Latest / Financial Survival Network / Silver’s $100 Target? Gold’s Bull Run - Jordan Roy-Byrne #6329

Transcript

Silver’s $100 Target? Gold’s Bull Run - Jordan Roy-Byrne #6329 · Financial Survival Network

• 0:00
  Speaker 1: And what will be coming up next will be silver
• 0:02
  Speaker 1: breaking out of an eleven year log base against a
• 0:05
  Speaker 1: sixty forty portfolio. So we are in a new secular bullmarket.
• 0:09
  Speaker 1: This is one that is going to run for probably
• 0:11
  Speaker 1: at least a decade. There's many reasons for that.
• 0:14
  Speaker 2: You're listening to Carrie Let's's Financial Survival Network where you
• 0:18
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• 0:22
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• 0:26
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• 0:35
  Speaker 2: Network now more than ever, And welcome you are listening
• 0:43
  Speaker 2: to and watching the Financial Survival Network.
• 0:46
  Speaker 3: I'm your host, Carrie Letz. Well, after a couple of
• 0:49
  Speaker 3: solid weeks of metals inching and sometimes going more than
• 0:55
  Speaker 3: inches ever higher, we finally get the pullback day which
• 1:00
  Speaker 3: we are expecting. No surprise is there. It's September seventeenth.
• 1:05
  Speaker 3: Gold's down about thirty bucks the ounce on spot and
• 1:11
  Speaker 3: silver is down about a dollar fifteen. Well, someone who
• 1:14
  Speaker 3: follows this stuff for a living and has been since
• 1:17
  Speaker 3: I know him, Jordan Royburn is with us now the
• 1:21
  Speaker 3: Daily Goold dot com Jordan. We've been having this conversation
• 1:25
  Speaker 3: for over a decade, but finally this conversation has evolved.
• 1:30
  Speaker 3: It's a different conversation than we had two years ago,
• 1:33
  Speaker 3: isn't it?
• 1:35
  Speaker 1: Absolutely carry And it's great to be back with you
• 1:37
  Speaker 1: and your audience. And yeah, I mean it's completely different
• 1:40
  Speaker 1: now because last March of twenty twenty four, gold finally
• 1:45
  Speaker 1: broke out of the cup and handle pattern. It broke
• 1:47
  Speaker 1: out of a thirteen year cup and handle pattern. And
• 1:49
  Speaker 1: I talk about this on in my new book which
• 1:52
  Speaker 1: I published earlier this year, and I'm scratching my own
• 1:55
  Speaker 1: back here, but people can get that for free if
• 1:57
  Speaker 1: they go to the Daily Goold dot com. That's why
• 1:58
  Speaker 1: I'm referencing that. And that breakout was one of several
• 2:02
  Speaker 1: signs setting the stage. We're really confirming that we have
• 2:07
  Speaker 1: begun a new secular pole market in gold. Another thing
• 2:10
  Speaker 1: which I just started tracking in the last couple of
• 2:12
  Speaker 1: years is gold against the sixty forty portfolio, so that
• 2:16
  Speaker 1: the conventional investment portfolio that everyone knows sixty percent stocks,
• 2:20
  Speaker 1: forty percent pawns. Gold broke out against that portfolio of
• 2:23
  Speaker 1: a ten year long base in March of this year,
• 2:27
  Speaker 1: and so that tells us I mean, we got the
• 2:28
  Speaker 1: breakout in gold nominal terms a year ago, several months ago,
• 2:32
  Speaker 1: gold broke out against a conventional investment portfolio. That tells
• 2:36
  Speaker 1: us carry that capital is starting to move from conventional
• 2:40
  Speaker 1: areas into gold. And by the way, in the last
• 2:43
  Speaker 1: couple of weeks, we actually saw GDX and the XAU,
• 2:47
  Speaker 1: amongst other indices, broke out of a eleven year long
• 2:51
  Speaker 1: base against the sixty forty portfolio. And so that tells
• 2:54
  Speaker 1: us capital is moving away from conventional into actually minors.
