Latest / The Crest Report / $18.8 Trillion in Debt, a Rogue AI, and Why Gold Is the One Thing They Can't Track

Transcript

$18.8 Trillion in Debt, a Rogue AI, and Why Gold Is the One Thing They Can't Track · The Crest Report

0:08
SPEAKER_01: From Golden Crest Metals, this is the Crest Report, where markets meet reality.
0:14
SPEAKER_01: Your weekly briefing on the economy, gold, silver, and protecting what you've built.
0:19
SPEAKER_01: And now, here's your host, Jeremy Harrell.
0:23
SPEAKER_00: Well, good afternoon, everybody, and thank you all so very much for joining in with us today here on the Crest Report.
0:30
SPEAKER_00: My name is Jeremy Harrell, and boy, do we got some information for you today as it pertains two precious metals that's gold, silver, palladium, and platinum.
0:43
SPEAKER_00: Why the prices are where they are, what happened over the last week that caused these prices to be where they are and where we foresee it going in the near future.
0:53
SPEAKER_00: One thing is for sure, now is a buying time for gold and silver.
0:59
SPEAKER_00: Again, you are right here on the crest report.
1:02
SPEAKER_00: And my name is Jeremy Harrell.
1:04
SPEAKER_00: And on behalf of everybody here at Golden Crest Metals, Rich Jacoby and the entire team, we welcome you to the show today.
1:12
SPEAKER_00: And uh look, we're just gonna get right started here.
1:15
SPEAKER_00: Uh, the best thing that I like to do is I like to go through an overview of the information that we're gonna talk about today, uh, just to kind of give you an idea of where we're going, the route we're taking uh with this show here today.
1:26
SPEAKER_00: And we're, you know, there's really not been a lot of a change since uh last week in the way of price.
1:31
SPEAKER_00: So in the way of pricing, there's not been an you know a big change.
1:34
SPEAKER_00: But in the way of uh, you know, news and uh geopolitical news, and obviously the conflict in Iran a lot has changed, and we have to keep an eye on that so that we can, you know, give you the best information and uh kind of educate you on why things are the way they are and where they're going, okay?
1:51
SPEAKER_00: So as we do every week, we're gonna go through some some group stages here, and we're gonna kind of set the tone for the entire pricing of precious metals and where we're gonna start, obviously, the Iranian war, the Iranian conflict.
2:04
SPEAKER_00: Uh, there's a lot going on in you know, in the way of that.
2:07
SPEAKER_00: Obviously, the the prime minister of Israel, uh Bibi Netanyahu, visited the country this week and and had talks with President Donald J.
2:14
SPEAKER_00: Trump.
2:15
SPEAKER_00: And uh, you know, and and the war is looks like it's kind of paused again.
2:19
SPEAKER_00: We're gonna go through uh all of that and what that means for you and how that affects us moving forward with everything, with gas prices and everything.
2:27
SPEAKER_00: The uh group two, stage two of this show, segment two, I should say, uh, we're going to talk about the Fed because the Fed is supposed to uh to meet uh this week, and uh nobody knows what's really gonna happen.
2:39
SPEAKER_00: Nobody knows if if rates are gonna go up, nobody knows if rates are gonna stay the same, nobody knows if they're gonna go down.
2:45
SPEAKER_00: Uh, and what Warsh is going to do.
2:48
SPEAKER_00: We're gonna give you some some information surrounding that.
2:51
SPEAKER_00: The third segment of today, we're gonna take you through the$18.8 trillion in debt with the housing market here in the United States and and how that kind of uh uh I mean household debt, excuse me, not housing market, the household debt.
3:06
SPEAKER_00: The the household debt, 18.8 trillion.
3:09
SPEAKER_00: And that's gonna have a lot of implications as well.
3:12
SPEAKER_00: Now, the country's debt, we're you know, we're obviously approaching 40 trillion.
3:16
SPEAKER_00: So, you know, at some point, this is not sustainable.
3:19
SPEAKER_00: Now, I'm not gonna be a doom and gloom person and sit here and tell you that the United States of America is about to go under because the United States of America is such a unique capitalist, you know, society and the way we run things here and and and how things work from sea to shining sea with our uh financial markets and our stock market and the financial hub being in New York City, the size of the military, you know, everything that we have our hands in, the the fact that we are the leaders of the free world, and you know, everybody else doesn't have their military here on the United States soil.
3:48
SPEAKER_00: We have our military everywhere else.
3:50
SPEAKER_00: So just to say that we're a nation that's 40 trillion in debt, and even though we are the largest nation in the world militarily and economically, it it doesn't spell immediate doom and gloom.
4:02
SPEAKER_00: But what it does do is it sets the it gives you the information that you need to understand how that's gonna affect little old you, just me and you in our in in our homes, in whatever state that we reside in, and what we should be doing for our individual well, for our families, ourselves and our families, uh, as it relates to our retirement.
4:22
SPEAKER_00: Because a nation and$40 trillion in debt, I don't care how big the economy is, somewhere along the lines, that's going to really start hampering a lot of people and their decision making about future purchases and and and whatnot.
4:33
SPEAKER_00: The uh segment four today, obviously, we're going to be diving deep into gold itself, the the price of gold, the uh the reason why we're seeing the the price kind of stay where it is.
4:47
SPEAKER_00: And are we really expected to go from the price that we are today to six, even seven, maybe bullish, eight thousand dollars an ounce within the next six months?
4:58
SPEAKER_00: Boy, that's hard to believe, but gold and silver have done stranger things.
5:03
SPEAKER_00: Obviously, we move into segment five.
5:05
SPEAKER_00: We're gonna switch and pivot from the gold talk to the silver talk and where silver is testing and where it is year over year.
5:13
SPEAKER_00: I think the one thing that we have to make sure, folks, for everybody who's watching, for everybody who's watching, I think we have to make sure that we understand that um gold and silver has never, ever, ever failed from in a five-year increment.
5:31
SPEAKER_00: Meaning, if you go five years back, five years before that, five years before that, I know we talk about that every week.
5:36
SPEAKER_00: It's never failed.
