1 00:00:00,320 --> 00:00:04,240 Speaker 1: You're listening to Carrie Lutz's Financial Survival Network, where you 2 00:00:04,240 --> 00:00:08,199 get valuable information you just can't find anywhere else to 3 00:00:08,359 --> 00:00:12,400 thrive in today's trying times. You need the Financial Survival 4 00:00:12,439 --> 00:00:17,160 Network now more than ever. Go to Financial Survivalnetwork dot 5 00:00:17,160 --> 00:00:21,519 com and get your free newsletter and gift. Financial Survival 6 00:00:21,559 --> 00:00:24,480 Network now more than ever. 7 00:00:27,719 --> 00:00:28,440 Speaker 2: And welcome. 8 00:00:28,760 --> 00:00:32,439 Speaker 3: You are listening to the Financial Survival Network. I'm your host, 9 00:00:32,520 --> 00:00:37,079 Carrie Lutz. Well, silver prices trading at thirteen maybe fourteen 10 00:00:37,119 --> 00:00:39,640 year high is at this point I just looked at 11 00:00:39,719 --> 00:00:43,119 my screen thirty six and a half bucks. I mean, 12 00:00:43,759 --> 00:00:47,079 finally the world's catching on. But someone who's caught on 13 00:00:47,159 --> 00:00:50,920 a long time ago, who's actually predicting history before it 14 00:00:50,920 --> 00:00:51,600 gets written. 15 00:00:52,000 --> 00:00:55,479 Speaker 2: Bob hoy, Bob. Great to have you back on the show. 16 00:00:55,600 --> 00:00:56,240 Speaker 4: Hi, Carrie. 17 00:00:56,320 --> 00:01:00,399 Speaker 5: Good to be with you and our listeners out there. 18 00:01:00,640 --> 00:01:03,600 Speaker 3: Absolutely and it's always great to connect with you. So 19 00:01:04,519 --> 00:01:07,159 let's not talk about politics or the politics in the 20 00:01:07,280 --> 00:01:11,560 direct outcropping or outgrowth of economics. 21 00:01:11,560 --> 00:01:14,280 Speaker 2: What's happening now? Where are we now? 22 00:01:14,400 --> 00:01:17,400 Speaker 3: I mean we got thirty three hundred dollars gold that 23 00:01:17,480 --> 00:01:20,959 seems to be resistance at this point, thirty six and 24 00:01:21,000 --> 00:01:24,879 a half bucks silver. We're talking us, of course, where 25 00:01:24,879 --> 00:01:27,879 does that leave us? 26 00:01:27,959 --> 00:01:34,000 Speaker 5: Well, we'll just this has been a great financial bubble. 27 00:01:34,840 --> 00:01:38,159 Speaker 6: And the first one was the South Seat bubble in 28 00:01:38,200 --> 00:01:41,599 seventeen twenty and then the ones that followed, like. 29 00:01:44,000 --> 00:01:47,359 Speaker 5: Twenty nine was number five, were number six, and each 30 00:01:47,439 --> 00:01:51,959 of them carried It is remarkably similar patterns as you 31 00:01:52,079 --> 00:01:57,439 went through it, although although the speculating public doesn't have 32 00:01:57,519 --> 00:02:01,799 a roadmap, it is able of doing it. Within this, 33 00:02:02,280 --> 00:02:02,799 you have. 34 00:02:04,560 --> 00:02:06,359 Speaker 4: Real gold price. 35 00:02:06,719 --> 00:02:12,120 Speaker 5: Deflated by the CPI rather into inflation, and. 36 00:02:12,039 --> 00:02:16,560 Speaker 6: In a great bubble, in the final stage of it, 37 00:02:16,680 --> 00:02:20,879 the final year, the deflated pricycled from. 38 00:02:22,199 --> 00:02:26,680 Speaker 5: And then it goes up, and the go. 39 00:02:27,120 --> 00:02:31,879 Speaker 6: Goes real price has been going up. And then also 40 00:02:32,000 --> 00:02:37,599 I like to use gold divided by this TRB commodity 41 00:02:37,680 --> 00:02:43,159 in this and I assume that the CRB is. 42 00:02:43,159 --> 00:02:49,000 Speaker 4: A proxy for mining costs. And in this case, you. 43 00:02:49,000 --> 00:02:55,199 Speaker 5: Don't have to focus focus on the dollar price of gold. 44 00:02:56,080 --> 00:02:59,240 Speaker 4: You look at the deflated price of gold. 45 00:02:59,360 --> 00:03:07,080 Speaker 6: And if gold bullion is outperforming the mining costs in 46 00:03:07,560 --> 00:03:10,319 the gold mining business is making money, isn't it so? 47 00:03:10,719 --> 00:03:14,400 And that has been the case in all of the 48 00:03:14,439 --> 00:03:23,599 post bubble depressions. Everything else is under pressure base metals, industry, commerce, agriculture, 49 00:03:24,560 --> 00:03:29,120 but goals real price going up makes the gold mining 50 00:03:29,199 --> 00:03:33,400 sector very viable, and so it is. 51 00:03:34,319 --> 00:03:37,759 Speaker 5: It's important to follow Goes real price. 