Latest / The Crest Report / 23,000 Jobs Gone, Gold Is Roaring Back, and Boomers Are Getting a Historic Rug Pull

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23,000 Jobs Gone, Gold Is Roaring Back, and Boomers Are Getting a Historic Rug Pull · The Crest Report

0:08
SPEAKER_00: From Golden Crest Metals, this is the Crest Report, where markets meet reality.
0:14
SPEAKER_00: Your weekly briefing on the economy, gold, silver, and protecting what you've built.
0:19
SPEAKER_00: And now, here's your host, Jeremy Harrell.
0:24
SPEAKER_01: Well, hello, everybody, and welcome to the Crest Report.
0:28
SPEAKER_01: Good to have you here.
0:30
SPEAKER_01: It is Saturday, and we've got some news surrounding precious metals that you've been waiting for all week and uh that you're gonna like to hear.
0:39
SPEAKER_01: It looks like things are looking good.
0:41
SPEAKER_01: Things are on the rise for gold, silver, palladium, and platinum.
0:47
SPEAKER_01: And you being right here locked and loaded on the crest report is gonna give you all the information that you need in order to make the best informed decision moving forward for your portfolio.
0:59
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1:11
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1:17
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1:23
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1:26
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1:31
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1:37
SPEAKER_01: So let's just get right into it today, folks.
1:40
SPEAKER_01: We got a lot of news to get through, and of course, we'll take the uh the periodic breaks here so that we can give you the number again, give you the website again, and let you know how you can be eligible for up to$25,000 of free silver.
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3:02
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3:09
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3:13
SPEAKER_01: So without any further ado, let's just get right into it.
3:17
SPEAKER_01: As we do every week, we've got different segments in which we're gonna break down our analysis of the price of precious metals, the price of gold, silver, palladium, and platinum today.
3:28
SPEAKER_01: The first thing that we're going to do is we're gonna spend time talking about the economy and the jobs report that really nobody saw coming.
3:37
SPEAKER_01: What that means for the future, where we are uh with our economy, and uh, you know, the debt is increasing at a faster rate every single day.
3:47
SPEAKER_01: $40 trillion, folks.
3:49
SPEAKER_01: Not good.
3:50
SPEAKER_01: Not good for anybody.
3:51
SPEAKER_01: I don't care if you're the biggest economy in the world, I don't care if you got the best this and the best that.
3:55
SPEAKER_01: $40 trillion in debt, not good.
3:58
SPEAKER_01: So we're gonna spend some time in the first uh segment today talking about the economy, the number, the revisions, uh, the labor force participation, what it means for the Fed, X, Y, and Z.
4:12
SPEAKER_01: Second group of the uh that we're gonna get to today is the the CPI and the CPI uh numbers.
4:19
SPEAKER_01: We're gonna pull that information from CNBC, U.S.
4:22
SPEAKER_01: News, and uh other sources that we'll get into when we get into that segment.
4:28
SPEAKER_01: But um, you know, what economists expect, why it matters so much right now, why it uh might become uh even hotter, ladies and gentlemen, why what what why it might come in even hotter than expected, and of course the gold and silver reaction to that.
4:43
SPEAKER_01: We're gonna get into the third segment, which we're gonna be talking about.
4:47
SPEAKER_01: Ah, it's a problem every single week.
4:50
SPEAKER_01: It's a topic every single week, and I I gotta be honest with you, I uh I like you can't wait until this is not a topic anymore, and that is the Iranian conflict.
5:00
SPEAKER_01: The Iranian war, whatever you refer to it as, it's not been doing good for our economy.
5:06
SPEAKER_01: Now, are there upsides to it?
5:08
SPEAKER_01: Some would say yes, some would say no, that's up to you to decide.
5:11
SPEAKER_01: But we're not here to talk about that today.
5:12
SPEAKER_01: We're here to talk about its effect on precious metals, which is in turn affecting you and your portfolio.
5:20
SPEAKER_01: So, a few things that we're gonna talk about in that segment.
5:23
SPEAKER_01: The uh the biggest development of the week.
5:26
SPEAKER_01: We're also gonna be talking about conditions added by both the United States and Iran, which I would say are pretty much, you know, uh conditions that will not be agreed upon, at least at this point.
5:37
SPEAKER_01: I mean, they're they're they're far out there conditions, and you even have President Trump coming back in a response to those conditions with a we expect reimbursement for every American lost.
5:48
SPEAKER_01: American, every American life lost.
5:50
SPEAKER_01: So, you know, how do you think Iran's gonna respond to that one?
5:53
SPEAKER_01: Sure, we'll give you restitution and reimbursement for everything.
5:56
SPEAKER_01: Uh Trump's warning and also Brent fell 11.3% in one day, what that means for your portfolio in the fourth segment of today's show.
6:07
SPEAKER_01: We're obviously going to dive deep into gold, as we do every week, gold and silver, back to back, where we're at, what the pricing looks like, why it responded the way it did, what we can expect with the current news of the world right now and the conflicts going on in the world right now.
6:23
SPEAKER_01: And then in the next segment of the show, we're gonna be talking about um are boomers getting a historic rug pull?
6:32
SPEAKER_01: That's a good question.
6:34
SPEAKER_01: Is the boomer generation getting a historic rug pull?
6:37
SPEAKER_01: Diamond says the market could break.
6:39
SPEAKER_01: Capital One closed, Trump accounts.
6:43
SPEAKER_01: So we're gonna be getting into that as well.
6:45
SPEAKER_01: And then the very last stage of the day jobs gone, inflation's still here, AI going rogue.
6:51
SPEAKER_01: We still got updates on that, and gold is still the one thing that they can't print.
6:56
SPEAKER_01: You can add silver to that too.
6:58
SPEAKER_01: Again, at any time, ladies and gentlemen, during the show today, if you want to give us a call, we do have somebody on standby.
7:04
SPEAKER_01: 888-991-6222.
7:08
SPEAKER_01: 888-991-6222.
7:11
SPEAKER_01: GoldenCrest Medals.com slash report or text a word report to 638-257 or medals at M-E-T-A-L-S.
7:21
SPEAKER_01: Let's get right to it.
7:23
SPEAKER_01: I'm not getting any younger, and neither are you.
7:26
SPEAKER_01: So, first segment here.
