Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🔥 Steve Forbes VISION "Lurching Towards GOLD STANDARD" - $10,000 Gold Price and $100 Silver Price?

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🔥 Steve Forbes VISION "Lurching Towards GOLD STANDARD" - $10,000 Gold Price and $100 Silver Price? · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:02
  Welcome to the live stream. Welcome
• 0:04
  to Sunday morning. We have an ex presidential
• 0:07
  candidate actually two time ex presidential candidate.
• 0:10
  He's also a finance industry
• 0:13
  legend. He's also a multi multi
• 0:16
  millionaire. I thought he was a
• 0:17
  billionaire, but I was wrong upon research. He's
• 0:20
  worth about $450 million. He's
• 0:23
  talking about the world lurching towards the gold
• 0:27
  standard. Guys, this means 10 ,000 gold
• 0:31
  easy. I saw Lynette Zhang on
• 0:34
  another video just earlier in the week talking about
• 0:37
  $60 ,000 gold. We're going to dig into what
• 0:40
  he's saying and why it's so important to us as
• 0:44
  precious metals investors. I want to say hello to Annie
• 0:47
  Oakley. Thank you for being here. Thank
• 0:49
  you to all the moderators who help out. I
• 0:51
  saw snake bite. I saw Neil Hawn and I saw
• 0:54
  who else. Oh, Cliff Moberg. So
• 0:57
  thank you guys for being here. Let's
• 0:59
  dig in right away. But before we get to this gold
• 1:02
  standard, big, big news. This
• 1:05
  is shattering a lot of people. This
• 1:07
  is mainstream oriented. Let's
• 1:10
  talk about let's touch on what we woke up to
• 1:12
  yesterday, which was a major bank failure. Now
• 1:16
  people are saying, oh, bank failed, bank failed. It
• 1:19
  wasn't as large as some of the banks we had a year
• 1:22
  ago. But the big fear is that this
• 1:24
  is the first domino to fall. And
• 1:26
  we're going to go take a look once again at hold
• 1:31
  on. Here we go. I've
• 1:35
  got this highlighted for us. We
• 1:38
  need to revisit this the gray section right here
• 1:41
  sums it up again from zero hedge Republic Bank had
• 1:44
  about 6 billion of assets and 4 billion of deposits
• 1:48
  at the end of January, according to the FDIC, also
• 1:53
  known as hold on. What happened here we are. Also
• 2:01
  known as the fdick. The FDIC estimated the failure
• 2:06
  will cost the deposit insurance fund. This
• 2:09
  is big fact number one we need to remember almost 670
• 2:13
  million, 670 million dollars. I'll
• 2:16
  slow down. As the Wall Street Journal
• 2:19
  reports, they struggled for four months to say for
• 2:22
  months to stay afloat around half of the deposits
• 2:25
  were uninsured. Big thing. Okay.
• 2:29
  Half of these people had uninsured deposits with the
• 2:33
  bank in total equity or assets minus liabilities was
• 2:37
  96 million. But here's the big thing. This
• 2:41
  is where we need to pay attention guys this is
• 2:44
  where the dominoes fall that excluded 262 million
• 2:49
  of unrealized losses on bonds that it labeled quote
• 2:54
  unquote held to maturity, which means the losses had
• 2:59
  not been counted for on its balance sheet that make
• 3:03
  believe Disneyland accounting like I called it yesterday
• 3:06
  but this is massive guys because this shows us. It's
• 3:10
  not just Republic Bank. It's
• 3:13
  all the banks are in the same situation they've got
• 3:16
  a bunch of unrealized losses on their balance
• 3:20
  sheet. Okay, it'd be like if you came
• 3:22
  to me and said Ron and I and I was a bank and said
• 3:25
  Ron here's 100k. I take your hundred thousand
• 3:29
  dollars by some bonds and over two year three year
• 3:33
  period, they drop in value by 30 or 40%. So
• 3:36
  now instead of having your $100 ,000 I only have $60
• 3:40
  ,000 and that's all good and dandy until you show
• 3:44
  up wanting your money back. And
• 3:46
  I say, Oh, I have an unrealized loss on my
• 3:50
  balance sheet. This is what's going on across
• 3:52
  the banking sector are all the banks and solve and
• 3:56
  I've heard a few people throw out that blanket
• 3:58
  statement. I won't say all every but
• 4:01
  I'm telling you there's a good amount and some smart
• 4:05
  people are saying all the banks are insolvent. You
• 4:09
  know as long as everybody doesn't show up and want
• 4:11
  their money. It's not a problem, but the
• 4:14
  reality is if they recognize the losses that
• 4:17
  they have right now on the investments they've made.
• 4:20
  They are in big, big, big
• 4:23
  trouble. Okay, right and here's the thing.
• 4:26
  Here's the here's the zinger, the
• 4:28
  double zinger on this rates are not going back down.
• 4:32
  The reason why we have this
• 4:34
  issue with the banks is because rates went up.
