Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / ⚡SILVER Investor⚡- YOU Must Hear THIS! - (MASSIVE Alert & Price Update for Gold and Silver) John Lee

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⚡SILVER Investor⚡- YOU Must Hear THIS! - (MASSIVE Alert & Price Update for Gold and Silver) John Lee · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  Today we have a very special guest, John Lee.
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  He's the CEO of Silver Elephant Mining and Clean Tech Vanadium,
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  but he has a deep understanding and keen insights into what is
• 0:13
  going on in the precious metal sector.
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  We're going to focus more on silver today.
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  John, welcome to Ron's basement. Going to be back, Ron.
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  Yeah, a lot going on since we last talked, John, on a
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  geopolitical level, on an economic level.
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  What do you make of the kind of the big picture right now that
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  the silver and gold market are experiencing?
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  Ron, I recall when I came to the show last time with you maybe
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  about six months ago, silver, I think it's in the 50s or 40s or
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  50s. And we reminisced and both
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  collectively sort of come to the conclusion that the fair that
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  the next target for silver is 75 and on on A and that's on a
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  linear scale and then loss scale based on the cup and handle
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  formation, it could be 120 to 150.
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  And sure enough, we, we breached the 75 level with ease and then
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  went all the way right up to close to 120.
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  We also talked about Ron last time that the way of, of
• 1:13
  observing A potentially a top in place and, and that the cartels
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  will sometimes help fuel the market to try to exhaust all the
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  buying. I mean, obviously if the prices
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  are higher than the purchasing power gets eroded.
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  And it's my belief that when we saw in February, the price went
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  from about 1:20 to, to, to, to to $75.00 in a span of three
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  days. A lot of when, when, when silver
• 1:40
  went up over $100, it, it, it looked to me that, that the, the
• 1:45
  buying from, from a hunt from, from from 90s to 120 was almost
• 1:49
  entirely the worst of the cartel and try to create that FOMO.
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  It's kind of like when you go to the night market, right?
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  What I mean by that is So what, when the day come, the cartel
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  started smashing. You saw what I literally saw
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  that day. I remember very clearly that I
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  went from 1:20 to 1:10, 110 to 100 to the 90s.
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  And I thought, oh, maybe we should double into it.
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  And they're saying, you know, just wait for half an hour.
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  You don't want to catch it full of night.
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  And then went all the way to the 80s and, and I think the closest
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  to the 80s that day and then following day got hammered again
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  down to low 70s. It's kind of kind of bit of like
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  a FOMO or the Chinese night market, right?
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  They, they, they advertised say a Lantern at, at, at 120.
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  And and then you thought, you thought like you can get a that
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  is a bargain at 90 and it went to 70s.
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  Therefore, I wouldn't necessarily get caught up in
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  thinking that, well, silver at 90 is a good deal.
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  We should reply because yesterday was 120 and I think a
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  lot of people have suckered into that.
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  And unfortunately, there's a lot of casualties and people that
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  actually ended up in the red a silver box because because of
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  Phobos, the fair. Well, there's really not a fair
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  value for silver because, because, because it's matching
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  Fiat, which is intrinsically worth nothing.
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  So you can make a case for a thousand 2500.
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  However, a a great rule of thumb that I use is as I started in
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  2000 when I started buying silver when silver was $2.50 and
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  the silver eagle was was under $5.
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  Is that a a silver coin ought to be able to afford you a decent
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  three meals for the day. Like you can she be able to get
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  by for the day. That is a bit of a sort of just
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  the natural equilibrium of relative sort of just relative
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  sort of valuation in terms of being US money.
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  And that's come from that's come from hundreds, hundreds of years
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  ago when if you watch Chinese Kung Fu movie on YouTube and
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  they play Kung Fu, they would go to a meal and then they would
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  take a little ink not and and place on the table for food.
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  And that's kind of like the size of a coin, right?
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  And you have wine, you have chicken and you have everything.
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  So, so, so therefore $75 is just not far off from where we kind
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  of our assuming there's not a froth in the market is sure
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  enough. I mean, with the war happening,
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  there's really not a nothing's frothy right now.
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  If you look at the commodity complex across the board like a
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  grains and natural gas and oil was 60 not so long ago.
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  I prophesized that the silver and oil is going to meet two
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  months ago with my with my with my audience internally before
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  silver takes out another leg. And sure enough, now oil has
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  come back over silver again. So I, I think that $75 silver is
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  not overvalued. And they look at the gold to
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  silver ratio, you know, I think it touched on a 60 close to 60
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  and or in the 40s. And now it's, it's, it's back to
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  around the low 60s. So as I mentioned to you before
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  that in the modern days, that ratio hovers around 70.
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  And one last point on silver is that it runs just there's a lot
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  of chance of thoughts is price action is all about collective
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  human behavior. So if you were to measure, if
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  you were to if you were to overlap, which is which I
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  started doing just a week ago. If we just start to overlap the
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  price action of silver's price action of today from February to
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  May of 2011 when silver topped at $50 and what has happened
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  since then? If we just, if you just go, go
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  go sort of scan it through kind of like a kind of like a CAT
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  scan and you stack them side by side lining the May of 2011.
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  And I'm, I'm going to put up the charts on my Twitter later
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  today. So lining the 2011, lining the
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  May 2011 silver top at 50 to the February silver top at 1:20.
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  And then what has happened since then?
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  The pattern is almost identical. And silver went from 50 to 33,
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  bounced back to the 40s and back down and, and, and then started
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  oscillating. Just to give you sort of the
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  summary on that is, is that right now, if we're based on the
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  pattern of of 20 and, and interestedly, gold and the
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  dollar also follows a very similar pattern back then to,
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  you know, versus today. And so let me give you a summary
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  of, you know, what is to come from that obviously with the
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  curious and exquisitely wants to know.
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  OK, John, So it's winding up. So what what is the 2011 term
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  tells you what's how can happen from now if the 2011 chart plays
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  out, the dollar is going to top within the next few days, maybe
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  today because the Fed is due to announce the Fed interest rates.
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  So a lot of people are buying on the rumor will be selling on
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  news in that it'll be a hawkish stand.
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  But would state interest rates stay put if Australia were to
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  start hiking interest rates? So we're embarking on interest
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  rate hiking cycle. So so the news is a lot of
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  factor A. So if if the 2011 pattern is
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  being followed is to be followed today and we can, we can, we can
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  go back to maybe three or six months from now when I come back
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  to your program. So this is my prediction.
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  Just be a friend instead of having to divest digest through
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  an entire interview is that the dollar is going to top of the
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  next few days. Gold is also going to bottom in
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  the next few days and silver is going to bottom as well within
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  it within the next within the next 5 days.
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  However, silver is going to be consolidating at 62 and 95
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  dollar level again, if we go back to what has happened back
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  in 2011. And then gold is going to gold
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  eventually is going to be steadily go up and down start to
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  take out the five, five, $5200 dollar level to approaching on
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  6000. So that means that gold to
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  silver ratio is going to start to ascend one more time.
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  And we can, we can, we can see a lot of reason.
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  I think gold is not going to have a crazy action because of
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  the certainties, the draining of the liquidity and also the Geo
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  policy search. It's not a liquidity around.
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  So there's not a lot of leverage you need to double down on gold
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  and silver is going to be hovering at this level for the
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  remaining of the year before actually breaking down based on
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  the 2011 guidance. And part of that is just done a
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  lot of speculative capital around and entice uncertainty
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  and and war. Gold usually prevails and it's
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  only when when there is greed that silver for him prevails.
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  So then and then if you look at sort of not sort of not get
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  suffered into all this counter rallies in a bear market, at
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  least in the interim, you sure don't want to buy and market
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  that is topped and and then with succeeding lower highs, right,
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  which is what we're witnessing right now.
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  And so therefore, if, if, if, if, if, if it plays out, this
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  was 14 years ago, then you're going to see silver sort of
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  going at lower highs with the $70 as a base level.
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  But the I think the reassurance however, is though gold is going
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  to continue to go up because inflation, because uncertainties
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  and the real physical buyer kind of continue to step in at these
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  at these levels. And that and that technically
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  speaking, gold is goes 50 day moving average is at 5000.
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  So it's imperative that gold resumes above 50 day moving
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  average because if Golden State below 5000 for extended period
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  of time that could signal a a intermediary top for all the
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  commodities in the next, you know, in the next potentially
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  one to two years. Yeah, yeah.
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  So, so, so you're, you're thinking that we're going to
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  have a succession of lower highs and silver consolidate in kind
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  of the 65 to 7095 range and that's for what time frame like
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  maybe over the next year? This year, next six months for
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  the next 6 months. OK, OK, OK.
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  I wanted to make sure we weren't talking, you know, a decade or
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  anything like that. What do you see?
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  Well, let me back up because I want to get a long, I'm going to
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  get a long term idea from you what you see with silver.
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  I want to clarify one thing. When you were talking about the
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  dollar earlier, you were referring to the DXY index and
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  how and how it behaves. OK, thank you.
• 9:59
  It does feel like do you do you think there's a chance over the
• 10:03
  next year that the Fed could actually raise rates?
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  Yes, you do. OK, the.
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  Chance of hiking rates is is a lot probable.
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  Lot more probable than lowering rates.
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  Yeah. And a lot of people were betting
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  on, on, on. They're loading on the
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  Treasuries and thinking that the Fed is going to rescue this
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  always does. Remember the days when oil is
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  120, the Fed just want to raise interest rate from 2%.
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  That has had inflation trajectory.
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  And when there's a missile file in North Korea, across the
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  Japanese, Japanese sea. And then they immediately lower.