52 00:03:39,080 --> 00:03:44,400 Speaker 7: And then the next one is the real price of copper, 53 00:03:45,800 --> 00:03:49,159 representing base metals all together. 54 00:03:50,520 --> 00:03:56,000 Speaker 5: And uh, copper real price goes up with the bubble 55 00:03:57,000 --> 00:04:00,479 and down with the bust. And to give you idea 56 00:04:00,479 --> 00:04:02,400 of how copper stocks. 57 00:04:02,080 --> 00:04:07,080 Speaker 6: Can can do, our base metal stocks can do the 58 00:04:07,120 --> 00:04:10,080 eighteen seventy three boom. 59 00:04:10,319 --> 00:04:11,240 Speaker 4: We usually we. 60 00:04:11,159 --> 00:04:17,439 Speaker 6: Stumbled on an index of mining and smelting companies from 61 00:04:17,519 --> 00:04:22,079 that period, and that index had a high of around 62 00:04:22,319 --> 00:04:24,399 four hundred. 63 00:04:24,480 --> 00:04:32,680 Speaker 5: In seventeen eighteen seventy three, and fifteen years later it 64 00:04:32,800 --> 00:04:34,160 was down to about forty. 65 00:04:35,319 --> 00:04:41,720 Speaker 6: The the base metal miners were disaster by that measure. 66 00:04:42,079 --> 00:04:44,759 And then the other one that you get is that 67 00:04:45,040 --> 00:04:52,079 gold the senior currency becomes chronically firm, and of course 68 00:04:52,639 --> 00:04:58,079 US dollar is the senior currency, and countries like Argentina 69 00:04:58,160 --> 00:05:03,360 that oh huge amount to dollars into doing payable in 70 00:05:03,480 --> 00:05:07,800 New York really don't like the firm dollar. And this 71 00:05:08,000 --> 00:05:10,879 is what really firms said that if you've got the 72 00:05:10,920 --> 00:05:16,319 bubble over, and then the world financial. 73 00:05:16,279 --> 00:05:19,279 Speaker 5: System turns to servicing debt. 74 00:05:20,439 --> 00:05:24,040 Speaker 6: And if most of the debt or a majority of 75 00:05:24,040 --> 00:05:28,279 the debt has been written in US dollars doing payable 76 00:05:28,360 --> 00:05:28,879 in New. 77 00:05:28,800 --> 00:05:37,399 Speaker 5: York, that's what makes a chronically firm senior currency. And 78 00:05:38,079 --> 00:05:41,319 it's it's going to be exasperating. 79 00:05:40,519 --> 00:05:44,879 Speaker 6: To the Federal Reserve, who's the only policy they the fence. 80 00:05:44,959 --> 00:05:50,279 There is only no one policy depreciation and whatever is 81 00:05:50,319 --> 00:05:54,800 going on now, the remedy is to depreciate the currency. 82 00:05:54,879 --> 00:05:58,199 So here you have you're going to have the frustration 83 00:05:58,600 --> 00:06:03,040 of the Federal Reserve not being able to depreciate its 84 00:06:03,040 --> 00:06:03,720 own currency. 85 00:06:03,879 --> 00:06:09,040 Speaker 4: I mean policy making will be by the bye. So 86 00:06:09,040 --> 00:06:12,360 so that's that one. And then and so this it 87 00:06:12,399 --> 00:06:20,399 all adds up two and the four key points are. 88 00:06:20,759 --> 00:06:25,480 Speaker 6: I say that in aggregate they are marking the transition 89 00:06:26,600 --> 00:06:31,680 from a great financial bubble to a great depression. 90 00:06:32,759 --> 00:06:37,360 Speaker 5: And I'll use that term meaning that, you know, a 91 00:06:37,399 --> 00:06:43,839 great depression. But and but within this, as I say, 92 00:06:44,000 --> 00:06:44,639 and to. 93 00:06:44,680 --> 00:06:52,519 Speaker 6: Repeat, the gold mining becomes very prosperous and it's wonderful. 94 00:06:52,560 --> 00:06:59,279 Speaker 5: And actually the big gold rushes when there was surface alluvial. 