Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 📣 WARNING 📣 SILVER Price Move FINISHED!... (Gold Price Too)

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📣 WARNING 📣 SILVER Price Move FINISHED!... (Gold Price Too) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
Will the silver and gold rally continue?
0:04
Are we in for a wonderful summer for the silver price and gold
0:07
price? We're going to cover that in
0:09
this video. Yesterday was a cruddy, some
0:12
might say crappy day, especially for silver.
0:15
We're going to talk about what happened and we're going to talk
0:17
about some very interesting developments that you need to
0:21
know about that will indicate to us that we could we could be in
0:26
for the summer of love when it comes to the silver price.
0:30
But talk about cruddy, the action and channel sponsor
0:34
Fortuna Silver stock this morning.
0:37
As you know, that's my biggest single personal stock investment
0:41
holding has been heartbreaking, but I have some news for you.
0:46
I talked with their director of investor relations, some
0:49
insights into what's going on. I'll tell you, and I'm not
0:53
giving financial advice at all, that, you know, mining stocks
0:57
are risky. I repeat that over and over.
1:00
But I was a few minutes late this morning because I was
1:02
buying some more Fortuna Silver stock for myself.
1:05
I'm not recommending you do that.
1:07
I'm just sharing with you my thoughts on what's going on
1:11
right now with the stock price, and we're going to cover that
1:14
later in this video. But first, let's talk about
1:16
yesterday. Gold, right?
1:19
Gold holding. Let's run out and take a look.
1:21
Let's get an up to the day quote, up-to-the-minute quote.
1:24
I think we might have some good news.
1:27
Let's refresh this and wow, gold $2347.79 up almost $20 per ounce
1:37
of silver up $0.14 per oz 2969. OK guys, that's good.
1:45
We'll take it, right? We'll take it.
1:47
If you bought yesterday, you bought on sale and hopefully you
1:51
considered Pinbex like I always recommend, right?
1:55
I'm not telling you what to do, but do yourself a favor.
1:58
If you're going to buy some gold, silver or platinum, check
2:01
out Pinbex. Compare what you can get from
2:03
them compared to the other online bullion dealers.
2:07
I had a talk this morning with the two brothers.
2:09
They're both Cpas that own the company.
2:13
And I got this really like really nice feeling later in our
2:16
talk as they started talking about their mission, which is
2:19
really like, you know, their stackers themselves.
2:22
They got into this business because they want to get as much
2:26
metal into the hands of the everyday person.
2:29
The best value, more metal for your money.
2:33
So if you're looking to buy some gold, silver, platinum, group
2:35
metals, do yourself a favor, check out Pendeks.
2:37
And if you ever consider converting part or all of an IRA
2:42
into precious metals, I think you'll be real impressed with
2:46
what they can do for you on that as well.
2:50
What caused it? Did you think about what caused
2:53
the big downdraft in silver? Got slaughtered yesterday,
2:57
right? Do you think do you think here's
2:59
a couple thoughts that I'm that I'm hearing from kind of my
3:02
inside sources. Big players may have been
3:05
driving down the price to exit their shorts.
3:07
We know what does it mean when we when we consider the fact
3:11
that Jamie Dimon was just over in China that the heads of the
3:15
four of the largest bullion banks paid personal visits to
3:20
the Shanghai Gold Exchange in the last six or seven weeks.
3:24
These big bullion banks are scared, but does it even make
3:28
you a little more excited when you consider that possibly that
3:33
move yesterday that beat down and it happened a lot of it in
3:36
the middle of the night, it's happening at two or three in the
3:39
morning now anyway that they may have had to even had gone
3:44
shorter, had sold even more short.
3:46
They may even be in more of a precarious position right now
3:52
than they were just three or four days ago.
3:54
This massive short position in the silver market, when people
3:58
short silver, that means they sell it.
4:01
But guess what? There's another side to that
4:03
coin Basement. Well, there's at some point they
4:06
have to buy it back. OK, Big developments going on
4:10
right now, guys, we're not. We're going to touch on this
4:13
briefly, but it's something that we need to keep on the radar
4:16
screen. There's a Big Bricks Summit
4:18
later this summer. We could get some massive news
4:22
about new monetary systems, new financial systems.
4:26
We know they're being developed. We're hearing right these, I
4:30
can't, I can't remember the Russians names, but these
4:32
Russian guys that are coming up with new shared bricks monetary
4:38
systems, gold backed can potentially silver backed
4:43
potentially. This could be a crazy summer.
4:46
Maybe it won't happen in June, but think about what could
4:49
happen in July and August of this year And there's it's it's
4:53
mind blowing. It's mind numbing to think about
4:56
all this major brick Summit guys.
4:59
The other thing that nobody's talking about here in the United
5:02
States is becoming extremely important to the silver and gold
5:06
market, but also really scary. Something we need to be very
5:09
scared of is the situation in Ukraine is not getting any
5:14
better. Now we've got the United States
5:17
and some of these European countries saying, yeah, it's OK
5:21
to use US fighter jets to attack targets inside Russia.
5:26
I'm hearing, like, the smartest guys in the room, and I don't
5:29
want to scare you, but we need to be aware of what's going on.
5:33
Talking about World War Three potentially, OK, Not a good
5:38
situation if they're using our weapons to attack inside Russia.
5:43
All political beliefs, all right or wrong, who's Putin or Biden,
5:48
whatever, doesn't matter. It's just the reality of the
5:51
situation that it's getting much, much scarier in that area.
5:54
I had a great viewer comment I want to share with you.
5:57
Simple. If you notice that as you get
5:59
older, sometimes the simple statements can mean so, so much.
6:04
And this one came on a comment, dude, here we go on the live
6:10
stream yesterday from our friend Pop and Pop Pop.
