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Speaker 1: Silver's probably is critical to the world communs oil because

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you can't make a missile without silver.

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Speaker 2: You can't build the internet.

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Speaker 1: Think about if if you had internet issues because you

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didn't have enough silver, And how much business depends on

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the Internet in terms of manufacturing, communications, all of that

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kind of stuff. I mean, you're talking about a threat

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to the global economy.

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Speaker 3: You are listening to Carrie Leutz's Financial Survival Network, where

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

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

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter in gift. Financial

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Survival Network now more than ever.

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Speaker 4: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Charity Letts. Well today it's

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kind of an off day, it's a holiday, but it

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guess market's still open. And man, silver hits another high

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as I'm looking at it right now, ninety four and change.

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And well my next guest, you know, well Robert Kitz. Robert,

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great to have you back on the show. Man. There's like,

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it's unbelievable, what's happening. I mean, I'm not surprised because

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back in May when silver broke thirty two and a half,

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that was when I knew it was going way higher.

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There was no question, And thirty five was the psychological number,

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but thirty two and a half was the technical number.

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And now we're pretty close to one hundred. What is

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the nexus the basis of this run up in silver

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prices from your perspective.

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Speaker 1: Yeah, you know, there's a lot of there. Okay, So

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I wanted to address this a little bit from what's

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going on in social media. So there we'll back up

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a little bit. So silver has been in supply deficit

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for about five years if you look at what the

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miners are putting out versus what the world uses, and

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people like me who are golden silver bugs who've been

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reporting on this for a number of years, have written

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articles about it and done social media about it, and

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for a long time they would say there's a coming

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silver shortage versus coming silver shortage, and people you know,

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would say, yah, yeah, we're fine.

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Speaker 2: They'll just make more.

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Speaker 1: And what people don't understand is most silver comes from

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other minds. Almost three quarters of it comes from other minds,

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like Opera cut. Yeah, byproducts. So it's really hard to

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adjust the amounts of silver produced in mines every year

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to meet demand because really these other minds, like if

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you look at Freeport mcmaran, their massive mind out in Indonesia,

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silver is like not even, it's not even.

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Speaker 2: They could throw it away.

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Speaker 1: It's not even a concern to them compared to what

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they're getting for the other metals are pulling out that

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mind and a lot of other minds which you're mining

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these other metals and silver or maybe a little bits

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of silver and gold come.

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Speaker 2: Out as a byproduct.

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Speaker 1: They're not going to change their production schedules for you know,

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the increase in silver, because it costs them.

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Speaker 2: More to do it.

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Speaker 1: If you're going to spend billions of more dollars world

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wide to mine copper to get some silver out of

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the ground, who's going to pay for the you know

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it would be And plus it costs money to increase mining,

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and it costs capital investment. So the constraint on silver

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really has always been how quickly can you build up

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the primer silver minds it's about twenty seven to twenty

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eight percent of silver output, and how do you butchers

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yourself against the fact that the world is using so

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much silver because we live in a technological world and

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silver is used in everything. Hence why the US made

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it a critical mineral this summer. I mean it's using

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everything carry so so everybody's using it, but the supply

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domin characteristics they're not really manageable.

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Speaker 2: And what we're seeing is like.

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Speaker 1: This realization finally of the world that five years into

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this mining shortage and we've depleted most of the above

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ground stocks that sitting these big exchanges around the world.

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You know, those are coming down to the point in

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which the whole world's figured out, oh crap, we're going

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to be out of silver. And to get more out

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of the ground. If you want to develop a new

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silver mine or any mine that has in gold and

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silver in it, sometimes it takes five to ten years.

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It depends.

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Speaker 2: A lot of these mines are in the middle of nowhere.

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Speaker 1: There's no infrastructure, and it's not a matter of just

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somebody signing a piece of paper and the government approving it.

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You got to build inversts are going to build roads.

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I mean, the investment is is could be billions upon billions.

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Speaker 2: Of dollars, and you know there there are worldwide.

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Speaker 1: Overall, there's a shortage of availability to demand from output.

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But the amount of stock posts we had see on

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exchange is thank goodness, were enough to give us a

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five year le time. And those that were paying attention,

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you know, investors or even countries like in the United

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States noticing the issue are now jumping in it. The

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Trump's administration has committed four billion to silver specifically this

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year one and to buy silver in two and to

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have be in to rebuild the supply chain, which is good.

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It's it's probably five years too late to start doing this,

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but at least they're doing something.

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Speaker 4: Yeah, well, they got to do something, right. I mean,

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it is a vital, vital metal. I mean, life as

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we know it, as somebody once said, would cease to

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exist if we didn't have silver, right.

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Speaker 2: It would.

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Speaker 1: And I've gone as far as the Satan people think

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I'm nuts, and maybe I am, but I said, silver's

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probably is critical to the world communist oil because you

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can't make a missile without silver.

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Speaker 2: You can't build the internet.

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Speaker 1: Think about if if you had internet issues because you

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didn't have enough silver, and how much business depends on

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the internet in terms of manufacturing, communications.

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Speaker 2: All of that kind of stuff.

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Speaker 1: I mean, you're talking about a threat to the global

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it's just become that important.

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Speaker 2: And here in the US.

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Speaker 1: Here and I were talking off air before the recording,

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you know, we were talking about the fact that the

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price of silver has quadrupled in about two ish to

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you know, a little bit two plus years, and I

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don't think it's ever seen that in that short of

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a time in the history. And if you look at

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the chart, it's it's it looks like a blow off.