95 00:06:58,800 --> 00:07:04,360 Speaker 6: Gold available to discovered eighteen ninety five or eighty ninety seven, 96 00:07:04,480 --> 00:07:12,439 the Klondike eighteen forty five, the California gold Russias, Well, 97 00:07:13,680 --> 00:07:19,639 they were a natural phenomenon because you had a high real. 98 00:07:20,000 --> 00:07:24,600 Speaker 5: Price for gold and the world knows it. 99 00:07:25,480 --> 00:07:28,199 Speaker 6: And then at the same time, with a great depression, 100 00:07:29,079 --> 00:07:32,120 you had a huge number of men unemployed. 101 00:07:33,480 --> 00:07:38,519 Speaker 5: So then that's where when alumia. 102 00:07:37,560 --> 00:07:44,199 Speaker 6: Gold was discovered at a surface, they prospectors they went 103 00:07:44,240 --> 00:07:46,040 to California. 104 00:07:46,199 --> 00:07:53,279 Speaker 8: In eighteen forties, and then in the Klondike in eighteen 105 00:07:53,480 --> 00:07:56,639 ninety eight or whenever that one was in ninety seven. 106 00:07:56,800 --> 00:08:00,920 Speaker 6: So it's fascinating that the great gold gold rushes in 107 00:08:01,160 --> 00:08:06,240 history have occurred with high unemployment. 108 00:08:06,680 --> 00:08:14,600 Speaker 5: And a high price for gold. So now would once 109 00:08:14,839 --> 00:08:18,720 look for another great gold rush. 110 00:08:21,759 --> 00:08:28,519 Speaker 6: Probably all of the major surface gold alluvial gold deposits 111 00:08:28,600 --> 00:08:31,040 have been found, probably. 112 00:08:31,839 --> 00:08:34,000 Speaker 4: And so there's not going to be that kind of 113 00:08:34,039 --> 00:08:37,200 a rush. So it seems to me that. 114 00:08:37,240 --> 00:08:41,799 Speaker 5: The gold rush could occur in the stock markets. 115 00:08:42,159 --> 00:08:47,799 Speaker 6: For a big gold star gold companies, Middland sized ones, 116 00:08:48,039 --> 00:08:49,679 and even juniors. 117 00:08:50,639 --> 00:08:51,799 Speaker 5: And this is where. 118 00:08:54,120 --> 00:08:57,200 Speaker 4: More than a year ago we put together a. 119 00:08:57,279 --> 00:09:03,600 Speaker 5: List of how they look like promising junior gold stocks. 120 00:09:04,320 --> 00:09:10,120 They were included produced small producers, reproduction. 121 00:09:10,080 --> 00:09:15,759 Speaker 9: And boss them outright edecoration items and some of those 122 00:09:15,799 --> 00:09:17,039 have done rather well. 123 00:09:18,320 --> 00:09:22,320 Speaker 10: And one of our the lists on that it's called 124 00:09:22,399 --> 00:09:28,480 Casego Resources, and I am involved with the company it now. 125 00:09:30,480 --> 00:09:37,600 Speaker 11: It has coming into visibility because it's cut and training. 126 00:09:37,519 --> 00:09:42,759 Speaker 5: Up and out of the h exchange here and onto 127 00:09:42,799 --> 00:09:46,720 the ts X and that then opens the marketability for 128 00:09:46,840 --> 00:09:51,840 the company greatly. At the same time, the company is 129 00:09:52,320 --> 00:09:58,399 preparing for UH drilling down in. The property is in 130 00:09:58,519 --> 00:10:04,080 Colombia and close to the Brazilian border, so it's quite 131 00:10:04,080 --> 00:10:08,559 a bit south there, and the locals like us, and 132 00:10:10,159 --> 00:10:14,080 even there's a little content like it's an amusing. 133 00:10:13,759 --> 00:10:18,080 Speaker 4: A little story care the local contingent of FAARC, the 134 00:10:19,799 --> 00:10:21,480 sort of terrorist. 135 00:10:21,080 --> 00:10:26,240 Speaker 6: Group from Peru or wherever there's a local little contingent 136 00:10:26,320 --> 00:10:30,879 of fa r C there and the local natives in 137 00:10:30,960 --> 00:10:34,679 our camp it's like them because they. 138 00:10:34,600 --> 00:10:39,480 Speaker 5: Keep the environmentalists away. So everything is. 139 00:10:40,840 --> 00:10:44,799 Speaker 12: Fine for that area of Columbia to be working in. 140 00:10:45,720 --> 00:10:50,519 Speaker 6: And the company's stock has just started to increase in volume, 141 00:10:51,080 --> 00:10:53,720 as it said, because it gets it's coming out of 142 00:10:53,759 --> 00:10:58,639 the age and there's work started, so there's actually quite 143 00:10:58,639 --> 00:11:01,120 an increase in volume in the stock here today. 