Latest / The Crest Report / Dalio's 3-Year Debt Countdown, BlackRock Is Inside Your 401k, and Gold Is on Fire

Transcript

Dalio's 3-Year Debt Countdown, BlackRock Is Inside Your 401k, and Gold Is on Fire · The Crest Report

• 0:08
  SPEAKER_00: From Golden Crest Metals, this is the Crest Report, where markets meet reality.
• 0:13
  SPEAKER_00: Your weekly briefing on the economy, gold, silver, and protecting what you've built.
• 0:18
  SPEAKER_00: And now, here's your host, Jeremy Harrell.
• 0:23
  SPEAKER_01: Well, good afternoon, or good morning, everybody.
• 0:27
  SPEAKER_01: Welcome to the Crest Report.
• 0:29
  SPEAKER_01: My name is Jeremy Harrell here from GoldenCrestMetals.com.
• 0:35
  SPEAKER_01: It is really, really, really great to have you guys here today.
• 0:39
  SPEAKER_01: I'm so excited because markets are booming.
• 0:44
  SPEAKER_01: And when I say booming, ladies and gentlemen, I'm talking like dynamite booming.
• 0:50
  SPEAKER_01: If you are a precious metals owner, you are probably a very happy camper today.
• 0:58
  SPEAKER_01: Why?
• 0:59
  SPEAKER_01: Just look at the silver, look at the gold, look at the prices, look at the trends, and look what's happening.
• 1:07
  SPEAKER_01: It's a good day out there for those who are invested in silver, gold, platinum, and platinum as a way to diversify your portfolio.
• 1:19
  SPEAKER_01: Because as we know, in 2026 and in the future, we can't count on an income from Social Security, and we cannot count on anybody to come and save us.
• 1:32
  SPEAKER_01: There's no financial Superman out there or some financial superhero that's gonna do it.
• 1:39
  SPEAKER_01: You know who that is?
• 1:40
  SPEAKER_01: That's you.
• 1:41
  SPEAKER_01: You can become your own financial superhero today by calling 888-991-6222.
• 1:54
  SPEAKER_01: That's 888-991-6222.
• 1:57
  SPEAKER_01: You can call at any time during the show or throughout the day.
• 2:01
  SPEAKER_01: And somebody will be here ready to take your phone call and ready to customize a plan just for you, your needs, and your portfolio.
• 2:12
  SPEAKER_01: You can also visit myfregoldinfo.com.
• 2:17
  SPEAKER_01: That is myfreegoldinfo.com and you can learn how you might be eligible for a free portfolio review, a free investor's kit, and up to$25,000 in free silver.
• 2:33
  SPEAKER_01: I wouldn't even be able to calculate what$25,000 of free silver would look like in 20 years.
• 2:41
  SPEAKER_01: Also, you can text the word report to Metals.
• 2:44
  SPEAKER_01: That's texting the word report to M-E-T-A-L-S or 638-257.
• 2:52
  SPEAKER_01: That's report to Metals or report to 638-257.
• 2:57
  SPEAKER_01: Again, my name is Jeremy Harrell, and boy, do we got some stuff to go through today.
• 3:02
  SPEAKER_01: So I don't know what time it is where you might be listening right now, but if it's a morning time, grab your coffee and buckle up.
• 3:12
  SPEAKER_01: Because I'm about to throw some information at you at supersonic speed.
• 3:17
  SPEAKER_01: But I will make sure that I touch on those points that you need to hear today that really give you the information that you need to make the best informed decision that you can for you, your wife, your family, your husband, your children, your future, whatever it is that you are, you know, saving for and looking to protect, uh, you're gonna get all the information you need today to make an informed decision about gold, silver, palladium, and platinum.
• 3:48
  SPEAKER_01: I want to kind of go through some of the topics that we're going to be talking about today, some of the issues uh that we're gonna be breaking down and some of the amazing um not really ebbs and flows, really kind of ev's.
• 4:02
  SPEAKER_01: You know what I mean?
• 4:03
  SPEAKER_01: Like there's some there's been some steep, steep mountains climbed for the price of still silver and gold lately.
• 4:09
  SPEAKER_01: So we're gonna obviously talk about that uh in the first segment today.
• 4:13
  SPEAKER_01: We're gonna be talking about um Ray Dalio, who just put a three-year countdown on the U.S.
• 4:21
  SPEAKER_01: debt crisis as we have now crossed$40 trillion.
• 4:26
  SPEAKER_01: And you know what he says?
• 4:30
  SPEAKER_01: 15% gold is what you should buy of your portfolio right now.
• 4:35
  SPEAKER_01: Of your portfolio, 15% of it should be gold.
• 4:39
  SPEAKER_01: So we're gonna get into all of that.
• 4:42
  SPEAKER_01: Uh, in the second segment today, we're gonna be talking about the Fed.
• 4:48
  SPEAKER_01: And uh, because Jackson Hole is Friday, and we are expecting to hear from the new Fed chairman, Kevin Warsh, which will be, as we spoke about last week, his very first full speech.
• 5:02
  SPEAKER_01: And it could move every asset you own.
• 5:06
  SPEAKER_01: Now we've been getting some, I mean, outside of debt, obviously, outside of interest payments on that debt, obviously, those aren't good things.
• 5:16
  SPEAKER_01: But outside of that, we've been getting some very good news on the economy when it comes to stock, when it comes to inflation, when it comes to job reports numbers, like some things are starting to really, you know, have it seems like we've made that turn.
• 5:31
  SPEAKER_01: I don't want to say we have completely, because, you know, anytime that the uh anytime that the financial gurus and the Fortune 500 companies and the government are involved, you never know what could happen, right?
• 5:44
  SPEAKER_01: We don't that is why we're constantly talking about the absolute necessity to own silver and gold.
• 5:52
  SPEAKER_01: Because it's it's it's one of those things that you have that you own physically that nobody can really manipulate or or overinflate or undervalue, or it it's it's yours, it's it's tangible, it's worth something, and it's not at the will of somebody else.