• 4:38
  Guys, rates are not going down.
• 4:39
  Don't believe it. Okay,
• 4:41
  they cannot lower rates. Nobody
• 4:43
  will buy the government debt. Remember
• 4:45
  the US debt clock 34 point maybe we'll go look at it.
• 4:49
  It's been about a week 38 4 .8
• 4:51
  trillion dollars. Here, let's run out there and
• 4:53
  take a look. This is why very clearly they
• 4:58
  cannot. They cannot raise and 34 .7
• 5:09
  trillion US dollars that's only 100 ,000 per US
• 5:13
  citizen as you can clearly see, or if you pay taxes
• 5:16
  in this country that's equal to over a quarter
• 5:20
  million dollars of debt per US taxpayer. They
• 5:24
  can't raise rates. Okay, and they can't I'm sorry
• 5:29
  they can't lower rates. They
• 5:30
  can't raise rates because to fight inflation because
• 5:34
  the whole system implodes 300 trillion dollars of
• 5:38
  debt in the world. Three times the world GDP. It's
• 5:43
  unbelievable. Are they going to lower rates
• 5:46
  lower rates would would perversely help the banking
• 5:49
  sector right now it would make the value of all
• 5:51
  their bonds go up. No, they can't lower rates.
• 5:55
  Right again, they can't lower
• 5:56
  rates because nobody will buy the bonds and that
• 5:59
  will create hyper inflation. Massive
• 6:03
  inflation. We saw what happened two years
• 6:05
  ago. Larry Summers, the 71st Treasury
• 6:07
  Secretary of the United States said in himself we
• 6:10
  had 18 19 % inflation. They are they are in a box and
• 6:15
  guess what more big news and don't worry we're going
• 6:17
  to talk about that gold standard. This
• 6:20
  week we get to hear from our old friend Gomer Pyle
• 6:22
  Jerome Pyle from the United States Federal Reserve May
• 6:26
  1, which is probably Thursday. I
• 6:28
  don't have a calendar in front of me, but he's
• 6:30
  going to tell us about how they're monitoring the
• 6:33
  situation closely and but but but but but but but
• 6:37
  right. Remember the Charlie Brown teacher.
• 6:42
  Yes, that's what's going to
• 6:43
  that's what we're going to hear out of them they are
• 6:45
  in a box he is up a creek without a paddle, as
• 6:49
  they like to say here in Missouri where we have lots
• 6:51
  of creeks. They're not going to be able to
• 6:55
  to deal with the situation okay rates. I
• 7:00
  don't know. I know they may lower rates,
• 7:02
  whatever they know whatever BS they come up with, but
• 7:06
  basically, no matter what they try to do. They
• 7:09
  are in a precarious position right now that's
• 7:13
  that's the fact of what's going on. Let's
• 7:16
  talk about this finance legend who's talking about
• 7:20
  the gold standard and let's let's hear what he says
• 7:22
  because this is fast. Fascinating.
• 7:24
  I'm going to read to you some of the clips this
• 7:26
  came from Steve Forbes. He's
• 7:29
  the editor in chief at Forbes magazine you've
• 7:31
  probably heard of that he's a two time presidential
• 7:35
  candidate. He's a very smart guy very much
• 7:38
  respected very much is Forbes not mainstream like
• 7:42
  the most mainstream what's it mean when mainstream
• 7:45
  media is talking about gold. What
• 7:47
  does it mean when they're talking about silver. That
• 7:51
  means guys we are in the cusp of a new day for
• 7:54
  silver and gold investors okay. It's
• 7:57
  hard to believe. This is what he said but the
• 8:00
  world is lurching towards a new gold standard. No,
• 8:05
  no monetary system is held in such contempt among all
• 8:10
  economists. Thank you Steve Forbes for saying
• 8:13
  this held in content. Silver
• 8:15
  and gold amongst all economists and financial
• 8:18
  officials today as the gold standard. And
• 8:22
  isn't that the truth we know the Fed hates gold.
• 8:24
  The US government the federal
• 8:26
  government hates gold. What about local states what
• 8:29
  about state by state what about the 50 states here
• 8:32
  in the United States who are founding fathers
• 8:35
  protected with the United States Constitution and
• 8:38
  wrote silver and gold into the United States. That's
• 8:40
  a different story. You may live in a state that's
• 8:43
  helping to protect you right go check out citizens
• 8:46
  for sound money. Go check out the Missouri
• 8:49
  Freedom Initiative guys it's happening little by little
• 8:52
  chip by chip okay but on a federal level like Mr.