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And but in the United States, here's the funny thing,

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all of this has occurred without the US retail investor

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getting involved. The US retail investors, it's like they're oblivious.

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I don't know if they're chasing tech socks or bitcoin

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or paying attention to gold.

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Speaker 2: They're not in it.

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Speaker 1: And you know, I was hit my friend's coinshop and

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out in Sebastian, Florida this past week.

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Speaker 2: And he's just opened a couple of months ago.

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Speaker 1: He's a good friend of mine and he's executive victor

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for citizens for some money. And you know, he's gotten

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really in the gold and silver last few years. And

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we're having new people come in and they're buying announce

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or two at a time. But we also at the

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same time people coming in and dropping down five thousand

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dollars bags of constitutional or drunk silver.

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Speaker 2: And it was funny.

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Speaker 1: In Florida, if you bring jewelry in or jewelry pieces

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in because of laws, the customer has to basically give

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a full profile to do that, you know, because of

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theft and stuff.

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Speaker 2: So this guy brought.

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Speaker 1: It this little piece of a gold chain, this big

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and we figured out melt it was worth about forty

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bucks as a fourteen carrot, you know, you figure all

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that out. And so for forty dollars, this guy sat

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there and answered a twenty minute questionnaire. You know people

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are selling but job rags right, yeah, it's it's for

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any coin dealer or pawn shop in Florida. You have

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fill out this this government website. And because of theft

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and things, and they just want to make sure that

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people aren't, you know, pawning off.

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Speaker 2: So anyway, we give him his forty bucks.

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Speaker 1: And I looked at Daniel and I was like, that

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guy just sat there for twenty minutes and answer a

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question for questionnaire for forty bucks. People are still selling

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in you they need money because of inflation is killing

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them and they're selling you know, whatever they got. And

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so we're at ninety five dollars silver without US retail

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even getting involved. And I you know, I'm wondering if

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we actually officially run out of silver before US retail

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pays attention. I mean, is the price is going to

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be two hundred dollars an ounce or you know what's

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going to happen. It's it's the weirdest market. It's not

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like two thousand and twenty eleven.

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Speaker 4: No, no, nothing like that at all. Un Plus, the

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goal to silver ratio, let's not forget that.

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Speaker 1: Yeah, that's I mean right now is sitting at forty nine,

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a little over forty nine to one, and it wasn't

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that long ago, was sitting at one hundred to one.

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So silver's beating gold in terms of return. Well, this

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is kind of normal because gold will go first before

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silver typically. And the signs were there earlier this year

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when you saw people getting into SLV, which is a

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silver ETF. That's a sign that there's some interest, but

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people aren't going to buy the physical. And then you

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saw the premium South American silver Eagles, which is the

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most popular coin, and they and the mint purposely limits

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so is they really shouldn't buy law.

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Speaker 2: But they do.

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Speaker 1: And then I thought, Okay, silver's you know, going to

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start becoming a little bit more popular, and it has.

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Speaker 2: But we're not, you know, we're not sitting in a

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retail suv boom.

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Speaker 4: Yet they're doing ETFs. Man, they're not. They're not really

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buying the physical stuff.

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Speaker 1: Right, They're not yet, And that's it's encouraging, but it's

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also I'm thinking, where's the price going to go?

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Speaker 2: You know?

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Speaker 1: Years ago I had I did an interview at New

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Orleans investment conference with David Morgan. We sat out and

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I did an interview for my channel and I said

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to ultimately, if you look at the debt printing and

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all that, what could gold silver band? When he came

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to silver, he said six hundred dollars an ounce And

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I said, David, do you ever think there that we'll

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ever actually get there or that they'll allow it to

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get there. Because it's so important in the world of comedy,

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they may not want to put like a circuit breaker

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on that, you know what I mean, like they do

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on the stock market. And Roston Benham, who's the CFTC

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Comission at the time few years ago, said he did.

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Speaker 2: They limited silver at thirty.

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Speaker 1: Bucks, but they didn't let it rise, and he came

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out at Bocavian said it because yeah, it's too important

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to a world of comedy. So I don't know if

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we're ever going to get to six hundred dollars silver.

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I don't have a clue, but just looking at its

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importance to the cont and and this is just the

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end strull, I mean, gotten to the monetary demand yet

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at least not in the US. I mean, I don't

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know where it's going to go. It's exciting, it's fun,

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and I'm happy for all those silver stackers for the

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last twenty years have been grumbling about silver hitting it

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anywhere from eleven to twenty dollars and going bouncing back

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around that for twenty years.

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Speaker 4: So, uh, you know, and for retail, if you go

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to sell your silver and you have forty percent or

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ninety percent, they're giving you under spot. And yet in

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China it's it's over one hundred dollars an ounce. Yeah.

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Speaker 1: Here in the US, I a lot of times will

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buy scrap gold and silver because we turn it into

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coins and bars for kinesis it's one of our areas

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of supply, right, we work in all areas of the market,

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and I can buy it under spot, you know, wholesale underspot,

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the Constitutional stuff, and a lot of the three nines,

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the bars and stuff.

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Speaker 4: You know.

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Speaker 2: It may be it's risen lately, but it was cheaper now.

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Speaker 1: I think a lot of the big sites are listing

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coins and bars, you know.