• 6:11
  SPEAKER_01: So at least not as much as all these other things are.
• 6:15
  SPEAKER_01: So it's really hard to tell, but it does feel like we have, you know, kind of made that turn.
• 6:21
  SPEAKER_01: So we're gonna be talking about Kevin Walsh and his speak, um, Jackson Hole is Friday.
• 6:28
  SPEAKER_01: In the third segment of today's show, we're gonna be talking about economic D-Day versus Iran.
• 6:36
  SPEAKER_01: And the sanctions are maxed out now.
• 6:39
  SPEAKER_01: So now what?
• 6:41
  SPEAKER_01: What is the next?
• 6:43
  SPEAKER_01: I mean, they hit him pretty hard with sanctions.
• 6:46
  SPEAKER_01: Scott Besson came out this week uh and last week and talked about exactly what they were planning to do as far as continuing to put pressure on sanction and really put the f their foot on the economic neck of Iran.
• 7:09
  SPEAKER_01: And I remember when Iran was basically under the impression that they were going to, you know, outweight the United States of America, um, especially going into an election year.
• 7:24
  SPEAKER_01: They're like, well, we'll just, you know, we can outweight you.
• 7:28
  SPEAKER_01: But I don't really know if that's the case, especially now since these massive uh, since these massive sanctions have been put on them.
• 7:43
  SPEAKER_01: And it's a very different it it these are historic sanctions that were put on the country of Iran.
• 7:50
  SPEAKER_01: So we're gonna talk about that in the uh the segment following that segment.
• 7:56
  SPEAKER_01: We will be talking about, we're gonna dive deep into gold, and it's amazing, amazing run right now.
• 8:03
  SPEAKER_01: It is on fire.
• 8:06
  SPEAKER_01: If you could burn gold, gold would be burning right now.
• 8:10
  SPEAKER_01: And there's some really, really, really good news surrounding gold.
• 8:15
  SPEAKER_01: And then we're gonna get into the next topic, which is obviously like we do every week, silver, it's doing the same thing.
• 8:21
  SPEAKER_01: It is rallying right now.
• 8:23
  SPEAKER_01: So I am very, very, very excited about all of that, okay?
• 8:28
  SPEAKER_01: And the segment following that, which will be close to the end of the show, it might be the most uh it might be the most important segment of today's show because Dalio says sell bonds.
• 8:44
  SPEAKER_01: The Fed is talking about digital money at Jackson Hole, and your 401k is a tax trap.
• 8:53
  SPEAKER_01: And not only that, I have another piece of information about your 401.
• 8:59
  SPEAKER_01: I was in a seminar last weekend, and actually the seminar was Thursday of last week, and then it they did a follow-up seminar on Saturday.
• 9:10
  SPEAKER_01: And that seminar was really all about, you know, taking your own financial future and your own destiny in your own hands and being about as autonomous as you can get.
• 9:21
  SPEAKER_01: Well, when it comes to your 401ks, a majority of Americans, and I believe that there's probably, I don't know, close to 80 million Americans that this affects, which is, you know, that's a that's that's quite a population size, 80 million.
• 9:35
  SPEAKER_01: Um most people do not manage their own 401.
• 9:41
  SPEAKER_01: And most people have a financial group like Fidelity or I don't know what you you have somebody that manages your 401k investments.
• 9:53
  SPEAKER_01: And a majority of the country have no idea where those investments are being made.
• 9:57
  SPEAKER_01: As a matter of fact, the majority of the country, when you go look at your 401k, that's really all you do is look at your 401.
• 10:05
  SPEAKER_01: You might get your statements in the mail every quarter whenever they send them to you, and you might say, okay, we invested in this, this, this, this, this, this, and this.
• 10:12
  SPEAKER_01: That's great.
• 10:14
  SPEAKER_01: But what would you say if I told you that a law has been signed that allows BlackRock to basically have control over the investments of your 401k for their benefit, for their profit, and their growth.
• 10:38
  SPEAKER_01: Now, some of you listening might not know who or what BlackRock is, but BlackRock is one of those major global corporate financial institutions that own massive amounts of wealth and real estate and banks and you name it, BlackRock and Vanguard are probably at the tip of that spear.
• 11:06
  SPEAKER_01: And for those who do know about BlackRock, I have a feeling that as soon as I said that, that that law has been passed that now gives them access to use and dip into your 401k as a silent uh manager of it to further their aspirations, goals, and agenda, then you're probably going, um, no thanks.
• 11:33
  SPEAKER_01: I don't like that.
• 11:34
  SPEAKER_01: So that might be the most important core segment of today's show.
• 11:39
  SPEAKER_01: Having said that, let's get started.
• 11:43
  SPEAKER_01: Again, at any time during this show that you want to call in, that you have questions, that you're ready to pull the trigger, that you are ready to sit down and see if you qualify for all of these, you know, uh offers that Golden Crest Medals is offering right now, 888-991-6222.
• 12:02
  SPEAKER_01: That is 888-991-6222.
• 12:09
  SPEAKER_01: You can also text the word report to medals.
• 12:11
  SPEAKER_01: That's M-E-T-A-L-S.
• 12:13
  SPEAKER_01: That's texting the word report to medals, which is also texting the word report to 638257, and the website, very easy to remember, remember, myfreegoldinfo.com.
• 12:26
  SPEAKER_01: Because that's what Golden Crest Medals is all about.
• 12:29
  SPEAKER_01: Giving you information for free.
• 12:34
  SPEAKER_01: Let's get into it.
• 12:36
  SPEAKER_01: Segment one today, we're going to be talking about Ray Dalio, who just put a three-year countdown on the U.S.
• 12:42
  SPEAKER_01: debt crisis and said to buy 15% gold now.
• 12:48
  SPEAKER_01: In a LinkedIn post that went viral, the founder of the world's largest head fund said investors should sell bonds and put 10 to 15% of their portfolio in gold now.