• 2:58
  Speaker 1: And what will be coming up next will be silver
• 3:01
  Speaker 1: breaking out of an eleven year log base against the
• 3:03
  Speaker 1: sixty to forty portfolio. So we are in a new
• 3:06
  Speaker 1: secular bull market. This is one that is going to
• 3:09
  Speaker 1: run for probably at least a decade. There's many reasons
• 3:12
  Speaker 1: for that. This is not just a thing that's going
• 3:13
  Speaker 1: to pop for a year or two or a We're
• 3:16
  Speaker 1: in a new secular bowl that's going to run into
• 3:18
  Speaker 1: at least I think the mid twenty thirties or in
• 3:21
  Speaker 1: the first you know, the first cyclical bowl market within
• 3:24
  Speaker 1: that longer term secular bowl market. And yeah, I mean
• 3:28
  Speaker 1: we are finally where we all were thinking we were
• 3:31
  Speaker 1: going to go and we are there now, and it's
• 3:34
  Speaker 1: been really exciting the last twelve to eighteen months. Short term,
• 3:38
  Speaker 1: medium term, it looks like we're at, you know, some
• 3:42
  Speaker 1: kind of a peak here, especially in the minors. Maybe
• 3:44
  Speaker 1: gold and silver will follow. I think eventually they will.
• 3:47
  Speaker 1: So people do not get dissuaded by the weakness that
• 3:51
  Speaker 1: we might see over the next few months in the fall.
• 3:53
  Speaker 1: This is much needed. This happens in really strong bull
• 3:57
  Speaker 1: markets and carry you know, whether this correction lasts, I
• 4:00
  Speaker 1: don't know, three months, six months, eight months, you know,
• 4:02
  Speaker 1: two months, whatever. What's really interesting is some of the
• 4:08
  Speaker 1: absolute biggest moves in gold and silver they come after
• 4:12
  Speaker 1: gold makes a breakout, makes a big move, then it
• 4:14
  Speaker 1: comes back in bottoms around the two hundred day moving average.
• 4:18
  Speaker 1: So it's happened six or seven times in its history,
• 4:22
  Speaker 1: at gold's history, and so when it comes back it
• 4:25
  Speaker 1: tests the two hundred day moving average. From that point forward,
• 4:28
  Speaker 1: it has made absolutely huge moves in the secular bowl markets.
• 4:32
  Speaker 1: So that is something I've been looking for. Again, I
• 4:35
  Speaker 1: don't know if it'll be in two or three months
• 4:36
  Speaker 1: or six months, but you know, looking out over the
• 4:39
  Speaker 1: next twelve to eighteen months. We're probably going to see
• 4:41
  Speaker 1: a period of weakness and correction first, but after that
• 4:44
  Speaker 1: we're going to see another big leg higher because everything
• 4:48
  Speaker 1: we're looking at, you know, technically, fundamentally, it's all in line.
• 4:52
  Speaker 1: We're just too overbought right now. The market's got a
• 4:54
  Speaker 1: rest because you know, it doesn't go straight up.
• 4:57
  Speaker 3: Yeah, the tree does not grow to the sky. And
• 5:01
  Speaker 3: you know, one of the things I like about you, Jordan,
• 5:03
  Speaker 3: is you're not out there saying gold's going up all
• 5:07
  Speaker 3: the time. You've been cautious for years now and you
• 5:11
  Speaker 3: have not been to one of the people over hyping it.
• 5:15
  Speaker 3: But you know, pointing to the long term trend that
• 5:19
  Speaker 3: it's certainly higher, it's going to happen at some point,
• 5:22
  Speaker 3: but you never You are not a raging bull until
• 5:28
  Speaker 3: very recently, and I think that's something important to note here.
• 5:32
  Speaker 3: So now you come around, I have a feeling that
• 5:36
  Speaker 3: this correction goes shorter for the simple reason we're in
• 5:39
  Speaker 3: the seasonal.
• 5:42
  Speaker 4: Positive.
• 5:43
  Speaker 3: You know, the generally gold silver go higher in the
• 5:48
  Speaker 3: fourth quarter, so maybe it'll act to frustrate us, but
• 5:53
  Speaker 3: most of the time gold is going to make new
• 5:56
  Speaker 3: highs during this time of the year, the fourth quarter
• 5:59
  Speaker 3: Q four, beginning of Q one, So this uh yeah,
• 6:04
  Speaker 3: maybe maybe it'll stay choppy till the end of the year,
• 6:08
  Speaker 3: till the beginning of December, but at some point I
• 6:11
  Speaker 3: think it's going to break out of this quarter.
