Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 RECORD GOLD & SILVER VOLATILITY! 🚨 Are COMEX and LBMA up to no good...(Big NEWS)

Transcript

🚨 RECORD GOLD & SILVER VOLATILITY! 🚨 Are COMEX and LBMA up to no good...(Big NEWS) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:01
  Silver getting absolutely clobbered down $2.00 per oz.
• 0:06
  Gold not faring much better down precipitously.
• 0:10
  What caused? What's the reason behind this
• 0:13
  massive sell off today in the precious metals?
• 0:16
  We're going to dig in and see if we can figure out why.
• 0:19
  But more importantly, do we still have reason for optimism?
• 0:24
  My fellow basement dwellers? Do we still believe in the
• 0:28
  story, the thesis, the proof behind silver and gold?
• 0:33
  And I got a lot of proof to show you today.
• 0:36
  But we want to approach this with an open mind.
• 0:39
  Remember, things go up, things go down.
• 0:42
  But do we believe that as we head through the rest of this
• 0:45
  year, don't forget the next six months are going to be crazy.
• 0:50
  Will we be rewarded? Will we be happy that we own
• 0:54
  physical silver? Maybe you own physical gold.
• 0:57
  Maybe you own precious metal mining stocks.
• 1:00
  Let's dig right in record volatility.
• 1:04
  Gosh, remember, remember this guys.
• 1:06
  That's thank you Don for the Super chat, my friend.
• 1:09
  That's part of the game right? Big moves up right are also
• 1:14
  accompanied by big moves down. So this crazy volatility, while
• 1:18
  we love it when it goes to the upside, can also happen to the
• 1:22
  downside. But this this, these big
• 1:25
  movements often precede big movements to the up.
• 1:29
  And that's what we want. We want to continue in a bull
• 1:32
  market. I'm I'm, I'm going to show you
• 1:35
  just for review purpose, one of our most important oops.
• 1:40
  Here we go. Thank you, Don for the Super
• 1:43
  chat. Uh oh, here we go.
• 1:48
  That's a bear market. OK.
• 1:50
  That's not what we want to be in.
• 1:52
  This is a bull market, right? We go up.
• 1:55
  This is gold, but this could just as well be silver.
• 1:57
  We go up. We do have downs.
• 2:00
  We go up, we have some downs. We want to continue in this
• 2:03
  upward trajectory. Now, when we look at the silver
• 2:05
  chart, I still wholeheartedly believe, right, that we are in a
• 2:10
  bull market. I've said this about four days
• 2:13
  ago, five days ago, a week ago. If we get below 2827502825, I'll
• 2:21
  be worried. But we still have a chance even
• 2:24
  today to close above $30, which I think, which I think is still
• 2:29
  indicative of us being in a bull market for the gold price and
• 2:33
  the silver price. So what blew us away?
• 2:35
  Do you know what, what, what, what caused all this?
• 2:37
  We're going to dig into kind of the two big factors that people
• 2:41
  are pointing to. Are either of these factors
• 2:44
  legitimate? Should we really be?
• 2:46
  Should you be concerned about silver and gold When you look at
• 2:49
  these two factors? The first one was news out of
• 2:52
  China, which we're going to cover.
• 2:55
  Second, the second piece of news that came out that bombarded the
• 2:59
  silver price and the gold price, yes, bombarded and made our
• 3:03
  blood pressure all go up was the great jobs numbers, right?
• 3:07
  Unbelievable. It's it's you just got to
• 3:10
  realize, guys, this is called Bidenomics and everything is
• 3:14
  possible in the land of Bidenomics, OK?
• 3:17
  Just ask Joe. He'll tell you all about it.
• 3:20
  So the jobs numbers came out better than expected.
• 3:24
  Do we believe we aren't going to spend a lot of time on this?
• 3:26
  The BLS is commonly referred to as the Bureau of Lies and
• 3:32
  Statistics on Wall Street. We didn't say it.
• 3:34
  I didn't say it. I wouldn't put our government
• 3:36
  down or anything like that. Nobody believes the jobs
• 3:40
  numbers. And furthermore, if you live a
• 3:42
  life in this country, you know how hard people are working, how
• 3:46
  hard they're struggling. Here's what I think.
• 3:48
  I think people are just so desperate for money that they're
• 3:52
  doing any work possible. And the government counts any
• 3:56
  kind of job as a job, right? We know all that, but the
• 3:59
  reality is people are working their tails off just to put
• 4:03
  thank you, Ron McAdams for the Super chat, just to put a
• 4:06
  little, a little food on the table, pay their car insurance
• 4:10
  bill. But they can't get much further.
• 4:11
  So people are just having to work, work, work.
• 4:13
  It's a sad, sad situation where the people in the top five
• 4:18
  percent, 1%, maybe even 10% are leading very, very nice lies.
• 4:24
  So no, I don't care. That's noise noise that right
• 4:28
  that was that was wave one was the China news pushing down
• 4:32
  silver and gold. We're going to cover that next
• 4:35
  wave two was the great by dynamic economic miracle jobs
• 4:40
  numbers that came out. Let's all have a quick sip of
• 4:42
  coffee. OK guys, I'm back.
• 4:51
  OK, this is interesting. This was from Morgan Stanley in
• 4:56
  regards to because while the jobs numbers, they have a hard
• 4:58
  time fudging these numbers, it's going to become harder and
• 5:01
  harder. But Morgan Stanley said this and
• 5:03
  what does this mean for silver and gold as we head through the
• 5:07
  end of the year? Morgan Stanley said, quote, we
• 5:10
  think the Fed will see the rise in unemployment rate.
• 5:13
  So the unemployment rate actually went up despite the
• 5:16
  fact that all these wonderful magic jobs were created.
• 5:19
  Thank you, Kimberly Forbes. Well, you guys are are bringing
• 5:22
  up my, my spirits here on a very on a, on what's a challenging
• 5:25
  day for us silver and gold investors.
• 5:28
  But we think the Fed will see the rise in the unemployment
• 5:31
  rate as a sign of further slackening, further weakening in
• 5:36
  the economy. Morgan Stanley said that in old
• 5:40
  Morgan also sticks with their call for three rate cuts later
• 5:47
  in this year, 2024. We know the Bank of Canada
• 5:50
  recently cut rates. We know that the European
• 5:54
  Central Bank just cut rates. How long will it be until the
• 5:58
  Fed is forced to cut rates, right?