• 8:55
  Forbes says the government hates
• 8:58
  silver and gold. This is this is great the
• 9:02
  United States was on a gold standard for 180 years
• 9:06
  Mr. Forbes said it worked pretty
• 9:08
  great. Very little inflation right
• 9:12
  because when the money is tethered to silver when the
• 9:15
  money is tethered to gold I got I got a gift in
• 9:18
  the mail I'm going to show you came yesterday
• 9:19
  coincidentally and fits in awesome with what we're
• 9:23
  talking about we've got a box to open basement
• 9:25
  dwellers and thank you by the way for being here
• 9:27
  it's time for me to butter you up it's a big deal
• 9:30
  when you come join me in the basement okay you I'm
• 9:35
  talking to you there's only one you are the most
• 9:37
  important part this is not possible it's not round
• 9:40
  tube if it was it be just me so thank you for being
• 9:43
  here please give us a thumbs up subscribe to the
• 9:45
  channel if you want to get an interesting piece of
• 9:47
  content every single day about silver and gold and
• 9:49
  it's free and super chats are always super appreciated
• 9:54
  where was I the gold standard worked really well
• 9:57
  for 180 years worked pretty great right no inflation
• 10:02
  and the greatest economic growth in the history of
• 10:08
  the world wait a minute did he just say that right
• 10:14
  that when the United States was on the gold standard
• 10:17
  for 180 years we had very low inflation maybe hold on
• 10:22
  a second hold on hold on maybe Mr. Forbes
• 10:26
  these dev lunch with this guy yeah we'll see a
• 10:29
  Wednesday or Thursday whenever right Jerome when
• 10:34
  we were on the gold standard we had very low
• 10:36
  inflation and what weight Jerome there's more we had
• 10:42
  the greatest level of economic growth in the
• 10:46
  history of the world somebody riddle me this why
• 10:52
  aren't we on the gold standard anymore oh that's
• 10:54
  right 1971 President Nixon took us off the gold
• 10:57
  standard and since then right the value of the
• 10:59
  dollar this thing right has gone down woo bye bye 98 %
• 11:06
  99 % against gold but wait there's more there's more
• 11:11
  let me show you something interesting I got a box
• 11:14
  this came yesterday okay and there's something in
• 11:18
  there that will demonstrate to us exactly what Mr.
• 11:21
  Forbes is talking about I took
• 11:22
  some pictures to make this easy hold on here guys I'm
• 11:27
  going to show you what showed up yesterday this
• 11:30
  was awesome this made my day there we go got this
• 11:35
  little box with this inside of it hmm I wonder what
• 11:39
  that is I bet you're wondering what that is it
• 11:44
  says a silver certificate were a type of
• 11:48
  representative money issued in the United States
• 11:51
  between 1878 and 1964 you could take your silver
• 11:56
  certificates they look a lot like dollar bills don't
• 11:59
  they but wait wait till you see this to any bank
• 12:02
  in the United States of America and exchange the
• 12:05
  certificate for silver coins including silver dollars
• 12:10
  note at the bottom of the certificate that it clearly
• 12:15
  states in silver payable to the bearer on demand and I
• 12:21
  want to say before I forget thank you to Gary
• 12:23
  for sending me this Gary that really made my day
• 12:26
  yesterday so thank you my friend hold on let's take
• 12:31
  a look oh there it says right there one dollar but
• 12:36
  it also says in silver payable to the bearer on
• 12:40
  demand can you imagine that in this country we had a
• 12:44
  situation where the one dollar bill was actually
• 12:48
  backed by silver really oh okay but that didn't work
• 12:54
  out so well we we just we just had the greatest
• 12:57
  period of economic expansion in the history of the darn
• 13:01
  world are you going to be in me oh and by the way
• 13:05
  we had very little inflation sure we had ups
• 13:07
  and downs we actually had economic cycles that help
• 13:11
  cleanse the business of community of non performers
• 13:14
  they were called recessions and maybe even little
• 13:16
  depressions where people learn lessons not like 2008
• 13:20
  right where where the bankers should have been
• 13:23
  some of them should have been put in jail and some
• 13:25
  of them should have lost their jobs but instead they
• 13:28
  got bailed out by the government and they got big
• 13:30
  big bonuses on top of it I digress I'm sorry he
• 13:34
  also sent me this Morgan dollar from 1878 and it is
• 13:38
  absolutely beautiful and I love Morgan dollars so
• 13:43
  again thank you Gary and thank you for this
• 13:45
  demonstration for our viewers to see visibly
• 13:48
  let's go back one more time guys and look at that
• 13:52
  one dollar right there here let's look at the new
• 13:55
  dollar real quick let's remember this take a
• 13:58
  picture in your mind it says Washington one dollar
• 14:02
  in silver payable to the bear on demand and now I'm
• 14:07
  going to show you this notice anything they took
• 14:14
  that part out underneath one dollar it never no
• 14:17
  longer says payable and silver to the bear on
• 14:20
  demand but let's get back to our friend Steve Forbes
• 14:23
  and talk about 10 ,000 $10 ,000 gold hmm keep new
• 14:29
  Myers $100 triple digit silver it gets more
• 14:34
  interesting real money since we went off the gold
• 14:37
  standard this is according to Forbes average growth
• 14:41
  rates in the United States have fallen by one third
• 14:45
  if we'd stayed on the gold standard median household
