Latest / Financial Survival Network / Silver Is Running Out - Robert Kientz #6360

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Silver Is Running Out - Robert Kientz #6360 · Financial Survival Network

0:00
Speaker 1: Silver's probably is critical to the world communs oil because
0:03
Speaker 1: you can't make a missile without silver.
0:04
Speaker 2: You can't build the internet.
0:06
Speaker 1: Think about if if you had internet issues because you
0:08
Speaker 1: didn't have enough silver, And how much business depends on
0:13
Speaker 1: the Internet in terms of manufacturing, communications, all of that
0:18
Speaker 1: kind of stuff. I mean, you're talking about a threat
0:20
Speaker 1: to the global economy.
0:21
Speaker 3: You are listening to Carrie Leutz's Financial Survival Network, where
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Speaker 3: Survival Network now more than ever.
0:49
Speaker 4: And welcome you are listening to and watching the Financial
0:52
Speaker 4: Survival Network. I'm your host, Charity Letts. Well today it's
0:57
Speaker 4: kind of an off day, it's a holiday, but it
0:58
Speaker 4: guess market's still open. And man, silver hits another high
1:05
Speaker 4: as I'm looking at it right now, ninety four and change.
1:09
Speaker 4: And well my next guest, you know, well Robert Kitz. Robert,
1:14
Speaker 4: great to have you back on the show. Man. There's like,
1:19
Speaker 4: it's unbelievable, what's happening. I mean, I'm not surprised because
1:24
Speaker 4: back in May when silver broke thirty two and a half,
1:28
Speaker 4: that was when I knew it was going way higher.
1:31
Speaker 4: There was no question, And thirty five was the psychological number,
1:37
Speaker 4: but thirty two and a half was the technical number.
1:41
Speaker 4: And now we're pretty close to one hundred. What is
1:46
Speaker 4: the nexus the basis of this run up in silver
1:50
Speaker 4: prices from your perspective.
1:53
Speaker 1: Yeah, you know, there's a lot of there. Okay, So
1:56
Speaker 1: I wanted to address this a little bit from what's
2:01
Speaker 1: going on in social media. So there we'll back up
2:05
Speaker 1: a little bit. So silver has been in supply deficit
2:08
Speaker 1: for about five years if you look at what the
2:09
Speaker 1: miners are putting out versus what the world uses, and
2:13
Speaker 1: people like me who are golden silver bugs who've been
2:16
Speaker 1: reporting on this for a number of years, have written
2:18
Speaker 1: articles about it and done social media about it, and
2:21
Speaker 1: for a long time they would say there's a coming
2:23
Speaker 1: silver shortage versus coming silver shortage, and people you know,
2:25
Speaker 1: would say, yah, yeah, we're fine.
2:27
Speaker 2: They'll just make more.
2:28
Speaker 1: And what people don't understand is most silver comes from
2:31
Speaker 1: other minds. Almost three quarters of it comes from other minds,
2:33
Speaker 1: like Opera cut. Yeah, byproducts. So it's really hard to
2:38
Speaker 1: adjust the amounts of silver produced in mines every year
2:41
Speaker 1: to meet demand because really these other minds, like if
2:44
Speaker 1: you look at Freeport mcmaran, their massive mind out in Indonesia,
2:48
Speaker 1: silver is like not even, it's not even.
2:51
Speaker 2: They could throw it away.
2:52
Speaker 1: It's not even a concern to them compared to what
2:54
Speaker 1: they're getting for the other metals are pulling out that
2:56
Speaker 1: mind and a lot of other minds which you're mining
3:00
Speaker 1: these other metals and silver or maybe a little bits
3:02
Speaker 1: of silver and gold come.
3:03
Speaker 2: Out as a byproduct.
3:04
Speaker 1: They're not going to change their production schedules for you know,
3:08
Speaker 1: the increase in silver, because it costs them.
3:10
Speaker 2: More to do it.
3:10
Speaker 1: If you're going to spend billions of more dollars world
3:14
Speaker 1: wide to mine copper to get some silver out of
3:16
Speaker 1: the ground, who's going to pay for the you know
3:18
Speaker 1: it would be And plus it costs money to increase mining,
3:22
Speaker 1: and it costs capital investment. So the constraint on silver
3:26
Speaker 1: really has always been how quickly can you build up
3:31
Speaker 1: the primer silver minds it's about twenty seven to twenty
3:33
Speaker 1: eight percent of silver output, and how do you butchers
3:37
Speaker 1: yourself against the fact that the world is using so
3:40
Speaker 1: much silver because we live in a technological world and
3:43
Speaker 1: silver is used in everything. Hence why the US made
3:45
Speaker 1: it a critical mineral this summer. I mean it's using
3:49
Speaker 1: everything carry so so everybody's using it, but the supply
3:53
Speaker 1: domin characteristics they're not really manageable.
3:55
Speaker 2: And what we're seeing is like.
3:59
Speaker 1: This realization finally of the world that five years into
4:03
Speaker 1: this mining shortage and we've depleted most of the above
4:07
Speaker 1: ground stocks that sitting these big exchanges around the world.
