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Speaker 1: There are a lot of interesting theories out there. Ronan

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Manley has done some great work on this about whether

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all the actual good delivery bars were shipped out in

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the late sixties supporting the London gold Pool.

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Speaker 2: You're listening to Carrie Leutz's Financial Survival Network, where you

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get valuable information. You just can't find anywhere else to

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

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Network now more than ever. Go to Financial Survivalnetwork dot

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com and get your free newsletter and gift. Financial Survival

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Network now more than.

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Speaker 3: Ever, and welcome. You are listening to and watching the

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Financial Survival Network. I'm your host, Kerrie lutz Man. We're

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all right. At the end of February, looks like everything's

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hitting the fan. Is there gold in Fort Knox? I

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want to know, and I want to know it now. Hey,

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what about Doge? Is Doge going to just sink the economy?

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Because we're credit driven economy. Once the dollars stopped flowing,

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so does all economic activity at least up to now.

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Maybe things are different, maybe they're not. Craig Hempke is

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with us now Tfmetalsreport dot com. Make sure you go

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to that site. And sign up and any questions or

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comments klfkerrie Lets dot com. Craig, we got like so

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much to talk about here. First thing I want to

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talk to you about is Fort Knox. Man Like, I

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know the gold is there because I saw the movie Goldfinger,

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and it might all be radioactive, but it's definitely there, right, Uh.

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Speaker 1: There's I'm sure there's gold there. You know. There are

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a lot of interesting theories out there. Ronan Manley has

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done some great work on this about whether all the

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actual good delivery bars were shipped out in the late

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sixties supporting the London gold Pool. I don't know, maybe

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you know even when they the last time they had

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cameras in there and did a tour was right after

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Nixon closed the gold Window in nineteen seventy four. They

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went in with a select group of politicians and some media.

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They said, oh, look in here's here's one of the

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rooms we keep it in and you could see at

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the time there were bricks, not the standard whatever whatever

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those things are called the trapezoidal looking London good delivery bar,

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just square up, rectangle bar bricks. And the problem with

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those is that a lot of that gold and Fort

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Knox got there via the confiscation or the buyback or

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whatever you want to call it of nineteen thirty three

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where holders of gold sold their gold sold ex appropriation.

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Speaker 3: I would call it.

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Speaker 1: Gold to the government at twenty dollars and sixty seven

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cents and then the government, Yeah, there you go. They

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certainly didn't hypothecate it. But anyway, the government bought it

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for twenty sixty seven then turn around a revalued at

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thirty five. So anybody that held the gold didn't participate

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in that. But anyways, See, you take all the gold coins,

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which gold coins are rarely four nine certainly from back then,

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they melt them all down and then they poured them

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into these bricks that you see in the archival footage

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of Fort Knox, and I'm sure that most are still there. Well,

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the problem with that is they're about ninety percent gold,

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where the global standard these days is ninety nine point

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ninety nine percent gold. Yes, so even if you were

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to go in there, drill some holes, weigh them all,

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and you came up with four five hundred and thirty

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three metric tons, most of it is that ninety percent goal.

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So if you had to reassey it remelt it, you know,

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and re refine it. You probably have closer to about

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forty one hundred metric tons, So right there, you're overstated

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by four hundred metric tons. Anyway, the point of all

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this is, I don't know if it'll go anywhere. You know,

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it kind of reached the point of media mass attention

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a couple of days ago. You know, he open there,

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must goes in there, you know, or a couple of

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senators or even Trump and he just goes in there

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and waves his arm around and with his phone says, hey,

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look look at all these shining gold. What does that accomplish?

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Speaker 3: So what would happen wasn't there though? If it was empty,

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If the vault was empty, well.

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Speaker 1: If it wasn't there, they wouldn't go there at all.

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You know, they'd come up with some reason to not. Yeah,

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well it's the vault door is under repair, so it

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doesn't fit into the schedule right now. They'd come up

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with some rationale tonight, you're never gonna They're never gonna

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walk in there, crack open some door and there's just

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like cobwebs and shitting from the ceiling.

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Speaker 3: Yeah, they would have to get Heraldo to do that

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because he's exactly opening empty vaults, right, exactly.

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Speaker 1: The bigger story, Carrie is, if you try to connect again,

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there may be I may be completely chewing on a

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nothing burger, me and every other analyst in the gold space,

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and we may be connecting dots. My standard joke, because

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I might be pulled of John Nash, remember that, yeah,

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from the Beautiful Mind movie where in the end, you know,

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after years of just being schizophrenic and crazy, schizophrenic and crazy,

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he's got all that stuff on his wall, and he's

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got all these strings. And maybe that's what I'm doing

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when I try to connect all the dots of everything

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that's taken place in the gold market since early December,

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shortly after Trump was elected. But this talk of auditing

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or trying to figure out how much gold the US

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actually has is certainly a dot that you can possibly

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connect to some other things to try to figure out

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what's going on. We'll just see, we'll no sooner enough,

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I guess.