6:15
He says don't worry about the price.
6:17
Talking about the silver price yesterday.
6:20
Price is just what you pay, right?
6:23
Remember, we talk about that, guys.
6:25
Think about your silver. Think about your gold in terms
6:28
of Oz. I need to remind myself, like we
6:32
are brainwashed to think of silver and gold in terms of
6:35
dollars. Why not think of silver and gold
6:37
in terms of gallons of gasoline, barrels of oil?
6:42
How many, how many ounces of silver does it take to to pay an
6:46
electric bill on average during a month?
6:48
How many ounces of silver does it cost to buy groceries for a
6:52
month? We, we're so brainwashed, all of
6:55
us into thinking of it in terms of dollars.
6:58
And he says that price is what you pay.
7:00
Eventually it will explode when the public wakes up.
7:05
Most stackers don't even plan on selling.
7:09
Is that you? Right, that's me.
7:10
I have never wait for the end game.
7:13
Right. That's a tap.
7:15
What is that called? A hat tip to our friend Rafi
7:18
Farber from the end game investor.
7:21
Well, I don't know if he considers me a friend, but he's
7:23
been here in the basement before.
7:24
Most stackers aren't going to sell.
7:28
How simple was that statement that he made right, don't think
7:32
of silver, don't think of gold in terms of price right, how
7:36
many how many Unicorn I got AI got a crazy example for you
7:39
earlier about when it will make it very clear why you don't want
7:43
to think of silver in terms of price and it has to do with a
7:46
roller coaster. Think about roller coasters and
7:49
the roller coaster ride we've been on yes, at the end of this
7:52
video I will have a a lengthy ish discussion about what's
7:56
going on at Fortuna and my thoughts on that and why I
8:00
bought the stock. But none the less, don't think
8:02
of your silver in terms of price and most importantly, who's
8:07
going to sell right. I I have I've been 20 years I've
8:11
never so I can look you in the eye, my friends and tell you I
8:14
have never converted an ounce of silver back to this.
8:20
Let me let me pull one of these up.
8:22
Not the silver certificate this right.
8:24
Never ever, ever, and I don't ever plan on doing that.
8:28
I talk all the time about if you buy silver, if you buy gold and
8:32
coin shop, Chris. Oh, it makes them so upset that
8:34
this is key for you to understand if you're a silver
8:37
stacker, if you're new only by I I think of it as generational
8:42
wealth, right. I think when I convert some
8:44
paper into silver, I hope I never, ever get in a situation
8:48
where I'm forced to sell it right.
8:50
But in particular, what you don't want to do.
8:55
Don't go to your local coin shop.
8:56
Don't go to pin backs. The only time I tell you, don't
8:59
go to pin backs, right? If you're gonna buy silver or
9:01
gold and hold it for a long time, go to pin backs.
9:05
I'm telling you, you'll get more metal for your money.
9:08
But that's not the point. Don't go anywhere and buy metal
9:12
if you think you're going to need to convert it back into
9:15
Fiat. If you think you're going to
9:16
need to, to convert it back to pay an electric bill or a gas
9:20
bill or a college tuition bill, anything within I, I personally,
9:24
and again, I'm not giving you any financial advice.
9:26
I'm not telling you what stocks to buy, when to buy silver, when
9:29
to buy gold. I'm just sharing my ideas.
9:31
But I'll tell you, you know, for me, like I wouldn't buy any
9:36
metals if I thought there was a chance that within two years I
9:40
might have to convert it. It's not a get rich quick
9:42
scheme, especially with physical, because there's a
9:45
spread between what you buy it for and what you sell it for.
9:49
That's how the bullion dealers make money.
9:51
That's their business. If there wasn't a spread, there
9:54
wouldn't be any bullion available because they wouldn't
9:57
make any money. And why would anybody just just
9:59
trade bullion? OK, I digress.
10:02
OK, let's go on here. Let's talk about this is a great
10:04
article. This is gonna tell us what's
10:07
going on right now. And this came from FX Empire,
10:12
OK? They're going to go through
10:13
gold, silver and platinum quickly.
10:15
Gold pulled back yesterday, OK? Silver, The silver to gold ratio
10:20
or gold to silver ratio took off again.
10:23
Let's look at gold, OK? There's a chart of gold.
10:26
Do you see the upward trend since February, Right, February.
10:31
We got down to 2000. Wow, really.
10:33
Bounce strong, OK, it's still there guys.
10:36
It's still a bull market, all right.
10:39
Gold is losing ground amid broad sell off in precious metals
10:43
markets. Bulls need additional positive
10:45
catalyst to push gold prices above 2350.
10:49
The nearest support level for gold is around 2300.
10:54
All right, roughly a move below 23120 two 95 may trigger a sell
10:59
off. All right, look, let me just
11:03
tell you this right now, all right?
11:06
I'm not. I'm not always you, you, you
11:08
don't you just don't come here for fluff and good news, OK?
11:12
I think it's 5050 right now. Over the next two months, by the
11:16
end of the year, I believe my friend David, the veterinarian
11:20
from down in Florida said he thinks $50 silver by Christmas.
11:24
I said I agree with you. OK, people will say I'm crazy,
11:28
but I do think the next two months could prove to be choppy
11:33
for the metals prices. I think it's 5050.
11:35
I wrote this down right in the next like two weeks, two months,
11:39
we could be fighting through that $33 level.
11:43
If we get through it, it's clear sailing.
11:45
Or we could be in silver fighting to hold the $28.00
11:50
level. So look, I, I am, I am
11:52
confident, especially by the end of the year, by the end of the
11:55
year, the next six months, the brick stuff.