4:10
Speaker 1: You know, those are coming down to the point in
4:11
Speaker 1: which the whole world's figured out, oh crap, we're going
4:14
Speaker 1: to be out of silver. And to get more out
4:17
Speaker 1: of the ground. If you want to develop a new
4:19
Speaker 1: silver mine or any mine that has in gold and
4:21
Speaker 1: silver in it, sometimes it takes five to ten years.
4:23
Speaker 1: It depends.
4:24
Speaker 2: A lot of these mines are in the middle of nowhere.
4:26
Speaker 1: There's no infrastructure, and it's not a matter of just
4:29
Speaker 1: somebody signing a piece of paper and the government approving it.
4:31
Speaker 1: You got to build inversts are going to build roads.
4:34
Speaker 1: I mean, the investment is is could be billions upon billions.
4:37
Speaker 2: Of dollars, and you know there there are worldwide.
4:42
Speaker 1: Overall, there's a shortage of availability to demand from output.
4:47
Speaker 1: But the amount of stock posts we had see on
4:50
Speaker 1: exchange is thank goodness, were enough to give us a
4:52
Speaker 1: five year le time. And those that were paying attention,
4:55
Speaker 1: you know, investors or even countries like in the United
5:01
Speaker 1: States noticing the issue are now jumping in it. The
5:04
Speaker 1: Trump's administration has committed four billion to silver specifically this
5:08
Speaker 1: year one and to buy silver in two and to
5:10
Speaker 1: have be in to rebuild the supply chain, which is good.
5:13
Speaker 1: It's it's probably five years too late to start doing this,
5:16
Speaker 1: but at least they're doing something.
5:18
Speaker 4: Yeah, well, they got to do something, right. I mean,
5:21
Speaker 4: it is a vital, vital metal. I mean, life as
5:27
Speaker 4: we know it, as somebody once said, would cease to
5:30
Speaker 4: exist if we didn't have silver, right.
5:34
Speaker 2: It would.
5:34
Speaker 1: And I've gone as far as the Satan people think
5:37
Speaker 1: I'm nuts, and maybe I am, but I said, silver's
5:39
Speaker 1: probably is critical to the world communist oil because you
5:42
Speaker 1: can't make a missile without silver.
5:43
Speaker 2: You can't build the internet.
5:44
Speaker 1: Think about if if you had internet issues because you
5:47
Speaker 1: didn't have enough silver, and how much business depends on
5:52
Speaker 1: the internet in terms of manufacturing, communications.
5:56
Speaker 2: All of that kind of stuff.
5:57
Speaker 1: I mean, you're talking about a threat to the global
6:00
Speaker 1: it's just become that important.
6:03
Speaker 2: And here in the US.
6:04
Speaker 1: Here and I were talking off air before the recording,
6:05
Speaker 1: you know, we were talking about the fact that the
6:07
Speaker 1: price of silver has quadrupled in about two ish to
6:11
Speaker 1: you know, a little bit two plus years, and I
6:14
Speaker 1: don't think it's ever seen that in that short of
6:16
Speaker 1: a time in the history. And if you look at
6:17
Speaker 1: the chart, it's it's it looks like a blow off.
6:19
Speaker 1: And but in the United States, here's the funny thing,
6:23
Speaker 1: all of this has occurred without the US retail investor
6:26
Speaker 1: getting involved. The US retail investors, it's like they're oblivious.
6:30
Speaker 1: I don't know if they're chasing tech socks or bitcoin
6:32
Speaker 1: or paying attention to gold.
6:34
Speaker 2: They're not in it.
6:35
Speaker 1: And you know, I was hit my friend's coinshop and
6:39
Speaker 1: out in Sebastian, Florida this past week.
6:43
Speaker 2: And he's just opened a couple of months ago.
6:44
Speaker 1: He's a good friend of mine and he's executive victor
6:47
Speaker 1: for citizens for some money. And you know, he's gotten
6:49
Speaker 1: really in the gold and silver last few years. And
6:53
Speaker 1: we're having new people come in and they're buying announce
6:55
Speaker 1: or two at a time. But we also at the
6:57
Speaker 1: same time people coming in and dropping down five thousand
6:59
Speaker 1: dollars bags of constitutional or drunk silver.
7:03
Speaker 2: And it was funny.
7:04
Speaker 1: In Florida, if you bring jewelry in or jewelry pieces
7:08
Speaker 1: in because of laws, the customer has to basically give
7:12
Speaker 1: a full profile to do that, you know, because of
7:15
Speaker 1: theft and stuff.
7:15
Speaker 2: So this guy brought.
7:16
Speaker 1: It this little piece of a gold chain, this big
7:19
Speaker 1: and we figured out melt it was worth about forty
7:21
Speaker 1: bucks as a fourteen carrot, you know, you figure all
7:23
Speaker 1: that out. And so for forty dollars, this guy sat
7:26
Speaker 1: there and answered a twenty minute questionnaire. You know people
7:30
Speaker 1: are selling but job rags right, yeah, it's it's for
7:34
Speaker 1: any coin dealer or pawn shop in Florida. You have
7:36
Speaker 1: fill out this this government website. And because of theft
7:39
Speaker 1: and things, and they just want to make sure that
7:40
Speaker 1: people aren't, you know, pawning off.