• 14:49
  income right now in the United States would be 40 %
• 14:53
  higher than where it is okay but and I wrote this
• 14:58
  part in the paper unicorn factor central banking world
• 15:03
  has massive disdain for gold and silver remember
• 15:07
  that guys we've been oh yeah we have $2300 gold
• 15:12
  let me remind you we have $27 silver which isn't
• 15:15
  great but good okay we'll see good right and we're
• 15:19
  fighting every headwind known demand including the
• 15:22
  entire financial system economic establishment
• 15:27
  pushing us down and that's all they got like they're
• 15:30
  giving it all they got right and gold and silver
• 15:32
  are hanging in there and doing pretty darn well okay
• 15:36
  do you ever wonder why and there are big signs of
• 15:40
  change this is where it gets super interesting
• 15:43
  before we dive into that let's say thank you to
• 15:46
  channel sponsor pinbacks PIMP EX fund to say fun
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• 16:06
  that's really important when I'm buying silver okay or
• 16:10
  gold for that matter more of a silver guy myself but
• 16:13
  nonetheless I love gold you know that but the key is
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  you want to work with a company you can trust check
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  you want to get a great product you want to get a
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• 17:00
  get more metal for your money and a great customer
• 17:02
  experience now let's move on there's signs of change
• 17:07
  in the world according to Steve Forbes former
• 17:10
  presidential candidate well 450 million dollar man
• 17:14
  right finance legend uh -huh okay the world central
• 17:18
  banks purchasing gold at record rates thank you
• 17:21
  Steve we knew that already China Russia India Poland
• 17:25
  but the key here that he points out everyone
• 17:28
  beginning to doubt the value of the dollar I
• 17:33
  don't like it you don't like it we're Americans
• 17:34
  I've got American flags I don't like what our
• 17:37
  government has done since 1971 to the dollar and
• 17:41
  it's okay because we have this thing called the
• 17:43
  constitution which grants you and me freedom of
• 17:46
  speech we do live in a country where we can
• 17:49
  disagree verbally with what our government's done we
• 17:52
  don't like it but countries the world is doubting the
• 17:56
  dollar no doubt about it okay he talks about crypto
• 18:01
  he brought up a really great point because people
• 18:04
  say well Bitcoin's going to take over Bitcoin's going
• 18:07
  to be the new you know world reserve currency he
• 18:11
  said crypto is not stable you won't be it won't be
• 18:16
  can't be used in things like long term contracts
• 18:19
  because and his point that he's making I'm not anti
• 18:22
  Bitcoin I'm not anti crypto I'm not anti blockchain I'm
• 18:26
  just telling you what he said which didn't work it
• 18:28
  makes sense to me companies individuals might be a
• 18:32
  little leery of getting into long term contracts
• 18:35
  like a 10 year contract with Bitcoin because they
• 18:38
  don't know if Bitcoin going to a million is Bitcoin
• 18:42
  going to go back to 17 ,000 right so if they make
• 18:46
  a contract a long term contract and say well I'll
• 18:49
  pay you you know to Bitcoin a year well that
• 18:52
  could either for the next 10 years that could mean
• 18:54
  either $2 million per year or it could mean $20
• 18:58
  million $20 ,000 per year depending because because
• 19:00
  the price has been so volatile I never really
• 19:03
  thought about that like the business community is leery
• 19:06
  of embracing it because of that factor alone okay the
• 19:11
  wild price swings unbelievable okay
• 19:14
  governments. Mr. Forbes says right now around the
• 19:18
  world are floundering with monetary and fiscal policy
• 19:21
  like we talked about earlier the world has $300
• 19:25
  trillion in debt three times the global GDP, and
• 19:30
  then we have everything going on with the bricks,
• 19:33
  everything going on every day we're getting a new
• 19:36
  story about the bricks countries expansion within
• 19:39
  the bricks countries, moving away from the dollar now
• 19:43
  look I'm not going to tell you the dollar is going to
• 19:45
  go away tomorrow or next week or this year or not
• 19:49
  next year it likely will be a very slow process,
• 19:52
  but one thing we know for sure the D dollarization
• 19:56
  process is has started and is moving right how quickly
• 20:01
  it happens we could have an event we could have an
• 20:03
  event tomorrow you never know right I'm not
• 20:06
  predicting that I'm not saying the sky's falling
• 20:08
  I'm not saying we're all going to be walking around
• 20:11
  like zombies trying to buy bread with with little one
• 20:15
  ten thousand silver pieces or anything like that but
• 20:17
  we do know that the D dollarization process has
• 20:21
  started and Mr. Forbes points he says big shifts
• 20:24
  this gets interesting big big shifts India is
• 20:30
  experimenting I didn't know this excuse me with gold
• 20:35
  based government bonds did you hear that gold based
• 20:40
  government bonds no offense but Bitcoin people but not
• 20:44
  Bitcoin based government bonds monetary expert Nathan
• 20:47
  Lewis said the following. He
• 20:50
  said the gold bank bonds will would likely be very
• 20:53
  popular from the start of the float floating currency
• 20:57
  period in 1971 a gold bond. Okay,
• 21:01
