Latest / EEShow (Everything's Energy Show) / Money Is Not Wealth: Gold, Silver, Bitcoin and the Cashless Future | Everything’s Energy Ep-58

Transcript

Money Is Not Wealth: Gold, Silver, Bitcoin and the Cashless Future | Everything’s Energy Ep-58 · EEShow (Everything's Energy Show)

• 0:00
  Michael Scalar: Alright. Well, we're tuned we're tuning in to EEShow, and let me just start by saying money, money, money, money. Actually,
• 0:08
  Roland: we did the high notes pretty decently there.
• 0:09
  Michael Scalar: Yeah. Yeah. So today, we're gonna be talking about the world of finance, hard money versus soft money. A lot of people are completely out of touch with reality of the energy of money. So let's ground in.
• 0:23
  Roland: Let's grab our
• 0:24
  Michael Scalar: green because you you... It's hard to operate in the third dimension and this reality that we call here on Earth if you don't have a little finances.
• 0:32
  Roland: Well, you know, it's an interesting topic just for the very nature of a lot of people in the world of health, the world of energy and healing. Money is always a challenge. That's the thing. The whole idea of the spiritual world is there's this aesthetic notion of you shouldn't have any excessive money. You shouldn't be money focused.
• 0:49
  But the reality is we live in a world where if you don't have a good masterful relationship of finance, the world is very challenging. And a lot of people have money blocks and beliefs that are... They're choking or strangling their abundance. And and you have an incredible background in finance and a really good understanding of money and finance in general. I thought considering money is really a circulating energy, and if you can relate to it as an energy and and drop all the worries and the resistances about money, it can be very empowering and and really interesting to learn about.
• 1:18
  Michael Scalar: Yeah. No. And a a lot of people, they get money, so they get $2, and they go, oh, I have all this money, and then they go on vacation. They spend it all. And they do this cycle of not really creating a cushion to fall on Mhmm.
• 1:29
  Which is extremely dangerous. And and people probably, oh, you were raised in my... I grew up poor. My mom raised the children of three different one... Wait.
• 1:38
  Four four children. Four children by herself more or less. You know, total g, Doctor. Sandra Rosa Michael for those who know and don't know, now they know. You know, we didn't have a lot growing up, and then we built a lot.
• 1:51
  And I learned a lot in the buildup because... Well, let's just go with 2,008, which looks like it's about to occur again. 2008, we're doing amazing. Most of our our our EESystem sales were financed, so people were getting financing to purchase it. 2008 happened.
• 2:06
  We went straight to a cash only business because no one was lending any money and we didn't really account for that. And so we ended up... EESystem actually going into debt a bit and and we had to climb out of that slowly because we owed a bunch of people money for different projects we were working on. And it it caused me to realize I shouldn't be spending the money I have. I should make sure I have a cushion at all times.
• 2:26
  So I became much more aware of the fact that I should be conscious of the... I might need some emergency funds. And in America right now, most people can't afford a thousand dollar emergency.
• 2:38
  Roland: You're... The statistic is most people don't have $800 in a pinch Yeah. To have access to to pay for something in an emergency.
• 2:45
  Michael Scalar: Yeah. And then growing growing up also in the music scene, the amount of people that would go into debt to go out party. Yes. So peep... People's lifestyle is more important to them than actually managing their finances.
• 2:56
  I remember going to school, they didn't really teach us how to balance a checkbook. They didn't teach us financial sovereignty. They didn't teach us really anything. They they taught us the basic matrix mindset. So the takeaway for a lot of people today is how to honor the fact that money is important and you should love it.
• 3:12
  You shouldn't hate it. A of people are oh, money is the root of all evil. No. Evil is the root of all you. Yes.
• 3:17
  Money is just a tool and and it can facilitate evil projects, or it can facilitate humanitarian projects. So my takeaway for all you, by the end of this, I want you to have some little knowledge of how money really works investing and the kind of current state of the economy here in America, but which also reflects the global economy because the globe is literally... We're all one big ball of energy. If one financial collapse occurs somewhere, it occurs everywhere. It's
• 3:41
  Roland: a domino effect.
• 3:43
  Michael Scalar: It's a domino effect. And I I am leery that we are approaching, I don't wanna say recession or depression. We're... Shift. A shift is coming.
• 3:52
  A financial shift is coming and people should be aware of it. And no, I'm not about to plug buy silver from one of our vendors. There's a lot of influencers out there doing that. Although, I am bullish on silver long term, but I'm not gonna tell you to run out and buy it, and we'll look at some charts and and we'll discuss that. But at the end of...
• 4:09
  At at the the beginning of the day, you should wake up and think, what can I do to maximize my future goal?
• 4:15
  Roland: I had a thought about how to how to start this really well because I'm with you. I like the idea of talking about things that could be stores of wealth. Mhmm. I think we should delineate between the difference between money and wealth Mhmm. And start with explaining fiat currencies, I e, the dollar that we use to spend.
• 4:31
  Because most people don't even understand what a dollar is, how a dollar comes to be, and what a dollar actually buys you in the case of the economy today versus, say, twenty years ago, fifty years ago.
• 4:42
  Michael Scalar: No. It's it's a great place. I'll I'll let you dive into that because that is part of the problem that we're facing right now is the dollar is losing value. Inflation, it... I mean, anyone you talk to will say things are getting more expensive.
• 4:54
  And it's not just here. It's everywhere.
• 4:57