7:28
SPEAKER_01: The economy lost 23,000 jobs in July.
7:34
SPEAKER_01: I don't think anybody saw that coming.
7:37
SPEAKER_01: We've had so many months back to back to back of positive, unexpected numbers in the positive direction, beating expectations month after month after month.
7:48
SPEAKER_01: So here we come, bam! July we get 23,000 jobs lost.
7:54
SPEAKER_01: The economy shed 23,000 jobs in July, and economists are expecting gains.
8:00
SPEAKER_01: Uh economists expected gains, excuse me, of 83,000.
8:04
SPEAKER_01: Now that is a swing of over 100,000 jobs in the wrong direction.
8:08
SPEAKER_01: I don't think anybody could have predicted that.
8:11
SPEAKER_01: Economists didn't predict that either.
8:13
SPEAKER_01: The revisions, well, they make it worse.
8:18
SPEAKER_01: May was revised down by 66,000.
8:21
SPEAKER_01: June was revised down by 37,000.
8:25
SPEAKER_01: Combined, that's 103,000 fewer jobs than previously reported.
8:29
SPEAKER_01: The 12-month average is now just 34,000 jobs per month.
8:35
SPEAKER_01: That is the weakest hiring pace in years.
8:40
SPEAKER_01: Where did all these jobs go?
8:42
SPEAKER_01: Because that's a question you gotta see, you gotta ask yourself.
8:44
SPEAKER_01: If you're gonna sit here and you're going to get the numbers, okay, we're losing this amount and this many jobs.
8:51
SPEAKER_01: We it's 103,000 fewer jobs than previously reported.
8:54
SPEAKER_01: Where did they go?
8:56
SPEAKER_01: Well, the government lost 53,000 jobs.
8:59
SPEAKER_01: And anytime the government loses jobs, I'm okay with that.
9:04
SPEAKER_01: And this is actually on purpose.
9:06
SPEAKER_01: This is not by accident.
9:07
SPEAKER_01: This is the Trump administration reducing the size of government.
9:11
SPEAKER_01: Now, jobs are jobs, I get it, but private sector jobs are what you really want to focus on.
9:17
SPEAKER_01: So let's get to the private sector jobs.
9:19
SPEAKER_01: Retail law, and again, I'm not dismissing the 53,000 jobs that were lost in the government.
9:24
SPEAKER_01: If you were a government employee, you know, we you have our, you know, you have our empathy, you have our our uh you know, thoughts and prayers that everything's gonna work out for you.
9:35
SPEAKER_01: And but I think most people that are listening to this show agree that the smaller the government, the better for your individual wealth, freedom, X, Y, and Z.
9:50
SPEAKER_01: So now let's get into the private sector jobs because the private sector jobs are what makes the world go round.
9:56
SPEAKER_01: Retail lost 19,000, while financial services lost 14,000.
10:02
SPEAKER_01: Leisure and hospitality, you know, your hotels and vacation spots and things like that, they lost 40,000.
10:10
SPEAKER_01: Healthcare was the only bright spot, go figure.
10:13
SPEAKER_01: Seems to be that way all the time.
10:15
SPEAKER_01: Adding 22,000.
10:17
SPEAKER_01: But even that was below its recent trend.
10:20
SPEAKER_01: So if you wanted to dive deeper into that, you know that you're you're you're getting a little bit more uh further away from what you know our message is today, which is pertaining to these things having an effect on um gold and silver.
10:34
SPEAKER_01: The jobs are lost, they're lost.
10:36
SPEAKER_01: But if you wanted to dive deeper into that, you know, look into what retail jobs were lost, look into what financial service jobs were lost, look into leisure and hospitality.
10:44
SPEAKER_01: Now, one thing that you know can't replace AI is leisure and hospitality, unless those leisure and hospitality jobs were people that were handling people's schedules and people that were handling people's, you know, day-to-day itinerary, because IA or A, excuse me, IA, AI has taken a lot of jobs.
11:01
SPEAKER_01: AI has reportedly taken over 200,000 jobs in this country, and that's just going to be the nature of the beast on that one.
11:07
SPEAKER_01: I'm not trying to make an excuse for anybody.
11:09
SPEAKER_01: Jobs lost or jobs lost.
11:11
SPEAKER_01: But again, not on the not good.
11:14
SPEAKER_01: We need them to go in the other direction.
11:16
SPEAKER_01: The unemployment trick, the official unemployment rate, fell to 4.1%.
11:23
SPEAKER_01: Sounds good, but here's the catch.
11:26
SPEAKER_01: It fell because 1.4 million people left the labor force entirely.
11:31
SPEAKER_01: Stopped looking.
11:33
SPEAKER_01: We've heard that before, right?
11:35
SPEAKER_01: You've heard that before.
11:36
SPEAKER_01: We're not, this isn't foreign to us.
11:37
SPEAKER_01: We've heard people say, look, we've just stopped looking.
11:40
SPEAKER_01: When people give up looking for work, they're no longer counted as unemployed.
11:46
SPEAKER_01: That's not a healthy labor market.
11:48
SPEAKER_01: Not by any stretch of the imagination.
11:52
SPEAKER_01: Now, the labor force participation, 61.4%, down 0.7 percentage points since January.
12:01
SPEAKER_01: Nearly 1.4 million people have disappeared from the workforce this year alone.
12:06
SPEAKER_01: That is the real story behind the headline number.
12:09
SPEAKER_01: Now, how those people are making a living?
12:11
SPEAKER_01: Probably something to do with government subsidies, probably something to do with taxpayer government subsidies.
12:18
SPEAKER_01: Now, whether you like that or whether you don't, I do feel that we have far too many easy pathways to get income in this country.
12:26
SPEAKER_01: And some people can make a better living by getting subsidized by the taxpayer than they can by being in the workforce.
12:33
SPEAKER_01: I get it.
12:34
SPEAKER_01: Something that shouldn't be taken advantage of.
12:36
SPEAKER_01: And I think, unfortunately, we know that they are mostly taken advantage of by people from all walks of life.
12:45
SPEAKER_01: So what does that mean for the Fed?
12:47
SPEAKER_01: Because everybody's eye is on the Fed.
12:51
SPEAKER_01: Well, before this report, September rate hike odds were at 80%.
12:58
SPEAKER_01: After this report, um the uh those odds dropped sharply.