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  There's a whiff of banking crisis.
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  They lower. But not everybody is like
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  talking about even the oil 60. There was no lowering of
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  interest rates and now oils at 100.
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  Certainly there's a lot more there's a lot more reasoning for
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  hiking of interest rates as Australia has done just just
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  three days ago and it's not to be clear.
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  I don't even track the employment numbers or CPI.
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  All this is fudged. It's all about it's all about
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  the it's all about the manager right, the boss that be the the
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  guys behind the scenes on achieving the 2030 agenda, which
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  is all nothing be happy and wiping out the middle class.
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  So the entire world was, was, was was being, was on a binge
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  of, of Fiat with ultra low interest rates to try to be fed
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  morphine to try to create that demand for Fiat.
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  Because when you borrow a dollar, you have to pay back.
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  So that is a demand for dollar and all Fiat per SE.
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  And now it's coming home to rules from 2011.
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  You're going to see the trajectories of rising interest
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  rates to fit into the gender of of maximizing and exerting
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  maximum pain to the middle class to having to, to having to pay
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  back the debt by by liquidating their their real assets.
• 11:48
  Yeah, yeah. And it's, and it's interesting
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  not, not to get into too deep of a conversation about the Fed and
• 11:54
  macroeconomics, but it feels like they may almost have to
• 11:59
  raise interest rates also to in entice anyone to want to own the
• 12:04
  debt. Is that does that play into this
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  at all? You know what?
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  Yes and no, Ron. We, we also run a fund, the
• 12:13
  Oracle commodity. We got about close to $5,000,000
• 12:15
  under management. We made a lot of money on oil.
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  We made a lot of money on silver millions and, but we choose not
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  to participate in the currency market or in the bond market.
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  The reason I say that is because you're betting on the synthetics
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  when you buy, when you're betting the dollar over the
• 12:30
  euro. Well, it's, it's, it's, it's,
• 12:33
  it's the, it's the sort of, let's just call it the manager.
• 12:38
  It's right hand versus left hand, right, Because they have a
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  pretty much on the euro, they have pretty much on the dollar.
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  Same amount, same amount, same amount on the bond.
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  I mean, when, when, when 2011, the, the yield broke out of a 30
• 12:49
  year downtrend. But Donald Trump managed to put
• 12:51
  that genie back into the bottle in keeping the, the yield
• 12:54
  steady. And, and I, I was like, no,
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  that's not 20/21/21 was the yield actually broke out?
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  I think it was on 2018 or 2019 before COVID.
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  So what I mean by that is, is that if there is lack of
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  appetite on, on the treasuries that the fact I know is monetize
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  with quantitative easing and, and you know, inflation is, is
• 13:16
  again, they can suppress the inflation measures and with,
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  with, with the substitution, in fact, with a banana over over
• 13:22
  apple. And I, I'm ACFA, so I read it
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  all through already 10 years ago.
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  I don't too much, I don't put much faith into these numbers.
• 13:31
  They could have the substitution, the apple versus
• 13:33
  versus banana or they can have the productivity effect of like,
• 13:37
  you know what the computer is, is 10 times faster than was 20
• 13:40
  years ago. So computer is justified to be
• 13:42
  costing 10 times more. But they don't talk about like
• 13:45
  your, you know, you got 10 times computing power, but your
• 13:49
  computer is faster because the applications are running, are
• 13:51
  running so much slower, demand a lot more horsepower to manage.
• 13:55
  So I don't subscribe to or the Armageddon of, you know, 33
• 14:00
  trillions of debt is going to bankrupt.
• 14:02
  Like this is all Fiat since 1913 Jekyll Island, right?
• 14:06
  The fact can just print a limited amount of money.
• 14:08
  And so, so that there's and, and, and in fact, what you want
• 14:13
  to worry about is, is what I call the musical chair in that
• 14:17
  all these fiats are synthetic and media are artificial.
• 14:19
  They're abstract and that and that is very clear that people
• 14:22
  are hoarding for I mean, we're still getting this sort of a
• 14:26
  this this leveraging effect. That's what the dollar went up
• 14:29
  in the last few days. But over time, as the time go
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  by, the rich and powerful is going to start grabbing all the
• 14:35
  chairs. And when I said the musical
• 14:37
  chairs, the guys are standing and dancing are the dollar
• 14:40
  holders that eventually they're like, there's nothing to be had,
• 14:43
  right? I can still buy a Monet for a
• 14:45
  billion dollars, but I'm talking about real, like real tangible
• 14:48
  assets and bars, which which the Soros and the Amazons, they're
• 14:52
  buying the farms, the buildings, the infrastructures, the S&P 500
• 14:57
  of which the cartels owe 90% already.
• 14:59
  So I don't subscribe to like Doom and Gooms happening.
• 15:01
  It's going to be another 2009. No, they already owe 90% of
• 15:06
  everything. So how can they go down?
• 15:08
  And you can see the volatility, like for example, the Korean
• 15:11
  market was down 25% in three days from, from, from, from the
• 15:14
  announcement of the war. But yet you see the kneecap, You
• 15:16
  see that, you see the S&P 500 was down like 1 1/2 percent.
• 15:20
  I know that. I mean, Ron, you, you and I
• 15:21
  lived like the old days of 1999 financial crisis, right in the
• 15:24
  2009 mortgage crisis. I mean by and large this in just
• 15:28
  a magnitude. This is like multiple fold of
• 15:31
  what has happened back that 10 years ago and 2525 years ago and
• 15:35
  back then you saw like the market was down 5%, let me down
• 15:39
  7% down, right. What you see today is almost
• 15:42
  like the discovery process all, all and gone.
• 15:45
  And the reason is you know the Monopoly money that the casino
• 15:49
  is only 95% of the chip. So that 5% oscillating back and
• 15:52
  forth, it's not have, it's not going to have much of an effect.
• 15:55
  Yeah, yeah. And you see the, the cartels,
• 15:58
  the ultra wealthy when you talk about this musical chairs, I
• 16:02
  want to, I want to ask you this because what I envisioned is you
• 16:05
  to explain that is that they're all trading their Monopoly
• 16:09
  money, their Fiat money for essentially for real assets,
• 16:12
  like you said, land farms, stocks that own real assets,
• 16:16
  gold, silver, that type of thing.
• 16:18
  While the rest of the people are out there kind of slaving away
• 16:23
  everyday earning that monopoly money just trying to use it to
• 16:26
  survive. Is that a good a good accurate
• 16:29
  synopsis? Yeah, I mean, imagine if you're
• 16:31
  the king, let's talk about the king of the peasants.
• 16:33
  I think that's the knowledge that we have thrown up on a few
• 16:35
  times in the past if you're the king, right.
• 16:38
  Or you can watch the movie like Japanese Emperor or, or or the
• 16:41
  Turkish Empire or Mongolian Empire, even the Russian Empire.
• 16:45
  So they have, they have to outreach to new frontiers.
• 16:50
  Yeah. Like, how is, let's think about
• 16:51
  it for a bit. Like, how is the wealth of the
• 16:53
  king measured? Right.
• 16:54
  Because the currency has got the King's head on it.
• 16:57
  Like, so obviously it's not measured by the dollars, by the
• 17:00
  amount of Fiat. That's like paper because they
• 17:03
  can just print that. Well, like before.
• 17:05
  Before it's a lot more even harder because the king have to
• 17:07
  circulate something of value as a currency, like the copper or
• 17:10
  something. And they try to chip the edges
• 17:12
  and try to make it do and, and eventually the king, the Kingdom
• 17:16
  fails because they overexerted themselves.
• 17:18
  And people rebel because the Kingdom doesn't collect enough
• 17:23
  gold and silver to pay to maintain its status quo.
• 17:26
  But what you have today is yes, people also got the accepting
• 17:29
  Fiat because all being brainwashed, even my mother,
• 17:32
  right, cannot, cannot believe the dollar is worth nothing.
• 17:35
  So people being brainwashed so much.
• 17:38
  But let's think about it. And which is going to go back to
• 17:41
  the topic of the war that I like to expand it up on a little bit
• 17:43
  because I'm in Egypt right now. I was just in the United States.
• 17:46
  I was in Asia. So been travelling on the world
• 17:48
  in the last couple of months. If you go back to the, the, the
• 17:52
  story of the tale of the king again, let's think about it,
• 17:55
  right? Like what is the king got to be
• 17:56
  in control of the two things. One is the all the, all the
• 18:01
  districts and all the satellites and all the frontiers have to
• 18:05
  accept the King's money. And so, so that is so that is
• 18:09
  that is a dollar. And and the other thing is the
• 18:12
  king is going to have enough military presence to to exert
• 18:17
  this influence to, to be disobedient.
• 18:20
  And that's exactly the what we're what's happening is the
• 18:22
  king has controlled the printing press.
• 18:24
  I mean, like, you know, masks that, you know, he discovered 14
• 18:26
  printing machines and the king has a couple of them stashed,
• 18:30
  you know, stashed at the back in the backroom and just be
• 18:32
  imprinting on the daily basis to buy the SP 500.
• 18:36
  So the king has the printing press.
• 18:37
  They don't worry about too much and the king has, but that's
• 18:40
  what the king is doing today just to tie everything together.
• 18:44
  This is, this is not about Israel wagging the, the dog in
• 18:49
  the United States being a tail wagging the wedding, the wedding
• 18:52
  wagging the head. This is about, this is about
• 18:56
  proxies that the king is deploying. 1 is the big world's
• 18:59
  biggest superpower and, and so that is the military hammer.