11:58
Think about all this, the bricks, crazy things going on
12:01
with the bricks. Nobody's talking about it.
12:03
We're going to talk about CBDCSA little bit here in a little
12:06
while. CBI mean it's in in crazy.
12:10
What's going on with Russia, China, I mean, what's going on
12:13
with the presidential election, right?
12:15
I heard somebody say this the other day.
12:17
This is not a political channel. They said you can either vote
12:21
for a convicted felon or you could vote for someone who
12:25
should be a convicted felon. Anyway, I digress.
12:28
There's a lot of diversiveness and, and and non agreement in
12:33
that area. Let's go to silver.
12:35
What does FX Empire say about silver?
12:37
Look at this chart guys and make sure I got us on the right
12:41
screen. Yes we do.
12:42
OK, look at this chart. OK, that's the 50 day moving
12:47
average, right? But just look at this again from
12:50
February $22.00. We are still in an uptrend in
12:54
silver. Yes, that big ugly red candle.
12:58
We survived that yesterday. The big ugly red candle back
13:01
here, we survived it. And then we went down a little
13:05
bit and we came back up. I, I just, I just, I just
13:10
believe, well, you know, based on all the available knowledge
13:17
out there, all the available information that the silver
13:20
price is gonna, I just, it's, it's hard for me to fathom it
13:24
getting back into the mid 20s. It could happen.
13:27
OK. Silver is under strong pressure
13:29
as the gold silver ratio rebounded toward the 80 level
13:33
again. That's the number of Oz of
13:35
silver it will take you to get one ounce of gold.
13:38
When silver drops, silver becomes less valuable relative
13:42
to gold. So it takes more ounces of
13:44
silver to get one ounce of gold. As of yesterday, it was close to
13:48
80. Yes.
13:49
That would mean that you would take four tubes of American
13:52
Silver Eagles and you could trade those four tubes for a one
13:55
ounce of gold. Even though for each one ounce
13:59
of gold that, that, that you're going to trade for, there's only
14:03
7 ounces of silver that are mined every year.
14:06
Silver's moving toward the 287529 level.
14:10
In case silver settles below 2875, it will then head toward
14:15
the next support at around 27302760.
14:20
OK, I, I think when I look at this chart, I'm worried.
14:25
I'm worried if silver gets below that 2928 level, OK, not, not,
14:30
not, we're not going to be like panicked or anything.
14:34
Again, you know what, who cares long term what I'm talking about
14:38
silver in terms of dollars. I just said we shouldn't do
14:40
that. Platinum.
14:44
Let's read about platinum quickly.
14:46
Platinum retreats as traders remain worried about the
14:48
strength of demand from China. A successful test of the nearest
14:52
support around 975 will open the way to the test of the next
14:56
support at 9:35 to 9:45 for a look at all.
15:01
OK, blah, blah, blah, enough of that.
15:02
All right, thank you to our friends at FX Empire for sharing
15:07
that awesome information with us.
15:08
Why I got more bad news? I'm just the bearer of bad news
15:11
today, and I don't think this is bad news, but I found it very
15:15
interesting. Let's go take a look at what's
15:17
going on at the Shanghai Gold Exchange.
15:20
In the Shanghai Futures Exchange, our friend the
15:22
Oriental Ghost gives us his daily report.
15:25
Silver on the Shanghai Gold Exchange, 3321.
15:30
Silver on the Shanghai Futures Exchange 3336.
15:35
This spread seems to have narrowed a bit.
15:38
It seemed like in recent days that it gotten as high as $5.
15:42
Now we're sitting around $4.00, the premium that's being paid in
15:46
China for silver. But still, This Is Us dollars.
15:50
This is what an ounce of silver cost on the physical exchange in
15:55
Shanghai, $33.21. And again, we know that the
16:02
Chinese are just devouring silver in industry.
16:06
These electric cars they make, it's crazy, right?
16:08
They're making these electric cars that they can sell for
16:11
$10,000. They all, they require massive
16:14
amounts of copper, large amounts of silver.
16:17
The demand for silver and gold from that area is only going to
16:20
go higher. Now I got something I didn't
16:22
even warn you about this something pretty weird about
16:28
silver and gold and something I think pretty funny.
16:31
Did you see this story? This is some crappy news, my
16:34
friends. OK, this story made headlines
16:38
yesterday and we're going to go to our friends at the Gold Star,
16:43
which is John Little the the Silver Academy.
16:46
This is the gold market.com sub stack Air India Express
16:52
stewardess arrested for smuggling a kilo of gold hidden
16:58
in her rectum. And I think that's what I think
17:02
it is. That would be 32 Troy oz.
17:06
So imagine a stack of 32 one ounce gold coins, if you will,
17:12
and where she had hidden them. OK, why do you think this
17:17
newsletter is called Gold Star? There's the airplane she was on.
17:22
An Air India Express flight attendant has been arrested in
17:24
Corolla of suspicion of attempting to smuggle nearly a
17:28
kilogram of gold hidden in her rectum.
17:31
Hey, I'm just reporting the news guys.
17:33
Sometimes it's a little crappy, if you know what I mean.
17:36
On a recent flight from Muscat, Oman, I'm wondering, I'm
17:41
wondering how this who the bullion dealer was that filled
17:44
this order and how they described their shipping
17:47
process. You know, I like the I like when
17:50
I order bullion online. I like when it comes nicely
17:52
packaged. But I would say this company has
17:56
an interesting shipping policy. Local media report that the 26
18:01
year old Surabi Khatan was nabbed by officers from India's
18:05
Whatever intelligent as part of a sting operation after the
18:09
young cabin crew member was identified as a possible gold
18:13
smuggler. OK, she was apprehended and a
18:17
search revealed that she had allegedly hidden 960 grams and
18:21
there's what, 30 grams to an ounce or 32 grams to an ounce of
18:25
gold compound in her rectum. Despite the risk of arrest, gold
18:31
smuggling is a big business in India.