5:37
SPEAKER_00: It's always seen massive increases.
5:41
SPEAKER_00: And if you look over the course of the last 20 years, if that has any indication on where you think the next 20 years is gonna go, um, or even if it's even if it mirrors it 50%, then you know, we're gonna be in good shape.
5:55
SPEAKER_00: And I think another thing to understand too is that year over year, when you look at these increases in silver, gold, pladium, and platinum, when you look year over year, the increases are so large, you would have a hard time finding that kind of a uh an increase with any of your portfolio anywhere, whether it be real estate, whether it be stock market, whether it be digital currency, year over year increases with gold and silver are unbelievable.
6:22
SPEAKER_00: So we'll obviously touch on that.
6:25
SPEAKER_00: And then uh in the sixth segment of today's show, we're gonna be talking about open AI and the you know AI breaking out of its cage and what it's meaning.
6:35
SPEAKER_00: I'll I will tell you this.
6:36
SPEAKER_00: When we get there, I I've done some pretty significant research over the past, oh, I don't know, three or four months about AI.
6:45
SPEAKER_00: And one thing that I think stands out above everything else, above everything else, is how many jobs AI has taken already.
6:53
SPEAKER_00: And they're pretty good paying jobs, too.
6:55
SPEAKER_00: Some high-paying job, mostly, mostly medium to high-paying jobs, but you know, AI is never going to replace the the wrenches that need to be turned um in the you know, in the tech industry and in the uh the trade industry, I should say.
7:13
SPEAKER_00: Uh the trade industry is never gonna have AI replace it.
7:16
SPEAKER_00: AI is never gonna go out and be a plumber.
7:18
SPEAKER_00: AI is never gonna go out and unclog your toilet.
7:20
SPEAKER_00: AI is never gonna go out and unclog your drain or or you know, add a new bathroom to your house.
7:28
SPEAKER_00: AI is never gonna rewire your house and give you a new uh circuit breaker or electrical panel in your home.
7:34
SPEAKER_00: AI is never going to, you know, replace the physical brakes on your car.
7:39
SPEAKER_00: The trades are those businesses are not what AI has taken over.
7:44
SPEAKER_00: AI is assisting the trades in a massive way when it comes to scheduling and things like that, marketing, advertising, things like that.
7:52
SPEAKER_00: But then you get into those businesses, the the marketing, the advertising, the accounting, you know, those businesses, those have been traditionally pretty good, you know, medium to high-paying jobs in this country over the past 30, 40 years.
8:06
SPEAKER_00: But AI is definitely taking a lot of those jobs.
8:10
SPEAKER_00: So we'll talk about that.
8:11
SPEAKER_00: And then, of course, in the very last segment of today's show, uh, they are tracking every dollar you spend.
8:19
SPEAKER_00: And gold is the one thing they cannot touch or track.
8:23
SPEAKER_00: Who am I talking about?
8:25
SPEAKER_00: You're gonna have to stick around to the end of the show to find out.
8:28
SPEAKER_00: But as we get started here today on Golden Crest Metal's uh crest report, again, my name is Jeremy Harrell.
8:35
SPEAKER_00: And before we even get started, I want to tell you throughout the show, there are gonna be people standing by or sitting by.
8:42
SPEAKER_00: Don't hold it against them.
8:43
SPEAKER_00: They might be having a they might be having a break, but there will be people on standby.
8:48
SPEAKER_00: Maybe that's the best way to say it, on standby for your needs.
8:52
SPEAKER_00: So if you have questions at all during this show, if you have concerns at all during this show, if you have more uh if you want to know more information than what I can give you, if you want to get into, you know, what gold, silver, platinum, and platinum you should buy, what bullion should you buy, should you buy bars?
9:13
SPEAKER_00: Should you buy coins?
9:14
SPEAKER_00: If you want to buy coins, what coins do you want to buy?
9:17
SPEAKER_00: What's in the highest demand?
9:19
SPEAKER_00: What's been in the highest demand?
9:20
SPEAKER_00: All of those questions.
9:22
SPEAKER_00: There will be somebody on standby uh for you to talk to here at Golden Crest Metals.
9:28
SPEAKER_00: And the best way to do that is to just pick up your phone and call 888-991-6222.
9:38
SPEAKER_00: Now I'm going to repeat that a few times because look, I come from the old school where we memorized phone numbers.
9:45
SPEAKER_00: If I were to ask you right now, for all those that are listening that are my age or older, if you can remember phone numbers from you were when you were a kid, I'll bet you say, yep, I remember them.
9:54
SPEAKER_00: But if I asked you if you know your kids' phone numbers now, you probably wouldn't know them.
9:59
SPEAKER_00: So I'll repeat it a few times.
10:00
SPEAKER_00: 888-991-6222.
10:05
SPEAKER_00: That is 888-991-6222.
10:10
SPEAKER_00: You just pick up that phone, just like old school.
10:13
SPEAKER_00: Maybe you still have a rotary phone.
10:15
SPEAKER_00: Maybe you got a cord attached to it.
10:16
SPEAKER_00: Maybe it's a cell phone.
10:17
SPEAKER_00: Either way, the numbers are the same.
10:19
SPEAKER_00: Now you can also text the word report, like report card to metals.
10:25
SPEAKER_00: M-E-T-A-L-S.
10:27
SPEAKER_00: Text report to metals, and metals is just 638257.
10:33
SPEAKER_00: That's 638257.
10:36
SPEAKER_00: So text the word report to M-E-T-A-L-S or 638257.
10:44
SPEAKER_00: Those are the two best ways that you can get a hold of somebody immediately.
10:48
SPEAKER_00: Now you can also go to the website goldencrestmetals.com.
10:52
SPEAKER_00: Now we have an offer right now, and that offer is you get a free portfolio review.
10:58
SPEAKER_00: So somebody will analyze and review your portfolio with you absolutely for free.
11:02
SPEAKER_00: You'll get a free investor kit, and the investor kit is wonderful.
11:06
SPEAKER_00: Once you get that investor kit in the mail, you feel like you're uh you're in the next uh positive stage of diversifying your portfolio.