• 19:04
  And then the other one is in order to, in order to
• 19:08
  bulletproof the King's currency, which is Fiat an abstract.
• 19:11
  Now I'm going to roll out this digital currency of which then
• 19:14
  if you don't comply, you'll be shut off literally.
• 19:16
  So, so this digital currency has to be all contagion and and
• 19:21
  therefore that's why they're going after the Middle East
• 19:24
  because they control all the oil and oil is outside of oil could
• 19:30
  be used to the currency as its own ecosystem to as a
• 19:33
  procurement, right? Or you can transact with food,
• 19:36
  metals, plant and everything. So you cannot have another.
• 19:41
  The king cannot entertain the possibility of a competing
• 19:43
  currency. So I'm not talking about bricks
• 19:45
  per SE, but you certainly don't want to be, you don't want to be
• 19:49
  having a competing currency that's being backed by real
• 19:52
  assets, which is oil. And it's so therefore is any
• 19:55
  surprise that that that Libya and, and, and Venezuela and I
• 20:00
  mean, Turkey doesn't need to be worried about the bomb because
• 20:02
  there's no oil in Turkey. If if I were anybody, I'd be
• 20:06
  worried about South Africa a little more because South Africa
• 20:08
  has all the exotics and not goodies there.
• 20:11
  But it's all about oil. It's all about oil.
• 20:14
  And so Israel, it serves it's really no purpose whatsoever to
• 20:19
  be bombed. Like my, my brother-in-law is,
• 20:21
  is, is is Jewish, right? So he doesn't approve what's
• 20:24
  happening like like Tel Aviv, entire Israel is being levelled
• 20:28
  right now. But it's not Israel's saying
• 20:30
  it's it's not United States saying or it's not Netanyahu.
• 20:33
  Any particular individual say it's if they're all the
• 20:35
  different pieces that that is reported to the king and the
• 20:40
  King's mandate is exert 2 fronts Mandate is is currency as
• 20:46
  universal money and cannot have another another sound money to
• 20:50
  be backed by oil. And then the other important
• 20:54
  thing is to have the hammer, which is the US military so that
• 20:58
  that is overall in any mind. It's like it's this, this thing
• 21:02
  doesn't serve Israel any purpose.
• 21:03
  And the existence Israel is to disturb the Middle East.
• 21:07
  And now that game is complete, it's almost like the team is
• 21:09
  saying, you know what is Well, it could be sacrificed so long
• 21:12
  as we achieved our objective, which is to be controlling the
• 21:16
  entire Arabian Peninsula of all the oil production.
• 21:20
  Of all the oil, yeah. And and like I think I
• 21:22
  understand what the Petro dollar is and kind of the history of
• 21:26
  that. This in a nutshell what you're
• 21:28
  saying is essentially about the Petro dollar, right?
• 21:32
  The US dollar since what 1974 mid 70s has has it is do you
• 21:38
  agree with that, that it's essentially to a large extent
• 21:40
  been backed by oil and that that's at risk It's.
• 21:44
  Not just petrodollar, it petrodollar is not going to be
• 21:47
  at risk. The dollar is not going to is
• 21:49
  never going to crash. If you think the dollar is a
• 21:52
  liability to the US government, of which the government is just
• 21:55
  a a siphon of people's resources, at least have
• 21:58
  somebody you can go to like the like the euro, which does even
• 22:01
  have a a a A doesn't even have to go to place.
• 22:05
  It's not even sovereign. So the dollar, the so so
• 22:09
  therefore think of the dollar and your euro and and and and
• 22:15
  the yen and Taiwanese dollar and all these fiats, right?
• 22:20
  Korean won and to some extent. So think of this as almost like
• 22:25
  a provincial money, kind of like the Japanese managing the
• 22:29
  Manchuria and you print the Manchuria money.
• 22:31
  So, so it's a paper with the Manchuria head versus the
• 22:34
  Japanese Empress head. It doesn't like, it doesn't make
• 22:36
  any difference so long as it's Fiat, right?
• 22:39
  So long as it reports to the same agency.
• 22:41
  So it's a fact of international settlement.
• 22:43
  The central Bank of Japan is no different from central Bank of
• 22:46
  Egypt versus Canada versus Australia versus they're all one
• 22:49
  of the same. But eventually the king of Fiat,
• 22:51
  they're all Fiat. So the king is tolerable to to
• 22:54
  having regional just to make a piece with the original people
• 22:59
  because the farmer is like they don't want to be accepting
• 23:01
  somebody different color or race or religion on their on their
• 23:04
  paper, which is fine with the king.
• 23:05
  What the king cannot tolerate is another competing currency that
• 23:09
  can be circulated with real assets to be exchanged.
• 23:13
  So I would not call necessarily a petrol dollar like the top.
• 23:17
  The dollar is not linked to petrol per SE.
• 23:20
  Is is that the petrol cannot be linked to anybody anything else.
• 23:26
  The petrol could be linked to Europe, which is fine, or
• 23:28
  anything else, but not to not to somebody who does not obey to
• 23:32
  the king. Yeah.
• 23:33
  So all the Fiat currencies may. Be the same.
• 23:36
  Yeah, and they're based on power, right?
• 23:38
  Who has the power? Because they're make believe
• 23:40
  they're paper. Fiat currency is.
• 23:42
  They all reported the same boss. It's the king, The king emperor.
• 23:47
  Wow, Interesting. Yes.
• 23:48
  Interesting they all reported the King, all the regional
• 23:51
  central bankers, all the central bankers around the world have to
• 23:54
  be approved by the King to be appointed.
• 23:57
  So, so do all this news that we're being fed about these
• 24:03
  massive geopolitical turmoil in the world, Russia with Ukraine,
• 24:08
  the United States in Iran. How, how serious is it?
• 24:12
  Are we really in a a period of like risk or geopolitical how,
• 24:17
  how big of a deal is all this? Yeah, I mean there are, there
• 24:20
  are only three or four pieces left and there is a stated
• 24:23
  timeline to achieve the WEF 2030 agenda.
• 24:26
  So the time is running out for 3 1/2 years.
• 24:28
  And I don't know why the timing is the way it is.
• 24:31
  Maybe because the technology is being developed to be to, to,
• 24:36
  to, to, to deploy the CBDC or whatever the is coming soon,
• 24:40
  right? So the, the boss got a report to
• 24:41
  the alien that's coming on on this report card.
• 24:44
  I don't know, but but they have a timeline.
• 24:46
  They get to execute. And there's only three or four
• 24:48
  missing pieces left to, to create this hegemony of CBDC of
• 24:52
  the king controlling the power and the money to have a
• 24:55
  bulletproof system. And the guys have left are, are
• 24:57
  China, Ukraine and, and, and some of the remaining, so China,
• 25:02
  Russia and some of the oil remaining oil remaining
• 25:05
  countries that are, I think there's only one left, which is
• 25:07
  Iran. And, and I got a little worked a
• 25:12
  little bit. I will have a high blood
• 25:13
  pressure. So, so, so right now what
• 25:16
  they're doing is, is in terms of in terms of in terms of, you
• 25:20
  know, how serious the matters are.
• 25:22
  Yeah, look, only if you look out for the macro theme.
• 25:27
  I mean you're talking like what 10,000 people had died.
• 25:29
  I mean, if you look at fentanyl overdose in the United States
• 25:33
  alone, it's it's hundreds of thousands a year.
• 25:36
  So 10,000 people died in the corner and nobody cared.
• 25:38
  It's not really big matter. It's, and I think the concern of
• 25:43
  the market in the short term is whether there's going to be oil
• 25:45
  flow from the Strait of Hormuz and also that if the Iranian oil
• 25:51
  fields will be attacked by, is by will be attacked.
• 25:55
  And because if that were to happen, then surely the Iran is
• 25:58
  going to retaliate and going after Saudi Arabia's oil fields.
• 26:01
  So, so which means that will be a permanent impairment of, of,
• 26:04
  of the 20% of the production right rather than a temporary
• 26:09
  suspension. So that is a conservative market
• 26:12
  right now. I follow Donald Trump for, for
• 26:15
  five years. I'm not like his biggest fan,
• 26:17
  but, but then, you know, you, you pick yourself his choice,
• 26:20
  right? I, I don't believe that he,
• 26:23
  he's, he's into genocide and, and, and, and killing people.
• 26:26
  He's just a deal maker. So he thought that's going to be
• 26:28
  a four day affair and it seemed like he is looking for an off
• 26:32
  ramp. However he's going to do that
• 26:34
  very, very soon, within the next two weeks because he doesn't
• 26:38
  have a say like his, his power to call the shots would be is
• 26:42
  getting diminished. Even if they call it a ceasefire
• 26:44
  today, it doesn't guarantee that Israel will not continue the
• 26:47
  fire. And it would also not guarantee
• 26:50
  that the Iranian will not retaliate in in, in kind.
• 26:53
  So Trump is going to act very, very quickly to call a halt and
• 26:58
  to use one of our leverage has remaining and while maybe even
• 27:01
  sacrificing his, his, his, his, his tenure or his legacy.
• 27:04
  He is going to he's going to put a stop to this to the best way
• 27:08
  he can. Otherwise, the potential risk as
• 27:11
  the next one is, is the classifier of, of oil
• 27:13
  infrastructure who should be permitting impairment and that's
• 27:16
  going to set oil permanently over $100.
• 27:19
  And this second potential problematic is, is, is that is
• 27:23
  that like I said, the king is happy to erase the current Iran
• 27:30
  from, from the face of the Earth by nuclear.
• 27:33
  That's a possibility because like I said, right, because Iran
• 27:36
  is around 4 million barrels a day.
