Latest / Financial Survival Network / Bullish Silver Signals: Next Big Move? - Michael Arries #6330

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Bullish Silver Signals: Next Big Move? - Michael Arries #6330 · Financial Survival Network

• 0:00
  Speaker 1: And we see premiums on that right now. So you're
• 0:02
  Speaker 1: talking about forty percent, We'll sell ninety percent silver right
• 0:04
  Speaker 1: now because it's also below spot on the wholesale market
• 0:08
  Speaker 1: where we can get it. So it's as cheap as
• 0:09
  Speaker 1: you can buy silver versus anything else, even just modern
• 0:12
  Speaker 1: rounds and bars. And there are times when it does
• 0:15
  Speaker 1: have a high premium, so like after COVID there was
• 0:18
  Speaker 1: such a high demand for silver and such a shortage
• 0:20
  Speaker 1: of supply on the market that we were getting twenty
• 0:22
  Speaker 1: to thirty percent premiums for the ninety percent. So if
• 0:25
  Speaker 1: it's dirt cheap like right now, buy it.
• 0:27
  Speaker 2: You are listening to Carrie Let's's Financial Survival Network where
• 0:31
  Speaker 2: you get valuable information you just can't find anywhere else
• 0:35
  Speaker 2: to thrive in today's trying times. You need the Financial
• 0:39
  Speaker 2: Survival Network now more than ever. Go to Financial Survivalnetwork
• 0:44
  Speaker 2: dot com and get your free newsletter and gift. Financial
• 0:48
  Speaker 2: Survival Network now more than.
• 0:51
  Speaker 3: Ever, and welcome you are listening to and watching the
• 0:58
  Speaker 3: Financial Survival Network. I'm your host, Carrie Lets and Michael
• 1:03
  Speaker 3: Harry is with us now. You find them at Mchaelvanny
• 1:07
  Speaker 3: Precious Metals and Michael yes, We've been having this conversation
• 1:14
  Speaker 3: for a while, saying that things like silver is a
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  Speaker 3: coiled spring or a jack in the box, and it's
• 1:21
  Speaker 3: going to pop. And I've been saying this for years
• 1:25
  Speaker 3: and years because we're dealing with a sixty year plus
• 1:28
  Speaker 3: pattern of suppression and silver.
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  Speaker 4: Some would argue it goes back.
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  Speaker 3: Even to the late eighteen hundreds, the demonetization of silver
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  Speaker 3: in terms of the silver gold standard.
• 1:42
  Speaker 4: I'm not going to be so out there, but i
• 1:45
  Speaker 4: will tell you.
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  Speaker 3: I remember in nineteen sixty five, I was a little kid,
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  Speaker 3: my brother coming in the kitchen and dropping the new
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  Speaker 3: quarters as we call them affectionately in our community, slugs,
• 1:59
  Speaker 3: and then the old ones. And mind you, I'm seven
• 2:02
  Speaker 3: years old, eight years old. Here it drops the old
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  Speaker 3: silver ones, the ninety percent, and they like rang out,
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  Speaker 3: and the slugs just were like this dead thump on
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  Speaker 3: the floor.
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  Speaker 4: And I didn't know that he was educating me.
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  Speaker 3: He didn't educate himself, but he was kind enough to
• 2:19
  Speaker 3: educate me about what real money was.
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  Speaker 4: And here we are.
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  Speaker 3: Silver is going to be any day now, probably put
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  Speaker 3: on the US government's critical Minerals list. It's trading now
• 2:32
  Speaker 3: closed last Friday, at forty three bucks. Now it's hair's
• 2:37
  Speaker 3: breadth from forty four. The circles I travel in, they're
• 2:42
  Speaker 3: saying fifty and then one hundred. Martin Armstrong said, fifty.
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  Speaker 3: No problems, seventy five. I see triple digits. I don't
• 2:50
  Speaker 3: want to see it happen in three weeks because that's
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  Speaker 3: a parabolic move that isn't sustainable.
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  Speaker 4: But over the next six months, what are you seeing.
• 2:58
  Speaker 1: Well, that's a good point, Carrie. Yeah, thanks for having
• 3:00
  Speaker 1: me out again. I appreciate being here. I know I've
• 3:03
  Speaker 1: read your articles, gosh, going back more than ten years,
• 3:05
  Speaker 1: maybe when I first heard about you.