11:14
SPEAKER_00: I remember the first time I got mine with a purchase of$7,500 worth of uh silver at one point.
11:21
SPEAKER_00: So that was my very first time.
11:23
SPEAKER_00: You also, on top of the free portfolio uh portfolio review, on top of the free investor kit, there's also up to$25,000 in free silver with qualified purchases.
11:40
SPEAKER_00: Now, if you've got a qualify if you're a qualified person out there for that um for that bonus incentive, can you imagine what$25,000 worth of silver is going to be worth in 20 years?
11:55
SPEAKER_00: Oh, free portfolio review, free investor kit in up to$25,000 in free silver right now for qualified purchases.
12:04
SPEAKER_00: If you call$88-991-6222 or text report to M-E-T-A-L-S, which is 638-257.
12:13
SPEAKER_00: Let's get into it.
12:14
SPEAKER_00: Here we go.
12:16
SPEAKER_00: The war is paused again, but this time the stock market and gold both believe it.
12:25
SPEAKER_00: Let's get into it.
12:26
SPEAKER_00: The United States suspended its campaign of airstrikes against Iran late last week with an official announcement.
12:33
SPEAKER_00: Iran said it's halted its retaliatory strikes in response.
12:37
SPEAKER_00: Tehran is now in discussion with um Oman about the Strait of Hormuz.
12:44
SPEAKER_00: Oil dropped 6% in a single day on the news.
12:50
SPEAKER_00: Now, I don't know about you, but I also report, you know, political news and you know, geopolitical news as well every day of the week, five days a week.
12:59
SPEAKER_00: And um I can tell you, I just feel you get after reporting on this now since February 28th, I actually get the feeling that it's starting to finally come to an end.
13:11
SPEAKER_00: And there's a number of different things that I could get into.
13:13
SPEAKER_00: I don't have enough time here on the Crest Report to talk about that, but I just feel it.
13:17
SPEAKER_00: And again, this is coming from somebody who reports on this stuff every single day.
13:23
SPEAKER_00: Okay?
13:24
SPEAKER_00: Now, Iran did what it always does.
13:27
SPEAKER_00: It denied the media reports that it agreed to a 10-day ceasefire, yet the fighting stopped.
13:33
SPEAKER_00: And when the fighting stopped, oil dropped.
13:37
SPEAKER_00: This is the pattern.
13:38
SPEAKER_00: Both sides quietly stopped shooting while publicly denying that they blinked or balked or flinched.
13:47
SPEAKER_00: But the market is treating the pause as real and acting accordingly.
13:52
SPEAKER_00: And again, I don't think that you're gonna see a major, you know, influx of fighting again.
13:59
SPEAKER_00: Day 150 of the conflict.
14:02
SPEAKER_00: The war that started on February 28th is now in its 150th day, folks.
14:10
SPEAKER_00: Well, this week.
14:13
SPEAKER_00: It has seen the Hormuz Strait monitor describe it as a dual blockade.
14:19
SPEAKER_00: The United States Navy blockading Iran, and Iran blocking the world's oil supply.
14:26
SPEAKER_00: Now, both sides have now bombed bridges, desalination plants, and civilian infrastructure.
14:37
SPEAKER_00: And yes, U.S.
14:38
SPEAKER_00: soldiers have died.
14:41
SPEAKER_00: Now, as this conflict kind of came to a brief pause, the market responded and the market liked it.
14:48
SPEAKER_00: The Dow jumped.
14:49
SPEAKER_00: The SP jumped.
14:52
SPEAKER_00: The pause said jump and the market said how high?
14:57
SPEAKER_00: Oil dropped.
14:59
SPEAKER_00: Gold climbed back above$4,100.
15:03
SPEAKER_00: Silver surged towards$60 an ounce.
15:07
SPEAKER_00: The Peace Pause is doing exactly what every previous ceasefire did.
15:13
SPEAKER_00: It's triggering a relief rally.
15:15
SPEAKER_00: That's it, folks.
15:16
SPEAKER_00: And you'll see it the more this comes to a close, the more you'll see a relief rally.
15:22
SPEAKER_00: History says watch for the next escalation carefully and pray that it doesn't happen.
15:33
SPEAKER_00: Now, the straight is still not normal, obviously.
15:35
SPEAKER_00: We've talked about this last week.
15:37
SPEAKER_00: Before the war, there was 110 ships a day.
15:39
SPEAKER_00: Now, even with the pause, shipping companies are moving cautiously.
15:43
SPEAKER_00: War risk insurance premiums are still elevated.
15:47
SPEAKER_00: The oil market is watching tanker movements.
15:52
SPEAKER_00: Just not the headlines.
15:54
SPEAKER_00: I mean, I should say not just the headlines.
15:57
SPEAKER_00: The 60-day nuclear clock.
15:59
SPEAKER_00: Let's get into that.
16:00
SPEAKER_00: Whenever a deal is struck, there's a 60-day window to negotiate Iran's nuclear enrichment.
16:06
SPEAKER_00: Iran's uranium stockpile is still inside Iran.
16:10
SPEAKER_00: That unresolved issue is what has blown up every previous ceasefire.
16:17
SPEAKER_00: And it will be the test of this pause as well.
16:20
SPEAKER_00: The bottom line is this the pause is real, and the pause is welcome.
16:24
SPEAKER_00: The underlying issues that caused the war have not been resolved, and every listener who breathed a sigh of relief this week should also be asking this question: What does my portfolio look like if this flares up again in 30 days?
16:43
SPEAKER_00: It's a valid question.
16:45
SPEAKER_00: Let's get into our second segment today, and that is the Fed.
16:49
SPEAKER_00: Okay?
16:52
SPEAKER_00: A lot of sources are being uh polled, you know, for this summary that I'm about to give you, but you know, CBS is asking the same question, the street is asking the same question, the Forbes are asking the same question, Morningstar is asking the same question, and that is what to expect from Kevin Warsh.
17:13
SPEAKER_00: The Federal Reserve meets uh this week, Tuesday and Wednesday of this week.
17:21
SPEAKER_00: The decision comes Wednesday afternoon.