• 27:38
  So that's like 5% of the total oil production overall.
• 27:41
  And that's maybe maybe 10% of the entire world's reserve.
• 27:45
  That's great because the king have just eliminated what, what
• 27:49
  he sees as rebel. And, and one once, once the
• 27:52
  people gets erasing Iran and then then the king can, can,
• 27:56
  can, can wait for 1020 years. That's OK until the nuclear
• 28:00
  waste radiation gets, gets, you know, leveled down.
• 28:04
  And then the king can, the king can take the time, the King's
• 28:07
  being around for 500 years. So the king can they step in at
• 28:10
  the right time, 20-30 fifty years from now.
• 28:12
  So Israel, it's not Israel like to be clear, because it's not
• 28:17
  about Israeli people or Israel as a nation.
• 28:19
  But the king has no problem at all to to nook Iran.
• 28:24
  And in fact, they're looking for a way to do that.
• 28:27
  Donald Trump's has still has a has some say in in stopping
• 28:31
  that. But quickly that power is
• 28:33
  getting eroded. So the the situation is
• 28:36
  containable right now and Trump is looking for off ramp because
• 28:40
  things didn't go to court in the plan to have this thing started
• 28:42
  in four days. But things can go out of hand
• 28:47
  very, very quickly, as as the King might instruct very soon,
• 28:51
  to nuke Iran. Yeah.
• 28:52
  So if we consider everything that we've discussed so far
• 28:56
  within the context of what you're describing, if we think
• 29:00
  about, let's focus on silver, silver 5, five years from now,
• 29:04
  you and I are, I'm down here in the basement, you're traveling
• 29:07
  the world still, and we're talking about silver.
• 29:10
  Five years from now, from a nominal basis, I think we don't
• 29:14
  really know where the price will be.
• 29:15
  But from a real basis, like you talked about earlier, excuse me,
• 29:19
  that silver for hundreds of years has bought like a really
• 29:22
  nice meal. Where will silver be within that
• 29:26
  context? Will silver be more valuable in
• 29:29
  your mind, less valuable? Any thoughts on that?
• 29:32
  Yeah, Ron, like, like it's adding a silver bought for more
• 29:36
  than 25 years. It's longer than I'd like to
• 29:39
  admit. And I brought the Silver
• 29:42
  Institute forecast on the supply and demand, all the industrial
• 29:45
  things going to go as you and I talked about, it's never the
• 29:47
  industrial that's going to drive the market.
• 29:49
  It's always speculative. Yeah.
• 29:51
  And the, and the for oil, I think the, the oil at around 90,
• 29:55
  that's when the speculative money started coming in and for
• 29:58
  silver is around 9 also 90 that the spec money started coming in
• 30:02
  in ports. Nobody had the crystal balls.
• 30:05
  What's going to happen 2 years from now because nobody knows.
• 30:08
  But interestingly, if you look at the competing asset classes
• 30:11
  to metals to gold and silver. And so you can look at oil as as
• 30:16
  one. And that's why oil has almost
• 30:18
  doubled in the last three months.
• 30:20
  Intrinsically war on U.S. oil is very undervalued even though
• 30:24
  there's evidence of of electricity, but then with the
• 30:27
  creation of AI, it's going to need energy, which is oil.
• 30:30
  So I think oil is going to be trading close to $100 regardless
• 30:34
  of the outcome of the war just from inflation adjusted basis.
• 30:38
  Remember that historic historical, the last 200 years,
• 30:42
  ounce of gold buys 10 barrels of oil.
• 30:45
  So with that logic, today is a $5000 gold, you ought to be able
• 30:49
  to buy 500 barrels of of of of 50 barrels of fit like yeah, 50
• 30:57
  barrels of oil. And yet right now you can buy,
• 30:59
  you can buy, you can buy 500, right?
• 31:02
  Is that right? Like the math doesn't add up.
• 31:04
  So oil is extremely undervalued. And then if you look.
• 31:07
  So to answer your question on silver, as I mentioned to you,
• 31:10
  silver is, is a little more frothy.
• 31:13
  And then if you look at the prices of grain and natural gas,
• 31:15
  they're still at deck a long low prices.
• 31:18
  So you're not, you're not looking like a crazy
• 31:20
  hyperinflation, everybody talking for cover and people
• 31:23
  losing faith of, of that's not going to this gold bug world.
• 31:26
  If you look at this world as a whole, right, like you're not
• 31:29
  like going into the store and give a $50.00 bill.
• 31:32
  And you guys look at this, you know what the worst
• 31:35
  hyperinflating I, I choose not to accept the dollar.
• 31:37
  And if you look at the countries like Turkey and Lebanon and, and
• 31:40
  these people are happy to accept their local fiats, even, you
• 31:43
  know, it's, it's, it's, it's inflating like 10% a day.
• 31:46
  So like we're not, we're not like seeing this world of
• 31:49
  hyperinflating people lose faith of the fiats and then people
• 31:51
  rejecting local currencies in favor of, of anything tangible.
• 31:55
  This is not like I'm looking at around like this is not what's
• 31:58
  happening. So like, we're not into this,
• 32:00
  you know, doom and gloom. Not, not everybody's boarding
• 32:03
  gold and silver. This is not it.
• 32:04
  And so consequently, I am not super bullish on silver, but but
• 32:09
  things can go wrong. So I check on silver is 70 is is
• 32:13
  the is the low low 70's. The 200 moving average silver
• 32:17
  right now is the 50s. I don't think it's going to go
• 32:19
  out to 50s and 200 moving average for gold is 4000.
• 32:22
  I don't think is going to go back to low 4000.
• 32:24
  So I think in a, in a scenario, likely scenario is gold is going
• 32:28
  to is going to bottom in the next few days after the fact
• 32:32
  that announces the interest rate decision.
• 32:34
  But the fundamental of silver is going to get stronger because
• 32:36
  the war and the printing and and so the gold is should stay above
• 32:40
  the 50 debt moving average at around 5000 and especially
• 32:43
  inching breaking out of 5400 to 6000 this year.
• 32:47
  And then silver is going to hover around low 70s to mid 90s
• 32:51
  this year and then early next year it could can go a false,
• 32:55
  false breakdown back to around maybe, maybe maybe low 70s or
• 33:00
  60s when gold is 6000. And then it's going to take that
• 33:04
  dip, right. And then it's going to take its
• 33:05
  break out to over 100. But I do not our record
• 33:09
  anticipate go taking out $100 this year based on the pattern
• 33:13
  of 2011 and just based on what I see on the street, I don't think
• 33:17
  there's average Joe has no appetite buying silver at $80.00
• 33:20
  an ounce. I I don't see that.
• 33:22
  I don't see that, yeah. And, and, and do you agree with
• 33:25
  this idea that it's healthy in any market for a period of
• 33:28
  consolidation? I know people in the silver
• 33:31
  world are just wanted to go up, up, up all the time and I think
• 33:34
  we all do, right. But we also have to be realistic
• 33:37
  that that consolidation period. Ron, it's not about if you look
• 33:42
  at the market. If you look if you look at the
• 33:43
  market as a whole, we've been quite successful trading.
• 33:48
  After reading the book, I think I shared with the conversation
• 33:51
  with God, I have like we did tremendous well at Oracle
• 33:55
  Commodity Holdings. We made millions of dollars in
• 33:58
  the last three months. And by the way, the Oracle is
• 34:00
  trading on the Chase adventure symbols ORCL is, is that you
• 34:05
  kind of sort of looking at as observer of the any particular
• 34:08
  market silver as whole, it's all in the end about supply and
• 34:11
  demand. So then if you took dissect, OK,
• 34:15
  so, so Ron, let me just dissect the silver market, the buyers
• 34:18
  and the sellers, silver buyers 80% that is industrial buyers.
• 34:24
  And I don't see a surge in silver purchasing because as I
• 34:28
  mentioned, there's a population collapse and and silver $80,
• 34:31
  which is which was it was $30 only, only only six months ago.
• 34:36
  So people are going to start looking for substitutions.
• 34:38
  They're just going to do let demand, industry demand for last
• 34:41
  silver is going to level around here or maybe go last.
• 34:43
  So I don't I don't see a rallying silver because of
• 34:46
  industrial demand. So then you can take that.
• 34:48
  So these 70% of the buyer of silver is going to be not going
• 34:53
  to play a factor 1. So then if you look at that 20%
• 34:56
  of the people that are buying silver right like are, are, is
• 34:59
  there enough appetite to drive that silver price to over 100
• 35:03
  from this set of buyers? My answer is indeterminate.
• 35:07
  My answer is my answer is to be determined.
• 35:11
  I am not convinced. Meaning that the mom and pops
• 35:14
  are you and I, we're not going to move the needle.
• 35:16
  So the only other guys that can move the needle on silver is are
• 35:20
  the guys that are that are that are the Jeff Bezos, the, the,
• 35:26
  the, the, the Kochs brothers, the Zeras, the, the Elon Musk's.
• 35:32
  Well, this some of these people got burned.
• 35:35
  They got any silver at 80 and they got burned at 1:20, right.
• 35:38
  First of all, then people go who are after the physicals.
• 35:42
  Right now, silver may be still a small market, maybe people might
• 35:46
  still prefer gold and there's some people never going into
• 35:48
  silver because silver market just too small.
• 35:51
  It's too small to entertain. So I don't see all of a sudden
• 35:54
  billions of dollars that's going to be able to take silver to the
• 35:57
  next level. There are potentially be more
• 36:00
  money into gold because gold's gold's rally is being a lot more
• 36:03
  steady. So I can see a case for gold
• 36:06
  continue to go up and the ties of war and certainties I
• 36:09
  mentioned they don't go like, Oh my God, there's a war tomorrow.
