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Speaker 1: We're starting to see mainstream interests come into the sector,

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and a third consecutive blowout quarter is going to get

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these fund managers really interested in this sector, especially if

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the stock market starts to.

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Speaker 2: Roll over in earnest.

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Speaker 1: It's starting to roll over here today, and you know,

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investors are going to look for something to rotate their

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incredibly huge AI gains into something that is undervalued. And

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I don't think there's very many sectors out there more

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undervalue than gold stocks. To pipe the gold price being

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up thirty four percent this year and trading at all

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time highs over twenty seven hundred dollars an hours.

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

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

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

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and get Financial

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Survival Network now more than ever.

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Speaker 2: And welcome.

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Speaker 4: You are watching and listening to the Financial Survival Network.

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I'm your host, Carrie lutz Well gold broke twenty seven

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hundred the other day silver silver was up there thirty

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five dollars silver just a hair's breath away. Well, let's

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find out exactly what's going on, because we talked about

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this a couple of months back with David Earfley Junior

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Minor Junkie dot com and if you've got a question

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with David myself, email kl at Karrie Lutz dot com.

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David as always welcome back. So the market's kind of

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got new life in it since silver started taking off.

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Speaker 1: Yeah, thanks, Kerry. Always great to be on the program

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with you.

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Speaker 2: Yeah.

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Speaker 1: I mean we've been we've been expecting this to happen,

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but it's always the timing, right, we just didn't know when.

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And sure enough, it was the silver price that triggered everything.

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And thirty two point fifty was really strong resistance in

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silver for quite a while, and a couple of weeks

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ago the gold price had an eighty dollars correction and

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finally start and we saw some selling in the miners,

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more selling in the miners than you would expect. But

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at the time, excuse me, the miners were consolidating in

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a bullish flag and a four week bullish flag from

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a huge move in early September. In early September, we

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saw GDX and GDXJ go up double digits in one week,

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so that move had to consolidate, and it was consolidating

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there for four weeks, and that during that eighty dollars

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correction in the gold price, the miners broke down out

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of that flag intra week and ke came down to

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test their fifty day moving averages. Well, they moved right

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back up into that bull flag and it was it

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was pretty much a bear trap. And at the same time,

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the SIL and sil J made a fifty two week

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high made fifty two week highs that week, while GDX

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and GDXJ did not, And this was taking place while

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silver was still showing relative weakness to gold. So that

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was a little tell that silver was about to break

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out because the miners were signaling that silver was finally

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about to break that thirty two to fifty dollars ceiling,

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and it certainly did the following week we had and

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matter of fact, yesterday silver closed at thirty five dollars,

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which was the next resistance level. It went up there

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really quickly. That's what happens when silver moves in both directions,

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it moves really quickly. So and also we've had now

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we've had a breakout above that resistance, above that multi

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year resistance. When the miners were flagging, they were flagging

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below multi year resistance and forty in the GDX and

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forty nine and the GDXJ, and they broke out simultaneously

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with the silver price. See when you've seen basically you

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saw that gold move. When gold broke out about twenty

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one hundred ran to twenty five hundred, it did not

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take gold stocks and the miners with it. Gold stocks

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and the miners continue to lag. I think the reason

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for that is that the major reason for the gold

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price breaking out was central banks buying gold, and central

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banks don't buy gold stocks and they don't buy silver,

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so those were lagging. So we needed we needed basically

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the miners to break out of those strong resistance levels

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at the same time as silver was breaking out of

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the strong resistance.

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Speaker 2: And that's indeed what's.

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Speaker 1: Happened, and it's also brought in a lot of mainstream

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activity into into the gold price. You've seen now you're

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seeing West investors buying gold ETFs, even though that China

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has stopped buying for the past five months. You see,

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when the gold price got too high, China stop buying.

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They were buying when it was cheap, and now the

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Western investors are pretty much taking up that slack for

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the past five months.

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Speaker 4: So I guess the question everyone's asking is, now that

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we've had these breakouts, will it will gold and silver

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again seek to frustrate the majority of investors like they

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always do.

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Speaker 2: Well.

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Speaker 1: I don't see that happening. I see weakness continuing to

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be bought now that these strong resistance levels are trying

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to become floors, especially now that you're finally seeing some

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mainstream retail investment coming into the sector. That was the

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big thing that was lacking in this sector was that

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the main was basically retail who left this sector about

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twelve years ago. When gold breakdown broke down below fifteen

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hundred back in twenty thirteen, that pretty much took the

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generalists out of the sector, and especially out of the

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mining sector, and even more especially out of the junior sector.

