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Speaker 1: You're listening to Carrie Let's's Financial Survival Network, where you

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

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

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Network now more than ever. Go to Financial Survivalnetwork dot

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com and get your free newsletter and gift. Financial Survival

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Network now more than ever.

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Speaker 2: Welcome, this is Financial Survival Network. Come your host Carrie

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Let's and well gold have you watched gold? Have you

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watched silver? Gold over twenty seven hundred dollars announced, Silver

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over thirty four dollars announce today before pulling back a

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little bit. And by the way, this is October twenty

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first of twenty twenty four. Bob hoy is with us now,

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the master of economic history who can read the future

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by simply looking at the past. Bob, it's great to

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have you back on. So what is happening now?

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Speaker 3: Very good to be with you with our listeners. And

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thanks very much for the rave review. I'm going to

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try hard to live up to it.

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Speaker 4: Yeah, check the accident.

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Speaker 3: Silver getting a little overbought in the weekly. But the

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rise is not over. It might run into resistance in

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the next month or so.

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Speaker 4: And there is.

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Speaker 3: Some resistance and it's getting overbought, but not enough to

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make a.

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Speaker 4: Call to change anybody's position.

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Speaker 3: And it's a good benchmark for the pressure the whole

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pressures metal sector, gold and gold and silver stocks as well.

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So I'm enjoying the rally and content with the gains

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and looking on this move for a little more.

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Speaker 2: Yet, so how much hardy much higher.

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Speaker 4: Can it go?

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Speaker 3: I haven't put it well as I said don silver.

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It's that a zone of resistance to thirty five level.

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And then they what you know, we look at it

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from a historical view, and also to put the history

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together carry you have to deep plate the price of gold.

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Of course, it's been in the plate of it years

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ago by the consumer price. In the show, we call

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it the rate of inflation because in England's long history

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as a senior economy, there was a long period when

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gold was convertible into or the currency was convertible into

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a fixed amount of gold, i e. A gold standard.

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But within this the real price of gold fluctuates. The

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old story about the guinea to buy a man's suit, say,

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that's in very all over the place. So what happens

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with gold dey plated is that it downticks going into

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a great financial bubble. And of course the last big

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high for golden silver was in twenty eleven. I mean

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that was a blowoff. But then in as the post

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bubble contraction comes in, real prices turned up. And it

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has and I've got to start going this turning point

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on the bubbles nineteen twenty nine, eighteen seventy three, eighteen

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twenty five, seventeen seventy two, and all the way back

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to seventeen twenty. So it's a consistent pattern and it

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leads to overall a twenty year bow market whereby gold

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real price goes up. Now, Kerri, well, last year, a

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year going June, we found a nice, a more.

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Speaker 4: Vivid way of looking at it.

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Speaker 3: I took price the golden divide by the CRB quantity

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in the then suggested that the CRB commanditied and it's

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just actually a proxy for the clock the mining. The

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TRB is going going down relative to the bullion price

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that BABA margins are going up, and it has nothing

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to do with the dollar. With the DX. Now, all

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the gold and silver bugs out there all get excited

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and in their mind, the only way the game will

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work is the dollars going to crash. Well, here's another

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one from history. One of the I got four items

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that are key detracting the transition from a great financial

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mania to a depression, and one of them is goldst

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price going down. The middle is the bubble finished, then

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going top.

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Speaker 4: Got that one.

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Speaker 3: The other one is that copper goes up with the

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bubble and then goes down, and that one was working.

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And then the other is real long interest rate like

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for the tenures, it goes up. And then, of course

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the court item is the US dollar becomes the senior currency,

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becomes fun the firm. And I think I can give

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an explanation of why this happened. During the financial bubble,

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everybody around the world goes to New York, the world's

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financial center, and posh money. And then when the bubbles over,

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the pleasures are.

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Speaker 4: That you pay the money back.

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Speaker 3: So everybody out there is selling something the other guy's

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currency is selling copper whatever they produce in order to

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get their hands on dollars in order to service obligations.

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Speaker 4: In New York is the financial capital.

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Speaker 3: A long time ago, it was the British Sound and

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London when London was the financial capital.

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Speaker 4: So this has been around for a long time.

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Speaker 3: And so I really like working with the gold divided

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by the CRB. And it is up as you would

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expect that new highs not over got, but this is

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now I think eight months of rising. So on this

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thematic all the gold miners their profit margin should be

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improved roughly through this business of gold bullion price outperforming

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the cost of mining. And this is a very practical

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way of looking at it, rather than getting all excited

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about the evils of the Fed. And the dollar is

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going to go to zero, Well, there's a whole lot

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of currency gout.

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Speaker 4: This and we're going to go to zero before the

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US dollar does, and as a.

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Speaker 3: State, strengthen the senior currency and be described as being

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due to the disservicing debt obligations in New York. Take

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a look at Argentina. They're always complaining about the strong dollars,

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but they awe huge dollars in doing table in the

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New York. And then the great Thomas Gresham in fifteen

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fifty he was the financial agent for England in the

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money market in Antwerp, that was then the commercial and

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financial center of the world, and in his letters he

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points out to the crown. How difficult it is in

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meeting debt obligations the weak currency to the strong senior currency.

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So there's lots of letters about that and which I've

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enjoyed reading. I've got a book on aggression, and then

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there's many sources on aggression. So you know, there's a

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pression law, which is bad bad money forces out good money.