  if they'd had gold bonds paying 4 % would have out
• 21:05
  performed every bond out there in the market and
• 21:08
  even the stock market worldwide stock market
• 21:11
  returns. Then they point out Zimbabwe is
• 21:13
  the poster child right the poster child for what's
• 21:16
  going on they've had they had run away inflation
• 21:19
  currency crisis like nothing before. Now
• 21:23
  they have moved to a gold backed central bank
• 21:26
  controlled gold backed gold standard currency called the
• 21:30
  ZIG Z I G. It's a sign of things to come
• 21:35
  according to Mr. Forbes okay now let me let me
• 21:38
  just read you a couple recent this is the last
• 21:40
  two weeks. Zimbabwe is on the gold standard
• 21:43
  and here and here's what we're hearing this came
• 21:45
  from Bloomberg. The gold standard is a word
• 21:46
  Kenyan President William Ruto hailed Zimbabwe's gold
• 21:51
  backed currency as a potential driver of economic
• 21:53
  recovery in the southern African nation, fitting to
• 21:58
  use mineral wealth to back local units he said
• 22:01
  Zimbabwe's new currency is a step toward eventually
• 22:06
  abandoning the use of US dollars in the economy. Let
• 22:10
  me back up. Zimbabwe's new currency is a step
• 22:14
  towards eventually abandoning the US dollar in the
• 22:18
  economy. Vice President Constantino
• 22:21
  Chewinga said that's he's from Zimbabwe. The
• 22:25
  nation is is going to intend intensify its
• 22:29
  monitoring of gold mining to boost its reserves.
• 22:33
  Chewinga tells business leaders that
• 22:36
  the ZIG right the Zimbabwe gold backed currency is
• 22:40
  here to stay. But what else are we hearing
• 22:44
  right okay Zimbabwe right. What
• 22:46
  about Thailand did you hear what Thailand is doing
• 22:50
  right Thailand is a big growing country. I've
• 22:54
  actually been to Thailand I spent a month in Thailand.
• 22:57
  My friends college professor
• 22:58
  over there is before I was right when I met Susie
• 23:01
  before we were married and had kids Thailand. We
• 23:04
  have we have these preconceived notions about
• 23:07
  Africa eight parts of Asia Thailand is Bangkok is a
• 23:12
  crazy crazy big city big business big money. What
• 23:17
  are we learning from Thailand. What
• 23:19
  are they doing with gold. Let's
• 23:21
  go check this out right now. From
• 23:29
  the Bangkok post I read that when I was there and
• 23:32
  from our friend John little at the Silver Academy
• 23:34
  there's a link to that in the description of this
• 23:37
  video. Government pension fund. This
• 23:40
  is from Thailand government pension fund. The
• 23:47
  government pension fund. The government pension fund. The
• 23:53
  government pension fund. The government pension fund. The
• 23:53
  government pension fund. The government pension fund. The
• 23:55
  government pension fund. The government pension fund. The
• 24:03
  government pension fund. The government pension funds
• 24:13
  into precious metals. I like some silver and I
• 24:17
  like gold mining stocks that's for sure isn't that
• 24:20
  what we do. Hey while we're talking about
• 24:22
  that we're going to come back to this hold on a
• 24:25
  second here. Hold on a second. Let's
• 24:28
  say thank you please help me say thank you channel
• 24:32
  sponsor first mining gold or gold developer to multi
• 24:35
  million ounce big big projects development stage
• 24:38
  projects in Canada. The big miners like new month
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  did you hear about new month mining blowout quarter
• 24:45
  the stock exploded right well let me tell you
• 24:49
  something about new month Barrack these big gold
• 24:51
  mining companies. They've not been investing in their
• 24:55
  future and every time they dig up an ounce of gold
• 24:58
  right that contributed to that recent blowout quarter.
• 25:02
  They've got to replace that and
• 25:04
  they haven't invested heavily in exploration or
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  development for the last decade. They're
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  going to be facing a crisis in the coming years
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  and possibly that could be a huge benefit to a
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  company like first mining gold who's got big projects
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  that they're moving through the development stage
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  project You can learn more about them at first mining
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  gold calm and our friends at fortuna silver gold and
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  silver mining company operations in Latin America
• 25:31
  and West Africa you can learn more about fortuna
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  silver at fortuna silver dot com. Let's
• 25:40
  get back to this quickly the strategic move by the
• 25:43
  by the tie. pension fund is a proactive
• 25:48
  response to mounting concerns over wars,
• 25:52
  elections, and interest rate uncertainty. It's
• 25:55
  a testament of the funds astute management. By
• 26:00
  diversifying away from capital markets and shifting
• 26:03
  assets to golden oil. The pension fund aims to
• 26:07
  protect its portfolio from the impact of these
• 26:10
  geopolitical events and market volatility. The
• 26:14
  exact percentage of assets allocated to golden oil oil
• 26:17
  was not specified in the reports. Okay.