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Speaker 2: Yeah, wholesale three.

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Speaker 1: Bucks overspot, retail seven eight bucks overspot. But that's that's

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just happened in the last week.

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Speaker 4: Yeah, I knew it was going to happen, which is why,

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like things like war nickels turned out to be asymmetric

242
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plays because three weeks ago you could buy them twenty

243
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to thirty percent under melt right. Yeah, and soon they'll

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be trading at a premium like everything else. Because we're

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talking about shortages here. We're physical shortages. We're not talking

246
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about paper, We're not talking about you know, temporary dislocations. Here,

247
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it's demand driven. Yeah, there's certainly a monetary aspect to

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it to some extent, but fundamentally this is a demand

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driven increase, right.

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Speaker 1: It is, and again without US retail participating, and it's okay.

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People are talking about is the comics broken? And I

252
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have to explain this for just where your spot price

253
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comes from. Is this paper market and it's traded you

254
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know up in back East as we say, in the

255
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financial markets, and that trade is what determines spot price.

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But it's it's a it's a gamble on what silver

257
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is going to be two to three months in the future.

258
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It's a futures market. You play, you buy a contract

259
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three or four months in the future and impending on

260
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what happens to you to make money or lose money.

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And a lot of big banks are in on this

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and that has really controlled the spot price for a

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long time. And it wasn't a function of physical demand,

264
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whether it be monetary or a need for you know

265
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silver in our industry. And people say, well it could

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it break and could the comic shut down? No, because

267
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the way that the comex trades is they have liquidation

268
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and forced cash settlement to where they don't they don't.

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Speaker 2: It's it's not really a delivery market, and.

270
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Speaker 4: It's a hedge market, that's what it is.

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Speaker 1: It's an edge and to some extent like a gambling casino,

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much like the stop market can be. I mean you

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there are people that buid up prices of stocks all

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the time. You know how that works. But you know,

275
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so that's not going to hardbreak or default, and it

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didn't need to for soilver to go to ninety five.

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And so I'm trying to get people's eyes off of

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that market and say that's not you know, that's that's

279
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not the focus. The focus now is that silver and

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gold are trading more to their physical supply and demand,

281
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and that switch is leading those those markets, and that's

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a good thing. I would even say, if we talk

283
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about gold here for a minute, that that go you know,

284
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in mid twenty twenty four, about July August timeframe, Gold separate.

285
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Gold have been trading from twenty twenty, twenty twenty four

286
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almost in line with the CPI, with some exceptions. But

287
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if you charted it out to CPI, which is the

288
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government version of inflecation, goals pretty close. And it broke

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away a mid twenty twenty four, broke away from the dollar,

290
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it broke away from oil, it broke away from all

291
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commodities and inflation and gold. I think things are being

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traded in gold now. I think gold is the new

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not the official.

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Speaker 2: Monetary ass of the world.

295
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Speaker 1: But the unofficial monetary asset, the central banks have it

296
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bazl through all that kind of stuff. They've capitalized the

297
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central banks with tons of gold. There was more gold

298
00:14:13,279 --> 00:14:15,080
bought by central banks in twenty twenty five at any

299
00:14:15,080 --> 00:14:17,879
time in history, and that's been going on since twenty eleven.

300
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And so gold has separated and it's becoming a monetary

301
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asset and things are going to be measured in gold.

302
00:14:24,159 --> 00:14:26,519
So when you look at what's gold value, it doesn't

303
00:14:26,559 --> 00:14:28,519
really matter look at in terms of the dollar. It's

304
00:14:28,559 --> 00:14:31,279
what is it to oil? What is it to you know,

305
00:14:31,360 --> 00:14:35,279
other things that we use. And silver hasn't quite entered

306
00:14:35,320 --> 00:14:38,840
that phase yet, the monetary phase, you know, but if

307
00:14:38,879 --> 00:14:41,279
it gets down to like say a fifteen to twenty

308
00:14:41,440 --> 00:14:43,879
to one ratio gold to silver, and silver rises out high,

309
00:14:44,000 --> 00:14:45,759
now we're going to be talking about silver is like

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00:14:45,799 --> 00:14:49,919
a monetary asset. And I don't think that's too far away,

311
00:14:50,039 --> 00:14:52,240
you know, maybe a here or two away from maybe

312
00:14:52,240 --> 00:14:52,759
even sooner.

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Speaker 2: Who knows.

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00:14:54,960 --> 00:14:57,279
Speaker 1: The run we've been on, it's been astounding, and I

315
00:14:57,320 --> 00:15:00,200
think retail's coming soon because you've seen TD Security and

316
00:15:00,279 --> 00:15:03,200
Bank of America start talking about it. It's starting just

317
00:15:03,799 --> 00:15:05,759
very early stages of it starting to be talked about

318
00:15:05,759 --> 00:15:07,919
in the financial media, but are very early stages. We're

319
00:15:07,960 --> 00:15:08,840
not in a bubble for sure.

320
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Speaker 4: Well, you know, my most profitable investment and I'm like

321
00:15:13,679 --> 00:15:19,000
embarrassed to say it, not really, but is AGQ the

322
00:15:19,200 --> 00:15:24,399
double leverage the ETF? Even though I believe that ETFs

323
00:15:24,399 --> 00:15:28,919
are just money furnaces in general, when you catch a

324
00:15:29,000 --> 00:15:34,200
trend on a double leverage ETF, it's rocket fuel. Yeah.

