1
00:00:00,160 --> 00:00:02,759
Speaker 1: So you know that was gold was maybe eleven hundred

2
00:00:02,759 --> 00:00:05,440
and fifty then, and it went down like fifty that

3
00:00:05,559 --> 00:00:07,960
next Sunday night and miss pretty ugly.

4
00:00:08,000 --> 00:00:09,240
Speaker 2: But we hung in there.

5
00:00:09,400 --> 00:00:13,279
Speaker 1: And the reason why why my faith never wavered was

6
00:00:13,320 --> 00:00:16,120
the math man. I mean, it is what it is,

7
00:00:16,480 --> 00:00:19,199
and we're now thirty seven and a half trillion dollars

8
00:00:19,199 --> 00:00:22,239
in debt. It's not getting any better. Carry This last

9
00:00:22,239 --> 00:00:25,199
burst in gold up through twenty five hundred and through

10
00:00:25,280 --> 00:00:28,559
twenty six hundred began about three three and a half

11
00:00:28,600 --> 00:00:32,439
weeks ago when the monthly budget deficit for the US

12
00:00:32,520 --> 00:00:35,600
government for August was released and it was per month

13
00:00:35,840 --> 00:00:39,039
three hundred and eighty billion dollars.

14
00:00:39,320 --> 00:00:43,600
Speaker 3: I remember you were listening to Carrie Letz's Financial Survival Network,

15
00:00:43,799 --> 00:00:47,159
where you get valuable information you just can't find anywhere

16
00:00:47,159 --> 00:00:51,000
else to thrive in today's trying times. You need the

17
00:00:51,000 --> 00:00:55,719
Financial Survival Network now more than ever. Go to Financial

18
00:00:55,759 --> 00:00:59,399
Survivalnetwork dot com and get your free newsletter and gift.

19
00:01:00,039 --> 00:01:04,040
Financial Survival Network now more than.

20
00:01:03,880 --> 00:01:10,120
Speaker 4: Ever, And welcome you are listening to and watching the

21
00:01:10,319 --> 00:01:11,799
Financial Survival Network.

22
00:01:11,840 --> 00:01:13,159
Speaker 2: I'm your host, Carrie Lutz.

23
00:01:13,599 --> 00:01:18,120
Speaker 4: Well, it is now October ninth, and price of gold

24
00:01:18,480 --> 00:01:21,079
looks like it's getting ready to spike again, but more

25
00:01:21,120 --> 00:01:23,799
importantly the price of silver. We were at thirty two

26
00:01:23,879 --> 00:01:28,200
almost thirty three dollars silver. Let's get the absolute insider

27
00:01:28,280 --> 00:01:32,159
take on this. Craig Heepke TF Metalsreport dot Com is

28
00:01:32,200 --> 00:01:34,560
with us now. If you've got a question comment for

29
00:01:34,680 --> 00:01:38,359
Craig myself, email kl at Carrie Lutz dot com.

30
00:01:38,480 --> 00:01:41,200
Speaker 2: Craig, So, where are we now?

31
00:01:41,799 --> 00:01:44,640
Speaker 1: Well, we're for now at least, we're just at another

32
00:01:45,120 --> 00:01:48,840
higher low part of the chart. You know, a bull market,

33
00:01:48,920 --> 00:01:53,879
particularly in the Comax golden silver futures, is almost always

34
00:01:53,920 --> 00:01:56,359
defined by higher lows and higher highs.

35
00:01:56,439 --> 00:01:58,439
Speaker 2: You know, where you're just kind of stare stepping up.

36
00:01:58,680 --> 00:02:01,439
Speaker 1: And that's kind of where we are now, and not

37
00:02:01,519 --> 00:02:05,120
only in gold or silver, but also the mining shares

38
00:02:05,159 --> 00:02:07,879
are doing the same thing. We'll see where we go

39
00:02:07,959 --> 00:02:11,639
from here. I'm optimistic that we can take another run

40
00:02:11,759 --> 00:02:12,919
up before the end of the year.

41
00:02:13,479 --> 00:02:15,599
Speaker 2: But at the same time, you know, if you'd ha.

42
00:02:15,639 --> 00:02:19,479
Speaker 1: Told me back in January, with all that we knew

43
00:02:19,520 --> 00:02:22,280
that was coming, you know, the I mean everybody was

44
00:02:22,319 --> 00:02:24,560
factoring in like six or seven raid cuts, you know,

45
00:02:24,879 --> 00:02:27,360
on New Year's even last year, and we knew that

46
00:02:27,479 --> 00:02:28,879
wasn't going to be the case, so we figured it

47
00:02:28,919 --> 00:02:31,400
was gonna be kind of a tough year at least

48
00:02:31,439 --> 00:02:31,800
to start.

49
00:02:31,919 --> 00:02:32,439
Speaker 2: It wasn't.

50
00:02:32,680 --> 00:02:35,599
Speaker 1: So if you'd told me back, you know, first January,

51
00:02:36,159 --> 00:02:39,360
that even if we ended up here near twenty six hundred,

52
00:02:39,400 --> 00:02:43,080
we'd have a thirty percent year, I just said, that's aokay.

53
00:02:43,199 --> 00:02:46,680
Speaker 2: And in terms of silver, I was I.

54
00:02:46,639 --> 00:02:49,400
Speaker 1: Was looking at a chart earlier this week that Ronnie

55
00:02:49,439 --> 00:02:55,520
Sterfelop put out that showed silver gains or losses every

56
00:02:55,599 --> 00:02:57,960
year since two thousand and nine, since you know, the

57
00:02:58,000 --> 00:03:01,919
Great Financial Crisis, when everything changed across all currencies, all

58
00:03:02,000 --> 00:03:06,120
nine major FIAD currencies. And one thing that stood out

59
00:03:06,159 --> 00:03:11,560
to me is the three prior periods where silver had

60
00:03:11,560 --> 00:03:15,120
a really big year. All three of those were followed

61
00:03:15,120 --> 00:03:19,719
by another big year still, the most recent being twenty

62
00:03:19,800 --> 00:03:20,919
nineteen and twenty twenty.