18:33
Dubai remains the number one city from where gold is smuggled
18:37
into India. So a couple things here.
18:39
Number one, if you are going to buy gold on if you're going to
18:44
buy gold, make sure that you get a clear description of what the
18:48
shipping process will be. This obviously or for the our
18:53
friends and viewers in India. But the other big key take away
18:56
on this one is how valuable are precious metals.
19:01
That's what I was thinking as I was reading this, like somebody
19:03
was willing to take all that gold and stick it up into their
19:07
nether regions. I'm not gonna do that.
19:11
But how, what does that tell you about how valuable gold is,
19:15
right? Young people aren't sticking
19:18
crypto currencies up there. People aren't sticking wads of
19:22
paper money up there, right? But gold, I mean, doesn't that
19:26
tell us how valuable gold is that people are willing to take?
19:29
And I don't know if these were coins or not, but 31 oz coins
19:34
right here. Imagine this.
19:37
This is silver. Look at this.
19:40
These are our stackers from our friend Jim, the Scottsdale
19:43
stackers. But imagine this being like this
19:45
tall, maybe this tall and, and sticking it and it being gold
19:50
and sticking it somewhere just so you could smuggle it.
19:53
I mean, what does that tell us about how crazy the people in
19:57
India are about precious metals? And we're only talking 30 oz.
20:00
How many, how many trips do you think she took over the last
20:04
number of years? I don't know.
20:06
I'm going to have a drink of coffee.
20:13
And we've got breaking news from the US debt clock.
20:17
Let's go check that out right now, guys.
20:19
Something new that we haven't had for a while on the US debt
20:23
clock. We'll just do a quick This is
20:26
not what's new, But if we stood on here for just a little bit
20:29
longer, we're going to hit $35 trillion in national debt soon.
20:35
That's debt per taxpayer. That means if you pay taxes,
20:38
your share of the national debt is just a cool bit over
20:42
$250,000. If you don't pay taxes or per
20:48
citizen, it's 100,000 per person.
20:50
That's not the interesting thing that's going on.
20:54
Let's go down here. You know inflation will drive
20:57
the price of gold and silver like anything.
21:01
OK, Look at what's happening. The USM two money supply.
21:06
You see that where my yellow finger is, It's going up again,
21:11
guys. It had been going down, which
21:13
had only happened during other periods of depression.
21:16
Now, there's been so much monkey business with all this money,
21:19
electronic paper money that was printed, especially post C 19.
21:24
But we are back again to having the M2 money supply increasing.
21:28
That is inflationary and inflation, Well, it's gonna.
21:32
We've talked about this. That's the secret.
21:35
Inflation is going to take off again.
21:37
Inflation is going to go through the roof.
21:39
I wouldn't be shocked if we even hit a hyperinflationary period.
21:43
Do I think it's going to happen in the next six months?
21:46
No. Do I think it could happen in
21:47
the next two to three years? Yes, I do.
21:50
I would put it in about a 62.4% chance that we could have
21:54
inflation of like 2025% in this country, right, Because we have
21:58
so much debt in the in, in when we have this.
22:02
I have a strong prediction that before the election in this
22:06
country, we will have some type of economic turmoil that will
22:11
result in some type of money printing, monetary loosening by
22:16
the Fed and guys, when gold, gold and silver see that coming
22:21
and they'll see it coming before it actually happens.
22:24
We're gonna, we could see massive, massive moves up, but
22:27
that will also ignite a period of super high inflation.
22:32
Like I said, I think there's above 60% chance.
22:34
And in the next two years, we could have what a lot of us
22:37
could almost call a hyperinflationary environment.
22:40
It's at the same time that we have a stag, a stagnant economy.
22:45
That's stagflation, as you know. And boy, I did some interesting
22:48
research on this roller coaster deal that we're doing with
22:52
silver. We're going to talk about in a
22:53
little bit, but, and it has to do with the 1970s and the 1970s.
22:57
We had stagflation and we had silver go from like $1.50 all
23:03
the way to $50 per oz. That's not the big breaking news
23:07
though. Hold on here.
23:10
This, my friends, created a massive uproar in the silver and
23:14
gold community. The dollar to silver ratio had
23:18
been zero, right? And we had to explain over and
23:22
over. If you look at the top middle of
23:24
your screen, it tells you the dollar to silver ratio, which is
23:27
now at $153 per oz. OK.
23:33
That is the year over year increase in the M2 money supply
23:39
divided by the yearly world production of silver.
23:44
So that takes the US money growth, right?
23:47
The paper Unicorn for whatever you want to call it, it's based
23:50
on nothing. It's not a silver certificate
23:53
anymore. It's based on nothing, fathom
23:56
that, right? The quote UN quote currency,
23:58
money, whatever you want to call it is based on nothing.
24:02
The extent that it grows, right, Incrementally grows and you
24:06
divide that amount by the number of Oz of silver, that means $152
24:12
silver, OK, the five year average, an astounding 1500 per
24:19
oz, OK, The dollar to gold ratio, that's around about 1000
24:24
per oz right now, but very interesting.
24:27
That had been at zero. Again, this number over here
24:30
going up is very inflationary. the Fed has nothing they can do.
24:34
They are, they are in big trouble now.
24:37
There's a secret door on here somewhere.
24:39
I can't find it. Somebody needs to send me an
24:41
e-mail and tell me where the secret door went because there's
24:45
a a little secret door you can tap.
24:46
But I'm, I'm sorry, guys, I just, I can't find it, OK?