• 36:11
  I'm going to go to buy silver. They're going to buy gold.
• 36:13
  They're not going to buy silver. So I think these are.
• 36:16
  So I don't see that surge in silver that you're going to,
• 36:19
  you're going to need something around 10 to $20 billion going
• 36:22
  after silver. There's a lot of paper trading
• 36:25
  on COMEX, certainly more than than than the billion dollar on
• 36:29
  the on the big days that you're seeing in the contracts in a day
• 36:35
  trading over a billion oz, which means the entire production
• 36:38
  service trading on a day on paper.
• 36:40
  And also I think that you backed up what I was saying is you see
• 36:44
  a very dramatic decline in the paper markets volume.
• 36:47
  So that means that there is not a lot of frothy speculative
• 36:51
  interest in silver. I don't see that happening in
• 36:54
  the short term horizon until Ron until gold takes out its
• 36:59
  previous high of 6000. Exactly.
• 37:02
  So that's what exactly what happened back in 2011 that gold.
• 37:06
  Gold continued to inch up and eventually take out what it what
• 37:09
  it was in May of 2021 about 8 months later and silver didn't
• 37:13
  break out until until gold took out his previous high.
• 37:16
  So, but what I mean silver first, previous high, I'm not
• 37:19
  talking about 1:20, I'm talking 100 because as I mentioned to
• 37:22
  you between 100 and 120 was manufactured by the cartels.
• 37:27
  So overall, I'm not saying healthy or not healthy.
• 37:30
  I'm just looking at supply demand for for gold and silver,
• 37:33
  who is buying and who is selling, right and look for the
• 37:37
  sellers. Ron, my view on that is there is
• 37:41
  a lot of silver has been boarded above ground inventory of silver
• 37:46
  investment ball like bars. We don't know.
• 37:49
  It could be billions of Oz. That's what that's what infinite
• 37:52
  intelligence. If you ask the question they're
• 37:54
  telling me, it's just that the clearing price, the clearing
• 37:57
  price is not the clearing price is not at 100 like I'm looking
• 38:03
  at about maybe 150 to 300. So when, when, when, when the
• 38:07
  price has to 150 to 300. You're going to see the, the,
• 38:10
  you're going to see the, you're going to see volume coming up,
• 38:12
  you're going to see physical coming out of the market.
• 38:14
  But right now there's just not, there's not in terms of in terms
• 38:18
  of war to have that enough physical demand to come up.
• 38:22
  Look hunting for silver. But until it happens, you're
• 38:24
  going to see the consolidation between 65 to 90.
• 38:27
  And one more point I want to expand upon a bit, which is
• 38:29
  crypto. You know, I watched crypto when
• 38:33
  it was when it was $15.00 an ounce, when gold was, when gold
• 38:36
  was around 500. So coincidentally per grand
• 38:40
  basis, gold and silver. So gold, gold and, and cryptos
• 38:43
  trading at the same time. And, but, but long in short,
• 38:48
  there's a lot of paper, just surface that is actually Jeffrey
• 38:51
  Einstein, which is, which is a, just a, which is a, which is a
• 38:56
  agent to the Rothschilds and which controls the central
• 39:01
  banks. And he's actually the creator
• 39:04
  working with MIT that they're the founders of bitcoins and
• 39:08
  papers show that show that discussion on that actually
• 39:10
  started years 2000 and three 2004 years before bitcoins was
• 39:15
  actually created. And and so I think that bitcoins
• 39:19
  has plateau somewhat in this levels.
• 39:21
  And that would be a good news because then the, the there's
• 39:24
  quite a bit of money that's going to be supposed to invest
• 39:27
  in crypto. So I will urge the people are
• 39:28
  investing crypto lots of time to rotate back to gold and silver
• 39:31
  after made such instant gains and the reason for the existing
• 39:34
  of crypto really quickly in just three minutes.
• 39:38
  It's not like the purpose of crypto and blockchain because of
• 39:41
  integrity and technology. It's like, well, it's not like
• 39:46
  it's not like there is a glaring issue with Fiat like the SWIFT
• 39:51
  system kind of words being band aided like 20 years, 30 years
• 39:54
  ago when I went to high school in UK, when my father tried to
• 39:57
  wire my trying to wire me money in 1985, forty years ago, I
• 40:02
  sometimes SWIFT get lost. So take four days from Taiwan to
• 40:05
  England. But now like wrong.
• 40:07
  SWIFT works like you wire money today, you're gonna get it
• 40:10
  tomorrow anywhere in the world. So the SWIFT system works and
• 40:13
  it's not like. You you're getting $100 bill
• 40:16
  from your ATM from Wells Fargo and, and you try to take the
• 40:18
  $100 and to buy some drinks at the bar and then the bartenders
• 40:23
  sort of a check the machine, check the dollar bill under some
• 40:27
  fluorescent thing. It's always a counterfeit,
• 40:28
  right? The dollar system is the Fiat
• 40:30
  system is very sound. So, so there's no reason to be
• 40:34
  having cryptos. Like it's not like, you know,
• 40:36
  the world is, is is is is is being, is being ran through with
• 40:40
  with the counterfeit. There's such no such thing.
• 40:42
  The reason for the reason for crypto are twofold.
• 40:45
  Let me share with you. One is to divert people's buying
• 40:49
  power from the S&P 500 from the real assets, which is the equity
• 40:53
  market. And that's why that enabled the
• 40:54
  king to amass 90% of S&P. That's why you're advertising
• 40:59
  this crypto. Just like 25 years ago, people
• 41:02
  say put 80% in bonds, 20% in equity.
• 41:04
  Again, that's another, and that's just another talking
• 41:07
  points to try to get you away from equities, but into bonds,
• 41:10
  which is synthetic, which is artificial, so that they tried
• 41:13
  to create another asset class to try to suck the buying power
• 41:17
  away from the, from the peasants into something that a king
• 41:19
  creates and, and prints rather than something that the king
• 41:22
  just cannot print, of which the king is buying wording.
• 41:24
  So that's the reason #1 to, to try to get people shy away from
• 41:28
  buying gold and silver and equities and anything else.
• 41:30
  But you do cryptos. And then we do.
• 41:32
  The other reason the cryptos were invented, as I witnessed
• 41:36
  traveling in Asia and elsewhere is, is is to circumvent the KYC.
• 41:42
  This is not. And what I mean by that is
• 41:44
  around in Thailand, we're seeing an unprecedented amount of
• 41:48
  investment from from what I believe is the Jewish in Israel
• 41:52
  into buying into building skyscrapers, modern skyscrapers,
• 41:55
  102 hundred, 150 floors, incredible development in
• 41:59
  Thailand right now. But there's a concern in
• 42:01
  Thailand in that a lot of money were converted from crypto.
• 42:05
  We're not talking like 50,000, we're talking hundreds of
• 42:08
  billions of dollars in crypto converted into local Thai Fiat
• 42:13
  currencies. In turn, they were buying
• 42:14
  skyscrapers and building constructions and buying assets
• 42:17
  in companies. So what's happened is, is crypto
• 42:20
  is another invention by the king to conquer the provincial areas
• 42:25
  that don't like the king. So what I mean by that the king
• 42:28
  doesn't cannot print some King's currency and go to Far East to
• 42:32
  buy some assets because the Far East doesn't recognize you don't
• 42:35
  like the king, right? Right.
• 42:36
  So what the king is doing is creating another neutral
• 42:39
  currency, a technology called breakthrough currency.
• 42:42
  So what essentially is doing that?
• 42:44
  If you were to take $100 billion into Taiwan, for example, and
• 42:49
  say I want to buy Taipei 101, which is exactly what's
• 42:52
  happening in Thailand, the Taiwan Bank is going to say,
• 42:55
  where do you come with money from?
• 42:57
  You know, what is your business model?
• 42:58
  How can you generate this money? It's going to be a whole bunch
• 43:01
  of KYC's but that money, 100 billion is literally the king
• 43:04
  turned it out of thin air yesterday.
• 43:06
  Literally they have no issue doing that with SMP 500 because
• 43:11
  nobody is going to dare audit black wash state streets of
• 43:14
  Bangkok. None of those are in existence.
• 43:16
  If you want the history, watch the history of Bangkok.
• 43:19
  The video is still on YouTube back in the early 90s and God
• 43:22
  said we have a very humble beginning.
• 43:24
  We are the founders or hot working class.
• 43:26
  They asked under management of Vanguard when it's created was
• 43:29
  like $2 billion and now it's $2 trillion despite it dare to ask
• 43:33
  where this money come violence is being printed.
• 43:35
  Okay, from Wells Fargo is a loan or is whatever, but you cannot
• 43:39
  get away with that on a bank or trying to buy something in say
• 43:43
  in Malaysia per se because the Malaysia say okay, okay, your
• 43:48
  business is what and where does your money come from $100
• 43:50
  billion. You're going to see all the
• 43:53
  trial of all your monthly statements from the last three
• 43:56
  years and they're going to ask you why you got this money from
• 43:59
  all, but you cannot say, well, the key just print $100 billion
• 44:02
  to my account and I can take it by they cannot do that.
• 44:04
  So what they're doing today is they, they say that, oh, I'm an
• 44:08
  investor of crypto and I thought crypto was $15 and look, now
• 44:12
  crypto is 100,000. So I got all this money, so I'm
• 44:15
  ready to exchange Fiat for for Thai Thai currency to buy.
• 44:20
  The Thai people are reluctantly getting away with it, right?