144 00:11:01,279 --> 00:11:06,320 Speaker 5: So that's one of our lists. 145 00:11:06,919 --> 00:11:09,879 Speaker 13: That have moved in this week to the forefront. 146 00:11:10,000 --> 00:11:12,639 Speaker 4: So pass that on to our listeners. 147 00:11:13,279 --> 00:11:14,080 Speaker 2: Very exciting. 148 00:11:14,519 --> 00:11:20,639 Speaker 3: So is there any way for these brilliant bureaucrats to 149 00:11:20,720 --> 00:11:24,759 actually rescue the system or is it too far gone? 150 00:11:25,039 --> 00:11:31,759 Speaker 5: Oh? Overall? No, I think it is what. 151 00:11:31,639 --> 00:11:34,879 Speaker 6: I call, and I haven't published this yet, what I 152 00:11:35,000 --> 00:11:36,960 call it tyrannical century. 153 00:11:38,039 --> 00:11:38,759 Speaker 12: And if we just. 154 00:11:38,679 --> 00:11:43,600 Speaker 6: Take a look of history since the early nineteen hundreds. 155 00:11:44,559 --> 00:11:46,840 Speaker 5: It's been wars. 156 00:11:48,320 --> 00:11:53,759 Speaker 11: Conductive upond countries, and then that's been the bearcrats and 157 00:11:53,840 --> 00:11:58,000 politicians will conduct the war against their own citizens. So 158 00:11:58,080 --> 00:12:05,200 it's been wars and chronic currency depression, inflation and intrusion 159 00:12:05,320 --> 00:12:08,279 in private life and each of these. 160 00:12:08,480 --> 00:12:12,879 Speaker 13: But this is the third one, Terry. The first one 161 00:12:13,200 --> 00:12:19,720 was with Rome in the third century. And you say, okay, 162 00:12:19,759 --> 00:12:22,360 well where's your price index? Well, you don't have a 163 00:12:22,399 --> 00:12:23,240 price index. 164 00:12:23,360 --> 00:12:29,320 Speaker 6: But the Romans were very good at documenting their currency depreciations. 165 00:12:30,679 --> 00:12:36,120 And there was one horrendous depreciation where. 166 00:12:37,080 --> 00:12:40,000 Speaker 5: Our currency was a five. 167 00:12:41,320 --> 00:12:42,039 Speaker 9: And no. 168 00:12:43,519 --> 00:12:46,919 Speaker 5: Denomination with fifty. 169 00:12:47,240 --> 00:12:53,480 Speaker 6: Silver and it ended up with three denomination. 170 00:12:53,519 --> 00:12:55,840 Speaker 4: With just a silver wash. 171 00:12:56,559 --> 00:13:01,440 Speaker 14: And then that court inflation went wild, and Diocletian was 172 00:13:01,480 --> 00:13:04,320 the emperor then, and he was he had an able 173 00:13:04,600 --> 00:13:08,919 administration and wanted to do things, so he put on 174 00:13:09,000 --> 00:13:13,679 price and wage controlled and that turned out to be a. 175 00:13:13,639 --> 00:13:20,320 Speaker 5: Disaster, and then the whole thing collapsed, marking the end. 176 00:13:20,519 --> 00:13:25,840 Speaker 6: Of the first Tyrannical century. Then the next one started 177 00:13:25,879 --> 00:13:30,360 in fifteen hundred when all of the silver and gold 178 00:13:30,399 --> 00:13:34,519 bullions started to come over from the New World and arriving. 179 00:13:34,159 --> 00:13:39,639 Speaker 4: In Seville support of civilia. Spain was the supreme power. 180 00:13:39,440 --> 00:13:44,399 Speaker 5: Then and it was unprecedented wealth. 181 00:13:45,840 --> 00:13:49,799 Speaker 4: But this shows you what governments are like. The greatest 182 00:13:49,879 --> 00:13:56,440 windfall in history was not enough. They had to brawl 183 00:13:56,519 --> 00:14:01,679 like man and depreciate the currency, and that then marked. 184 00:14:01,320 --> 00:14:02,440 Speaker 2: The end of. 185 00:14:04,120 --> 00:14:08,360 Speaker 4: Spain as the supreme power. It just collapsed. 186 00:14:08,679 --> 00:14:13,960 Speaker 6: And the next one started in the early nineteen hundreds. 187 00:14:14,000 --> 00:14:18,440 You had all of the stories about Marxism and Leninism 188 00:14:18,679 --> 00:14:20,879 and theories, and. 189 00:14:20,799 --> 00:14:24,879 Speaker 4: You also had governments in Ain becoming. 