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  Speaker 3: In so you're you're really scaring the hell out of
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  Speaker 3: me now ten years.
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  Speaker 1: But but yeah, you've been sounding the alarm for a
• 3:14
  Speaker 1: while and it's it's happened, and you know, we have
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  Speaker 1: a mclvany too, and it's happened in the way we've
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  Speaker 1: you know, thought it would. It's just going to know
• 3:22
  Speaker 1: exactly when it would happen. But at this point, you know, gosh,
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  Speaker 1: when I first came on your show, whenever it was
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  Speaker 1: a year or two ago, we were probably at you know,
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  Speaker 1: twenty eight thirty dollars silver Now We're at forty three
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  Speaker 1: dollars silver, and that's a big move percentage wise, but
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  Speaker 1: I think from here, I think from here we're heading
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  Speaker 1: beyond fifty. And so this is one of those things
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  Speaker 1: where every year, the last number of years, there's someone
• 3:43
  Speaker 1: has been saying, we're going to get to fifty dollars
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  Speaker 1: silver by the end of the year, and I always
• 3:47
  Speaker 1: been like, probably, probably not this year. The technicals have
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  Speaker 1: a long way to go. We've got we've got to
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  Speaker 1: really push through some resistance levels. Now we're at a
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  Speaker 1: point where you probably could reasonably say we're going to
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  Speaker 1: be at fifty by the end of the year. I mean,
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  Speaker 1: now that we're past thirty five it was a big ceiling.
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  Speaker 1: Now that we're past forty, which is a big psychological level,
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  Speaker 1: and it's moving up pretty quick, you know, sometimes a
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  Speaker 1: dollar a day. Yeah, we could actually get to fifty
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  Speaker 1: at this point. And the momentum behind this is so
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  Speaker 1: strong that I don't think we're going to give a
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  Speaker 1: lot of resistance. I have clients calling me saying, oh,
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  Speaker 1: it's going to have a big drop again, let me
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  Speaker 1: sell before that happens, And I'm like, not this time.
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  Speaker 1: Probably we're probably going to blow through fifty without much
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  Speaker 1: of a hiccup and set a big new high because gold.
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  Speaker 1: Here's the thing I'm telling folks. Gold is well beyond
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  Speaker 1: it's twenty eleven highs. You know, it got to nineteen
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  Speaker 1: hundred and change back in twenty eleven. It is pushed
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  Speaker 1: well beyond it's twenty eleven highs and set a new high.
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  Speaker 1: Silver it's not just going to stop it it's twenty
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  Speaker 1: eleven high at fifty, it's gonna go well beyond because
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  Speaker 1: it'll catch up the gold gold. Silver always does the
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  Speaker 1: same thing as gold does. It's not going to get
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  Speaker 1: left behind. It would be the first time ever if
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  Speaker 1: it didn't. So it's gonna go well beyond it's twenty
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  Speaker 1: eleven high, maybe go to sixty or eighty from here
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  Speaker 1: before having any meaningful pause or correction. It's still go
• 4:58
  Speaker 1: way higher than that.
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  Speaker 4: I agree with you.
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  Speaker 1: It'll go to trip digits ultimately. But next yeah, we
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  Speaker 1: see fifty by the end of the year, no problem,
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  Speaker 1: and then the next year if it sets a big
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  Speaker 1: new high like gold has no problem. That's just that's
• 5:09
  Speaker 1: what the price start is telling us that it's going
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  Speaker 1: to do. We just have to pay attention and just.
• 5:13
  Speaker 4: A little anecdote.
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  Speaker 3: A month ago, I was just buying up forty percent
• 5:19
  Speaker 3: to Kennedy's below mill value on eBay, and it was
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  Speaker 3: like I'd look after Friday, after the close when it
• 5:29
  Speaker 3: went up big, and look for people that had existing
• 5:32
  Speaker 3: listings on there. It's problematical sometimes with the eBay's rules
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  Speaker 3: to actually change your price in the middle of an auction,
• 5:45
  Speaker 3: so they try to get there's other techniques that he's best,
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  Speaker 3: best off or whatever. But I was buying it's sometimes
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  Speaker 3: five and ten cents below. And I talked to some
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  Speaker 3: so called metals expert. He is an expert, but he's
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  Speaker 3: not really a market expert. He's an expert in product,
• 6:03
  Speaker 3: but not market and he said, oh, forty percent is garbage.