• 44:23
  But but now they are, they're in the front press saying that
• 44:26
  these cryptos are completely unregulated, never KYC verified.
• 44:30
  And there are horse of of these cryptos coming in invading these
• 44:35
  Far East countries and they're buying pertinent, critical,
• 44:39
  essential assets in these countries.
• 44:41
  And, and, and, and so that so I'm going back.
• 44:44
  One is divert the real assets purchases and the other one is
• 44:48
  to go these Far East countries that have not 100% enrolled into
• 44:52
  the King's Kingdom and and that as a vehicle for them to start
• 44:56
  grabbing assets. Wow, Yeah, it's fascinating.
• 44:59
  And like you said, right, it's a neutral currency that it isn't
• 45:05
  necessarily. A whisk kid, a whisk kid with
• 45:07
  Lamborghini and come up with the with the Prada sunglasses flashy
• 45:13
  come in and drop $100 million of crypto, right?
• 45:15
  And then you can imagine the face of these banks sitting
• 45:18
  there is like, what the hell is going on here?
• 45:21
  Like, how can we can I see these guys?
• 45:23
  And then the guys just say, you know what, I've made crypto
• 45:24
  money, right? So, so I think that is a
• 45:26
  solution, a Band-Aid temporarily, but people are
• 45:29
  catching up to it. And now with this Epstein
• 45:32
  leakage and that this, this, the money was created by the king,
• 45:35
  literally just another, it's just another currency.
• 45:38
  It's another currency to conquer the world.
• 45:40
  And so I, I, I see the demand for currency for, for, for
• 45:44
  cryptos to diminish, but not to say that crypto is going to
• 45:48
  crash because remember, the king can continue to print.
• 45:50
  It's, it's, it's just a different, it's, it's, it's a
• 45:53
  laptop, right? It's a Dell versus HP literally.
• 45:56
  And and it's a software program. It's literally a software
• 46:00
  program. Imagine when you're playing the
• 46:02
  Monopoly money or, or king of the throne on APC.
• 46:06
  That is what the king is doing. They're literally just printing.
• 46:09
  They're at the casino. And then what they think about
• 46:10
  they're just a casino. It's just different casino.
• 46:13
  There are, there are, there are, there are.
• 46:14
  So maybe maybe the Thai people don't like to play at the wind,
• 46:17
  right? So the Thai people can go with
• 46:20
  Bellagio. It's the same.
• 46:21
  It's the same coin. It's absolutely the same coin.
• 46:24
  Yeah, yeah. Wild, wild.
• 46:25
  Thank you, John. You've given some really keen
• 46:28
  insights. And then not just the precious
• 46:30
  metals world, but kind of how the world works.
• 46:33
  Works, yeah. It's not about Israelis wagging
• 46:38
  the tail of of United States. It's it's the same, it's the
• 46:41
  everybody's reported to the king, Epstein reported to the
• 46:44
  king all the Senate, Congress, the president reported to the
• 46:48
  king all, the, all the Japanese and then even further the king,
• 46:53
  the king 1000 years ago, 500 years ago started this process,
• 46:58
  right? So they actually incited and
• 47:00
  created Marxism and communism and to conquer the Russians.
• 47:04
  So the king actually financed and, and fostered Marx and, and,
• 47:10
  and, and Mao, Mao Zedong and Marx and Lenin.
• 47:13
  All these are agents of the king and to, to, to, to, to, to, to
• 47:19
  really create the Kingdom and not.
• 47:22
  But you have a couple of defiant peasants, Xi Jinping and Putin,
• 47:27
  and these are not coming from the king, right?
• 47:29
  And so they're in Defiant, and let's see how it's going to play
• 47:31
  out. It's going to be it's going to
• 47:34
  be interesting 11 last question about pressure turtles can
• 47:38
  people protect themselves from the king by holding physical
• 47:43
  gold and silver in your. Opinion not, not only is not
• 47:46
  only can they do that, they have to do it.
• 47:48
  And so three years ago I said, I told my mom we started buying
• 47:51
  gold at 1800. I says, as I said, we have never
• 47:54
  been buying for 15 years the first time.
• 47:56
  And then we started and then and then in May of last year, just
• 48:00
  about a year ago, I went on Twitter and a number of
• 48:02
  broadcasts say this is the time to buy silver.
• 48:05
  I think I believe it was the show This is better to buy
• 48:07
  silver at 36 in in June to buy at 35 because every time when
• 48:11
  silver broke out $35, it go to $50.00 right, right away.
• 48:14
  But sure enough, even though it didn't go right away last night,
• 48:17
  because it's the summer, think September, it went without it.
• 48:20
  It went so silver it's kind of minimal for silver like bottom
• 48:24
  of silver 70. So it's not too late.
• 48:26
  You have to buy silver, not ETFs, not Perth Mint papers, not
• 48:30
  these gold certificates to circumvent the digital currency.
• 48:33
  Again Rod, there is too much Fiat floating around.
• 48:37
  The king has printed too much money.
• 48:39
  So the king is getting very visibly annoyed and the way to
• 48:43
  handicap people is this 15 minute cities that the king, I
• 48:46
  don't want to see any better meddling with the King's
• 48:48
  business. When the king is, is, is
• 48:50
  vacationing Santorini or Cape Town in South Africa or, or, or
• 48:53
  Times Square in New York. The king just want to see the
• 48:56
  peasants, OK, They're all deal with the peasants.
• 48:58
  But they cannot stop doing that because people get new classes
• 49:01
  getting very healthy. So the way to do that is, is,
• 49:04
  is, is creating this Michelin's club, exclusive club to exclude
• 49:08
  the right peasants. And the way to do that is a
• 49:10
  combination of digital currency, copy credits and social credit
• 49:14
  system, which is being practiced in the Brit ID system.
• 49:17
  So if you're a jaywalk, right, you cannot travel period.
• 49:21
  And then if you were, if you were to say something a foul
• 49:24
  like in England, you kind of rested if you do something on
• 49:26
  Facebook. And if you were to, if you were
• 49:28
  to do too much travelling of the key just want you to do, then
• 49:31
  you consume A covering credit, which is a ton a year, 1000
• 49:33
  kilos. A trans Pacific flight from Asia
• 49:35
  to New York is 1000 kilos. As I mentioned to you multiple
• 49:38
  times, if we do make a flight from from Orion to to to North
• 49:42
  America, then you'd be eating tofu for the rest of the year.
• 49:44
  And then and you cannot go on right on a PCH Pacific Coast
• 49:48
  Highway to to to Costco in San Diego to buy a Ken of Coca-Cola
• 49:52
  when when there is the Costco next to you.
• 49:54
  This is coming. So the combination of digital
• 49:56
  currency, social credit system and the carbon credit will
• 49:59
  restrict your movement to handicap you.
• 50:02
  And that's happening by 20-30. And they were to get around
• 50:04
  that. Unfortunately, you cannot say,
• 50:06
  oh, you know what, my grandma say something all day.
• 50:08
  I would just take my grandma's phone right to do to buy my
• 50:12
  steak. No, unfortunately, like I said,
• 50:14
  nowadays I'm a Taiwanese national.
• 50:16
  All the systems you remember, like, like you go to Thailand,
• 50:20
  United States, they don't even check your passport anymore.
• 50:23
  They don't check your boarding pass.
• 50:24
  You just, you go, you stay in front of a computer or screen
• 50:27
  and then the light turns green. No passport checking.
• 50:31
  They're all the same machines by the ALW.
• 50:33
  Yeah, it's identical machines anywhere around the world.
• 50:36
  He said, well, how do you get my data?
• 50:37
  Well, you've been doing your fingerprinting and iris checking
• 50:39
  for how long? For almost 10 years.
• 50:41
  So the entire system is all integrated in one database.
• 50:44
  And that and that in the future, it's not just digital wallet.
• 50:47
  Like to buy a gas you have to scan your iris.
• 50:50
  So you have to literally go back to that machine.
• 50:51
  Impossible. And do you know, or you have to
• 50:54
  face it, maybe some words on sort of a face off with the Jack
• 50:58
  Nicholas and and the and the junky voter.
• 51:01
  But you had worse on that. Try to try to try to circumvent
• 51:04
  that. Or the alternative is the black
• 51:06
  market, which is a silver coin. Because imagine if you do the
• 51:09
  gas station, you want to you want to top your gas and instead
• 51:13
  of and then you try to you try to stick your face in front of
• 51:15
  that screen and it's like, sorry, you can't buy gas
• 51:18
  anymore. Yeah, you know what, you get
• 51:21
  that coin to the, to the guy to to, to the, to the Patel, right,
• 51:25
  sitting at the cashier and Mr. Patel is going to wow, silver
• 51:30
  coin that's fancy. And Patel is going to take that
• 51:32
  coin happily because Patel can take that coin and Patel can buy
• 51:36
  his yeah, chicken straw. Well, right, Because he's a good
• 51:40
  meal credit and the good meal and the chicken vendor can take
• 51:44
  that and and and do something else to travel to see his family
• 51:47
  in Vietnam. So that's become the black
• 51:49
  market and that is going to happen.
• 51:51
  And that is the reason, as I mentioned to you before, time
• 51:54
  and again for more than a year, the the sentence of goals rally.
• 51:59
  And so is rally. It's not to do with inflation.
• 52:02
  It's not to do with the Fiat. People are like running
• 52:05
  hyperinflation or people lost confidence in Fiat like the
• 52:08
  middle class and, and the the peasant says no money, they
• 52:11
  don't care like the dollar or something.