190 00:14:24,559 --> 00:14:28,080 Speaker 5: Overactive and resorting. 191 00:14:27,559 --> 00:14:33,279 Speaker 4: To the printing brash shore we say currency evaluation and 192 00:14:33,879 --> 00:14:38,559 it's run its course. But twenty years. 193 00:14:38,559 --> 00:14:44,879 Speaker 5: And we should look for guidance on this one is England. 194 00:14:44,879 --> 00:14:45,440 Speaker 15: And the. 195 00:14:47,000 --> 00:14:53,519 Speaker 5: Into the early thirteen hundreds because it did it. It 196 00:14:53,639 --> 00:14:57,600 was you know, it had it did all of the 197 00:14:57,799 --> 00:15:04,879 inflation things. And then oh sorry, early sixteen others, and 198 00:15:04,960 --> 00:15:11,000 then that's when the reform started. People just said enough 199 00:15:11,159 --> 00:15:14,200 big doll and England. 200 00:15:13,840 --> 00:15:19,000 Speaker 6: Had a very gentle reform and it was wonderful. 201 00:15:19,919 --> 00:15:27,240 Speaker 4: They called it. The following year Rater described it as 202 00:15:27,279 --> 00:15:33,960 a glorious revolution, and they gained The year following. 203 00:15:34,120 --> 00:15:38,559 Speaker 5: They came in with their Bill of Rights. So what 204 00:15:38,759 --> 00:15:45,240 we're looking for now is another glorious revolution. 205 00:15:45,759 --> 00:15:51,240 Speaker 9: And politics in the reading countries really could do with 206 00:15:52,039 --> 00:15:56,120 another glorious revolution and send I think it is underway. 207 00:15:57,320 --> 00:16:01,679 Speaker 6: So this is the big picture stuff on on that. 208 00:16:01,799 --> 00:16:08,159 Speaker 5: And so what this means is that quite likely a 209 00:16:08,200 --> 00:16:11,720 couple of decades of depression. 210 00:16:12,080 --> 00:16:16,080 Speaker 6: The usual three to four year business cycle prevails, but 211 00:16:17,039 --> 00:16:20,879 recovery is are week and the recessions are noticeable. 212 00:16:22,559 --> 00:16:27,480 Speaker 4: But for those in gold business and those who appreciate 213 00:16:28,600 --> 00:16:34,320 societal freedom, it's going to be getting into very very 214 00:16:34,320 --> 00:16:35,320 good times. 215 00:16:35,519 --> 00:16:35,960 Speaker 2: All right. 216 00:16:36,080 --> 00:16:39,360 Speaker 3: Well, there's always winners, there's always losers. I just want 217 00:16:39,399 --> 00:16:42,120 to share with you an experience I had. I actually 218 00:16:42,440 --> 00:16:48,120 was in Spain, visited Madrid and looking at it viewing 219 00:16:48,159 --> 00:16:52,360 it from the historical lens of this was the greatest 220 00:16:52,360 --> 00:16:55,360 empire on earth, the wealthiest, and they managed to blow 221 00:16:55,399 --> 00:17:03,399 it and collapses, economic collapses, wars. Finally the Spanish Revolution, 222 00:17:03,960 --> 00:17:09,680 Franco becomes the dictator, and then he dies in the seventies, 223 00:17:10,119 --> 00:17:12,480 and then it opens up. And I was in Madrid 224 00:17:13,000 --> 00:17:17,039 and looking at it through that lens, it's amazing to me. 225 00:17:17,240 --> 00:17:24,039 The city works, it is clean, it's safe in most places, 226 00:17:24,960 --> 00:17:30,759 and the traffic is not terrible. The infrastructure is really great. 227 00:17:30,839 --> 00:17:36,359 They keep building and extending their subways. So perhaps countries 228 00:17:36,440 --> 00:17:40,200 can come back from the abyss. Although obviously this was. 229 00:17:42,440 --> 00:17:46,720 Speaker 5: Yeah, Spain seemed to miss some of the nastiness of 230 00:17:46,839 --> 00:17:57,720 the eighties. And also it's interesting that Philip. I guess, yeah, 231 00:17:57,880 --> 00:18:05,240 King and Emperor Philip, what's the powerful guy in the 232 00:18:05,279 --> 00:18:10,599 big Spanish boom. That's why the Philippinanes are cast the 233 00:18:10,599 --> 00:18:13,039 Philippines named after it, right. 234 00:18:12,920 --> 00:18:17,319 Speaker 3: It's amazing, like so obviously I wouldn't call them exactly 235 00:18:17,319 --> 00:18:18,079 a world power. 