13:05
SPEAKER_01: The Fed cannot easily hike rates into a job-losing economy.
13:12
SPEAKER_01: The jobs shock may have just saved September.
13:18
SPEAKER_01: So let's look at the bigger picture.
13:20
SPEAKER_01: Let's go at a 5,000-foot overview.
13:22
SPEAKER_01: Climb aboard this hot air balloon with me and let's let's let's rise up and look down.
13:26
SPEAKER_01: Here's the big picture.
13:28
SPEAKER_01: Here's the kitten caboodle.
13:30
SPEAKER_01: The meat and potatoes, and where the rubber meets the road.
13:33
SPEAKER_01: The economy added an average of 34,000 jobs a month over the past 12 months.
13:41
SPEAKER_01: Population growth alone requires about 150,000 new jobs per month.
13:49
SPEAKER_01: We're about five times less than that.
13:52
SPEAKER_01: And that's just to stay even.
13:54
SPEAKER_01: We're not keeping up.
13:57
SPEAKER_01: That gap is what stagflation looks like from the inside.
14:04
SPEAKER_01: Now, whether you support President Trump or whether you don't, and whether there are strong foundations and facets to this economy, or whether you don't believe there are, what you do know is what you feel in your wallet.
14:21
SPEAKER_01: What you do know is what you feel in your pocketbook if you're from the Northeast pocketbook, or in your purse, your bank account, or in your portfolio.
14:31
SPEAKER_01: What is happening in your day-to-day life financially?
14:35
SPEAKER_01: That's what everybody knows.
14:36
SPEAKER_01: Now I could sit here and tell you that there are two ways to make people happy when the economy is hurting.
14:44
SPEAKER_01: There's the government way, which you could come in, hire a bunch of new government workers, make a bunch of government programs, quickly jump in and ease the pain, and that's a quick fix.
14:58
SPEAKER_01: Unfortunately, when you do that, when you have the government ease the pain and give more money to people, you have to either print money or you have to raise taxes or you have to get rid of something else and sacrifice something else, and it's a quick fix.
15:13
SPEAKER_01: It is a band-aid on a bullet hole.
15:16
SPEAKER_01: And big government will do that every time.
15:19
SPEAKER_01: The other way that you fix it is you invest into the private sector.
15:23
SPEAKER_01: Well, the problem with investing into the private sector, which is typically what Republicans like to do as opposed to the Democrats that want the quicker fix for the people that need relief right now, and I get it.
15:33
SPEAKER_01: Look, we have empathy.
15:34
SPEAKER_01: Everybody that if you need relief, you need relief.
15:36
SPEAKER_01: It is what it is.
15:37
SPEAKER_01: And you're probably gonna and you're probably gonna embrace whoever brings that relief to you.
15:41
SPEAKER_01: But when you invest in the private sector and when you invest in actual job creation and manufacture growth, manufacturing growth and things like that, that takes time.
15:50
SPEAKER_01: And unfortunately, the consumer and the person out there who's just trying to live day to day, week to week, month to month, they don't have that time in some cases and not willing to give that time in a microwave society.
16:00
SPEAKER_01: Now, you may not know this, but there are about 80,000 manufacturing plants being built in this country right now.
16:07
SPEAKER_01: These are investments from all over the country, inside and around the globe.
16:12
SPEAKER_01: Investments that our president has been able to secure it.
16:15
SPEAKER_01: Well, the problem with that to the day-to-day person is we're not seeing that yet.
16:21
SPEAKER_01: And that's all we need to understand.
16:23
SPEAKER_01: We're not seeing that yet.
16:26
SPEAKER_01: The consumer, the voter, and the investor is not seeing that yet.
16:32
SPEAKER_01: So that's kind of what stagflation is looking like.
16:36
SPEAKER_01: And nobody has a crystal ball, but I can I can tell you the quicker we stop this Iranian nonsense that's going on right now, back and forth.
16:45
SPEAKER_01: And when I say nonsense, I mean not a clear uh message or direction.
16:52
SPEAKER_01: It's just gonna get worse because not knowing brings fear.
16:57
SPEAKER_01: Let's get into segment number two, which is the CPI.
17:01
SPEAKER_01: The most important number of the week.
17:04
SPEAKER_01: The July co the July Consumer Price Index.
17:08
SPEAKER_01: Say that a few times fast.
17:10
SPEAKER_01: The government's official inflation report, this single number will move gold, silver, stocks, oil, and the dollar all in the same morning.
17:25
SPEAKER_01: So what are economists expecting?
17:29
SPEAKER_01: The headline CPI, 3.4% year over year, down slightly from 3.5% in June.
17:40
SPEAKER_01: Core CPI, which means food, energy, 2.5%.
17:47
SPEAKER_01: If those numbers hold, it is modest progress, but still nowhere near the Fed's 2.2 or 2% target.
17:58
SPEAKER_01: So why does it matter so much right now that we're talking about this as it pertains to your investment in precious metals?
18:07
SPEAKER_01: The jobs market just lost 23,000 jobs.
18:12
SPEAKER_01: If inflation also shows a cool, like a cool down, a cool reading this week, the case for a September rate hike collapses.
18:22
SPEAKER_01: Rate hike odds already fell sharply after the jobs report.
18:26
SPEAKER_01: A soft CPI would seal that.
18:29
SPEAKER_01: Okay?
18:29
SPEAKER_01: So keep your eye on that.
18:31
SPEAKER_01: Keep your eye on the Fed.
18:33
SPEAKER_01: Keep your eye on what they're gonna do.
18:34
SPEAKER_01: Kevin Wars, the new Fed chair, we'll keep you posted, and we will continue to deliver the message uh every single week.
18:42
SPEAKER_01: And the the you know, the current news and the updates on that.
18:47
SPEAKER_01: Oil prices surged more than 20% in July.
18:50
SPEAKER_01: As the Iranian ceasefire collapsed again, energy feeds directly into CPI.
18:56
SPEAKER_01: June CPI was soft because June had the ceasefire.
19:00
SPEAKER_01: July had the war restarting.
19:03
SPEAKER_01: That would push the number back up.
19:06
SPEAKER_01: Maybe not would, maybe could is the proper word to use there.
19:10
SPEAKER_01: That could push that number back up.