• 6:00
  I mean, it's all really a bunch of BS because the value, excuse
• 6:05
  me, of all these, of all these currencies is going down, down,
• 6:09
  down. But nonetheless, right, this
• 6:11
  great jobs number beat down that we took this morning, in my
• 6:16
  opinion is a bunch of BS. I'll just warn you right now, I
• 6:27
  have a tickle in my throat so I'm going to be coughing a lot
• 6:30
  today. Bear, please stick with me.
• 6:32
  OK, here we go. China, the next thing, big news,
• 6:38
  horrible for precious metals. This is what caused the
• 6:41
  overnight beat down. The central Bank of China did
• 6:46
  not buy any gold. Last month that news came out
• 6:50
  and it was like the floor got pulled out underneath silver and
• 6:54
  gold. Why did it get that?
• 6:55
  My question would be why did it get pulled out of the silver
• 6:58
  market? Number one, right, to the
• 7:01
  Chinese central bank, they weren't officially buying any
• 7:04
  silver. But think about this with the
• 7:07
  gold, OK? Yes, the Chinese central bank is
• 7:11
  important. Are they the absolute critical
• 7:14
  element of the gold market? No.
• 7:16
  And think about this. This is something this is key
• 7:20
  for us to remember when it comes to this gold price.
• 7:23
  If the central Bank of China did not buy any gold last month, OK,
• 7:28
  guess what? We still had all time highs.
• 7:31
  We still had a super strong gold price.
• 7:34
  And that was without last month, May, right?
• 7:37
  Yeah, May the Chinese central bank buying any gold, we still
• 7:41
  had record gold prices. Think about it, guys.
• 7:45
  Right, So if the Chinese central bank is so critical to a high
• 7:49
  gold price, well, then why during a month when the Chinese
• 7:53
  central bank didn't buy any gold, did we still have a record
• 7:57
  gold price? Let's go out.
• 7:58
  Let's do The Dirty. OK, Let's just get it out of the
• 8:01
  way, right? Our friends at Pembeks are going
• 8:05
  to deliver to us the, the, the news on the gold price.
• 8:09
  So let's go check it out. Let's go see what's going on
• 8:11
  right now up to the second. What is happening?
• 8:15
  Here we go. All right, we're going to
• 8:18
  refresh this. It could be worse.
• 8:19
  Hey, silver's only down $1.94 Gee, and looks like it's still
• 8:26
  down $1.94. OK, so gold above 23123 oh, 939
• 8:34
  above $2300 per oz Silver 2942. Guys, technically everything is
• 8:42
  still OK. Are we getting a little more
• 8:45
  nervous? Yes, this is a horrible day, but
• 8:47
  technically, on the charts, everything is still OK for gold
• 8:51
  and silver. Look, if gold drops another $100
• 8:54
  in the next two to three weeks, that situation might change.
• 8:57
  Like we talked about earlier, if silver gets down to 2850, that
• 9:01
  situation might change. Right now, I'll tell you this,
• 9:04
  if you were going to buy some gold or silver yesterday and
• 9:06
  didn't and waited till today, you can get a much better deal
• 9:10
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• 9:14
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• 9:16
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• 9:20
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• 9:23
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• 9:26
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• 9:28
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• 9:35
  And when the boxes show up, I'm telling you, they're wrapped up
• 9:38
  like Fort Knox. They're they're fun to open,
• 9:41
  especially fun because I know there's silver inside the box
• 9:44
  and even more fun because I know I got a lot more silver in that
• 9:49
  box, usually two or three or four additional ounces as
• 9:53
  compared to if I bought it from any of the any of the other
• 9:56
  online bullion dealer. So do yourself a favor, check
• 9:59
  out Pinbex. Let's let's talk about this
• 10:01
  crazy China news. This is going to be fun.
• 10:04
  Yeah. We're having fun, right?
• 10:06
  Yeah, sure. On a day when we're getting
• 10:08
  slaughtered, we can still have fun.
• 10:10
  Do we still believe? Do you still believe?
• 10:13
  I do. You have to figure that out for
• 10:15
  yourself. But let's go to this China news
• 10:19
  and and just look at some interesting things that were
• 10:22
  brought up here first from our friends at the Silver Academy.
• 10:25
  What does this mean to you as a silver investor?
• 10:28
  In particular, the Shanghai price of $36.20, which is real
• 10:35
  physical. That's what it closed at paper
• 10:37
  price in the West, 2973. We know it's even lower than
• 10:42
  that right now. Arbitrage record of 22 percent
• 10:47
  or higher, probably 23%. Silver vaults are being drained
• 10:52
  by the dip. Again.
• 10:53
  This is the silver Academy, the silver industry sub stack.
• 10:57
  OK. For each trading contract in
• 10:59
  Shanghai, metal has to be deposited on a one to one basis.
• 11:04
  This is the Comex coin shop. Chris was was blowing up my text
• 11:08
  this morning and I love it. He's like, this is the crooks
• 11:11
  with the Comex and the LBMA doing this to the price.
• 11:14
  Wait till you see some of these other charts.
• 11:16
  I'm going to show you. And guys, the reality is in
• 11:20
  Shanghai, it's a it's a physical market, right?
• 11:24
  Metal has to be deposited on a one to one basis.
• 11:26
  None of this whatever leverage they have at the COMEX and the
• 11:30
  LBMA. You hear all kinds of incredible
• 11:32
  numbers, 400 to one, 100 to one. It doesn't matter.
• 11:35
  They sell all this paper make believe in the real price of
• 11:39
  silver in Shanghai, right? There we go.
• 11:42
  I mean, it's just unbelievable. OK, watch the silver vault
• 11:47
  numbers. OK, once this gets too low,
• 11:50
  London promissory notes current leverage 400 to one.
• 11:54
  Wow, just unbelievable here. And here's the Shanghai Gold
• 11:59
  Exchange. Even their silver stocks are
• 12:02
  getting very, very low. These, these the metal that
• 12:06
  backs up all the all the traded gold.
• 12:09
  And so LBMA vault down 66% year to date.
• 12:14
  COMEX Vault down 46% year to date to 60 million oz.
• 12:21
  The LBMA has 300 million oz and they have billions, billions,
• 12:26
  guys, billions of of paper contracts, paper silver oz
• 12:31
  contracts written. It's really incredible.