• 6:15
  Speaker 1: Well, I would say with with corrections, typically corrections. Of
• 6:21
  Speaker 1: course it can all be different, but generally, you know,
• 6:23
  Speaker 1: you have price in time, so you typically get either
• 6:26
  Speaker 1: the correction consolidates and it goes sideways for a period
• 6:29
  Speaker 1: of time. But the other scenario is you get it
• 6:32
  Speaker 1: in terms of price, where you get a sharp leg down,
• 6:35
  Speaker 1: but it doesn't last that long. So what you're saying
• 6:38
  Speaker 1: that would fit that style of correction where you get
• 6:41
  Speaker 1: a sharp leg lower but it happens really quickly and
• 6:44
  Speaker 1: people are like, oh you know, oh shit, this thing's
• 6:46
  Speaker 1: gonna crash. But then the buyers come back in and
• 6:48
  Speaker 1: they push it all the way back up, so that
• 6:51
  Speaker 1: that is uh yeah. And I'm not sure which way
• 6:54
  Speaker 1: gold will correct, but generally corrections tend to follow, especially gold,
• 6:58
  Speaker 1: one of those two scenarios.
• 7:01
  Speaker 3: Yeah yeah, and I think it'll be rather short lived.
• 7:05
  Speaker 3: That's just my feeling because the coiled spring of silver,
• 7:11
  Speaker 3: you know, we're talking sixty years of suppression. Yeah, they
• 7:15
  Speaker 3: can only manipulate the market in the short term. But
• 7:18
  Speaker 3: if they keep manipulating it in the short term, at
• 7:21
  Speaker 3: some point it turns into the long term.
• 7:23
  Speaker 4: And I think that's where we're at now.
• 7:25
  Speaker 3: I think the fact that the government is contemplating putting
• 7:29
  Speaker 3: silver on the critical minerals list was that final catalyst
• 7:34
  Speaker 3: is what it that it needed.
• 7:36
  Speaker 4: It was already going up. Everyone knew it, but.
• 7:39
  Speaker 3: Then all of a sudden, the government saying the obvious,
• 7:44
  Speaker 3: really kind of put it over the finish line.
• 7:46
  Speaker 1: Well, I just did a bit interview with vitz Lancy
• 7:49
  Speaker 1: and he actually mentioned that he mentioned the lithium and
• 7:52
  Speaker 1: I forget the other battle. I'll I think I think
• 7:58
  Speaker 1: it was lithium and uranium. He said, like what they
• 8:00
  Speaker 1: put those two on the critical minerals list, Like, if
• 8:03
  Speaker 1: you look at if silver made the move, those two
• 8:06
  Speaker 1: batals made or minerals made. One puts it at eighty
• 8:10
  Speaker 1: the other puts it at one hundred and forty dollars
• 8:12
  Speaker 1: an ounce. So I'll just say this, Carrie. You know
• 8:16
  Speaker 1: I'm a technical analyst. The greatest breakout of all time
• 8:20
  Speaker 1: at capital market's history was quantity prices are really gold
• 8:24
  Speaker 1: in nineteen seventy two because you actually had to go
• 8:27
  Speaker 1: back to the Civil War. So gold was breaking out
• 8:29
  Speaker 1: of a over one hundred year lock base. And of
• 8:31
  Speaker 1: course we know that the you know, the gold standard,
• 8:34
  Speaker 1: it was artificially suppressed, especially in the nineteen sixties when
• 8:38
  Speaker 1: people were buying gold socks. They made a fabulous move
• 8:41
  Speaker 1: in the nineteen sixties, even before the nineteen seventies. So
• 8:44
  Speaker 1: with that breakout at gold was over an over one
• 8:48
  Speaker 1: hundred year long technical base, something that had tested multiple times.
• 8:52
  Speaker 1: I mean that's a lifetime, I mean more than a
• 8:54
  Speaker 1: lifetime for most people. The second biggest breakout of all
• 8:58
  Speaker 1: time is going to be silver breaking out through fifty
• 9:01
  Speaker 1: dollars an ounce, because that is going to be a
• 9:04
  Speaker 1: your forty six year or forty five year long breakout
• 9:08
  Speaker 1: when it surpasses fifty dollars an ounce. So a lot
• 9:10
  Speaker 1: of the hyperbole that people have been talking about with
• 9:13
  Speaker 1: respect to silver in recent years, it hasn't made a
• 9:15
  Speaker 1: lot of sense. But we're really close to the point
• 9:18
  Speaker 1: where you know, these these targets are you know, one
• 9:21
  Speaker 1: hundred dogs, two hundred three, These targets are going to
• 9:24
  Speaker 1: start to come into the present that they're they're going
• 9:27
  Speaker 1: to sound less and less ridiculous, because again, when you're
• 9:31
  Speaker 1: at that point where we're so close, and when silver
• 9:35
  Speaker 1: breaks about fifty dollars an ounce, carry again, this is
• 9:38
  Speaker 1: the second biggest breakout of all times. It's a really
• 9:41
  Speaker 1: long time, the biggest breakout since nineteen seventy two, again,
• 9:45
  Speaker 1: when gold broke out of a one hundred and ten
• 9:47
  Speaker 1: year long base. I think, so this is a super
• 9:50
  Speaker 1: exciting time for silver. And you know, looking at the
• 9:54
  Speaker 1: short term forty three forty four where we are right now,
• 9:57
  Speaker 1: this is the last resistance from here between here and
• 10:02
  Speaker 1: now and fifty dollars an ounce.