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The juniors have been wallowing around at really depressed levels

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despite the gold price rising to nearly twenty eight hundred

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dollars now. But recently we've seen that change. We've seen

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since the GDX, GDX and GDXJ broke out above those

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strong resistance levels. Last week, we're seeing we're seeing a

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lot of juniors do the same, and we're seeing lagging

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juniors starting to break out of a strong accumulative bases

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at much lower levels. So the juniors still have a

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lot of catching up, even though the miners still have

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a lot of catching up to the gold price. I mean,

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the GDX still has about twenty five percent to get

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higher to go to reach its twenty eleven peak when

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gold was still well below two thousand dollars an ounce,

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But the GDXJ has has about sixty five percent more

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to gain since it broke down from its from its

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high at one thirty seven back in twenty eleven. It's

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still it's still right around fifty four to fifty five

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dollars here, So it's got plenty of catching up to do.

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And then if you take a look at the smaller

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juniors that are that are still that are still well

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below that are still basically training at well below where

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they should considering where the gold price is, that's where

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the real opportunity lies.

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Speaker 4: Remember we talked about Neumont last time and the stellar earnings,

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and you know, like it still took the market like

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two more weeks after we talked about it, even though

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earnings were coming up, and we all knew it to

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break out, and now Neumont. When we talked, I think

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Newmont was forty one or forty two. It's now fifty

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eight and it went even higher than that.

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Speaker 1: Yes, And speaking of Newmont later today after the close

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today here on October twenty third, Newmont's going to kick

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off Q three earning seasons with their financial results, and

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they're expected to really blow it out of the park

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because basically the gold price, the gold price in Q

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three average twenty four to seventy seven an ounce, which

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is one hundred and forty dollars dollars higher than where

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it and then it averaged in Q two and we

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had blowout quarters in Q one and Q two in

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Newmont and several and most other major mining companies.

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Speaker 2: So I expect that.

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Speaker 1: Once Newmont comes out with their results today, that'll set

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the tone for the rest for the rest of the

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sector going into the end of the year. And I

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wouldn't be surprised to see Newmont beat expectations and this so,

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like I said, this will be the third quarter of

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minors eating expectations. So I don't see general as fund

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managers being able to ignore this sector too much longer.

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And like I said, we're starting to see mainstream interests

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come into the sector, and a third consecutive blowout quarter

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is going to get these fund managers really interested in

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this sector, especially if the if the stock market starts

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to roll over in earnest, it's starting to roll over

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here today, and you know, investors are going to look

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for something to rotate their incredibly huge AI gains into

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something that is undervalued. And there's I don't think there's

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there's very many sectors out there more undervalued than gold stocks.

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Despike the gold price being up thirty four percent this

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year and trading at all time highs over twenty seven

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hundred dollars an hours.

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Speaker 4: And you know Newmont broke the cup with a handle

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pattern back back earlier a few months earlier, right, we

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were watching.

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Speaker 2: That cup with the handle.

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Speaker 1: Well, well yeah, I mean, but if you take a

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look at the silver price now, that's got an even

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more attractive cup and handle patterns. Matter of fact, the

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handle has got its own cup and handle pattern from

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a from a multi year, a multi decade cup in silver.

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I mean, I don't even know if you could consider

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it a cup and handle sets it's since it's been

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that long. But the silver price is incredibly bullish, especially

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when you consider the fact that the gold price is

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now finally reached it's it's it's inflation adjusted high set

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back in nineteen in January of nineteen eighty, when we

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had in gold price have that huge spike ending to

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the bull market in January nineteen eighty when it got

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to eight hundred and fifty dollars an ounce. Well, the

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gold price had yet to reach that level in inflation

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in government inflation adjusted terms until just recently. But if

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you take a look at silver, the silver price needs

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to get to one hundred and fifty dollars to reach

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its inflation adjusted price that the hut Brothers took it

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to back in nineteen eight.

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Speaker 2: Yeah.

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Speaker 4: Well, Eric Sprot's saying three hundred dollars silver, right.

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Speaker 1: Yeah. Well, you know, I don't know about these grandiose

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calls about goal. I saw a number today and goal

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of one hundred and fifty thousand dollars. Now you always

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see these crazy calls when you see the gold market

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really start to take off. I like to be more pragmatic,

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and I'll be very happy if the gold price hits

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my target of three thousand dollars by Q one of

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next year.