236 00:18:18,160 --> 00:18:19,839 Speaker 2: They're one of the pigs. After all. 237 00:18:20,200 --> 00:18:23,000 Speaker 3: The debts out of control there, just like everywhere else 238 00:18:23,039 --> 00:18:26,319 in the world. I think what many people don't get 239 00:18:26,599 --> 00:18:30,440 is that every country of the world is drowning in 240 00:18:30,480 --> 00:18:33,000 the up to their eyeballs and debt, with the exception 241 00:18:33,119 --> 00:18:38,759 of Russia. So whatever happens the global reset, it's got 242 00:18:38,799 --> 00:18:42,079 to happen for everyone. It can't just happen for one. 243 00:18:42,680 --> 00:18:46,440 I was just at the Bitcoin conference in Las Vegas, 244 00:18:47,279 --> 00:18:51,200 and let me tell you, Bob, there was more money there, 245 00:18:51,440 --> 00:18:56,599 you know, sponsored by Blackstone, and it's just rolling in 246 00:18:56,720 --> 00:19:01,480 cash like you cannot believe, you know, these booths it 247 00:19:01,559 --> 00:19:02,799 was wasn't in the convention. 248 00:19:04,839 --> 00:19:08,920 Speaker 5: Yeah, in a winning game. It's the amount of whilst 249 00:19:08,960 --> 00:19:11,480 generated is stangering it is. 250 00:19:11,759 --> 00:19:15,000 Speaker 3: I have a what was a relatively small position, but 251 00:19:15,079 --> 00:19:18,039 it keeps getting bigger and bigger. I have a theory 252 00:19:18,079 --> 00:19:20,359 about this, and I'm going to run it by you. 253 00:19:21,680 --> 00:19:24,359 They can't reset the system to gold and silver if 254 00:19:24,400 --> 00:19:29,079 they just They're never going to do that because it 255 00:19:29,200 --> 00:19:31,680 means kind of giving up control. You know, there's a 256 00:19:31,680 --> 00:19:34,279 lot of reasons not to do it. But if you 257 00:19:34,279 --> 00:19:38,680 look at the greatest performing asset in the history of 258 00:19:38,960 --> 00:19:45,319 the man, perhaps it's bitcoin ten cents ten cents fourteen 259 00:19:45,400 --> 00:19:47,799 years ago would now be worth about one hundred and 260 00:19:47,960 --> 00:19:51,960 seven or eight thousand dollars. Who's to say it can't 261 00:19:52,039 --> 00:19:55,319 go a hundred or a thousand times more. And what 262 00:19:55,400 --> 00:19:59,400 if the United States was sitting on the largest pile 263 00:19:59,480 --> 00:20:03,680 of bitcoin of anybody in the world. We knew they've 264 00:20:03,720 --> 00:20:07,559 seized it from numerous drug dealers, money lunderers, you name it, 265 00:20:07,759 --> 00:20:09,839 everybody they are. 266 00:20:11,119 --> 00:20:13,839 Speaker 2: Yeah, they're just sitting on them. 267 00:20:13,960 --> 00:20:16,839 Speaker 5: I got to point out therey that with the Great 268 00:20:16,920 --> 00:20:24,119 Reformation have I been calling it, they the public will 269 00:20:24,200 --> 00:20:28,880 force the Federal Reserve to go to a gold standard 270 00:20:29,920 --> 00:20:38,559 gold convertibility. Yeah, and they And of course in England 271 00:20:39,079 --> 00:20:41,839 they went off of seventeen. 272 00:20:41,440 --> 00:20:47,480 Speaker 6: Ninety seven Napoleonic crazy period, they stop payments, went off 273 00:20:47,519 --> 00:20:52,799 gold or with a financial crisis, and then oh yeah, 274 00:20:53,519 --> 00:20:59,839 eighteen nineteen or so they pledged to get back on gold, and. 275 00:20:59,599 --> 00:21:04,839 Speaker 4: I think by eighteen twenty five they were fully. 276 00:21:03,720 --> 00:21:07,799 Speaker 5: Fully on gold convertibility for there or pound. 