• 13:04
  SPEAKER_01: So why did he say that?
• 13:05
  SPEAKER_01: Well, he warned that the U.S.
• 13:07
  SPEAKER_01: debt crisis could arrive in three years, give or take two.
• 13:12
  SPEAKER_01: So you're took you're looking at a year to five years.
• 13:18
  SPEAKER_01: Now, what is he talking about when he says the US debt crisis?
• 13:24
  SPEAKER_01: He's talking about the$40 trillion in debt that we are right now, and our interest payments have now exceeded our national defense budget, which is by far the largest in the world.
• 13:42
  SPEAKER_01: Now, our entire economy is, depending on who you ask or where you source from, is probably seven to nine trillion dollars annually.
• 13:55
  SPEAKER_01: Well, if you're paying one trillion dollars in interest payments alone, then how do you ever expect to start putting that to start putting money towards the debt?
• 14:09
  SPEAKER_01: Well, the only way that I can see, and and I'm looking at this from a very humble, limited perspective, as you know, a taxpayer in this country who's trying to look out for his own financial portfolio for him and his family, um you're going to have to spend a lot less money as a nation.
• 14:32
  SPEAKER_01: As a nation, as a government, state, local, federal, all the way down to little old you and me.
• 14:39
  SPEAKER_01: We're gonna have to stop spending money recklessly.
• 14:44
  SPEAKER_01: Now, does that work if Americans stop spending money recklessly and the government doesn't?
• 14:52
  SPEAKER_01: No, that's the whole point.
• 14:55
  SPEAKER_01: But we can do it as a country and we can force it as a voting taxpayer, but to get the world all on the same page to cut, I don't know, two to five trillion dollars out of our spending and throw that towards the debt, I don't know, I don't see how you how you pay it down.
• 15:18
  SPEAKER_01: Now, President Trump, to his credit, and there's a lot of criticism out there about him today, and I understand why, and sometimes maybe rightfully so, especially with what he says and his and and the words that he chooses to use and the fights that he chooses to pick.
• 15:33
  SPEAKER_01: But when it comes to his policy, no other president has brought in, especially in the time frame that he has brought it in, anywhere from 11 to 19 trillion dollars of investment into this country.
• 15:47
  SPEAKER_01: No other president has committed to build a refinery, the first one in 50 years.
• 15:55
  SPEAKER_01: No other president has forced through tariffs, the way he has, countries to invest and build and do their business here.
• 16:04
  SPEAKER_01: Ford just announced last week that they are now going to um build a uh their Lincoln and their navigator series here in America rather than China.
• 16:15
  SPEAKER_01: That's gonna create thousands and thousands of jobs.
• 16:19
  SPEAKER_01: But that's just one of many, many stories.
• 16:21
  SPEAKER_01: You've got companies like Eli Lilly, you've got companies like Honda, Hyundai, Toyota, you've got companies like Nvidia and Apple and Google all deciding to do their manufacturing here in the good old US of A.
• 16:36
  SPEAKER_01: So there are a lot of good things and good sides to the economy, but at the same time, I would much rather be safe than sorry.
• 16:46
  SPEAKER_01: Have and not need rather than need and not have.
• 16:51
  SPEAKER_01: So Bloomberg ran it, CNBC ran it, and it was the financial story of the week.
• 16:58
  SPEAKER_01: The 10 to 15% selling off the bonds and investing it into gold.
• 17:04
  SPEAKER_01: Now, remember last week we told you that Senator Rand Paul actually visited Fort Knox, and he said all the gold is accounted for.
• 17:12
  SPEAKER_01: Now, take him at his word, but if that's the truth, that's a good thing.
• 17:16
  SPEAKER_01: That's a great thing, actually.
• 17:20
  SPEAKER_01: Let's go through the math that he ran.
• 17:23
  SPEAKER_01: The U.S.
• 17:23
  SPEAKER_01: government collects about 5.5 trillion in revenue this year.
• 17:29
  SPEAKER_01: It spends 7.5 trillion.
• 17:35
  SPEAKER_01: That is$2 trillion of shortfall.
• 17:39
  SPEAKER_01: Debt service alone.
• 17:41
  SPEAKER_01: Like I said,$1 trillion.
• 17:43
  SPEAKER_01: And there is, uh here is the kicker to everything.
• 17:47
  SPEAKER_01: If the United States government were a private business, its total debt obligations would be roughly$11 trillion.
• 17:58
  SPEAKER_01: That is nearly 200% of what the business, in quotes, brings in.
• 18:05
  SPEAKER_01: Any business running those numbers would be bankrupt like that.
• 18:11
  SPEAKER_01: You know it, and I know it.
• 18:14
  SPEAKER_01: Now, it may sound like I'm preaching to the choir.
• 18:19
  SPEAKER_01: It may sound like I am saying, yeah, tell us something we don't know.
• 18:28
  SPEAKER_01: And you may say, okay, great.
• 18:30
  SPEAKER_01: How do we stop it?
• 18:34
  SPEAKER_01: That's the age-old question, is it?
• 18:36
  SPEAKER_01: How how do you rein in a pork-bellied piglet of a government who just wants to eat more and does not listen to anything you say?
• 18:52
  SPEAKER_01: The only way to do that is to continue to vote people in who are not looking for their best interest.
• 18:59
  SPEAKER_01: And that's hard too, because when you vote somebody in, they may not be looking in for their own best interest when they get voted in, and then they get to a little place called DC, and then they become part of the problem.
• 19:11
  SPEAKER_01: It's a very, very rough, rock and a hard place that the American people find themselves in.
• 19:20
  SPEAKER_01: And I will say this if there was a president who was in the executive spot, the executive position to do so, to limit the size of government, he would have to fire a massive portion of the U.S.
• 19:35
  SPEAKER_01: government to do so in order to try to get spending under control somehow.
• 19:42
  SPEAKER_01: Now I will be happy to report this.