7:42
Speaker 2: So anyway, we give him his forty bucks.
7:43
Speaker 1: And I looked at Daniel and I was like, that
7:45
Speaker 1: guy just sat there for twenty minutes and answer a
7:47
Speaker 1: question for questionnaire for forty bucks. People are still selling
7:50
Speaker 1: in you they need money because of inflation is killing
7:52
Speaker 1: them and they're selling you know, whatever they got. And
7:56
Speaker 1: so we're at ninety five dollars silver without US retail
8:00
Speaker 1: even getting involved. And I you know, I'm wondering if
8:02
Speaker 1: we actually officially run out of silver before US retail
8:05
Speaker 1: pays attention. I mean, is the price is going to
8:06
Speaker 1: be two hundred dollars an ounce or you know what's
8:09
Speaker 1: going to happen. It's it's the weirdest market. It's not
8:11
Speaker 1: like two thousand and twenty eleven.
8:13
Speaker 4: No, no, nothing like that at all. Un Plus, the
8:16
Speaker 4: goal to silver ratio, let's not forget that.
8:20
Speaker 1: Yeah, that's I mean right now is sitting at forty nine,
8:22
Speaker 1: a little over forty nine to one, and it wasn't
8:24
Speaker 1: that long ago, was sitting at one hundred to one.
8:26
Speaker 1: So silver's beating gold in terms of return. Well, this
8:29
Speaker 1: is kind of normal because gold will go first before
8:31
Speaker 1: silver typically. And the signs were there earlier this year
8:34
Speaker 1: when you saw people getting into SLV, which is a
8:37
Speaker 1: silver ETF. That's a sign that there's some interest, but
8:40
Speaker 1: people aren't going to buy the physical. And then you
8:41
Speaker 1: saw the premium South American silver Eagles, which is the
8:45
Speaker 1: most popular coin, and they and the mint purposely limits
8:47
Speaker 1: so is they really shouldn't buy law.
8:49
Speaker 2: But they do.
8:50
Speaker 1: And then I thought, Okay, silver's you know, going to
8:53
Speaker 1: start becoming a little bit more popular, and it has.
8:56
Speaker 2: But we're not, you know, we're not sitting in a
8:58
Speaker 2: retail suv boom.
8:59
Speaker 4: Yet they're doing ETFs. Man, they're not. They're not really
9:05
Speaker 4: buying the physical stuff.
9:07
Speaker 1: Right, They're not yet, And that's it's encouraging, but it's
9:12
Speaker 1: also I'm thinking, where's the price going to go?
9:15
Speaker 2: You know?
9:15
Speaker 1: Years ago I had I did an interview at New
9:18
Speaker 1: Orleans investment conference with David Morgan. We sat out and
9:20
Speaker 1: I did an interview for my channel and I said
9:22
Speaker 1: to ultimately, if you look at the debt printing and
9:24
Speaker 1: all that, what could gold silver band? When he came
9:26
Speaker 1: to silver, he said six hundred dollars an ounce And
9:27
Speaker 1: I said, David, do you ever think there that we'll
9:29
Speaker 1: ever actually get there or that they'll allow it to
9:32
Speaker 1: get there. Because it's so important in the world of comedy,
9:34
Speaker 1: they may not want to put like a circuit breaker
9:36
Speaker 1: on that, you know what I mean, like they do
9:38
Speaker 1: on the stock market. And Roston Benham, who's the CFTC
9:41
Speaker 1: Comission at the time few years ago, said he did.
9:43
Speaker 2: They limited silver at thirty.
9:44
Speaker 1: Bucks, but they didn't let it rise, and he came
9:46
Speaker 1: out at Bocavian said it because yeah, it's too important
9:51
Speaker 1: to a world of comedy. So I don't know if
9:53
Speaker 1: we're ever going to get to six hundred dollars silver.
9:55
Speaker 1: I don't have a clue, but just looking at its
9:57
Speaker 1: importance to the cont and and this is just the
9:59
Speaker 1: end strull, I mean, gotten to the monetary demand yet
10:02
Speaker 1: at least not in the US. I mean, I don't
10:04
Speaker 1: know where it's going to go. It's exciting, it's fun,
10:06
Speaker 1: and I'm happy for all those silver stackers for the
10:08
Speaker 1: last twenty years have been grumbling about silver hitting it
10:10
Speaker 1: anywhere from eleven to twenty dollars and going bouncing back
10:13
Speaker 1: around that for twenty years.
10:15
Speaker 4: So, uh, you know, and for retail, if you go
10:20
Speaker 4: to sell your silver and you have forty percent or
10:23
Speaker 4: ninety percent, they're giving you under spot. And yet in
10:27
Speaker 4: China it's it's over one hundred dollars an ounce. Yeah.
10:32
Speaker 1: Here in the US, I a lot of times will
10:35
Speaker 1: buy scrap gold and silver because we turn it into
10:38
Speaker 1: coins and bars for kinesis it's one of our areas
10:41
Speaker 1: of supply, right, we work in all areas of the market,
10:43
Speaker 1: and I can buy it under spot, you know, wholesale underspot,
10:48
Speaker 1: the Constitutional stuff, and a lot of the three nines,
10:51
Speaker 1: the bars and stuff.