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Speaker 3: Yeah, yeah, the gold has to be there. I'm about

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to write an article about that because the alternative, if

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it was exposed, that would be a global meltdown, right,

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I mean, instantly, all the the currencies of the world

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would probably go back to their intrinsic value.

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Speaker 1: Right, Yeah, well, they toil those things that even like

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if they were to revalue gold on the books, which

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there's a lot of talk about that because the US

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carries it at forty two dollars and twenty two cents,

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we don't know what the impact would be. You know,

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if you walked in one day there's no gold, maybe

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it'd be some volatility for a day, and then everything

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just sail off into the distance, you know, unaffected. If

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if all of a sudden they come out and say, well,

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we want to try to We've got x amount of

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gold and we want that to represent twenty five percent

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of our debts. So we're going to now say that

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that gold is worth thirty thousand dollars an ounce. Does

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that mean that gold trades at thirty thousand dollars an ounce?

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Not necessarily. I mean it's just a book untry on

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the on the Treasury Department's balance sheet. So it depends on,

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you know, a number of other factors to see how

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that would all play off. They walked in there when

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any goal, I don't know. What I do know, Carrie,

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is that at the end of World War Two, the

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US had let's just call it, twenty five thousand metric

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tons of gold. They backed the dollar with it to

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give the dollar people using the dollar some confidence to

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rebuild the world. You know, you can convert thirty five

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dollar dollars into an ounce of gold. Well, by the

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time we got to late fifties, the world was you know,

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beginning to uh, you know, it had gotten start again economically,

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and a lot of countries had dollar reserves that they said, well,

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we really don't want these out of gold. And the

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US lost about seven or eight thousand of those metric

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tons and it was a big I mean, it was

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a like scandal and what And they had hearings in

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nineteen fifty seven and fifty eight, what are we going

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to do about this? Well what they did is in

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the by nineteen sixty one they said, you know, we're

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not going to go this alone anymore. So the US

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pledged about another seven or eight thousand metric tons, along

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with about seven or eight other countries. And that was

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a London gold pool defending thirty five dollars, and all

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of a sudden that was gone. So now all of

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a sudden we got eighty one hundred and thirty three

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metric tons left, and Nixon said, it's enough of that.

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We're not you know, we're not converting dollars anymore. And

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that's allegedly what we have left, allegedly.

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Speaker 3: Interesting. Interesting, Well, uh, something's going to hap up in

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here right, things like it, Carrie.

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Speaker 1: You know, the standard line is that Trump's gonna, you know,

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put all these tariffs on, and Gold's not gonna be

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able to leave London or come in to the US

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from Canada or Mexico or anything else without a big tariff.

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So we got to shore up the Comax with a

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bunch of physical goal kind of like what they said.

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You know, we couldn't fly Gold around during COVID because

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they weren't any pilots and nobody was flying, and so

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we had to shore it up then. So the standard

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line is that's what's been going on since early part

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of December, about a month after Trump was elected.

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Speaker 3: Interesting. Interesting, But if we were to.

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Speaker 1: Try to connect dots, we could say, well, they're trying

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to on short as much, they're trying to get as

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much go back here as fast as they can. Oh

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and then are talking about four Knox because they know,

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they know exactly how much there is. And then let's

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say you know how much there is. You know, there's

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this lady. Have you ever talked to Judy Shelton? Have

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you ever interviewed her or try to interview her? Carry

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you know who that is?

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Speaker 3: I know the name, haven't had or on.

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Speaker 1: Judy Shelton was actually nominated to the Board of Governors

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of the Federal Reserve in about twenty eighteen. When Trump

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had a chance to replace it, you know, to nominate

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a couple of people. Was shot down. She was shot down.

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She's just a lunatic gold bug, you know, conspiracy theorist,

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fringe tenfoilve hat person. Anyway, so Trump knows Judy obviously,

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and Judy's whole thing has been we need to shift

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debt and remonetize gold by issuing gold backed or gold

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indexed fifty year debt. Okay, interesting idea. Who would buy

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Carrie how much? If you were just a buyer, if

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they were suddenly started issuing you know, they got twenty

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year bonds, ten year you know notes, thirty year long bond.

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What kind of if you just were going to buy

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one and carry a fifty year bond? Straight up the

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way they're done. Now, what level of interest would you demand?

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Speaker 3: You me, I can't even I'm mad, you know, like,

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I'd want like ten twelve percent?