• 19:46
  SPEAKER_01: This administration, the Trump administration, for better or worse, they have reduced the federal government size in between 20 and 30 percent.
• 19:59
  SPEAKER_01: And they were taken to court many, many times about those firings.
• 20:05
  SPEAKER_01: And every single time the administration ended up winning those court cases because the executive, according to the Supreme Court, has the right to fire.
• 20:13
  SPEAKER_01: So it's gonna be a very difficult thing, but it's a good start.
• 20:19
  SPEAKER_01: So what triggered all of this?
• 20:21
  SPEAKER_01: Well, we talked about Scott Besson, Scott Besson's bond buyback announcement.
• 20:26
  SPEAKER_01: That's what changed everything.
• 20:27
  SPEAKER_01: Dalio said that the Treasury, of which Scott Bessant is the secretary of, buying back its own long-dated debt is exactly the pattern that shows a debt crisis is or maybe approaching, not receding.
• 20:45
  SPEAKER_01: Japan, America's largest foreign creditor, simultaneously said U.S.
• 20:52
  SPEAKER_01: uh sold, excuse me, U.S.
• 20:53
  SPEAKER_01: bonds this week.
• 20:56
  SPEAKER_01: So you have our largest foreign creditor selling off U.S.
• 21:02
  SPEAKER_01: bonds at the same time that our own government is buying back those bonds.
• 21:13
  SPEAKER_01: Again, these are not coincidences.
• 21:16
  SPEAKER_01: Ten to fifteen percent in gold.
• 21:20
  SPEAKER_01: Not a vague hedge, a very, very specific allocation with very specific numbers.
• 21:30
  SPEAKER_01: Two investors, Dalio and vaulted CEO David McIntyre, ran the debt math independently and both landed on the same number.
• 21:43
  SPEAKER_01: 15% gold.
• 21:44
  SPEAKER_01: Two separate investors, not in the same room copying off each other's tests.
• 21:50
  SPEAKER_01: They both said the same thing.
• 21:53
  SPEAKER_01: GoldSilver.com published the comparison.
• 21:58
  SPEAKER_01: The math leads to the same experience.
• 22:00
  SPEAKER_01: Answer regardless of who does it.
• 22:03
  SPEAKER_01: If these people know what they're talking about.
• 22:06
  SPEAKER_01: So you got to ask yourself you're looking at that 401k right now and you're probably smiling and drooling, right?
• 22:13
  SPEAKER_01: You're probably very happy with where your 401k looks right now because you're talking anywhere from a 30 to an 80% increase with this administration.
• 22:28
  SPEAKER_01: Correct?
• 22:30
  SPEAKER_01: You can fact check me on that one and go look at your 401 and compare it to what it looked like three years ago.
• 22:37
  SPEAKER_01: And you're looking at that 401k and you're like, wow, boy, I don't want to see the same repeat of what just happened three years ago, four years ago with my 401k.
• 22:46
  SPEAKER_01: So I'm gonna take 15% of it and I'm gonna go buy some gold right now.
• 22:51
  SPEAKER_01: And then I'm gonna take another 5%, 10%, and I'm gonna go buy some silver.
• 22:54
  SPEAKER_01: Why?
• 22:55
  SPEAKER_01: Because why not?
• 22:58
  SPEAKER_01: That's the question you should be asking yourself.
• 23:00
  SPEAKER_01: Why wouldn't I?
• 23:02
  SPEAKER_01: And when we get to the gold and silver numbers, you're gonna you're probably gonna end up pulling that trigger and reaching out to Golden Crest Medals today.
• 23:13
  SPEAKER_01: Three years, give or take two.
• 23:15
  SPEAKER_01: That means somewhere between 2027 and 2031, remember I said one to five years, Social Security hits insolvency around 2032.
• 23:26
  SPEAKER_01: Now my mother is on Social Security, I'm not yet.
• 23:29
  SPEAKER_01: Getting there though.
• 23:31
  SPEAKER_01: Faster every day, am I right?
• 23:33
  SPEAKER_01: My mother's on Social Security, and she's already seen a reduction in how much she gets a month from when she started three years ago.
• 23:44
  SPEAKER_01: The CBO projects debt service doubles to$2 trillion by 2036.
• 23:49
  SPEAKER_01: That means the interest on our debt by 2036, 10 years from now, predicted to be double what it is right now.
• 24:00
  SPEAKER_01: The timelines are converging, folks.
• 24:02
  SPEAKER_01: The window to act is before the crisis, not during it.
• 24:10
  SPEAKER_01: Now what he said about the bonds was underweight them.
• 24:16
  SPEAKER_01: The 30-year Treasury just hit a 19-year high yield.
• 24:22
  SPEAKER_01: Japan is selling them, the Fed has lost credibility on inflation.
• 24:26
  SPEAKER_01: Bond yields going up means bond prices going down.
• 24:30
  SPEAKER_01: Anyone holding long bonds is already losing money in real terms.
• 24:38
  SPEAKER_01: If you have long bonds and you're listening right now, you're probably aware of what I'm talking about.
• 24:44
  SPEAKER_01: If you don't, trust that the information is true and validated.
• 25:12
  SPEAKER_01: What do you think that's going to do to that almighty green piece of paper?
• 25:19
  SPEAKER_01: If a regular American ran their household that way, if you or I ran our household that way, the bank would have taken our homes long ago.
• 25:31
  SPEAKER_01: The only difference is the government can say, hey, fire up those machines.
• 25:37
  SPEAKER_01: Let's print some more.
• 25:38
  SPEAKER_01: We can cover it, don't worry.
• 25:41
  SPEAKER_01: Which is exactly why you own gold.
• 25:46
  SPEAKER_01: Folks, okay?
• 25:50
  SPEAKER_01: Before we get to our next segment, for those that might be just tuning in, thank you for tuning in.
• 25:56
  SPEAKER_01: My name is Jeremy Harrell, representing Golden Crest Medals.