63
00:03:21,280 --> 00:03:23,759
Speaker 2: And so silver's up by the same percentage as gold.

64
00:03:24,240 --> 00:03:26,919
Speaker 1: Leaves me kind of optimistic that we'll be able to

65
00:03:26,919 --> 00:03:28,560
extend this into twenty twenty five.

66
00:03:29,000 --> 00:03:34,360
Speaker 2: I think, so, huh so hold the course, huh, Well,

67
00:03:34,639 --> 00:03:35,719
I mean that's been the case.

68
00:03:36,080 --> 00:03:38,439
Speaker 1: I mean, I have people on my site, I remember

69
00:03:38,520 --> 00:03:41,400
getting this three four years ago, but I still get

70
00:03:41,400 --> 00:03:43,759
this occasionally. People on my side they're like, thank you

71
00:03:43,960 --> 00:03:47,360
for getting me to stay with this, because man, it

72
00:03:47,400 --> 00:03:51,400
was a pretty lonely sojourn back in twenty thirteen and fourteen.

73
00:03:51,560 --> 00:03:56,319
I remember the summer of twenty fifteen. It was a Saturday.

74
00:03:56,360 --> 00:03:58,599
It was a weekend Wall Street Journal.

75
00:03:58,680 --> 00:04:01,080
Speaker 2: Did they even do that anymore? Carry? I don't even

76
00:04:01,120 --> 00:04:03,240
know Wall Street Journal.

77
00:04:03,960 --> 00:04:07,039
Speaker 4: The weekend edition that was like that was like a

78
00:04:07,080 --> 00:04:09,960
fun show for a while while alive.

79
00:04:09,960 --> 00:04:12,960
Speaker 2: They used to put out an actual hard copy. Yeah.

80
00:04:12,960 --> 00:04:15,639
Speaker 1: And I was staying at a hotel as at a

81
00:04:15,680 --> 00:04:17,480
wedding with my in laws and my father in law

82
00:04:17,519 --> 00:04:19,639
comes up and slaps it down on in front of

83
00:04:19,680 --> 00:04:21,480
me because there's an article there about.

84
00:04:21,439 --> 00:04:25,040
Speaker 2: Gold is just a pet rock, and.

85
00:04:27,279 --> 00:04:33,079
Speaker 4: That's what what's his name, Jason's wag Buffett said, we

86
00:04:33,160 --> 00:04:35,160
spend all this money digging out out of the ground,

87
00:04:35,480 --> 00:04:37,680
then we dig a new hole, bury it, and we

88
00:04:37,759 --> 00:04:39,839
spent all this money guarding it, right.

89
00:04:39,959 --> 00:04:41,720
Speaker 2: Right, Zach barbarous a relic?

90
00:04:42,480 --> 00:04:45,079
Speaker 1: So you know that was gold was maybe eleven hundred

91
00:04:45,120 --> 00:04:47,800
and fifty then, and it went down like fifty that

92
00:04:47,879 --> 00:04:51,079
next Sunday night and it's pretty ugly, but we hung

93
00:04:51,120 --> 00:04:54,600
in there. And the reason why why my faith never

94
00:04:54,680 --> 00:04:58,040
wavered was the man man. I mean, it is what

95
00:04:58,079 --> 00:05:00,560
it is, and we're now thirty seven and a half

96
00:05:00,639 --> 00:05:03,959
trillion dollars in debt. It's not getting any better. Carry

97
00:05:03,959 --> 00:05:07,199
This last burst in gold up through twenty five hundred

98
00:05:07,240 --> 00:05:10,639
and through twenty six hundred began about three three and

99
00:05:10,639 --> 00:05:14,240
a half weeks ago when the monthly budget deficit for

100
00:05:14,319 --> 00:05:17,079
the US government for August was released and it was

101
00:05:17,279 --> 00:05:22,199
per a month, three hundred eighty billion dollars. I remember,

102
00:05:22,639 --> 00:05:24,519
and that's when you know, I was almost like the

103
00:05:24,800 --> 00:05:29,000
thing I keep saying in interviews, it's like that grabbed

104
00:05:29,360 --> 00:05:33,800
hedge fund managers and you know these home office multi

105
00:05:33,920 --> 00:05:36,120
billion dollars and just kind of shook them by the

106
00:05:36,199 --> 00:05:37,279
lapel and said.

107
00:05:37,120 --> 00:05:41,000
Speaker 2: You see this three hundred and eighty billion in a month.

108
00:05:41,720 --> 00:05:43,839
You know, another charge for Ronnie.

109
00:05:43,839 --> 00:05:46,920
Speaker 1: That's a Bank of America research, the most recent one

110
00:05:46,920 --> 00:05:50,879
they did, seventy one percent of global financial advisors have

111
00:05:51,079 --> 00:05:54,439
less than one percent or zero percent of their client's

112
00:05:54,519 --> 00:05:57,199
assets allocated to the precious metals. In the ninety six

113
00:05:57,279 --> 00:06:00,639
seventy one percent another twenty four percent have less than

114
00:06:00,639 --> 00:06:04,279
five percent, So this, I mean, it won't take much.

115
00:06:04,360 --> 00:06:06,360
And that's why, again the math is a math. I

116
00:06:06,360 --> 00:06:11,000
feel the sector is grossly underinvested for the protection it provides.

117
00:06:11,040 --> 00:06:13,199
And that's why we just keep hanging in there. Hey,

118
00:06:13,319 --> 00:06:17,759
and the crypto it's kind of serving a similar function here,

119
00:06:19,079 --> 00:06:22,160
you know bitcoin while we're speaking. I hate to give

120
00:06:22,279 --> 00:06:25,439
bitcoin prices because it's so volatile.

121
00:06:25,480 --> 00:06:28,759
Speaker 4: They change so quickly. But right now, for this particular

122
00:06:29,120 --> 00:06:34,240
instant in time, it's sixty two thousand, one hundred eighty

123
00:06:34,279 --> 00:06:39,480
five bucks. You know, for something that really has no

124
00:06:40,120 --> 00:06:43,519
intrinsic value, it has a lot of value it does.