325
00:15:34,240 --> 00:15:36,720
Speaker 1: And the funny thing is there's a triple short of

326
00:15:36,759 --> 00:15:39,879
silver and you should see that charts exact opposite.

327
00:15:39,919 --> 00:15:43,039
Speaker 2: It's probably somewhat close to zero at this point. I

328
00:15:43,039 --> 00:15:44,559
feel sorry for people who have to put money into

329
00:15:44,559 --> 00:15:44,879
that one.

330
00:15:46,000 --> 00:15:46,200
Speaker 3: Yeah.

331
00:15:46,240 --> 00:15:48,639
Speaker 4: Well, if it's part of a hedging strategy, you might

332
00:15:48,679 --> 00:15:53,840
be able to justify it. But you know, I think

333
00:15:53,879 --> 00:15:58,320
there was a triple upside silver ETF, but I didn't

334
00:15:58,360 --> 00:16:01,360
trust that one. It wasn't the quid enough probably is

335
00:16:01,480 --> 00:16:05,039
now get it. But you know, then you just take

336
00:16:05,039 --> 00:16:08,639
your profits from your ETF and buy the physical right.

337
00:16:08,919 --> 00:16:12,320
Speaker 2: Mm hmm, Yeah, I mean that's that's what smart people do.

338
00:16:12,360 --> 00:16:14,039
Speaker 1: The ETFs aren't going to give you the silver the

339
00:16:14,039 --> 00:16:17,679
way that their perspectuses are written you're not gonna get

340
00:16:17,720 --> 00:16:19,720
access to it yet. To be you have to be

341
00:16:19,720 --> 00:16:21,480
one of the big market makers, and the market makers

342
00:16:21,480 --> 00:16:23,240
they only have access to it because they have to

343
00:16:23,240 --> 00:16:27,519
supply the silver to back up the trade. So it's

344
00:16:27,559 --> 00:16:30,559
not a retail silver play. You can get price exposure,

345
00:16:30,600 --> 00:16:33,559
but personally, you know, if we're going into real shortages

346
00:16:33,600 --> 00:16:36,080
of silver, I'd rather have the physical because you can

347
00:16:36,159 --> 00:16:37,759
just go down and sell it at your coinshop or

348
00:16:37,759 --> 00:16:38,440
whatever the case may be.

349
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Speaker 2: We don't want the money, yeah or yeah.

350
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Speaker 4: It's so interesting. Silver is fascinating. You're a little younger

351
00:16:46,120 --> 00:16:49,720
than me, Rob, but I remember when they demonetize silver,

352
00:16:49,840 --> 00:16:54,240
the final demonetization in sixty five, and my good friend

353
00:16:54,559 --> 00:16:57,120
David Morgan referred to it for the first time I

354
00:16:57,159 --> 00:17:01,960
ever heard as Johnson slugs, and I wrote an article

355
00:17:02,080 --> 00:17:04,920
the reason, you know, the reason they kept forty percent

356
00:17:05,000 --> 00:17:10,480
silver in Kennedy half dollars a lot of the funny

357
00:17:10,519 --> 00:17:14,599
this is why I love these little anomalous coins. The

358
00:17:14,759 --> 00:17:19,799
reason they did it was because the sixty fours that

359
00:17:19,920 --> 00:17:23,119
was the last year they were ninety percent silver, none

360
00:17:23,200 --> 00:17:28,039
of them hit circulation. They were all hoarded everybody because

361
00:17:28,480 --> 00:17:31,720
it was a memento of President Kennedy, who was so

362
00:17:31,920 --> 00:17:35,240
loved by many in the country. For whatever reasons, we

363
00:17:35,279 --> 00:17:39,759
don't talk politics here. This is a family show. But

364
00:17:41,279 --> 00:17:46,640
then they demonetize the coinage. They take the silver out

365
00:17:46,680 --> 00:17:49,640
in sixty five, but they said, we can't take it

366
00:17:49,680 --> 00:17:54,599
out of the Kennedys because that'll be cheapening Kennedy's image.

367
00:17:55,319 --> 00:17:59,880
So forty percent was the lowest amount they keep in

368
00:18:00,279 --> 00:18:05,319
that it would still ring sad like silver, still look

369
00:18:05,440 --> 00:18:10,559
like silver until it oxidizes. Where you know, when a

370
00:18:10,640 --> 00:18:16,960
forty percent silver dollar oxidizes, half dollar rather oxidizes looks

371
00:18:17,079 --> 00:18:22,000
nothing like a ninety percent half dollar, right, Totally different

372
00:18:22,240 --> 00:18:27,720
patterns of oxidation, And I just found that fascinating. The

373
00:18:27,759 --> 00:18:33,759
other thing I love is forty percent Eisenhower dollars, which

374
00:18:33,799 --> 00:18:38,400
were parts of proof sets sold by the Mint. But

375
00:18:38,480 --> 00:18:42,920
it's an anomaly and the same there's actually nineteen seventy

376
00:18:43,000 --> 00:18:47,519
six s forty percent quarters because that's from the bi

377
00:18:47,640 --> 00:18:55,440
centennial Mint set that proof and proof and uncirculated sets

378
00:18:55,440 --> 00:18:59,000
that were sold by the Mint. So you have these

379
00:18:59,039 --> 00:19:02,400
anomalous things. To me, it's like a war nickel, which

380
00:19:03,240 --> 00:19:06,359
is thirty five percent silver. There's eighty percent of the

381
00:19:06,839 --> 00:19:10,480
silver and a war nickel, as there is in a

382
00:19:10,519 --> 00:19:14,160
pre nineteen sixty five dime, and yet one is a

383
00:19:14,240 --> 00:19:19,240
nickel and the other is a dime. It's anomalist, but

384
00:19:19,359 --> 00:19:21,519
it happened during World War Two because there was a

385
00:19:21,559 --> 00:19:24,680
shortage of nickel and the only way they could keep

386
00:19:24,720 --> 00:19:31,279
the weight consistent with for vending machines and parking meters

387
00:19:31,279 --> 00:19:34,960
and such was to mix in some silver and manganese.