• 26:03
  SPEAKER_01: And why Golden Crest Medals, you might ask.
• 26:06
  SPEAKER_01: Well, let me tell you why.
• 26:10
  SPEAKER_01: This is the Golden Crest Advantage, free insured shipping, free account setup, and up to 10 years of free IRA storage at the Delaware depository on qualifying purchases.
• 26:23
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• 26:30
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• 26:40
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• 26:43
  SPEAKER_01: Zero buyback fees, that's a big one.
• 26:46
  SPEAKER_01: And no surprise markups, another big one.
• 26:50
  SPEAKER_01: What you are quoted is what you pay.
• 26:54
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• 26:58
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• 27:04
  SPEAKER_01: Nope.
• 27:04
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• 27:10
  SPEAKER_01: And you'll get that explained to you when you call 888-991-6222.
• 27:16
  SPEAKER_01: That's 888-991-6222.
• 27:21
  SPEAKER_01: Also, founder-led service.
• 27:24
  SPEAKER_01: Every client receives a personal follow-up.
• 27:27
  SPEAKER_01: A phone call, personal follow-up.
• 27:30
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• 27:33
  SPEAKER_01: No call centers, no high pressure, ever.
• 27:38
  SPEAKER_01: And let me tell you, to those who are listening to me today, I personally know Rich Jacoby, and he's one of the greatest men that I've had the pleasure of knowing.
• 27:50
  SPEAKER_01: So for you investing with and partnering with Golden Crest Medals, just know that.
• 27:56
  SPEAKER_01: Now the Jackson Hole is Friday.
• 28:01
  SPEAKER_01: Warsh's first speech, like I said in the beginning, could move every asset that you own.
• 28:09
  SPEAKER_01: So you better go to myfregoldinfo.com today.
• 28:13
  SPEAKER_01: That's myfreegoldinfo.com today.
• 28:16
  SPEAKER_01: Fed Chair Kevin Warsh gives his first Jackson Hole keynote Friday, August 28th at 10 a.m.
• 28:24
  SPEAKER_01: Eastern Time.
• 28:25
  SPEAKER_01: Now we will be covering this on my news show as well.
• 28:28
  SPEAKER_01: And for all those out there who are soaking in the political news from See the Shining Sea every day of the week, then you can look us up at LFATV.us for that information.
• 28:42
  SPEAKER_01: But we'll also have that information next week right here on the Crest Report, so keep it locked.
• 28:48
  SPEAKER_01: Every major Fed chair has used this speech to signal major policy shifts, everyone.
• 28:53
  SPEAKER_01: Paul Volcker used it to announce the end of the inflation era.
• 28:58
  SPEAKER_01: Ben Bernanke used it to preview QE.
• 29:02
  SPEAKER_01: Jerome Powell used it to telegraph the 2022 rate hike cycle.
• 29:06
  SPEAKER_01: This is the most watched economic speech of the year.
• 29:11
  SPEAKER_01: Why this one is so uniquely important is that every previous Fed chair came to Jackson Hole with an established track record that markets could read.
• 29:20
  SPEAKER_01: Warsh has given two press conferences and said almost nothing concrete.
• 29:25
  SPEAKER_01: This is going to be a big one because we're expecting him to spill the beans.
• 29:31
  SPEAKER_01: Bloomberg called his communication strategy, quote, off to a rocky start, unquote.
• 29:37
  SPEAKER_01: Goldman Sachs warned his quote, opaque style, unquote, could amplify volatility significantly.
• 29:45
  SPEAKER_01: Nobody knows what he's going to say, and that unknown itself is a risk.
• 29:52
  SPEAKER_01: And you're going to see something move big time, one way or the other, that's for sure.
• 29:57
  SPEAKER_01: Financial innovation implications for payments and policy.
• 30:02
  SPEAKER_01: Translations for all of you are they are going to talk about the CBDC, the central bank digital currency, stable coins, digital dollars, and real-time payment systems.
• 30:16
  SPEAKER_01: That is the financial surveillance architecture getting an academic airing of the Fed's most prestigious event.
• 30:25
  SPEAKER_01: Three scenarios here we're looking at.
• 30:27
  SPEAKER_01: Hawkish, worse signals September hike.
• 30:31
  SPEAKER_01: Dollar surges, gold dips, short term, stocks sell off.
• 30:38
  SPEAKER_01: Dove or dovish, which is, you know, just a little under the hawkish, dovish, or dovish, some might say.
• 30:49
  SPEAKER_01: Worse signals hold continues.
• 30:51
  SPEAKER_01: Gold surges.
• 30:52
  SPEAKER_01: Dollar weakens.
• 30:54
  SPEAKER_01: Stocks rally.
• 30:55
  SPEAKER_01: Neutral.
• 30:56
  SPEAKER_01: Warse says nothing useful.
• 30:58
  SPEAKER_01: Volatility spikes as markets try to read nothing into something because they will.
• 31:04
  SPEAKER_01: Two of those three scenarios are good for gold.
• 31:07
  SPEAKER_01: So you've got a good advantage here, folks.
• 31:09
  SPEAKER_01: If that is you, you've got a good advantage here.
• 31:15
  SPEAKER_01: Gold currently, 4640 to 4,700.
• 31:21
  SPEAKER_01: That's beautiful, guys.
• 31:23
  SPEAKER_01: Boy, if you are a gold owner, you are a happy camper today.
• 31:27
  SPEAKER_01: Gold has reclaimed 4,700 on the futures market heading into the speech.
• 31:33
  SPEAKER_01: The support zone is 4,615 to 4,623.
• 31:40
  SPEAKER_01: A dovish or neutral Warsh clears the path to 4,730.
• 31:47
  SPEAKER_01: The 50-day moving average.
• 31:51
  SPEAKER_01: And then on to 5,000 again, folks.
• 31:53
  SPEAKER_01: Boy, wouldn't it be nice to break that 5,000?