• 10:04
  Speaker 4: And I would.
• 10:04
  Speaker 1: Also let's look at the quarterly close that's coming up
• 10:07
  Speaker 1: in about two weeks here, so that'll be significant. There's
• 10:10
  Speaker 1: a chance that silver could close at a new quarterly
• 10:13
  Speaker 1: all time high. So that's significant because when gold actually
• 10:17
  Speaker 1: made it's quarterly breakout, that was in I believe December
• 10:21
  Speaker 1: of twenty twenty three, so that happened several months before
• 10:24
  Speaker 1: it did it in daily and weekly terms. So if
• 10:27
  Speaker 1: silver I believe that the quarterly all time high is
• 10:31
  Speaker 1: thirty eight maybe or thirty seven, so I could be wrong.
• 10:33
  Speaker 1: Maybe it's thirty eight change.
• 10:35
  Speaker 4: I think you're so right around it.
• 10:37
  Speaker 1: Yeah, yeah, So if we see silver close above that
• 10:40
  Speaker 1: in two weeks the new quarterly all time high, that
• 10:43
  Speaker 1: basically tells us it's going to break fifty sooner rather
• 10:46
  Speaker 1: than later. And so and here's another point about that breakout, Carrie.
• 10:49
  Speaker 1: I looked at what did copper and oil do they
• 10:53
  Speaker 1: broke out of in the mid two thousands when they
• 10:56
  Speaker 1: broke out of multi decade long basis. Oil broke out
• 11:00
  Speaker 1: of forty, made a huge move here. Copper, I believe
• 11:03
  Speaker 1: when it broke about what is it a dollar fifty
• 11:05
  Speaker 1: or two. You can look at the chart that thing
• 11:07
  Speaker 1: exploded in twelve or fifteen months. So if you take
• 11:11
  Speaker 1: the moves that oil and copper made after those long breakouts,
• 11:14
  Speaker 1: it projected onto silver, which is breaking out from an
• 11:17
  Speaker 1: even bigger base. Silver could go to one hundred dollars
• 11:22
  Speaker 1: in twelve or eighteen months after it after it breaks out.
• 11:25
  Speaker 1: So and that's not hyperbole, that's analyst. That's analysis, looking
• 11:29
  Speaker 1: at history, looking at what happened with these other markets.
• 11:33
  Speaker 1: So yeah, I mean, so we're setting up I mean,
• 11:35
  Speaker 1: it's it's going to be really, really explosive at silver
• 11:38
  Speaker 1: and we're not quite there yet, but we're damp close.
• 11:41
  Speaker 3: And we knew it was coming, you know. I talked
• 11:45
  Speaker 3: with you, David Morgan, a bunch of other people, and
• 11:50
  Speaker 3: you know, there was no question it was coming. It's
• 11:52
  Speaker 3: been building to this, and it's a sixty year coiled spring.
• 11:57
  Speaker 4: Yeah.
• 11:57
  Speaker 3: I mean, look back in the sixties, silver was trading
• 12:01
  Speaker 3: for a dollar two dollars an ounce once upon a time,
• 12:06
  Speaker 3: but then in sixty five, which was a momentous year,
• 12:11
  Speaker 3: they demonetized silver and Jordan you know, and I know
• 12:15
  Speaker 3: that most of the people alive on the planet today
• 12:18
  Speaker 3: don't remember when silver was money. So they're going to
• 12:23
  Speaker 3: get a major education in that fact, very very quickly.
• 12:30
  Speaker 3: Just a couple other points. A few months ago, I'm
• 12:35
  Speaker 3: at Rick Rules conference.
• 12:36
  Speaker 4: I'm talking to a.
• 12:39
  Speaker 3: Metals dealer and saying, you know, I really like these
• 12:44
  Speaker 3: forty percent Kennedy half.
• 12:46
  Speaker 1: Dollars and.
