah, all right, man, Well, this is a fascinating

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turn of events here. I guess we're not really surprised.

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We're just surprised that it took as long as it did.

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In any event, to a tfmetals report dot com. Go there,

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sign up for a little more, actually for a lot

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less than the cost of a latte at the inflation cafe.

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You could be part of a community and figure out

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attempt to figure out what the heck is really going

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on here.

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Speaker 1: That's what we do every day, Carrie, kind of a

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summer every morning, which I just got done writing a

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little bit ago, and then we wrap it up with

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a podcast in the afternoon for like you said, fifty

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cents a day. Try to keep everybody on top of things,

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that's for sure, and gosh, at a time like this,

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that couldn't be more important. Just everybody, remember, I mean,

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ball markets in just about anything, but particularly the precious

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metals unfold in a pattern of kind of two steps

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forward to one step back, higher highs followed by higher lows.

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And you don't want to get shaken off trying to

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call tops. Just like you know, anytime you're in a

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bear market, you don't want to kill yourself trying to

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pick bottoms either. And the best thing people can do

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is try to stay on top of things, keep in

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mind the underlying trend and why it's happening. And then yeah,

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anytime you get a dip where you can, you know,

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add to your stack, probably going to work out pretty

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well for you.

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Speaker 2: In the end. By the dip BTFD right right, zach,

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bt BFTD, whatever.

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Speaker 1: You would say, it's so long, Terre, it's like it

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all runs together.

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Speaker 2: If you're dyslexic, you're right they Otherwise, if you're not dyslexic,

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BTFD and it. Hey, that's it for today, and make

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sure you go over to Financial Survival Network dot com.

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We got a link to TF Metalsreport dot com. While

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you're there, sign up for your free newsletter. We're up

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to over eighty thousand subs and subscribers and the seventy

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seven thousand of you are still active, which is pretty amazing.

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And if you've got a question, Greg myself k L

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at carrie lets dot com is the email will get

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back to you. Greg. Always a pleasure, thanks for stopping by.

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Speaker 3: Always fun to visit, my friend all the best, Thanks

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for listening to carry says Financial Survival Network your solution

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to today's trying times. For the latest, go to Financial

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Survivalnetwork dot com. Financial Survival Network

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Speaker 1: Now more than ever,