• 31:55
  SPEAKER_01: A Hawkish surprise would push gold to support, but does not break the structural trend.
• 32:04
  SPEAKER_01: Now, what Warsh actually said, he is, quote, not constrained by market price.
• 32:10
  SPEAKER_01: Remember when he said that?
• 32:11
  SPEAKER_01: We talked about that last week.
• 32:13
  SPEAKER_01: The Fed will act independently, regardless of what markets expect.
• 32:18
  SPEAKER_01: He dropped forward guidance entirely.
• 32:22
  SPEAKER_01: He said the speech would address, quote, big questions, unquote, not near-term guidance.
• 32:28
  SPEAKER_01: He may say almost nothing actionable, and that vacuum will be filled by market interpretation and feeling.
• 32:39
  SPEAKER_01: By the time this show airs, worse will have spoken if it was a hawkish, gold-faced short-term pressure.
• 32:50
  SPEAKER_01: But the Dalio debt crisis, the$40 trillion debt that we spoke of, and the structural case are unchanged.
• 33:00
  SPEAKER_01: That doesn't change just with some press conference.
• 33:04
  SPEAKER_01: Okay.
• 33:08
  SPEAKER_01: So, if it was dovish, gold is probably around$4,730 plus.
• 33:16
  SPEAKER_01: And the case for action is urgent.
• 33:18
  SPEAKER_01: Either outcome is definitely reason on your behalf to act.
• 33:24
  SPEAKER_01: Now let's get to the next segment here.
• 33:26
  SPEAKER_01: Economic D-Day versus Iran.
• 33:28
  SPEAKER_01: The sanctions maxed out, so now what?
• 33:31
  SPEAKER_01: Here's where the war stands.
• 33:32
  SPEAKER_01: As of right now, day 179.
• 33:36
  SPEAKER_01: The United States launched what Bessent called, quote, the greatest financial offensive ever marshaled against an adversary, unquote.
• 33:45
  SPEAKER_01: That's pretty big words.
• 33:49
  SPEAKER_01: That's pretty big words.
• 33:52
  SPEAKER_01: Pretty tough statement.
• 33:54
  SPEAKER_01: Iran's currency hit record lows.
• 33:57
  SPEAKER_01: The Royal now takes over two million to buy one dollar.
• 34:01
  SPEAKER_01: And yet Iran is still in the war.
• 34:04
  SPEAKER_01: Still not at the table.
• 34:08
  SPEAKER_01: And to some extent, still controlling the strait narrative, but the narrative isn't really correct because we've just seen a 400% uptick in the oil that is passing through the strait.
• 34:23
  SPEAKER_01: Iran's elected president said publicly this week that Tehran, quote, cannot continue with war forever.
• 34:29
  SPEAKER_01: So that is what is driving things.
• 34:34
  SPEAKER_01: And called for an end to the conflict, of course, because it's starting to weigh on them.
• 34:38
  SPEAKER_01: Like I said, a foot on that economic neck.
• 34:42
  SPEAKER_01: He specifically mentioned that Iran is, quote, while ahead, meaning Iran believes it's winning, they still can't do this forever.
• 34:54
  SPEAKER_01: That tells you something about where they think negotiating position sits.
• 34:58
  SPEAKER_01: Iran and Oman held talks again this week on managing the Strait of Hormuz.
• 35:05
  SPEAKER_01: The Britannica Live blog noted, quote, falling oil prices help calm markets, suggesting the talks produced enough optimism to push oil down temporarily.
• 35:16
  SPEAKER_01: Brent fell on the news, which did help gold.
• 35:20
  SPEAKER_01: CNN called Besson's economic D Day a quote, huge gamble, unquote, their analysis.
• 35:26
  SPEAKER_01: The time required to break Iran economically may not fit Trump's political timeline, they said.
• 35:31
  SPEAKER_01: The midterms are coming.
• 35:32
  SPEAKER_01: Iran knows this.
• 35:33
  SPEAKER_01: Iran also knows that every week a$4 plus gas is a Republican voter getting angrier.
• 35:38
  SPEAKER_01: That is Iran's leverage.
• 35:40
  SPEAKER_01: However, if you dive deep into the gas and oil and energy issues that we're having, you'll understand that the Iran war only drove up the price really about 30 to 50 cents.
• 35:53
  SPEAKER_01: The biggest problem is a lack of refineries.
• 35:57
  SPEAKER_01: And how many refineries globally are shutting down because billionaire investors are not paying and investing in them to be upgraded to where they need to be.
• 36:05
  SPEAKER_01: Refineries right now are operating at 97% with no buffer, with no relaxation time.
• 36:13
  SPEAKER_01: And they are raking in the profits.
• 36:16
  SPEAKER_01: ExxonMobil and Chevron, both showing record high earnings, Q2 of 2026.
• 36:24
  SPEAKER_01: ExxonMobil is double over 2025 Q2 earnings, and Chevron is quadruple over their Q2 2025 earnings.
• 36:34
  SPEAKER_01: So price gouging is happening, and it's not only happening with the gas and oil industry, it's also happening with the refineries.
• 36:42
  SPEAKER_01: They're price gouging because they're working so damn hard.
• 36:45
  SPEAKER_01: It is really just a perfect storm of things that are happening.
• 36:50
  SPEAKER_01: Okay?
• 36:52
  SPEAKER_01: Now, Iran's parliament is still advancing legislation to charge ships a fee to transit the detention or confiscation.
• 37:01
  SPEAKER_01: This is not going away even if a ceasefire is reached.
• 37:06
  SPEAKER_01: Here's the gas price reality.
• 37:09
  SPEAKER_01: Gas is$4 plus nationally.
• 37:11
  SPEAKER_01: Oil is still elevated.
• 37:12
  SPEAKER_01: The strait is still not quite at pre-war capacity, and the economic D-Day sanctions are meant to end by increasing economic pain on Iran.