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Speaker 2: Very likely, very likely.

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Speaker 4: So what effect of any do you think the electionists having.

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You know, everybody talks about the election, not from a

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political standpoint of course, but just just in terms of

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markets and is Trump good for inflation?

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Speaker 1: Well, it's Gold's got so many tailwinds. You know, you've

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got the debt situation, You've got the geopolitical situation. You've

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got this contentious US election that's drawing even closer where

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you know, it's shaping up to where neither side is

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going to accept the result, and that would would create

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even more chaos in the marketplace. You know, you've got

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on the Democrat side, they're saying that Trump is basically

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a felon and if he wins, he shouldn't be president president.

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And then on the Republican side, you've you've got the

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publicans saying that Kamala is not even a legitimate candidate

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because she didn't go through the process. So I wouldn't

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be surprised if the result when we do get one

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on November sixth or seventh or whatever, it's going to

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be that will probably be that will probably that will

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probably go and have to be decided in the Supreme Court.

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So there's no doubt that the gold price is sensing

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all this chaos going on, and it just continues to rise,

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and each each time we have dips, their body even quicker.

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I mean, we had that that eighty dollars correction lasted

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within a week and it was bought right away and

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then went right back up over twenty seven hundred and

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created I think it's thirty ninth or fortieth daily all

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time high since March. So yeah, it's it's really interesting

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the way it's unfolding here, and it's kind of scary

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at the same time.

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Speaker 4: Yeah, a little bit. It'll be interesting to see how

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they get out of this mess if they want to. Yeah,

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it's a mess.

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Speaker 1: It's a very it's a very dangerous situation. I mean, sure,

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as gold investors, you like to see the gold price rising,

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but for the reasons why it's right, you're not really

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happy about.

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Speaker 4: Well, then you've got the collapse of China taking place

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as well, which you know.

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Speaker 1: Right, the stimulus there that they that they tried to

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save their market. Yeah, I mean that's that's also keeping

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the gold price higher. And then we had Canada come

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out today and lower another fifty basis points, so you know,

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lower real interest rates. Uh, these geopolitical chaos, you know,

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the debt situation which is untenable. I mean, neither of

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these presidential candidates even brings it up because there's no

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answer for it.

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Speaker 2: Yeah, ain't that the truth? Uh?

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Speaker 4: Yeah, so to be avoided at all possible costs.

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Speaker 1: Right, gold looks just that, the gold chart looks just

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looks just like a giant middle finger everything that's going

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on right now.

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Speaker 4: Yes, it does, Yes, it does. All right, So what

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do you think we can look forward to? You said

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three thousand dollars gold by Q one of the twenty five.

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Speaker 1: Yeah, and you could see silver hit forty dollars. I mean,

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it's already hit thirty five. And we're seeing a nice,

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little healthy correction today because it went from thirty two

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fifty to thirty five dollars in just a few sessions.

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But yeah, I mean, and at the same time you're

258
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seeing silver come down and probably test the breakout at

259
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thirty two fifty thirty three. You're also seeing a lot

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of these gold stocks and silver stocks that are breaking

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out of their huge consolidation patterns from a multi year resistance.

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They're coming back to test their resistance. So that's giving

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you know, speculators an opportunity to get into these stocks

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that have already broken out.

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Speaker 4: All right, So the stocks are gonna be active, and

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the M and A is also picking up. We've seen

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a few major acquisitions take place since we last spoke.

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Speaker 1: Yes, I mean, you know, these mining assets controlled by

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juniors that provide new gold sources and let and and

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leverage to to these company portfolios that need need growth

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that they're they're becoming increasing increasingly attractive to the to

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these to these majors and mid tiers because you know,

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with with all with with with the with the rising

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cash flow that they're creating now with you know, with

275
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margins now, I mean, these margins are going to in

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Q three are going to be upwards of one thousand

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dollars an ounce. So they've already they've already concentrated on

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the health of their ballot sheets. They've got healthy ballot sheets.

279
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They've got a lot of cash, they're paying dividends, they're

280
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doing share buybacks. The next thing they got to do

281
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is replace those ounces and there, and they've started to

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do that now and m and as really started to

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pick up.

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Speaker 4: Yeah, and we saw with Newmont in particular, took like

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a lot of write offs. They knew this was going

286
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to happen, so they clean they cleared the decks, they

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wrote off everything. They're selling all sorts of what what

288
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what they call.