125
00:06:44,040 --> 00:06:45,800
Speaker 2: Up sit there doing the math. What is that?

126
00:06:45,920 --> 00:06:48,199
Speaker 1: My cost basis on the little bit of bitcoin I

127
00:06:48,199 --> 00:06:50,480
have is about six hundred and twenty bucks. So I'm

128
00:06:50,519 --> 00:06:52,480
trying to do the math on what is that ten

129
00:06:52,639 --> 00:06:53,720
one hundred thousand percent.

130
00:06:53,759 --> 00:06:54,759
Speaker 2: I don't know, whatever it is.

131
00:06:55,279 --> 00:06:58,040
Speaker 1: I and so, And I've never understood this thing about

132
00:06:58,360 --> 00:07:00,480
you can only own one versus Yeah, I mean, I've

133
00:07:00,480 --> 00:07:04,120
never never made any sense. Yeah, are they are alternatives

134
00:07:05,079 --> 00:07:08,959
to your fiat dollar? And why wouldn't you know? And

135
00:07:09,040 --> 00:07:11,839
you know, people, it's like the central banks that we've

136
00:07:11,839 --> 00:07:13,519
talked about before there's will be a third year in

137
00:07:13,560 --> 00:07:17,560
a row of record global central bank gold demand.

138
00:07:18,000 --> 00:07:18,680
Speaker 2: Well what are they doing.

139
00:07:18,680 --> 00:07:22,800
Speaker 1: They're taking their dollar reserves that they've accumulated and they're

140
00:07:22,839 --> 00:07:26,439
diversifying some into gold. Well that's all I've ever suggested

141
00:07:26,800 --> 00:07:29,480
for the individual person. Take some of your dollar reserves

142
00:07:29,480 --> 00:07:31,240
and diverse fying a gold That's I mean, this is

143
00:07:31,319 --> 00:07:32,959
not complicated.

144
00:07:33,680 --> 00:07:38,319
Speaker 4: If if people like automatically bought gold, it would force

145
00:07:38,959 --> 00:07:43,600
the world's central banks and the world's governments to stop.

146
00:07:43,240 --> 00:07:45,480
Speaker 2: What they are doing. Yeah. Think about that.

147
00:07:45,560 --> 00:07:49,199
Speaker 4: If every person out there had a gold and silver

148
00:07:49,279 --> 00:07:53,600
account and they added to it monthly because they wouldn't

149
00:07:53,600 --> 00:07:56,600
be able to control the prices then, right, because you'd

150
00:07:56,600 --> 00:08:03,079
have worldwide demand swamping the algorithms basically right. Yeah, So

151
00:08:03,839 --> 00:08:08,920
it would legitimately price these metals at their true worth

152
00:08:09,240 --> 00:08:13,639
in currencies, and then you know, the canary and the

153
00:08:13,639 --> 00:08:16,240
gold mind, the cat would be out of the bag.

154
00:08:16,639 --> 00:08:19,279
They wouldn't be able to hide it, right yeah.

155
00:08:19,720 --> 00:08:19,920
Speaker 2: Right.

156
00:08:20,680 --> 00:08:22,959
Speaker 1: You know you think about who hates gold the most, right,

157
00:08:23,759 --> 00:08:28,639
the bankers and the politicians and why And I should't

158
00:08:28,639 --> 00:08:33,039
you say bankers, bankers, politicians and anybody in financial that

159
00:08:33,279 --> 00:08:37,440
benefits from the unlimited creation of the dollars and the

160
00:08:37,639 --> 00:08:41,240
debt from which the dollars come. And if that's the

161
00:08:41,320 --> 00:08:45,320
system that your company, that your net worth whatever relies upon,

162
00:08:46,240 --> 00:08:48,639
you're going to bash all the alternatives all day long.

163
00:08:48,679 --> 00:08:50,000
Speaker 2: And that's what they do. You'll never hear.

164
00:08:49,879 --> 00:08:52,240
Speaker 1: Anybody talk about this kind of stuff on CNBC because

165
00:08:52,240 --> 00:08:56,120
their beak is dipped by the financial services, mutual funds

166
00:08:56,120 --> 00:08:56,879
and everybody else.

167
00:08:56,960 --> 00:09:02,240
Speaker 4: Right them and get pharma. I mean, but stop taking

168
00:09:02,360 --> 00:09:06,000
drugs and buy gold, right, you know, that would nail

169
00:09:06,120 --> 00:09:11,279
to the system. Stop taking drugs by precious metals.

170
00:09:11,559 --> 00:09:13,840
Speaker 1: It's really and really that's a good, good analogy. It

171
00:09:14,000 --> 00:09:16,720
really about the same thing here. Here's what I gave

172
00:09:16,720 --> 00:09:20,360
you something though that I think is a really good

173
00:09:21,000 --> 00:09:25,000
present day example for people to understand. Even within this

174
00:09:25,159 --> 00:09:31,000
pricing scheme that relies upon on all these alchemic alternatives,

175
00:09:31,519 --> 00:09:35,679
you know, futures contracts and unallocated accounts and ETFs and

176
00:09:35,759 --> 00:09:39,399
all this stuff that's gives you exposure to the price,

177
00:09:39,440 --> 00:09:41,639
but not the real thing. Even within that pricing scheme,

178
00:09:42,279 --> 00:09:45,200
we can look at because and this is just something

179
00:09:45,240 --> 00:09:47,879
that I think people can really grasp. You know, the

180
00:09:48,000 --> 00:09:50,120
you know, the four ordered ounce bars a goal the

181
00:09:50,159 --> 00:09:53,480
London bars, Right, everybody's seen those things. They see someone

182
00:09:53,559 --> 00:09:55,799
holding one and it's like, oh wow, the racks of them,

183
00:09:55,919 --> 00:09:59,039
you know in the vaults. Four hundred ounces is a

184
00:09:59,080 --> 00:10:04,440
London good delivery standard. When Nixon closed the gold window

185
00:10:05,720 --> 00:10:10,639
back you know whatever, now fifty three years ago, right.