388
00:19:35,079 --> 00:19:40,079
They had to really, you know, metallurgically figure that kind anyway,

389
00:19:40,079 --> 00:19:43,839
It's just my little quirk. I love anomalies, things that

390
00:19:44,440 --> 00:19:47,480
exist that shouldn't exist, and yet here they are.

391
00:19:49,079 --> 00:19:50,920
Speaker 2: Yeah, it's a it's a fascinating market.

392
00:19:51,000 --> 00:19:53,920
Speaker 1: And it's fascinating how silver was such an abundance during

393
00:19:53,920 --> 00:19:55,519
the war and it was nickel and now we're turning

394
00:19:55,559 --> 00:19:58,319
to help. So it's just a change world and silver

395
00:19:58,359 --> 00:20:01,000
has become so important. One other thing I wanted to

396
00:20:01,000 --> 00:20:04,599
point out to people is the US Mint had a

397
00:20:04,640 --> 00:20:07,279
one to two month lead time on new American Silver

398
00:20:07,279 --> 00:20:10,480
Eagle production, and it's it's the most popular coin because

399
00:20:10,480 --> 00:20:13,440
it's it represents Americas. Americans are going to buy American

400
00:20:13,440 --> 00:20:15,240
coins right, no tax on.

401
00:20:15,359 --> 00:20:20,680
Speaker 4: It, also, no no gains tax. There's a whole host

402
00:20:20,720 --> 00:20:23,319
of reasons why Americans prefer to hold them.

403
00:20:23,839 --> 00:20:27,200
Speaker 1: Yeah, and so the US MINT is supposed to by law,

404
00:20:27,759 --> 00:20:29,319
and there's a section of law where it says that

405
00:20:29,319 --> 00:20:31,640
they're supposed to produce these silver eagles as much as

406
00:20:31,640 --> 00:20:35,519
people want. And a couple of years ago, Vix Weir,

407
00:20:36,319 --> 00:20:41,599
who has a channel, he was interviewing me, was interviewing

408
00:20:41,680 --> 00:20:43,599
the guy that ran the MINT and developed the silver

409
00:20:43,640 --> 00:20:45,359
Ego program. He was there thirty five years. He was

410
00:20:45,359 --> 00:20:46,000
still there at the time.

411
00:20:46,039 --> 00:20:47,359
Speaker 2: In the interview. I don't know if he still is.

412
00:20:47,839 --> 00:20:50,200
Speaker 4: Uh can remember this, Yeah, And.

413
00:20:50,599 --> 00:20:54,160
Speaker 1: The guy said, my bosses came to me and said

414
00:20:54,200 --> 00:20:57,039
how many we can we produce without people crying about

415
00:20:57,079 --> 00:20:59,599
there not being enough, so that we can ship production

416
00:20:59,680 --> 00:21:02,240
to these proof coins. And the reason they wanted proof

417
00:21:02,240 --> 00:21:05,559
coins was to make money. So the proofs sell sometimes

418
00:21:05,599 --> 00:21:07,519
two to three more depending on the quality and all

419
00:21:07,559 --> 00:21:09,359
that kind of stuff. Well, they're not supposed to do that,

420
00:21:09,599 --> 00:21:12,160
it's not legal, but it did anyway, because meant, you know,

421
00:21:12,200 --> 00:21:14,640
wanted to make money, had different leadership in there, and

422
00:21:14,680 --> 00:21:16,920
they were running it like a business instead of anyway,

423
00:21:17,559 --> 00:21:19,480
long story short, Now the US.

424
00:21:19,440 --> 00:21:20,079
Speaker 2: MINT is saying they have.

425
00:21:20,079 --> 00:21:22,480
Speaker 1: I wanted too much league time before new eagles, and

426
00:21:22,480 --> 00:21:24,599
they're not out of silver. They can get silver, sunshine,

427
00:21:24,599 --> 00:21:28,799
Mint can can get them more soever if they needed. Yeah,

428
00:21:28,839 --> 00:21:32,039
but they've limited and then they've released their proof series

429
00:21:32,039 --> 00:21:34,759
in there twice as much. And so I just want

430
00:21:34,759 --> 00:21:36,440
people to know that there will be a time at

431
00:21:36,440 --> 00:21:38,359
which you will be able to see new American silver

432
00:21:38,440 --> 00:21:41,079
regle the regular ones come out at the regular prices,

433
00:21:41,640 --> 00:21:45,160
that this isn't the end of American silver eagles, and

434
00:21:45,200 --> 00:21:48,519
that the Mint is basically shifted production to the proofs,

435
00:21:48,599 --> 00:21:51,279
you know, to make the money. But if you see

436
00:21:51,559 --> 00:21:53,799
American silver egal, that's either a proof or it's in

437
00:21:53,839 --> 00:21:56,000
a slab, it's a graded coin, and it's trading for

438
00:21:56,039 --> 00:21:58,400
one hundred and eighty bucks, that's not the new price

439
00:21:58,440 --> 00:22:00,480
of the American silver go new. People getting into this

440
00:22:00,880 --> 00:22:03,640
or being told this on social media, and that's not true.

