1 00:00:00,200 --> 00:00:04,000 Speaker 1: You are listening to Carrie Letz's Financial Survival Network, where 2 00:00:04,040 --> 00:00:07,440 you get valuable information you just can't find anywhere else 3 00:00:08,000 --> 00:00:11,599 to thrive in today's trying times. You need the Financial 4 00:00:11,679 --> 00:00:16,760 Survival Network now more than ever. Go to Financial Survivalnetwork 5 00:00:16,800 --> 00:00:20,519 dot com and get your free newsletter and gift. Financial 6 00:00:20,679 --> 00:00:24,039 Survival Network now more than. 7 00:00:23,879 --> 00:00:30,640 Speaker 2: Ever, And welcome you are watching and listening to the 8 00:00:30,679 --> 00:00:35,000 Financial Survival Network. I'm your host, Carrie Letz. Today. It's 9 00:00:35,399 --> 00:00:39,439 January thirtieth, twenty twenty six. Big day. I couldn't have 10 00:00:39,439 --> 00:00:42,840 planned it better. Martin Armstrong is on with us now. 11 00:00:43,960 --> 00:00:48,079 It's been kind of a momentous day and a momentous 12 00:00:48,200 --> 00:00:52,200 month in the metals markets for sure. I mean, as 13 00:00:52,520 --> 00:00:56,679 we're talking, gold is down five hundred five dollars the 14 00:00:56,719 --> 00:01:01,520 ounce silver is down thirty two dollars the oun ounce. Martin, 15 00:01:01,560 --> 00:01:06,040 you were like calling for Monday for an inflection point 16 00:01:06,239 --> 00:01:10,159 for gold. You were off by twenty four hours. But 17 00:01:10,599 --> 00:01:13,439 I guess it's better than most of these other analysts 18 00:01:13,519 --> 00:01:16,280 who are off by years and decades. 19 00:01:16,359 --> 00:01:21,480 Speaker 3: Right. Well, it's you can you know, it's like holding 20 00:01:21,519 --> 00:01:23,439 your hand up in the air. We're gonna do that, 21 00:01:23,560 --> 00:01:27,480 but keep it there eventually gets it feels so heavy 22 00:01:27,560 --> 00:01:31,480 it's got to come down, you know. And the biggest 23 00:01:31,519 --> 00:01:36,519 problem with the metals, which is very interesting this time, 24 00:01:38,719 --> 00:01:42,879 most of the rally has been astley short covering rather 25 00:01:42,959 --> 00:01:46,439 than you know, people running out no I got just 26 00:01:46,480 --> 00:01:50,239 got to buy it sort of thing. So you don't 27 00:01:50,400 --> 00:01:56,879 have the real tremendous speculative type bubble in demand bubble. 28 00:01:57,359 --> 00:02:02,359 And I've spoken to many people in the industry, refiners, 29 00:02:02,400 --> 00:02:07,319 et cetera. And what's going on is that a lot 30 00:02:07,359 --> 00:02:12,159 of people have that did have silver or dumping it 31 00:02:12,280 --> 00:02:16,639 at these kind of prices to the point that the 32 00:02:16,680 --> 00:02:20,680 refiners are no longer you know, even accepting it or 33 00:02:21,960 --> 00:02:23,560 offering any money in advance. 34 00:02:24,960 --> 00:02:26,319 Speaker 2: They're puking silver. 35 00:02:27,000 --> 00:02:32,000 Speaker 3: Yeah, it's that comes back to the you know, to 36 00:02:32,120 --> 00:02:35,560 the small dealers. They you know, they can't buy it 37 00:02:35,639 --> 00:02:40,639 because they can't sell it. They don't have the capital 38 00:02:40,680 --> 00:02:44,120 to keep going. So you know, whatever they buy today, 39 00:02:44,159 --> 00:02:47,199 they're typically selling it off to the wholesalers the next day. 40 00:02:47,560 --> 00:02:50,000 And if they're not paying it's taken two to three 41 00:02:50,000 --> 00:02:55,039 months to get it, then they stop buying. This is 42 00:02:55,080 --> 00:02:59,400 really what's going on, and so you get an inflection 43 00:02:59,560 --> 00:03:03,759 point at this stage. But our computer is clearly showing 44 00:03:03,800 --> 00:03:07,039 this is not, you know, the end of the bull market. 45 00:03:07,280 --> 00:03:11,159 This is not a major long term high like nineteen 46 00:03:11,240 --> 00:03:16,560 eighty something along those lines. This is this is still 47 00:03:16,599 --> 00:03:22,719 a perfect storm in the sense that we have shortages 48 00:03:22,759 --> 00:03:30,400 in metals, lack of refining capacity, we have sovereign debt 49 00:03:30,439 --> 00:03:35,080 crisis going on around the world, and then you got war. 50 00:03:37,080 --> 00:03:41,800 So when you have this sort of a perfect storm, 51 00:03:42,159 --> 00:03:45,319 you know, it still looks as though fine, you get 52 00:03:45,360 --> 00:03:49,520 an inflection point, you pull back short term, and then 53 00:03:49,599 --> 00:03:54,560 it's gonna you know, take off again. We may even 54 00:03:54,599 --> 00:03:58,080 see a temporary low by next week and then it 55 00:03:58,159 --> 00:04:02,960 bounce back again. It's mainly people who have been shorting 56 00:04:03,159 --> 00:04:08,280 expecting it, you know, like sixty two decline and all 57 00:04:08,360 --> 00:04:10,280 this stuff, and that it's going to stay down there. 58 00:04:10,639 --> 00:04:13,120 We're just not dealing with the same thing that we 59 00:04:13,120 --> 00:04:14,520 were dealing with years ago. 60 00:04:15,280 --> 00:04:20,279 Speaker 2: Yeah, the physical shortage, the actual deficit in silver. And 61 00:04:20,319 --> 00:04:26,120 then we have expanding industrial uses in everything. I don't 62 00:04:26,120 --> 00:04:30,519 have to repeat them, but cars, you name it, cars, cruise, missiles, 63 00:04:31,000 --> 00:04:36,519 and solar panels and all the electronics. They all need silver. 64 00:04:36,600 --> 00:04:40,800 There's no substitute, and we haven't been producing enough because 65 00:04:40,879 --> 00:04:45,040 prices have been too low, and it's all byproduct product mining. 