186
00:10:10,639 --> 00:10:13,480
Speaker 2: Yeah, it's hard to believe one of those.

187
00:10:13,320 --> 00:10:19,799
Speaker 1: Bars was exchangeable or cost fourteen thousand dollars. Okay, twenty

188
00:10:19,840 --> 00:10:23,279
five years later in the late nineties, one of those

189
00:10:23,320 --> 00:10:27,120
bars cost one hundred and ten thousand dollars well as

190
00:10:27,159 --> 00:10:29,960
the spot price of gold moved up through twenty five

191
00:10:30,080 --> 00:10:33,879
hundred dollars about six weeks ago. With five hundred times

192
00:10:33,879 --> 00:10:39,519
four hundred, one of those bars is suddenly a million dollars.

193
00:10:39,960 --> 00:10:44,840
What better illustration because the gold is just sat there, right,

194
00:10:45,840 --> 00:10:47,360
That bar from nineteen.

195
00:10:47,080 --> 00:10:48,559
Speaker 2: Seventy one is still that bar.

196
00:10:48,799 --> 00:10:51,240
Speaker 1: You can't make you know, the argument your house or

197
00:10:51,840 --> 00:10:56,279
you know, the the adjustments, what are the well, the

198
00:10:56,600 --> 00:11:01,000
oh mis, my senior moment, the CPI, the terms they use,

199
00:11:01,080 --> 00:11:04,000
you know to say that the not holistic adjustments. What's

200
00:11:04,000 --> 00:11:07,559
the word that they eat eeronic, donic, medonic adjustments. There's

201
00:11:07,559 --> 00:11:11,480
no hedonic adjustment to a bar gold. Right, here's your bar,

202
00:11:12,240 --> 00:11:14,960
same bar from nineteen seventy one, but the price is

203
00:11:15,000 --> 00:11:17,519
a million dollars rather than fourteen thousand.

204
00:11:17,600 --> 00:11:17,799
Speaker 2: Is that?

205
00:11:18,480 --> 00:11:23,320
Speaker 1: What better example or illustration is there of the destructive

206
00:11:23,519 --> 00:11:26,799
power of the FEMA fiat evaluation in that?

207
00:11:26,840 --> 00:11:30,240
Speaker 4: And that's why you owned al Hey. You know, Ludwig

208
00:11:30,279 --> 00:11:34,639
bad Masis said only government can take a valuable commodity

209
00:11:34,799 --> 00:11:38,039
like paper and make it worthless by putting ink on it.

210
00:11:40,120 --> 00:11:41,320
Speaker 2: I love it. I love it.

211
00:11:41,759 --> 00:11:45,440
Speaker 4: You know, it's kind of wild, and you might have

212
00:11:45,519 --> 00:11:48,919
to dust off that bar because you haven't done anything

213
00:11:48,919 --> 00:11:53,240
with it. It's just been sitting there collecting dust. Craig,

214
00:11:53,279 --> 00:11:55,080
I don't know if you ever went to the Federal

215
00:11:55,120 --> 00:11:58,879
Reserve's gold vault, but to have a tour there.

216
00:11:58,960 --> 00:12:01,480
Speaker 2: I did it like fifteen years ago.

217
00:12:01,559 --> 00:12:06,480
Speaker 4: I wrote about it on the site on Financial Survival Network.

218
00:12:06,840 --> 00:12:09,039
Speaker 2: But you know there was all this gold. Well.

219
00:12:09,039 --> 00:12:11,960
Speaker 4: One thing that impressed me was that in order to

220
00:12:12,000 --> 00:12:16,200
handle the gold, you had to put these magnesium tips

221
00:12:16,600 --> 00:12:20,039
on your shoes because it covered it because if you

222
00:12:20,120 --> 00:12:25,080
drop the bar, it would crush your foot. They had

223
00:12:25,120 --> 00:12:29,600
to wear these special things. But you know, it's just

224
00:12:30,799 --> 00:12:34,120
it's kind of shocking, but it isn't because look, the

225
00:12:35,720 --> 00:12:40,759
man's nature is always to try to get something for nothing, right.

226
00:12:41,200 --> 00:12:45,200
You know, some people call it investing in the stock market,

227
00:12:45,279 --> 00:12:49,320
but they want to like create all this money, give

228
00:12:49,360 --> 00:12:52,440
it to people, Give everybody what they want, whatever it is,

229
00:12:52,519 --> 00:12:55,399
no matter how stupid it is. If it's a degree

230
00:12:55,840 --> 00:13:00,799
in puppetry, an advanced degree in puppetry, or you know,

231
00:13:01,919 --> 00:13:06,759
medieval French lesbian studies, whatever it is, they want to

232
00:13:06,799 --> 00:13:10,960
give it to everyone. And when money was real, they couldn't.

233
00:13:11,399 --> 00:13:14,919
But now that money doesn't really exist, only in your mind,

234
00:13:15,480 --> 00:13:18,440
only in the bank of a computer on the disc.

235
00:13:19,200 --> 00:13:23,159
Now they can do this, Craig, You know, it's it's alchemy,

236
00:13:23,240 --> 00:13:28,600
like you said, financial engineering at a level that nobody

237
00:13:28,639 --> 00:13:31,360
in their right mind would have ever believed.

238
00:13:31,919 --> 00:13:34,559
Speaker 1: Yeah, you know, and I mentioned that math, you know,

239
00:13:34,720 --> 00:13:38,200
the certainty of the math, the compounding of the math, right,

240
00:13:39,000 --> 00:13:41,679
the compounding. You know. You see when we went twenty

241
00:13:41,720 --> 00:13:47,120
five years, even under this pricing scheme, from basically ten

242
00:13:47,240 --> 00:13:49,440
thousand to one hundred thousand, other twenty five years from

243
00:13:49,519 --> 00:13:52,039
hundred thousand to a million, another twenty five years, what

244
00:13:52,120 --> 00:13:53,120
are we talking ten million?

245
00:13:53,600 --> 00:13:53,840
Speaker 4: Right?