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Speaker 1: A lower tier ass tier two assets.

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Speaker 4: Yeah, which any mining company out there would give their

291
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I exactly what are what are they thinking here?

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Speaker 1: Because well, they're concentrating on higher margin ounces and bigger

293
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deposits with blue sky potential. They're that they want the

294
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best of the best, and but where is it doesn't exist?

295
00:17:23,920 --> 00:17:27,640
The best of the best. It does, and they've got

296
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and they're holding onto the to the to the minds

297
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that that that they feel meet their tier one criteria

298
00:17:33,400 --> 00:17:36,799
that that produce upwards of you know, three hundred over

299
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three hundred thousand ounces a year. They have ten fifteen

300
00:17:41,640 --> 00:17:45,039
to twenty year reserves. So this is this is the

301
00:17:45,039 --> 00:17:48,519
sweet spot. And you know, there's there's not a lot

302
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of those assets around and now that now that the

303
00:17:52,400 --> 00:17:56,000
gold price has really taken off a lot of these

304
00:17:56,119 --> 00:18:00,599
numbers that that that these analysts are are are basing

305
00:18:00,839 --> 00:18:04,960
these numbers on, you know, their fantasy. I mean, there's

306
00:18:05,000 --> 00:18:07,160
no way that I really don't see the gold price

307
00:18:07,200 --> 00:18:09,880
going back below two thousand dollars an ounce. Yet a

308
00:18:09,920 --> 00:18:12,759
lot of these economic studies are still done two at

309
00:18:12,799 --> 00:18:16,519
sub two thousand dollars an ounce. So the market is

310
00:18:16,559 --> 00:18:19,960
starting to price in the fact that, hey, the floor

311
00:18:20,160 --> 00:18:23,359
should probably be twenty five hundred dollars an ounce. So

312
00:18:23,799 --> 00:18:25,920
if you use twenty five hundred dollars an ounce as

313
00:18:25,920 --> 00:18:29,759
a floor, just about every major deposit out there that

314
00:18:29,799 --> 00:18:32,200
has that hasn't that has a late that has a

315
00:18:32,240 --> 00:18:36,359
late stage economic study, makes good money at twenty five

316
00:18:36,440 --> 00:18:40,440
hundred dollars an ounce for you. Yeah, the market hasn't

317
00:18:40,480 --> 00:18:43,960
really caught onto the the you know, the smart money's

318
00:18:43,960 --> 00:18:46,480
caught onto this because we've seen a lot of these

319
00:18:46,599 --> 00:18:49,640
juniors really take off with the GDX and gend XJ,

320
00:18:50,119 --> 00:18:53,079
the late stage juniors with these high margins that are

321
00:18:53,160 --> 00:18:56,920
high margin, especially if they're if they're at the finance stage,

322
00:18:56,960 --> 00:18:59,480
close to the finance stage, they're shovel ready or close

323
00:18:59,519 --> 00:19:03,680
to being shell already out there, they've really taken off.

324
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Speaker 2: But there's a few of them right there.

325
00:19:06,400 --> 00:19:10,799
Speaker 1: Right, there's there's very there's very few of those projects

326
00:19:10,799 --> 00:19:15,480
out there. So so what's going to happen is after

327
00:19:15,559 --> 00:19:18,440
these these these juniors have already brought up so much,

328
00:19:18,680 --> 00:19:21,720
they're going to start, you know, rotating those profits into

329
00:19:21,720 --> 00:19:25,640
the lower tier juniors that that that's still you know

330
00:19:25,720 --> 00:19:28,880
that they still reach that criteria, but maybe they're not

331
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at the finance stage or and they still need some

332
00:19:33,400 --> 00:19:37,680
more de risking, or also they also need more permit

333
00:19:37,759 --> 00:19:40,200
de risking. That's the thing, because some of these projects

334
00:19:40,200 --> 00:19:44,039
are still two, three, four years away from being shovel ready.

335
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Speaker 4: And then the lesser jurisdictions right less secure exactly exactly.