• 12:34
  Look at this one. This came from Dave Kransler had
• 12:37
  this on Twitter this morning. This is this is what happened
• 12:41
  overnight. This is why we were sleeping
• 12:42
  right? He says China closes, leaving
• 12:45
  just the digital paper gold markets in London and New York
• 12:49
  City open. So that was right there and you
• 12:52
  can see gold was about oh, getting close to 2400 per oz and
• 12:58
  then the Shanghai closes and what happens?
• 13:03
  Oh, bam, the gold price, of course, gets smashed into the
• 13:06
  London AM price fix and it's gone even lower than that now
• 13:10
  then we got the I mean it's just incredible with the manipulation
• 13:15
  that's going on right now. Let's go, let's go see our
• 13:18
  friend Shanghai ghost, Oriental ghost.
• 13:20
  I'm sorry, not new low silver vaults.
• 13:25
  New low guys silver vaults on the Shanghai Futures Exchange on
• 13:30
  June 7th. The market data for the Shanghai
• 13:33
  markets due to the Dragon Boat Festival holiday.
• 13:36
  The Chinese market was closed tonight and trading reopens on
• 13:39
  June 11th. Oh interesting.
• 13:41
  What a great time for the boys and girls at the Comex and the
• 13:45
  LBMA to hand us all a big giant poop sandwich.
• 13:50
  Here, look the vaults at the Shanghai Futures Exchange
• 13:55
  dropped to a new low. Isn't it interesting to you that
• 13:59
  that the price of silver on the Shanghai Gold Exchange looks
• 14:03
  like it closed at $35 per oz, for crying out loud?
• 14:07
  As my mother would say, Let's look at what real quickly now.
• 14:13
  Silver. 2940 in the US and Silver 35, we'll just say 3540
• 14:23
  on the Shanghai, I mean $6. You're kidding me.
• 14:27
  I mean, come on, guys, are you, are we, am I alone in seeing
• 14:31
  that these markets are just totally crazy manipulated right
• 14:37
  now? I mean, it's unbelievable.
• 14:39
  But let's look at the headline. Let's look at the headline from
• 14:43
  about why China, about what's going on with China and this is
• 14:46
  what really this is what this is what they're using as cover for
• 14:51
  destroying the silver and gold price today.
• 14:55
  This comes from 4X live gold takes a dip.
• 14:57
  I'd say gold took a dive on headline.
• 15:01
  The China halts reserve buying after 18 month stretch.
• 15:06
  The precious metal is now down nearly 1%, which we know that's
• 15:10
  even worse now on the day the headline above that that China
• 15:15
  is halting its gold buying for reserves after 18 months
• 15:18
  stretch. For some context, the People's
• 15:21
  Bank of China is the biggest net buyer of gold last year.
• 15:25
  So there is some importance to the headline.
• 15:27
  That being said, I would argue that it does not change the
• 15:31
  structural outlook for gold in the bigger picture.
• 15:34
  I would argue that as well. In the short term, though,
• 15:38
  traders might be spooked by the headline.
• 15:41
  I mean, gold is still, in my view, overdue for a deeper
• 15:44
  correction after the surge above 2400.
• 15:48
  The early June lows of 23114 are still in place.
• 15:53
  So the latest dip here isn't one to signal any major technical
• 15:57
  breakdown in gold just yet. Yeah, OK, look, look, you know,
• 16:02
  we're we're still in good shape with the gold price.
• 16:05
  We're still in good shape with the silver price, Are we?
• 16:09
  Are we approaching a a place where we could start to get
• 16:12
  nervous? Yes.
• 16:14
  Hopefully what we want to see happen.
• 16:16
  All right. Are you selling gold?
• 16:18
  I'll ask you. Are you selling silver?
• 16:20
  I'm not right. Honestly, I'm not buying either
• 16:22
  either either. But what we want to see
• 16:28
  happening, this is the way it works, right?
• 16:30
  Right now when we get these draw downs, is that the weak hands,
• 16:34
  the Chicken Littles, the ones who get spooked, the people who
• 16:37
  trade based on their emotions that they sell and they get out.
• 16:42
  And those people are replaced with strong handed people,
• 16:46
  people who are buying silver, buying gold, buying the precious
• 16:49
  metal mining stocks and and intend to hold them on a long
• 16:54
  term basis. They aren't, they aren't just
• 16:56
  trying to make a quick trade or a quick buck or whatever it is,
• 16:59
  right. So those people are getting
• 17:00
  washed out and they're being replaced by strong handed
• 17:04
  people, people that have a strong conviction for the story
• 17:08
  behind silver, for the story behind gold.
• 17:11
  Is that you? That is me, right?
• 17:13
  But is that you? That's you know, that's a
• 17:15
  question you have to answer for yourself.
• 17:17
  I'll never tell you what to do. I'm not giving financial advice.
• 17:20
  I will give a piece of financial advice.
• 17:22
  However, if you're looking to buy, let's say some silver, all
• 17:25
  right, this I can tell you 100%. I don't mind saying it if you
• 17:29
  were going to buy silver yesterday, but you waited a day
• 17:32
  to buy it today, you're getting a much better deal.
• 17:36
  Bye. Bye.
• 17:36
  Bye. OK.
• 17:39
  But never use a credit card. Always use prudence.
• 17:42
  But that I can say for sure, right.
• 17:43
  You're getting you are getting a better price today on silver or
• 17:47
  gold or platinum for that matter, than you would have
• 17:50
  gotten yesterday. Let's look at the crazy, you
• 17:53
  know? Yeah, it's, I had a whole live
• 17:56
  stream prepared and then all this happened.
• 17:58
  But I do want to, I do want to show you this from yesterday,
• 18:03
  Right. We're seeing, let's look at
• 18:05
  something happy. OK, This is from yesterday, but
• 18:10
  the silver price was up what, like $1.25 yesterday.
• 18:13
  This came from Wall Street silver.
• 18:14
  The Empire Strikes Back or the Empire takes a hit.
• 18:17
  I'm sorry, right. Meaning the the guys at the
• 18:20
  Comex and the LBMA high volume, almost 6000 contracts, almost 30
• 18:26
  million ounces in 15 minutes did the damage silver to the moon,
• 18:32
  right? Look at that.
• 18:34
  So what this tells us guys is days like today where there's
• 18:37
  high volume manipulation, sell offs, it can also go to the
• 18:42
  upside. This is this is a key, this is
• 18:45
  something fun. It's someday I I really hope to
• 18:50
  meet Rick Rule. You know who Rick Rule is,
• 18:52
  right? He said like three or four
• 18:54
  things that I think are brilliant.