10:51
Speaker 4: You know.
10:52
Speaker 2: It may be it's risen lately, but it was cheaper now.
10:56
Speaker 1: I think a lot of the big sites are listing
10:59
Speaker 1: coins and bars, you know.
11:01
Speaker 2: Yeah, wholesale three.
11:03
Speaker 1: Bucks overspot, retail seven eight bucks overspot. But that's that's
11:06
Speaker 1: just happened in the last week.
11:07
Speaker 4: Yeah, I knew it was going to happen, which is why,
11:11
Speaker 4: like things like war nickels turned out to be asymmetric
11:16
Speaker 4: plays because three weeks ago you could buy them twenty
11:19
Speaker 4: to thirty percent under melt right. Yeah, and soon they'll
11:24
Speaker 4: be trading at a premium like everything else. Because we're
11:28
Speaker 4: talking about shortages here. We're physical shortages. We're not talking
11:32
Speaker 4: about paper, We're not talking about you know, temporary dislocations. Here,
11:40
Speaker 4: it's demand driven. Yeah, there's certainly a monetary aspect to
11:45
Speaker 4: it to some extent, but fundamentally this is a demand
11:48
Speaker 4: driven increase, right.
11:51
Speaker 1: It is, and again without US retail participating, and it's okay.
11:56
Speaker 1: People are talking about is the comics broken? And I
11:58
Speaker 1: have to explain this for just where your spot price
12:01
Speaker 1: comes from. Is this paper market and it's traded you
12:03
Speaker 1: know up in back East as we say, in the
12:06
Speaker 1: financial markets, and that trade is what determines spot price.
12:10
Speaker 1: But it's it's a it's a gamble on what silver
12:12
Speaker 1: is going to be two to three months in the future.
12:13
Speaker 1: It's a futures market. You play, you buy a contract
12:15
Speaker 1: three or four months in the future and impending on
12:17
Speaker 1: what happens to you to make money or lose money.
12:19
Speaker 1: And a lot of big banks are in on this
12:22
Speaker 1: and that has really controlled the spot price for a
12:24
Speaker 1: long time. And it wasn't a function of physical demand,
12:29
Speaker 1: whether it be monetary or a need for you know
12:32
Speaker 1: silver in our industry. And people say, well it could
12:37
Speaker 1: it break and could the comic shut down? No, because
12:40
Speaker 1: the way that the comex trades is they have liquidation
12:42
Speaker 1: and forced cash settlement to where they don't they don't.
12:46
Speaker 2: It's it's not really a delivery market, and.
12:50
Speaker 4: It's a hedge market, that's what it is.
12:53
Speaker 1: It's an edge and to some extent like a gambling casino,
12:56
Speaker 1: much like the stop market can be. I mean you
12:59
Speaker 1: there are people that buid up prices of stocks all
13:00
Speaker 1: the time. You know how that works. But you know,
13:04
Speaker 1: so that's not going to hardbreak or default, and it
13:07
Speaker 1: didn't need to for soilver to go to ninety five.
13:09
Speaker 1: And so I'm trying to get people's eyes off of
13:11
Speaker 1: that market and say that's not you know, that's that's
13:14
Speaker 1: not the focus. The focus now is that silver and
13:17
Speaker 1: gold are trading more to their physical supply and demand,
13:21
Speaker 1: and that switch is leading those those markets, and that's
13:25
Speaker 1: a good thing. I would even say, if we talk
13:29
Speaker 1: about gold here for a minute, that that go you know,
13:32
Speaker 1: in mid twenty twenty four, about July August timeframe, Gold separate.
13:36
Speaker 1: Gold have been trading from twenty twenty, twenty twenty four
13:39
Speaker 1: almost in line with the CPI, with some exceptions. But
13:44
Speaker 1: if you charted it out to CPI, which is the
13:46
Speaker 1: government version of inflecation, goals pretty close. And it broke
13:49
Speaker 1: away a mid twenty twenty four, broke away from the dollar,
13:52
Speaker 1: it broke away from oil, it broke away from all
13:54
Speaker 1: commodities and inflation and gold. I think things are being
13:56
Speaker 1: traded in gold now. I think gold is the new
14:00
Speaker 1: not the official.
14:03
Speaker 2: Monetary ass of the world.
14:04
Speaker 1: But the unofficial monetary asset, the central banks have it
14:07
Speaker 1: bazl through all that kind of stuff. They've capitalized the
14:10
Speaker 1: central banks with tons of gold. There was more gold
14:13
Speaker 1: bought by central banks in twenty twenty five at any
14:15
Speaker 1: time in history, and that's been going on since twenty eleven.
14:18
Speaker 1: And so gold has separated and it's becoming a monetary
14:22
Speaker 1: asset and things are going to be measured in gold.