66 00:04:45,519 --> 00:04:48,680 So when we talked a couple of times ago, you 67 00:04:48,720 --> 00:04:53,199 said goldwood hit five thousand and then ten thousand really quick, 68 00:04:53,240 --> 00:04:56,480 because when it breaks a number like five thousand, then 69 00:04:56,480 --> 00:05:02,040 there's not much resistance ahead. So you called this your 70 00:05:02,160 --> 00:05:07,720 article was yesterday saying that Monday was probably that point, 71 00:05:08,000 --> 00:05:11,879 and it turned out to be Friday. But ten thousand 72 00:05:11,879 --> 00:05:13,920 gold is still on the horizon, isn't it. 73 00:05:14,680 --> 00:05:19,319 Speaker 3: Yeah, I mean, this is not longer term roaming. By 74 00:05:19,319 --> 00:05:23,120 the time we get into twenty thirty two, I would 75 00:05:23,199 --> 00:05:26,839 expect like silver at least like you around one sixty five, 76 00:05:29,040 --> 00:05:31,439 you know, and the same thing with gold. 77 00:05:31,600 --> 00:05:32,199 Speaker 2: I mean. 78 00:05:33,480 --> 00:05:36,720 Speaker 3: A lot of the unfortunately, a lot of the gold 79 00:05:36,759 --> 00:05:43,720 bugs have constantly misrepresented what gold has gone up for. 80 00:05:46,240 --> 00:05:48,639 I mean, I was there in the nineteen eighties, and 81 00:05:49,480 --> 00:05:54,160 you know, gold went from about four hundred to eight 82 00:05:54,240 --> 00:05:57,240 seventy five in the last six weeks, and that's when 83 00:05:57,399 --> 00:06:03,079 Russia invaded Afghanistan. It's geopolitical, it's not You don't get 84 00:06:03,120 --> 00:06:08,560 that doubling effect in six weeks because of inflation. You know, 85 00:06:09,120 --> 00:06:13,680 that's just nonsense. It's more of a geopolitical thing. It's 86 00:06:13,720 --> 00:06:18,480 the same thing, you know, like with bricks. He took 87 00:06:18,680 --> 00:06:24,439 Russia out of Swift. That was then a warning sign 88 00:06:24,560 --> 00:06:28,000 to everybody else if we you know, if they don't 89 00:06:28,120 --> 00:06:33,319 do want the Biden administration ordered them to do, they 90 00:06:33,319 --> 00:06:38,000 could be removed. And you even have Lincoln even threatened China. 91 00:06:39,160 --> 00:06:42,199 You know, don't support Russia in this Ukraine war. We 92 00:06:42,319 --> 00:06:47,439 might do the same to you. Really, you know, the 93 00:06:47,600 --> 00:06:52,680 problem I have with these people is that they and 94 00:06:52,800 --> 00:06:56,639 all honestly, they're complete idiots because all they look at 95 00:06:56,839 --> 00:06:59,920 is what's in front of their nose. Oh, I got 96 00:07:00,040 --> 00:07:04,639 to beat Russia, so let's do this. Okay, what are 97 00:07:04,680 --> 00:07:08,959 the implications of what you're doing? All right, It's like 98 00:07:09,240 --> 00:07:14,680 the Vietnam War. Okay, you've got Robert McNamara before he died. 99 00:07:14,720 --> 00:07:19,040 It's on YouTube and he wrote a book. Sorry, we 100 00:07:19,040 --> 00:07:23,160 were wrong, Okay we thought Russia was involved. Well, not 101 00:07:23,199 --> 00:07:28,759 only did fifty eight thousand Americans die because they were wrong, 102 00:07:29,879 --> 00:07:36,319 but it broke Brenton Woods. It's the whole gold standard. 103 00:07:36,360 --> 00:07:40,360 I mean, you know, I think a three year old 104 00:07:40,360 --> 00:07:43,040 would a pocket calculator could have figured it was going 105 00:07:43,079 --> 00:07:47,560 to crash. You can't fix the price of gold at 106 00:07:47,600 --> 00:07:51,079 thirty five dollars but then continue to print dollars for 107 00:07:51,160 --> 00:07:55,199 whatever you want to wage wars. Then you had Johnson 108 00:07:55,240 --> 00:08:00,199 in the Great you know, society and socialism amounted is 109 00:08:00,240 --> 00:08:09,680 being created with no understanding that how do you do 110 00:08:09,800 --> 00:08:12,959 that and still maintain a thirty five hour fixed rate. 111 00:08:15,879 --> 00:08:19,000 It's that's what I mean. It's just to me, it's 112 00:08:19,800 --> 00:08:23,959 it's very frustrating because you would think somebody would common 113 00:08:24,160 --> 00:08:29,319 sense would figure out, you can't fix the currency and 114 00:08:29,439 --> 00:08:31,680 at the same time print as much as you want. 115 00:08:32,799 --> 00:08:35,919 Speaker 2: Yeah, but we're still we're still doing the same thing, right, 116 00:08:35,960 --> 00:08:38,240 I mean, look at these deficits. 117 00:08:39,080 --> 00:08:43,519 Speaker 3: But there it's at least not fixed. If it was fixed, 118 00:08:43,639 --> 00:08:45,639 I mean, we wouldn't be able to last this fall. 119 00:08:48,279 --> 00:08:54,559 But you know, and you know, then you get these 120 00:08:54,600 --> 00:08:58,240 people to say, oh, it's good it's fiat because it's 121 00:08:58,279 --> 00:09:06,879 not backed were you They don't understand what a currency is. 122 00:09:08,480 --> 00:09:11,440 The backing of it is the wealth of the nation. 