246
00:13:54,639 --> 00:13:58,080
Speaker 1: Okay, twenty five thousand dollars goal. And again what that means,

247
00:13:58,080 --> 00:13:58,480
I don't.

248
00:13:58,360 --> 00:14:00,039
Speaker 2: Know if the system's going to continue for a t

249
00:14:00,559 --> 00:14:02,360
another twenty five years. I don't know nob it'll make

250
00:14:02,399 --> 00:14:03,759
another twenty five I have no idea.

251
00:14:04,639 --> 00:14:08,080
Speaker 1: While we're in this kind of crack up boom phase

252
00:14:08,480 --> 00:14:11,840
that you're describing, there are going to be all kinds

253
00:14:11,879 --> 00:14:18,000
of get based financial assets that go great. You know,

254
00:14:18,000 --> 00:14:23,559
I make all kinds that their gains exceed the rate

255
00:14:23,600 --> 00:14:27,399
of inflation the rate of devaluation. Right, So nobody should

256
00:14:27,440 --> 00:14:30,720
ever like cash out everything and put it into gold

257
00:14:30,840 --> 00:14:34,039
or silver or something like that, because you can't know

258
00:14:35,360 --> 00:14:38,159
when the thing you know finally implodes under its own

259
00:14:38,159 --> 00:14:41,039
weight and their opportunity costs along the way of waiting.

260
00:14:41,519 --> 00:14:44,879
But what you definitely have to do is invest yourself

261
00:14:44,919 --> 00:14:47,960
in a way that your gains keep up with inflation

262
00:14:48,639 --> 00:14:51,879
and gold just in that you know, segment of your portfolio,

263
00:14:51,919 --> 00:14:53,919
that part of your asset allocation certainly has proven that

264
00:14:53,919 --> 00:14:54,399
over time.

265
00:14:55,200 --> 00:14:58,720
Speaker 4: Oh, there's no question. And it's not like we're the

266
00:14:58,759 --> 00:15:02,279
stop clock brigade here, you know, it's not like we're one.

267
00:15:02,480 --> 00:15:07,440
We're right, every once every ten years, This ongoing process.

268
00:15:07,759 --> 00:15:11,120
Like you said, it's been going on since nineteen thirteen,

269
00:15:11,919 --> 00:15:15,120
but really picked up steam in seventy one when the

270
00:15:15,159 --> 00:15:19,200
gold window was closed, when the dollar broke its final

271
00:15:19,720 --> 00:15:25,440
connection to gold. And it's pure math, It's really that simple.

272
00:15:25,480 --> 00:15:28,240
And they can they can slow it down, maybe they

273
00:15:28,240 --> 00:15:32,480
can hide it. Maybe. You know, we have these busts,

274
00:15:32,559 --> 00:15:35,600
these financial crashes, which we're probably due for one now

275
00:15:35,879 --> 00:15:40,159
because every seventeen years in real estate you get a crash. Right,

276
00:15:41,799 --> 00:15:46,279
we're probably due for one now, and certainly the stock

277
00:15:46,360 --> 00:15:51,120
market we're probably due and then we begin to process

278
00:15:51,159 --> 00:15:55,120
a new right that is I mean I believe all that.

279
00:15:55,480 --> 00:15:58,559
Speaker 1: Yeah, the cycles that are definitely in play. The only

280
00:15:59,279 --> 00:16:01,159
thing you wonder about is how long you know, the

281
00:16:01,200 --> 00:16:03,320
plates can keep spinning and they can keep the balls

282
00:16:03,320 --> 00:16:07,399
in the air. You know, when you have everything run

283
00:16:07,440 --> 00:16:09,919
by computer, right, I mean you look at it like,

284
00:16:09,960 --> 00:16:12,960
for example, look at the VIX index.

285
00:16:13,159 --> 00:16:14,360
Speaker 2: And how many.

286
00:16:17,039 --> 00:16:21,480
Speaker 1: Got buy programs automated HFT the algorithmic programs are based

287
00:16:21,519 --> 00:16:23,279
off of that. If the VIX is going down, then

288
00:16:23,360 --> 00:16:26,279
risk is coming out, so we should be in risk assets. Well,

289
00:16:26,279 --> 00:16:29,919
then if you can just simply control the VIX, then

290
00:16:29,960 --> 00:16:31,559
you can get the computers to do what you want

291
00:16:31,600 --> 00:16:31,960
them to do.

292
00:16:32,519 --> 00:16:37,279
Speaker 2: Yeah, no that I mean not that so like to think.

293
00:16:37,480 --> 00:16:39,960
Speaker 1: I mean, look, I'm the guy I probably called ten

294
00:16:40,039 --> 00:16:44,159
of the last one stock market crashes, and so I'm

295
00:16:44,200 --> 00:16:46,600
not I just don't. I just prefer not to fiddle

296
00:16:46,639 --> 00:16:51,320
around with it, you know, and you know carry everybody

297
00:16:51,320 --> 00:16:53,639
that I should. How do I want to phrase this?

298
00:16:54,000 --> 00:16:57,759
There are so many interests aligned in keeping that afloat.

299
00:16:57,840 --> 00:17:01,159
I mentioned CNBC and like you know and how they're

300
00:17:01,200 --> 00:17:03,840
always on the lock. Now, maybe it's good for ratings

301
00:17:03,879 --> 00:17:06,559
every once in a while, Mark it crashed join us

302
00:17:06,599 --> 00:17:09,079
tonight at seven o'clock, you know that kind of thing.

303
00:17:10,160 --> 00:17:14,640
But everybody's got their their beacon, the trough, and they

304
00:17:14,680 --> 00:17:17,160
have an interest in keeping it going. You know, all

305
00:17:17,160 --> 00:17:20,400
the way down to the economic data that we get,

306
00:17:20,960 --> 00:17:25,920
you know, it's it's all designed and put out to

307
00:17:26,160 --> 00:17:30,319
influence the EY. It's like all of those job report

308
00:17:30,400 --> 00:17:35,599
Fridays that were oh magically beat expectations, Wow, through all

309
00:17:35,599 --> 00:17:37,279
these different seasonal adjustments and the.