17:24
SPEAKER_00: Now, this is only Warsh's second FOMC meeting as Fed chair, and this one is not going to be a snooze fest.
17:34
SPEAKER_00: Now, the last time we had his first one, we we said that there's a high probability, based on the news that we had at that point, that there was a high probability that Kevin Walsh the next time that the Fed met was going to raise rates.
17:49
SPEAKER_00: There's a very small and slim chance that he lowers rates.
17:54
SPEAKER_00: But he's also he's also on record saying that the economy, at least before, right before he came in, the economy the way it was could definitely have benefited from a lower rate.
18:07
SPEAKER_00: So it's 62% of the country says that it's gonna hold.
18:21
SPEAKER_00: As of this week, 62% of the market participants have expected the Fed to hold rates steady at 3.5 to 3.75.
18:30
SPEAKER_00: The remaining 38% are pricing in a rate hike to 3.75 to 4.0.
18:38
SPEAKER_00: That's a massive amount of uncertainty for what's supposed to be a quiet meeting, right?
18:42
SPEAKER_00: Worse said it himself before Congress this month.
18:45
SPEAKER_00: Warse said, quote, I have no tolerance for persistently elevated inflation, end quote.
18:53
SPEAKER_00: He also said, quote, prices are too high.
18:57
SPEAKER_00: He criticized the Fed for letting inflation run above 2% for five years.
19:03
SPEAKER_00: That is not a man who's comfortable doing nothing.
19:07
SPEAKER_00: And it might not be a man that is gonna get the nickname too late.
19:11
SPEAKER_00: I guess we'll see.
19:13
SPEAKER_00: Inflation is still at 3.7%.
19:17
SPEAKER_00: Now, Fed Governor Lisa Cook flagged it last week.
19:21
SPEAKER_00: Inflation is at 3.7%, well above the 2% target.
19:24
SPEAKER_00: Oil is back above$90 a barrel after the pause, which keeps energy inflation elevated.
19:30
SPEAKER_00: The Iran war pause may have come just in time for the Fed to have this meeting this week.
19:37
SPEAKER_00: So we'll see what happens.
19:40
SPEAKER_00: Now, Warsh has promised less transparency than Powell.
19:44
SPEAKER_00: He will not tell you what he's thinking, he will not signal his next move, and that uncertainty is itself a market event because look, silence says a lot too.
19:56
SPEAKER_00: And when you are as fragile as our market is, when you have that kind of fragility and people's fears and people's hopes and worries and dreams and all of that rolled into their decision uh to invest or to pull back or to, you know, whatever, his silence says a lot.
20:17
SPEAKER_00: Doesn't necessarily mean that the people are listening to it and acting on it are acting on exactly what he thinks, but they're acting nonetheless.
20:27
SPEAKER_00: When nobody knows what the Fed chair is going to do, markets get weak in the knees and nervous.
20:34
SPEAKER_00: September will be the real test.
20:37
SPEAKER_00: Most experts say July is a hold, but September is where things get serious.
20:43
SPEAKER_00: September rate hike odds around 70 to 80 percent.
20:48
SPEAKER_00: JP Morgan Asset Management said every Fed meeting is now live for a potential hike.
20:56
SPEAKER_00: That's not been true since 2018.
21:00
SPEAKER_00: So, what does it mean for me?
21:01
SPEAKER_00: What does it mean for you?
21:02
SPEAKER_00: What does it mean for every individual here listening to the show today?
21:06
SPEAKER_00: If the Fed holds, gold gets a short-term boost as rate hike fears ease.
21:12
SPEAKER_00: If the Fed hikes, it is a short-term headwind for gold, but a signal that the inflation problem is worse than expected, which is long-term bullish for hard assets.
21:23
SPEAKER_00: Either way, the direction of travel is not good for paper savings, but that makes it by default good for hard assets.
21:32
SPEAKER_00: What's a hard asset?
21:33
SPEAKER_00: Well, silver and gold.
21:36
SPEAKER_00: Silver and gold.
21:40
SPEAKER_00: So a lot's gonna be said or not said uh by Kevin Warsh, but a lot will be said by the decision when the meeting happens.
21:50
SPEAKER_00: Now, let's get to our third segment.
21:53
SPEAKER_00: Americans are eighteen point eight trillion dollars in debt, and the cracks are starting to show.
21:58
SPEAKER_00: Now, some Somebody might listen that's listening might say, whoa, whoa, whoa, whoa, whoa, whoa, what does that mean?
22:03
SPEAKER_00: I thought the country was$40 trillion in dollars,$40 trillion in debt.
22:06
SPEAKER_00: Oh, they are.
22:07
SPEAKER_00: We are.
22:08
SPEAKER_00: But let me break this down for you.
22:10
SPEAKER_00: U.S.
22:11
SPEAKER_00: household debt hit$18.8 trillion in quarter one of 2026.
22:17
SPEAKER_00: That is an all-time high.
22:19
SPEAKER_00: Up from third up 32% from$14.2 trillion before COVID.
22:29
SPEAKER_00: Mortgages,$13.19 trillion.
22:33
SPEAKER_00: Car loans,$1.69 trillion.
22:36
SPEAKER_00: Credit cards,$1.25 trillion.
22:40
SPEAKER_00: That blows my mind, by the way.
22:42
SPEAKER_00: Car loans are at$1.7 trillion.
22:45
SPEAKER_00: Car loans are something that I okay, I get it.
22:47
SPEAKER_00: Everybody needs a car in 2026.
22:51
SPEAKER_00: Majority of the people in the country.
22:52
SPEAKER_00: We live in a big country, folks.
22:54
SPEAKER_00: But when you've got credit card debt creeping up right behind that at$1.25 trillion, folks, that's a problem.
23:00
SPEAKER_00: Okay?
23:01
SPEAKER_00: Now you can't tell me, I know I'm going off on a little bit of a side tangent here, a side rant, but you can't tell me that that$1.25 trillion in credit card is necessary.
23:19
SPEAKER_00: Americans spend too much money.