123 00:09:12,519 --> 00:09:17,080 It's the productivity of the people. And I mean both 124 00:09:17,960 --> 00:09:21,799 China and Japan rose from the ashes after World War 125 00:09:21,840 --> 00:09:27,480 Two for productivity, not gold. They both became the largest 126 00:09:27,559 --> 00:09:34,240 in their respective regions. All right, if the backing of 127 00:09:34,320 --> 00:09:38,919 a currency with you know, commodities is supposed to be 128 00:09:39,120 --> 00:09:44,799 the real value, then Russia should be number one, right, 129 00:09:45,759 --> 00:09:50,679 they got more commodities than anybody. Then you had the 130 00:09:50,799 --> 00:09:56,679 dour going up after Brenton Woods collapse, and so the 131 00:09:58,240 --> 00:10:02,600 again the gold bug inflation. This were wrong. They thought 132 00:10:02,639 --> 00:10:05,279 the dollar would collapse. So then they came up with 133 00:10:05,360 --> 00:10:09,919 the petro dour theory. Oh it's now the dollar is 134 00:10:09,960 --> 00:10:13,559 backed by oil. Okay, well then why is not the 135 00:10:13,639 --> 00:10:21,759 SORTI real number one currency each you know, and oil 136 00:10:21,879 --> 00:10:24,919 is not you know, it's it's less than ten percent 137 00:10:25,000 --> 00:10:29,240 of world trade. So where is that the backing of 138 00:10:29,279 --> 00:10:37,759 the dour? You know, well you have to understand. You know, 139 00:10:38,840 --> 00:10:42,159 you can go on eBay and buy bonds. China issued 140 00:10:42,200 --> 00:10:46,840 bonds and British pounds before World War One. Everybody went 141 00:10:46,879 --> 00:10:50,440 to Britain to sell their bonds because that was the 142 00:10:50,519 --> 00:10:55,799 financial capital. That's where money was. You needed money, you 143 00:10:55,840 --> 00:10:59,480 went there to borrow. After World War two, New York 144 00:10:59,519 --> 00:11:06,799 became that away. So all these emerging markets they issue 145 00:11:06,960 --> 00:11:11,039 debt and dours so they can sell it. This was 146 00:11:11,080 --> 00:11:17,840 the problem in China. China should have been more authoritarian. 147 00:11:19,960 --> 00:11:25,120 They told their provinces and people do not borrow in dollars. 148 00:11:25,919 --> 00:11:31,159 They all did. The dollar went up and they all 149 00:11:31,200 --> 00:11:35,759 lost a ton of money. You know. They were just oh, gee, 150 00:11:35,840 --> 00:11:39,440 yes I can, I can save money on interest rates. 151 00:11:39,480 --> 00:11:42,440 I can save two percent if I go in dours. Okay. 152 00:11:42,559 --> 00:11:44,440 Then the dollar goes up twenty percent and I think 153 00:11:44,480 --> 00:11:50,440 you lost your shirt, you know. So it's it's more 154 00:11:50,480 --> 00:11:56,080 than all that. It's the strength and support of the 155 00:11:56,240 --> 00:12:01,720 dour is the economy itself. Japan's got to sell its 156 00:12:01,759 --> 00:12:07,480 toyotas to Americans, Germany's got to sell it as BMWs to Americans. 157 00:12:07,879 --> 00:12:09,519 Speaker 2: So we're the. 158 00:12:09,559 --> 00:12:15,159 Speaker 3: Largest consumer based economy and they're all selling their stuff here. 159 00:12:15,639 --> 00:12:18,559 Speaker 2: And they have no choice. Right, they have to sell 160 00:12:18,600 --> 00:12:21,840 here or they lose a huge part of their market. 161 00:12:23,840 --> 00:12:28,159 Speaker 3: Look, that was the whole idea behind the Euro. This 162 00:12:28,240 --> 00:12:34,000 is why Germany. Cole took Germany into the Euro. It 163 00:12:34,080 --> 00:12:37,480 didn't allow the people to vote. Under this theory that 164 00:12:37,639 --> 00:12:42,600 with a single currency for Europe, they could export more cars, 165 00:12:42,600 --> 00:12:45,840 et cetera to the rest of Europe and eliminate the 166 00:12:45,919 --> 00:12:49,200 foreign exchange risk. Is that the Deutsche mark went up 167 00:12:49,759 --> 00:12:52,240 by twenty percent, then the price of a car to 168 00:12:52,320 --> 00:12:55,080 an Italian went up twenty percent and they couldn't sell it. 169 00:12:58,120 --> 00:13:02,480 So I mean it's I mean, I mean I saw that. 170 00:13:02,559 --> 00:13:06,200 Back in eighty five. I was living in London. I 171 00:13:06,240 --> 00:13:07,559 bought a Ferrari. 172 00:13:09,279 --> 00:13:09,919 Speaker 2: Three h eight. 173 00:13:10,840 --> 00:13:14,320 Speaker 3: It was like it was a sixty some thousand dollars 174 00:13:14,399 --> 00:13:18,840 car in the United States at the time, and in 175 00:13:18,919 --> 00:13:22,799 British pounds, the pound went down the par so I 176 00:13:22,840 --> 00:13:28,440 got forty some forty two thousand, whatever it was. But 177 00:13:28,480 --> 00:13:33,799 then the pound went back to two dollars. Ferrari couldn't 178 00:13:33,799 --> 00:13:38,639 afford to sell cars at forty some thousand, so they 179 00:13:38,759 --> 00:13:42,919 raised the price in pounds. But then the pound doubles, 180 00:13:43,559 --> 00:13:49,240 and then everybody saw Ferraris were suddenly doubling price, so 181 00:13:49,320 --> 00:13:53,679 they the idiots. They then these saw people buying ferraris, 182 00:13:53,759 --> 00:13:56,840 could have thought the Ferrari was the investment. It was 183 00:13:56,960 --> 00:14:04,120 just currency. Yeah, you know, I'm Me's somebody in Toronto. 184 00:14:04,279 --> 00:14:07,440 We had like forty ferraris and he thought this was 185 00:14:07,480 --> 00:14:10,960 a fantastic investment, you know, as it wasn't the Ferrari 186 00:14:11,039 --> 00:14:13,519 that went up. I'm sorry, it was all crazy. 187 00:14:15,399 --> 00:14:19,799 Speaker 2: I love it. I love it. So at the World 188 00:14:19,840 --> 00:14:23,440 Economic Conference, and any of you out there, I highly 189 00:14:23,519 --> 00:14:26,960 recommend that you go to the next one because it's 190 00:14:27,039 --> 00:14:30,080 just you can't get information in that group of people 191 00:14:30,159 --> 00:14:33,600 that are there. You'll never find these people any other place. 