19:14
SPEAKER_01: Kiplinger's warning.
19:19
SPEAKER_01: Staff economists flagged something most people are missing right now.
19:24
SPEAKER_01: Fertilizer.
19:26
SPEAKER_01: Now, I myself live in the great grand state of Iowa, ladies and gentlemen.
19:33
SPEAKER_01: And in the great state of Iowa, farming, cornfields, fertilizer, water, keeping the soil clean, purged, doing regenerative farming.
19:45
SPEAKER_01: You're talking stuff right up my alley.
19:48
SPEAKER_01: One-third of the world's fertilizer supply is produced in the Persian Gulf region.
19:56
SPEAKER_01: The straight disruption is now starting to hit food supply chains.
20:00
SPEAKER_01: Food prices could come under pressure by the end of the year if something isn't done.
20:05
SPEAKER_01: And that will show up in future CPI reports as well.
20:08
SPEAKER_01: So how is uh gold and silver reacting to all of this?
20:12
SPEAKER_01: Well, if the CPI comes in soft this week, gold and silver rally as rate hike fears are easing.
20:25
SPEAKER_01: I'd like to see that.
20:27
SPEAKER_01: I'd love to see gold and silver rally.
20:29
SPEAKER_01: Wouldn't it be nice to see silver jump back up to like 80 bucks an ounce just by that news?
20:35
SPEAKER_01: Wouldn't it be nice to see gold jump up to$4,600 an ounce?
20:40
SPEAKER_01: Boy, that would be a heck of a step in the right direction, wouldn't it?
20:43
SPEAKER_01: After a lackluster last couple months.
20:47
SPEAKER_01: Absolutely, that'd be wonderful.
20:49
SPEAKER_01: We'll see what happens.
20:53
SPEAKER_01: If CPI comes in hot, short-term pressure on metals, as rate hike, fears return.
21:01
SPEAKER_01: Either way, the structural case for owning physical precious metals does not change based on one month of data.
21:11
SPEAKER_01: By the time this airs, CPI will already be out.
21:16
SPEAKER_01: That number matters.
21:19
SPEAKER_01: But here is the thing that the audience needs to hear.
21:25
SPEAKER_01: Whether inflation is 3.3%, or whether it's 3.5% this month, it is still more than 50% of the Fed's target.
21:35
SPEAKER_01: One report does not fix five years of above target inflation.
21:42
SPEAKER_01: So where are we at right here now?
21:44
SPEAKER_01: 165, 170 days into the the conflict here?
21:53
SPEAKER_01: Iran and Oman are very close to a straight deal.
21:58
SPEAKER_01: This time it might be real.
22:00
SPEAKER_01: Now we're going to cite the Hormuz Strait Monitor.
22:04
SPEAKER_01: We're going to cite CNN here for this.
22:07
SPEAKER_01: The biggest development this week is Iran's foreign minister said that Iran and Oman are very close to a deal on managing the Strait of Hormuz.
22:16
SPEAKER_01: Oman's foreign minister called the talks positive and constructive, although that doesn't mean anything when you're talking to Iran.
22:23
SPEAKER_01: I think we can all agree on that.
22:26
SPEAKER_01: But, however, that is more optimism than we've seen from the diplomatic side in weeks, and we're ready for something.
22:33
SPEAKER_01: Weeks of a stalemate going back and forth and back and forth with no real expectations met or any promises made and met.
22:42
SPEAKER_01: It gets it wears on you, doesn't it?
22:47
SPEAKER_01: Raise your hand if you're watching right now.
22:49
SPEAKER_01: Whether you're in your car, I mean listening right now, whether you're in your car, whether you're listening at home, whether you're listening uh out if you're out on a run, if you're out on a walk, raise your hand in the sky if you are sick and tired of this back and forth with Iran.
23:08
SPEAKER_01: Just over it.
23:10
SPEAKER_01: Like I look, I'm a supporter of stopping people that say that we're this close to getting a nuke and we can wipe out the whole world, and we will.
23:20
SPEAKER_01: But I'm also a fan of, you know, not beating a dead horse.
23:26
SPEAKER_01: If you know what I mean.
23:28
SPEAKER_01: Staying in a situation when you don't need to.
23:30
SPEAKER_01: You do need you do have to come to a point where you say, okay, it's time to, you know what, or get off the pot, right?
23:39
SPEAKER_01: Three routes now exist.
23:42
SPEAKER_01: As negotiations continue, three different transit routes have emerged through the strait, each with varying levels of risk.
23:49
SPEAKER_01: Ships are moving through more carefully than before, but they are moving, and that's a good sign.
23:57
SPEAKER_01: Now, Iran has added these conditions, and I don't think, look, when you start, especially with the president that we have right now, when you start demanding things, it doesn't usually go so good.
24:12
SPEAKER_01: It usually gets met with a counterpunch of uh list of demands or statements, which doesn't usually work out so well.
24:19
SPEAKER_01: But here we go.
24:21
SPEAKER_01: Even if the street uh the deal is signed, Iran's former minister, or foreign minister, excuse me, warned it would still be, quote, subject to other conditions, including compensation from the U.S.
24:34
SPEAKER_01: for war damages.
24:36
SPEAKER_01: They're talking in the tunes of like$400 billion.
24:39
SPEAKER_01: A straight deal and a peace deal are two different things.
24:44
SPEAKER_01: U.S.
24:45
SPEAKER_01: CENTCOM is also still active.
24:47
SPEAKER_01: Under the naval blockade, CENTCOM has redirected 44 commercial vessels, disabled two, and boarded to.
24:56
SPEAKER_01: The military posture has not changed, and even as diplomacy inches forward, the military posture stays where it's at.
25:08
SPEAKER_01: So Trump had a warning back to them.
25:11
SPEAKER_01: Trump said the strait would be reopened, quote, soon, or he would launch a harsh new attack on Iran.
25:20
SPEAKER_01: That is the the same um threat-then pause pattern that the market has seen at least four times now.
25:30
SPEAKER_01: You ever uh, and I'm not equating this to the situation that we're dealing with here, but it does, it does ring true in you easily if you're using it as an analogy, the boy who cried wolf.
25:45
SPEAKER_01: The boy cries wolf, the boy cries wolf, the boy cries wolf, sooner or later people go, yeah, he's just playing with us.