• 12:50
  Speaker 4: Ike dollars, and.
• 12:51
  Speaker 3: He's, oh, they're garbage or this and that. I said, yeah,
• 12:55
  Speaker 3: but they're garbage. But I bought them back when silver
• 12:58
  Speaker 3: was eight dollars an ounce, and that was back in
• 13:04
  Speaker 3: twenty ten after the crash, when it brought gold and
• 13:09
  Speaker 3: silver prices down and now you know the things are worth.
• 13:13
  Speaker 3: Back then, it was like about thirty two an ounce,
• 13:17
  Speaker 3: so they've quadrupled from their face value. And I bought
• 13:20
  Speaker 3: them below spot, all right. I bought them below melt value,
• 13:26
  Speaker 3: and up until three four weeks ago you could still
• 13:29
  Speaker 3: buy them below melt.
• 13:31
  Speaker 4: And that was like the last bargain. The other thing
• 13:33
  Speaker 4: was war.
• 13:34
  Speaker 3: Nickels thirty five percent silver from back in World War Two.
• 13:38
  Speaker 4: They're still around.
• 13:39
  Speaker 3: I bought, like you know, I didn't buy tons of
• 13:42
  Speaker 3: the stuff, but you know, a couple thousand bucks worth
• 13:45
  Speaker 3: because I just knew I'm buying silver for below what
• 13:50
  Speaker 3: its melt value is. I don't care if the people,
• 13:53
  Speaker 3: the smelters don't like it because it takes more work
• 13:56
  Speaker 3: and energy, right, and now all of that is going
• 13:59
  Speaker 3: to be and above spot. You can't touch those forty
• 14:04
  Speaker 3: thirty five percent coins for below spot anymore.
• 14:08
  Speaker 4: They're trading overspot over milt.
• 14:10
  Speaker 3: So that to me is like the most satisfying thing
• 14:14
  Speaker 3: because the pros, the so called pros avoid have avoided it,
• 14:19
  Speaker 3: but when there's a shortage, they'll take any silver they
• 14:22
  Speaker 3: can get, right.
• 14:23
  Speaker 1: Yeah, And I love your story there about the trader
• 14:27
  Speaker 1: investment that well, I guess it's an investment because you're
• 14:29
  Speaker 1: not selling, but that it goes to show you how
• 14:34
  Speaker 1: with agent experience comes wisdom. So whether it's yourself or
• 14:38
  Speaker 1: Rick Rule and other people, they know what's going to happen.
• 14:40
  Speaker 1: They they've been in this a really long time that
• 14:42
  Speaker 1: we know what the monetary history is. And so if
• 14:45
  Speaker 1: anybody out there's concerned about what's happening the next month
• 14:48
  Speaker 1: or the next quarter or the next year, we know
• 14:50
  Speaker 1: where this thing is going. There will be volatility along
• 14:53
  Speaker 1: the way, Carrie, but we're in the next decade, we're
• 14:56
  Speaker 1: headed to some kind of a new gold or monetary
• 14:58
  Speaker 1: system where gold has to be reintroduced as money. There's
• 15:02
  Speaker 1: no other way. If you look at again, you look
• 15:04
  Speaker 1: at a two hundred year chart of gold, you can
• 15:07
  Speaker 1: see what is going to happen. This thing is going parabolic.
• 15:10
  Speaker 1: There's no way it's going to stop. It'll be reintroduced
• 15:13
  Speaker 1: as money at some point. That's the only way they
• 15:16
  Speaker 1: can't raise interest rates. And this is another really important point, Carrie,
• 15:20
  Speaker 1: which I don't think most people have mentioned, but I
• 15:22
  Speaker 1: talk about this in my book. What has really driven
• 15:25
  Speaker 1: gold recently in the last past few years, it's been
• 15:29
  Speaker 1: a combination of central bank buying but also the new
• 15:32
  Speaker 1: secular bear market at bonds. So if you look at
• 15:36
  Speaker 1: the total real return of bonds and you use an
• 15:38
  Speaker 1: eighty month moving average, you look at this data going
• 15:41
  Speaker 1: back one hundred years. Falling below this moving average has
• 15:44
  Speaker 1: marked the start of secular bear markets in bonds. This
• 15:48
  Speaker 1: happened in the in nineteen sixty five or so, and
• 15:50
  Speaker 1: it also happened after the low and COVID so twenty
• 15:53
  Speaker 1: twenty one or so. Carrie, you think about the period
• 15:56
  Speaker 1: from nineteen twenty to twenty twenty, you made me you
• 16:00
  Speaker 1: made money in bonds other than from the mid sixties
• 16:03
  Speaker 1: to the early eighties. So we are in that period
• 16:05
  Speaker 1: again where we're in a secular bear market. This, yeah,
• 16:10
  Speaker 1: and this is very rare. Again, this is only it
• 16:12
  Speaker 1: only happened in that one hundred year period for about
• 16:15
  Speaker 1: fifteen to eighteen years. So most people do not understand
• 16:21
  Speaker 1: the reality of what that entails. Just I mean, it
• 16:24
  Speaker 1: has huge impacts on society for the economy eventually the
• 16:28
  Speaker 1: stock market, but also for precious metals. The nineteen seventies,
• 16:33
  Speaker 1: why was that such a much greater bowl market than
• 16:36
  Speaker 1: in the two thousands because you had a secular bear
• 16:39
  Speaker 1: in bonds, but you also had a secular barent stocks.