• 18:56
  So what we just looked at right there, right yesterday, I wish,
• 19:00
  I wish today was like yesterday, don't you?
• 19:02
  Right. We had a wonderful day with the
• 19:04
  in the silver price. Big massive up volume in the
• 19:08
  silver price. Here's a little secret that I
• 19:10
  learned from listening to Rick Rule.
• 19:12
  He said, he said and I and I and I'm and I'm and I'm not quoting
• 19:15
  him here, but this is what how I understand what he said.
• 19:18
  He said that these these manipulators of the silver
• 19:21
  market, right over the last number of years, they had an
• 19:24
  easier time manipulating the price down, down, down.
• 19:27
  That was the path of least resistance as things change like
• 19:32
  we showed earlier, right? The the bolts not having hardly
• 19:36
  any inventory in them, right, The Shanghai Gold Exchange, the
• 19:41
  physical market for silver, six, 5-6 dollars an ounce higher,
• 19:45
  $4.00 an ounce higher. I don't whatever, OK, the path
• 19:49
  of least resistance for the silver price and the gold price
• 19:54
  will change to the upside. And those traders, those nasty
• 19:58
  manipulators that that that mess with the price of silver and
• 20:02
  gold, right? The people that are trying to
• 20:04
  make a quick buck at the Comex and the LBMA.
• 20:07
  They can switch sides real easily.
• 20:10
  They can suddenly become people who are trying to push the price
• 20:14
  of silver, push the price of gold upward.
• 20:18
  Guess what? Guess what, right?
• 20:21
  We like to look. We're not.
• 20:23
  Are you a whiner? Are you a complainer?
• 20:28
  Don't ask Susie about me on that question.
• 20:30
  None the less, we can whine. I'll speak for myself.
• 20:33
  I can whine and complain about all the Comex and the LBMA
• 20:37
  manipulate, tamp the price down. And I do think I do believe that
• 20:40
  there have been people who've spent their lives talking about
• 20:44
  that. But what about when they
• 20:45
  manipulate the price to the upside?
• 20:48
  You know, are we going to complain about that?
• 20:50
  And that could very well happen. That could very well happen very
• 20:54
  soon when the if there's a short squeeze and people jump onto
• 20:58
  that, these traders will make a buck either way.
• 21:01
  They don't care. They don't care.
• 21:03
  OK, They they could become our temporary, temporary friends.
• 21:08
  We're not traitors. We're long term holders of the
• 21:11
  precious metals. But nonetheless, how about this?
• 21:14
  Do you have a question about gold?
• 21:16
  Huh. Do you have any idea?
• 21:18
  Do you have any idea, Buttercup? Today's buckle up, Buttercup.
• 21:22
  Right. We say that all the time.
• 21:24
  I'll show you guys an original picture of the original
• 21:26
  buttercup, but you're the butter.
• 21:28
  We're butter cups today. It's time for us to buckle up.
• 21:30
  Today's one of those days where look, we talked about it guys,
• 21:33
  there's going to be choppy waters in the silver and gold
• 21:37
  arena on the on the ocean of silver and gold.
• 21:40
  We're experiencing a little bad weather time for us to but
• 21:43
  little turbulence on the rod's basement. 737 is what it feels
• 21:48
  like today. Oh, the the wind, the side panel
• 21:51
  just popped off right? We're hitting some turbulence.
• 21:54
  But think about this. This, this is going to make you,
• 21:56
  this will make you feel a little warm and fuzzy.
• 21:59
  I'm your captain, Captain Ron reporting to you that we have
• 22:03
  something to feel good about, about the silver and gold,
• 22:06
  believe it or not, today. And I'm going to show you a
• 22:08
  picture here in just one second that will do just that, OK?
• 22:14
  Because one thing we know, and this is true for silver as well,
• 22:19
  it's true for silver. But one thing we know that one
• 22:22
  of the cornerstones of precious metal investing is that the
• 22:26
  scarcity, the finite amount of the metal.
• 22:29
  So I'm going to ask you a question.
• 22:31
  Do you know visually how big all the gold, all the gold in the
• 22:37
  world that was mine during the first quarter of 2024, how big
• 22:41
  that would be? Do you know how big that would
• 22:44
  be? All the gold in the world that
• 22:46
  was mine during the months of January, February, and March.
• 22:49
  I'm going to show you right now and this will I want you to
• 22:52
  think about when you look at this, the fact that that's all
• 22:56
  the gold in three months from all the gold mines and why gold
• 23:00
  and it this applies to silver as well.
• 23:02
  Sorry, I don't have a visual for silver, but this applies for
• 23:05
  silver as well. Let's go take a look without any
• 23:08
  further ado, let's see if I can find it right off the bat.
• 23:10
  Here it is, here it is. This comes from mining visuals,
• 23:18
  gold production and Q1. Visualizing the total amount
• 23:23
  produced. Here we go, we're going down.
• 23:28
  Oh my gosh, think about this. This is all the gold produced in
• 23:34
  the entire world, OK? It is.
• 23:38
  The top 16 gold miners produced almost 8,000,000 ounces in the
• 23:42
  first quarter. To visualize this quantity,
• 23:45
  imagine combining all the gold into one single cube.
• 23:49
  The 8 million ounce of gold would weigh approximately
• 23:53
  whatever grams. This amount of gold would have a
• 23:56
  volume of about whatever centimeters.
• 23:58
  Consequently, the side lengths of the cube containing this gold
• 24:03
  would be approximately 234 centimeters, or about 2.3
• 24:09
  meters. So that's about what's 2.3
• 24:12
  meters. I don't know about 8 feet,
• 24:14
  that's like a 8 foot long 8 foot high.
• 24:17
  There's people to give you an idea. 8 foot high, 8 foot like a
• 24:20
  cube. That's all the gold in the
• 24:22
  world. Well from the 16 biggest miner,
• 24:25
  so it's a lion's share. I didn't realize it was just the
• 24:28
  16 biggest miners, but nonetheless, that's why we own
• 24:32
  gold. I wonder how big the cube for
• 24:33
  silver would be. How big do you think the cube
• 24:36
  for silver would be? I'd be curious if anybody finds
• 24:39
  that data. I'd be really interested to see
• 24:42
  it. I bet.
• 24:43
  Obviously the silver. Well, we know.
• 24:45
  Hold on. Wait.