336
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Speaker 1: No jurisdiction is completely one hundred percent safe, but there

337
00:19:55,119 --> 00:19:58,160
are top tier jurisdictions and lower tier jurisdictions, and the

338
00:19:58,160 --> 00:20:01,400
ones in top tier jurisdictions, you know, you say you've

339
00:20:01,400 --> 00:20:04,839
got you know you you've got this multi million ounced

340
00:20:05,359 --> 00:20:09,880
deposit that you're de risking in Canada just a top

341
00:20:09,880 --> 00:20:14,279
to your jurisdiction. And you've got the access to capital

342
00:20:14,480 --> 00:20:16,160
you know you've got, you've got the you've got the

343
00:20:16,200 --> 00:20:18,400
really tight share structure. You've done a great job raising

344
00:20:18,400 --> 00:20:20,759
money at the right times. But you look at the

345
00:20:20,759 --> 00:20:23,680
permitting and it's going to be another two three years

346
00:20:23,720 --> 00:20:25,759
before it gets permitted, because it takes a long time

347
00:20:25,799 --> 00:20:28,759
to get a mine permitted in Canada. Yes, and then

348
00:20:28,799 --> 00:20:31,559
maybe you go over to West Africa to a company

349
00:20:31,640 --> 00:20:37,599
like Cote de Wis, which is a lower risk jurisdiction

350
00:20:37,720 --> 00:20:40,480
and a higher risk area of the world. If you

351
00:20:40,519 --> 00:20:42,400
need to permit over there, you just ask for one

352
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and they give it to you.

353
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Speaker 2: Yeah. Yeah, so exactly.

354
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Speaker 1: And THEA and and Kote de Wa Absolutely they're you know,

355
00:20:51,079 --> 00:20:54,240
and because basically they they take a chunk of them,

356
00:20:54,440 --> 00:20:56,759
they take a chunk of the asset, they take ten,

357
00:20:57,000 --> 00:21:01,039
you know, fifty ten percent of the asset, and they

358
00:21:01,079 --> 00:21:03,079
give you the permit as soon as you need it.

359
00:21:03,559 --> 00:21:05,119
Speaker 2: Okay, got a question for you.

360
00:21:05,160 --> 00:21:09,240
Speaker 4: They were a sponsor of my show years back, and

361
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they were direct they were directly impacted by the last election.

362
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Assume that the former president forty five gets elected. I'm

363
00:21:19,240 --> 00:21:23,480
talking about Trilogy, because they had the permit to build

364
00:21:23,519 --> 00:21:27,279
the road and the moment Your Way Ambler hambled the

365
00:21:28,319 --> 00:21:31,720
big huge contention bane of contention over there, and it's

366
00:21:31,759 --> 00:21:35,839
hit a lot of Alaskan companies. Yeah, I mean because

367
00:21:35,880 --> 00:21:38,680
You're already starting to see these stocks move because it

368
00:21:38,920 --> 00:21:42,079
because it looks increasingly likely that Trump's going to win

369
00:21:42,119 --> 00:21:45,480
the election. So anything that's going to benefit from Trump

370
00:21:45,559 --> 00:21:48,960
winning the election, as far as permitting is concerned, these

371
00:21:48,960 --> 00:21:52,119
companies stocks are already getting a bit higher. And you

372
00:21:52,200 --> 00:21:55,920
know that this time, because he knows how the system works,

373
00:21:56,519 --> 00:22:00,200
he's going to be vicious in getting rid of all obstacles,

374
00:22:00,440 --> 00:22:03,279
like for instance, I mean, this is totally off topic,

375
00:22:03,400 --> 00:22:06,799
and I'm not This isn't my vote of support for him.

376
00:22:06,839 --> 00:22:10,440
This is just a fact of his last administration. It

377
00:22:10,559 --> 00:22:13,960
was taking ten years to get a highway project cleared

378
00:22:14,359 --> 00:22:17,480
through the Department of Transportation in Washington.

379
00:22:18,200 --> 00:22:19,119
Speaker 2: And what did he do.

380
00:22:19,200 --> 00:22:25,759
Speaker 4: He said, if there's no significant federal environmental action, something

381
00:22:25,839 --> 00:22:29,720
like fifty page or one hundred pages will do. But

382
00:22:29,839 --> 00:22:33,400
if there's federal action, one hundred and fifty and you're

383
00:22:33,440 --> 00:22:36,880
getting one person who is in charge of your application

384
00:22:37,599 --> 00:22:41,839
throughout the lifespan of it, at this speeded things up dramatically.

385
00:22:41,920 --> 00:22:45,799
Not to mention the policy of before you can pass

386
00:22:45,839 --> 00:22:48,039
one new regulation, you got to get rid of two,

387
00:22:48,519 --> 00:22:52,599
and that actually turned into twenty. So assume that he

388
00:22:52,680 --> 00:22:56,759
hits the ground running. This could be a golden period

389
00:22:56,920 --> 00:22:58,359
for mining here.