14:24
Speaker 1: So when you look at what's gold value, it doesn't
14:26
Speaker 1: really matter look at in terms of the dollar. It's
14:28
Speaker 1: what is it to oil? What is it to you know,
14:31
Speaker 1: other things that we use. And silver hasn't quite entered
14:35
Speaker 1: that phase yet, the monetary phase, you know, but if
14:38
Speaker 1: it gets down to like say a fifteen to twenty
14:41
Speaker 1: to one ratio gold to silver, and silver rises out high,
14:44
Speaker 1: now we're going to be talking about silver is like
14:45
Speaker 1: a monetary asset. And I don't think that's too far away,
14:50
Speaker 1: you know, maybe a here or two away from maybe
14:52
Speaker 1: even sooner.
14:52
Speaker 2: Who knows.
14:54
Speaker 1: The run we've been on, it's been astounding, and I
14:57
Speaker 1: think retail's coming soon because you've seen TD Security and
15:00
Speaker 1: Bank of America start talking about it. It's starting just
15:03
Speaker 1: very early stages of it starting to be talked about
15:05
Speaker 1: in the financial media, but are very early stages. We're
15:07
Speaker 1: not in a bubble for sure.
15:09
Speaker 4: Well, you know, my most profitable investment and I'm like
15:13
Speaker 4: embarrassed to say it, not really, but is AGQ the
15:19
Speaker 4: double leverage the ETF? Even though I believe that ETFs
15:24
Speaker 4: are just money furnaces in general, when you catch a
15:29
Speaker 4: trend on a double leverage ETF, it's rocket fuel. Yeah.
15:34
Speaker 1: And the funny thing is there's a triple short of
15:36
Speaker 1: silver and you should see that charts exact opposite.
15:39
Speaker 2: It's probably somewhat close to zero at this point. I
15:43
Speaker 2: feel sorry for people who have to put money into
15:44
Speaker 2: that one.
15:46
Speaker 3: Yeah.
15:46
Speaker 4: Well, if it's part of a hedging strategy, you might
15:48
Speaker 4: be able to justify it. But you know, I think
15:53
Speaker 4: there was a triple upside silver ETF, but I didn't
15:58
Speaker 4: trust that one. It wasn't the quid enough probably is
16:01
Speaker 4: now get it. But you know, then you just take
16:05
Speaker 4: your profits from your ETF and buy the physical right.
16:08
Speaker 2: Mm hmm, Yeah, I mean that's that's what smart people do.
16:12
Speaker 1: The ETFs aren't going to give you the silver the
16:14
Speaker 1: way that their perspectuses are written you're not gonna get
16:17
Speaker 1: access to it yet. To be you have to be
16:19
Speaker 1: one of the big market makers, and the market makers
16:21
Speaker 1: they only have access to it because they have to
16:23
Speaker 1: supply the silver to back up the trade. So it's
16:27
Speaker 1: not a retail silver play. You can get price exposure,
16:30
Speaker 1: but personally, you know, if we're going into real shortages
16:33
Speaker 1: of silver, I'd rather have the physical because you can
16:36
Speaker 1: just go down and sell it at your coinshop or
16:37
Speaker 1: whatever the case may be.
16:38
Speaker 2: We don't want the money, yeah or yeah.
16:42
Speaker 4: It's so interesting. Silver is fascinating. You're a little younger
16:46
Speaker 4: than me, Rob, but I remember when they demonetize silver,
16:49
Speaker 4: the final demonetization in sixty five, and my good friend
16:54
Speaker 4: David Morgan referred to it for the first time I
16:57
Speaker 4: ever heard as Johnson slugs, and I wrote an article
17:02
Speaker 4: the reason, you know, the reason they kept forty percent
17:05
Speaker 4: silver in Kennedy half dollars a lot of the funny
17:10
Speaker 4: this is why I love these little anomalous coins. The
17:14
Speaker 4: reason they did it was because the sixty fours that
17:19
Speaker 4: was the last year they were ninety percent silver, none
17:23
Speaker 4: of them hit circulation. They were all hoarded everybody because
17:28
Speaker 4: it was a memento of President Kennedy, who was so
17:31
Speaker 4: loved by many in the country. For whatever reasons, we
17:35
Speaker 4: don't talk politics here. This is a family show. But
17:41
Speaker 4: then they demonetize the coinage. They take the silver out
17:46
Speaker 4: in sixty five, but they said, we can't take it
17:49
Speaker 4: out of the Kennedys because that'll be cheapening Kennedy's image.
17:55
Speaker 4: So forty percent was the lowest amount they keep in
18:00
Speaker 4: that it would still ring sad like silver, still look
18:05
Speaker 4: like silver until it oxidizes. Where you know, when a
18:10
Speaker 4: forty percent silver dollar oxidizes, half dollar rather oxidizes looks
18:17
Speaker 4: nothing like a ninety percent half dollar, right, Totally different
18:22
Speaker 4: patterns of oxidation, And I just found that fascinating. The
18:27
Speaker 4: other thing I love is forty percent Eisenhower dollars, which
18:33
Speaker 4: were parts of proof sets sold by the Mint. But
18:38
Speaker 4: it's an anomaly and the same there's actually nineteen seventy
18:43
Speaker 4: six s forty percent quarters because that's from the bi
18:47
Speaker 4: centennial Mint set that proof and proof and uncirculated sets
18:55
Speaker 4: that were sold by the Mint. So you have these
18:59
Speaker 4: anomalous things. To me, it's like a war nickel, which
19:03
Speaker 4: is thirty five percent silver. There's eighty percent of the
19:06
Speaker 4: silver and a war nickel, as there is in a
19:10
Speaker 4: pre nineteen sixty five dime, and yet one is a
19:14
Speaker 4: nickel and the other is a dime. It's anomalist, but
19:19
Speaker 4: it happened during World War Two because there was a
19:21
Speaker 4: shortage of nickel and the only way they could keep
19:24
Speaker 4: the weight consistent with for vending machines and parking meters
19:31
Speaker 4: and such was to mix in some silver and manganese.