• 24:46
  Whoa, whoa, whoa, whoa, whoa. Stop the presses.
• 24:49
  Stop the presses. We know, guys, right?
• 24:52
  We know how much silver. Thank you, Lizard.
• 24:55
  Super sticker, my friend. Let's get him up there.
• 24:57
  Mr. J Lizard. So we know how much silver was
• 25:01
  produced. There's for each one ounce of
• 25:03
  gold. There's 7 ounces of silver.
• 25:06
  So what did I say? Let's we'll say about two
• 25:10
  meters. That would be silver, would be
• 25:12
  about, well, seven times bigger. Not a lot of silver, right?
• 25:16
  Maybe the size of like a small house.
• 25:19
  All the silver in the world. Oh, somebody was calling me.
• 25:23
  Sorry about that thank you for the Super chat all right so that
• 25:28
  should make us feel good. We know there's only so much
• 25:31
  gold in the world. Only so much silver in the
• 25:33
  world, right? This right, this thing.
• 25:38
  That's an American Silver Eagle. That's the show and tell coin of
• 25:41
  the day, right? That's an ounce of silver.
• 25:44
  There's only so much. Pick up one of your oz right
• 25:46
  now. Hold it in your hand.
• 25:48
  There's only so much in the world.
• 25:50
  OK, Silver. This is something else
• 25:53
  staggering about silver. Silver strange.
• 25:56
  You want to know why silver strange?
• 25:57
  I wrote this out for you because it's both a monetary and an
• 26:01
  industrial metal. But that's not it.
• 26:03
  That's not the real strange thing.
• 26:06
  I heard this last night. We never talk about this, guys.
• 26:09
  And this is critical. Only 16% of the supply of silver
• 26:15
  comes from silver mines, only 16%.
• 26:20
  So if we are correct, and I think we are, I think you're
• 26:23
  right. I think I'm right.
• 26:24
  We love silver, we love gold too, but we love silver if we're
• 26:27
  right in the demand. Remember yesterday we talked
• 26:30
  about this unbelievable amount of demand right now for silver
• 26:36
  from solar alone. It's mind numbing.
• 26:38
  Go back and watch yesterday's live stream if you want to learn
• 26:41
  more about that. So, but if we're right and this
• 26:44
  demand continues, which we're right, don't worry, we're right
• 26:48
  and the price continues up right, We'll, we'll, we'll go
• 26:51
  off the Shanghai silver's 35 bucks an ounce right now.
• 26:54
  We'll, we'll, we'll, we'll believe the physical market in
• 26:56
  Shanghai. Guess what?
• 26:59
  They, if silver goes to 50, sixty, $80.00 an ounce, only 16%
• 27:05
  of the world's silver comes from silver mines. 16% that's like
• 27:11
  one out of nine ounces or whatever.
• 27:14
  One out of eight, I don't know, whatever that is, 6/1 out of
• 27:17
  whatever, one out of six, none. The one out of seven, what the
• 27:21
  point is whether when we get these, the skyrocket demand,
• 27:27
  when we get the skyrocket price, they aren't, there aren't silver
• 27:31
  mines that they can turn on. There aren't the silver.
• 27:34
  The other thing you gotta realize is the silver mines,
• 27:36
  number one, they haven't been investing in their pipeline
• 27:39
  'cause there's no money for them, OK #2 Even crazier to
• 27:44
  think about is the fact that silver miners have been high
• 27:47
  grading for years. High grading means when you got
• 27:52
  a mine, you know there's certain sections that have better grade
• 27:56
  material, more silver in it, OK. And when the price is low and
• 28:00
  you're trying to just survive, what the silver miners generally
• 28:05
  do is high grade their mines. They go get the best ore so that
• 28:08
  they can get as much silver as they can just so they can pay
• 28:11
  the bill. So silver is strange, OK, It it
• 28:16
  is really, really is in a very unique position.
• 28:21
  We love gold, we love platinum. But man, I think silver when you
• 28:25
  look at what's going on, I mean, the the solar stuff is mind
• 28:29
  blowing. But again, we talked about that
• 28:31
  yesterday. Is there big money to be made in
• 28:34
  mining stocks? Let's go.
• 28:37
  Let's go. Let's go check that out.
• 28:38
  You know what? First, I got something great for
• 28:40
  you to share as well. This came from Don the Brain.
• 28:43
  The one and only. Donnie the brain, Right?
• 28:46
  He's our brain. And over across the river from
• 28:49
  me. Where is it?
• 28:53
  Here it is, right? Yep.
• 28:56
  Here we go. Let me make sure you guys can
• 28:58
  see that. Yeah.
• 28:59
  Can you see me? Here we go.
• 29:00
  Yep, OK hold on, this is from Don the Brain.
• 29:03
  This says it all. This is a Biden advisor and
• 29:07
  that's the new president of Mexico 'cause remember Mexico's
• 29:10
  become anti mining, trying to outlaw open pit mining.
• 29:13
  Mexico's where the majority of the world silver comes from
• 29:16
  anyway. This says this is what they're
• 29:18
  talking about. We don't need your silver and
• 29:20
  gold mines anymore, right? That's the Biden advisor talking
• 29:24
  to Mexico now. People get their silver and gold
• 29:27
  from Costco. I mean, really, nothing's out of
• 29:33
  the realm of possibility, right? What they think of the Biden
• 29:37
  administration, they're like, we don't need silver and gold
• 29:40
  mining. You can go buy silver and gold
• 29:42
  at Costco. Well, where do you think it
• 29:44
  comes from? And that's what Don the Brain
• 29:46
  was talking about with me, 'cause maybe you invest in
• 29:49
  precious metal mining stocks. I do.
• 29:51
  I felt the pain, baby. I don't even want to look at My
• 29:54
  Portfolio today. If you're having pain, Big
• 29:57
  Ronnie here in the basements with you, we'll be OK, right?
• 30:01
  But by Don, the brain was talking about the fact that
• 30:03
  there's a big disconnect and this, this can be critical for
• 30:07
  the price of the metals as well, OK?
• 30:09
  But there's this massive disconnect between the metals
• 30:13
  prices, right? 2950 silver still good.
• 30:17
  Hopefully we'll hold $29, right, $2300 gold is still awesome.
• 30:22
  Remember just back in in October of last year, we were at $1900
• 30:26
  gold. We'd be having a party.