390
00:22:59,200 --> 00:23:04,400
Speaker 1: Yes, I mean it's you know, it's it's no secret

391
00:23:04,559 --> 00:23:06,440
that we need more.

392
00:23:06,359 --> 00:23:08,519
Speaker 2: Metals for this, you know, for this, for this.

393
00:23:08,480 --> 00:23:15,839
Speaker 1: Green movement and this pipe, mean pipe exactly. So you know,

394
00:23:16,000 --> 00:23:20,359
they've got to fast track these permitting timelines. And in

395
00:23:20,400 --> 00:23:23,640
Canada and the US they call them top tier jurisdictions,

396
00:23:23,640 --> 00:23:26,440
but then you know which, which I agree they are

397
00:23:26,640 --> 00:23:31,160
because because of the governments and less confiscation on the

398
00:23:31,200 --> 00:23:34,799
back end. But that frunt end exactly. But the red

399
00:23:34,799 --> 00:23:37,000
tape you have to go through and the timelines you

400
00:23:37,039 --> 00:23:40,559
have to deal with to get these permits is too long,

401
00:23:40,599 --> 00:23:42,680
and they're already starting to address.

402
00:23:42,319 --> 00:23:46,960
Speaker 2: It in BC. Imagine, yeah, exactly.

403
00:23:47,279 --> 00:23:52,119
Speaker 4: Imagine if copper projects get green lighted like Trilogies, which

404
00:23:52,200 --> 00:23:56,680
is one of the best on tape waiting permit.

405
00:23:56,759 --> 00:23:59,359
Speaker 1: They've got everything stet up and is waiting for that permit,

406
00:23:59,720 --> 00:24:00,160
and we.

407
00:24:00,119 --> 00:24:02,400
Speaker 4: Don't even know how much they really have there because

408
00:24:02,440 --> 00:24:05,880
there's multiple deposits that they haven't even gone into because

409
00:24:05,920 --> 00:24:08,759
the market won't price it, so why bother with it?

410
00:24:08,799 --> 00:24:13,599
But there's multiple projects, potential projects a district district right

411
00:24:13,839 --> 00:24:18,200
there that's probably the richest copper untapped copper deposit in

412
00:24:18,240 --> 00:24:22,240
the world or one of the top three. So and

413
00:24:22,279 --> 00:24:27,759
then just imagine that they unleash lithium production, which there's

414
00:24:27,759 --> 00:24:30,240
no real reason to do it, but there's no reason

415
00:24:30,319 --> 00:24:33,680
not to not there's no reason to inhibit any of

416
00:24:33,720 --> 00:24:38,640
these productions, any of these minerals so called crucial ones,

417
00:24:38,960 --> 00:24:43,559
because the state of the art of mining is not

418
00:24:43,680 --> 00:24:47,160
like it was one hundred years ago or even thirty

419
00:24:47,240 --> 00:24:51,039
years ago. You know, we're in a different realm, so environmentally,

420
00:24:51,359 --> 00:24:57,000
it's just the objections aren't real. And imagine they unleash

421
00:24:57,079 --> 00:25:00,960
it and lithium goes down to a fraction and what

422
00:25:01,039 --> 00:25:03,039
it is now, which is a fraction of what it

423
00:25:03,200 --> 00:25:06,359
was a couple of years ago, and all these other

424
00:25:06,920 --> 00:25:09,880
metals that we need, you know, we could see we

425
00:25:09,920 --> 00:25:11,400
could see a major impact here.

426
00:25:12,119 --> 00:25:12,960
Speaker 2: Absolutely. Yeah.

427
00:25:13,039 --> 00:25:17,319
Speaker 1: I mean especially in silver, because silver has been at

428
00:25:17,319 --> 00:25:21,880
a deficit now for four years and you know, it's

429
00:25:22,000 --> 00:25:24,960
just neat, it's it's it's it's required in so many things.

430
00:25:25,000 --> 00:25:27,359
It's it's so it's required in so many more things

431
00:25:27,400 --> 00:25:29,559
now than it was twenty years ago. But it's now

432
00:25:29,599 --> 00:25:31,880
more of an industrial metal that it is a precious metal.

433
00:25:32,480 --> 00:25:36,440
It's required in my safe, in my and might as well.

