Speaker 1: There's not enough silver and people that are waiting around
for this gentleman's entry to get into silver stocks, because
you know, if you look at silverstocks right, you see
look at the look at the silver price. Wow, it's quadrupled,
you know in the past year. But silver stocks they've
only they've only more a little bit more than tripled.
You know, they're supposed to provide more leverage to the
silver price that gold stocks are doing their job. You know,
they provided two and a half times leverage last year
to the gold price, but silverstocks did not. They're still
grossly undervalue.
Speaker 2: You were listening to Carrie Leutz's Financial Survival Network, where
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Speaker 3: And welcome you are listening to and watching the Financial
Survival Network. I'm your host, Carrie Leuts. David Earthley is
with us.
Speaker 4: Now.
Speaker 3: If I sound excited for this interview, there's a good
reason I am. I'd been looking forward to this one
for nearly a month. David, you have been one of
the people who's called this run up in silver almost
to the day. I remember back in May we talked
about thirty two point fifty being a line in the
sand and the cup with the handle a twenty five
year cup with a handle, right, forty five? Yeah, forty
five you know silver Ojetas, Yeah, forty five years. How
can I forget that? But you know, the manipulation of
silver goes back over one hundred years. But we don't
need to do ancient history. It started really in nineteen
sixty five when they demonetize the coinage in in the
United States and Canada and the rest of the world.
Canada had eighty percent silver coins back then, and eventually
no country in the world puts silver in their coinage
because it would just be hoarded and it's not really
compatible with an inflationary environment, is it.
Speaker 1: No, And now it's it's it's sixty percent an industrial metal.
So the shortage now it's it's in its six consecutive
year to going into its six consecutive year now of
a structural deficit. And you know, I mean the physical
price and the paper price is really disconnected. If you're
buying silver and CHANGI you're paying over one hundred and
thirty dollars an ounce.
Speaker 4: Now I'm the premium. Yeah.
Speaker 3: You know Keith Neumeier, when I first heard him speak
fifteen years ago at Hard Assets in New York, he said, exactly,
what's happening now is going to happen commercial signal fail.
We're pretty close to that force measure. What do you
think the odds are a force majeure in the next
few weeks on the COMEX.
Speaker 4: Oh yeah, I mean anything could happen.
Speaker 1: I wouldn't put it past you know. I mean it's
a critical metal now. You know, the government identified it
as a critical medal along with the with copper, so
they could settle in paper these contracts and say, you
know what, sorry, you're not going to get your physical
We're going to settle in paper. That could happen. I
mean the silver price has quadrupled now since uh Trump
was you know, created as the fourth president, and now
gold has nearly doubled. I mean, this explosive move we're
seeing in both precious metals, I mean it's basically it's
really not just another bull market rally. It's you know,
gold blowing past five grand like it's not even there,
and silver clear and one hundred dollars an ounce like
a hot knife through butter. That basically represents a funnel
metal breakdown in confidence in the world monetary system that's
basically been building since the two thousand and eight financial crisis.
I mean, this extraordinary rise in both gold and silver
is basically the marketplace saying, hey, the global sovereign debt spiral.
You know, over three hundred and fifty trillion of global debt,
it's now reached terminal velocity. And that is intermixed with
increasing geopolitical turmoil, especially from the Trump administration. While generalist
investment institutions at the same time and retail investors they
have only recently returned to the to the to the
precious metals mining space after leaving in mass in twenty twelve.
I mean, I remember during the last Bowl market, fifteen
fifty was the line in the sand and goal. I
said to myself, Okay, if you know, fifteen fifty has
been strong support and if around this was around twenty twelve,
twenty thirteen, if that goes, I'm going to have to
sell all my gold stocks because then we're in for
a pretty deep correction. And lo and behold, the gold
price cratered all the way down to nearly one thousand
dollars announced by the end of twenty fifteen, the GDX
and the GDXJ corrected eighty five percent. And as when
the gold price hit one thousand dollars, I mean, everybody
had basically sold everything as far as precious metal stocks
related stocks were concerned, and the shorts were cleaning up
like crazy. And like I said, the gold price I
get bottom at like ten forty five, right, and then
it took almost five years for gold to reach two thousand.
Then it consolidated that move for about four and a
half years, and then it took about another forty four
and a half years to get to three thousand. Well,
from three thousand to four thousand, it only took seven months.
And now from four thousand to five thousand, it only
took three months. And now it's it's reached fifty it's
fifty three to fifty here right before the Fed's about
to about to to basically basically say that they're going
to come out and not raise interest rates. But whatever
they do, it's it's a lame it's a lame duck
FED right now because Trump is about to hire a
yes man. I wouldn't be surprised if he does it
right after FED, right after Powell says they're not going
to raise interest rates, he'll come out and with a
tweet and say something like too late, Powells not written
not lowering interest rates to basically help us lower the
dollar on purpose to bring manufacturing to this country. You know,
I mean, everything that they're trying to do is they're
trying to intentionally devalue the dollar because that's this is
the only way out of this mess, is devalue it.