25:52
SPEAKER_01: He's not he's not gonna do that.
25:56
SPEAKER_01: Well here's the thing, every time Trump says I'm gonna do it, he actually does it, but they don't care.
26:01
SPEAKER_01: They still take him to the next step.
26:05
SPEAKER_01: So at some point here, are we just a are we just a dog chasing our tail?
26:08
SPEAKER_01: You know what I mean?
26:11
SPEAKER_01: Not to say I'm not for getting rid of evil in this world, but you know, when 350 plus million Americans or 370 million Americans are saying, all right, we're getting a little fatigued with this, you know, what's the objective?
26:26
SPEAKER_01: Have we met it?
26:27
SPEAKER_01: Then let's meet it and let's let's move on.
26:31
SPEAKER_01: So I guess we'll see.
26:32
SPEAKER_01: The credibility of the threat has faded with each time that he gives the threat, with each warning.
26:41
SPEAKER_01: Brent fell 11.3% in a day.
26:44
SPEAKER_01: When the latest pause and strikes was announced, Brent fell 11.3% in a single session.
26:49
SPEAKER_01: The largest single-day oil drop since the first ceasefire in April.
26:54
SPEAKER_01: The oil market is starving for good news and reacts violently to any peace signal.
27:01
SPEAKER_01: You know, I was I was doing my news show this week and something hit me.
27:05
SPEAKER_01: So I decided to go in and do a little bit of research.
27:07
SPEAKER_01: You know what I found?
27:08
SPEAKER_01: Here's what I found.
27:10
SPEAKER_01: I found that in 2022, when oil was$120 plus dollars a barrel, gas was between$440 and$480.
27:24
SPEAKER_01: Isn't gas somewhere around that right now?
27:28
SPEAKER_01: But yet we're only at about$80 a barrel?
27:31
SPEAKER_01: So how can we be$40 less a barrel, right?
27:35
SPEAKER_01: Stay with me, but be paying the same amount at the pump.
27:40
SPEAKER_01: Here's the kicker.
27:41
SPEAKER_01: Especially when there was no actual disruption in the supply chain, the supply chain just changed geographic locations, meaning that oil and gas for those countries that needed it were still being produced and they were buying it right from the good old US of A.
28:00
SPEAKER_01: So riddle me that one.
28:03
SPEAKER_01: How do you pay the same amount at the pump for gas when you're$40 less a barrel of oil on the global market?
28:14
SPEAKER_01: Again, is there a little price gouging going on?
28:18
SPEAKER_01: Should the oil and gas companies be held criminally responsible, negligent, downright guilty?
28:25
SPEAKER_01: I think maybe they have something to do with it, don't you?
28:30
SPEAKER_01: Now, for the portfolio, if the Iran-Oman straight deal closes, oil falls, inflation eases, the Fed holds or cuts, and gold gets a near-term lift as real estate, uh real rates decline.
28:46
SPEAKER_01: If talk collapses again, oil will spike, inflation will reaccelerate, rate hike, bets probably return that it's going to be in favor of it, and the case for the hard assets strengthen from the other direction.
29:03
SPEAKER_01: Either path leads back to the same conclusion.
29:06
SPEAKER_01: Now let's get to gold.
29:09
SPEAKER_01: Gold sitting there hovering around$4,500 this week.
29:12
SPEAKER_01: Isn't that nice to see again?
29:14
SPEAKER_01: The best week since January, and Deutsche Bank says that it's still in its explosive range.
29:23
SPEAKER_01: Well, if you got some gold and silver, ladies and gentlemen, then that's exactly where you want to be.
29:26
SPEAKER_01: You want to be in the explosive range.
29:28
SPEAKER_01: Don't you?
29:29
SPEAKER_01: For your portfolio?
29:31
SPEAKER_01: I know I do.
29:34
SPEAKER_01: $4,450 per ounce, a two-month high.
29:40
SPEAKER_01: Best week since January, up 30% compared to one year ago.
29:44
SPEAKER_01: What a jump.
29:45
SPEAKER_01: The Wall Street Journal ran a headline this week.
29:48
SPEAKER_01: The headline was titled This Gold is Roaring Back to Life.
29:53
SPEAKER_01: Yeah, it is.
29:54
SPEAKER_01: It's alive.
29:56
SPEAKER_01: It's alive.
29:58
SPEAKER_01: Deutsche Bank, still in its explosive phase.
30:01
SPEAKER_01: I like that.
30:02
SPEAKER_01: Published a note this week sticking to its year-end target and calling gold, quote, still in its explosive stage.
30:08
SPEAKER_01: A phase, excuse me.
30:10
SPEAKER_01: This is a major global bank using that language.
30:14
SPEAKER_01: That is not fringe.
30:16
SPEAKER_01: That's Wall Street.
30:17
SPEAKER_01: Wall Street's using that language.
30:19
SPEAKER_01: You know how they like to be.
30:20
SPEAKER_01: Gold is seeing a markup and blah blah blah.
30:23
SPEAKER_01: No, no, no.
30:24
SPEAKER_01: Nope.
30:24
SPEAKER_01: They're saying it's in its explosive phase, because they know it's coming.
30:28
SPEAKER_01: What's Bloomberg say?
30:30
SPEAKER_01: Well, Bloomberg says gold is waking up to the Warsh Fed.
30:36
SPEAKER_01: Who's the Warsh Fed?
30:38
SPEAKER_01: Kevin Warsh.
30:39
SPEAKER_01: New Fed chairman.
30:40
SPEAKER_01: Not Jerome Powell.
30:42
SPEAKER_01: What was his nickname again?
30:44
SPEAKER_01: Oh, that's right.
30:46
SPEAKER_01: Too late.
30:48
SPEAKER_01: I know his pronouns are was were.
30:53
SPEAKER_01: Bloomberg's opinion piece this week said a weak dollar and peace talks, peace talk optimism have sparked a resurgence.
31:00
SPEAKER_01: The Warsh fed.
31:02
SPEAKER_01: Less predictable.
31:04
SPEAKER_01: More dollar and peace talks, right?
31:06
SPEAKER_01: More hawkish infl on inflation.
31:10
SPEAKER_01: It's being interpreted by the gold market as the reason to own more gold.
31:14
SPEAKER_01: Not less.
31:14
SPEAKER_01: More gold, not less.