• 30:27
  If I told you that in on Halloween that in six months
• 30:32
  gold would be at $2300.00 an ounce, you would have thought I
• 30:37
  was crazy for saying it right now, none the less, there's
• 30:40
  this. Gold and silver have done very
• 30:42
  well. There's this massive disconnect
• 30:44
  between the metals and the miners.
• 30:46
  This not only applies and there's not only a good we don't
• 30:49
  most people don't think about the stuff that we think about,
• 30:52
  but you're smarter than the average bear, right?
• 30:54
  There's a bear right there. First mining gold channel
• 30:57
  sponsor. You can check them out at
• 30:58
  firstmininggold.com. Nonetheless, Oh, hold on, hold
• 31:06
  on. Susie has a request.
• 31:08
  Here we go nonetheless, OK, this disconnect between the mining
• 31:13
  companies and the metals price that the the people aren't
• 31:18
  putting two and two together. Like, oh, we love silver and
• 31:21
  gold, but we don't know where it comes from.
• 31:23
  Like those people in the Biden administration.
• 31:25
  Well, I thought silver and gold came from Costco.
• 31:28
  I can buy it with my membership, right?
• 31:30
  No, silver and gold comes from silver and gold mines.
• 31:34
  And that's actually the real value in that people.
• 31:37
  The world hasn't put that together yet.
• 31:39
  OK, now that could spell big, big returns for the mining
• 31:44
  stocks. Look, I'll be honest, I hope so
• 31:46
  'cause I got a lot of money in precious metal mining stocks and
• 31:49
  it's not been a real fun ride for those of us who've been in
• 31:52
  this for the last two or three years.
• 31:54
  But I believe in it. I believe in the value.
• 31:56
  Now, what does it mean for the metals prizes?
• 31:58
  It's good for the, it's like a self feeding tornado spiral
• 32:04
  because the fact that there's not money in these metal, that
• 32:07
  means these miners have not been able to invest in their, in
• 32:13
  their exploration. They've not been able to find
• 32:15
  new metals. Their pipelines, their pipeline
• 32:18
  is running dry. And when the pipeline runs dry
• 32:22
  and there's no more supply because China's taken all of it,
• 32:25
  right? And the Biden administration
• 32:28
  says, oh, we need more silver, we need more copper.
• 32:31
  We want gold, right? Well, well, and Biden sends out
• 32:35
  one of his top advisors say go to Costco and buy some silver.
• 32:38
  He's gonna get the Costco and be like, we don't have silver
• 32:40
  anymore. We don't have gold.
• 32:42
  We never had copper. But you know what I'm saying,
• 32:45
  right? When people like it could be
• 32:46
  like a double whammy, but jammy, I can't think of a good way to
• 32:50
  say it, but it it's it'd be like a it's like a AA double positive
• 32:55
  for the not only the mining stocks, but also for the metals
• 33:00
  prices themselves. Because when there's no more
• 33:02
  supply left, where are they gonna get it from, huh?
• 33:05
  You know they can't get it at Costco, right?
• 33:09
  Sorry. I digress.
• 33:11
  Thank you, Don, for bringing for bringing that up here.
• 33:13
  Let's see what? Let's see what our old friend
• 33:15
  Neils is saying. Well, you know what?
• 33:17
  Hold on. Let's look at this.
• 33:22
  This will show you right here. OK, Precious metals, right?
• 33:27
  There's the metals prices. Hold on, there's the metals
• 33:30
  prices, OK, The senior miners and they kind of been keeping
• 33:37
  up. They should be way higher, OK?
• 33:40
  The junior miners are way down. I mean, it really, guys, is
• 33:43
  absolutely crazy. That's our former president
• 33:46
  lamenting that he feels like a loser because he let the Federal
• 33:49
  Reserve. Those are people in China lined
• 33:51
  up to buy gold. Let's just get through here.
• 33:54
  That's a restaurant by my house that closed.
• 33:56
  That's me at Six Flags with my I love silver shirt on.
• 34:03
  That's the comex. Hold on what I want to show you
• 34:05
  here. Come on.
• 34:08
  That I will. I will talk about that another
• 34:10
  day. That's the cup and handle.
• 34:13
  That's the cup and handle. Where is it?
• 34:17
  There it is. OK, this shows visually, right
• 34:20
  guys, 1990 on the left. Look at all the gold that was
• 34:24
  discovered. But look between 1990 and
• 34:27
  through present time how the the big yellow lines are the
• 34:30
  millions of Oz of gold discovered each year.
• 34:34
  It goes from the left to the right over 25 years and it goes
• 34:38
  straight down to almost nothing. And the black line is the amount
• 34:43
  of money, billions of dollars spent on exploration.
• 34:47
  You can see it starts going up but they can't find more gold in
• 34:52
  The same is true with silver. Well, I don't even wanna know
• 34:56
  what the next one is there. This shows us the only people
• 35:00
  buying silver and gold right now physical is China, right?
• 35:05
  The, the, the. But they're not buying mining
• 35:07
  stocks in the USA and the West. They're not buying anything
• 35:09
  either. I digress.
• 35:10
  Let's get back on track here, guys.
• 35:13
  Let's get back on what? You know what?
• 35:15
  No. Hold on.
• 35:16
  Here we go. You know what?
• 35:21
  Here, right? Housing inventory crashing. 1%
• 35:26
  of ETF assets are in gold and silver.
• 35:29
  That's been as high as 7%. That came from my friend Jordan
• 35:32
  Roy Byrne. That's the COMEX.
• 35:34
  Do you guys have cicadas where you live?
• 35:36
  We got them everywhere here. All the ones by my house have
• 35:39
  COMEX written across them. Those bugs.
• 35:42
  That's the M2 money supply. OK, All right.
• 35:47
  Here we go. I have no idea what that is.
• 35:51
  Let's go. Let's go.
• 35:53
  See what Niels has to say All right, and here we go Niels at
• 36:04
  Kitco gold prices will set new record highs in the second-half
• 36:08
  of 2024 that came from metals for focus.
• 36:12
  So is this just a short A lot of people were calling for a short
• 36:15
  term pull back. Is that what we're having today?
• 36:18
  You know, is look, that's what it feels like to me.
• 36:25
  How does it feel to you right that that that we were the
• 36:29
  painful days are necessary, but it can helps us consolidate the
• 36:33
  price, build a platform, a strong platform from which we
• 36:38
  can shoot even higher. OK.