• 16:42
  Speaker 1: We're not there yet. We will get there at some
• 16:44
  Speaker 1: point in the next couple of years. When we get
• 16:47
  Speaker 1: into a secular baron stocks, that's when precious metals, I mean,
• 16:51
  Speaker 1: that's what you're gonna see acidite levels. But my point
• 16:54
  Speaker 1: is that's what drove the nineteen seventies. The three major
• 16:58
  Speaker 1: asset classes. You have gold, assets, stocks, and bonds. You
• 17:03
  Speaker 1: had stocks and bonds in a secular bear. Right, We've
• 17:06
  Speaker 1: already seen bonds fall into a secular bear. Stocks are
• 17:10
  Speaker 1: still in a secular pol but eventually the bond bear
• 17:13
  Speaker 1: market is going to inflict stocks as it did in
• 17:16
  Speaker 1: the late sixties and early seventies. And so we haven't
• 17:19
  Speaker 1: even we haven't even reached that point yet. So that
• 17:22
  Speaker 1: just should tell people that this thing is a long
• 17:25
  Speaker 1: way to go. We are only in the early days now.
• 17:28
  Speaker 1: And that's silver at these levels. I mean, it's going
• 17:32
  Speaker 1: to be hundreds of dollars and outs in the next
• 17:34
  Speaker 1: I don't know, three five, six years something like that.
• 17:37
  Speaker 1: Gold will be you know, gold's going to be closer
• 17:39
  Speaker 1: to ten thousand at that point. So the technical setup
• 17:43
  Speaker 1: is there. And if you look at history, you look
• 17:45
  Speaker 1: at you know, look at one hundred and fifty years
• 17:48
  Speaker 1: of data and see where gold and silver peaks, Where
• 17:50
  Speaker 1: were they relative to the S and P or the DOW,
• 17:53
  Speaker 1: Where were they relative to the monetary base. You know,
• 17:57
  Speaker 1: you look at some other data series like that, they
• 17:59
  Speaker 1: all I'll tell you know, gold's going to twenty thousand basically,
• 18:03
  Speaker 1: just based on history. And if you look at every
• 18:07
  Speaker 1: gold at every peak in precious metals, the gold silver ratio,
• 18:10
  Speaker 1: where did it bottom? It was around fifteen or sixteen.
• 18:13
  Speaker 1: What does that tell you where silver is going? It
• 18:16
  Speaker 1: doesn't mean sower's going to doesn't mean sower's going to
• 18:18
  Speaker 1: stay there or you know, they'll be there forever, but
• 18:22
  Speaker 1: that just that tells you ultimately where the metals are
• 18:26
  Speaker 1: going over the next five to ten years. So yeah,
• 18:29
  Speaker 1: I mean it's we're at a really exciting spot and
• 18:31
  Speaker 1: it just started in the last year, so it's still
• 18:34
  Speaker 1: early for people to get in. So yeah, just just
• 18:37
  Speaker 1: buy a little bit of metals every month, Just buy
• 18:41
  Speaker 1: a little bit. It just just keeps stacking.
• 18:43
  Speaker 4: That's what I do.
• 18:45
  Speaker 3: You know, I basically haven't really bought anything meaningful since
• 18:50
  Speaker 3: twenty eleven, a little bit here and there, just to
• 18:53
  Speaker 3: prove that I could buy things under melt value. It
• 18:59
  Speaker 3: makes no sense that you should ever be able to
• 19:01
  Speaker 3: buy under milt because it just shouldn't be. It's an anomaly.