31:16
SPEAKER_01: Again, ladies and gentlemen, I think this is a perfect time, as we're talking about more gold, not less, to get right back to 888-911-6222.
31:28
SPEAKER_01: You got a pen and paper?
31:30
SPEAKER_01: Got a pencil and paper?
31:32
SPEAKER_01: Are you listening and maybe got your phone handy?
31:34
SPEAKER_01: Type in the number.
31:35
SPEAKER_01: Don't have to call right now, although we're waiting for you, and somebody will answer the phone.
31:39
SPEAKER_01: Maybe it'll be Mr.
31:39
SPEAKER_01: Rich Jacoby himself, the man of the hour.
31:42
SPEAKER_01: 888-991-6222.
31:47
SPEAKER_01: Or text the word report to medals.
31:50
SPEAKER_01: That's texting the word report to M E T A L S or 638-257.
31:57
SPEAKER_01: Or just go to goldencrestmetals.com slash report.
32:00
SPEAKER_01: Guess what the offer is?
32:01
SPEAKER_01: A free portfolio review.
32:03
SPEAKER_01: You got one of those?
32:04
SPEAKER_01: Would you like it reviewed by experts?
32:05
SPEAKER_01: Well, gold and silver experts will be standing by to give you that free review.
32:12
SPEAKER_01: How about a free investor kit?
32:14
SPEAKER_01: I got one of those in the mail once.
32:16
SPEAKER_01: It was nice, felt important.
32:17
SPEAKER_01: How about up to$25,000 in free silver with qualified purchases?
32:21
SPEAKER_01: Again, I said this in the beginning of the show.
32:24
SPEAKER_01: Do you know what$25,000 of silver is going to look like in 20 years?
32:30
SPEAKER_01: I'll take it.
32:31
SPEAKER_01: Reach out today, goldencrestmetals.com slash reporter, 888-991-6222.
32:39
SPEAKER_01: Let's get back into the deep dive of gold.
32:53
SPEAKER_01: That is on top of JP Morgan's$6,000 by the end of Q4 target.
33:01
SPEAKER_01: Goldman and Sachs,$5,400 by the end of Q4.
33:05
SPEAKER_01: Wells Fargo,$6,300 by the end of Q4.
33:09
SPEAKER_01: And every single major institution, like I said last week, is above today's price.
33:15
SPEAKER_01: Every single one.
33:17
SPEAKER_01: They got skin in the game, folks.
33:19
SPEAKER_01: I imagine you do too.
33:21
SPEAKER_01: Or imagine you want some skin in the game, so what does that tell you?
33:25
SPEAKER_01: You know what to do.
33:26
SPEAKER_01: Pick up that phone.
33:30
SPEAKER_01: China just ramped up its buying.
33:32
SPEAKER_01: Reuters confirmed this week that China's gold reserve rose by the most since October 2023, in July.
33:42
SPEAKER_01: Approximately 20 tones in one month.
33:46
SPEAKER_01: The South China Morning Post called China's buying Beijing hoarding.
33:51
SPEAKER_01: BMO analysts said that China's stockpile could surpass the U.S.
33:56
SPEAKER_01: within five years.
33:57
SPEAKER_01: Could, not would, could.
33:59
SPEAKER_01: Goldman Sachs hinted that China's real accumulation may be more than double official numbers.
34:08
SPEAKER_01: I don't know if you saw this week, but Senator Rand Paul was standing outside the Fed.
34:12
SPEAKER_01: I mean, not the Fed, excuse me.
34:14
SPEAKER_01: Senator Rand Paul was standing outside Fort Knox.
34:18
SPEAKER_01: As specific individuals are allowed to go in and lay eyes on what's supposed to be a lot of gold and a lot of silver held by the United States of America.
34:32
SPEAKER_01: Will it be there?
34:33
SPEAKER_01: This is something we've been talking about for a long time.
34:36
SPEAKER_01: I believe they're supposed to have, I don't know, I can't remember the exact ounce number that they're supposed to have, but it's big, ladies and gentlemen.
34:47
SPEAKER_01: So I guess we'll see.
34:48
SPEAKER_01: Do we have it or don't we?
34:51
SPEAKER_01: Does China really have it?
34:52
SPEAKER_01: We get a lot of misinformation coming from China.
34:54
SPEAKER_01: I don't know.
34:55
SPEAKER_01: But the fact of the matter is the headlines are reading, they're buying and they're hoarding.
34:58
SPEAKER_01: So what should we be doing?
34:59
SPEAKER_01: The Bank of Korea's buying.
35:00
SPEAKER_01: South Korea's central bank is preparing its first physical gold purchase since 2013.
35:06
SPEAKER_01: That's not China.
35:08
SPEAKER_01: That is a U.S.
35:09
SPEAKER_01: ally.
35:10
SPEAKER_01: A G20 economy, quietly deciding that now's the time to add to their physical gold.
35:15
SPEAKER_01: First time in 13 years, Asia's making a structural shift toward gold.
35:20
SPEAKER_01: Why?
35:21
SPEAKER_01: Because there's there are they're understanding what we should all understand.
35:24
SPEAKER_01: There's a finite amount of it.
35:27
SPEAKER_01: And those who have will have.
35:29
SPEAKER_01: And those who don't will not.
35:32
SPEAKER_01: That's across multiple countries simultaneously in Asia.
35:38
SPEAKER_01: So, what do you have to say about that?
35:41
SPEAKER_01: Is that going to prompt you to buy?
35:44
SPEAKER_01: It should.
35:48
SPEAKER_01: If I hadn't just uh done an investment of silver, I might be doing another buy right now myself.
35:54
SPEAKER_01: But I'm gonna have to wait on that one.
35:56
SPEAKER_01: I still got some saving to do.
35:57
SPEAKER_01: But those out there who have, you know, already an SDEG or a savings account or a 401k or something, look and see what everybody else is doing.
36:05
SPEAKER_01: Copy that.
36:06
SPEAKER_01: Okay?
36:09
SPEAKER_01: The book price of gold.
36:11
SPEAKER_01: Here's something almost nobody talks about.
36:14
SPEAKER_01: The U.S.
36:14
SPEAKER_01: government still carries its gold reserves on the books at$42.22 per ounce.
36:21
SPEAKER_01: A price set in 1973.