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He wrote something pretty close to that, but hey, I'll

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give him credits for it. He got it, he nailed it.

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And the problem is servicing debt from a week to

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a strong senior currency.

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Speaker 4: So this is what the world is going to be.

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Speaker 3: Facing with over the next couple of decades. So, and

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that's the first long time volliged on goals real price.

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With the real price going up, uh, my producers, their

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profit margins will be enhanced. And then even that then

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puts the better valuation on on mineral exploration bets. And

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it's it's just the way it works.

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Speaker 2: So yeah, so rumor of the dollars demise have been

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greatly exaggerated.

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Speaker 3: Huh, yeah, it's not. Let's put it this way. A

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posticating a good move for gold based upon a falling

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dollar is a speculation in for an exchange fluctuation. But

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if you go with the idea that with the commodity

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praises being weak, their profit margins are improving and therefore

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their cash boats are improving. So then when you're buying

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the gold sector based upon a stream of increasing earnings,

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that's investing. And I can see it with if the

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big stock market gets bad, and I believe it will,

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and then you've got ordinary fund managers, equity fund managers,

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it wouldn't touch the goals with a ten foot ball.

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Speaker 4: But if you get a couple of.

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Speaker 3: Quarters where the GDX is outperforming VS. And P, those

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guys looking for performance will have to buy the golds.

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So I'm very fullish on gold stocks. We're early early

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years in a multi year bull market for the gold.

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Thank god you had gold stocks going to the moon.

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Don't mind that sort of stuff. Foster, Yeah, Foctor started

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at nineteen twenty two. And then if you go back

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to previous depressions, there was always the real price went up,

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and then eventually there was many unemployed and commercial areas

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around the world and the real place designed, so then

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you had your great mobile gold rusts at the worst

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of depression.

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Speaker 2: This minute understood, and yeah.

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Speaker 3: Sospet eighteen forty nine to the California gold Rush, the

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flash in bottom of eighteen forty four, eighteen forty five

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and then eighty ninety seven gold rush up and the

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Klondike was a great president ended at eighteen ninety five.

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Speaker 2: Right, gotcha? So what more can we look forward to here,

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Bob in.

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Speaker 3: The stock market possible, it's not yet overbot, but when

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it finally gets there and rolls over, we'll be going

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into a bear market. On the bond side, even treasuries

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are vulnerable mainly to a liquidity crisis. So for fixed

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income people, we say, take a look at the three

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to four year good grade US corporate bonds. You'll get

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it because if you go short term right t bills

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are various positive things, the field's going to head towards zero.

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But if you're in a three year good grade corporate bond,

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you're getting a decent yield and the price for whips

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are you and it's going to be maturing at par

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three years or four years hence, So that's kind of

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a nice investment world. I mean, even even equity people

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rather than being long equities and vulnerable there, but parking

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in three to four year good grade carpet.

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Speaker 2: Okay, all right, so you have a list of stocks

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that you expect to perform, will so how well is

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it performed so far this year?

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Speaker 3: Above our list of gold juniors. Yeah, there's been a

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couple of turkeys that have done nothing out of a

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list I think it was eleven, but on average they're

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uptempre ten is the Christmas and so. But the point

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of going at gold juniors when when it.

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Speaker 4: Really takes off.

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Speaker 3: These things have the potent for making big moves, and

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you can you can buy and leverage up on them,

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but that's there. Whereas if you buy a suite of

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junior gold, hey, the downside is not much and in

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some cases the upside could be rather good if if

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somebody may well the sector will do well in a

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rising market for general gold shares because at a at

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a bear market they get overlooked. Where because when you're

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when you come out, you get the gold starts out

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performing first, then the middling size once and then finally the.

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Speaker 4: Juniors get.

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Speaker 3: And so the percent gains in these things can be

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rather good as the bull market continued.

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Speaker 4: And then you.

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Speaker 3: Also have the possibility that one of them could come

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up with a discovery, in which case you've got a

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global phenomenon. Way back when six I made a list

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of five doing your goals, and one of them was Irequipa,

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and it went to thirty dollars. It was taken over

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by somebody for a one point one billion dollar market cap.

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Speaker 4: So your goal juniors can do very well.

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Speaker 2: All right, Well, always interesting speaking with you there on him.

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Speaker 3: People put it far about the list and we'd be glad.

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Speaker 2: To send it, all right, And actually we're going to

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put a link to your list in the show notes

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to this interview on Financial Survival Network dot com. If

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you've got a question for Bob or myself, shoot me

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an email right away to kl at Carrie LUTs dot com.

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We'll get your question answered quickly. And hey, while you're

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at the site, please sign up for your free newsletter Bop.

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Always amazing talking to you. Be well and stay dry here.

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You got like major flooding up north there, so stay

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drunk high.

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Speaker 3: We had some rain, but it's the storms quit now

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and great to talk carry look forward at anytime.

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Speaker 2: Yeah, we've been having our share of rain here too

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in Florida, so we can totally empathize with you. We'll

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talk to you again in a month or two and

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see where this mess leads us next.

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Speaker 1: The thanks for listening to Carrie Lets. This Financial Survival

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Network your solution to today's trying times. For the latest, go

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to Financial Survivalnetwork dot com. Financial Survival Network now more

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