• 19:07
  Speaker 3: And then the gold silver ratio, when you're looking at
• 19:10
  Speaker 3: one hundred and eight, you know, come on, it cannot
• 19:14
  Speaker 3: stay there because whether the government says it's a critical
• 19:19
  Speaker 3: mineral or not doesn't matter.
• 19:21
  Speaker 4: Everybody knows it is.
• 19:23
  Speaker 3: So this is just a government admitting and extending tax
• 19:27
  Speaker 3: benefits expedited permitting two silver projects. There's a lot of
• 19:33
  Speaker 3: silver projects out there that have just been sitting around,
• 19:37
  Speaker 3: especially in Nevada, just waiting for that right catalyst.
• 19:42
  Speaker 4: What about the cost.
• 19:44
  Speaker 3: The economics of mining now pure silver, you know, because
• 19:48
  Speaker 3: we don't have many pure silver miners. What happens to that? Well,
• 19:54
  Speaker 3: the right now. Oil is obviously a huger. Energy is
• 19:57
  Speaker 3: a huge driver of inflation, and that's been kept low.
• 20:01
  Speaker 3: It hasn't been increasing.
• 20:03
  Speaker 1: Of course, costs are going up a little bit every year,
• 20:05
  Speaker 1: and I mean general inflations is very significant. But with
• 20:08
  Speaker 1: respect to the energy costs in mining, it's so significant,
• 20:12
  Speaker 1: and because it hasn't been rising really at all in
• 20:15
  Speaker 1: the last few years. That's why mining companies right now,
• 20:18
  Speaker 1: their margins are just spectacular, Like Carrie, these companies, whether
• 20:21
  Speaker 1: it's a producer or an explorer or a development, they
• 20:24
  Speaker 1: don't even need margins to change, like these prices and
• 20:27
  Speaker 1: these this level of prices and costs there, but they
• 20:30
  Speaker 1: don't need margins to go up. They can make tons
• 20:33
  Speaker 1: of money. These stocks can balloon to the upside in
• 20:36
  Speaker 1: the next couple of years even if margins just stay
• 20:38
  Speaker 1: where they are, let alone. What happens if margins keep rising,
• 20:42
  Speaker 1: which I think will happen eventually in any way, And
• 20:45
  Speaker 1: so yeah, there's going to be a massive bubble in
• 20:47
  Speaker 1: mania coming in these stocks. I mean based on that
• 20:50
  Speaker 1: they're still cheap now. But circling back to the cost
• 20:54
  Speaker 1: of mining. One thing I talk about in my book,
• 20:57
  Speaker 1: which I discovered, if you look at the Parent's Gold
• 21:00
  Speaker 1: Mining Index going back one hundred years, and you look
• 21:02
  Speaker 1: at gold divided by the CPI, the inflation adjusted price
• 21:05
  Speaker 1: of gold, that's actually a great indicator for how gold
• 21:10
  Speaker 1: stocks perform over the very long term. And it makes
• 21:12
  Speaker 1: sense because these companies they move based on their margins.
• 21:16
  Speaker 1: It's not based on the gold price or the silver price. Yes,
• 21:19
  Speaker 1: that is a massive input, but ultimately it's their margins
• 21:23
  Speaker 1: gold and silver divided by costs or minus costs, where
• 21:27
  Speaker 1: you know that reflects how the stocks are going to
• 21:30
  Speaker 1: move over the long term. And again, so you look
• 21:32
  Speaker 1: at gold divided by the CPI, are silver divided by
• 21:35
  Speaker 1: the CPI, and you line that up with you line
• 21:38
  Speaker 1: that up with gen X, sil et cetera. You know
• 21:41
  Speaker 1: they over a long period of time, they track really
• 21:43
  Speaker 1: really closely. And so gold using in monthly terms, gold
• 21:48
  Speaker 1: against the CPI in monthly terms, I know it daily terms,
• 21:51
  Speaker 1: I think it just broke out to do all time high,
• 21:53
  Speaker 1: But in monthly terms, this thing broke out of a
• 21:56
  Speaker 1: forty five year long base in recent months. So that
• 22:01
  Speaker 1: kind of breakout has huge implications over the next two
• 22:05
  Speaker 1: three five years. So I do think the cost of
• 22:08
  Speaker 1: mining will continue to rise and creep higher, and you know,
• 22:11
  Speaker 1: at some point they'll rise too much and faster than
• 22:14
  Speaker 1: the metals. But for here and now, I still think
• 22:18
  Speaker 1: that in real terms, you're going to see gold and
• 22:21
  Speaker 1: silver prices just continue to rise, and that's going to
• 22:25
  Speaker 1: incentivize obviously a lot of new production, and I'm glad
• 22:30
  Speaker 1: that we're the permitting and all of that in the
• 22:33
  Speaker 1: US is getting streamlined. And one thing I'll note Carrie
• 22:37
  Speaker 1: is silver, silver and gold they don't trade. They trade
• 22:41
  Speaker 1: on monetary factors, so supply really doesn't matter. I know
• 22:44
  Speaker 1: a lot of people they like the silver supply angle,
• 22:47
  Speaker 1: and I get that, but if you look at the
• 22:49
  Speaker 1: history silver, it's a beta play on gold, so precious
• 22:54
  Speaker 1: precious metals. You know, detractors will say, oh, prices will
• 22:57
  Speaker 1: go up and you'll get tons of new supply. Necessarily
• 23:00
  Speaker 1: we'll get new supply, but we're not. You know, people
• 23:03
  Speaker 1: don't invest in gold and silver based on supply and demand.