24:49
I have no idea where it is. OK, dollar silver ratio.
24:57
OK, let's talk about CBD CS. Remember CBD CS?
25:01
Remember bricks? A year ago, that was all the
25:03
rage. Central bank digital currencies
25:06
are coming. And now nobody's talking about
25:09
it, right? And certainly not in the
25:11
mainstream media. But that's how they'll control
25:13
us in the future. That's how they'll control
25:16
everything monetarily in the future.
25:19
And like 99.4% of the world's central banks are working on CBD
25:25
CS. Everything will be digital,
25:27
right? We don't, there's two, there's,
25:29
there's one reason why we don't like it, right, 'cause
25:32
everything will be trapped. Everything that you do and
25:34
you're probably like me. I don't do anything illegal.
25:36
I'm nothing to worry or, or, but I don't want the government to
25:40
be able to tell me where and when and how I can spend my
25:44
money, right? I like, I really like this kind
25:48
of money Here. Here's a, a Morgan silver dollar
25:52
from the 1800s, right? That's my favorite kind of
25:55
money. But even above that, the one
25:59
redeeming quality of paper money, of paper dollars is that
26:03
there's still a certain amount of privacy with it.
26:06
All privacy, everything you do will be tracked.
26:10
There'll be a, there'll be a, a record of everywhere you spent
26:13
all your money at all times. Is there something going on
26:17
though? And this is very interesting.
26:20
We're going to, we'll get into this more a little bit later,
26:23
but this comes from the International Business Times.
26:27
The House passes a bill blocking the US Central Bank from issuing
26:32
detrimental CBD CS OK, here we go.
26:39
HR 543 blocks the US Central bank from issuing a CBDC, is not
26:44
headed to the Senate. So did this actually pass?
26:48
Hold on here. This is this is breaking to me.
26:51
Rep McHenry said the US should know better than adopting a
26:54
policy that weaponizes the financial system against the
26:59
people. Representative Luderville
27:02
Ludermilk. That's it.
27:04
That is a that I think. Do you, what do you think?
27:06
Does that win the interesting last name of the day, Ludermilk
27:13
CBD CS were being used by authoritarian regimes and have
27:16
no place in the United States. Rep said central bank digital
27:20
currency was dangerous surveillance tool.
27:24
These are our representatives, right?
27:28
No government that are saying this.
27:30
The US House of Representatives has passed HR54-O3, which
27:35
prevents the Federal Reserve from issuing a quote UN quote
27:38
government controlled central bank digital currency.
27:41
What does this mean for silver and gold?
27:43
If a CBDC gets passed, you know, you lose all your privacy.
27:47
You know they're going to be able to surveil everything that
27:50
you do. But what does it do for gold if
27:56
it does get passed? If we do get a CBDC, which
27:59
honestly, guys, I think is probably more likely, although
28:03
our House of Representatives is doing their best here.
28:06
The The resolution passed on a narrow vote, but Republican
28:10
House members who voted yes hailed the victory as a
28:13
significant milestone toward the goal of barring the government
28:16
from spying on American citizens.
28:20
OK, very interesting development.
28:23
We're going to keep our eye on this, the bill.
28:26
Unelected bureaucrats. Interesting.
28:28
They say that right, the guy the the Federal Reserve is not part
28:33
of our government, the federal and Federal Reserve is no more
28:37
federal than federal and Federal Express that would threaten
28:43
Americans rights, financial privacy without explicit
28:47
authorization from Congress. OK, so interesting development
28:52
there. We're going to keep an eye on
28:54
that. Let's get back.
28:55
Let's all say hi. Thank you, all 600 of you, for
28:58
being here today. Let's all have a quick sip of
29:00
coffee. We got a lot more to cover.
29:02
And yes, I will talk for those of you who are interested in
29:05
Fortuna Silver Mines. I'll tell you my thoughts on
29:08
what's going on with Fortuna Silver Mines.
29:18
OK, A lot of hoopla. Are you hearing all this hoopla
29:21
about, about the banking system problem, banks.
29:25
Whoa, whoa, whoa, whoa. Let me back up the end point on
29:28
the CBDC thing, why it's good for you as a silver and gold
29:32
investor. Think about this.
29:35
Think about this right now. Right now, you have three
29:38
options when it comes to money, right?
29:40
You got electronic money, right? Your bank accounts, right?
29:44
Everything that's can pretty much be tracked, credit cards,
29:46
all that. Let's just call that electronic
29:49
money. You have cash #2 OK, that you
29:53
can't really be tracked, right? Cash, paper money, which we
29:56
don't like, but it does. It does allow for a certain
30:00
level of privacy. OK.
30:02
And finally, we've got our great friends, silver and gold.
30:05
So you have electronic money, paper money, cash, Unicorn,
30:09
fart, dust, whatever, and you also have silver and gold, real
30:14
money, God's money, the ultimate form, no counterparty risk, no
30:18
nothing, no promise, right? Actually has value.
30:21
If we move to a system, I'll call that a buy whatever,
30:26
bifurcated buy money system where all we have is electronic
30:31
money or gold and silver. OK, The cash is gone in the
30:36
middle. I'm telling you that middle
30:38
part, the cash, people that want that privacy are going to move
30:43
over to gold and silver. It could actually be a very good
30:47
right. That's the silver lining in the
30:49
CBDDC thing is that from a privacy perspective, as far as I
30:54
can see, I guess the crypto people would argue with that.
30:57
But that to me is electronic as well.
30:59
Sorry. It is right by its nature.
31:02
If you want any, any form of real hard money in a, in a, in a
31:09
CBDC world, the only option is gonna be silver and gold.
31:13
Am I right on that? And wouldn't that potentially
31:17
drive a massive influx of investors into the silver and
31:21
gold market? Think about it, right?