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  Speaker 3: Nobody wants it, it's too hard to refine, and blah
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  Speaker 3: blah blah. And I said, name withheld by you out
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  Speaker 3: of respect for him, because I don't want to say
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  Speaker 3: anything negative about him.
• 6:17
  Speaker 4: I said, hey, man.
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  Speaker 3: Do you really think silver is not going to go
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  Speaker 3: into shortage? We're in deficit now and I said, yeah, yeah,
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  Speaker 3: I think so. I said, well, what happened the last
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  Speaker 3: time silver went into deficit? To those forty percent Kennedys,
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  Speaker 3: they were trading below melt, and then afterwards they're trading
• 6:35
  Speaker 3: fifteen to twenty percent above melt. And I still have
• 6:39
  Speaker 3: one thousand dollars bag of them that I bought in
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  Speaker 3: like two thousand and nine when silver was eight dollars
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  Speaker 3: an ounce. And for stuff that's totally undesirable, it's worth
• 6:53
  Speaker 3: a lot of money right now. And don't you think
• 6:55
  Speaker 3: that's going to happen again? No, no, oh yeah, yeah.
• 6:58
  Speaker 1: If we get to one hundred dollars over, someone will
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  Speaker 1: melt down your forty percent. It's not going to be John,
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  Speaker 1: you know.
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  Speaker 4: It'll be two.
• 7:05
  Speaker 3: You'll take a two or three percent HAIRCUTA. Yeah, it's
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  Speaker 3: a going to trade over milt.
• 7:12
  Speaker 1: And we and we see premiums on that right now.
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  Speaker 1: So you're talking about forty percent, Well, we'll sell ninety
• 7:17
  Speaker 1: percent silver right now because it's also below spot on
• 7:20
  Speaker 1: the wholesale market where we can get it. So it's
• 7:22
  Speaker 1: as cheap as you can buy silver versus anything else,
• 7:25
  Speaker 1: even just modern rounds and bars. And there are times
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  Speaker 1: when it does have a high premium. So like after COVID,
• 7:31
  Speaker 1: there was such a high demand for silver and such
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  Speaker 1: a shortage of supply on the market that we were
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  Speaker 1: getting twenty to thirty percent premiums for the ninety percent.
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  Speaker 1: So if it's dirt cheap like right now, buy it.
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  Speaker 1: If it's just silver, that goes.
• 7:42
  Speaker 4: Up, great.
• 7:43
  Speaker 1: If we get a premium because of the supply and
• 7:45
  Speaker 1: demand and you get extra twenty percent, even better, and
• 7:48
  Speaker 1: then you can turn that into more ounces of bars
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  Speaker 1: or just extra cash. So yeah, absolutely buy up that
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  Speaker 1: cheap stuff.
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  Speaker 4: Now.
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  Speaker 1: Why you can whatever has a low premium right now
• 7:57
  Speaker 1: because price is not waiting for us. Our price is
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  Speaker 1: going to keep heading high and.
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  Speaker 3: You can't buy it under melt on eBay anymore. That
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  Speaker 3: lab that's always an anomalist thing that tells me that
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  Speaker 3: the price is going higher, you know. And we still
• 8:12
  Speaker 3: have lots of room for compaction, contraction compaction of the
• 8:18
  Speaker 3: goal to silver ratio, which is still historically you know,
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  Speaker 3: when it hit one hundred and eight, like that was
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  Speaker 3: the moment. And look, I said this, and I actually
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  Speaker 3: have an article. You can check all my archives. Everything
• 8:32
  Speaker 3: I say, I don't just say it, you can look
• 8:35
  Speaker 3: at it. But on my sub stack, I think it
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  Speaker 3: was around May twenty something silver hit thirty two bucks.
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  Speaker 3: I said, this is the moment it broke thirty two
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  Speaker 3: fifty technical resistance. It's going byer buy. You know, I'm buying.