• 36:41
  In their weekly note published Thursdays, analyst at Metals
• 36:44
  Focus said that the eventual monetary policy easing from the
• 36:47
  Fed will drive gold prices higher in the second-half of the
• 36:51
  year. Later this year, we expect
• 36:52
  prices to rise again with a new all time high likely, said Neil
• 36:57
  Meter, director of gold and silver at Metals Focus.
• 37:00
  After all, the recent peak at 2450 per oz is lower in real
• 37:07
  terms than the 1981 which would have been around $3000 when you
• 37:13
  it just the 1980 price for the inflation that's occurred since
• 37:17
  then. So really right in nominal
• 37:20
  terms, just pure number terms, sure we hit an all time high.
• 37:25
  But in real terms, when you when you adjust the 1980 high for the
• 37:30
  inflation that we've had, we really need to get above $3000.
• 37:34
  OK, with a new record peak insight.
• 37:38
  Sorry about that. Metals Focus expects gold prices
• 37:41
  to average around 2250 for the year.
• 37:45
  Let's go see what Niels. Thank you.
• 37:47
  Niels, you got a double header of Niels Christensen.
• 37:51
  I love that guy Kitko. It's it's still early as gold
• 37:56
  and silver miners have their day in the sun.
• 37:59
  OK, That's according to Krick. Krause era gold and silver
• 38:02
  prices continue to consolidate around critical psychological
• 38:06
  levels. Let's again, that's what we want
• 38:09
  to see happening today. But the uptrend remains on solid
• 38:13
  footing as investors look for value through the entire sector,
• 38:17
  including the mining industry. OK, silver's breakout rally.
• 38:24
  OK, I said the gold's ability to to hold near record highs and
• 38:29
  silver's breakout rally above $30.00 an ounce this year is
• 38:33
  finally starting to attract the attention of generalist
• 38:36
  investors. Now why is that good again,
• 38:39
  right? This is something nobody else
• 38:42
  talks about as well. But when we start to get
• 38:44
  generalist investors noticing the mining stocks, guess what
• 38:49
  else they're gonna think about? They're gonna think about the
• 38:51
  physical metal as well. They kind of feed off each
• 38:55
  other. OK, I'm not saying, you know,
• 38:57
  that there's a one to one relationship, but generally
• 39:00
  speaking, if you get a, a new, a new basement dweller joins us
• 39:04
  and maybe they join because they're want to buy mining
• 39:08
  stocks. Well, as they're, as they're
• 39:10
  looking at the mining stocks, the thought will cross their
• 39:12
  minds. Maybe I should buy some physical
• 39:14
  silver. Maybe I should buy some physical
• 39:16
  gold. OK, let's just look at this very
• 39:19
  quickly just as you. OK, price to book ratio, this is
• 39:22
  how cheap gold mining stocks are, is a rough proxy for
• 39:26
  valuation. Going back to 2011, the price to
• 39:29
  book ratio of both the S&P and the miners were about the same,
• 39:33
  trading around two times their value.
• 39:36
  Currently the S&P 500 is trading around five times its book
• 39:40
  value. OK.
• 39:42
  That means the valuation of the overall companies on the S&P 500
• 39:46
  is five times what the actual book value of the companies are.
• 39:51
  That's super high, by the way, whereas the miners are below 2
• 39:56
  at 1.9. So there's a significant
• 39:58
  difference between the market's valuation and the miners, he
• 40:01
  said. That's a long way to say I think
• 40:04
  there is more to run in both the gold miners and also the silver
• 40:10
  miners, OK. Are we in for a summer of doom?
• 40:15
  Let's take a look at this quickly.
• 40:17
  Let's go out. Thank you guys for being here.
• 40:21
  Hold on, let's go out and look. Let's do an update on the gold
• 40:27
  and silver price. Let's see if we broke $2.00 down
• 40:30
  in silver. Oh, unbelievable, $1.99.
• 40:34
  Well, they're trying right, $70.00 down in the gold price to
• 40:38
  2307 dollars silver 2937 woof, what a what a day.
• 40:47
  Those guys at the Comex and the LBMA, my hat's off to them.
• 40:51
  They're they're they're giving it all she's got.
• 40:53
  OK, is the economy doomed right? Let's look at a couple quick
• 40:58
  articles. This is this is getting super
• 41:00
  interesting. And we've talked about how in
• 41:04
  the next 5 1/2 months up to the Election Day, that's D-Day for
• 41:09
  me. And I'll come down here and tell
• 41:10
  you I'm dead wrong, but we are headed into a very difficult
• 41:14
  period in this country, in the United States.
• 41:17
  That's my opinion, absolutely. I could be wrong.
• 41:20
  Maybe everything will be rosy. Bidenomics will cure all evils.
• 41:24
  I don't know. But when I look at everything
• 41:27
  going on, I'm darn right scared about what?
• 41:30
  The next 5 1/2 months? Not petrified, but a little
• 41:32
  concerned about what we might be facing in this country.
• 41:35
  OK, Even though the jobs numbers were great today, Yeah,
• 41:39
  whatever. Alright, so what's CNN telling
• 41:41
  us? What's what CNN says?
• 41:46
  CNN is trying to get me to sign up for something which I'm not
• 41:50
  interested in. OK, people are exiting the stock
• 41:55
  market in droves. OK, the summer months are
• 41:59
  usually relatively benign for markets as investors opt for
• 42:02
  sandbars, blah, blah, blah. the US stock market is shrinking and
• 42:07
  investors are pulling their money out at near record pace as
• 42:11
  storm clouds gather over the US economy.
• 42:15
  Is CNN, the children's news network, actually saying this?
• 42:19
  That means, excuse me, the Titans of Wall Street may have
• 42:24
  to contend with choppy water as they cruise toward their
• 42:28
  Nantucket getaways this year, sell in May and go away, blah,
• 42:32
  blah, blah. But recent trading flows show
• 42:35
  that something larger is a play this year.
• 42:37
  Bank of America analysts said that Tuesday that their clients
• 42:40
  have now been large net sellers of U.S. stocks for five weeks in
• 42:45
  a row. Just last week, they sold off
• 42:48
  almost 6 billion more in stocks than they purchased, the highest
• 42:52
  outflow since last July. OK, low volume, eventful
• 42:57
  markets. That means the tides appear to
• 43:00
  have shifted and the usual summer doldrums are nowhere to
• 43:04
  be found. Summer of 20.
• 43:06
  Here we go. Summer of 2024 may prove
• 43:09
  volatile, with momentum stalling amid policy uncertainty, wrote
• 43:13
  Morgan Stanley wealth management chief Lisa Chatlette.