441
00:22:04,000 --> 00:22:05,599
Speaker 2: Yeah, now you can buy those.

442
00:22:06,119 --> 00:22:09,400
Speaker 1: There is a secondary market for collectible silver egle, grade

443
00:22:09,480 --> 00:22:12,920
ed or proof coins, but just be aware if they

444
00:22:12,920 --> 00:22:14,519
don't hold the same value. I used to run a

445
00:22:14,519 --> 00:22:16,160
shot and people bring these into me and it may

446
00:22:16,160 --> 00:22:18,519
be worth seventy five and I'd pay them fifty to

447
00:22:18,519 --> 00:22:20,240
sixty and they'd say why, and I said, because that

448
00:22:20,240 --> 00:22:22,640
market moves around so much, is a risk to me

449
00:22:22,759 --> 00:22:23,599
to poll actility?

450
00:22:24,240 --> 00:22:25,880
Speaker 2: Yeah, because it's all collectible.

451
00:22:25,480 --> 00:22:28,599
Speaker 1: Value and it's not a nineteen thirty three gold coin

452
00:22:28,680 --> 00:22:30,200
or one of these old coins which is limited. They

453
00:22:30,240 --> 00:22:32,359
can make as many as they want. So just so

454
00:22:32,400 --> 00:22:34,680
people understand, if you go to the us MIT's website,

455
00:22:34,720 --> 00:22:36,640
they're only going to have the more expensive ones right now.

456
00:22:36,640 --> 00:22:39,680
They are collectible set what I call semi collectible, and

457
00:22:39,720 --> 00:22:43,200
it's collectible only inasmuch as the original price that the

458
00:22:43,240 --> 00:22:45,039
mint wants to issue it. But since they can make

459
00:22:45,079 --> 00:22:46,839
as many as they want, it's not necessarily going to

460
00:22:46,880 --> 00:22:49,880
hold that back. So if you want American silver eagles,

461
00:22:49,920 --> 00:22:54,119
see if you can get the regular, unslabbed, unproof ones first.

462
00:22:54,640 --> 00:22:56,599
And if you can't, and I recommend to people buy

463
00:22:56,680 --> 00:22:59,720
other sovereign coins like the Mate Beliefs you know, which

464
00:22:59,720 --> 00:23:02,640
are which are also very good coins, but they're you know, again,

465
00:23:03,480 --> 00:23:05,119
the great thing about this market carriers we have a

466
00:23:05,160 --> 00:23:06,839
lot of new people getting involved, but there's also a

467
00:23:06,880 --> 00:23:07,720
lot of misinformations.

468
00:23:07,720 --> 00:23:09,200
Speaker 2: I just want people, if you're getting to such mean

469
00:23:09,200 --> 00:23:09,680
and you're seeing this.

470
00:23:09,839 --> 00:23:12,599
Speaker 1: Just be careful with what you're seeing out there, and

471
00:23:12,839 --> 00:23:14,599
be careful of what you're buying and what price you're

472
00:23:14,599 --> 00:23:15,160
buying it at.

473
00:23:16,200 --> 00:23:18,680
Speaker 4: I never bought a mint or a proof set in

474
00:23:18,720 --> 00:23:25,160
my life, okay, but three months ago on eBay, they're

475
00:23:25,160 --> 00:23:30,079
a nollaly formed where people were selling proofs nineteen ninety

476
00:23:30,160 --> 00:23:36,400
nine through two thousand and eight, and the melt value

477
00:23:37,079 --> 00:23:42,599
was actually greater than the price they were asking for

478
00:23:42,640 --> 00:23:46,640
the Ruth's laws because silver had shot up. But how

479
00:23:46,759 --> 00:23:51,599
much people put them on revolving sale, you know, it

480
00:23:51,680 --> 00:23:55,079
might only be five to ten percent less, but then

481
00:23:55,079 --> 00:23:57,400
when you added in the face value of the non

482
00:23:57,519 --> 00:24:01,200
silver coins, you were up like ten twelve percent on

483
00:24:01,279 --> 00:24:03,640
some of them. So I bought three or four sets.

484
00:24:03,880 --> 00:24:07,240
I never bought a mid proof in my life because

485
00:24:07,279 --> 00:24:11,440
it's basically, you know, twenty years from now, thirty years

486
00:24:11,440 --> 00:24:15,000
from now, it becomes valuable, but right now it's not.

487
00:24:15,880 --> 00:24:19,720
And the you know, and to me, I'm into the

488
00:24:20,160 --> 00:24:22,880
I'm into the content, I'm into the weight. I'm not

489
00:24:23,160 --> 00:24:27,680
into the you know, collectibility of it, because that comes

490
00:24:27,680 --> 00:24:28,920
and goes, right.

491
00:24:29,599 --> 00:24:31,240
Speaker 2: Yeah, it sure does.