• 26:21
  Interesting times. Let's let's talk about let's talk
• 26:25
  about our one of our favorite subjects here
• 26:29
  basement dwellers skyrocketing. We
• 26:31
  started talking about $10 ,000 gold, right $100 $150
• 26:36
  silver. We've you you and I have been
• 26:40
  talking about this for over a year stagflation. Okay,
• 26:45
  Jerome Powell being in a box. We
• 26:48
  have beat the table over and over that we're moving
• 26:51
  into a stagflationary environment. That's
• 26:53
  when last time we had stagflation silver went from
• 26:56
  $1 .50 to $50 per ounce. What
• 26:59
  is that? That's that's more than 25 times.
• 27:04
  That that's like $700 silver
• 27:07
  from where we are right now. I'm
• 27:08
  not saying for sure that's going to happen, but I am
• 27:10
  saying for sure. Very confidently that we're
• 27:13
  moving into stagflation. Let's
• 27:15
  hear what Dave earthly I got two paragraphs they've
• 27:18
  earthly put out in his weekly column that and he
• 27:21
  talks about Jamie Diamond. What
• 27:23
  did Jamie Diamond from J .P. Morgan
• 27:25
  Chase. Did he say something about
• 27:27
  stagflation right don't forget that's rocket fuel.
• 27:32
  Okay, here, take you grab
• 27:33
  yourself one of these. Right.
• 27:37
  Here's a silver dollar. Grab
• 27:39
  yourself one of these and imagine it going up in
• 27:42
  value by 10 times possibly five times four times 25
• 27:48
  times 30 times. Look, anything is possible. I
• 27:52
  know we've been beaten down so bad. That's
• 27:55
  that's stagflation is the rocket fuel that gets
• 27:59
  underneath that. Let's hear. Let's
• 28:01
  hear this out. Okay. Dave said both the US.
• 28:05
  This is what happened last week
• 28:07
  US GDP and PC reports released ahead of next
• 28:12
  week. Wednesday's FOMC meeting reflect that
• 28:16
  the gold price. What what the gold price already
• 28:19
  sniffed out. Don't we talk gold sees around
• 28:23
  the corner silver see around the corner they look
• 28:25
  out into the future they are the oldest wisest,
• 28:29
  smartest markets in the world. Okay,
• 28:31
  and that's what Dave says they sniffed it out the
• 28:34
  world's largest economy is heading into stagflation as
• 28:39
  the government raising taxes has reduced GDP while
• 28:43
  inflation remains well above the Federal Reserve's
• 28:47
  mandated target of 2 % they're only supposed to
• 28:50
  steal 2 % of your money per year with inflation.
• 28:52
  They've been doing a little better
• 28:54
  three and 4 % heck one year, according to Larry
• 28:56
  summer 71st Treasury Secretary of the United
• 28:58
  States they took almost 18 % of your money away. Don't
• 29:02
  you feel it. When you go to the grocery
• 29:04
  store. Don't you feel it. I
• 29:07
  took the girls to Six Flags yesterday. The
• 29:10
  little bold. I mean like this big I'm not
• 29:13
  joking of Chinese food $20 I know Six Flags is a rip
• 29:17
  off anyway but you know what it's like at the
• 29:19
  grocery store. The grocery the groceries are
• 29:22
  twice as much as they were four or five years ago.
• 29:25
  Right I go to all the. I
• 29:27
  mean it's at least 80 % higher than it was four or
• 29:30
  five years ago. I digress. Let's
• 29:34
  talk about JP Morgan and Jamie Diamond. What
• 29:37
  did Jamie Diamond have to tell us about what's going
• 29:41
  on in the economy and the price of gold and silver
• 29:44
  and stagflation at the Economic Club of New York
• 29:48
  on Tuesday of last week. JP
• 29:51
  Morgan Chase CEO Jamie Diamond warned investors
• 29:57
  warned about a period of stagflation he said quote
• 30:01
  stagflation has the negative effect of no growth and
• 30:06
  inflation that hurts profits. Remember
• 30:10
  that hurts profits remember that. Okay,
• 30:13
  and consumers and jobs and yes I think there is a
• 30:17
  chance that could happen again he said he says he
• 30:20
  worries Jamie Diamond's worried. Oh
• 30:24
  poor Jamie. Well you can worry about your
• 30:27
  your $390 million bonus you may not get over the next
• 30:31
  couple years Jamie. Jamie's worried that it looks like.
• 30:37
  Wait a minute. Let
• 30:38
  me do that over. Jamie's worried. He
• 30:41
  says I worry that it looks more like the 1970s than
• 30:46
  we've ever seen before. Did Jamie Diamond just say
• 30:50
  that. Jamie Diamond from JP Morgan
• 30:54
  Chase right the cruelest manipulators of the gold
• 30:58
  and silver price on the Comex and the LBMA in the
• 31:01
  history of the world they've been convicted they
• 31:02
  paid fine. Did he just say that that it
• 31:05
  looks like the 1970s did Jamie tell us he's worried.