Because obviously they don't care about deficits. You know, Gerald
powk the government continuing to borrow money and spend money,
and there's no impetus, there's no interest in paying any
of it back because they can't. I mean, back in
nineteen eighty, when I was in high school and.
Speaker 4: I saw the headline news.
Speaker 1: Global debt reaches one trill on, I'm like, wow, a
trillion in debt and the debt to GDP at the
time was like thirty five percent. Well, now we're adding
a trillion in debt every eighty days and debt to
GDP is one hundred and twenty five percent, and there's
no intention of any of these governments pay anything back.
It's this huge Hanzite teme that now is coming to
a head. That's what Golden Silver is screaming at us right.
Speaker 3: Now, totally screaming. And is anyone listening besides our little group?
I think more people are listening now, David than ever before.
And uh, you know it's like after the financial collapse,
nobody learned anything. We solved the problem with more death.
Speaker 1: How does that just it's kicked the can down the road.
Well that road is coming to an end now. They
can't kick it down that any any any longer.
Speaker 4: And uh, it's you know, the Japanese bond market is
blowing up right now. Yeah, right, So that is just
and and the and the US came out and said, hey,
we're gonna we we we we may be we may.
Speaker 1: Be shoring up the the the Japanese bond market. So
they keep doing these currency interventions and people are no
longer fooled by this. And Wall Street now is even
is even telling you know, investors to invest in gold.
You know, Wall Street, these big banks, they pooh pooed
gold and silver for so long, you know, right, I mean,
gold is a barbarous relic. It doesn't pay any interest.
You know, silver is too cheap to be to be
called a precious metal. It's too volatile. You know, it
has these spikes and then you know that they get
quashed and then they and then they turned into these
long bear markets. But if you take a look at
the at at at the at the forty five year
cup and handle silver chart that you that we referenced
earlier in this conversation, well back when I was in
high school again, when the Hunts tried to corner the
silver market. Yeah, yeah, that was the synthetic move, right.
The Hunts were trying to corner the stiver market. So
what what did the government do? They change the rules,
and all of a sudden, the Hunts, the Hunts were
the only ones that had silver and they became the
only sellers and the market collapsed. So that created this huge,
long term, multi decade bear market. And then we had
another huge surge back in twenty eleven. That was a
speculative move and the and the CMEME came in and
they raised margin requirements five times in two weeks to
quash that rally.
Speaker 4: Okay, did it? It created another long term bear market.
Speaker 1: But this spike is different because this spike is is
based on supply, right, There's not there's not enough silver
and people that are waiting around for this gentleman's entry
to get into silver stocks because you know, if you
look at silverstocks, right, you see look at the look
at the silver price. Wow, it's quadrupled, you know in
the past year, but silver stocks they've only they've only
more a little bit more than tripled. You know, they're
supposed to provide more leverage to the silver price that
gold stocks are doing their job. You know, they provided
two and a half times leverage last year to the
gold price, but silver stocks did not. They're still grossly
undervalued because these people that are that are trained in
it to believe that while the silver always had, it
has this spike and that it has this crash and
then it goes into a bear market for a long time.
Speaker 4: Well, the CME tried to do it again during the holiday.
Speaker 1: Yeah, over the over Christmas, right, they raised they raised
margin margin requirements three times times while everybody was on vacation.
Speaker 3: And it went up and it went up.
Speaker 1: Well, no, it came down, and it worked for like
while everybody was on vacation, and then buying came right.
Speaker 4: In it took it right back up again. Yeah.
Speaker 3: What I meant to say is I called, you know,
the day after Thanksgiving. I knew it was going to
be a massive move, and then the day after Christmas
massive move. But when they do the slams with the
higher margin, it lasts for a day or two. And
now when they do a dump, a paper dump, it's
lasting for hours. The day's come and when they do
the dump and the price goes up, and where does
that where does that leave them?
Speaker 4: David?
Speaker 1: Yeah, I mean earlier this earlier this week, we had,
you know, at the beginning on Monday golds, you know
last okay, last week, gold finally broke a hunhundred well
Monday gold spike to a silver spike to one hundred two,
one hundred and seventeen dollars an ounce, and the gold
price went above fifty one hundred. Well, there was an
inter day reversal, and you know the stocks, you know,
gold stocks, mining stocks did the same thing. They had
this inter day reversal, you know, showing okay, well maybe
this is finally an interim peak and maybe we can
get some consolidation before we go higher. Well, that that
weakness was immediately bought as soon as the US Consumer
Confidence Index came out showing it it's that it's plunged
to its lowest level since twenty fourteen. And that's that's
that's even lower than the pandemic. So and then Trump
came out and he dismissed the concerns about the dollar
because what the dollar did was it it's it moved
down to it to US Dollar index moved down to
four year support at ninety six, where it's trying to.
Speaker 4: Stabilize right now before the Fed.
Speaker 1: And he come out and he said basically, he told
reporters that he thinks the dollar to the client is great,
and he said he's happy just to see the.