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Speaker 1: I would think right, You would think right, because the

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way the US fiscal situation is, and the destruction of

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your purchasing power over time if you just simply get

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your principle back. So what if, though, Carrie, the US said, Okay,

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we're going to issue these bunts, but they're going to

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be either redeemable at the end fifty years from now,

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let somebody else deal with it, or will just index

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them to gold. Your principle is index to the price

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of gold for fifty years from now. So if you

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knew your principle was protected or hedged or whatever you

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want to put it to inflation and the price of

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gold and everything else, then what level of interest would

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you take?

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Speaker 3: Would you take three?

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Speaker 1: Or four?

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Speaker 3: Five? Yeah? Maybe? I mean I don't trust the government,

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so it's it's hard to knew.

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Speaker 1: Well, there are enough suckers out there around the world

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that probably would. So anyway, my point is that's what

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Judy Shelton's always talked about. So okay, well, let's point

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one more dott in here, Carrie. Remember Trump about a

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month ago said he wanted to create a US Sovereign

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Wealth Fund, Remember.

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Speaker 3: That, right, yeah? Yeah, yeah, and quite understanding.

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Speaker 1: He gotta fund that thing. Have you got to put

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some cash in there? Where's it going to come for?

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You can't just create I mean, we're already going to

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do a two trillion dollar deficit this year. We're gonna

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sell another two trillion dollars worth of bonds to fund

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that thing. With two trillion bucks, then you got a

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four trillion dollar and it just makes selling trailer. So

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what if in the grand scheme of things, John Nash

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now phoning in from wherever John Nash is these days, uh,

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somewhere in heaven. I guess yeah, what if the plant

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all along has been we're gonna set up the sovereign

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Wealth Phone. We need to fund it somehow. Judy Shelton says,

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we can fund it with some gold backed bonds. But

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then we got to get the gold back here, We

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got to know how much we've got. Then we got

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to revalue it. Because it's forty two dollars an ounce.

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That's only about seven hundred billion dollars at today's market prices.

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But what if we carried it on the book said

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ten thousand dollars an ounce instead, that'd give us two

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and a half trillion dollars that we could see what

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I'm saying, I don't know if any of that makes sense.

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I have no idea if that's where they're going. But

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that's one plausible scenario. And then I should further add

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in what we don't know, because this has not occurred

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at any time in our lifetime. If the US government,

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unless we don't know, If the government, if they say

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it's ten thousand dollars anounce on their books, does that

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make it trade at ten thousand dollars an ounce? I

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doubt it. Unless the government says we are a buyer

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at ten thousand dollars an ounce, then maybe. Otherwise it

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might just be an accounting gimmick. All this stuff is

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something that has occupied my mind through the cold winter months.

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And we'll see where we go from here.

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Speaker 3: This is fascinating, man, this is fascinating. Well, so what

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about what's happening with Doje? Does that give anyone any

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realistic hope that this ship can be righted?

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Speaker 1: I guess it gives some I mean, that was Remember

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that was all part of the rationale for a ten

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percent drop in the gold price right after Trump got elected.

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Remember it peaked out in late October and then by

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really by the at the time we got to that

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FED meeting in December, it bottomed out about ten percent lower.

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And it was all because Trump's going to cut spending

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and he's going to be pro growth and higher interest

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rates and all this kind of stuff. That was at

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least the rationale that was behind why gold was going down. Well,

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I thought at the time, I thought, man, I mean,

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I guess they I guess what we found is that

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they can try to expose things and they can say

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we're not going to have a USAID anymore and all

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that kind of stuff, but the government is still run

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by appropriations bills and omnibus spending bills and all that

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kind of It was something that just used through the

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House yesterday that Thomas Massey came out and said that's

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going to increase the debt by three hundred fifty billion dollars. So,

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I don't know, it sounds good, looks good, it's good politically,

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but whether or not it really does anything. And then

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you know, to actually net net trim the deficit. We're

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already about four percent of the pace from the last

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fiscal year with four months in, which puts US on

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a pace for about one point nine to two trillion

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dollars in deficit this year. So, I mean, does an't

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going to have any impact? I don't know, Carrie. I

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wish it did, but I've again I've never been optimistic

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that it would and I'm still not.

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Speaker 3: So it's just a pr deal, is that it?

