Latest / Financial Survival Network / Bitcoin, Gold Rise as Dollar Falters - Craig Hemke #6273

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Bitcoin, Gold Rise as Dollar Falters - Craig Hemke #6273 · Financial Survival Network

• 0:00
  Speaker 1: So for sure, and they got to have inflation, they
• 0:02
  Speaker 1: got to have more money to constantly be servicing all
• 0:06
  Speaker 1: of the build up of the debt. You know. And Carrie,
• 0:09
  Speaker 1: it's like this. You know, we all look at it
• 0:11
  Speaker 1: and say, hey, look at that gold is thirty four
• 0:13
  Speaker 1: hundred dollars per ounce. That's one way to look at it.
• 0:17
  Speaker 1: I mean, you look at it as gold versus a dollar.
• 0:20
  Speaker 1: But look at the dollar versus gold. The dollar is
• 0:23
  Speaker 1: depreciating versus gold. You know, gold's appreciating versus a dollar,
• 0:28
  Speaker 1: that's what we keep saying. But it's a dollar that's
• 0:31
  Speaker 1: depreciating against gold. You know, you fifty years ago it
• 0:36
  Speaker 1: only took thirty five dollars to buy an ounce of gold.
• 0:39
  Speaker 2: You're listening to Carrie.
• 0:40
  Speaker 3: Let's his Financial Survival Network where you get valuable information
• 0:44
  Speaker 3: you just can't find anywhere else to thrive in today's
• 0:48
  Speaker 3: trying times. You need the Financial Survival Network now more
• 0:52
  Speaker 3: than ever. Go to Financial Survivalnetwork dot com and get
• 0:56
  Speaker 3: your free newsletter and gift financial service Bible Network now
• 1:02
  Speaker 3: more than ever.
• 1:06
  Speaker 2: And welcome you are listening to and watching the Financial
• 1:10
  Speaker 2: Survival Network. I'm your host, Aery lutz Well Craig kim
• 1:13
  Speaker 2: Key is with us Tfmetalsreport dot com. Make sure you
• 1:16
  Speaker 2: go there sign up, sign up for the for the
• 1:20
  Speaker 2: daily missive. And it's opportune that we're speaking with you now, Craig,
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  Speaker 2: in light of what has happened in Gold the past
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  Speaker 2: two days.
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  Speaker 1: Yeah, how about that, Carrie, it was you know, everybody is.
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  Speaker 1: I think we all suffer from PTSD a little bit
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  Speaker 1: in our sector, Carrie. You know, yes, we just expect
• 1:42
  Speaker 1: the rug to get pulled at any time.
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  Speaker 2: We expect, you.
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  Speaker 1: Know, some mass liquidation of futures contracts at three o'clock
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  Speaker 1: in the morning, you know, that kind of stuff. And
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  Speaker 1: there's you know, that's probably always going to be with us.
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  Speaker 1: But after you know, Gold ran up whatever it was
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  Speaker 1: two weeks weks ago, one hundred dollars a day, two
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  Speaker 1: days in a row, got to thirty five ten intra
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  Speaker 1: day on the futures contract and okay, yeah, you know,
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  Speaker 1: at that point probably needed a little pullback. It had
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  Speaker 1: gone up, had four one hundred dollars gains in the
• 2:16
  Speaker 1: course of about eleven days. So okay, so it's going
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  Speaker 1: to pull back. But my goodness, Carrie, here came everybody
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  Speaker 1: out of the woodwork. Oh yeah, it's a crowded trade.
• 2:27
  Speaker 1: As if you know, everybody suddenly owned gold or something.
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  Speaker 1: You know, it's overbought. Okay, maybe the RSI got up
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  Speaker 1: into the seventies, but I mean it wasn't like I mean,
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  Speaker 1: the people that were calling for golden now go to
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  Speaker 1: twenty seven hundred and stuff and all the way back
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  Speaker 1: to the two hundred day moving average. I'm like, well maybe,
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  Speaker 1: but in terms of the internal components of what has
• 2:51
  Speaker 1: always driven the futures market, like the commitment of traders reports,
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  Speaker 1: it was the farthest thing from being overbought.
• 2:58
  Speaker 2: So I was like, well, you know, I'm.
• 2:59
  Speaker 1: Not necessarily buying this narrative. And now look what's happened
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  Speaker 1: as we record this on Tuesday. We're up almost one
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  Speaker 1: hundred dollars a Monday, and at one point today we're
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  Speaker 1: up about.
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  Speaker 2: Eighty or ninety. That's shocking.