• 37:24
  SPEAKER_01: Whether they work before the midterms is the central question of the next eight to ten weeks.
• 37:31
  SPEAKER_01: This war started in February.
• 37:33
  SPEAKER_01: We are now at day 179.
• 37:36
  SPEAKER_01: Every person is filling up gas tank, every person filling up the gas tank is paying for it and complaining about it.
• 37:43
  SPEAKER_01: Every retiree watching inflation eat their fixed income is paying for it and complaining about it.
• 37:50
  SPEAKER_01: Physical gold has been one of the best performing assets through all 179 days of this war.
• 38:03
  SPEAKER_01: The uncertainty that created that performance is still not resolved, and gold is still doing amazing.
• 38:11
  SPEAKER_01: Now, before we get into the price of gold and silver and why, text the word report to medals right now.
• 38:17
  SPEAKER_01: R-E-P-O-R-T, report to metals, or report to 638-257.
• 38:22
  SPEAKER_01: Start a conversation today.
• 38:25
  SPEAKER_01: Get connected today here at Golden Crest Metals with one of our team members.
• 38:29
  SPEAKER_01: Myfreegoldinfo.com.
• 38:32
  SPEAKER_01: That's myfreegoldinfo.com.
• 38:34
  SPEAKER_01: Learn how you can get a free portfolio review, a free investor kit, and like I said, up to$25,000 in free silver.
• 38:43
  SPEAKER_01: 888-991-6222.
• 38:49
  SPEAKER_01: Gold.
• 38:51
  SPEAKER_01: Do you know what it's up year over year?
• 38:54
  SPEAKER_01: 40%.
• 38:55
  SPEAKER_01: Well, just shy.
• 38:56
  SPEAKER_01: 39.
• 38:58
  SPEAKER_01: 39% year over year.
• 39:01
  SPEAKER_01: And the 30-day return has now beaten stock markets eight to one.
• 39:12
  SPEAKER_01: Hello, McFly.
• 39:16
  SPEAKER_01: What are we waiting for here?
• 39:18
  SPEAKER_01: A 39% increase year over year?
• 39:22
  SPEAKER_01: Spot gold around 46.40 right now.
• 39:27
  SPEAKER_01: Futures touching 4,700.
• 39:29
  SPEAKER_01: Three-month high.
• 39:31
  SPEAKER_01: War still going on.
• 39:34
  SPEAKER_01: Support between 4615 and 46.23.
• 39:37
  SPEAKER_01: Up 39% compared to one year ago today.
• 39:42
  SPEAKER_01: The debasement trade triggered by Besson's Treasury buyback is fully in motion.
• 39:50
  SPEAKER_01: Here's the 30-day scorecard.
• 39:52
  SPEAKER_01: Ready for this?
• 39:53
  SPEAKER_01: Gold up 13.89%.
• 39:57
  SPEAKER_01: Silver up 17.55%.
• 40:00
  SPEAKER_01: The SP 500 is up only 1.7%, folks.
• 40:04
  SPEAKER_01: You're talking 14 to 17.5% gold and silver and the SP only at 1.7%.
• 40:10
  SPEAKER_01: NASDAQ is at 0.89%.
• 40:13
  SPEAKER_01: Gold beat the stock market 8 to 1 in the last 30 days during this war.
• 40:20
  SPEAKER_01: This isn't normal outperformance.
• 40:24
  SPEAKER_01: This is a structural shift that is being priced in real time.
• 40:32
  SPEAKER_01: Going back to that 10 to 15% in gold number we talked about, Dalio ran the math on U.S.
• 40:38
  SPEAKER_01: government finances,$11 trillion in debt obligations against$5.5 trillion in revenue and landed on 15% gold.
• 40:46
  SPEAKER_01: Two investors did this independently, got the same answer to recap.
• 40:50
  SPEAKER_01: Most Americans have 0% of their retirement in gold.
• 40:54
  SPEAKER_01: Zero.
• 40:58
  SPEAKER_01: That gap that we're talking about, that's the story.
• 41:00
  SPEAKER_01: That's the headline.
• 41:03
  SPEAKER_01: Absolutely.
• 41:06
  SPEAKER_01: Gold overtook U.S.
• 41:08
  SPEAKER_01: Treasuries as the world's top reserve asset.
• 41:10
  SPEAKER_01: Yahoo Finance confirmed this.
• 41:12
  SPEAKER_01: Ready?
• 41:12
  SPEAKER_01: Gold has officially become the largest reserve asset held by central banks globally.
• 41:19
  SPEAKER_01: Gold overtaking U.S.
• 41:21
  SPEAKER_01: Treasuries for the first time.
• 41:25
  SPEAKER_01: The world's central banks made this decision with real money.
• 41:31
  SPEAKER_01: Not their opinions, not their feelings, not predictions, actual reserve allocation.
• 41:38
  SPEAKER_01: That is huge.
• 41:42
  SPEAKER_01: That's huge.
• 41:45
  SPEAKER_01: JP Morgan, let's get to our targets.
• 41:47
  SPEAKER_01: These are important.
• 41:48
  SPEAKER_01: JP Morgan still says 6,000 by end of Q4.
• 41:52
  SPEAKER_01: Imagine if these all these financial experts, and I'm putting that quote, saying it loosely, but imagine if all of them are correct.
• 42:01
  SPEAKER_01: Imagine if they turn out to be right.
• 42:05
  SPEAKER_01: And then you look at the ratio, where would silver be?
• 42:08
  SPEAKER_01: JP Morgan says 6,000 by end of Q4.
• 42:11
  SPEAKER_01: Goldman Sachs 5,400.
• 42:13
  SPEAKER_01: Wells Fargo takes it to 6,300.
• 42:16
  SPEAKER_01: That's from 4650 today.
• 42:19
  SPEAKER_01: What a jump.
• 42:20
  SPEAKER_01: JP Morgan Q4 target implies a 29% upside.
• 42:24
  SPEAKER_01: If Dalio is right that the debt crisis arrives in three years, these bank targets may look conservative by the time this is all over.