• 52:13
  It's not that lose confidence, but the the the rally of gold
• 52:17
  from 1800 to 5000 is direct. It's direct purchase by the well
• 52:22
  to do by the center billionaires, by the
• 52:25
  billionaires by by by the zeros, the Koch brothers, sushi pings
• 52:29
  the Modi's all these all these hairs of legacy money and to
• 52:35
  preserve their living standards, right.
• 52:37
  So it's not like they're making they're making these purchases
• 52:40
  and go like, Oh my God, you know, my account went to a
• 52:42
  billion dollars today. No, it's preserved their living
• 52:45
  standards. What I mean by that is, is that
• 52:47
  it's not wrong for you. It's not like I, I, I want to, I
• 52:51
  want to be able to like buy. It's not like I'm making enough
• 52:53
  money. So today I'm drinking Johnny
• 52:55
  Walker, right label. I'm going to upgrade to Johnny
• 52:57
  Walker blue label. It's the fact that you should be
• 52:59
  able to, you can buy Johnny Walker at all.
• 53:02
  So for the people that are buying the coins today, you
• 53:05
  don't want to be looking at, OK, I'm, I'm making this money, much
• 53:07
  money. And then, and then, you know,
• 53:09
  some gold bunch are saying like, go, go, go to 100.
• 53:11
  I'm going to sell. That's not the way you looked at
• 53:13
  it. It's rather you're holding these
• 53:14
  coins for the rainy day in case something happened, like a
• 53:19
  Project Blue, which I think there's some credence to that.
• 53:22
  One day they're gonna have projectiles and all this.
• 53:25
  All this AI are so real, it cannot tell the difference, real
• 53:28
  versus not. You're gonna have some hologram
• 53:30
  looking at alien invasion. They're gonna shut down all this
• 53:32
  banking systems, shut down the power. 10 days later, all your
• 53:36
  balances, accounts, balances, computers, Internet complete
• 53:41
  total shutdown. You end up.
• 53:43
  Imagine if you log into your one day, you log into your system,
• 53:48
  OK with your password and then you staring at a blank screen.
• 53:54
  Just imagine that one day for a minute and it's a job.
• 53:57
  That's not possible. Let's think about it.
• 53:59
  OK, Ron, you have what, a Malaysian 5573 that disappeared
• 54:04
  like, what, 5-6 years ago? You're like, how is that even
• 54:08
  possible? Like you can fly with it, right?
• 54:11
  You should try exactly like how, how is it impossible that, that
• 54:15
  somebody make a story? Said the alien infiltrated the,
• 54:18
  the, the remember all this money is a digital.
• 54:22
  It's, it's a digit on a computer screen.
• 54:25
  It's no different from your writing software.
• 54:27
  It's as fast software. So who is it to stop an alien
• 54:30
  from attacking the fat computer and you erase everybody's
• 54:35
  account balances if you say, oh, that's impossible, well, suppose
• 54:40
  it is, then what are you going to do about it?
• 54:42
  So in case that happens, then what is your contingency plan
• 54:46
  like? But it's not your first time you
• 54:49
  log into a computer or Citibank and sit and say using
• 54:51
  maintenance, right? You're thinking, wow, for second
• 54:54
  for a minute, is my money still there?
• 54:56
  And who's getting track of money?
• 54:58
  Who's keeping track of my money? Is the king who's getting track
• 55:01
  of my money, right. Well, also if the king just like
• 55:03
  to have the money, the king just say, you know what, there is a
• 55:06
  security breach, your money's gone.
• 55:08
  And if you think about it more, if you think a company's like
• 55:10
  loud, loud flare, right? All these, all these loud flare,
• 55:14
  you know, these protection companies, essentially the king
• 55:17
  has built a layer on top of the Internet so that Internet right
• 55:22
  now is distributed. The king doesn't control the
• 55:24
  Internet because the Internet is distributed.
• 55:26
  You can have a server hosted here and there that's connected
• 55:29
  to the Internet that's controlled by nobody.
• 55:31
  But the king has built a layer on top of that for the sake in
• 55:35
  the name of security, in the name of, of, of, of Daniella
• 55:39
  service attack. So imagine if the king just
• 55:41
  turned off that layer, then all the services will be denied.
• 55:48
  That is happening around. So not only can the king shut
• 55:51
  off electricity, the king actually can shut off Internet.
• 55:54
  Not actually Internet per SE, but the access to the underlying
• 55:57
  Internet through this protection layer of security layer.
• 56:01
  That is, that they're supposed to protect you.
• 56:03
  From yeah, the cloud, yeah. So it's a good idea.
• 56:06
  It's a good idea to hold on to to silver it's.
• 56:08
  Not a good idea. It's essential.
• 56:10
  Yeah, it's essential. And I will recommend you buy
• 56:13
  numismatics, the silver coins. And the way I came to that is,
• 56:16
  is, is it's kind of like Rolex versus steel.
• 56:19
  The premium between the, the, the, the base physical metal and
• 56:23
  the numismatics, the margin was continued to do wider.
• 56:27
  It's kind of like Rolex, just just Rolex, just the pile of
• 56:29
  steel, right? But the Rolex watch itself is
• 56:31
  over 3000. So silver itself is say $100.00
• 56:34
  an ounce. But the numismatics, it's kind
• 56:36
  of worth a lot more. The margins, the spread is going
• 56:39
  to widen. The reason for that is the key
• 56:41
  just cannot right now stop you by buying silver and gold
• 56:43
  because then that's going to create a buying frenzy.
• 56:45
  This super is going to circulate.
• 56:47
  You know, gold, gold is going to be gold is going to be banned.
• 56:49
  Like what's 1971? But rather what they're doing,
• 56:52
  which is what they started to do already is they're just going to
• 56:55
  throttle and ration the supply of physical to the mint.
• 57:00
  So what is it good? What does it make good for if
• 57:02
  they cannot get the, if they don't have the, the bullions to,
• 57:06
  to, to, to men. So that's going to happen every
• 57:08
  year. You're going to say, well, by
• 57:09
  January, you know, US mints run out of supply because of
• 57:13
  logistics and whatever, right? So, and then also what's the
• 57:16
  CBDC is instituted? You're screwed, You're fucked,
• 57:19
  right? Because the, the king can easily
• 57:22
  try who are the mints, right? So, so you cannot buy from Kitco
• 57:25
  like the Kitco just be like everybody has a quota on how
• 57:29
  much they can buy. And so you're screwed.
• 57:31
  You're screwed. Yeah.
• 57:33
  And if you say, you know what, I am not going to subscribe to the
• 57:35
  King's PR system. Well, unfortunately if you look
• 57:38
  at if you're the tabulate the countries like companies, like
• 57:41
  countries like UK and EU, Canada, 50% of the employment is
• 57:47
  payable as government. So they will just, I'm going to
• 57:49
  pay you, I'm going to send you a link, right, which is a, which
• 57:52
  is A tag, a string by e-mail. And you have to open a digital
• 57:57
  wallet in order to collect. Worse yet, Ron, when, when the
• 58:01
  time is ready to pay your taxes, real estate taxes, income taxes,
• 58:06
  capital gains taxes, and, and they are going to force you to
• 58:09
  pay through digital wallet. And if you don't pay, it's very
• 58:14
  easy. They know where you work, they
• 58:15
  know where your assets are. They will just, they will just
• 58:19
  foreclose it. So it's, there's no way you can
• 58:22
  get around. The only way is to get gold
• 58:25
  right now, get gold and silver. And that's why be so eager to
• 58:30
  finish up Iran. Anybody who can produce tangible
• 58:33
  asset to compete with the King's fiats.
• 58:37
  So the next one I'll be worried about will be South Africa,
• 58:40
  because South Africa is the largest goal reserves and a lot
• 58:44
  of exotics, trace minerals, critical minerals, platinum,
• 58:48
  coal that South Africa would should be very worried, yeah.
• 58:53
  Yeah, yeah. So, so if I shift gears to the
• 58:57
  'cause I also like to follow the mining sector as well.
• 59:00
  And you're the you're the CEO of Silver Elephant Mining.
• 59:04
  Is there a place when, when it comes to protecting ourselves?
• 59:07
  Like I own a lot of the development stage silver
• 59:11
  companies, including silver, including Silver Elephant
• 59:14
  Mining. Is is, you know, silver elephant
• 59:17
  has a huge silver deposit in Bolivia.
• 59:20
  Yes. Is that another Ave. for people
• 59:23
  to look at in terms of detecting themselves?
• 59:26
  Yes, well let me switch this on my computer setup power I'm just
• 59:30
  in a hotel here in in Egypt transit back to to Asia.
• 59:35
  The answer is silver elephant is potential vehicle, but what you
• 59:40
  want to look at there's a difference between silver mining
• 59:42
  company and and gold and silver. It's kind of like a Tesla car
• 59:47
  buying a Tesla vehicle auto versus buying Tesla the company
• 59:52
  right. And obviously, obviously,
• 59:54
  obviously when you when you buy silver, silver mining company is
• 59:58
  being promoted as a leveraged play on silver.
• 1:00:01
  So let me run explain really quickly sort of how what the
• 1:00:04
  appeal for mining companies are for some of these new people
• 1:00:06
  that are maybe into the market, into mining space.
• 1:00:09
  So imagine right now say silver, silver producer today say First
• 1:00:13
  Majestics or whatever, they're only started to produce cash
• 1:00:16
  flow. Let's just say that the
• 1:00:18
  company's say silver output is mining 1,000,000 oz a year of
• 1:00:22
  silver at say $99 per ounce of cost.