277 00:21:08,400 --> 00:21:10,559 Speaker 2: And that might well be the case. 278 00:21:10,880 --> 00:21:13,319 Speaker 3: But what I really believe is going to happen here 279 00:21:14,200 --> 00:21:18,880 is that bitcoin will go to somewhere between ten and 280 00:21:18,960 --> 00:21:23,759 fifty million per coin. The US will then turn around 281 00:21:23,960 --> 00:21:29,799 and seek to pay off their debt using a bitcoin 282 00:21:30,039 --> 00:21:35,160 based coin, And that I believe is how this thing ends, 283 00:21:35,480 --> 00:21:39,039 rather than a collapse, which which in modern world we 284 00:21:39,119 --> 00:21:43,359 can't have it. We can't have a currency, a global 285 00:21:43,400 --> 00:21:47,680 currency collapse, because how do you get back from it? 286 00:21:47,920 --> 00:21:50,240 Speaker 2: You know, there's no way to ever. 287 00:21:50,279 --> 00:21:55,440 Speaker 5: He's someone that I entertained myself with carriers, as they say, 288 00:21:55,599 --> 00:22:01,119 a chain as the example, they oh dollars due on 289 00:22:01,319 --> 00:22:06,640 debt due and payable into New York. So the the 290 00:22:06,680 --> 00:22:12,279 amount of money the debt bubble is effectively a short 291 00:22:12,319 --> 00:22:18,440 position of US dollars because if you have brought money 292 00:22:18,480 --> 00:22:23,960 in New York, that loan is due and payable in 293 00:22:24,599 --> 00:22:29,440 US dollars in New York, in London area in New York. 294 00:22:30,279 --> 00:22:31,359 Speaker 4: And this has been. 295 00:22:31,200 --> 00:22:36,480 Speaker 5: The case in the past where the you know, earlier 296 00:22:36,599 --> 00:22:43,640 it was sterling pound sterling and and. 297 00:22:43,839 --> 00:22:47,880 Speaker 4: London was the financial center. And this is the way 298 00:22:47,920 --> 00:22:48,440 it works. 299 00:22:48,519 --> 00:22:49,400 Speaker 2: And all in the. 300 00:22:49,359 --> 00:22:54,799 Speaker 5: Bubble is over. The world changes to paying down debt 301 00:22:57,240 --> 00:23:01,000 and you got to pay it down into the world 302 00:23:01,160 --> 00:23:08,759 financial center in senior currency units. And you know, going 303 00:23:08,880 --> 00:23:16,640 from here's one that Gresham, the great creator from fifteen hundreds, 304 00:23:17,240 --> 00:23:18,240 after which. 305 00:23:20,039 --> 00:23:25,160 Speaker 15: Five days some writer guys called it Gresham's law, but 306 00:23:26,440 --> 00:23:30,400 he pointed out in letters he was the financial agent 307 00:23:30,559 --> 00:23:34,319 for the British Crown in the money market in Antwerp, 308 00:23:35,079 --> 00:23:37,559 and he wrote letters to the. 309 00:23:37,480 --> 00:23:42,039 Speaker 6: Crown advising and this is where he pointed out that 310 00:23:42,440 --> 00:23:45,559 the worst thing in the world is to be servicing 311 00:23:46,519 --> 00:23:52,799 debt from a weak currency to a firm senior currency. 312 00:23:53,279 --> 00:23:54,440 Speaker 4: And at that time it. 313 00:23:54,599 --> 00:23:59,200 Speaker 5: Was Antwerp and the Guilder and he actually got through 314 00:23:59,240 --> 00:24:04,319 to the count Elizabeth and they did firm up Stirling 315 00:24:04,720 --> 00:24:05,400 and that. 316 00:24:05,480 --> 00:24:07,920 Speaker 4: Made debt service a whole lot better. So this is 317 00:24:08,480 --> 00:24:11,279 this is pretty old stuff, but it's it's it's the 318 00:24:11,319 --> 00:24:12,759 way financial markets work. 319 00:24:13,359 --> 00:24:15,880 Speaker 3: Well, everything old is new again. But the dollar has 320 00:24:15,920 --> 00:24:18,400 been weak, you know, it broke a hundred? Is it 321 00:24:18,440 --> 00:24:20,480 coming back up? What's going to happen here? 322 00:24:21,160 --> 00:24:25,359 Speaker 5: Well, I thought that they that spoke up to one 323 00:24:25,480 --> 00:24:32,279 ten at year end was celebrating the beginning of Trump's 324 00:24:32,400 --> 00:24:36,200 term of as president. And then that was that it 325 00:24:36,319 --> 00:24:37,039 was overbought. 