310
00:17:37,359 --> 00:17:41,240
Speaker 4: Like, excert surprised, right, And they come back and then

311
00:17:41,279 --> 00:17:43,400
they come back last month and they say, you know what,

312
00:17:43,480 --> 00:17:46,319
we we overstated things by eight hundred and fifteen thousand.

313
00:17:47,200 --> 00:17:50,079
Speaker 2: Well do they then, you know, do they then.

314
00:17:50,000 --> 00:17:52,160
Speaker 1: Have they then overstated what the stock market did on

315
00:17:52,200 --> 00:17:55,039
those twelve fridays or that do we get to reprice

316
00:17:55,160 --> 00:17:57,119
gold for all the beatings that it took on those

317
00:17:57,119 --> 00:17:58,359
fridays on the fake news?

318
00:17:58,559 --> 00:18:02,559
Speaker 2: No, so everything. There's so many.

319
00:18:02,319 --> 00:18:06,960
Speaker 1: Forces aligned to keep the plates spinning that you don't

320
00:18:06,960 --> 00:18:08,799
really want to get in the way of that freight train,

321
00:18:09,319 --> 00:18:12,039
and you don't want to completely avoid, you know, certain

322
00:18:12,119 --> 00:18:14,359
sectors because you're just waiting. You know, you don't know,

323
00:18:14,519 --> 00:18:16,279
you don't know when the end is coming. All you

324
00:18:16,319 --> 00:18:19,000
can do is prepare for and that's you know where gold,

325
00:18:19,640 --> 00:18:21,680
silver too, have a part in your portfolio.

326
00:18:22,319 --> 00:18:25,640
Speaker 4: Hey, I'm looking at I like to follow the housing

327
00:18:25,680 --> 00:18:30,200
stocks because to me, yeah, they know what interest rates

328
00:18:30,200 --> 00:18:32,720
are going to do before the Fed nose. You know,

329
00:18:33,279 --> 00:18:35,880
you just look at them and guess what. I looked

330
00:18:35,920 --> 00:18:39,200
at five or six of them. They're all trading at

331
00:18:39,279 --> 00:18:44,640
or near they're all time highs. That are tall brothers kV. Holmes.

332
00:18:46,240 --> 00:18:50,759
You know, the whole group is trading at these all

333
00:18:50,839 --> 00:18:54,559
time highs, and that could only mean that interest rates

334
00:18:54,559 --> 00:18:59,480
are going down. And what happens when the next fifty

335
00:18:59,519 --> 00:19:04,240
basis plate. Yeah, rate cut the next fifty basis go

336
00:19:05,119 --> 00:19:08,759
and then you know the market will go crazy, right or.

337
00:19:08,759 --> 00:19:09,440
Speaker 2: Maybe it won't.

338
00:19:09,599 --> 00:19:12,079
Speaker 4: Maybe we'll get to the point where it doesn't care anymore,

339
00:19:12,319 --> 00:19:17,759
where it sees the underlying collapse that we're approaching. I mean,

340
00:19:17,759 --> 00:19:21,079
at some point the plates, you know, I would say

341
00:19:21,119 --> 00:19:24,359
in seven and eight, the plates were all spinning, but

342
00:19:24,480 --> 00:19:27,559
the guys spinning them had to sneeze and a couple

343
00:19:27,599 --> 00:19:31,240
of hit the grounds. You know what happens when that

344
00:19:31,279 --> 00:19:34,200
guy has a heart attack this time and all of

345
00:19:34,240 --> 00:19:35,839
the plates come crashing down.

346
00:19:36,039 --> 00:19:40,599
Speaker 1: Yeah, yeah, that moment will certainly come. And then where

347
00:19:40,640 --> 00:19:42,319
do we go from there? I mean, look at China.

348
00:19:42,480 --> 00:19:45,799
You know, China rolled out their monetary bazooka two weeks

349
00:19:45,839 --> 00:19:48,039
ago and everything shot up, some of the biggest days

350
00:19:48,039 --> 00:19:51,160
in Chinese stock market ever. And then they closed for

351
00:19:51,200 --> 00:19:54,359
a week for their you know, their glorious anniversary of

352
00:19:54,400 --> 00:19:56,279
the founding and the you know, the.

353
00:19:56,240 --> 00:20:00,200
Speaker 2: Communists worthy of celebration looking on the hill.

354
00:20:00,559 --> 00:20:03,920
Speaker 1: And when they reopened, boom, it goes right back down

355
00:20:03,960 --> 00:20:06,599
ten percent. And now they're talking about what are they

356
00:20:06,599 --> 00:20:08,519
going to do this next week? They're apparently there's some

357
00:20:08,559 --> 00:20:10,359
big meeting announcement coming on Saturday.

358
00:20:10,400 --> 00:20:13,000
Speaker 2: What are they going to do? Even more so, you

359
00:20:13,039 --> 00:20:16,000
getting to that point where the men's scheme moment, right,

360
00:20:16,079 --> 00:20:17,200
isn't that the men's scheme mode?

361
00:20:17,319 --> 00:20:17,480
Speaker 1: Right?

362
00:20:17,559 --> 00:20:17,920
Speaker 2: Yeah?

363
00:20:17,960 --> 00:20:19,640
Speaker 1: And you're kind of just pushing on a string at

364
00:20:19,680 --> 00:20:22,000
some point, you know, you just you can't keep up,

365
00:20:22,880 --> 00:20:24,480
and that'll come.

366
00:20:24,680 --> 00:20:26,720
Speaker 2: It'll come here as well. It's just good.

367
00:20:26,759 --> 00:20:29,000
Speaker 1: You know, it doesn't matter who wins the election, they're

368
00:20:29,039 --> 00:20:33,119
going to be for tough sledding next year, you know that.

369
00:20:33,839 --> 00:20:36,039
Speaker 2: You think about here, even in what was.