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Speaker 1: Yeah? I think so. I mean, I think Trump is

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building political capital with people besides putting doze out there

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and running these headlines and people you know, seeing the

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waste and definitely exposing the corruption, right. I mean, you

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know how these politicians all got, you know, became millionaires

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is by serving on the board of you know, some

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random foundation that gets fifty million dollars a year from

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the government. So, uh, that's good political points. All the

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other executive orders that he signed that you know, like

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immediately or ten or twenty that have it like an

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eighty percent approval rate that he just puts out, even

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like getting rid of plastic straws whatever or paper straws, okay,

293
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or getting bringing back the incandescent light bulb, you know,

294
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that kind of stuff. That's all stuff that again has

295
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a massive approval rating. And then he did it and

296
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again makes headlines make people think, yeah, this guy's really

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doing the stuff. I like to give him some political capital,

298
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you know, for the tough stuff you are.

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Speaker 3: Yeah, it's the big pr show, is that it?

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Speaker 1: Yeah? Yeah, well for sure. Yeah. And again it's just

301
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building up some political capital for what's going to be

302
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some really tough decisions ahead, you know, and you're going

303
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to have to navigate himself through. But this this idea

304
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of the sovereign wealth or whatever reason you might revalue

305
00:16:05,600 --> 00:16:08,000
the gold on the balance sheet. We'll see if they do.

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I don't, And again I have no idea what I

307
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really because we don't. You can't say, well, the last

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time they did this carry and they took it from

309
00:16:14,480 --> 00:16:16,919
forty two up to two thousand, gold immediately went to

310
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two thousand.

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Speaker 3: Well they didn't.

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Speaker 1: This would be the first time in our lifetimes they've

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ever done this, So we don't. I don't know what

314
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the impact would be.

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Speaker 3: Interesting, interesting, man, Yeah, this is a fascinating conundrum, that's

316
00:16:29,200 --> 00:16:33,200
for sure. And you just got to wonder where it's

317
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going to end. So we got to we're heading for

318
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a disaster this year, you think, is that what you're thinking?

319
00:16:38,840 --> 00:16:42,679
Speaker 1: Well, Carrie, you may recall when the last time we

320
00:16:42,720 --> 00:16:46,120
spoke was right after I published my forecast for this year,

321
00:16:47,080 --> 00:16:49,039
and yeah, I think I do every year, and I've

322
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put it out in January, and this year was called

323
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inversion reversion, and the theme behind that was that the

324
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inverted yield curve, you know, where short rates are higher

325
00:17:00,639 --> 00:17:02,759
yielding than you know, like the two year note is

326
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a higher yield than the ten year note. It shouldn't

327
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be that way, but that inverted yield curve means that,

328
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I mean, you're signaling that a recession is coming. History

329
00:17:12,279 --> 00:17:14,839
is taught from the last six or seven times that's happened.

330
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The recession actually begins once the yield curve flips back

331
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to a positive slope, once the ten year note once

332
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again is a higher yield than a two year note.

333
00:17:23,680 --> 00:17:27,480
Well that happened in about September of last year. So

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I thought, well, okay, well, now look what's I mean.

335
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Even the last couple of weeks, look at how I

336
00:17:32,519 --> 00:17:36,200
mean this story, this idea of an economic slowdown is

337
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catching on the Secretary of Treasury was talking about it yesterday.

338
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You cut any government spending, that's going to impact and

339
00:17:43,720 --> 00:17:47,759
that nominal GDP growth as well. Labor market's going to

340
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start to kind of slow down. You know, I don't

341
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know we shall see even rate cut odds which just

342
00:17:56,599 --> 00:17:58,640
as of a couple of weeks go carry, you had

343
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to go all the way out September before you found

344
00:18:01,839 --> 00:18:05,079
at least a fifty to fifty chance of a rate cut.

345
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Now all of a sudden, it's about two chances in three.

346
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You get one by June. So there's a recognition going

347
00:18:13,319 --> 00:18:16,680
on here that we're tipping over, and that's not unusually

348
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a lot of times that happens in the first year

349
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of a presidential cycle.

350
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Speaker 3: So here we are, all right, So what do you

351
00:18:24,880 --> 00:18:26,880
do here? Is gold gonna keep going higher?

352
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Speaker 1: Here?

353
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Speaker 3: They don't seem to want it to go over three

354
00:18:29,680 --> 00:18:30,480
thousand do that?

355
00:18:32,079 --> 00:18:34,119
Speaker 1: Yes, it has been there seems to be on a

356
00:18:34,160 --> 00:18:36,799
line of the sandrawn just below that price around twenty

357
00:18:36,880 --> 00:18:42,359
nine sixty or seventy on the futures it gets above there, Well,

358
00:18:42,359 --> 00:18:43,720
you know what will happen when it gets to three

359
00:18:43,720 --> 00:18:47,039
thousand carry, I mean, there'll be all kinds of headlines,

360
00:18:47,440 --> 00:18:50,079
all kinds of news. Oh, it's three thousand, and it'll

361
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move a little bit past three thousand and then go

362
00:18:52,240 --> 00:18:55,519
right back down under and then people will say that's it.