434
00:25:38,680 --> 00:25:41,400
Speaker 2: I've always held on, you know, I had to. I

435
00:25:41,480 --> 00:25:42,160
had to sell.

436
00:25:42,039 --> 00:25:48,119
Speaker 4: Little gold over the years, divorces, taxes, weddings and all

437
00:25:48,160 --> 00:25:51,000
that good shift. And you know, if that's the first

438
00:25:51,039 --> 00:25:54,039
time I ever cursed in the show in fourteen years,

439
00:25:54,640 --> 00:25:59,000
and it's just the devoce here divorce is so. But

440
00:25:59,079 --> 00:26:01,799
I never sold an ounce of silver and even added

441
00:26:01,839 --> 00:26:04,599
to it in all tame here. Yet the junk silver

442
00:26:04,680 --> 00:26:06,519
that I bought it less than five bucks an ounce

443
00:26:06,640 --> 00:26:08,960
back in two thousand and three, two thousand and four,

444
00:26:09,039 --> 00:26:10,839
whatever it was, I still got it all.

445
00:26:10,920 --> 00:26:11,720
Speaker 2: I'm not touching it.

446
00:26:12,160 --> 00:26:16,359
Speaker 4: And I was a big buyer after the financial collapse

447
00:26:17,559 --> 00:26:20,920
when it was seven to nine dollars announce and ten

448
00:26:21,599 --> 00:26:24,720
and I bought up until the load twenties, which I

449
00:26:24,759 --> 00:26:28,079
never regretted, but not much. In the load twenties, almost

450
00:26:28,119 --> 00:26:31,039
all of it, and the junk silver, I think I

451
00:26:31,079 --> 00:26:34,319
was paying eight nine thousand dollars a bag. What's what's

452
00:26:34,319 --> 00:26:35,160
a bag of junk?

453
00:26:35,240 --> 00:26:37,119
Speaker 2: Now? Oh? I don't know.

454
00:26:37,160 --> 00:26:39,079
Speaker 1: I don't even follow it anymore, but I know that.

455
00:26:39,200 --> 00:26:42,400
But when I bought it it was twenty was junk

456
00:26:42,519 --> 00:26:46,279
was trading at a discount dicund to the Yeah, same

457
00:26:46,640 --> 00:26:50,799
same here exactly. Nope, can't. You can't get discount to

458
00:26:50,839 --> 00:26:53,319
spot at all anymore. There's the premium to spot on everything.

459
00:26:53,319 --> 00:26:55,240
Speaker 2: Now. You know what I bought, I did.

460
00:26:55,319 --> 00:26:58,839
Speaker 4: It was just an exercise for community members to show

461
00:26:58,880 --> 00:27:02,039
that you could be done. I bought war Nichols, maybe

462
00:27:02,039 --> 00:27:05,400
a couple thousand bucks worth, but they're thirty five percent

463
00:27:05,519 --> 00:27:08,079
silver and they were trading it like a twelve percent

464
00:27:08,160 --> 00:27:10,519
discount to melt.

465
00:27:10,319 --> 00:27:13,960
Speaker 2: Value when I bought them. David Hi, Right, it's right.

466
00:27:14,039 --> 00:27:16,039
Speaker 1: Yeah, it's say collecting juniors that are trading it less

467
00:27:16,039 --> 00:27:16,880
than catching the bank.

468
00:27:17,240 --> 00:27:20,359
Speaker 4: Yeah, I mean, like, what are they thinking here is

469
00:27:20,519 --> 00:27:23,960
this isn't rational here? These are these markets are not

470
00:27:24,039 --> 00:27:28,240
behaving rational. And hopefully I'll be alive when they start

471
00:27:28,799 --> 00:27:31,559
trading rationally. And I think we're getting to that point.

472
00:27:31,880 --> 00:27:35,759
And I still got a little life left in me. Yeah, absolutely, yes,

473
00:27:35,920 --> 00:27:39,599
little a little bit, a couple more years hopefully, if

474
00:27:39,839 --> 00:27:45,440
God willing. But but you know, we're not stop clocks here, right,

475
00:27:45,680 --> 00:27:49,000
We're not right twice a day, whether we do anything

476
00:27:49,119 --> 00:27:53,160
or not. This is the result of analysis and understanding

477
00:27:53,240 --> 00:27:55,400
markets that we stood our position.

478
00:27:56,079 --> 00:27:57,359
Speaker 2: Oh absolutely. Yeah.