• 31:09
  He might be worried about his
• 31:10
  bonus. That's all right they can they
• 31:13
  can manipulate the gold and silver price for you Jamie
• 31:16
  generated a little extra profit right guys. This
• 31:19
  is what's going on but but but let's go back remember
• 31:22
  I told you to remember he said that hurts profits.
• 31:26
  So, so bear in mind something
• 31:30
  very important about gold and silver. Okay,
• 31:34
  we're going to pull something up here. Hold
• 31:36
  on one second. Here it is. And
• 31:43
  here it is. Remember what he talked about. It
• 31:47
  hurts profits. Okay. Right. Well
• 31:51
  up here. Right all this make believe right
• 31:54
  that that all that make believe money that's based
• 31:57
  upon gold and silver this is John extra's pyramid.
• 32:00
  For those of you who don't
• 32:01
  know John extra work for the New York Fed for like
• 32:04
  20 years and he's only been dead for like 15
• 32:07
  years he spent his career preaching about this gold
• 32:11
  and silver look at the bottom. Those
• 32:13
  are the only forms of real money. Everything
• 32:15
  else is synthetic. Right including stock prices. So
• 32:19
  when we have when we have and I don't know why they
• 32:25
  don't put stock prices up there because that's you
• 32:27
  know whatever you know that's part of this
• 32:29
  pyramid. When we have money when people
• 32:32
  wake up and realize that corporation we're not in a
• 32:35
  0 % interest rate environment anymore that
• 32:38
  we're in stagflation and big companies are going to
• 32:41
  be dealing with a slowing economy while at the same
• 32:45
  time rising costs, their profits are going to get
• 32:48
  squeezed. People are going to wake up it's
• 32:51
  going to take a while, but it's starting to happen
• 32:53
  they're going to wake up and take their money out
• 32:57
  of the stock market. And that's going to feed more
• 33:00
  down to the base and remember this is tiny when
• 33:05
  compared to what we have in the in the overall the
• 33:12
  gold and silver market the total I read recently total
• 33:15
  gold value in the world right now $15 trillion,
• 33:18
  total silver value in the world right now 1 .5
• 33:22
  trillion. But I'm hearing other people
• 33:24
  John Little had something the other day that said it
• 33:26
  was like 260 billion. I don't know. Right
• 33:28
  we don't know for sure but we do know one thing for
• 33:31
  sure I got to pull it up one more time it's one of
• 33:33
  my favorite things to look at that bottom part gold
• 33:36
  and silver is tiny when compared to the bond market
• 33:40
  I mean like less than 1 % when you compare it to the
• 33:44
  derivatives market the bond market the stock market.
• 33:47
  The bank all the bank money
• 33:50
  all the base money that my friends is an absolute
• 33:54
  absolute. Let's talk about some let's have
• 33:56
  some fun talking about Costco I I caused a little
• 33:59
  trouble in the cost Facebook Costco community.
• 34:03
  Let me let me see if I can
• 34:05
  get you guys out here to take a look at this
• 34:06
  because it's it's interesting and man are
• 34:10
  people clueless. So this is the St. Louis
• 34:15
  Costco Shoppers Club and some guy put this out
• 34:18
  there. He said currently it's South
• 34:20
  County that's a South St. Louis
• 34:22
  County gold bar $2399. Okay,
• 34:28
  and then there were all types of comments I called
• 34:31
  them they don't have them blah blah blah blah blah
• 34:33
  and and then some people were like saying don't buy
• 34:36
  gold don't buy gold so I made a comment here I said
• 34:38
  yes definitely stay away from gold and silver right
• 34:41
  I want to I don't want to I'm well anyway. Yes
• 34:47
  definitely stay away from gold and silver they've
• 34:49
  only been valuable for thousands of years in every
• 34:52
  corner of the planet. It's much better for you to
• 34:55
  store your wealth and paper money. It
• 34:57
  has such pretty pictures of ex presidents and you're
• 35:01
  guaranteed to lose about 3 % minimum per year steer
• 35:04
  clear of gold and silver haha. Obviously
• 35:08
  that was a joke, and I got a couple messages from
• 35:10
  people telling me that knew that thought it was funny
• 35:13
  but I'm going to show you some of the sorry I
• 35:16
  couldn't help myself. He said your and I can't that
• 35:19
  was edited out of there. This
• 35:24
  guy brought up a good point. I
• 35:26
  can be passed on to others without the government
• 35:28
  taking a big bite. These are these are Facebook
• 35:31
  people in a cost cope environment but here's where
• 35:35
  here's where it got interesting where I saw the
• 35:41
  misconceptions this guy says no returns like oh if I
• 35:44
  buy it. I can't bring it back in
• 35:46
  three months and return it will know Eisenhower because
• 35:49
  gold's traded on a market so if you buy it today
• 35:52
  when the spot price of gold is $2333 in the price
• 35:58
  drops by $300 you can't bring it back and I mean
• 36:02
  wouldn't that be nice that was an interesting thing
• 36:05
  somebody asked if there's tax on it. But
• 36:07
  there was another one oh this one here this guy go
• 36:10
  then ran grass. He said also you won't you'll
• 36:15
  never be able to sell it very easily and look at
• 36:18
  the replies they got from that. And
• 36:21
  this guy says Chris leave that's the reason I haven't
• 36:23
  gotten into it you have to know the right buy and
• 36:25
  sell groups. The biggest the biggest
• 36:28
  advantage is you and you pay capital gains long term
• 36:31
  tax which is better but some other people chimed in
• 36:34
  here. This guy said I've never ever
• 36:37
  ever had trouble getting spot price easy to sell.