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  Speaker 3: I don't tell people what to do. I'm not a
• 8:53
  Speaker 3: financial advisor, but even if I was, I wouldn't pretend
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  Speaker 3: to say that I know everything. Point is when you
• 9:01
  Speaker 3: see a chart like you see for silver, and what's
• 9:05
  Speaker 3: been happening here, Yeah, you.
• 9:07
  Speaker 1: Know, oh yeah, this is this is crazy. Yeah and
• 9:10
  Speaker 1: this yeah, this is this is going to go this
• 9:12
  Speaker 1: time for sure, Like just the technical price chart, like
• 9:15
  Speaker 1: you're saying, when you look at it, we've got resistance
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  Speaker 1: levels from you know, twenty twelve that we broke through
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  Speaker 1: back in June, you know, once it got through kind
• 9:22
  Speaker 1: of the thirty six thirty seven area. You know, we
• 9:25
  Speaker 1: have momentum from different newsletters like Michael Oliver's letter newsletter
• 9:29
  Speaker 1: that we're blowing through. We're making these bullflags on the
• 9:32
  Speaker 1: price chart and they're going up above that and it
• 9:34
  Speaker 1: keeps pushing higher. I mean, this is this is just
• 9:37
  Speaker 1: a breakout acceleration trend by any technical definition. It's just
• 9:41
  Speaker 1: classic textbook and it's not topping, it's not too high.
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  Speaker 1: This is not what you know the end of a
• 9:47
  Speaker 1: bull market looks like. This is what the beginning of
• 9:49
  Speaker 1: a bull market looks like. And it's you know, price
• 9:51
  Speaker 1: is telling us it's going higher and it's just making
• 9:53
  Speaker 1: a nice clean pattern, has a huge basing pattern here
• 9:56
  Speaker 1: from the last three four years that it can launch
• 9:59
  Speaker 1: off of huge cup and handle pattern going all the
• 10:02
  Speaker 1: way back to the previous size that can take it
• 10:04
  Speaker 1: much higher. I mean, everything looks so good for silver,
• 10:07
  Speaker 1: you'd be crazy not to buy it, even even while
• 10:09
  Speaker 1: it's shooting up higher, even you know, you know it's
• 10:11
  Speaker 1: forty one now it's just the other day. Now it's
• 10:14
  Speaker 1: forty three, and it's like, just don't wait for it,
• 10:16
  Speaker 1: because it's not going to matter. It's not going to
• 10:18
  Speaker 1: matter at this point when it's seventy or eighty.
• 10:20
  Speaker 4: Yep. Exactly. Could not agree with you more here.
• 10:24
  Speaker 3: And I assume your business so over there at Micelvany
• 10:27
  Speaker 3: is doing really well.
• 10:29
  Speaker 4: Yep, yep.
• 10:29
  Speaker 1: A lot of people have fomo they waited too long,
• 10:32
  Speaker 1: and now now they're wanted to not miss out anymore.
• 10:34
  Speaker 1: And other people, other people that know and have benefited
• 10:37
  Speaker 1: and are up fifty percent and they're wanting to add
• 10:39
  Speaker 1: more because why not. It's the one thing that's going
• 10:41
  Speaker 1: to do well.
• 10:42
  Speaker 3: So could not agree with you more. I mean, it's
• 10:45
  Speaker 3: just there's inevitability to it. And really there's just nothing
• 10:52
  Speaker 3: out there that I don't see anything that's going to
• 10:55
  Speaker 3: stop it.
• 10:56
  Speaker 1: Do you No, No, not really. I mean it's it's
• 10:59
  Speaker 1: big shift that are taking place that are driving this.
• 11:03
  Speaker 1: So it's not gonna not going to turn around, not
• 11:05
  Speaker 1: going to stop anytime soon. But yeah, nothing that's going
• 11:08
  Speaker 1: to stop. I mean, really, Carrie, we would have to
• 11:10
  Speaker 1: have we would have to have a whole new Congress,
• 11:13
  Speaker 1: whole new government and they're going to balance the budget
• 11:15
  Speaker 1: and stop spending as much and not printing money there
• 11:18
  Speaker 1: and it's like that's not going to happen, you know,
• 11:20
  Speaker 1: they would we'd have to go through a major depression
• 11:23
  Speaker 1: to even get out of the you know, the environment
• 11:26
  Speaker 1: we're in of being used to all the money printing
• 11:29
  Speaker 1: and easy credit, like you know, we we would have
• 11:31
  Speaker 1: to go through the withdrawals as a country from all
• 11:35
  Speaker 1: the easy money. Like no one's going to do that.