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  Speaker 1: The reports of the great death of the gold rally,
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  Speaker 1: I guess we could say are greatly exaggerated. And we'll
• 3:20
  Speaker 1: see where we go from here.
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  Speaker 2: No doubt, no doubt that's true. And now even silver
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  Speaker 2: is starting to join the party here, huh.
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  Speaker 1: It started, it's you know, it just dries. Everybody crazy.
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  Speaker 1: Drives me crazy too. I mentioned the commitment of trader
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  Speaker 1: structure for gold and being actually pretty tame and I
• 3:41
  Speaker 1: don't want to say bullish, but the amount of excuse me,
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  Speaker 1: the large speculators or the hedge funds have actually been
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  Speaker 1: trimming their long position over the last two and a
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  Speaker 1: half months. In fact, it's the smallest has been since
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  Speaker 1: when this rally took off at the end of February
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  Speaker 1: last year. On the other hand, they'll carry different story.
• 4:04
  Speaker 1: It's kind of in its mid range as you could
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  Speaker 1: actually even say it's a slightly heavy or bearish commitment
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  Speaker 1: of trader structure. So it just as hard as having
• 4:12
  Speaker 1: a hell of a time getting any momentum, you know,
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  Speaker 1: getting anything going to the upside. And that's what it's
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  Speaker 1: going to take for silver to catch up. You know
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  Speaker 1: what kind of you recall times in the past when
• 4:23
  Speaker 1: silver is taken off, it kind of builds a momentum
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  Speaker 1: of its own, It goes up because it's going up
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  Speaker 1: sort of thing. But until it actually gets going, it
• 4:34
  Speaker 1: tends to just kind of languish, and that's kind of
• 4:38
  Speaker 1: what it's doing now. And I know it's frustrating to
• 4:40
  Speaker 1: a lot of folks.
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  Speaker 2: Yeah, that is for sure. I mean I know myself,
• 4:45
  Speaker 2: I have felt that way myself. But you know what,
• 4:51
  Speaker 2: I think we've been vindicated very well at this point.
• 4:54
  Speaker 2: We waited around a lot of years. We were telling
• 4:56
  Speaker 2: people and they're saying, oh, your stop clocks, you know, yeah,
• 5:01
  Speaker 2: twice a day, you don't know, shift, And all of
• 5:05
  Speaker 2: a sudden, we're looking a lot smarter these days.
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  Speaker 1: Craig, Well, you know, Carrie, we've known each other for
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  Speaker 1: over a decade, you know, and I think back to
• 5:16
  Speaker 1: how many times, you know, when gold was twelve hundred
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  Speaker 1: dollars an ounce, you know, in fifteen, you know, or sixteen,
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  Speaker 1: And I've got people on my site they're like, you know,
• 5:26
  Speaker 1: thank you for keeping the faith, because I would very
• 5:28
  Speaker 1: easily have given up, you know. And if I've accomplished anything,
• 5:32
  Speaker 1: maybe it's that. But it's not that I'm you know,
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  Speaker 1: a savant or anything. The math has just always been
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  Speaker 1: the math, Kerrie, and at this point more people are
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  Speaker 1: figuring that out. You know, as we've discussed, we've always
• 5:45
  Speaker 1: called it the end of the Great Canes of experiment.
• 5:47
  Speaker 1: Remember that this debt based monetary system, you got to
• 5:52
  Speaker 1: keep feeding the beast, we have more and more of
• 5:55
  Speaker 1: our cash.
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  Speaker 2: Yeah, which is why you know banks love the inflation,
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  Speaker 2: right well, sure, yeah, exactly.
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  Speaker 1: They're the ones that create the cash at that retail
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  Speaker 1: level and then they loan it out. So for sure
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  Speaker 1: they and they got to have inflation. They got to
• 6:12
  Speaker 1: have more money to constantly be servicing all of the
• 6:16
  Speaker 1: build up of the debt, you know. And Carrie, I
• 6:19
  Speaker 1: mean it's like this. You know, we all look at
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  Speaker 1: it and say, look at that gold is thirty four
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  Speaker 1: hundred dollars per ounce. That's one way to look at it.