192 00:14:34,240 --> 00:14:37,960 But you talked about the panic twenty twenty six being 193 00:14:38,080 --> 00:14:41,759 panic cycle year. It looks like it's living up to that, 194 00:14:42,039 --> 00:14:46,559 and we're getting closer and closer. If I remember correctly, March, 195 00:14:48,000 --> 00:14:51,759 March May, April May, it was kind of where it peaks. 196 00:14:52,159 --> 00:14:57,080 Speaker 3: Yeah, it's a panic cycle is typically something that takes 197 00:14:57,080 --> 00:15:03,000 out both directions perspective. You just succeeded yesterday's high and 198 00:15:03,120 --> 00:15:05,279 you turn around and you crashed for the afternoon, you 199 00:15:05,360 --> 00:15:08,799 take out the low. That's what we call panic cycle. 200 00:15:11,039 --> 00:15:16,039 So we had this on warm starting here in twenty six, 201 00:15:18,360 --> 00:15:24,960 as well as the euro and so you have the 202 00:15:25,000 --> 00:15:30,399 euro rising, expected it to rise first and then turn 203 00:15:30,440 --> 00:15:38,159 around and go down. The prospect of war developing it 204 00:15:38,200 --> 00:15:43,039 is quite high. I mean, as you know, I was. 205 00:15:44,519 --> 00:15:47,320 I was shocked to be called in to even ask 206 00:15:47,399 --> 00:15:52,559 to write a the peace plan for Russia, and I 207 00:15:52,639 --> 00:15:56,039 took my assistant Hannah. I at first it was like 208 00:15:57,679 --> 00:16:00,519 I was being invited in for a briefing. I said 209 00:16:00,559 --> 00:16:03,519 you want to brief Neil on what's going on in Russia. 210 00:16:03,519 --> 00:16:07,320 I mean, all right, I'll show up. And then she 211 00:16:07,399 --> 00:16:11,279 had to leave the room. I said, oh, so this 212 00:16:11,360 --> 00:16:14,240 is the real national security stuff NOUSE, you know. And 213 00:16:16,600 --> 00:16:21,399 so I was asked to write this piece plan and 214 00:16:21,440 --> 00:16:26,399 then they said we want you to use your back channels. 215 00:16:26,879 --> 00:16:28,519 I said, you want me to do that and they 216 00:16:28,519 --> 00:16:32,879 said yes, So I did. I got it on Booten's desk. 217 00:16:34,360 --> 00:16:38,200 Took me four days to write the thing, and like 218 00:16:38,279 --> 00:16:42,120 a college prepared for a college exam, you're working fifteen 219 00:16:42,159 --> 00:16:47,600 hours a day. And like two days later, Lavrov came 220 00:16:47,600 --> 00:16:52,279 out and said, we are willing to guarantee we're not 221 00:16:52,480 --> 00:17:01,799 interested invading NATO. And at that meeting I was told, 222 00:17:02,759 --> 00:17:05,799 we agree with you. We will not be in war 223 00:17:05,920 --> 00:17:14,200 with Russia. It will be China. And so then I think, 224 00:17:14,279 --> 00:17:20,200 basically it got obvious why I was called in, because 225 00:17:20,240 --> 00:17:26,599 I think the neo khans that had been filtrated the 226 00:17:26,680 --> 00:17:32,599 Trump administration were blocking everything all the time. At that meeting, 227 00:17:33,839 --> 00:17:36,160 I mean, you know me, I just say whatever it 228 00:17:36,319 --> 00:17:40,119 is that, yeah, what the computer says. I don't really 229 00:17:40,119 --> 00:17:44,400 give a ship what they have to say. I said, look, 230 00:17:44,799 --> 00:17:47,480 we should get the hell out of NATO. They're going 231 00:17:47,519 --> 00:17:52,680 to create a false flag to invoke Article five to 232 00:17:52,759 --> 00:17:56,000 try and drag US in to fund their war. And 233 00:17:56,160 --> 00:18:04,079 I was surprised. The response was, yes, we know you're correct. Wow, 234 00:18:04,160 --> 00:18:09,920 I said, but yeah, wow. Then you had Rubio stand 235 00:18:10,039 --> 00:18:13,759 up swearing we're still in with NATO, We'll be there 236 00:18:13,799 --> 00:18:18,559 for NATO. I published I gotta basically a thank you 237 00:18:18,680 --> 00:18:23,640 letter from uh Trump. I was kind of surprised being 238 00:18:23,640 --> 00:18:27,519 called in, and I even asked, I said, is this sanctioned? 239 00:18:27,920 --> 00:18:30,119 Because I'm wondering if I'm being called in by some 240 00:18:31,079 --> 00:18:35,079 side group or something, you know, And I said, no, 241 00:18:35,319 --> 00:18:39,920 this is sanctioned. You were proved to be called I said, oh, right, fine. 242 00:18:40,759 --> 00:18:43,279 So now I did get a thank you letter from 243 00:18:43,319 --> 00:18:47,519 from Trump, which I put on the blog. But the 244 00:18:50,440 --> 00:18:53,039 I don't know what's out in the press right now. 245 00:18:54,279 --> 00:18:57,480 That should be out maybe today or by tomorrow or 246 00:18:57,559 --> 00:19:04,200 something like that. But now now I've heard that Trump 247 00:19:04,319 --> 00:19:10,359 is going to shut down over two hundred uh NATO installations. Wow, 248 00:19:10,640 --> 00:19:17,720 and people, so you know, check the press. That might 249 00:19:17,759 --> 00:19:22,799 be coming out, you know, very soon. So it's hard 250 00:19:22,839 --> 00:19:30,839 for me to say I've dealt with Europe and I've 251 00:19:30,880 --> 00:19:38,240 dealt with the US, and so i've i've again. I 252 00:19:38,240 --> 00:19:40,279 think part of the reason I was cold in as 253 00:19:40,319 --> 00:19:43,640 good as I was there called in initially for designing 254 00:19:43,680 --> 00:19:47,400 the euro from scratch. Uh so I know all the 255 00:19:47,480 --> 00:19:52,839 ins and outs and how it wasn't formed correctly. And 256 00:19:52,839 --> 00:20:00,599 and that's the debt problem that they have. We saw 257 00:20:00,640 --> 00:20:04,079 it initially in twenty ten when Greece got in trouble, 258 00:20:04,680 --> 00:20:14,079 right when you know, I'm not an academic, I'm a trader. 