36:23
SPEAKER_01: Anyone else want to tell me what happened in 1973?
36:27
SPEAKER_01: The gold, the money, the backing, something to do with that?
36:31
SPEAKER_01: A market value over$4,400.
36:35
SPEAKER_01: The real value is roughly a hundred times what is on government's books.
36:41
SPEAKER_01: If the U.S.
36:43
SPEAKER_01: ever re-evalues that gold, then it instantly generates hundreds of billions in paper gains.
36:50
SPEAKER_01: Some analysts think that that conversation is coming and coming soon.
36:56
SPEAKER_01: Imagine what that would look like for you then.
36:58
SPEAKER_01: Imagine what your portfolio would look like at that point.
37:02
SPEAKER_01: Now, let's jump into my favorite, which is silver.
37:07
SPEAKER_01: Silver at$65 an ounce this week.
37:09
SPEAKER_01: Man, it was nice to see it bounce back, wasn't it?
37:12
SPEAKER_01: For all my silver people out there, I'm gonna get a hell yeah! Seven-week high, up 75%, folks.
37:22
SPEAKER_01: Year over year, up 75% again, year over year.
37:28
SPEAKER_01: China just bought 62% more silver or they're buying silver and gold.
37:34
SPEAKER_01: But man, 75% year over year, let me take that.
37:40
SPEAKER_01: Around 65 to 66.41 doll per ounce, a seven-week high, up about 1% on the day, up 15% over the past month, up 75% compared to one year ago, from around$37 to$38 to 65 in 12 months.
37:58
SPEAKER_01: It actually jumped up to$120 at one point, so I think it's gonna go right back there.
38:03
SPEAKER_01: I don't know about you, but that's what I'm thinking.
38:04
SPEAKER_01: I'm optimistic about silver.
38:06
SPEAKER_01: I think that silver is a uh a commodity that people are in need of right now.
38:09
SPEAKER_01: It's a great conductor, it's what's needed in all this technology.
38:12
SPEAKER_01: So again, it's not just physical silver that you're investing in.
38:16
SPEAKER_01: You're investing into something that they're not getting enough of.
38:20
SPEAKER_01: When the July jobs report landed, showing 23,000 jobs in the negative, silver ripped higher and compressed the gold-silver ratio lower in a single session.
38:32
SPEAKER_01: The dollar fell to a two-week low.
38:35
SPEAKER_01: Rake hike bets unwound.
38:38
SPEAKER_01: Silver went up more than gold on a percentage basis, anyway.
38:42
SPEAKER_01: Exactly what happens when the monetary premium returns, guys.
38:45
SPEAKER_01: China just imported 62% more silver ore.
38:49
SPEAKER_01: China imports a silver-bearing ores surged 62.5% year over year in June to 219,000 tons.
39:02
SPEAKER_01: That is driven by one thing, the massive expansion of what did I just talk about?
39:06
SPEAKER_01: Things that are needed for conductors to build.
39:11
SPEAKER_01: Solar panels, that's right.
39:13
SPEAKER_01: Solar panels and electricity grid production in China.
39:16
SPEAKER_01: Big boom right now.
39:18
SPEAKER_01: Industrial demand is not slowing.
39:19
SPEAKER_01: It's accelerating.
39:20
SPEAKER_01: What do you need for that?
39:22
SPEAKER_01: Silver.
39:25
SPEAKER_01: Silver's low of$55 on July 16th was a seven-month low.
39:29
SPEAKER_01: It is now at a seven-week high.
39:32
SPEAKER_01: 66, 65.
39:34
SPEAKER_01: Hey, at least I didn't say 6'7, right?
39:37
SPEAKER_01: Now that is a$10 move, roughly 18% in less than 30 days.
39:42
SPEAKER_01: The floor held, and the bounce is real, and we now know it.
39:46
SPEAKER_01: It's been confirmed.
39:50
SPEAKER_01: The ratio dropped from near 69 to around 67 on the jobs report news.
39:57
SPEAKER_01: Still elevated versus historical norms, but when it compresses further, as it does in every gold bull cycle, silver moves faster than gold.
40:09
SPEAKER_01: Too bad it wasn't worth what gold is, right?
40:12
SPEAKER_01: I guess for the buy-in versus uh you know, versus liquidation, it is.
40:19
SPEAKER_01: Sixth consecutive year, though, that the world consumes more silver than it mines.
40:26
SPEAKER_01: How long can that go?
40:27
SPEAKER_01: I don't know.
40:27
SPEAKER_01: It's kind of like the economy conversation.
40:30
SPEAKER_01: How long can you actually have$40 trillion in debt?
40:36
SPEAKER_01: Doesn't really work out when you're spending what you're bringing in.
40:39
SPEAKER_01: Kind of doesn't really, kind of defeats the purpose.
40:42
SPEAKER_01: In this case, we are absolutely consuming far more silver than we're mining.
40:49
SPEAKER_01: How long do you think that's gonna you know go on for before you start seeing some major gains in your silver?
40:56
SPEAKER_01: China's 62% import surge in silver ore is one data point in a structural story that has been running for six consecutive years.
41:07
SPEAKER_01: The war didn't create this, the war ending does not fix this.
41:12
SPEAKER_01: Silver was$29 at the start of 2025.
41:16
SPEAKER_01: It hit$121 January of 2026.
41:19
SPEAKER_01: It pulled back to 55 in July, which is where the bottom was, which is where the basement is, and it's now climbing back up, folks.
41:27
SPEAKER_01: Up 75% year over year.
41:29
SPEAKER_01: The supply deficit, the industrial demand, and the monetary tailwind, they're still running.
41:35
SPEAKER_01: The dip was the war.
41:37
SPEAKER_01: Story didn't change.
41:39
SPEAKER_01: Now, see if we got enough time to get to these last two topics real quick here.
41:44
SPEAKER_01: The author of Rich Dad Poor Dad published a warning specifically aimed at baby boomers, saying they're set up for a historic rug pull.
41:53
SPEAKER_01: What could that be?
41:54
SPEAKER_01: Hmm.
41:55
SPEAKER_01: Hmm.
41:57
SPEAKER_01: Said you could even end up risk uh risk ending up homeless.
42:01
SPEAKER_01: That's his words.