• 23:06
  Speaker 1: They buy for monetary reasons. So you know, production rising
• 23:11
  Speaker 1: and supply rising, that it really isn't going to dent
• 23:14
  Speaker 1: this bullmarket.
• 23:16
  Speaker 3: All right, Well that's what we like to hear. And
• 23:21
  Speaker 3: I'm with you. I think I think it's going to happen.
• 23:25
  Speaker 3: It is happening, and we'll be staying in touch because
• 23:30
  Speaker 3: it's exciting. Look, Eric Spratt, whatever you think the guy said,
• 23:35
  Speaker 3: three hundred dollars announced for silver a couple of years ago,
• 23:40
  Speaker 3: and nothing I've seen nothing you've mentioned makes me believe
• 23:45
  Speaker 3: it'll be anything less than that, because when these things
• 23:49
  Speaker 3: move the coiled spring, it's been suppressed. I have this
• 23:52
  Speaker 3: little satire. I do like Trump GPT and I have
• 23:57
  Speaker 3: come X GPT and it's a it's the AI that
• 24:01
  Speaker 3: they use at Comex, and it's been having meltdowns because
• 24:05
  Speaker 3: nothing is working. Spoofed bids don't work, and you know,
• 24:10
  Speaker 3: naked shorting, switching contracts. You know, now you'll see what
• 24:17
  Speaker 3: comes going to do. They'll start raising margins again. But
• 24:21
  Speaker 3: unlike prior efforts to cap the price, this is going
• 24:27
  Speaker 3: to really make a difference here.
• 24:30
  Speaker 1: It's a much stronger pullmarket this time around.
• 24:33
  Speaker 3: For sure, for sure. So hey, Jordan, just tell us
• 24:37
  Speaker 3: where we find you. How we subscribe to your August publication.
• 24:41
  Speaker 1: Go to the Daily Gool dot com. You can subscribe there.
• 24:44
  Speaker 1: Also at the top you can get my book there
• 24:47
  Speaker 1: for free at PDF and epop copy. So I would
• 24:50
  Speaker 1: if you're not familiar with my work, read the book first.
• 24:53
  Speaker 1: There's a lot in there. It contains all my thoughts
• 24:55
  Speaker 1: on everything precious metals.
• 24:56
  Speaker 4: All right, you got it, Thanks, Jordan. We'll talk to
• 24:59
  Speaker 4: you again soon.
• 25:00
  Speaker 3: Questions comments klatcarrieluts dot com. Make sure you go to
• 25:04
  Speaker 3: my new website, Substack. I'll be sending out a notification
• 25:07
  Speaker 3: about it. I've given up the conventional website because, frankly,
• 25:12
  Speaker 3: this is a lot less work. It's a lot more
• 25:14
  Speaker 3: effective to stay in touch with you because I'm no
• 25:18
  Speaker 3: longer worrying about other people's platforms.
• 25:21
  Speaker 4: I have.
• 25:22
  Speaker 3: My entire audience is there, locked and loaded. Jordan really
• 25:28
  Speaker 3: appreciate it. Talk to you soon and enjoy the ball run.
• 25:31
  Speaker 2: Thank you, Kerry, thanks for listening to Carrie Letz's Financial
• 25:35
  Speaker 2: Survival Network, your solution to today's trying times. For the latest,
• 25:40
  Speaker 2: go to Financial Survivalnetwork dot com. Financial Survival Network now
• 25:46
  Speaker 2: more than ever,