31:23
I know none of us will want the CBDC's.
31:25
I'm not in favor of it, but I do think there's a silver lining
31:28
that I don't hear anybody else talking about.
31:31
That's a little secret nugget you got today on Ron's basement.
31:33
When you're talking to your at your gold and silver club.
31:36
You can say, you know, CBDCSI don't like them, but if it comes
31:40
into fall effect, gold and silver will be the only real
31:44
form of money that will allow any, any fashion of privacy.
31:49
Think about it. OK, very interesting.
31:53
The banking crisis. We're going to touch on this
31:55
quickly, right 'cause that can right?
31:57
Financial crisis the next six months could have a major impact
32:01
on the metals markets and we're getting this news.
32:04
But is it is it as serious as everyone's talking about coin
32:09
shop? Chris sent me this one and my
32:12
friend Jay sent me the info about the about the US debt
32:17
clock. All right here we go.
32:20
Let's read that they they make this what?
32:24
OK Susie told me to ring the cowbell.
32:27
I will in one second. Higher interest rates have
32:29
created 63 problem banks. We're down here at the bottom,
32:34
guys, and 517 billion. I've got something hilarious.
32:39
We're that that that is going to make will make total sense to
32:42
you about what is going on in the banking sector.
32:44
There's the F Dick, OK, high interest rates continue to put
32:48
pressure on the US banking system.
32:50
The F Dick said that the US banking system has 63 problem
32:55
banks and is sitting on 517 billion in unrealized losses.
33:01
Upward pressure on mortgage rates has significantly hurt the
33:04
banking sector. More than a year after the
33:07
downfall of Silicon Valley Bank, higher interest rates are still
33:11
putting pressure on the banking system, blah, blah, blah, blah,
33:14
blah, blah. OK, so here's two takeaways on
33:17
this. All right, I I would warn you to
33:21
look, the banking sector is not healthy.
33:24
I'm going to say that right, right away, but there's a lot of
33:30
drama going on right now, people exaggerating, sensationalizing
33:36
these that the banks are going to collapse the bank.
33:39
These 63 banks in aggregate, when you add them all together
33:43
actually aren't that big. These are these are smaller
33:47
banks now. But what I want to point out,
33:49
OK, and then I want you to think about this.
33:51
When it comes to these banks, it's not just the small banks,
33:55
it's the big banks too. They all have this massive, they
33:59
all bought U.S. Treasury, long term U.S.
34:03
Treasuries with a lot of your money you put in the bank.
34:05
A lot of those treasuries 'cause they bought them when interest
34:08
rates were at 0 right, 345 years ago, the value of the treasuries
34:14
has collapsed down to like let's say $0.50 on the dollar, $0.60
34:18
on the dollar, Meaning that, that if they bought a 30 year
34:22
Treasury and they and it was $100,000, they paid $100,000 for
34:27
it three years ago and it pays 2% interest, It might only be
34:32
worth 55,000 or 60,000 right now.
34:34
But, but, but what's interesting is they don't have to realize
34:38
they don't have to, They don't that that's this loss that
34:41
they're talking about. But the banks don't have to,
34:42
like, report that loss on their books because they get to do
34:48
what's called upheld to maturity.
34:51
If they say, well, we're gonna hold it for the next 30 years
34:54
until it matures, and then we'll get all our money back.
34:57
We don't have to account for the fact that the value's down.
35:00
OK, It's Disneyland accounting. Remember that term, right?
35:05
It's make believe. I have a degree in accounting.
35:07
I know, right? Some, some of the it's it's
35:09
Disneyland. It's make believe accounting.
35:11
OK, now here's what I think is, is is is interesting.
35:15
I was, what if the shoe was on the other foot?
35:18
What if you as an individual who'd bought that bond three
35:21
years ago with $100,000 at 2% and now it's only worth $55,000.
35:28
What did, what do you say if you and I went to your bank and
35:30
said, hey, we want to borrow $100,000 from you and we want to
35:35
use this bond, this 2% thirty year bond is collateral.
35:40
What do you think they would say to you?
35:41
I can guarantee you what they'd say to you to say we're not
35:44
giving you 100,000 on that bond. It's only worth 50,000.
35:47
Are you crazy? You know when the shoes on the
35:50
other foot, it's so screwed up. I won't go on any deeper into
35:53
the banking sector, but the situation there really truly is
35:59
egregious at this point. No, absolutely.
36:02
No doubt about it. And here's a chart I want to
36:05
show you just to give you an idea.
36:07
This is from Charles Payne. I think he's the guy on Fox
36:10
Business. Problem bank list is moving in
36:13
the wrong direction. OK, These are the problem banks.
36:18
If you look at the assets is the gold part.
36:23
Yes, here we go. OK.
36:25
Back in O8O9, we had you know, massive numbers of of the banks,
36:33
right, the black line in the assets.
36:36
Now as you can see the total assets, it's not the banks, it's
36:40
not that high, but but it is growing.
36:45
That's the important thing and I think that's what Charles
36:47
pointed out in this as well. Do you think silver holds its
36:51
value? Let me ask you, you know,
36:55
Silver's a roller coaster ride, no doubt about it.
36:57
But do you think Silver holds its value?
37:00
Do you think over, you know, let's say since the, the mid the
37:04
70s, Silver held its value. Let's go, let's have some fun
37:08
and then we're going to talk about then we're going to talk
37:11
about Fortuna Silver. But I found this very
37:15
interesting. OK, those of you I'm a I'm a
37:18
roller coaster fanatic. The beast is the world's was the
37:21
world's longest biggest roller coaster.
37:23
It's in Cincinnati, OH, but very interesting fact about the beast
37:28
and and this has everything to do with silver.