19:35
Speaker 4: They had to really, you know, metallurgically figure that kind anyway,
19:40
Speaker 4: It's just my little quirk. I love anomalies, things that
19:44
Speaker 4: exist that shouldn't exist, and yet here they are.
19:49
Speaker 2: Yeah, it's a it's a fascinating market.
19:51
Speaker 1: And it's fascinating how silver was such an abundance during
19:53
Speaker 1: the war and it was nickel and now we're turning
19:55
Speaker 1: to help. So it's just a change world and silver
19:58
Speaker 1: has become so important. One other thing I wanted to
20:01
Speaker 1: point out to people is the US Mint had a
20:04
Speaker 1: one to two month lead time on new American Silver
20:07
Speaker 1: Eagle production, and it's it's the most popular coin because
20:10
Speaker 1: it's it represents Americas. Americans are going to buy American
20:13
Speaker 1: coins right, no tax on.
20:15
Speaker 4: It, also, no no gains tax. There's a whole host
20:20
Speaker 4: of reasons why Americans prefer to hold them.
20:23
Speaker 1: Yeah, and so the US MINT is supposed to by law,
20:27
Speaker 1: and there's a section of law where it says that
20:29
Speaker 1: they're supposed to produce these silver eagles as much as
20:31
Speaker 1: people want. And a couple of years ago, Vix Weir,
20:36
Speaker 1: who has a channel, he was interviewing me, was interviewing
20:41
Speaker 1: the guy that ran the MINT and developed the silver
20:43
Speaker 1: Ego program. He was there thirty five years. He was
20:45
Speaker 1: still there at the time.
20:46
Speaker 2: In the interview. I don't know if he still is.
20:47
Speaker 4: Uh can remember this, Yeah, And.
20:50
Speaker 1: The guy said, my bosses came to me and said
20:54
Speaker 1: how many we can we produce without people crying about
20:57
Speaker 1: there not being enough, so that we can ship production
20:59
Speaker 1: to these proof coins. And the reason they wanted proof
21:02
Speaker 1: coins was to make money. So the proofs sell sometimes
21:05
Speaker 1: two to three more depending on the quality and all
21:07
Speaker 1: that kind of stuff. Well, they're not supposed to do that,
21:09
Speaker 1: it's not legal, but it did anyway, because meant, you know,
21:12
Speaker 1: wanted to make money, had different leadership in there, and
21:14
Speaker 1: they were running it like a business instead of anyway,
21:17
Speaker 1: long story short, Now the US.
21:19
Speaker 2: MINT is saying they have.
21:20
Speaker 1: I wanted too much league time before new eagles, and
21:22
Speaker 1: they're not out of silver. They can get silver, sunshine,
21:24
Speaker 1: Mint can can get them more soever if they needed. Yeah,
21:28
Speaker 1: but they've limited and then they've released their proof series
21:32
Speaker 1: in there twice as much. And so I just want
21:34
Speaker 1: people to know that there will be a time at
21:36
Speaker 1: which you will be able to see new American silver
21:38
Speaker 1: regle the regular ones come out at the regular prices,
21:41
Speaker 1: that this isn't the end of American silver eagles, and
21:45
Speaker 1: that the Mint is basically shifted production to the proofs,
21:48
Speaker 1: you know, to make the money. But if you see
21:51
Speaker 1: American silver egal, that's either a proof or it's in
21:53
Speaker 1: a slab, it's a graded coin, and it's trading for
21:56
Speaker 1: one hundred and eighty bucks, that's not the new price
21:58
Speaker 1: of the American silver go new. People getting into this
22:00
Speaker 1: or being told this on social media, and that's not true.
22:04
Speaker 2: Yeah, now you can buy those.
22:06
Speaker 1: There is a secondary market for collectible silver egle, grade
22:09
Speaker 1: ed or proof coins, but just be aware if they
22:12
Speaker 1: don't hold the same value. I used to run a
22:14
Speaker 1: shot and people bring these into me and it may
22:16
Speaker 1: be worth seventy five and I'd pay them fifty to
22:18
Speaker 1: sixty and they'd say why, and I said, because that
22:20
Speaker 1: market moves around so much, is a risk to me
22:22
Speaker 1: to poll actility?
22:24
Speaker 2: Yeah, because it's all collectible.
22:25
Speaker 1: Value and it's not a nineteen thirty three gold coin
22:28
Speaker 1: or one of these old coins which is limited. They
22:30
Speaker 1: can make as many as they want. So just so
22:32
Speaker 1: people understand, if you go to the us MIT's website,
22:34
Speaker 1: they're only going to have the more expensive ones right now.