259 00:20:15,759 --> 00:20:20,400 After that, what happened immediately, all the guys they made 260 00:20:20,440 --> 00:20:27,599 a lot of money short and Greece great, Who's next, Oh, Spain? Okay, 261 00:20:27,759 --> 00:20:31,559 and then you go off all right, this is the 262 00:20:31,680 --> 00:20:37,799 problem with Europe because they did not consolidate the debt. 263 00:20:39,519 --> 00:20:43,359 Each country still has its own debt, and each country 264 00:20:43,440 --> 00:20:47,160 prints euros. They have little codes on the notes to 265 00:20:47,559 --> 00:20:54,000 say which central bank as it come from. The structural 266 00:20:54,160 --> 00:21:01,519 flaw here is you've had UK and France both admit 267 00:21:01,839 --> 00:21:05,680 their finance ministers admit they could be pushed to the 268 00:21:05,759 --> 00:21:10,279 point of eating an IMF bailout. That's what Greece was 269 00:21:10,279 --> 00:21:15,240 in twenty ten. Okay, So let's say for argument, and 270 00:21:16,000 --> 00:21:21,680 the traders are going are watching France meticulously. If it 271 00:21:22,319 --> 00:21:26,119 just smells like they might be in trouble, they're going 272 00:21:26,200 --> 00:21:32,039 to start shorting. So then what are you short You're 273 00:21:32,079 --> 00:21:35,720 going to look to see which banks hold the most 274 00:21:35,759 --> 00:21:40,599 French debt. That's how we worked with Greece. So then 275 00:21:41,240 --> 00:21:46,039 because they didn't consolidate this, it turns into a contagion. 276 00:21:47,319 --> 00:21:56,880 It effects Okay, who's next? Okay, Oh, Italy. I've been 277 00:21:56,920 --> 00:22:03,839 in discussions now they know what I've said for decades 278 00:22:05,480 --> 00:22:10,799 and what I've heard rather than reforming, rather than actually 279 00:22:10,799 --> 00:22:16,400 correcting the problem, all right, is that if Southern Europe 280 00:22:16,440 --> 00:22:21,400 got in trouble again, it would Greece, Spain, they would 281 00:22:21,480 --> 00:22:27,720 jettison them, regroup the Europe to the Northern States. I mean, 282 00:22:30,000 --> 00:22:36,799 these are our politicians in academics. They're not traders, right, 283 00:22:38,279 --> 00:22:42,640 what's the trader going to do? Start shorting this shit 284 00:22:42,720 --> 00:22:48,039 out of flaff looks weak? I mean, it's this is 285 00:22:48,079 --> 00:22:53,319 what they don't get. And that's my concern for Europe. 286 00:22:54,680 --> 00:22:57,759 And this is why they need war where they have 287 00:22:57,839 --> 00:23:01,839 to have an external enemy, because otherwise the people, if 288 00:23:01,839 --> 00:23:04,039 they're going to lose their pension funds and thinks of 289 00:23:04,119 --> 00:23:08,680 this nature they're going to be storming the parliaments with pitchforks. Right. 290 00:23:09,640 --> 00:23:11,720 You know, it's like Biden when he put it on 291 00:23:11,799 --> 00:23:15,880 the sanctions and gasoline went up. What did he say? 292 00:23:16,200 --> 00:23:23,680 Always Putin's inflation? But what you know, it's this is 293 00:23:23,759 --> 00:23:28,119 pretty standard. Uh. For it doesn't matter what government you're 294 00:23:28,160 --> 00:23:32,480 looking at, left, right, center, whatever. Uh, they will always 295 00:23:32,480 --> 00:23:33,799 blame an external anime. 296 00:23:34,880 --> 00:23:36,160 Speaker 2: Yeah, it's true. 297 00:23:36,319 --> 00:23:40,079 Speaker 3: So you go to Europe and they're all all Putin's evil. 298 00:23:40,200 --> 00:23:45,000 Putin wants to take your all this nonsense. You look 299 00:23:45,039 --> 00:23:49,240 at the press. I just read the Telegraph. I have 300 00:23:49,319 --> 00:23:53,799 no respect for any of them. All putinent dating unprovoked? 301 00:23:53,880 --> 00:24:00,519 Really okay? Uh. The day before Zelenski he stood up 302 00:24:00,559 --> 00:24:03,039 and said they were going to rewn with nuclear weapons, 303 00:24:05,160 --> 00:24:10,839 all right, And the Washington Post found out he knew 304 00:24:11,359 --> 00:24:15,880 when Russia was going to cross the border. And there's 305 00:24:15,920 --> 00:24:18,319 an interview you can look it up. And they asked them, 306 00:24:18,759 --> 00:24:24,319 why did you not warn your people? His response, if 307 00:24:24,359 --> 00:24:26,319 I told them we were going to be invaded, it 308 00:24:26,359 --> 00:24:28,400 would it cost me seven billion dollars? 309 00:24:28,880 --> 00:24:32,519 Speaker 2: Well, I mean, these. 310 00:24:32,359 --> 00:24:36,519 Speaker 3: People are not interested in their countries, they're not interested 311 00:24:37,079 --> 00:24:45,440 in humanity. Trump has I believe that is now out 312 00:24:45,480 --> 00:24:50,799 in the pressed my peace plan, I said, just honor 313 00:24:51,119 --> 00:24:53,839 the Mints agreement and the war. 314 00:24:55,680 --> 00:24:57,160 Speaker 2: Trumps has simple. 315 00:24:58,359 --> 00:25:03,680 Speaker 3: Just said to Zolenski he must surrender the Donbas in 316 00:25:03,960 --> 00:25:09,559 order for us to give him the guarantees. And that 317 00:25:09,799 --> 00:25:16,279 was the men's agreement. Yeah, eleon which are Russians okay? 318 00:25:16,640 --> 00:25:18,880 To simply vote, do you want to be part of 319 00:25:19,039 --> 00:25:24,880 Ukraine or separate? Check with Slovakia split along ethnic lines, 320 00:25:25,000 --> 00:25:34,079 Check Republic Slovakia, Yugoslavia broke up ethnic lines, Croatia, Erbia, Montenegro. 