370
00:20:36,039 --> 00:20:40,319
Speaker 1: Allegedly this strong economy, the US fiscal year just ended

371
00:20:40,359 --> 00:20:43,880
on September thirtieth was pretty close to a two trillion

372
00:20:43,920 --> 00:20:48,720
dollars annual deficit. What's going to happen in the next

373
00:20:48,720 --> 00:20:53,680
fiscal year in a contracting economy where government revenues and

374
00:20:54,000 --> 00:20:56,680
tax receipts and anything else fall by a trillion dollars

375
00:20:57,400 --> 00:20:59,680
and government spending picks up with stimulus and we're starting

376
00:20:59,720 --> 00:21:01,119
sudden are running three.

377
00:21:02,000 --> 00:21:04,319
Speaker 2: Four or five? Yeah, exactly.

378
00:21:04,880 --> 00:21:08,559
Speaker 4: Well, I did a useless exercise just for the fun

379
00:21:08,640 --> 00:21:09,640
of it, because I had.

380
00:21:09,519 --> 00:21:10,359
Speaker 2: Some time to kill.

381
00:21:10,720 --> 00:21:14,920
Speaker 4: I had chat GPT balance the budget without attacks increase,

382
00:21:15,839 --> 00:21:19,319
and I said, give me a list of one hundred

383
00:21:19,440 --> 00:21:23,279
agencies we could just shudder and never even know they

384
00:21:23,279 --> 00:21:26,880
were closed. And some of these agencies, Craig, you never

385
00:21:26,920 --> 00:21:30,240
even heard of them. It were so obscure, like the

386
00:21:30,960 --> 00:21:32,759
I can't even remember them now this is a few

387
00:21:32,799 --> 00:21:36,200
months ago. But hey, if Elon Musk gets in there

388
00:21:36,240 --> 00:21:39,640
and he actually can do anything, Elon Musk will be

389
00:21:39,680 --> 00:21:41,440
the equivalent of the Grace Commission.

390
00:21:41,720 --> 00:21:43,079
Speaker 2: Remember the Grace Peter R.

391
00:21:43,200 --> 00:21:47,960
Speaker 4: Grace from the Grace Chemical Company, which was long since acquired,

392
00:21:48,519 --> 00:21:52,240
and in the nineties they had the Grace Commission and

393
00:21:52,240 --> 00:21:54,200
he showed them how to balance the budget.

394
00:21:54,640 --> 00:21:57,759
Speaker 2: But you know, you know how far that way.

395
00:21:57,880 --> 00:22:01,680
Speaker 4: It's like, yeah, like get real, or who's paying our salary?

396
00:22:01,720 --> 00:22:07,160
It's not you, Grace, it's these interests, big pharma, big chemical,

397
00:22:07,279 --> 00:22:12,480
big oil, big Agra, you know, all these things. Hey,

398
00:22:12,599 --> 00:22:14,519
I want to touch on one thing though, that I

399
00:22:14,640 --> 00:22:18,920
knew you were concerned about, and that made me think

400
00:22:18,960 --> 00:22:22,640
twice that maybe this election might have a little more significance.

401
00:22:22,799 --> 00:22:26,680
I'm not talking about the economy. I'm not talking about

402
00:22:26,839 --> 00:22:32,759
the dollar, interest rates, whatever. Rfk Junior deplorable character person

403
00:22:32,839 --> 00:22:37,359
I know, I know him personally, despise him, but he

404
00:22:37,440 --> 00:22:42,480
did one thing, which was make America healthy again, that

405
00:22:42,559 --> 00:22:46,359
we are the most unhealthy nation the world has ever known,

406
00:22:46,960 --> 00:22:51,279
and that this is a national crisis. So for that alone,

407
00:22:51,920 --> 00:22:54,920
I can forgive him all his sins, and they are manifold,

408
00:22:56,599 --> 00:22:59,359
you know, because the health, all the gold, all the

409
00:22:59,359 --> 00:23:01,079
money in the world than going to do anything for

410
00:23:01,119 --> 00:23:02,799
you if your health is down the tubes.

411
00:23:02,880 --> 00:23:06,359
Speaker 1: Right, Yeah, you know, curious, this won't surprise you. But

412
00:23:06,400 --> 00:23:08,240
I'll turn this back to Golden the Fed as well.

413
00:23:08,839 --> 00:23:11,079
You know, anybody could pull up all the charts to

414
00:23:11,119 --> 00:23:15,279
show income inequality and wealth inequality all begin diverge back

415
00:23:15,279 --> 00:23:18,160
in nineteen seventy one, and what happened in seventy one Again,

416
00:23:18,200 --> 00:23:22,200
they're wealthy of gotten wealthier. You know the old line

417
00:23:22,240 --> 00:23:25,200
from You Too Got Part two nineteen eighty eight. The

418
00:23:25,359 --> 00:23:28,880
rich stay healthy and the six stay poor, right, And

419
00:23:29,240 --> 00:23:32,359
it's just the gap just keeps widening. And so it

420
00:23:32,480 --> 00:23:35,799
is the lower income people that don't have any money

421
00:23:36,160 --> 00:23:38,319
that have lost their good jobs. So they're working three

422
00:23:38,400 --> 00:23:40,920
part time jobs. You can see that in the jobs report.

423
00:23:41,480 --> 00:23:43,839
They're doing everything they can to make ends meet, and

424
00:23:43,880 --> 00:23:47,440
they're shopping and eating the crap that's sold by Dollar General,

425
00:23:47,839 --> 00:23:50,359
you know, and in the grocery store the most everything

426
00:23:50,359 --> 00:23:53,240
that's got all the seed oils and the preservatives and

427
00:23:53,359 --> 00:23:56,599
all that stuff. Because they can't afford to eat any better,

428
00:23:57,000 --> 00:23:58,400
or they live in the city and they don't have

429
00:23:58,440 --> 00:24:00,680
any alternatives to eat any better, and so they just

430
00:24:00,680 --> 00:24:04,039
get fatter and sicker and more drug depend carry.

431
00:24:04,039 --> 00:24:05,640
Speaker 2: I'll give you one more thing. Everybody they talk about,

432
00:24:05,680 --> 00:24:07,000
Oh it's just so great.