22:36
Speaker 1: They are collectible set what I call semi collectible, and
22:39
Speaker 1: it's collectible only inasmuch as the original price that the
22:43
Speaker 1: mint wants to issue it. But since they can make
22:45
Speaker 1: as many as they want, it's not necessarily going to
22:46
Speaker 1: hold that back. So if you want American silver eagles,
22:49
Speaker 1: see if you can get the regular, unslabbed, unproof ones first.
22:54
Speaker 1: And if you can't, and I recommend to people buy
22:56
Speaker 1: other sovereign coins like the Mate Beliefs you know, which
22:59
Speaker 1: are which are also very good coins, but they're you know, again,
23:03
Speaker 1: the great thing about this market carriers we have a
23:05
Speaker 1: lot of new people getting involved, but there's also a
23:06
Speaker 1: lot of misinformations.
23:07
Speaker 2: I just want people, if you're getting to such mean
23:09
Speaker 2: and you're seeing this.
23:09
Speaker 1: Just be careful with what you're seeing out there, and
23:12
Speaker 1: be careful of what you're buying and what price you're
23:14
Speaker 1: buying it at.
23:16
Speaker 4: I never bought a mint or a proof set in
23:18
Speaker 4: my life, okay, but three months ago on eBay, they're
23:25
Speaker 4: a nollaly formed where people were selling proofs nineteen ninety
23:30
Speaker 4: nine through two thousand and eight, and the melt value
23:37
Speaker 4: was actually greater than the price they were asking for
23:42
Speaker 4: the Ruth's laws because silver had shot up. But how
23:46
Speaker 4: much people put them on revolving sale, you know, it
23:51
Speaker 4: might only be five to ten percent less, but then
23:55
Speaker 4: when you added in the face value of the non
23:57
Speaker 4: silver coins, you were up like ten twelve percent on
24:01
Speaker 4: some of them. So I bought three or four sets.
24:03
Speaker 4: I never bought a mid proof in my life because
24:07
Speaker 4: it's basically, you know, twenty years from now, thirty years
24:11
Speaker 4: from now, it becomes valuable, but right now it's not.
24:15
Speaker 4: And the you know, and to me, I'm into the
24:20
Speaker 4: I'm into the content, I'm into the weight. I'm not
24:23
Speaker 4: into the you know, collectibility of it, because that comes
24:27
Speaker 4: and goes, right.
24:29
Speaker 2: Yeah, it sure does.
24:31
Speaker 1: Collectible coins at times can do very well. I would
24:33
Speaker 1: say if you're ever. If you're going to do collectible coins,
24:35
Speaker 1: first you have to read a lot. Please read, buy
24:37
Speaker 1: a book, buy a collector's book, and get yourself educated
24:39
Speaker 1: before you ever buy one.
24:41
Speaker 2: But the best collectibles I ever bought were.
24:42
Speaker 1: Pre nineteen thirty three goal coins because they were the
24:45
Speaker 1: money of the realm. They were limited in quantity, and
24:47
Speaker 1: if you bought something that was graded slabbed by a
24:50
Speaker 1: professional greater and it was rare, it would hold its value.
24:53
Speaker 1: And I did very well on those I made. I
24:56
Speaker 1: made a really nice profit when I sold it years later.
24:59
Speaker 1: But not all areas of that market are like that.
25:01
Speaker 1: Just be careful with the collector's market. Now that prices
25:04
Speaker 1: are up, you know you're going to see those collector's
25:06
Speaker 1: coins come out. People are trying to sell them to you.
25:08
Speaker 1: There's a reason why I sould just be you know,
25:10
Speaker 1: be aware of that.
25:11
Speaker 4: Yeah, I agree. All right. Well, hey, so when we
25:15
Speaker 4: have this conversation we talk in three six months, what's
25:18
Speaker 4: your expectation for the silver price.
25:21
Speaker 1: Well, there's so many factors going on. I'm gonna hedge
25:24
Speaker 1: it a bit. I did a video where one hundred
25:26
Speaker 1: and fifty dollars solver this year The only thing that
25:30
Speaker 1: could stop that is even though the physical.
25:34
Speaker 2: Market is starting to take over, the DRIVETI price is
25:36
Speaker 2: still have an impact.
25:37
Speaker 1: So if we go into like a stock market swoon,
25:40
Speaker 1: whenever that happen, whenever we go in the next recession,
25:43
Speaker 1: liquidation yeah, yeah, liquidation of those contracts in the price
25:47
Speaker 1: will come down. So just expect at least at some
25:50
Speaker 1: point we're going to have a correction. Excuse me, and
25:53
Speaker 1: that's true in all all markets. Markets don't go straight
25:55
Speaker 1: up forever, so expect that there will be a correction.