479
00:27:57,400 --> 00:28:00,319
Speaker 1: For over twenty years, I've stood my position on this

480
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and it's been it's been a long, crazy roller coaster ride.

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But I wouldn't do anything different. I love doing it

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and I love it educating people on the not only

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the value of gold and silver, but basically I'm teaching

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them how to manage their risk while trying to make

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money in this very risky and volatile sector.

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Speaker 4: Volatile sector, but when it moves, it moves like like

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no one's business. And just a couple of pointers out

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there for you people. If you're buying stuff from people

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you don't know, you got to the first thing you

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have to do with every coin you.

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Speaker 2: Buy is weigh it all right. If it's off by

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a bit.

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Speaker 4: You know, drop it, do the sound test, and if

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you can find somebody with the X ray gun, x

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ray it, because that is fool proof.

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Speaker 2: You can't.

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Speaker 1: Yeah, tungsten weighs the same amount, right, right, Because I've

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heard of a silver coming out of fakes rounds coming

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out of China, like Northwest Territorial which was the operation,

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but they weighed exactly the same.

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Speaker 2: But the measurements are off. You're not in a position.

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Speaker 4: When you're looking to buy metal that you're going to

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be measure it with a caliper and all that. You

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just not but you certainly can weigh it. Weigh a

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bunch of them at once, drop them and listen to

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the music. The musical sound of silver, it's unmistakable. And

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get a scanner. Other people have scanners. Scanners work almost

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as good as the X rays. But that's just a

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piece of advice because no matter how much you trust

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who you're buying it from, generally they're going to be good,

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but sometimes they get beat.

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Speaker 1: So you have to be vigilant for this. And the

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generalist investor finally starts to come into this sector more

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and more. The scams are going to increase even more

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and more. And the fakes, David, are better than ever.

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I mean, I could be faked. I mean, and you can't.

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If you just go to some guy in the market,

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you can't trust them when they say, oh, this isn't real.

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You have to go to a real person, a real

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coin shop or bullioned dealer, and don't get screwed on

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this because you know, like I know, if I buy

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from Andy Sckman, I never have to worry. But I

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still check and and I weigh it. You know, I

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definitely weigh it. If the weight's off, then you've got

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to go further. If the wait's spot on, generally you're

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going to be good.

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Speaker 4: So that's just a warning to you people out there

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who have woken up to the wisdom of our ways

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and now know that this thing is real and what

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we've been telling you me for fourteen years, you for longer, David,

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is true.

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Speaker 1: Yeah, it's it's it's really starting to happen, and it's

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it's you know, this sector is so freaking tiny. It

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doesn't take a lot of generalist interest to really started

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moving and then buying begets buying, just like selling has

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begotten selling over the past few years.

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Speaker 2: When the gold.

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Speaker 1: Price has risen so much.

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Speaker 4: If Eric Sprought went into the silver market tomorrow and

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bought up two hundred and fifty million dollars of silver

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on the COMEX, that would make a dent, and then

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he could he could do he could pull a Warren

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Buffett move and something like that. But he doesn't need to.

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But you know, I think he's going to be as

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rich as Elon Musk wrote an article about it when

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the market really breaks out I.

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Speaker 1: Wouldn't be surprised. I wouldn't put it past him. Yeah,

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he will be as rich as Elon Musk. But that's

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for another day. David, tell us where do we find you?

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How do we subscribe? How do we connect with you?

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Speaker 2: Yeah?

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Speaker 1: My website is Junior Minor Junkie with a y dot

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com and you could also find me on kit go.

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Each week, I have a weekly column that's posted every Friday.

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Speaker 4: All right, excellent, and I will read it every Friday.

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You can subscribe it. It'll come to your mailbox. Just

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00:32:07,720 --> 00:32:10,960
go over to David's site and the link is in

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the show notes to this interview. Questions for David and

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00:32:13,839 --> 00:32:17,519
myself shoot an email to me kl at Carrie Lutz

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dot com. David, we'll talk to you in six weeks

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or so. Let's see what's happening. Okay, buddy, looking forward

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to it. Always great to see you.

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Speaker 3: Thanks for listening to Carrie Letz's Financial Survival Network, your

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00:32:28,319 --> 00:32:32,160
solution to today's trying times. For the latest, go to

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00:32:32,319 --> 00:32:36,759
Financial Survivalnetwork dot com. Financial Survival Network

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Speaker 1: Now more than ever