• 11:37
  Speaker 1: So we're not in any kind of position where metals
• 11:40
  Speaker 1: are going to go down anytime soon. All all we're
• 11:42
  Speaker 1: going to do is keep printing money and they're going
• 11:44
  Speaker 1: to keep going up.
• 11:46
  Speaker 4: Yeah.
• 11:46
  Speaker 3: I don't see how it happens either, you know, it
• 11:48
  Speaker 3: just don't because you know, we were stuck in this
• 11:52
  Speaker 3: proflicacy and nobody wants to do anything about it, right exactly.
• 11:58
  Speaker 4: Yeah, no one else.
• 11:59
  Speaker 3: To do anything. So that's really a problem. That's the problem, right, yep.
• 12:05
  Speaker 1: Yeah, you can't, I mean anyone in the government right now.
• 12:08
  Speaker 1: They have they have expensive elections they have to go through.
• 12:12
  Speaker 1: They have big corporate donors that are help paying for that.
• 12:15
  Speaker 1: They're they're not gonna they're not gonna be like, yeah,
• 12:17
  Speaker 1: let's balance the budget and go into a recession. They're
• 12:19
  Speaker 1: just they're not going to do that. No one has
• 12:21
  Speaker 1: the political will. There's a handful of maybe really conservative
• 12:24
  Speaker 1: folks in Congress, like the Freedom Caucus, but they don't
• 12:27
  Speaker 1: they don't have enough. There's not enough of them to
• 12:30
  Speaker 1: actually do that. And there's not enough political will with
• 12:33
  Speaker 1: the rest of our government to actually make the hard
• 12:36
  Speaker 1: choice go through the hard times now before things get
• 12:39
  Speaker 1: even worse and worse and get on the right track.
• 12:42
  Speaker 1: And they're just we're going to keep inflating the bubble
• 12:44
  Speaker 1: until it pops on us, and we have no choice yeah.
• 12:47
  Speaker 4: I mean, that's really what it comes down to, isn't it.
• 12:49
  Speaker 1: Huh Yeah, yeah, So there's no no chance gold and
• 12:52
  Speaker 1: silver are going to have a major drought, like virtually
• 12:55
  Speaker 1: no chance. It's it's not going to happen.
• 12:59
  Speaker 4: Yeah, greed.
• 13:00
  Speaker 3: All right, So another important question, Michael, where we find you?
• 13:04
  Speaker 3: How do we connect with you on the web.
• 13:06
  Speaker 1: Well, I've got my website here. If anyone can see
• 13:09
  Speaker 1: the video. If not, go to mcelvany dot com forward
• 13:12
  Speaker 1: slash Michael McElvaney mc A l v A n Y.
• 13:17
  Speaker 1: Folks can call me to at nine seven zero four
• 13:20
  Speaker 1: five nine four six one one. I can call our
• 13:23
  Speaker 1: text directly nine seven zero four five nine four six
• 13:27
  Speaker 1: one one, and I'll be happy to advise on just
• 13:30
  Speaker 1: how to tailor precious metals portfolio for your own needs
• 13:33
  Speaker 1: and goals.
• 13:34
  Speaker 3: So all right, well we appreciate you coming on. Any
• 13:37
  Speaker 3: questions comments for Michael, just shoot us an email kl
• 13:41
  Speaker 3: at Kerrie Leuts dot com. We're using substack now. I
• 13:44
  Speaker 3: sent out a little announcement about it. It's just maintaining
• 13:50
  Speaker 3: a website. It's just not where it's at anymore. Substack
• 13:54
  Speaker 3: handles everything your video, your audio, your mailing lists. Everything
• 13:59
  Speaker 3: is there and I swear by it. Hey, great talking
• 14:03
  Speaker 3: to you, Michael. We will talk to you again real soon.
• 14:05
  Speaker 1: All right, Thanks Gerry, appreciate it. You have a good one.
• 14:07
  Speaker 2: Thanks for listening to Carrie Lenz's Financial Survival Network, your
• 14:11
  Speaker 2: solution to today's trying times. For the latest, go to
• 14:15
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than ever,