Speaker 4: Dollar seek its own level. Right.
Speaker 1: Well, the market heard this and it was basically a
permission to sell the dollar. So the dollar promptly had
its worst day since April. So because Trump, he understands
that in order for the US to bring back manufacturing,
they need to devalue the dollar. Weaker currency supports exports,
I mean, it reduces the burden of record government debt, right,
I mean, just the interest on the debt is over
a trillion dollars. So dollar weakness is not a problem
to be solved. It's basically a feature to be tolerated
when devaluation aligns with their.
Speaker 3: Well, look, he can't come out and say we're crashing
the dollar to do all these things, exactly. No. But
if gold and silver start going up and the dollar
starts coming down, although you know, it looks like we're
hitting a panic period, and that panic invariably probably going
to be triggered by events in Asia and in Europe,
so you know, we won't see a Leman moment anymore
because basically it's all a big you know what sandwich
and everyone has to take a bite. Now, that's the
way the system's set up. So if a big one
goes down, all the big institutions got to pay up. Yeah,
that's around the world. And I think it could very
well be a hedge fund or some large private equity
fund that tanks.
Speaker 4: Yeah, yeah, I wouldn't be surprised.
Speaker 1: I mean, the accumulation of the blows to the to
the US dollar by the Trump administration and combined with
the FED caving on inflation.
Speaker 4: Right, they're two percent fantasy target. It's nowhere near it.
Inflation's nowhere near.
Speaker 1: They keeps going higher, and basically, I mean it's it's cemented.
The both presses medals position is the ultimate safe haven,
and it's been. It's now forced Wall Street to stop
demonizing the metal as a barbarous relic. Like I said,
at the best now there now they're you know, sixty
forty portfolio was for decades, was was was recommended by
by Wall Street and analysts. Right, sixty percent stocks, forty
percent bonds. Well recently now it's oh, sixty percent stocks,
twenty percent bonds, twenty percent precious metals.
Speaker 4: That is monumental, right.
Speaker 3: That is because because the average holding of somebody in
the West was under.
Speaker 4: Two percent, less than one percent. Oh, let's see what
it got.
Speaker 3: Well, with the market going up as high as it did, right,
it went under one percent.
Speaker 4: Yeah. Yeah.
Speaker 1: So in twenty eleven, right when when gold spike fit
around nineteen hundred and silver spiked at fifty, the ETFs
goldie precious metals ETFs in relation to the ETF market
was like eight percent. So I mean gold now is
over five thousand dollars an ounce, and silver's way over
one hundred. And the marketplace is still is just finally
waking up to precious metals because they've been so distracted
by the stock market continue to go up, by their
tech stocks continuing to go up. So you know, with
with with the like twenty eight trillion in tech stocks,
when they when they start to finally rotate into the
precious metals sector, I mean, we still got that ahead
of us.
Speaker 4: Yeah.
Speaker 3: And I tell you a secret from a friend of
mine who my friend Brad, who deals metal on the side,
and he's gotten notices from all the silvery finers he
deals he does business with. They're choking on inventory because
retail is dumping their physicals.
Speaker 4: Yeah. Oh it's it's a spike. I'm taking my profit yep, exactly.
Speaker 3: So all right, David, I would say, tell us how
we can sub subscribe to Junior Minor Junkie. But I
understand you've closed subscriptions now.
Speaker 1: Yeah, I mean last week I got a wave, I
mean a crazy wave of interest. I'm surprised my site
didn't didn't collapse. It was fantastic. I got so many
subscribers that my limit, my five hundred limit is full.
I limit to five hundred subscribers because you know, I'm recommending,
I'm purchasing and recommending these juniors, and some of.
Speaker 4: Them don't have a lot of liquidity in the US.
Speaker 1: And you know, sixty five percent of my subscriber base
as US investors, So you know, in all fairness, I
want to make sure that we all kind of get
in at the same price. And if I have, if
I have too many subscribers, that that that really can't happen.
We start to become the market for these stocks, and
I don't want that to happen. So there is a
waiting list, and I do get cancelations from time to time.
So you can come by my website at Junior minor
Junkie with a y dot com and if you hit
the subscribe button, it'll take you to a waiting list
and you can and you can put your name on
the waiting list. So what that waiting list entails is
once I have about like five ten spaces open up,
I will send out an email to all the tou
everybody on them waiting list, and then first come vers.
Speaker 4: Yeah, got it all right?
Speaker 3: Now, those are exciting times here and appreciate your coming
on and we will talk to you against soon. If
you got a question for David or myself, shoot me
an email KLF Kerrie lets dot com. Everyone, we'll get
back to you as quick as we can. We're getting
inundated with emails now and we'll do our best. David,
great talking to you and we'll be in touch soon.
Speaker 4: You too, Carrie. Always great talking to you, and thanks
again for having me on.
Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network, your
solution to today's trying times. For the latest, go to
Financial Survivalnetwork dot com. Financial Survival Network
Speaker 4: Now more than ever,