37:31
Got me thinking there's the beast right there.
37:34
OK, The beast was built by the in house maintenance team at
37:39
this amusement park called Kings Island.
37:41
That's not the part about silver.
37:43
It's 45 years old. OK, so down in this article they
37:49
talk about somewhere here. Well, where the heck did it go?
37:54
I didn't have time to highlight things today, but this is the
37:59
world's best roller coaster. Hold on, hold on.
38:01
We're going to find it. Oh boy, here we go.
38:03
I found it. Here we go.
38:05
I'll highlight it. Now, what color you guys want?
38:10
How about orange? That's my favorite color.
38:13
And orange. Allow.
38:16
OK. The beast was designed and
38:19
constructed in house at Kings Island for approximately $3.5
38:23
million and according to them it would cost over $20 million if
38:29
it were built today. So I started thinking like what
38:33
year was it built? It was basically built in 1977
38:37
and 1978. So I went.
38:41
I thought I wondered what the silver price was back then and
38:43
how we can compare that to these cost numbers.
38:46
The roughly the silver price in 1978 was around $5 per oz.
38:52
OK Silver today compared to 1978 is 6 times higher right?
38:58
5 * 6 equals $30 per oz. The cost of the beast in 197877
39:06
was $3.5 million. If right we apply the that same
39:11
6 factor that the cost now would be about 6 times more, right, it
39:16
would cost of roughly $21 million.
39:20
So silver, not only is silver a roller coaster ride for those of
39:25
us who invest in silver, but silver is also a great way to
39:29
keep up with roller coaster inflation, right?
39:32
That 3.5 million that it cost to build back then would be 20
39:37
million now, and basically 3.5 million worth of silver in
39:41
197877 would be worth roughly 20 to 24 million U.S. dollars
39:48
today. They could have either built the
39:49
roller coaster or sat on a big pile of silver and built it
39:53
today, right? Silver keeps up with inflation.
39:55
We know that. OK, Look guys, I want to say
39:59
thank you to our other channel sponsor, first Mining Gold.
40:02
But let's talk about what's going on with Fortuna Silver
40:05
today. It's a company that sponsored my
40:08
channel since January of this year.
40:11
It's a stock that I've owned way prior to that I my biggest
40:15
single position. I know that today has been a
40:19
horrible day for those of you who maybe follow me because you
40:22
also own it or you follow the company, but today has been a,
40:26
for the stock price perspective, a very challenging day.
40:30
Let's go out and take a look. Excuse me at the latest of
40:36
what's going on with Fortuna. OK, looks like it's come back a
40:41
little bit earlier today, the stock was down almost 20%.
40:46
Looks like it got down to $4.82. But what happened?
40:50
OK, I read the press release this morning.
40:53
Let's go out to their press release and just look at the
40:55
headline real quick. Here we go.
41:00
Fortuna announces an offering of convertible senior notes.
41:05
So we won't read through this all in detail, but basically,
41:08
look, I have a degree in accounting.
41:10
I'm not giving financial advice. I'm just, I'm giving you my
41:14
opinion on what I've read. I did speak with someone at the
41:17
company and I can share with you.
41:20
I mean, they can't, I have no, no more knowledge than you do at
41:23
this point on what happened there.
41:25
But I can give you my, my thoughts and, and, and tell you
41:29
what they told me. And I think that this is an
41:32
overreaction, OK? This, this price drawdown that
41:36
we're seeing in Fortuna, because basically what they're doing is
41:40
issuing $150 million in debt, OK.
41:44
Now what they're doing though is they are replacing current debt
41:50
that they have with this new debt, but it's actually the new
41:54
debt. This is actually makes the
41:55
company as far as I see stronger because the new debt is at a
42:01
lower rate. They're kind of consolidating
42:04
debt. This may be a bad analogy, but
42:06
it's kind of like if if you as an individual had a, let's say
42:10
$50,000 in auto debt at 11% and you had a bunch of credit card
42:17
debt at 1520% and you had some other debt at high interest
42:22
rates and you consolidated it all into a into into like a home
42:28
equity loan at 8%, right? You still have the debt, right,
42:33
But you got you consolidated it, you lowered your interest rate
42:37
and that's essentially what I'm seeing with Fortuna.
42:40
But I want to point out as well, when it comes to Fortuna, this
42:43
company does not have a lot of debt.
42:48
Again, for those of you who are interested in Fortuna, let's go
42:52
out to let's go look at their financials real quickly.
42:57
I want to show you something. This company has a fortress
43:01
balance sheet. That's something that that the
43:04
company is proud of. And I can tell you as an
43:06
accountant is definitely the case when I go to their balance
43:11
sheet and I go to the quarterly numbers, OK.
43:18
As of March 31st, their most recent, they have assets of
43:22
almost $2 billion. They have total liabilities,
43:26
total debt, OK. So they have assets worth 2
43:29
billion and they have total debt of only a little over 600
43:33
million. And as you can see right, that
43:36
number has actually been going down, down, down.
43:39
Now if you, if we expand this and that means there's equity in
43:44
the company, the remaining amount that that's what the
43:47
shareholders have of 1.3 billion.
43:51
But if we look at their total liabilities and again, this is a
43:54
very healthy balance sheet, this is a very, this is like you as
43:59
an individual, you know, owning your house, having a good job,
44:05
generating a lot of cash, which is true of Fortuna as well.
44:09
And on top of that, you have a little bit of debt, right?
44:14
Let's say you have assets of $1,000,000.
44:17
Let's say you have assets of $2,000,000, but you have total
44:20
debt of 600,000. You would be in pretty good
44:23
shape. But if we expand their debt, we
44:28
can come down here and see, right?