• 42:33
  SPEAKER_01: Yikes.
• 42:48
  SPEAKER_01: And gold is looking 39% year over year through a war and through the roof.
• 42:56
  SPEAKER_01: Like I said, if gold could burn, which if you get it hot enough, it can.
• 43:03
  SPEAKER_01: The roof, the roof, the roof is on fire.
• 43:10
  SPEAKER_01: Let's get to silver.
• 43:13
  SPEAKER_01: Silver near$69 right now.
• 43:16
  SPEAKER_01: It's going to push over$70 very quick.
• 43:19
  SPEAKER_01: You know how much that's up year over year?
• 43:21
  SPEAKER_01: $81%.
• 43:23
  SPEAKER_01: Are you kidding me?
• 43:25
  SPEAKER_01: $69 an ounce, essentially flat on the week as gold leads the headlines?
• 43:31
  SPEAKER_01: An 81% year over year increase from around$38, still holding near the$70 breakout level that analysis says triggers the next leg.
• 43:44
  SPEAKER_01: Gold is getting the Dalio driven basement headlines.
• 43:47
  SPEAKER_01: Silver tends to lag gold slightly in the monetary trade and then catch up fast.
• 43:53
  SPEAKER_01: This consolidation near$69 is historically the pattern before a big breakout.
• 44:00
  SPEAKER_01: Like I said, the$70 the um region, that's the trigger.
• 44:10
  SPEAKER_01: So, Dalio said 10 to 15% gold, but he didn't mention silver.
• 44:14
  SPEAKER_01: I wonder why.
• 44:15
  SPEAKER_01: Here's what the math does.
• 44:17
  SPEAKER_01: If institutional investors follow Dalio and they rotate the 15% into precious metals, some of that rotation flows into silver by default, which has a smaller market and moves more dramatically on the same dollar of demand.
• 44:30
  SPEAKER_01: But remember, silver's twofold.
• 44:32
  SPEAKER_01: It's not just a monetary and financial outlook.
• 44:34
  SPEAKER_01: It's also got a uh, you know, a device and a structural necessity as well.
• 44:39
  SPEAKER_01: We're talking solar EVs, semiconductors, medical devices, all of that stuff.
• 44:44
  SPEAKER_01: The hospital, uh the healthcare industry is booming, and they need equipment.
• 44:49
  SPEAKER_01: And guess what you need for that?
• 44:51
  SPEAKER_01: China imported 62% more silver year over year in June.
• 44:56
  SPEAKER_01: Why?
• 44:57
  SPEAKER_01: The IEA confirmed record solar capacity additions in 2026.
• 45:02
  SPEAKER_01: Remember, I told you how billionaire billionaire uh investors are pulling away from um upgrading or building any new refineries?
• 45:10
  SPEAKER_01: Their biggest reason why?
• 45:12
  SPEAKER_01: They think it's an outdated um industry and they're moving towards electric and tech innovation.
• 45:21
  SPEAKER_01: That's a big reason right there.
• 45:25
  SPEAKER_01: None of that changed because the Dalio story broke.
• 45:27
  SPEAKER_01: The industrial demand floor is structural.
• 45:32
  SPEAKER_01: We are also in that sixth consecutive year.
• 45:35
  SPEAKER_01: 46 million ounce shortfall in 2026 for silver.
• 45:41
  SPEAKER_01: Mine supply growing at 0.3%.
• 45:43
  SPEAKER_01: No debt ceiling deal or Jackson Hole speech closes a supply deficit.
• 45:48
  SPEAKER_01: The physical scarcity is real and it's ongoing while I'm speaking to you right now.
• 45:53
  SPEAKER_01: Let's get to that ratio we talked about.
• 45:54
  SPEAKER_01: Ready for this?
• 45:55
  SPEAKER_01: Here we go.
• 45:56
  SPEAKER_01: Gold and silver ratio 67 to 1.
• 46:00
  SPEAKER_01: At JP Morgan's 6,000 hold target, that ratio implies that silver would be about$120.
• 46:08
  SPEAKER_01: Amazing.
• 46:09
  SPEAKER_01: Absolutely amazing.
• 46:11
  SPEAKER_01: And the last but not least part of this is your 401k, folks.
• 46:16
  SPEAKER_01: Your 401k is a tax trap as well.
• 46:20
  SPEAKER_01: It might look good today, but you've got to keep an eye on that and you've got to take some autonomy over that.
• 46:28
  SPEAKER_01: And the best way to do that is by texting the word report to medals, calling 888-991-6222, or going to myfregoldinfo.com today.
• 46:39
  SPEAKER_01: That's myfreegoldinfo.com.
• 46:41
  SPEAKER_01: 888-991-6222.
• 46:43
  SPEAKER_01: Text the word report to metals today.
• 46:45
  SPEAKER_01: And that is 638-257.
• 46:46
  SPEAKER_01: That's going to do it for all of us.
• 46:48
  SPEAKER_01: Here from Golden Crest Metals, thank you.
• 46:51
  SPEAKER_01: Happy to have you here, and we cannot wait to see you next week.
• 46:54
  SPEAKER_01: Go invest and call today.
• 46:56
  SPEAKER_01: Have a great week, everybody.
• 46:58
  SPEAKER_01: See you later.
• 46:59
  SPEAKER_00: You've been listening to the Crest Report, where markets meet reality, brought to you by Golden Crest Medals.
• 47:05
  SPEAKER_00: For your free portfolio review and free no obligation investor kit, plus up to$25,000 in free silver with qualified purchases.
• 47:14
  SPEAKER_00: Text the word report to M E T I L S.
• 47:17
  SPEAKER_00: That's report to 638-257.
• 47:21
  SPEAKER_00: Or call 888-991-6222.
• 47:25
  SPEAKER_00: Or visit Goldencrestmetals.com.
• 47:28
  SPEAKER_00: See you next week.