363
00:18:55,680 --> 00:18:58,960
I ran into resistance. Remember two thousand was like that

364
00:19:00,680 --> 00:19:05,599
back in twenty twenty. So it'll get there at some point.

365
00:19:06,000 --> 00:19:07,680
My forecast this year I said, probably get all the

366
00:19:07,720 --> 00:19:10,359
way to thirty one hundred before settling a little bit lower.

367
00:19:10,359 --> 00:19:13,200
We've gotten a head start on that. The key to

368
00:19:13,240 --> 00:19:15,440
it all, really, besides all this other stuff that we've

369
00:19:15,440 --> 00:19:18,440
been talking about and the gold moving from London and

370
00:19:18,440 --> 00:19:22,759
Switzerland into the US, the key is continued and persistent

371
00:19:23,279 --> 00:19:30,079
global central bank demand. Ever since the US slapped all

372
00:19:30,200 --> 00:19:33,599
those sanctions on Russia in twenty in about this time

373
00:19:33,640 --> 00:19:35,480
of the year in twenty twenty two, three years ago,

374
00:19:36,119 --> 00:19:39,759
kicked him out of Swift, froze there foreign currency reserves.

375
00:19:40,519 --> 00:19:44,640
Ever since then, the global central bank demand for gold

376
00:19:44,640 --> 00:19:47,839
has soared. Twenty twenty two was a record going all

377
00:19:47,880 --> 00:19:50,839
the way back to nineteen sixty eight, twenty three, and

378
00:19:50,920 --> 00:19:54,039
twenty four, all three of those years greater than the

379
00:19:54,119 --> 00:19:57,200
thousand metric tons of net demand. Sure looks like it's

380
00:19:57,200 --> 00:19:59,720
not stopping this year. I think that is something that

381
00:19:59,759 --> 00:20:04,839
under pins price. It keeps that physical demand prohibits deep

382
00:20:04,880 --> 00:20:08,920
corrections in the paper price. And so yeah, it's not

383
00:20:09,000 --> 00:20:11,319
straight up. We've been up every week so far this year.

384
00:20:11,319 --> 00:20:13,960
Every week this year, Carrie has been a green candle

385
00:20:14,000 --> 00:20:16,960
on the weekly charge. They're not going to be fifty

386
00:20:16,960 --> 00:20:20,480
two of those babies, so it'll continue to move up

387
00:20:20,480 --> 00:20:23,880
in stage as it always does. But I sure wouldn't

388
00:20:23,880 --> 00:20:26,039
get freaked out and scared off just because suddenly the

389
00:20:26,039 --> 00:20:28,480
price starts with a three. One day it'll start with

390
00:20:28,480 --> 00:20:29,079
a four too.

391
00:20:30,240 --> 00:20:33,720
Speaker 3: So what about bitcoin? It's not been doing too good here.

392
00:20:34,880 --> 00:20:37,279
Speaker 1: Now, you know. In't that funny, Carrie? I mean, just

393
00:20:37,480 --> 00:20:40,079
the well, there are a number of reasons for it,

394
00:20:40,319 --> 00:20:43,400
you know. I still think and I go look and look.

395
00:20:43,480 --> 00:20:47,519
I was saying this at eighteen thousand. I sold one

396
00:20:47,759 --> 00:20:51,880
of my basically three bitcoin at eighteen thousand because that

397
00:20:51,960 --> 00:20:55,559
was when they instituted a bitcoin futures in twenty seventeen

398
00:20:55,680 --> 00:20:57,880
or eighteen, and I was like, well that's it for

399
00:20:57,960 --> 00:21:02,240
that man. Now the banks got their claws into it. Well, okay,

400
00:21:02,240 --> 00:21:04,680
we know what's happened since I've kind of five times.

401
00:21:06,079 --> 00:21:07,799
But I do think that now that there's kind of

402
00:21:07,839 --> 00:21:10,680
synthetic bitcoin with all this futures and you know, and

403
00:21:10,720 --> 00:21:13,279
all this other jazz what's funny carries. It seemed like

404
00:21:13,279 --> 00:21:14,400
it was such a layup.

405
00:21:15,000 --> 00:21:17,160
Speaker 3: Yeah, didn't it time we say this about gold?