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  Speaker 1: You I mean, you look at it as gold versus
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  Speaker 1: a dollar. But look at the dollar versus gold. The
• 6:32
  Speaker 1: dollar is depreciating versus gold. You know, gold's appreciating versus
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  Speaker 1: a dollar, that's what we keep saying. But it's a
• 6:40
  Speaker 1: dollar that's depreciating against gold. You know, you fifty years
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  Speaker 1: ago it only took thirty five dollars to buy an
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  Speaker 1: ounce of gold, and now here we are, fifty years later,
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  Speaker 1: it takes thirty five hundred. And that's the I mean,
• 6:55
  Speaker 1: it is that endless march toward I can't really say workless,
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  Speaker 1: but march toward this kind of infinitely small value.
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  Speaker 2: I don't know.
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  Speaker 1: I guess I'm certainly for the right word. But it's
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  Speaker 1: that endless devaluation that we're seeing in that price of gold.
• 7:15
  Speaker 2: Yeah, oh, so true, A man's so true. So the
• 7:19
  Speaker 2: devaluation continues. You think doge can make any difference in
• 7:23
  Speaker 2: the long run or what?
• 7:24
  Speaker 1: No? I mean, I've felt this way since November and December.
• 7:30
  Speaker 1: You know, at one point, Carrie, you'll remember, back during
• 7:33
  Speaker 1: the campaign, they're going to save two trillion dollars by
• 7:37
  Speaker 1: cutting waste and all that kind of stuff. And then
• 7:39
  Speaker 1: about the time Trump got elected, it was oh, maybe
• 7:42
  Speaker 1: one trillion that they could save, and then Musk came
• 7:46
  Speaker 1: out about a month ago, six weeks ago and said, no,
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  Speaker 1: maybe one hundred and fifty billion. Yeah, and now maybe
• 7:53
  Speaker 1: it's fifty billion. And look at the fight that they're
• 7:57
  Speaker 1: getting just for that. I mean, that's always been the problem.
• 8:00
  Speaker 1: I mean, it's not the ability to there's no line
• 8:03
  Speaker 1: item veto, right. The ability to just summarily cut programs
• 8:08
  Speaker 1: is you know, sounds good, but it's not a wol right.
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  Speaker 1: So I my concern is that we were already running
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  Speaker 1: a two trillion dollar deficit this year in what is
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  Speaker 1: deemed to be a growing economy. So where does that
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  Speaker 1: go from here, Carrie? If you know, maybe if those starts,
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  Speaker 1: if it really did have an impact, that would just
• 8:35
  Speaker 1: cut the size of government's betting, which would help, which
• 8:37
  Speaker 1: would shrink the economy even more, which would then shrink
• 8:41
  Speaker 1: tax receipts even more. And the deficit remains the same,
• 8:45
  Speaker 1: if not worse. So that's all part of this thing.
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  Speaker 1: I mean, that's the math. Is the math, and that
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  Speaker 1: depreciation of the dollars what just continues. And the interesting
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  Speaker 1: thing now is the rest of the world seemingly catching on,
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  Speaker 1: not just the global central banks, but investors around the
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  Speaker 1: world are starting to figure this out. And we may
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  Speaker 1: still be in the early stages of this rally.
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  Speaker 2: Yeah, it's as interesting to how high I kind of
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  Speaker 2: go this year.
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  Speaker 1: You know, here's one for you, Carrie, rather than me
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  Speaker 1: answering that myself, I saw. I know you're already sitting down.
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  Speaker 1: Just yesterday, Goldman's Sacks came out and said, if you know,
• 9:27
  Speaker 1: in kind of a worst case scenario is how they
• 9:31
  Speaker 1: you know, put it, it's actually best case for us
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  Speaker 1: gold could go to forty five hundred this year.
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  Speaker 2: That's what I'm thinking forty three hundred is my guest year.
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  Speaker 1: Yeah, their base case was like thirty seven hundred, which
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  Speaker 1: is another ten percent. They're kind of if we do
• 9:49
  Speaker 1: get into recession, it's more like thirty nine hundred, they said,
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  Speaker 1: forty five. Carrie. Here's the thing, I mean, just kind
• 9:57
  Speaker 1: of connect some dots for the people that are trust
• 10:00
  Speaker 1: by the mining sector. And look, I'm one of them, right,
• 10:04
  Speaker 1: and we all look at this just what we've always
• 10:10
  Speaker 1: the point of being in the mining sectors being first
• 10:14
  Speaker 1: right before the world gets turned onto it, you know,
• 10:17
  Speaker 1: before the flow of fund starts coming into the sector
• 10:20
  Speaker 1: and everybody starts bidding the shares higher and higher. It's like,
• 10:23
  Speaker 1: remember when the market was crashing a month ago, and
• 10:25
  Speaker 1: it's like the mag seven lost one point one trillion
• 10:29
  Speaker 1: dollars of market cap today, remember things like that. Yes, well,
• 10:34
  Speaker 1: the entire market cap of the GDX ETF is only
• 10:37
  Speaker 1: like sixteen billion. So you just think if some of
• 10:42
  Speaker 1: that money starts flowing in, how that's going to change things?