321 00:25:35,960 --> 00:25:40,519 This whole region has been occupied by Ottomans. I mean 322 00:25:40,640 --> 00:25:45,119 so many times that you have many different ethnic groups 323 00:25:45,680 --> 00:25:48,920 as are out there, and they hate each other, you 324 00:25:48,960 --> 00:25:50,920 know what I mean. It's just well, you know, inviting 325 00:25:50,960 --> 00:25:53,960 Hamas to set up to you as your next door neighbor. 326 00:25:54,119 --> 00:25:57,319 I mean it's in Israel. I mean, they just hate 327 00:25:57,359 --> 00:25:57,880 each other. 328 00:25:58,200 --> 00:26:00,559 Speaker 2: Yeah, there's certain things. 329 00:26:00,359 --> 00:26:04,839 Speaker 3: You're not going to overcome, you know, and Iran in Israel, 330 00:26:04,960 --> 00:26:08,960 I mean, it's religious, it's my god against your God. Yeah, 331 00:26:09,079 --> 00:26:12,480 all right, this is not okay. I'll give you, you know, 332 00:26:12,480 --> 00:26:16,839 a boardwalk for a park place. You know, Uh, this 333 00:26:16,880 --> 00:26:23,160 is much beyond that. The type of negotiation. This is 334 00:26:23,319 --> 00:26:29,000 ethnic hatreds that maybe it can be calmed down for 335 00:26:29,039 --> 00:26:32,119 a while, but they're always going to be there. Yeah, 336 00:26:33,480 --> 00:26:38,480 to employees in and we have conference and in Greece, 337 00:26:38,880 --> 00:26:42,559 and the one from Kiev refused to fly back the 338 00:26:42,640 --> 00:26:47,200 fastest way because the plane simply stopped in Moscow. Yeah, 339 00:26:49,640 --> 00:26:54,839 it's you're just changing plans. Nope, we'll not go there 340 00:26:55,200 --> 00:26:59,160 for those Russians. I mean it's this is what you're 341 00:26:59,160 --> 00:27:03,680 doing with the Atrich is systemic and you're not going 342 00:27:03,759 --> 00:27:09,839 to you know, Ukraine from the very beginning. You can 343 00:27:09,839 --> 00:27:14,240 search our blog. I said Ukraine should be split along 344 00:27:14,319 --> 00:27:20,759 ethnic lines like Yugoslavia and Czechoslovakia. It's the only way 345 00:27:20,799 --> 00:27:24,119 to peace. And how many millions of people have died 346 00:27:24,759 --> 00:27:28,920 for what We're at the same place Trump says, give 347 00:27:29,039 --> 00:27:32,920 up the dumb boss if you want to guarantees, you know, 348 00:27:33,079 --> 00:27:36,160 and there's just certain things you can't do. I mean, 349 00:27:36,240 --> 00:27:38,720 it's just you know, this is where we're at. 350 00:27:38,920 --> 00:27:41,880 Speaker 2: All right. Well, on that note, I got one favorite 351 00:27:41,880 --> 00:27:45,279 for you for part two of our video here if 352 00:27:45,319 --> 00:27:50,279 you could just pull up Socrates and tell us what 353 00:27:50,319 --> 00:27:53,880 you told us earlier, but just illustrated on the arrays 354 00:27:54,279 --> 00:27:58,920 for gold and silver coming up in the March area. 355 00:27:59,000 --> 00:27:59,960 That would be great. 356 00:28:00,079 --> 00:28:04,240 Speaker 1: Financial survival network. It's all about what's next. 357 00:28:05,640 --> 00:28:06,640 Speaker 2: This is part two. 358 00:28:06,839 --> 00:28:08,920 Speaker 3: Let's see look at that. 359 00:28:08,920 --> 00:28:09,839 Speaker 2: That's quite a chart. 360 00:28:10,039 --> 00:28:13,279 Speaker 3: Yeah, that's yeah, there was a chart on the gold. See, 361 00:28:13,359 --> 00:28:15,920 we have a major turning find twenty seven and I 362 00:28:15,920 --> 00:28:18,920 think that's gonna be linked in to war. And then 363 00:28:18,960 --> 00:28:21,599 your your biggest one is off in twenty thirty two 364 00:28:22,160 --> 00:28:26,839 with the pack cycle of that, right, But looking at 365 00:28:26,880 --> 00:28:31,359 this on a monthly level, here we had January which 366 00:28:34,079 --> 00:28:39,559 probably at best maybe you know, you got a minor 367 00:28:39,640 --> 00:28:42,839 turning point coming in February. The biggest one is going 368 00:28:42,880 --> 00:28:46,799 to be in March. Then you got April, May, June, 369 00:28:47,599 --> 00:28:53,119 on June, July. Abviously the summer looks like more like war. 370 00:28:54,400 --> 00:28:57,200 When you start correlating it with the rest of the world, 371 00:28:57,839 --> 00:29:03,440 it doesn't look very good. But if I don't see 372 00:29:03,480 --> 00:29:07,839 a like after nineteen eighty we had a nineteen year 373 00:29:07,880 --> 00:29:14,119 bear market, I don't see that the monetary system is 374 00:29:14,160 --> 00:29:18,519 probably going to crack. And by that I mean that. 375 00:29:21,119 --> 00:29:21,559 Speaker 2: Europe. 376 00:29:21,599 --> 00:29:28,680 Speaker 3: There's so much discontent within Europe itself, they have a 377 00:29:28,799 --> 00:29:33,880 high risk of civil unrest. Disagree in France from all 378 00:29:33,960 --> 00:29:37,960 the migrants that they've allowed in. And the problem with 379 00:29:38,240 --> 00:29:43,880 that is that they didn't come to share the and 380 00:29:44,000 --> 00:29:48,799 to assimilate. They came and say no, this is you 381 00:29:48,920 --> 00:29:52,359 see sections of Sweden and they said no, share a lawyer. 382 00:29:52,720 --> 00:29:57,200 You know you can't do that. That's almost like a conquest. 383 00:29:57,720 --> 00:29:59,920 I'm going to conquer this country and you're going to 384 00:30:00,079 --> 00:30:03,440 it's going to be mine. You're not going there to 385 00:30:03,519 --> 00:30:09,359 share something. As when they were designing the euro I 386 00:30:09,400 --> 00:30:13,480 told them they didn't understand the dollar, I said, and 387 00:30:13,559 --> 00:30:18,000 what made the door at work? I said? It was discrimination? 