433
00:24:07,359 --> 00:24:10,880
Speaker 1: Look how great the economy is yesterday, Like this haircut.

434
00:24:12,400 --> 00:24:14,680
Speaker 2: Yeah, I just got it. I just got a haircut yesterday.

435
00:24:15,079 --> 00:24:18,039
Speaker 1: I've driving through a kind of a neighborhood to get

436
00:24:18,079 --> 00:24:20,720
to where the place is where the guy cuts my hair,

437
00:24:20,920 --> 00:24:23,480
and all of a sudden, there's fr after.

438
00:24:23,279 --> 00:24:25,920
Speaker 2: Car bumper to bumper parked along the side of the road.

439
00:24:26,160 --> 00:24:27,359
I'm like, it isn't weird.

440
00:24:27,720 --> 00:24:29,640
Speaker 1: And I'm like and then I see a church coming

441
00:24:29,720 --> 00:24:32,400
up about a block away, and I'm like, she's who died.

442
00:24:32,519 --> 00:24:35,559
Must be some you know, big shot funeral here. Now

443
00:24:36,119 --> 00:24:39,079
I get to the church food pantry this way, Oh

444
00:24:39,119 --> 00:24:43,799
my god, there must have been in this serpentine thing

445
00:24:43,920 --> 00:24:47,359
a hundred cars wrapping around the neighborhood going up one

446
00:24:47,400 --> 00:24:50,000
block over one and back up all to just get

447
00:24:50,039 --> 00:24:52,480
and so I'm like, holy crap. So I can come

448
00:24:52,559 --> 00:24:56,440
back to my house the same way and there's still

449
00:24:56,559 --> 00:24:58,960
a hundred car that maybe down a few seventy five.

450
00:24:59,720 --> 00:25:00,240
Speaker 2: Wow.

451
00:25:00,000 --> 00:25:04,599
Speaker 1: Wow, well of sanely single women, you know, moms that

452
00:25:04,720 --> 00:25:06,759
you know, just trying to feed their family, that kind

453
00:25:06,759 --> 00:25:10,160
of stuff. All just wait, just begging for you know what,

454
00:25:10,279 --> 00:25:15,160
twenty dollars worth of groceries. Yeah, gomment, robust, everything's great,

455
00:25:15,359 --> 00:25:15,799
give me.

456
00:25:16,240 --> 00:25:20,160
Speaker 4: Break, just lies. I mean, when you see that, it

457
00:25:20,279 --> 00:25:25,480
really brings it home. And like you said, people running

458
00:25:25,640 --> 00:25:29,839
three jobs, you know, to try to make ends meet.

459
00:25:29,960 --> 00:25:35,359
And oh but the employment numbers are great. Crowd stock

460
00:25:35,440 --> 00:25:37,119
market went up one percent today.

461
00:25:37,960 --> 00:25:39,519
Speaker 2: Just makes me sick. Yeah.

462
00:25:39,599 --> 00:25:43,039
Speaker 4: Well, hey, we'll leave it on that note. But you know,

463
00:25:43,440 --> 00:25:46,559
make sure you go over to craig cite TF Metals

464
00:25:46,640 --> 00:25:51,480
Report dot com and get to subscribe to it, because

465
00:25:51,680 --> 00:25:54,880
I think with inflation, I don't think of inflation adjusted

466
00:25:54,920 --> 00:26:00,119
your subscription prices at Starbus it's been four years. Our

467
00:26:00,160 --> 00:26:04,400
Bucks just raised the price of my damn latte from

468
00:26:04,440 --> 00:26:08,519
five sixty two to six thirty seven.

469
00:26:09,079 --> 00:26:11,759
Speaker 2: Here you go, well, about about two of those lattes

470
00:26:11,799 --> 00:26:14,119
with tax will get you a month at tfm R.

471
00:26:14,200 --> 00:26:14,640
How's that?

472
00:26:15,240 --> 00:26:15,440
Speaker 1: Man?

473
00:26:15,559 --> 00:26:18,039
Speaker 4: So so at least there is a place on this

474
00:26:18,200 --> 00:26:22,680
planet where inflation is not driving up the cost. So

475
00:26:23,079 --> 00:26:26,880
TF Metalsreport dot com And I love the site, love

476
00:26:26,920 --> 00:26:30,279
your commentary, your podcast. We've known each other over ten

477
00:26:30,359 --> 00:26:34,519
years now. And where the profits you know with an

478
00:26:34,680 --> 00:26:36,920
F and with a pH right.

479
00:26:38,559 --> 00:26:44,359
Speaker 2: More pH than than appy? All right? You know where

480
00:26:44,359 --> 00:26:47,559
I get the fs A F you MP, I get that,

481
00:26:47,920 --> 00:26:51,079
but anyway you get it, I love it.

482
00:26:51,119 --> 00:26:54,000
Speaker 4: Matt Hey, So go over to go over to correct site,

483
00:26:54,039 --> 00:26:56,640
make sure you subscribe, tell them we sent you, and

484
00:26:56,720 --> 00:26:59,720
if you got any questions comments kl at Carrie Let's

485
00:26:59,759 --> 00:27:02,640
dot you'll have a link to craig site in the

486
00:27:02,680 --> 00:27:06,640
show notes this interview on Financial Survival Network dot com.

487
00:27:06,720 --> 00:27:10,240
Speaker 2: Sign up for your free newsletter. Craig. We'll talk to

488
00:27:10,279 --> 00:27:11,079
you again real soon.

489
00:27:11,160 --> 00:27:11,319
Speaker 1: Man.

490
00:27:11,599 --> 00:27:14,359
Speaker 3: Be well, all the best, my friend, Thanks for listening

491
00:27:14,400 --> 00:27:19,079
to Carrie Lenz's Financial Survival Network, your solution to today's

492
00:27:19,200 --> 00:27:24,079
trying times. For the latest, go to Financial Survivalnetwork dot com.

493
00:27:24,079 --> 00:27:26,079
Financial Survival Network

494
00:27:26,400 --> 00:27:27,920
Speaker 2: Now more than ever