406
00:21:17,279 --> 00:21:20,759
Speaker 1: If you're trading gold, and anytime it looks great, oh man,

407
00:21:20,960 --> 00:21:23,680
we're this man, everything's in our favor. You've got to

408
00:21:23,720 --> 00:21:27,319
be prepared to sell some because everybody's on the same

409
00:21:27,359 --> 00:21:30,559
side of the boat. And it's almost universally true. And

410
00:21:30,640 --> 00:21:32,880
you go back to after Trump got elected and we

411
00:21:32,920 --> 00:21:35,400
got into December and there's ETF and Trump's going to

412
00:21:35,480 --> 00:21:37,839
start a national Bitcoin Reserve, and there's all blah blah

413
00:21:37,839 --> 00:21:40,640
blah blah. Oh my god, this is the easiest trade

414
00:21:40,640 --> 00:21:44,960
you're ever gonna see. Yeah, right, it goes down.

415
00:21:45,960 --> 00:21:47,880
Speaker 3: Yeah, we love how that works out right.

416
00:21:48,480 --> 00:21:52,920
Speaker 1: Yeah, it's just, you know, almost universally true. Everybody gets

417
00:21:53,279 --> 00:21:57,400
on one side of the boat. Everybody's bought, everybody's bullish.

418
00:21:57,519 --> 00:22:01,559
The opposite happens. That's what's called being a contraurion. So yeah,

419
00:22:01,599 --> 00:22:04,000
now it's broken down through that ninety thousand level, will

420
00:22:04,000 --> 00:22:06,200
probably bang up. Try to get back above there. You

421
00:22:06,319 --> 00:22:11,319
might pull back even further. But yeah, fundamentals are still

422
00:22:11,319 --> 00:22:13,279
prop fundamentals. It's an interchant way to put it, but

423
00:22:13,319 --> 00:22:16,359
they the supply demand fundamental is a physical bitcoiner still

424
00:22:16,400 --> 00:22:19,759
compelling and always will be so maybe in another period

425
00:22:19,839 --> 00:22:23,319
of pullback and sideways for a while, but we'll probably

426
00:22:23,799 --> 00:22:26,440
I gotta imagine, you know, the general thesis has changed.

427
00:22:27,240 --> 00:22:31,440
Speaker 3: So so, in other words, the situation is hopeless but

428
00:22:31,519 --> 00:22:32,319
never serious.

429
00:22:34,359 --> 00:22:37,119
Speaker 1: That's what we p Well, the opposite is true too.

430
00:22:37,240 --> 00:22:41,680
Like I said, when everybody's all excited and everything looks

431
00:22:41,680 --> 00:22:44,079
like wow, I mean, we are in great shape here,

432
00:22:44,160 --> 00:22:45,920
you've got to be prepared to sell some of just

433
00:22:45,960 --> 00:22:48,839
about anything. The opposite of that is also true when

434
00:22:48,839 --> 00:22:52,680
everybody's full of despair is going to zero.

435
00:22:53,640 --> 00:22:57,759
Speaker 3: Yeah. Hey, but Buffett like is sitting on more cash

436
00:22:57,880 --> 00:23:01,160
than he's ever sat on before. What does Warren Buffett

437
00:23:01,200 --> 00:23:03,000
know that the rest of you out there don't.

438
00:23:04,359 --> 00:23:06,599
Speaker 1: I that's a good question. That's a good question. You

439
00:23:06,640 --> 00:23:10,599
could certainly. I mean we again, let me preface this.

440
00:23:11,279 --> 00:23:15,319
I have predicted ten of the last one market pullbacks, So.

441
00:23:16,160 --> 00:23:18,039
Speaker 3: I got you twenty.

442
00:23:18,759 --> 00:23:23,319
Speaker 1: Great, you might be up for twenty. So there have

443
00:23:23,440 --> 00:23:26,640
been reasons to question the valuations of the stock market

444
00:23:26,720 --> 00:23:30,359
for quite a while here, though, I will say, you know,

445
00:23:30,400 --> 00:23:34,599
that market is subject to liquidity concerns. That money supply

446
00:23:34,759 --> 00:23:39,039
is growing again, that's interesting, but that reverse repo account

447
00:23:39,319 --> 00:23:41,160
has been wiped out. Remember it was like two and

448
00:23:41,160 --> 00:23:44,799
a half trillion dollars, it's now like sixty billion. Yeah,

449
00:23:46,000 --> 00:23:48,200
and the FED is still tapering and all that kind

450
00:23:48,200 --> 00:23:48,720
of stuff.

451
00:23:49,279 --> 00:23:49,440
Speaker 3: There.

452
00:23:49,720 --> 00:23:52,440
Speaker 1: There may be like a little mini liquidity crisis at

453
00:23:52,480 --> 00:23:54,759
Bruised that could, you know, cause a stock market to

454
00:23:54,799 --> 00:23:56,960
pull back ten or fifteen percent or something like that.