388 00:30:18,599 --> 00:30:21,160 They oh, how could you say that? I said, because 389 00:30:21,160 --> 00:30:25,000 it was fair. Whoever was the last off the boat? 390 00:30:25,440 --> 00:30:29,000 All right? What is the group that was discriminated against 391 00:30:29,440 --> 00:30:33,119 until they learned to speak English to get a job, 392 00:30:33,599 --> 00:30:36,720 and then they assimilated. And then you ask an American today, 393 00:30:36,759 --> 00:30:39,359 would are you go, oh, I'm half German, half Irish 394 00:30:39,440 --> 00:30:43,440 or Italian or whatever. Then everybody in you're married once 395 00:30:43,480 --> 00:30:46,559 you had the same language. That's what you don't see 396 00:30:46,599 --> 00:30:49,559 in Europe. Yeah, there's some exceptions, but do you really 397 00:30:49,559 --> 00:30:53,039 see somebody from Scotland going down and marrying somebody from Sicily? 398 00:30:55,079 --> 00:30:58,160 You know, they don't speak the same language, the cultures different. 399 00:30:58,799 --> 00:31:02,440 This is what keeps Europe divided. And that's why I 400 00:31:02,480 --> 00:31:06,359 warned them about creating the or you're trying to forcibly 401 00:31:07,240 --> 00:31:11,079 create the United States and it doesn't work that way. 402 00:31:12,400 --> 00:31:17,480 All right. There was no you know, central decree. You know, 403 00:31:17,839 --> 00:31:21,039 you must be English or whatever. I mean if I'm 404 00:31:21,039 --> 00:31:23,759 going to hire something the answer the phones, you know, 405 00:31:23,920 --> 00:31:26,319 they got to speak English. They can't say ka pasa, 406 00:31:26,960 --> 00:31:33,160 you know. Sure, And a lot of people have difficulty 407 00:31:33,279 --> 00:31:37,920 now with you know, tech support for somebody's companies because 408 00:31:37,960 --> 00:31:41,240 they come from India and they don't understand the accent. 409 00:31:42,240 --> 00:31:45,519 Speaker 2: I've had it. I've had that myself, so we won. 410 00:31:46,079 --> 00:31:48,039 Speaker 3: So excuse me what you're saying. 411 00:31:49,079 --> 00:31:53,880 Speaker 2: So Gold Silver, we're looking at new highs in March. 412 00:31:55,079 --> 00:31:57,920 Speaker 3: You could it depends how much of a pullback we get, 413 00:31:58,400 --> 00:32:01,480 but I would say if you get a low by March, 414 00:32:02,720 --> 00:32:05,960 the fact that that is the major target, you're going 415 00:32:06,000 --> 00:32:08,200 to see a rally from THEAR one out probably into 416 00:32:08,200 --> 00:32:08,839 twenty seven. 417 00:32:09,240 --> 00:32:14,559 Speaker 2: Wow, that's pretty amazing. All right. Well, I've already pressed 418 00:32:14,559 --> 00:32:17,880 you for too much information here, I'm already but look, 419 00:32:17,920 --> 00:32:20,640 I had to This is like We've been putting off 420 00:32:20,720 --> 00:32:23,200 our call for like weeks now, but it worked out 421 00:32:23,319 --> 00:32:27,359 perfectly because you just wrote the article yesterday for your 422 00:32:27,400 --> 00:32:31,000 blog which I saw, which said that Monday would be 423 00:32:31,039 --> 00:32:36,240 the turning point. You were one trading day late. But 424 00:32:36,960 --> 00:32:39,720 I didn't see that from anybody else, and even myself 425 00:32:40,799 --> 00:32:44,200 I didn't. I thought it was possible, but I didn't 426 00:32:45,039 --> 00:32:47,440 think it was really going to happen right at this moment. 427 00:32:47,559 --> 00:32:51,720 But there it was, right smack dab and now, so 428 00:32:51,839 --> 00:32:55,799 this is a fake breakdown then effectively right head fake, 429 00:32:57,400 --> 00:32:57,759 and the. 430 00:32:57,839 --> 00:33:01,279 Speaker 3: Rally was also kind of fake because most short covering. 431 00:33:01,839 --> 00:33:05,640 Speaker 2: And I think they pushed it. I pushed it higher 432 00:33:06,119 --> 00:33:09,680 just so they could break it down faster. Now, that's 433 00:33:09,759 --> 00:33:12,119 my perception of what happened here. 434 00:33:13,079 --> 00:33:20,920 Speaker 3: A lot of professionals have lost their shirts on this one. 435 00:33:22,559 --> 00:33:22,920 Not me. 436 00:33:23,720 --> 00:33:26,400 Speaker 2: I'm not a professional, though I don't profess to be one, 437 00:33:26,920 --> 00:33:29,319 but I'm still sitting pretty. 438 00:33:30,440 --> 00:33:32,880 Speaker 3: Well, I know. I think what happens is that they 439 00:33:32,920 --> 00:33:34,759 think they're in the middle of it and they know 440 00:33:34,880 --> 00:33:40,279 everything that's going on, and they don't, you know, because 441 00:33:40,359 --> 00:33:43,519 it's it's your own actions that make some of this stuff. 442 00:33:44,799 --> 00:33:49,920 I know one major player that lost a ton of 443 00:33:49,960 --> 00:33:55,039 money on sober shortening it too early. Wow, But you 444 00:33:55,079 --> 00:34:00,039 know this is what makes markets, you know. It's so 445 00:34:00,279 --> 00:34:06,000 we have to understand. This rally has been different than most. 446 00:34:07,319 --> 00:34:12,000 And that's why I would say that there aren't too 447 00:34:12,039 --> 00:34:14,840 many people around that. Actually, I mean I was there 448 00:34:14,840 --> 00:34:17,119 for nineteen eighty. I traded its whole damn thing. 