326 00:24:37,240 --> 00:24:41,319 Speaker 6: And then then it got hit, you know, very hard, 327 00:24:41,559 --> 00:24:42,880 in a very fast time. 328 00:24:43,440 --> 00:24:46,680 Speaker 4: So our current look now for the. 329 00:24:47,319 --> 00:24:53,240 Speaker 5: R DX is it just got trashed and now we 330 00:24:53,400 --> 00:24:56,799 think it can We prefer that it. 331 00:24:56,799 --> 00:25:01,039 Speaker 6: Would trade and narrow range sideways for a few months 332 00:25:01,680 --> 00:25:05,519 and we'll see what happens there and then also we 333 00:25:05,559 --> 00:25:10,000 want to keep in mind that a lot of the 334 00:25:10,000 --> 00:25:14,000 good stuff happens as you get into mid year. Remember 335 00:25:14,000 --> 00:25:18,920 the old thing selling me and go Away, and. 336 00:25:19,559 --> 00:25:22,440 Speaker 5: All of the great financial bubbles as they occurred in 337 00:25:22,440 --> 00:25:25,200 London peaked in May or June, and then did it 338 00:25:25,279 --> 00:25:29,079 around in the summer months and then got nailed in 339 00:25:29,119 --> 00:25:32,240 the fall beginning in late. 340 00:25:32,039 --> 00:25:36,920 Speaker 13: September, and most of them had their dreadful time in 341 00:25:36,960 --> 00:25:38,319 October and. 342 00:25:38,240 --> 00:25:42,000 Speaker 4: Then sort of settled out and set a base and 343 00:25:42,519 --> 00:25:45,559 cleared the markets in the middle of November. 344 00:25:46,200 --> 00:25:50,039 Speaker 6: It's step one the eighteen twenty five bubble where the 345 00:25:50,079 --> 00:25:55,079 forced liquidation went right through November and actually into the 346 00:25:55,119 --> 00:25:59,000 first week in January. And I couldn't find any reason 347 00:25:59,039 --> 00:26:01,000 for it. It just happened that way. 348 00:26:01,440 --> 00:26:05,400 Speaker 5: So we are at the time of the year one 349 00:26:05,640 --> 00:26:09,960 good times may be found. And then beginning in the fall, 350 00:26:10,240 --> 00:26:10,759 you go. 351 00:26:10,720 --> 00:26:15,519 Speaker 12: Into October and that typically has been the time if 352 00:26:15,559 --> 00:26:19,519 there's going to be a discovery of a disaster, the 353 00:26:19,640 --> 00:26:21,400 discovery of the meat in the fall. 354 00:26:21,880 --> 00:26:26,720 Speaker 5: So that's what we want to keep our eye on, Carrie. 355 00:26:27,319 --> 00:26:27,920 Speaker 2: In the fall. 356 00:26:27,960 --> 00:26:32,400 Speaker 3: Well, it's always then, right, it always happens, it seems like. 357 00:26:32,519 --> 00:26:35,880 But also we had some crashes in March as well, 358 00:26:36,519 --> 00:26:41,960 but we're past March. We're on to We're on to 359 00:26:42,119 --> 00:26:43,880 the bigger and better things here. 360 00:26:43,960 --> 00:26:44,240 Speaker 2: Bob. 361 00:26:44,599 --> 00:26:48,400 Speaker 3: Well, I know you got this list you hinted at. 362 00:26:48,680 --> 00:26:49,960 Speaker 2: How do we get the list? 363 00:26:50,240 --> 00:26:55,680 Speaker 5: Okay, yeah, just getting sending a request to me, Bob 364 00:26:55,720 --> 00:26:59,920 along at Shaw dot ca A or two. You're off 365 00:27:00,160 --> 00:27:06,759 us and just request the list of juniors, Bob Roy's 366 00:27:06,839 --> 00:27:09,680 list of juniors, and we'll be glad to send it 367 00:27:09,720 --> 00:27:09,920 to you. 368 00:27:10,599 --> 00:27:12,960 Speaker 2: Excellent, all right, Bob. It's always a pleasure. 369 00:27:13,119 --> 00:27:15,079 Speaker 3: If you've got a question for Bob or myself, you 370 00:27:15,119 --> 00:27:18,960 want that list, Klatcarrie LUTs dot com. I know I've 371 00:27:18,960 --> 00:27:21,799 got a couple of requests pending. I'll forward them off 372 00:27:21,799 --> 00:27:25,240 to you, Bob and you can ship them out. Appreciate 373 00:27:25,279 --> 00:27:28,359 your coming on. We will talk to you again soon, 374 00:27:28,519 --> 00:27:31,839 but the things are definitely getting interesting. 375 00:27:32,400 --> 00:27:34,279 Speaker 4: They are kery fun to talk with you. 376 00:27:34,720 --> 00:27:38,880 Speaker 1: Thanks for listening to Carrie Letz's Financial Survival Network, your 377 00:27:38,960 --> 00:27:42,759 solution to today's trying times. For the latest, go to 378 00:27:42,920 --> 00:27:47,359 Financial Survivalnetwork dot com. Financial Survival Network 379 00:27:47,640 --> 00:27:49,200 Speaker 2: Now more than ever