• 10:45
  Speaker 2: All right?
• 10:46
  Speaker 1: Well, the key is to get regular investors and hedge
• 10:50
  Speaker 1: funds and institutions to start putting some money in things
• 10:53
  Speaker 1: like Neumont and Agniquo, Eagle and in the sector in general.
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  Speaker 1: All right, so how does that start. Well, the advisor,
• 11:01
  Speaker 1: the or the seller or the bank prop desk guy,
• 11:06
  Speaker 1: they're always going to look at what their bank has.
• 11:08
  Speaker 1: They're going to pull up their analyst opinion in the
• 11:11
  Speaker 1: mining sector and say, well, this guy's projecting X for
• 11:14
  Speaker 1: earnings this year and that kind of stuff. Well, where
• 11:17
  Speaker 1: do they come up with that? Well, they're going to
• 11:18
  Speaker 1: take their own banks numbers for where the gold price
• 11:22
  Speaker 1: is going. And when the bank is saying, ah, the
• 11:24
  Speaker 1: gold price is going to fall this year, they're going
• 11:27
  Speaker 1: to factor that into their earnings per share forecast for
• 11:30
  Speaker 1: all these mining companies. Right. Well, when Goldman now is
• 11:35
  Speaker 1: saying thirty nine hundred, or UBS is saying thirty seven hundred,
• 11:39
  Speaker 1: you know, Morgan Stanley is saying thirty five hundred. All
• 11:42
  Speaker 1: these different banks they're analysts now within you know they're
• 11:47
  Speaker 1: covering all these stocks are going to start to put
• 11:50
  Speaker 1: that price into their earnings per share projections, right And
• 11:54
  Speaker 1: that how I mean, it's a small step in the process,
• 11:59
  Speaker 1: but that's how we get more and more of the
• 12:02
  Speaker 1: regular investors to actually start buying these things because of again,
• 12:06
  Speaker 1: positive analyst coverage. Well maybe I to buy some of
• 12:08
  Speaker 1: that that sort of thing, but plays a role.
• 12:11
  Speaker 2: So it's the rocket fuel, huh.
• 12:13
  Speaker 1: It helps, it helps, And again, Carrie, I just I'm
• 12:17
  Speaker 1: just amazed by this every time I again think about it,
• 12:19
  Speaker 1: and I mentioned earlier. I mean, there's so much money
• 12:22
  Speaker 1: and things like Apple and Nvidia and you know their
• 12:25
  Speaker 1: market caps a trillion dollars or two trillion dollars, you know,
• 12:30
  Speaker 1: the entire You could take a little tell how many
• 12:34
  Speaker 1: shares of Nvidia and then buy the entire GDX, you know,
• 12:40
  Speaker 1: for sixteen billion. I mean, what is that ten A
• 12:45
  Speaker 1: couple tenths of a basis point.
• 12:48
  Speaker 2: Nothing, It's a rounding error, right, amazing, amazing, man, that
• 12:53
  Speaker 2: we're that we're here, that we've gotten to this point,
• 12:56
  Speaker 2: and you know what's coming next. Stay any particular ruminations
• 13:02
  Speaker 2: on bitcoin, Well, it's.
• 13:03
  Speaker 1: Been interesting how it's at least come back. It started
• 13:06
  Speaker 1: to break down about a month ago, you know, and
• 13:09
  Speaker 1: it has had a tendency to kind of follow the
• 13:11
  Speaker 1: NASDAC and to follow the stock market. When the stock
• 13:14
  Speaker 1: market was tanking, bitcoin got down and lost what looked
• 13:17
  Speaker 1: like to be some important support, got down into the
• 13:21
  Speaker 1: low seventy thousands, or whatever. But as the stock market
• 13:25
  Speaker 1: has come back, it's come soaring back too. And I
• 13:28
  Speaker 1: don't even know what's the last ninety thousand something ninety five.
• 13:31
  Speaker 2: I look at City four last night. I haven't checked yet.
• 13:34
  Speaker 1: Today, still off its all time high. But so anyway,
• 13:40
  Speaker 1: doing what it wants to do, I mean, and what
• 13:42
  Speaker 1: it should do. I mean, it too is an alternative
• 13:44
  Speaker 1: to dollar based assets. And that's kind of what we're seeing.