492
00:24:31,279 --> 00:24:33,759
Speaker 1: Collectible coins at times can do very well. I would

493
00:24:33,759 --> 00:24:35,599
say if you're ever. If you're going to do collectible coins,

494
00:24:35,599 --> 00:24:37,319
first you have to read a lot. Please read, buy

495
00:24:37,319 --> 00:24:39,799
a book, buy a collector's book, and get yourself educated

496
00:24:39,839 --> 00:24:40,799
before you ever buy one.

497
00:24:41,160 --> 00:24:42,599
Speaker 2: But the best collectibles I ever bought were.

498
00:24:42,559 --> 00:24:45,160
Speaker 1: Pre nineteen thirty three goal coins because they were the

499
00:24:45,160 --> 00:24:47,799
money of the realm. They were limited in quantity, and

500
00:24:47,799 --> 00:24:50,000
if you bought something that was graded slabbed by a

501
00:24:50,000 --> 00:24:53,920
professional greater and it was rare, it would hold its value.

502
00:24:53,920 --> 00:24:56,039
And I did very well on those I made. I

503
00:24:56,039 --> 00:24:58,359
made a really nice profit when I sold it years later.

504
00:24:59,079 --> 00:25:01,240
But not all areas of that market are like that.

505
00:25:01,359 --> 00:25:04,200
Just be careful with the collector's market. Now that prices

506
00:25:04,240 --> 00:25:06,400
are up, you know you're going to see those collector's

507
00:25:06,440 --> 00:25:08,599
coins come out. People are trying to sell them to you.

508
00:25:08,599 --> 00:25:10,119
There's a reason why I sould just be you know,

509
00:25:10,240 --> 00:25:10,920
be aware of that.

510
00:25:11,599 --> 00:25:15,559
Speaker 4: Yeah, I agree. All right. Well, hey, so when we

511
00:25:15,599 --> 00:25:18,960
have this conversation we talk in three six months, what's

512
00:25:18,960 --> 00:25:20,960
your expectation for the silver price.

513
00:25:21,920 --> 00:25:24,599
Speaker 1: Well, there's so many factors going on. I'm gonna hedge

514
00:25:24,599 --> 00:25:26,640
it a bit. I did a video where one hundred

515
00:25:26,640 --> 00:25:30,200
and fifty dollars solver this year The only thing that

516
00:25:30,240 --> 00:25:34,960
could stop that is even though the physical.

517
00:25:34,599 --> 00:25:36,319
Speaker 2: Market is starting to take over, the DRIVETI price is

518
00:25:36,359 --> 00:25:37,200
still have an impact.

519
00:25:37,839 --> 00:25:40,160
Speaker 1: So if we go into like a stock market swoon,

520
00:25:40,640 --> 00:25:42,799
whenever that happen, whenever we go in the next recession,

521
00:25:43,160 --> 00:25:47,720
liquidation yeah, yeah, liquidation of those contracts in the price

522
00:25:47,759 --> 00:25:49,839
will come down. So just expect at least at some

523
00:25:50,039 --> 00:25:53,799
point we're going to have a correction. Excuse me, and

524
00:25:53,839 --> 00:25:55,880
that's true in all all markets. Markets don't go straight

525
00:25:55,920 --> 00:25:58,279
up forever, so expect that there will be a correction.

526
00:25:58,559 --> 00:26:01,640
It may be fifteen, twenty percent, thirty percent correction. I

527
00:26:01,720 --> 00:26:04,720
don't think it's permanent because of the demand for the physical,

528
00:26:05,200 --> 00:26:08,200
but just know that when you buy it now, maybe

529
00:26:08,240 --> 00:26:09,559
it goes to one hundred and fifty, maybe it goes

530
00:26:09,599 --> 00:26:10,839
to two hundred, but at some point it's going to

531
00:26:10,839 --> 00:26:12,599
pull back. So just be aware as you're buying, as

532
00:26:12,640 --> 00:26:15,000
you're getting in and buying up you know a dollar

533
00:26:15,039 --> 00:26:17,519
cost average way, and understand that you can't call the peek,

534
00:26:17,599 --> 00:26:21,279
and nobody's really good at calling the tops, or they're

535
00:26:21,279 --> 00:26:22,720
not necessarily good at calling.

536
00:26:23,119 --> 00:26:24,960
Speaker 2: How long you're going to be in a pullback?

537
00:26:25,839 --> 00:26:28,599
Speaker 1: There are millions millions of people trading these markets, but

538
00:26:28,640 --> 00:26:30,920
just expect it's going to happen. You know, if we

539
00:26:30,920 --> 00:26:32,400
didn't I set up my video, if we don't hit

540
00:26:32,440 --> 00:26:35,319
one hundred fifty dollars silver in twenty twenty six, I

541
00:26:35,359 --> 00:26:36,599
would be absolutely shocked.

542
00:26:37,680 --> 00:26:42,200
Speaker 4: Yeah, well, one thing I'm seeing here in this market,

543
00:26:42,279 --> 00:26:44,920
and I know you follow it like me. After you

544
00:26:45,000 --> 00:26:48,079
have a big increase like today we have four and

545
00:26:48,119 --> 00:26:53,079
a half bucks and last week, I think it was Wednesday,

546
00:26:53,200 --> 00:26:59,960
we had five, then they instantly get slammed on COMEX instantly,

547
00:27:00,359 --> 00:27:04,240
like right, I mean, we're not imagining this. It happens.

548
00:27:04,759 --> 00:27:10,240
But the rebound from the Comex slam is so quick now.