25:58
Speaker 1: It may be fifteen, twenty percent, thirty percent correction. I
26:01
Speaker 1: don't think it's permanent because of the demand for the physical,
26:05
Speaker 1: but just know that when you buy it now, maybe
26:08
Speaker 1: it goes to one hundred and fifty, maybe it goes
26:09
Speaker 1: to two hundred, but at some point it's going to
26:10
Speaker 1: pull back. So just be aware as you're buying, as
26:12
Speaker 1: you're getting in and buying up you know a dollar
26:15
Speaker 1: cost average way, and understand that you can't call the peek,
26:17
Speaker 1: and nobody's really good at calling the tops, or they're
26:21
Speaker 1: not necessarily good at calling.
26:23
Speaker 2: How long you're going to be in a pullback?
26:25
Speaker 1: There are millions millions of people trading these markets, but
26:28
Speaker 1: just expect it's going to happen. You know, if we
26:30
Speaker 1: didn't I set up my video, if we don't hit
26:32
Speaker 1: one hundred fifty dollars silver in twenty twenty six, I
26:35
Speaker 1: would be absolutely shocked.
26:37
Speaker 4: Yeah, well, one thing I'm seeing here in this market,
26:42
Speaker 4: and I know you follow it like me. After you
26:45
Speaker 4: have a big increase like today we have four and
26:48
Speaker 4: a half bucks and last week, I think it was Wednesday,
26:53
Speaker 4: we had five, then they instantly get slammed on COMEX instantly,
27:00
Speaker 4: like right, I mean, we're not imagining this. It happens.
27:04
Speaker 4: But the rebound from the Comex slam is so quick now.
27:10
Speaker 4: It used to take months when we had a major slam,
27:14
Speaker 4: or even weeks. Then it went to days. Now it's
27:18
Speaker 4: it's almost ours.
27:20
Speaker 1: It's ours, that's exactly right. And you know the silver trains,
27:24
Speaker 1: it's it's left the depot. It's I don't to get
27:28
Speaker 1: enough silk, especially if we go to more wars, because
27:30
Speaker 1: wars just multiply the need for silver. There are one
27:33
Speaker 1: hundreds ounces used in missiles and we don't know the
27:35
Speaker 1: exact amount, but I've seen various estimates and.
27:37
Speaker 4: I've heard eighty for a cruise missile. I've studied it.
27:41
Speaker 4: It's actually in the batteries, but I've heard as much
27:44
Speaker 4: as seven eight hundred. I think it's closer to eighty,
27:47
Speaker 4: but eighty is still that's a lot of that's eight
27:51
Speaker 4: thousand bucks almost. The silver that just vaporizes into thin air.
27:57
Speaker 1: It does, and it's used in all their communication equipment.
27:59
Speaker 1: So silver, I think at this point, is going to
28:02
Speaker 1: be impervious to a recession.
28:04
Speaker 4: It's in this is this, Yeah, well, every piece of
28:10
Speaker 4: equipment on my desk here, it's all used in medicine.
28:14
Speaker 4: It's used.
28:15
Speaker 1: My girlfriend's a nurse and she's like all the band
28:18
Speaker 1: aids we use in the hospital and the wraps are
28:20
Speaker 1: all and you'll get silver because they're antimicrobial. So silver
28:25
Speaker 1: is used in everything. It's indispensable. So I don't We're
28:27
Speaker 1: never going to see twenty dollars silver again in my lifetime.
28:30
Speaker 2: I don't think.
28:31
Speaker 1: I mean, it's possible that they find a big new
28:33
Speaker 1: trope somewhere and they mine it.
28:35
Speaker 2: I just doubt it.
28:35
Speaker 4: Ocean ocean mining is really the only thing I mean, yeah, yeah, well,
28:41
Speaker 4: let's not even talk about mining anyway. Rob tell Us
28:44
Speaker 4: the best place to find your work, how to connect
28:46
Speaker 4: with you on the web.
28:47
Speaker 1: It just go the Freedom Report on social So I'm
28:49
Speaker 1: on substack, Twitter and YouTube.
28:51
Speaker 2: Just look up the Freedom Report and you'll find me.
28:52
Speaker 4: All right, Hey, I'm on substack too. Best move I
28:55
Speaker 4: ever made. It totally got rid of the need to
28:58
Speaker 4: have a website updates. I mean, my website was costing
29:03
Speaker 4: me thousands of dollars a month webmaster and now substack
29:07
Speaker 4: does it all. I about there as well. I will
29:10
Speaker 4: recommend you, you recommend me, and I've get some subs.
29:15
Speaker 4: I'm up to over well, I was over fifty thousand
29:19
Speaker 4: subs a little bit under right now. I mean, the
29:23
Speaker 4: community's huge. It's just the best thing. I can't say
29:27
Speaker 4: enough good things about it and your work as well.
29:30
Speaker 4: We will talk to you again soon. You've got a
29:32
Speaker 4: question or comments, rub shoot me an email Klatcarrie Lets
29:36
Speaker 4: dot com. Rob We'll talk to you in a few
29:39
Speaker 4: months and see where this thing goes.
29:40
Speaker 2: All right, sounds good.
29:42
Speaker 3: Thanks for listening to Carrie Let's's Financial Survival Network, your
29:46
Speaker 3: solution to today's trying times. For the latest, go to
29:50
Speaker 3: Financial Survivalnetwork dot com. Financial Survival Network now more than ever,