• 43:17
  OK, economic crosscurrents have left the Federal Reserve more
• 43:22
  tentative regarding rate cuts, amplifying the potential
• 43:25
  significance of each data point as debate continues over the
• 43:29
  degree of policy restriction. OK, what this means, guys?
• 43:34
  What this means in layman terms, right?
• 43:37
  Everything screwed up. Everything in this economy has
• 43:40
  been so manipulated, is so synthetic.
• 43:44
  Everything is synthetic. There's so much debt, there's so
• 43:47
  much credit, right? Remember extras pyramid, right?
• 43:51
  I can pull it up for you, but you know what it looks like
• 43:54
  Silver and gold are the only real things out there.
• 43:57
  Everything else is synthetic, electronic derivatives, credit,
• 44:03
  paper, whatever, but not real make believe.
• 44:07
  It's all been based on make believe.
• 44:08
  And now the hens are coming home to roost.
• 44:11
  Yeah, This guy, let's bring him out.
• 44:13
  It's been about a week. He needs a little air.
• 44:16
  Him, right? Yeah.
• 44:18
  Yeah. He's confused.
• 44:19
  He's scared. Right.
• 44:21
  That's our friend Jerome Powell. The Federal Reserve.
• 44:23
  They're going to tell you everything's great, Everything's
• 44:27
  wonderful, right? Who do you think?
• 44:30
  Who? Who's always saying oh,
• 44:31
  everything's great, everything's wonderful.
• 44:34
  I don't know why Here. She here, she's in a pretty box.
• 44:40
  We're not allowed to feed her. But her, right, She's always
• 44:45
  she's always there. She is.
• 44:46
  Hi, everybody. Everything's great, America.
• 44:49
  Everything's wonderful, you know?
• 44:51
  Yeah. She used to be the head of the
• 44:53
  Federal Reserve. Now she's the head of the
• 44:55
  Treasury. Everything's, everything's
• 44:56
  synthetic, guys. Everything's fake and phony.
• 44:59
  OK, Look at this. Look at this, right?
• 45:02
  And what else? You know, we're not, you're not
• 45:04
  the only ones that knows this. I got news for you.
• 45:07
  Do you realize a majority of the world knows this, this little
• 45:12
  organization called the, the, the BRICS, Brazil, Russia,
• 45:17
  India, China, South Africa, right, Iran, Saudi Arabia,
• 45:21
  Egypt, Ethiopia and the United Arab Emirates and like a zillion
• 45:26
  other countries that want to join these countries that
• 45:29
  control a, a lion's share of the world's resources, the world
• 45:34
  population. Oh, and interestingly enough,
• 45:37
  they also control, they also represent the, the lion's share
• 45:41
  of new people coming into the consumer class, right?
• 45:46
  Oh, right, they've got a different, they've got a
• 45:48
  different perspective on things than we do here 'cause they're,
• 45:52
  they're explicitly saying, right.
• 45:54
  And there's this big news story, it's going around.
• 45:57
  Some people say it's being not not talked about enough.
• 46:02
  Let's say that the, the Saudi Arabians are officially walking
• 46:06
  away from the Petro dollar agreement this this weekend.
• 46:10
  Anyway, everybody else out there saying no more, we're done
• 46:15
  Cowbell. Thank you, Susie.
• 46:16
  Yeah, the Susie, you might see her here.
• 46:19
  She's she's taking a nap today because I can't get the
• 46:22
  walkie-talkie to work. I got to ring the cowbell for
• 46:26
  you basement dwellers. That's for 200 thumbs up.
• 46:30
  Thank you for the thumbs up. Thank you to all.
• 46:32
  Almost 750 of you here today on the live stream.
• 46:36
  But it's all fake. It's all phony.
• 46:40
  It's all Unicorn fart dust. It's all paper Bob whatever,
• 46:44
  right? Remember thousands of years,
• 46:46
  silver and gold, they've been real.
• 46:49
  They've been the base. They're God's money, right?
• 46:52
  They're Mother Nature's money. They're the planet money.
• 46:54
  They're the, they're the only form of value.
• 46:58
  What other form of I mean, there's other things that have
• 46:59
  held their value, right? Land, whatever.
• 47:01
  But really, gold and silver are the only things that have held
• 47:04
  their value for these thousands and thousands of years.
• 47:07
  OK, so let's take a look at this one more.
• 47:15
  Oops. All right, here we go.
• 47:22
  This comes from Bo, Ronnie and my old college roommate, Shawn
• 47:25
  sent this over. OK, Business debt accounts.
• 47:28
  This is just a visual to show you how much debt there is.
• 47:31
  But there's another component of this that we need to think
• 47:35
  about. OK.
• 47:36
  All right, 315, Can I make that smaller?
• 47:41
  Hold on. I wanna make sure you can see
• 47:42
  the whole thing. Guys, No, I do not want your
• 47:47
  app. All right, hold on.
• 47:53
  All right, here we go. This should work, $315 trillion
• 48:01
  in global debt. That's the red over here.
• 48:04
  That's all the red. Business debt, 165 trillion
• 48:09
  government debt. Now the United States takes up
• 48:11
  over 1/3 of that 91 trillion. Household debt, 60 trillion.
• 48:16
  You add it all together and you get 315 trillion.
• 48:20
  OK, over here, the green, that's the global GDP.
• 48:25
  Let me tell you something. It's been a mathematical
• 48:28
  certainty throughout history that anytime debt exceeded GDP
• 48:33
  by more than 120%, there's a major crash, there's a major
• 48:38
  depression, there's a major reset.
• 48:40
  OK, at this point, we're probably getting close to 300%
• 48:47
  that the GDP in the world. It's going to be interesting.
• 48:50
  Hey, look, today is one of those days for silver and gold
• 48:55
  investors. Let's hang in there.
• 48:57
  I appreciate you guys being here.
• 48:58
  I appreciate your support of the channel.
• 49:01
  Please support the channel sponsors, right?
• 49:03
  Don't forget we have Pinbex if you need to get your hands on
• 49:06
  some silver, gold or platinum first.
• 49:08
  Mining gold and our friends at Fortuna Silver who are now both
• 49:12
  a gold and silver mining company.
• 49:15
  Hang in there, OK? We got reason to be optimistic.
• 49:18
  I appreciate you being here. Have a great day and I'll see
• 49:22
  you soon.