23:25
SPEAKER_00: That$1.25 trillion, albeit it's still credit card debt, if you want to break it down even further, I would bet that a significant amount of that credit card debt is not like, oh, things are so bad, I need to run the credit card and live off credit.
23:41
SPEAKER_00: Americans spend entirely too much money because we live in a give me now microwave society.
23:49
SPEAKER_00: And if we just pulled back as individuals, the country would be in a lot better place.
23:54
SPEAKER_00: However, I digress, I'll move on.
23:56
SPEAKER_00: That's my rant for the day.
23:58
SPEAKER_00: Now, if you agree with me, then I'm going to need you to do me a favor.
24:02
SPEAKER_00: If you agree with me, I'm going to need you to go to goldencrestmetals.com right now or text report to M E T A L S because we're like-minded people.
24:13
SPEAKER_00: The average credit card balance, ready for this?
24:16
SPEAKER_00: $6,519 per household.
24:20
SPEAKER_00: The average credit card interest over 21%.
24:24
SPEAKER_00: If you carry a balance and only make minimum payments, you are paying more in interest than most Americans earn in a month.
24:33
SPEAKER_00: And more than 40% of Americans carry a balance every month.
24:38
SPEAKER_00: Foreclosures.
24:40
SPEAKER_00: Foreclosures up 21%.
24:42
SPEAKER_00: In the first half of 2026, 227,548 properties received a foreclosure filing.
24:50
SPEAKER_00: Up 21% from a year ago.
24:53
SPEAKER_00: Why?
24:55
SPEAKER_00: How come?
24:57
SPEAKER_00: I'm sure there's a lot that goes into it, but it's definitely something to keep in the back of your mind as you're thinking, how am I going to go into the future?
25:06
SPEAKER_00: Safe and secure.
25:08
SPEAKER_00: Analysts expect the full year to be worse.
25:11
SPEAKER_00: Elevated insurance premiums, rising HOA fees, and high property taxes are squeezing homeowners even if their mortgage rate is locked in low.
25:21
SPEAKER_00: Now we do live in a capitalist market, folks.
25:24
SPEAKER_00: And you know, if you seek out those states that have lower property taxes, if you seek out that homes that don't have HOAs, if you find homes that aren't at flood risk or, you know, hurricane or tornado risk, you might have a lower insurance premium.
25:44
SPEAKER_00: Personal decision does go a long way in this world.
25:48
SPEAKER_00: And when people decide not to give people or places their business, then those markets change based on supply and demand.
25:59
SPEAKER_00: Always keep that in mind too.
26:01
SPEAKER_00: The show is not to point our finger at everybody else.
26:04
SPEAKER_00: Sometimes this show is about to, about holding ourselves accountable for as well, and seeing what we can do and change in our own personal lives.
26:13
SPEAKER_00: Delinquencies are at the highest since 2017.
26:16
SPEAKER_00: Delinquencies of any duration, 4.8% of outstanding debt, the highest since 2017.
26:22
SPEAKER_00: Low-income borrowers are getting hit the hardest.
26:24
SPEAKER_00: The car loan delinquency rate hit levels last seen during the Great Recession.
26:29
SPEAKER_00: Subprime lenders are starting to go bankrupt.
26:32
SPEAKER_00: Is this a sign of the greedy work uh weeding itself out?
26:37
SPEAKER_00: I don't know.
26:39
SPEAKER_00: I know one thing: the market always works itself out one way or another if we have a true capitalist market.
26:48
SPEAKER_00: This is what economies are calling a K-shaped economy, folks.
26:51
SPEAKER_00: The top 40% are doing fine, spending, investing, buying stocks.
26:56
SPEAKER_00: The bottom 60% are watching their budgets get squeezed by inflation, debt, insurance, and stagnant wages.
27:01
SPEAKER_00: This isn't something that's a today problem.
27:04
SPEAKER_00: This has been a problem for a good five to six years, if you want to know the truth.
27:10
SPEAKER_00: Okay?
27:12
SPEAKER_00: The average car payment is 750 bucks a month.
27:15
SPEAKER_00: The average American has to work 38 weeks out of the year just to afford a new vehicle.
27:19
SPEAKER_00: That is not a sustainable situation.
27:21
SPEAKER_00: When people cannot afford cars, they cannot get to work, cannot transport their families, and cannot participate in the economy the way they used to.
27:31
SPEAKER_00: Why does this matter for precious metals?
27:33
SPEAKER_00: Well, when household balance sheets are this stretched, any external shock, a war escalation, another inflation spike, a Fed rate hike, that can tip families over the edge.
27:48
SPEAKER_00: It's just a fragile time.
27:50
SPEAKER_00: The people who have a portion of their savings and physical gold and silver have something the bank cannot garnish, and the credit card companies cannot touch, and inflation cannot eat away.
28:03
SPEAKER_00: Okay?
28:05
SPEAKER_00: Very important to remember that.
28:08
SPEAKER_00: And again, personal financial responsibility is a must here.
28:13
SPEAKER_00: Folks, this whole show is talking about your personal portfolio.
28:18
SPEAKER_00: If you want your personal portfolio to grow, well then you've got to have personal fiscal responsibility.
28:26
SPEAKER_00: And having personal fiscal responsibility looks different for everybody.
28:31
SPEAKER_00: Everybody's got a different situation.
28:34
SPEAKER_00: But I'm just going to tell you, my wife and I, we are not large investors.
28:38
SPEAKER_00: We don't have that kind of money.
28:41
SPEAKER_00: But what we do have is personal financial responsibility, and we are personally, financially mature.
28:49
SPEAKER_00: So when we save, we save to invest, or we save in case something bad happens.
29:00
SPEAKER_00: So yeah, maybe we have to save for a year or two years, three years to invest in more silver or gold.
29:07
SPEAKER_00: But I can tell you, when that gold and silver comes to you and gets delivered, I feel that it's worth it every time.
29:15
SPEAKER_00: And I don't get anxious over the daily dips and the daily uh rises.
29:22
SPEAKER_00: I just don't.
29:23
SPEAKER_00: I know that it's for long term, and I'm going to keep it that way.
29:27
SPEAKER_00: Now again, for those who might be just listening in, let me just kind of give you a recap here.