42:04
SPEAKER_01: And he's been buying, uh he's been saying buy silver and gold and Bitcoin for years.
42:08
SPEAKER_01: He's saying it louder now.
42:12
SPEAKER_01: Here's the story that should wake everyone up.
42:14
SPEAKER_01: Capital One shut down hundreds of Trump organization accounts over money laundering concerns.
42:20
SPEAKER_01: If a bank can close accounts belonging to the most powerful man on the planet, what is stopping them from closing yours?
42:28
SPEAKER_01: It's not hypothetical, folks, it already happened.
42:30
SPEAKER_01: And it didn't just happen to him, it happened to other people as well.
42:33
SPEAKER_01: My pillow guy, Mike Lindell, it happened to him as well.
42:35
SPEAKER_01: It happened to the truckers as well, who are doing protests.
42:40
SPEAKER_01: These people don't play games, folks.
42:41
SPEAKER_01: They run it all, they own it all.
42:44
SPEAKER_01: Don't let them run and own you too.
42:46
SPEAKER_01: There's one way around that.
42:50
SPEAKER_01: Question here for the listener is this if a bank can close Trump organization accounts, if Diamond is warning about leverage, and if people are calling this a historic rug pull, what percentage of your savings is in a system that those same people are warning you about right now?
43:11
SPEAKER_01: Ask yourself that question.
43:13
SPEAKER_01: What percent of your nest egg, of your savings right now, is in that system in which they call the shots and they can pull the rugs, they can close accounts, and they can wipe you out of existence?
43:24
SPEAKER_01: What percentage of your nest egg and retirement is at basically the the will of the big banks.
43:37
SPEAKER_01: If that percentage is, you know, 40% or higher, I'd think about doing something else.
43:44
SPEAKER_01: That's just me.
43:48
SPEAKER_01: Definitely something worth looking into.
43:50
SPEAKER_01: Evaluate.
43:51
SPEAKER_01: Reach out to goldencrestmetals.com.
43:54
SPEAKER_01: Slash report today.
43:56
SPEAKER_01: Evaluate.
43:59
SPEAKER_01: Again.
44:00
SPEAKER_01: Gold is one thing they can never ever print, folks.
44:05
SPEAKER_01: Silver's the one thing they can never ever print.
44:09
SPEAKER_01: Money's printed all the time.
44:11
SPEAKER_01: Digital dollar signs with digital numbers behind them.
44:15
SPEAKER_01: That's not physical.
44:17
SPEAKER_01: That's not in your home.
44:18
SPEAKER_01: That's not local.
44:18
SPEAKER_01: That's not secured by you.
44:20
SPEAKER_01: That's not secured by a third-party, you know, uh storage facility that it's not going to allow the federal government or big banks to get in and take it.
44:32
SPEAKER_01: It's yours.
44:33
SPEAKER_01: It's physical.
44:34
SPEAKER_01: You own it.
44:38
SPEAKER_01: Give yourself an evaluation today.
44:41
SPEAKER_01: Self-evaluate.
44:42
SPEAKER_01: See where you're at.
44:44
SPEAKER_01: Now I want to remind you one more time before we end the show today.
44:47
SPEAKER_01: And by the way, it's been a blast having you here.
44:49
SPEAKER_01: I love and enjoy doing the crust report every week.
44:52
SPEAKER_01: My name is Jeremy Harrell.
44:53
SPEAKER_01: It's always great to be here with you.
44:55
SPEAKER_01: I hope you come back every single week to listen to the Crest Report.
44:59
SPEAKER_01: I hope the information that we give you is um.
45:05
SPEAKER_01: I hope it steers you in a positive direction.
45:09
SPEAKER_01: The people that you'll call when you pick up the phone to call 888-991-6222.
45:16
SPEAKER_01: The people at Golden Crest Metals, their number one job is to inform you.
45:20
SPEAKER_01: Their number one goal is to inform you to make the best decision.
45:25
SPEAKER_01: And if you feel like you've been informed and if you trust the information that you're given, then maybe Golden Crest Metals is the company that you want to invest with.
45:36
SPEAKER_01: Maybe you want them as a partner to secure that investment for you.
45:40
SPEAKER_01: Again, 888-991-6222.
45:43
SPEAKER_01: That's 888-991-6222.
45:47
SPEAKER_01: Text the word report to Metals.
45:50
SPEAKER_01: That's M E T A L S.
45:52
SPEAKER_01: Text the word report to Metals, or that is also 638257.
45:58
SPEAKER_01: That's 638257.
46:01
SPEAKER_01: Or you can just go to goldencrestmetals.com slash report.
46:04
SPEAKER_01: Again, here's the offer in case you missed it.
46:06
SPEAKER_01: Free portfolio review, free investor kit, up to$25,000 in free silver with qualified purchases.
46:14
SPEAKER_01: And all you have to do is decide what's right for you today.
46:22
SPEAKER_01: So why Goldencrest Medals?
46:25
SPEAKER_01: Because they don't want to be anything but your partner in this.
46:28
SPEAKER_01: Now I might be a spokesman for Golden Crest Medals.
46:30
SPEAKER_01: You might hear my voice every single day, but I'm not going to be the voice you hear when you call.
46:34
SPEAKER_01: I'm not going to be the person typing on the other side of that helpline.
46:39
SPEAKER_01: What I am going to do is tell you that those people that are waiting for you, they're going to treat you with respect.
46:43
SPEAKER_01: They're going to treat you with honesty.
46:45
SPEAKER_01: They want you to be transparent, and so will they.
46:48
SPEAKER_01: And when it comes time for you to liquidate, you liquidate with them.
46:52
SPEAKER_01: That's going to do it for the Crest Report today.
46:55
SPEAKER_01: Have a great week, and we will see you next week.
46:59
SPEAKER_00: You've been listening to the Crest Report, where markets meet reality, brought to you by Golden Crest Medals.
47:05
SPEAKER_00: For your free portfolio review and free no obligation investor kit, plus up to$25,000 in free silver with qualified purchases.
47:14
SPEAKER_00: Text the word report to M E T I L S.
47:17
SPEAKER_00: That's Report to 638 257.
47:21
SPEAKER_00: Or call 888 991 6222.
47:25
SPEAKER_00: Or visit GoldenCrestMetals.com.
47:28
SPEAKER_00: See you next week.