• 36:40
  You know that to misconceptions
• 36:42
  number one why can't I return my gold or silver
• 36:46
  after I buy it to the to the merchant. I
• 36:48
  mean come on man the other is this conception and I'm
• 36:51
  hearing people say this more and more. And
• 36:54
  they're going to learn they're going to learn one
• 36:56
  way or the other that you can't you can sell your
• 37:01
  gold. There's there's been a market for
• 37:04
  gold on this planet for thousands of years
• 37:06
  everywhere on the planet is the economy crashing. I'm
• 37:10
  going to ask you are you seeing tell me where you're
• 37:13
  from. Let's do it one more time. Put
• 37:15
  where where you're joining us from in the comments. I
• 37:18
  want to hear where you're from. I'm
• 37:20
  are you noticing yesterday I took the girls to six
• 37:23
  flags were leaving six flags here in St. Louis
• 37:26
  there's a road you go down in Eureka, Missouri where
• 37:30
  there's every restaurant known to man every fast
• 37:33
  food restaurant and just every like middle anyway to
• 37:37
  there was a Burger King that closed recently and
• 37:41
  there was also a thing was called super smokers like a
• 37:44
  big chain of like what do you call like a smokehouse
• 37:48
  type restaurant that was really successful closed
• 37:51
  their doors and several other. I
• 37:54
  think right now think about this. What
• 37:56
  we're seeing right now. And I'm hearing red lobster.
• 38:00
  Remember we talked about red the
• 38:02
  big RL that's what Susie and I used to call red
• 38:05
  lobster is like is is facing bankruptcy. Right
• 38:09
  now people middle America can't afford we're seeing
• 38:14
  it right they're cutting back massively. They
• 38:18
  can't afford to go out and spend $100 to feed a
• 38:22
  family of four at a restaurant they can't even
• 38:25
  afford to. I heard yesterday, somebody
• 38:27
  talking about fast food prices have almost doubled
• 38:30
  in the last like three years McDonald's prices
• 38:34
  burger people can't afford this we are. I'm
• 38:37
  telling you. And I don't say this very
• 38:40
  often I don't make predictions and I definitely
• 38:42
  could be wrong, but I feel like right now we are on
• 38:46
  the precipice. Right this this this big slowdown
• 38:50
  this recession that was supposed to hit right
• 38:53
  people thought oh they predicted it in 2000. 2023
• 38:56
  never happened. Now everybody's like I don't
• 38:58
  think a recession is ever going to happen. Right
• 39:00
  the feds very I think we are right on the precipice
• 39:03
  right on the edge of hitting sometime in the
• 39:06
  next four to six months the reality that the
• 39:10
  economy slowing down my buddy Jim that builds big
• 39:12
  indoor are big in ground pools. He
• 39:15
  says whoa things have really slowed down. People
• 39:18
  that I know that are in the home improvement
• 39:20
  business right people aren't spending for grand to put
• 39:24
  gutter guards on their house people aren't spending
• 39:27
  25 grand to get a you know to get their kitchen
• 39:30
  updated people aren't spending 23 ,000 to get a
• 39:34
  bathroom remodeled things are slowing down. And
• 39:38
  man when it does look, we know we are we choose to
• 39:42
  protect ourselves with silver we choose to protect
• 39:45
  ourselves with gold oh man I forgot. Huh
• 39:48
  does anybody else feel it yes. Or
• 39:51
  am I wrong. Right. Did I forget northern
• 39:54
  California California gas is $7 per ounce Raven, our
• 39:59
  friend Raven is in Texas. And
• 40:01
  you guys are joining from all over the country. Thank
• 40:05
  you very, very, very much. Alright
• 40:08
  guys. Thank you for being here today
• 40:09
  have a great Sunday. I'll be back tomorrow. You
• 40:13
  are important be nice to yourself. Okay,
• 40:16
  that'll help us all be nice to our other people
• 40:18
  around us. Please support the sponsors if you
• 40:22
  choose right I'll never tell you what to do, but
• 40:24
  I will tell you what to do about this have a great
• 40:26
  day. Like I said, and I'll see you
• 40:28
  guys tomorrow.