29:34
SPEAKER_00: We started obviously talking about the Iranian United States conflict and what that means, where we are, and what that uh what that looks like.
29:42
SPEAKER_00: Then we moved on to the Fed and the meeting of the Fed this week.
29:46
SPEAKER_00: Um we then went from the Fed to the$18.8 trillion in household debt that we're in right now and talked about credit cards and the average household credit card payment.
30:00
SPEAKER_00: And before we get into talking about gold and silver specifically, I do want to reiterate 888-991-6222.
30:08
SPEAKER_00: That's$888-991-6222, 888-991-6222, GoldenCrustmetals.com, or text the word report to METALS.
30:22
SPEAKER_00: That's metals.
30:23
SPEAKER_00: Text the word report to M E T A L S or 638257.
30:28
SPEAKER_00: That is 638-257.
30:32
SPEAKER_00: You want to talk to somebody at Golden Crest Metals?
30:34
SPEAKER_00: Now's the time to do it.
30:36
SPEAKER_00: Somebody's here, somebody's live, somebody's ready.
30:39
SPEAKER_00: Let's make it happen.
30:42
SPEAKER_00: Now, gold.
30:44
SPEAKER_00: Gold went back up over$4,100 an ounce.
30:48
SPEAKER_00: And the peace pause just removed its biggest headwind.
30:52
SPEAKER_00: Okay?
30:53
SPEAKER_00: Who's talking about this besides us?
30:55
SPEAKER_00: Trading economics, good returns, and Yahoo Finance.
31:00
SPEAKER_00: Gold right now, hovering around$4,077 to$4,105.
31:08
SPEAKER_00: Up about 0.7% on the day, up 1.5% over the last month, up 23% compared to last year, a year ago, year to year.
31:23
SPEAKER_00: Last week, gold closed around$4,052, its best weekly closing in several weeks.
31:29
SPEAKER_00: Why?
31:30
SPEAKER_00: I believe the market feels the same way I do about the entire situation that we're in and where we're headed.
31:37
SPEAKER_00: Now, why gold is moving up again?
31:39
SPEAKER_00: Well, the Iran war pause dropped oil prices 6% in a day.
31:45
SPEAKER_00: Lower oil prices means inflation fears are settled a little bit.
31:49
SPEAKER_00: Lower inflation fears means the Fed is less likely to hike this week.
31:56
SPEAKER_00: Okay?
31:58
SPEAKER_00: That's good.
31:59
SPEAKER_00: Lower hike odds mean gold becomes more attractive again.
32:04
SPEAKER_00: Frees up some of that money, frees up people's fears, lets them know it's okay to spend that somewhere.
32:10
SPEAKER_00: The chain reaction is exactly what pushed gold higher.
32:15
SPEAKER_00: It was an immediate result reaction.
32:18
SPEAKER_00: For every action, there's a reaction, right?
32:19
SPEAKER_00: That's exactly what happened.
32:20
SPEAKER_00: The action, the pause, the reaction, gold up.
32:24
SPEAKER_00: It's that simple.
32:25
SPEAKER_00: The biggest headwind just got smaller.
32:28
SPEAKER_00: For five months, the Iran war kept oil high, which kept inflation high, which kept rate height expectations elevated, which kept gold suppressed.
32:41
SPEAKER_00: Now, if this pause holds and oil stays below$90 a barrel, the primary force that has been working against gold weakens significantly.
32:53
SPEAKER_00: Okay?
32:55
SPEAKER_00: The July rate hike odds dropped.
33:00
SPEAKER_00: July rate hike odds, say that five times fast, guys.
33:04
SPEAKER_00: July rate hike odds fell from 37% to about 31% as the Iran pause hit.
33:15
SPEAKER_00: September odds eased from 82% to around 75%.
33:21
SPEAKER_00: That shift, even though it's small, was enough to push gold above$4,100.
33:27
SPEAKER_00: Imagine what a confirmed, complete, and finished peace deal would do.
33:35
SPEAKER_00: That is probably why economists are still saying we're ready to see a big one.
33:40
SPEAKER_00: Because again, folks, remember, gold and silver hit all-time highs right before this happened.
33:46
SPEAKER_00: This happening is what's causing this temporary price reduction.
33:51
SPEAKER_00: As soon as this is over and the infrastructure was built for more oil output from other countries during this time, you're going to have an influx of oil.
34:01
SPEAKER_00: You're going to have more supply than demand going everywhere.
34:05
SPEAKER_00: And it's going to be a heyday.
34:07
SPEAKER_00: And maybe that's what the president meant when he said the golden era is upon us.
34:15
SPEAKER_00: Every week we look at these predictions from JP Morgan, Goldman Sachs, Wells Fargo, and the rest.
34:23
SPEAKER_00: Every week we look at these predictions to see if at any moment these guys are going to go, you know what?
34:29
SPEAKER_00: We're too far gone in this year.
34:30
SPEAKER_00: We do not expect it to hit these massive numbers that we've been saying.
34:35
SPEAKER_00: But it's actually just the opposite.
34:38
SPEAKER_00: JP Morgan stands 6,000 by Q4 of 26.
34:42
SPEAKER_00: If gold is 4,000, 4,100 now.
34:46
SPEAKER_00: And it goes up to 6,000.
34:51
SPEAKER_00: Folks, that's jumping up a third of what it is right now.
34:58
SPEAKER_00: I mean, that would be jumping up$2,000 in six months.
35:05
SPEAKER_00: That's unheard of for an investment.
35:10
SPEAKER_00: Goldman Sachs says$5,400.
35:12
SPEAKER_00: Wells Fargo says$6,300.
35:16
SPEAKER_00: JP Morgan's target implies roughly a 46% upside.
35:23
SPEAKER_00: The war disrupted the timeline, period.
35:27
SPEAKER_00: The war uh disrupted the structural case.
35:33
SPEAKER_00: Debt debasement, central bank buying.
35:36
SPEAKER_00: That didn't change.
35:39
SPEAKER_00: So let's go back to when silver was 120 bucks an ounce.