455
00:23:57,000 --> 00:24:00,440
And at that point, again, everybody'd be like, oh, oh, yeah,

456
00:24:00,519 --> 00:24:02,640
here it comes. You know, the SMP is going to

457
00:24:02,720 --> 00:24:05,920
fall fifty percent, and then you know.

458
00:24:06,839 --> 00:24:08,839
Speaker 3: I will just go back. You know, I've been doing

459
00:24:08,839 --> 00:24:11,319
this fourteen years now. You got me beat by a

460
00:24:11,319 --> 00:24:17,880
few years. I started interviewing Martin Armstrong and the Dow

461
00:24:18,200 --> 00:24:21,359
was just under twelve thousand, and he said it's going

462
00:24:21,440 --> 00:24:25,319
up to thirty five, forty two, forty five, all right,

463
00:24:25,359 --> 00:24:28,960
and then in eighteen he said it would hit forty

464
00:24:29,000 --> 00:24:34,319
five somewhere between twenty two and twenty four. Right, it's

465
00:24:34,359 --> 00:24:37,559
just the Dow, I mean, that's not really a representative

466
00:24:37,640 --> 00:24:40,880
basket of the market, but it's still a noteworthy index.

467
00:24:41,440 --> 00:24:44,920
He's been right all along. He's saying sixty five thousand

468
00:24:45,039 --> 00:24:45,920
by thirty two.

469
00:24:46,839 --> 00:24:50,559
Speaker 1: Okay, Hey, I will sure, why not? You know, if

470
00:24:50,559 --> 00:24:54,960
the Fed sets his liquidity issue and they need to

471
00:24:55,000 --> 00:24:57,359
start pumping the cash and they stop taper and they

472
00:24:57,359 --> 00:25:00,519
start QI again and all of a sudden, interest rates

473
00:25:00,519 --> 00:25:02,240
get out of control, and then they go to the

474
00:25:02,359 --> 00:25:05,039
yield curve control and they're just are you going to

475
00:25:05,079 --> 00:25:07,519
make all kinds of reasons as to why you could

476
00:25:07,519 --> 00:25:09,799
get a fifty percent out of the stock market? Sure?

477
00:25:09,960 --> 00:25:13,119
Why not? What? Hey? You know what what nobody ever

478
00:25:13,160 --> 00:25:15,920
talks about? You go back again. Anybody can cherry pick dates,

479
00:25:16,359 --> 00:25:21,039
but you know, the total gaining gold since the year

480
00:25:21,119 --> 00:25:23,160
two thousand or two thousand and one or whatever is

481
00:25:23,200 --> 00:25:27,079
above the S and P. So I think a blended,

482
00:25:27,279 --> 00:25:30,519
balanced portfolio is always a way to go. And you

483
00:25:30,599 --> 00:25:33,759
work some gold into your portfolio is probably a good idea. Hey.

484
00:25:33,799 --> 00:25:37,119
Speaker 3: You know, remember Will Rogers said invest in inflation, it's

485
00:25:37,160 --> 00:25:41,599
the only thing going up, right, And that was.

486
00:25:41,680 --> 00:25:44,440
Speaker 1: Just Oklahoma, Yes, for sure.

487
00:25:44,559 --> 00:25:48,599
Speaker 3: In the twenties. That was so even then. You know,

488
00:25:49,279 --> 00:25:55,519
I do think inflation's inevitable. It should be death taxes

489
00:25:55,640 --> 00:25:56,359
and inflation.

490
00:25:57,559 --> 00:26:02,680
Speaker 1: Yeah, yeah, right, And I've thought since about June of

491
00:26:02,720 --> 00:26:05,519
twenty twenty, I think was when I first started talking

492
00:26:05,519 --> 00:26:09,880
about stagflation being the ultimate outcome of all this seventies

493
00:26:09,960 --> 00:26:16,000
level stagflation where again inflation but very little growth in

494
00:26:16,039 --> 00:26:19,319
the economy. And I as we get deeper into this year,

495
00:26:19,799 --> 00:26:22,400
that that term that you know, you see those charts

496
00:26:22,440 --> 00:26:25,880
sometimes of Google searches, you know, like in washingt d C.

497
00:26:26,119 --> 00:26:28,680
People searching for how do you bleach bit and all

498
00:26:28,720 --> 00:26:30,079
that kind of stuff for a couple.

499
00:26:29,880 --> 00:26:38,200
Speaker 3: Of weeks, countries without extradition treaties exactly wiring wiring money, and.