• 1:00:26
  So at $100 silver then the the profit will be 1,000,000 oz
• 1:00:32
  times $1.00 profit. What because price is 100 and
• 1:00:36
  cost is $99.00 to dig out of the ground and process it.
• 1:00:39
  So it's not very sexy like like the profit's a dollar.
• 1:00:42
  But imagine silver went from 100 to 110.
• 1:00:45
  So people who bought silver made 10% on paper.
• 1:00:48
  Their paper gained like bought 100 and sell at 1:10 they made
• 1:00:52
  $10.00. So so so so it made 10%.
• 1:00:55
  But for silver Elephant, for example, hypothetically
• 1:00:58
  speaking, all of a sudden instead of making $1,000,000 a
• 1:01:03
  million ounce of silver at 110, they're making $11.00 per oz.
• 1:01:07
  So that income went up 10 times from $1,000,000 to $10 million.
• 1:01:13
  So this is a storyline run, but keep in mind there's there's a
• 1:01:16
  lot of downfall, right? For example, mining companies is
• 1:01:20
  a burning stick because the reserves gets depleted as the
• 1:01:23
  time goes on. So it's not the production is
• 1:01:25
  not perpetual. And also you have to community
• 1:01:28
  deal with the geopolitical risk. And there's also the cost keep
• 1:01:31
  rising because as silver prices go up, while the trucker's going
• 1:01:35
  to ask for a raise and the, the field's going to go up.
• 1:01:37
  So your cost is not fixed at $99.
• 1:01:40
  It's going to go up along with the silver price.
• 1:01:43
  And, and, and as you make more money, it doesn't mean that
• 1:01:45
  11,000,000 is going to go directly to the coffer, right?
• 1:01:48
  And then the government's going to raise taxes and royalties and
• 1:01:51
  all those different things. The community want a piece of
• 1:01:54
  your community payment go up. So, but that, so you got to be a
• 1:01:57
  little bit careful with the timing of of not to mention too
• 1:02:01
  on the flip side of the coin. But if, if silver will go from
• 1:02:04
  100 to 90, you lose 10%. But if silver went from 100 to
• 1:02:08
  90 and if silver elephant has a lot of bank loan loan in the
• 1:02:12
  bank, all of a sudden you went from making a million to losing
• 1:02:15
  10 million. So you can actually lose the
• 1:02:17
  money to the bank potentially. So you see, there's a lot of
• 1:02:21
  downfall. So I would, I would not put
• 1:02:22
  like, given what we are, I'm not necessarily thinking a lot of
• 1:02:25
  best right now. It's about a world preservation.
• 1:02:27
  It's not about like putting all the money in the bank.
• 1:02:29
  So I will put, I will put gold and silver as cash.
• 1:02:34
  So you want to have your net worth say $1,000,000, You want
• 1:02:37
  to have $200,000 in silver and gold coins.
• 1:02:40
  This is your, this is like, you know what, 200,000 I can get
• 1:02:43
  through this alien invasion. I can get through this crazy
• 1:02:46
  world. I'm going to come out on top
• 1:02:48
  good for, for like 3 years without, without having to worry
• 1:02:53
  about anything. And, and that's good because
• 1:02:56
  they're going to come out on the other side.
• 1:02:57
  They're going to have that money to, to, to, to buy things.
• 1:03:00
  So you want to have 20% cash and that's gold and silver coins.
• 1:03:03
  And then you want to have to say equity and whatever else you
• 1:03:05
  want to plan on real estate, you want a couple of risk days and
• 1:03:08
  equity. Why not?
• 1:03:09
  So if I were you, I would like so like say 50% equity and 30%
• 1:03:13
  real estate and 30% in cash, then that and that and of that
• 1:03:16
  50% equity, then you can buy, right?
• 1:03:18
  Japanese market, you can buy equity market you can buy mining
• 1:03:22
  shares. So this is a different asset
• 1:03:24
  class. But I I would not put like 90%
• 1:03:27
  of my money in the back in, in especially also given this
• 1:03:30
  geopolitics that government like Burkina Faso in Africa, not only
• 1:03:35
  do you have to worry about the government, my, my, my, my, my,
• 1:03:38
  my confiscate, take away export your asset, but the government
• 1:03:40
  might not exist or change over tomorrow.
• 1:03:42
  So yes, multitude of different risk factors to take into
• 1:03:46
  consideration. So I, I would not necessarily
• 1:03:49
  put half my basket, certainly when I don't do that, but I
• 1:03:52
  brought a lot of silver elephant.
• 1:03:53
  I, I'm a CEO silver elephant in, in clean tax.
• 1:03:55
  So all my equities are in silver elephant clean tax.
• 1:03:57
  Otherwise it's in real estate and gold and silver bullions.
• 1:04:01
  Yeah, yeah, be be diversified. But there is a place for a lot
• 1:04:05
  of people with with mining equities.
• 1:04:08
  John, I want to say thank you on behalf of myself and all the
• 1:04:11
  people out there, thousands of people that watch this
• 1:04:14
  interview. You have a deep understanding.
• 1:04:18
  You've given us some keen insights to how the world works
• 1:04:21
  and how precious metals fit into that.
• 1:04:25
  Is there anything that I forgot to ask you?
• 1:04:27
  Any parting words? Yeah, just let me give a A2
• 1:04:29
  minute parting words. Says Lebanon, says fish 1192
• 1:04:31
  minutes 1. Is that a mining, especially the
• 1:04:34
  mining universe is the most asymmetric market that I aware
• 1:04:38
  of. And this is talking to I've been
• 1:04:39
  around for 25 years when I told my, when I talking to my
• 1:04:42
  counterpart and industry peers, we sometimes talk about do you
• 1:04:45
  know this company? Do you know that company?
• 1:04:47
  I got some shares because maybe I've been pushed to private
• 1:04:49
  placements and I sometimes subscribe to some private
• 1:04:52
  placement that's been pushed to me by my broker.
• 1:04:55
  Like like every even we scratch our heads like we don't have a
• 1:04:58
  better win with anybody else because you don't know there's
• 1:05:01
  so many things can go wrong and they're, they're hidden in
• 1:05:04
  closets. So even the most astute industry
• 1:05:07
  insiders don't have a better win win race.
• 1:05:11
  It's just like you guys, like you can only pray that when you
• 1:05:14
  win, you get a big fight backer, but when you lose, at least you
• 1:05:17
  got a little bit of money back. So, so that's it's important
• 1:05:20
  step specification. And the other thing I want to
• 1:05:22
  touch briefly on one more minute is silver elephant, because the
• 1:05:25
  company is endorsed, some pain is suffering.
• 1:05:27
  It is in production right now of, of, of areas just outside of
• 1:05:31
  the core and the core is being cancelled.
• 1:05:33
  Our, our mining production contract is cancelled by the
• 1:05:35
  government. Berlivia is going through the
• 1:05:38
  turmoil, but a new government has been put in place.
• 1:05:40
  We're in, in, in discussion with them to restate our mining
• 1:05:44
  production contract. So the hope is still there.
• 1:05:47
  The the discussion is active. The company is pursuing all
• 1:05:49
  avenues and renamed optimistic to get our contract restated
• 1:05:52
  because the contract is cancelled for the reason of
• 1:05:54
  quote of quote illegal mining. There's some other opportunist,
• 1:05:58
  opportunist mining companies that's kind of like that was
• 1:06:02
  circling our project shock and I certainly our project.
• 1:06:04
  So. So unfortunately there is a
• 1:06:06
  lapse of judgement by we believe by the government and error was
• 1:06:10
  made. But we remain optimistic on
• 1:06:12
  working still overtime to guide our mining country state of
• 1:06:15
  which it has over 100 million ounces.
• 1:06:17
  In the meantime, the company is generating revenue of of some of
• 1:06:21
  the areas that belongs to the company and outsourced company
• 1:06:24
  and is, is, is is continue to to be operating in mining today.
• 1:06:28
  Awesome, awesome. I'm going to pull up the company
• 1:06:31
  website if that's OK just for one yes, if anybody wants to
• 1:06:35
  head out, it is silver Elephant or I'm sorry, silver El ef.com
• 1:06:42
  correct. And you guys are traded on the
• 1:06:44
  TSX with the symbol ELEF and on the OTCSILEF and you can learn
• 1:06:52
  all about the company there. It's a great website and.
• 1:06:56
  And Ron, if, if, if, if, if like the company's market cap is
• 1:06:59
  around 20 and and we're producing cash, we don't have
• 1:07:03
  debt. And then but if the company
• 1:07:05
  doesn't get the contract back in the immediate, there's no much
• 1:07:09
  downside. But the upside is the project
• 1:07:11
  that the resource is world class over 100 million oz.
• 1:07:14
  So if we manage to get our asset back, looking at some of the
• 1:07:17
  peer valuation, there are other trading off between 500 million
• 1:07:20
  to a billion dollars. So you're looking at a lot of
• 1:07:23
  upside and downside is really limited.
• 1:07:25
  So I I recommend to your audience to take a look at it
• 1:07:27
  and feel free to guide with me. Just e-mail
• 1:07:30
  info@silveroutlook.com or show me at DM at my Twitter.
• 1:07:35
  Just Google or just go to search on X on John Lee Silver
• 1:07:40
  Elephant. Sounds good, John, thank you so
• 1:07:43
  much. I can't wait till we see how
• 1:07:45
  this unfolds next time we speak six months or so from now.
• 1:07:49
  But on behalf of myself, and like I said, all the people out
• 1:07:52
  there, thousands of people who've joined us, thanks for
• 1:07:55
  being here and we'll look forward to talking to you next
• 1:07:58
  time. A pleasure smile.
• 1:08:00
  Thank you.