35:43
SPEAKER_00: Gold was 5,500 bucks an ounce.
35:47
SPEAKER_00: The reason why it's where it is today is because of this.
35:51
SPEAKER_00: Everybody and their brother and sister, don't want to discriminate here, expect it to go back to where it was and higher.
35:59
SPEAKER_00: 95% of the world's central banks said in the World Gold Council last, the latest survey, that they plan to grow gold reserves in the next 12 months.
36:10
SPEAKER_00: China has bought gold for 19 consecutive months.
36:16
SPEAKER_00: They didn't sell during the war either.
36:19
SPEAKER_00: They bought the dips.
36:22
SPEAKER_00: All banks bought on the dips.
36:25
SPEAKER_00: It's exactly where you should be buying today.
36:27
SPEAKER_00: There's a reason for it, folks.
36:30
SPEAKER_00: It's like we talked about last week.
36:32
SPEAKER_00: If I went and I saw a car for$60,000 and I really wanted that car, but I just couldn't bring myself to spend$60,000 for it.
36:39
SPEAKER_00: And my wife said, no, you're not spending$60,000 on a car.
36:42
SPEAKER_00: And I said, okay, I guess I'm not getting the$60,000 car.
36:45
SPEAKER_00: And then the next day I drive by and it's$36,000.
36:48
SPEAKER_00: You can bet your bottom dollar on buying it without even asking my wife.
36:53
SPEAKER_00: I'll ask for forgiveness, not permission on that one.
36:56
SPEAKER_00: It's where we are, folks.
36:58
SPEAKER_00: Especially with silver.
37:01
SPEAKER_00: Gold fell during the war because the war drove oil up, which drove inflation up, which pushed the Fed towards hikes.
37:07
SPEAKER_00: Gold is now rising because the war is finished, is paused, not finished, excuse me.
37:11
SPEAKER_00: When the structural forces, the$40 trillion debt, 3.7% inflation, Social Security insolvency reassert themselves regardless of Iran.
37:22
SPEAKER_00: Where does gold go?
37:24
SPEAKER_00: The banks already answered that question.
37:26
SPEAKER_00: $5,400 to$6,300.
37:30
SPEAKER_00: Silver.
37:32
SPEAKER_00: Silver is testing at$60.
37:34
SPEAKER_00: Up 98% year over year.
37:37
SPEAKER_00: 98%.
37:40
SPEAKER_00: And the industrial floor just got confirmed again.
37:45
SPEAKER_00: Around$58 to$60 an ounce.
37:48
SPEAKER_00: Up nearly 1% on the day.
37:50
SPEAKER_00: Up 2% from a week ago.
37:52
SPEAKER_00: Up 50 53% compared to one year ago.
37:58
SPEAKER_00: Last week, silver saw a weekly gain of around 6.7%.
38:03
SPEAKER_00: Its best week in months.
38:05
SPEAKER_00: Testing the$60 level multiple times this week.
38:10
SPEAKER_00: Silver has tested, like I said,$60 multiple times this week without a sustained close above it.
38:16
SPEAKER_00: A clear break and hold above$60 is what analysts are calling the trigger for the next leg higher.
38:24
SPEAKER_00: So watch closely this week, folks, how this closes.
38:29
SPEAKER_00: A year ago, silver was$30 an ounce.
38:32
SPEAKER_00: It is 58 to 60 today.
38:35
SPEAKER_00: That's almost doubling in 12 months.
38:38
SPEAKER_00: It got up to$128 earlier this year.
38:42
SPEAKER_00: Double what it is now.
38:45
SPEAKER_00: Silver has a monetary engine, inflation hedge, and an industrial engine, solar, EV, semiconductors.
38:52
SPEAKER_00: The war paused both.
38:54
SPEAKER_00: So silver got a double whammy, which is why it went from 120 to 100 to 60 to 60.
38:59
SPEAKER_00: Because it got a double whammy.
39:01
SPEAKER_00: The peace pause is helping both simultaneously.
39:06
SPEAKER_00: Sixth consecutive year, silver is needed more than we can get it.
39:13
SPEAKER_00: That means the sixth consecutive year, the supply and demand has been upside down for silver.
39:21
SPEAKER_00: What is the gold silver ratio around 68 to 69 right now?
39:29
SPEAKER_00: Historically, averages 65 to 70.
39:33
SPEAKER_00: But the long-term historical average over centuries is closer to 16 to 1.
39:39
SPEAKER_00: Okay?
39:40
SPEAKER_00: So you got 68 to 69 to 1.
39:43
SPEAKER_00: Historically, averages around 60 to 70 to 1.
39:48
SPEAKER_00: But it's closer to 16 to 1.
39:51
SPEAKER_00: When gold makes a big run towards 5,000 or 6,000, silver tends to overshoot.
39:56
SPEAKER_00: That ratio compression is where silver investors make life-changing returns.
40:02
SPEAKER_00: Silver started 2025 at 29 bucks an ounce.
40:05
SPEAKER_00: It hit 121 in January of 26.
40:09
SPEAKER_00: It pulled back to around 57 during the worst of the war.
40:12
SPEAKER_00: It's now sitting around 60 and building momentum.
40:15
SPEAKER_00: The same forces that drove it from 29 to 121, which was supply deficits, industrial demand, monetary debasement, they're all still in place.
40:24
SPEAKER_00: The correction was the war.
40:27
SPEAKER_00: The story did not change.
40:29
SPEAKER_00: Okay?
40:31
SPEAKER_00: Now let's get to AI real quick.
40:35
SPEAKER_00: OpenAI admitted its down AI models broke out of testing environment called a sandbox and autonomously hacked another AI company called Hugging Face.
40:46
SPEAKER_00: OpenAI called it an unprecedented cyber incident.
40:51
SPEAKER_00: The AI did this on its own.
40:53
SPEAKER_00: Nobody told it to.
40:55
SPEAKER_00: What happens in a world where AI engines start attacking other AI engines?
41:00
SPEAKER_00: Or AI companies start attacking other AI companies, or companies that use AI start attacking other companies that use AI.