500
00:26:38,759 --> 00:26:44,440
Speaker 1: Right, you know, people searching, people searching. Stagflation is going

501
00:26:44,519 --> 00:26:46,279
to grow as we go through the year too. And

502
00:26:46,599 --> 00:26:50,160
again what the parallels to the seventies will be negative

503
00:26:50,160 --> 00:26:52,880
real interest rates, you know, where the Fed will be

504
00:26:52,920 --> 00:26:55,960
forced to yield curve control and be doing QWI and

505
00:26:56,000 --> 00:27:00,200
say we're buying all treasuries above whatever four percent. But

506
00:27:00,240 --> 00:27:01,839
the inflation isn't going to be at five or six

507
00:27:01,960 --> 00:27:04,359
or seven or something like that because they have to.

508
00:27:05,440 --> 00:27:09,160
And just like the seventies, it's going to be a

509
00:27:09,279 --> 00:27:12,640
very beneficial time for all commodities, not just Golden Solar.

510
00:27:13,359 --> 00:27:20,039
Speaker 3: Agreed, agreed, no question about it. And well, it's definitely

511
00:27:20,119 --> 00:27:25,640
exciting times here. And man, when we have this discussion

512
00:27:26,759 --> 00:27:29,559
again in a few months, it's going to be totally

513
00:27:29,559 --> 00:27:37,119
different that I know, and you know, it's a it's

514
00:27:37,160 --> 00:27:39,519
a brave new world out there. Hey, so you got

515
00:27:39,559 --> 00:27:43,039
to go over to TF Metals Report dot com and

516
00:27:43,279 --> 00:27:47,640
sign up. I think I think you're lagging the price

517
00:27:47,680 --> 00:27:51,079
of a latte here, Craig. I think the price at

518
00:27:51,079 --> 00:27:56,160
the inflation cafe is going up faster than your subscription fees.

519
00:27:56,799 --> 00:28:00,279
Speaker 1: I I've a loss. I had something I can heard

520
00:28:00,319 --> 00:28:02,000
it to a couple of weeks ago, and I thought, well,

521
00:28:02,000 --> 00:28:03,200
that was pretty good. Iice you remember that.

522
00:28:03,240 --> 00:28:03,319
Speaker 3: Now.

523
00:28:03,359 --> 00:28:05,599
Speaker 1: I can't remember what it was because I'm now pushing

524
00:28:05,680 --> 00:28:09,680
sixty hard. But yeah, I think for you know, for all, oh,

525
00:28:09,720 --> 00:28:12,400
I know what it was. I got my bill. I'm

526
00:28:12,400 --> 00:28:14,279
looking through my visa bill and all of a sudden,

527
00:28:14,400 --> 00:28:17,240
two cars for XM Radio is fifty bucks a month,

528
00:28:17,759 --> 00:28:19,559
twenty five bucks a month just to drive around and

529
00:28:19,599 --> 00:28:22,039
listen to the YouTube channels college sports, and I'm like,

530
00:28:22,359 --> 00:28:25,119
what the hell, I'm only charging fifteen I think that's

531
00:28:25,119 --> 00:28:29,759
a pretty better bargain than satellite radio. So yeah, I

532
00:28:29,759 --> 00:28:32,079
think it's worth it. I don't know if anybody else cause,

533
00:28:32,119 --> 00:28:34,680
but I think it's worth it. So please check us out,

534
00:28:35,200 --> 00:28:37,400
like you said, TF metals Report dot com.

535
00:28:37,480 --> 00:28:39,759
Speaker 3: Yeah, all right, excellent. Hey you got a question for

536
00:28:39,839 --> 00:28:44,720
Craig myself Klatcarrieleuts dot com. Send the email. We'll get

537
00:28:44,799 --> 00:28:47,720
you an answer quick and we have a link to

538
00:28:47,880 --> 00:28:51,599
craig site TF metals Report dot com in the show

539
00:28:51,640 --> 00:28:56,079
notes to this interview on Financial Survival Network dot com.

540
00:28:56,079 --> 00:28:58,200
When you go there, just sign up for your free newsletter.

541
00:28:58,480 --> 00:29:01,720
Over seventy thousand I think seventy five thousand of you

542
00:29:01,839 --> 00:29:05,119
have so far. The numbers have just been escalating like

543
00:29:05,240 --> 00:29:10,359
crazy lately for some reason. Maybe that's a indicator in itself. Greg.

544
00:29:10,440 --> 00:29:12,279
We will talk to you again real soon and then.

545
00:29:12,319 --> 00:29:13,519
Speaker 1: Always by to talk Carrie.

546
00:29:13,880 --> 00:29:18,039
Speaker 2: Thanks for listening to carry Letz's Financial Survival Network, your

547
00:29:18,119 --> 00:29:21,920
solution to today's trying times. For the latest, go to

548
00:29:22,079 --> 00:29:28,000
Financial Survivalnetwork dot com. Financial Survival Network now more than

549
00:29:28,079 --> 00:29:28,359
ever