449 00:34:17,760 --> 00:34:20,320 Speaker 2: I remember it. But I wasn't as little too young 450 00:34:20,360 --> 00:34:23,239 to be trading. I was only thirteen. But it really 451 00:34:23,320 --> 00:34:27,480 set me down the path of watching gold and really 452 00:34:27,559 --> 00:34:32,760 becoming an observer of the market. But in silver there 453 00:34:32,960 --> 00:34:38,199 is actually a physical shortage, isn't there undeniably? 454 00:34:39,079 --> 00:34:44,119 Speaker 3: Yeah, I mean you had trying to restrict the selling. 455 00:34:44,159 --> 00:34:48,440 As of January first, they were representing about sixty percent 456 00:34:48,480 --> 00:34:55,400 of the physical market. Now you have Trump ving to 457 00:34:55,440 --> 00:34:59,760 create a silver pool for strategic purposes of two point 458 00:34:59,760 --> 00:35:04,800 five billion. So I do you know, the commuter's just 459 00:35:04,840 --> 00:35:10,519 not showing, you know, a major bear market. And so yeah, 460 00:35:10,719 --> 00:35:15,559 we go back and slidate take off again. It's it's 461 00:35:15,639 --> 00:35:18,039 not over yet. And so as they say this fat 462 00:35:18,079 --> 00:35:18,800 lady saying. 463 00:35:18,800 --> 00:35:22,599 Speaker 2: Joh yeah, and the and the fat ladies on vacation. 464 00:35:23,719 --> 00:35:26,280 One thing I just want to mention about Vietnam. I 465 00:35:26,519 --> 00:35:32,199 visited Hoachi Minh's city recently, and when you talk about 466 00:35:32,320 --> 00:35:37,000 the war, there all of the armaments that we left, 467 00:35:37,760 --> 00:35:40,800 just like Afghanistan, and there's a museum there, the War 468 00:35:40,880 --> 00:35:45,880 Remnants Museum, and anybody goes there. I highly recommend it. 469 00:35:45,960 --> 00:35:49,280 But it's like seeing an American arsenal that we just 470 00:35:49,440 --> 00:35:55,840 left there, like phantom jets, F fives, tanks, huiye helicopters, 471 00:35:56,440 --> 00:35:59,800 and Chinook's and I mean it's just all there and 472 00:36:00,079 --> 00:36:03,880 their presentation. They have no ill will towards the United States. 473 00:36:04,320 --> 00:36:08,039 That's the amazing part. Party most of them want to 474 00:36:08,039 --> 00:36:08,920 come and live here. 475 00:36:09,880 --> 00:36:18,039 Speaker 3: Yeah, it's uh. Look, I visited Hiroshima and it was 476 00:36:18,199 --> 00:36:23,239 very interesting. I had people coming up apologizing to me 477 00:36:24,719 --> 00:36:27,760 that America had to, you know, drop bombs. 478 00:36:28,880 --> 00:36:31,320 Speaker 2: Uh figure, you know, I've. 479 00:36:31,119 --> 00:36:35,039 Speaker 3: Been in It was in Tokyo when the Golf War. 480 00:36:35,679 --> 00:36:40,639 Because of the constitution that Japan wasn't allowed to have 481 00:36:40,719 --> 00:36:45,000 troops more than two hundred miles offshore. Right, they were 482 00:36:45,039 --> 00:36:48,800 sending money, but so many other people didn't understand it, 483 00:36:49,159 --> 00:36:52,960 and they were criticizing the Japanese. Oh they'll send money, 484 00:36:52,960 --> 00:36:57,119 but they won't send their boys. You know. So the 485 00:36:57,239 --> 00:37:03,159 politicians were and getting together and making emotion to change 486 00:37:03,199 --> 00:37:08,079 the constitution so they could send troops offshore. And I 487 00:37:08,320 --> 00:37:11,480 was in Tokyo. I'm telling you there was at least 488 00:37:11,480 --> 00:37:15,679 a million people in protests, and I spoke to some 489 00:37:16,559 --> 00:37:21,159 and their view was if they changed the constitution, the 490 00:37:21,320 --> 00:37:26,400 military would seize power again, and they were afraid they 491 00:37:26,440 --> 00:37:27,800 would take them back to war. 492 00:37:28,159 --> 00:37:32,840 Speaker 2: Doesn't seem real, right, pre but smart to distrust the 493 00:37:33,199 --> 00:37:37,119 military industrial complex. And while we're at it, I just 494 00:37:37,159 --> 00:37:40,480 want to mention a new book coming out. It's called 495 00:37:40,880 --> 00:37:47,960 America's Great Parking Scam. You've been robbed and I can't 496 00:37:48,000 --> 00:37:49,760 get it to go clearly on the camera. 497 00:37:49,840 --> 00:37:50,559 Speaker 3: There we go. 498 00:37:50,920 --> 00:37:54,599 Speaker 2: I have to cover up my face. But it's how 499 00:37:54,639 --> 00:37:59,679 you recognize these extractive, exploitative systems and what you can 500 00:37:59,719 --> 00:38:04,000 do about it. Coming out soon. Marty appreciate you coming on. 501 00:38:04,159 --> 00:38:10,239 Of course, Armstrong Economics highly highly recommend that you subscribe 502 00:38:10,280 --> 00:38:14,239 to Socrates. I'm a subscriber. Sometimes I have to use 503 00:38:14,360 --> 00:38:17,880 AI to figure out exactly what Marty is saying, but 504 00:38:18,400 --> 00:38:23,760 it's almost always right. So obviously he's tapped into something 505 00:38:23,800 --> 00:38:26,960 that the rest of us have only dreamed of and 506 00:38:27,280 --> 00:38:31,920 if you got any questions or comments, Klatcarrie LUTs dot com, 507 00:38:32,159 --> 00:38:35,079 just drop me a line, all right, Marty, Thanks, oh 508 00:38:35,119 --> 00:38:35,480 thank you. 509 00:38:35,679 --> 00:38:36,599 Speaker 3: Take care of yourself. 510 00:38:37,039 --> 00:38:41,199 Speaker 1: Thanks for listening to Carrie Letz's Financial Survival Network, your 511 00:38:41,280 --> 00:38:45,119 solution to today's trying times. For the latest, go to 512 00:38:45,280 --> 00:38:49,760 Financial Survivalnetwork dot com. Financial Survival Network 513 00:38:50,000 --> 00:38:51,639 Speaker 2: Now more than ever,