44:31
Long term debt. This is this is most likely
44:37
right? Again, I'm just giving you my
44:38
opinions. The portion of the debt that
44:41
they are refinancing right now, they're not increasing their
44:44
debt, they're refinancing their debt.
44:47
And I don't think a lot of people really understand that,
44:50
OK? And they don't have a lot of
44:53
debt to begin with. Now look, I have access to no
44:56
more information than you do on this company, right?
45:00
Who knows? You know, I'm, I'm presuming
45:02
that their that their minds are continuing and every would not
45:06
receive news otherwise that that they're having problems in any
45:09
of their minds. I'm presuming that their minds
45:12
are continuing to do well. And when I look at this balance
45:14
sheet, it's a, it's, it's a very healthy balance sheet.
45:19
And that this move is something to basically refinance the debt.
45:23
Now there will be it's, it's, it's, that's, that's a, a broad
45:28
overview of what I see in this situation.
45:32
Some of this debt that they're refinancing was convertible debt
45:36
and some of it so then will be converted into stock.
45:39
So there will be a, a small amount, I think they said 3%
45:43
possible of dilution going on because of this.
45:47
But overall, this is makes the company stronger.
45:51
I heard somebody say this is like Black Friday for the stock
45:54
price. I did buy the stock right before
45:57
I came on. I was late, right?
45:58
I already own a ton of this stock.
46:00
Trust me, I eat my own cooking. Today is not a good day for My
46:05
Portfolio, right? But I did buy some additional
46:10
shares before I came on in Fortuna.
46:12
I think I paid like $5.04, right?
46:15
So you know those and it, but it's, it's, it's a stock that
46:20
I've owned for a long time. I still like the company, but
46:24
again, I'm not giving financial advice, never giving financial
46:28
advice. There's a few more things.
46:29
Oh, I've seen this happen before with Fortuna with other
46:34
companies, right. I've seen it happen with Equinox
46:36
Gold, the company that Ross Beatty runs.
46:39
I saw this happen. This reminds me of it's somewhat
46:44
similar to when Fortuna announced, gosh, it was probably
46:49
almost three years ago right now that they were buying rocks
46:52
gold, which is the West African mining company where they got
46:56
their mine in Burke, Burkina Faso, which just produced their
46:59
one millionth ounce of gold at the Burkina Faso mine where they
47:03
got their mine in in the in the Ivory Coast, the Seguela mine,
47:08
which has been like going blockbusters now for almost a
47:11
year. But when they first announced
47:13
that transaction, let me see if I can go back and show you what
47:17
happened to the stock price. OK, loading the chart.
47:28
Let's go back five years, right? That was boy, I don't know the
47:35
exact timing, so I don't want to say it probably was about right
47:40
here about three years ago, like I said, right, the stock really
47:45
went down, right? And this was during a very
47:47
difficult time in the mining sector, in the gold price sector
47:52
in general. But there was this initial like
47:55
sell off in the shares when they announced Rocks Gold.
47:58
The Rocks Gold acquisition now is viewed as like a brilliant
48:02
move by the company. So I don't know.
48:05
I'm not telling you what to do never will, right?
48:07
I'm not giving financial advice, but, but sometimes markets
48:13
overreact, right? I don't know, I don't have any
48:16
more information than you do regarding how you know, we're
48:20
almost, we're 2/3 of the way through the second quarter here.
48:23
How well the mines are, are producing, how great, you know,
48:27
mining is a risky business. Sometimes they over produce, you
48:31
know, over, you know, exceed expectations.
48:34
Sometimes they come in under, I don't know, all right.
48:37
But what I, what I do know is that on the surface, when I look
48:40
at this announcement, to me it is a restructuring of debt, of
48:46
debt that there's not a lot of to begin with.
48:48
And that's why I felt confident buying more of the stock.
48:55
OK, Now if you guys have any questions, you can, you can send
49:00
me an e-mail and let me know. I know it's painful, right?
49:04
It's just that just doesn't that to me, that just does not make
49:08
sense. This is a company.
49:10
The other thing I'll say about Fortuna is this.
49:12
They've been around for almost 20 years.
49:15
Jorge Canoza has grown the company from 1 mine to what, 5
49:19
producing mines now? They have Argentina, they have a
49:22
mine in Peru, they have a mine in Mexico, they have a mine in
49:25
Burkina Faso and they have a mine, obviously the Seguela
49:29
mine, which is again been doing great in the Ivory Coast in West
49:34
Africa. They've got this Diamba Sood
49:36
exploration project in Senegal in West Africa that's looking
49:41
very optimistic. They're having some really great
49:44
exploration success down in Mexico.
49:48
And that mind is like kind of scheduled to, to, to, to, to
49:52
cease operations at the end of the year.
49:54
But who knows, right? I think a $30 silver price and
49:58
some good exploration results, who knows, could kind of change
50:02
the complexion of that situation.
50:04
So I just wanted to let you know that that that that's my
50:10
perspective on what's going on with Fortuna.
50:15
You know, your, your, your, your perspective is in, in your due
50:19
diligence is just as important as mine.
50:21
So if you have any ideas you want to share them with me,
50:24
please feel free to do that. I appreciate you guys being here
50:27
today. Thank you.
50:28
OK, and thank you to our channel sponsors, right, Of course,
50:32
Fortuna Silver Mines, I still am very optimistic about the
50:37
company. I'm optimistic about first
50:38
mining gold, right, Two multi million ounce projects in Canada
50:42
and of course Pinbex. If you're looking to get some
50:45
silver or gold, check out Pinbex.
50:47
I think you'll like what you find.
50:49
Have a great day. Thank you.
50:51
OK. And I'll see you guys soon.