549
00:27:10,599 --> 00:27:14,119
It used to take months when we had a major slam,

550
00:27:14,720 --> 00:27:18,480
or even weeks. Then it went to days. Now it's

551
00:27:18,599 --> 00:27:19,720
it's almost ours.

552
00:27:20,119 --> 00:27:24,160
Speaker 1: It's ours, that's exactly right. And you know the silver trains,

553
00:27:24,440 --> 00:27:27,880
it's it's left the depot. It's I don't to get

554
00:27:28,039 --> 00:27:30,640
enough silk, especially if we go to more wars, because

555
00:27:30,680 --> 00:27:33,359
wars just multiply the need for silver. There are one

556
00:27:33,400 --> 00:27:35,559
hundreds ounces used in missiles and we don't know the

557
00:27:35,599 --> 00:27:37,599
exact amount, but I've seen various estimates and.

558
00:27:37,559 --> 00:27:41,880
Speaker 4: I've heard eighty for a cruise missile. I've studied it.

559
00:27:41,880 --> 00:27:44,240
It's actually in the batteries, but I've heard as much

560
00:27:44,319 --> 00:27:47,279
as seven eight hundred. I think it's closer to eighty,

561
00:27:47,319 --> 00:27:51,599
but eighty is still that's a lot of that's eight

562
00:27:51,640 --> 00:27:56,079
thousand bucks almost. The silver that just vaporizes into thin air.

563
00:27:57,079 --> 00:27:59,519
Speaker 1: It does, and it's used in all their communication equipment.

564
00:27:59,640 --> 00:28:02,559
So silver, I think at this point, is going to

565
00:28:02,559 --> 00:28:03,960
be impervious to a recession.

566
00:28:04,319 --> 00:28:09,880
Speaker 4: It's in this is this, Yeah, well, every piece of

567
00:28:10,039 --> 00:28:13,640
equipment on my desk here, it's all used in medicine.

568
00:28:14,319 --> 00:28:14,880
It's used.

569
00:28:15,319 --> 00:28:18,160
Speaker 1: My girlfriend's a nurse and she's like all the band

570
00:28:18,200 --> 00:28:20,079
aids we use in the hospital and the wraps are

571
00:28:20,079 --> 00:28:24,920
all and you'll get silver because they're antimicrobial. So silver

572
00:28:25,000 --> 00:28:27,880
is used in everything. It's indispensable. So I don't We're

573
00:28:27,880 --> 00:28:30,200
never going to see twenty dollars silver again in my lifetime.

574
00:28:30,200 --> 00:28:30,759
Speaker 2: I don't think.

575
00:28:31,240 --> 00:28:33,559
Speaker 1: I mean, it's possible that they find a big new

576
00:28:33,640 --> 00:28:35,000
trope somewhere and they mine it.

577
00:28:35,079 --> 00:28:35,720
Speaker 2: I just doubt it.

578
00:28:35,759 --> 00:28:41,359
Speaker 4: Ocean ocean mining is really the only thing I mean, yeah, yeah, well,

579
00:28:41,440 --> 00:28:44,319
let's not even talk about mining anyway. Rob tell Us

580
00:28:44,359 --> 00:28:46,359
the best place to find your work, how to connect

581
00:28:46,400 --> 00:28:47,240
with you on the web.

582
00:28:47,519 --> 00:28:49,640
Speaker 1: It just go the Freedom Report on social So I'm

583
00:28:49,640 --> 00:28:51,160
on substack, Twitter and YouTube.

584
00:28:51,200 --> 00:28:52,720
Speaker 2: Just look up the Freedom Report and you'll find me.

585
00:28:52,920 --> 00:28:55,400
Speaker 4: All right, Hey, I'm on substack too. Best move I

586
00:28:55,480 --> 00:28:58,319
ever made. It totally got rid of the need to

587
00:28:58,400 --> 00:29:03,200
have a website updates. I mean, my website was costing

588
00:29:03,240 --> 00:29:07,359
me thousands of dollars a month webmaster and now substack

589
00:29:07,480 --> 00:29:10,799
does it all. I about there as well. I will

590
00:29:10,880 --> 00:29:15,000
recommend you, you recommend me, and I've get some subs.

591
00:29:15,039 --> 00:29:19,880
I'm up to over well, I was over fifty thousand

592
00:29:19,920 --> 00:29:22,960
subs a little bit under right now. I mean, the

593
00:29:23,000 --> 00:29:27,519
community's huge. It's just the best thing. I can't say

594
00:29:27,599 --> 00:29:30,440
enough good things about it and your work as well.

595
00:29:30,759 --> 00:29:32,319
We will talk to you again soon. You've got a

596
00:29:32,359 --> 00:29:36,599
question or comments, rub shoot me an email Klatcarrie Lets

597
00:29:36,680 --> 00:29:39,039
dot com. Rob We'll talk to you in a few

598
00:29:39,039 --> 00:29:40,720
months and see where this thing goes.

599
00:29:40,920 --> 00:29:41,880
Speaker 2: All right, sounds good.

600
00:29:42,079 --> 00:29:46,240
Speaker 3: Thanks for listening to Carrie Let's's Financial Survival Network, your

601
00:29:46,319 --> 00:29:50,160
solution to today's trying times. For the latest, go to

602
00:29:50,319 --> 00:29:56,559
Financial Survivalnetwork dot com. Financial Survival Network now more than ever,