41:09
SPEAKER_00: The AI was supposed to be isolated, locked in a digital room with no outside access.
41:15
SPEAKER_00: Instead, it found a way to connect to the internet without human direction, stole credentials, discovered an unknown vulnerability, and broke into hugging faces servers to steal test data.
41:26
SPEAKER_00: A researcher described it as quote, we locked the student in a room and told them they had to be bad.
41:32
SPEAKER_00: We came back and they had broken out and gone to the teacher's house to steal the answer key.
41:38
SPEAKER_00: The highest level of AI autonomy ever seen.
41:41
SPEAKER_00: Georgetown University cybersecurity researcher Colin Shea Blimer said it plainly.
41:48
SPEAKER_00: This is the highest level of autonomy that we've ever seen in the use of a large language model for cyber operations.
41:56
SPEAKER_00: OpenAI said the newest model, GPT 5.6 SOL, was involved, along with an even more capable model that is still being tested internally.
42:06
SPEAKER_00: This incident is being monitored at the federal level at the White House.
42:11
SPEAKER_00: Congress is now discussing AI quad rail legislation.
42:15
SPEAKER_00: OpenAI says it's still investigating what happened.
42:27
SPEAKER_00: All of it.
42:56
SPEAKER_00: Now we know AI can break into financial infrastructures without being directed to.
43:01
SPEAKER_00: Crazy, folks.
43:03
SPEAKER_00: Crazy times we're living into.
43:05
SPEAKER_00: A gold coin cannot be hacked.
43:08
SPEAKER_00: A silver bar does not need a server.
43:12
SPEAKER_00: Physical metal that you hold in a self-directed IRA in your own name sits completely outside the digital infrastructure.
43:24
SPEAKER_00: And that just proves it.
43:26
SPEAKER_00: It can be broken into by a machine with no human supervision.
43:31
SPEAKER_00: That's not a theory, folks.
43:34
SPEAKER_00: That just happened.
43:36
SPEAKER_00: And last but not least, they're tracking everything.
43:40
SPEAKER_00: The Senate advanced the Genius Act, stable coin legislation that requires every private digital dollar to comply with the same Bank Secrecy Act requirements as a government CBDC.
43:52
SPEAKER_00: Every transaction tracked, every account freezable, private label, same surveillance.
44:00
SPEAKER_00: Tether, the largest stable coin, has already frozen 4.4 billion in wallets in coordination with the U.S.
44:07
SPEAKER_00: law enforcement.
44:09
SPEAKER_00: 344 million frozen during the Iran war alone.
44:14
SPEAKER_00: This is not a future threat.
44:15
SPEAKER_00: It's happening right now.
44:16
SPEAKER_00: It already happened.
44:18
SPEAKER_00: The capability exists and it has been used.
44:23
SPEAKER_00: 95% of your money is digital.
44:26
SPEAKER_00: Like I said, bank accounts, debit cards, Venmo, Cash App, Zell, all of it already runs through that same trackable system with government reporting requirements.
44:36
SPEAKER_00: So, and China is playing both sides.
44:40
SPEAKER_00: China built the digital yen, programmable money with expiration dates and spendable restrictions.
44:47
SPEAKER_00: The American household debt trap connects here.
44:49
SPEAKER_00: The$18.8 trillion of household debt we talked about, folks, when Americans are financially stretched, living paycheck to paycheck, dependent on digital credit cards and digital credit, the idea of financial independence through physical assets is not a luxury.
45:05
SPEAKER_00: It's a survival strategy.
45:07
SPEAKER_00: The Genius Act cannot freeze a gold coin.
45:10
SPEAKER_00: No government algorithm can program an expiration date into a silver bar.
45:15
SPEAKER_00: Physical medal in a self-directed IRA, and your name is yours, not a number in somebody else's database.
45:21
SPEAKER_00: So, one more time before we get ready to leave today, what are you gonna do?
45:26
SPEAKER_00: What's your homework?
45:27
SPEAKER_00: You're gonna call 888-991-6222.
45:30
SPEAKER_00: That's what you're gonna do.
45:32
SPEAKER_00: That's your homework today.
45:33
SPEAKER_00: 888-991-6222.
45:38
SPEAKER_00: Or text the word report to Metals, M-E-T-A-L-S right now.
45:44
SPEAKER_00: That is text the word report to 638-257.
45:48
SPEAKER_00: Call 888-991-6222.
45:52
SPEAKER_00: Or go to goldencrestmetals.com today, folks.
45:55
SPEAKER_00: We don't tell you this stuff to s to cause fear in your life, but sometimes fear is a motivator.
46:04
SPEAKER_00: You understand?
46:05
SPEAKER_00: Sometimes fear is a motivator.
46:09
SPEAKER_00: And sometimes people need to be motivated before something bad happens.
46:14
SPEAKER_00: All we're doing is giving you the information.
46:17
SPEAKER_00: Up someday if you're not, if you don't take this information and do something with it, and it doesn't mean calling us right away, but if you don't take this information and do something with it, knowledge is power, then one day I fear we're all gonna wake up, and much like the Great Depression, you're gonna go look in your bank and it's going to be gone.
46:36
SPEAKER_00: Gone.
46:39
SPEAKER_00: I don't think any of us could stomach that.
46:41
SPEAKER_00: I don't think any of us could afford that.
46:44
SPEAKER_00: I don't think any of us want that.
46:47
SPEAKER_00: 888-991-6222.
46:49
SPEAKER_00: That's gonna do it for the Crest Report.
46:51
SPEAKER_00: Thank you guys very much.
46:53
SPEAKER_00: Have a great day, and we'll see you next week.
46:57
SPEAKER_01: You've been listening to the Crest Report, where markets meet reality, brought to you by Golden Crest Medals.
47:03
SPEAKER_01: For your free portfolio review and free no obligation investor kit, plus up to$25,000 in free silver with qualified purchases.
47:11
SPEAKER_01: Text the word report to M E T I L S.
47:15
SPEAKER_01: That's report to 638-257.
47:19
SPEAKER_01: Or call 888-991 6222 or visit goldencrestmetals.com.
47:25
SPEAKER_01: See you next week.