• 13:49
  Speaker 1: That's that's kind of what the underlying trend is here globally,
• 13:54
  Speaker 1: is this movement out of dollar based assets, whether it's
• 13:58
  Speaker 1: US stocks, US bonds, or the dollar itself, and that
• 14:04
  Speaker 1: flow of funds is going to the dollar alternatives, be
• 14:08
  Speaker 1: it gold or bitcoin, or commodities or or just other
• 14:13
  Speaker 1: foreign currents of gosh, kerry, have you seen the crazy
• 14:16
  Speaker 1: action the Taiwanese dollar as of late, which had been
• 14:20
  Speaker 1: you know, peg to the dollar, but it's beally for
• 14:22
  Speaker 1: soaring in strength versus the dollar. As again, these funds
• 14:27
  Speaker 1: are being repatriated out of the US because of I
• 14:31
  Speaker 1: guess political uncertain you know, whatever you want to call it,
• 14:36
  Speaker 1: political economic uncertainty. After the Trump caraff announcements a month ago.
• 14:41
  Speaker 2: M yeah, all right, man, Well, this is a fascinating
• 14:45
  Speaker 2: turn of events here. I guess we're not really surprised.
• 14:48
  Speaker 2: We're just surprised that it took as long as it did.
• 14:51
  Speaker 2: In any event, to a tfmetals report dot com. Go there,
• 14:57
  Speaker 2: sign up for a little more, actually for a lot
• 15:00
  Speaker 2: less than the cost of a latte at the inflation cafe.
• 15:05
  Speaker 2: You could be part of a community and figure out
• 15:08
  Speaker 2: attempt to figure out what the heck is really going
• 15:10
  Speaker 2: on here.
• 15:11
  Speaker 1: That's what we do every day, Carrie, kind of a
• 15:13
  Speaker 1: summer every morning, which I just got done writing a
• 15:15
  Speaker 1: little bit ago, and then we wrap it up with
• 15:17
  Speaker 1: a podcast in the afternoon for like you said, fifty
• 15:20
  Speaker 1: cents a day. Try to keep everybody on top of things,
• 15:22
  Speaker 1: that's for sure, and gosh, at a time like this,
• 15:27
  Speaker 1: that couldn't be more important. Just everybody, remember, I mean,
• 15:30
  Speaker 1: ball markets in just about anything, but particularly the precious
• 15:34
  Speaker 1: metals unfold in a pattern of kind of two steps
• 15:37
  Speaker 1: forward to one step back, higher highs followed by higher lows.
• 15:41
  Speaker 1: And you don't want to get shaken off trying to
• 15:45
  Speaker 1: call tops. Just like you know, anytime you're in a
• 15:47
  Speaker 1: bear market, you don't want to kill yourself trying to
• 15:49
  Speaker 1: pick bottoms either. And the best thing people can do
• 15:53
  Speaker 1: is try to stay on top of things, keep in
• 15:55
  Speaker 1: mind the underlying trend and why it's happening. And then yeah,
• 15:58
  Speaker 1: anytime you get a dip where you can, you know,
• 16:00
  Speaker 1: add to your stack, probably going to work out pretty
• 16:03
  Speaker 1: well for you.
• 16:03
  Speaker 2: In the end. By the dip BTFD right right, zach,
• 16:10
  Speaker 2: bt BFTD, whatever.
• 16:15
  Speaker 1: You would say, it's so long, Terre, it's like it
• 16:18
  Speaker 1: all runs together.
• 16:19
  Speaker 2: If you're dyslexic, you're right they Otherwise, if you're not dyslexic,
• 16:24
  Speaker 2: BTFD and it. Hey, that's it for today, and make
• 16:28
  Speaker 2: sure you go over to Financial Survival Network dot com.
• 16:32
  Speaker 2: We got a link to TF Metalsreport dot com. While
• 16:35
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• 16:37
  Speaker 2: to over eighty thousand subs and subscribers and the seventy
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  Speaker 2: seven thousand of you are still active, which is pretty amazing.
• 16:47
  Speaker 2: And if you've got a question, Greg myself k L
• 16:50
  Speaker 2: at carrie lets dot com is the email will get
• 16:53
  Speaker 2: back to you. Greg. Always a pleasure, thanks for stopping by.
• 16:56
  Speaker 3: Always fun to visit, my friend all the best, Thanks
• 16:58
  Speaker 3: for listening to carry says Financial Survival Network your solution
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  Speaker 1: Now more than ever,