  Roland: So I'm not an economist, but I... I've been very encouraged and also I wanna have an ability to understand what it is I'm actually dealing with when it comes to making my money and spending my money. As I was diving into the notion of understanding what a fiat currency is, a fiat currency is essentially a created currency that a country country will use. You have an American dollar. You have the British pound.
• 5:19
  You have the lira, the euro. That money is essentially a promissory note that is theoretically backed by something, usually backed by an asset. Yeah. I believe it was in the seventies, one of our presidents, Nixon, took us off of what's called the gold standard because at one point, the value of money was directly tied to an equivalency of gold that if you turned in your gold, you would get a certain amount of dollars that was an equivalent value. Yep.
• 5:46
  And then you could go change those dollars back in and get your gold back. Mhmm. There's been a few scenarios where the American people have had to turn their gold in to the US government. The US government's revalued gold for their benefit of managing their balance sheet. But ultimately, the US dollar nowadays, to my understanding, is backed by the belief in the US dollar's value.
• 6:05
  And the US dollar is a very powerful currency at the moment because it is the global reserve currency. It is the dollar that people need to do deals in oil in globally internationally. So the dollar has the ability to maintain its purchasing power because of the global assumption that this piece of paper that says five, 10, 20, a 100 has an inherent level of value. Because that fiat currency is controlled by a federal reserve in this scenario,
• 6:32
  Michael Scalar: in this case federal.
• 6:33
  Roland: It's not federal, but it's called the Federal Reserve. Our country has the ability to put as many of these dollars into circulation as possible or as much as they want, and they do so sometimes for the benefit of balancing their own books. But what people don't understand is over time, the more the dollar gets printed, the more the dollar gets circulated, the more of them in circulation devalues the purchasing power of that dollar. And it doesn't mean a $100 bill now is a $94 bill, but what used to be a $100 as a result of more money being put into the market based upon inflation now might cost a $135. Mhmm.
• 7:09
  So as your dollar becomes devalued, your purchasing power goes down. And then the cost of things going up actually makes the store of wealth that you may have in the bank as a $20,000 or $15,000 saving, it has the purchasing power of what $10,000 now has or 5,000 based upon the devaluation of the currency. So the first thing I think people need to understand is the American dollar is not a fixed static, not a reserve of wealth in any way, shape, or form. It's actually based upon what's going on economically now, a deteriorating asset.
• 7:43
  Michael Scalar: Well, all all currencies are at this point because... And we're gonna get into the charts of silver and gold. But if if you kind of notice, they've been trending up heavily. And the question is, is gold going up? Is silver going up, or is the US dollar going down?
• 7:59
  There's a combination of things, and we'll get to that when we look at the charts.
• 8:01
  Roland: That's a perfect example of the value of gold and silver is only going up because the dollar's purchasing power has dramatically reduced. Yeah. And and that's a a display of inflation, not the 3.4% CPI data that they tell us on the news. Because I remember before COVID, I could go to the grocery store and buy a container of raspberries for $2.99, $3.99. Why is that container of raspberries now $8.99 even though they're saying inflation is only 3.4%?
• 8:30
  It just shows you that the purchasing power has eroded, so the idea of having a lot of dollars equating to you having a lot of wealth is actually a misnomer. That's someone who really doesn't understand money, but believes that saving as one did in the forties and fifties is a good way to actually become wealthy.
• 8:47
  Michael Scalar: Well, and it's it's funny because you just brought up an interesting point about inflation too because the government is kind of... Well, we don't want people to freak out and say it's 20%. Your Raspberry situation's a great example. Oh, well, it's at three, it's at six, it's... Inflation's here at these numbers and that's based off a basket of certain items and they kinda cherry pick those items.
• 9:05
  Because when you go out to Costco or to Whole Foods or Albertsons or whatever your supermarket is, and, I mean, there's people that literally take their receipts from ten years ago, five years ago Mhmm. And they buy the exact same items, and it's
• 9:17
  Roland: like double. So there are things that people talk about. The price of coffee is a 130% up over the last couple years. The price of ground beef is about 91, 92% increased. Most of the commonly held things, eggs are about a 100% increase in terms of cost.
• 9:32
  So people don't understand that because, practically, they don't know the mechanisms that are being pulled to result in that. They just don't understand why their dollar doesn't stretch as far as it used to or the grocery bills are dramatically more than they used to be.
• 9:44
  Michael Scalar: Well, and let's talk about how we get to inflation. So a lot of people go, oh, well, it'd be great if we had universal health care and all these things. We need less government at the end of the day because what happened was the government said, oh, well, we're we're gonna give people all these things so that we can get reelected, and we're gonna... A lot of... We were seeing a lot of government fraud being unveiled recently.
• 10:04
  We shout out to Nick Shirley. Yeah. Is it Nick Shirley?
• 10:06
  Roland: Yeah. Think that's good.
• 10:07
  Michael Scalar: Yeah. Yeah. Yeah. Going around showing the the Somalia fraud and I think it's Minnesota, California, New York showing similar fraud. They made the system far too easy to game and then wonder why there's out of control spending.
• 10:21
  I mean, there just needs to be audits, but that no one was auditing it. So like, oh, well, you have a project and it looks good. Stamp, here's millions of dollars. This is a huge problem. Then you had COVID where tons of money was being spent.
• 10:32
  Now we have wars, tons of money being spent. And where's that money coming from? Well, they're just printing it out of thin air. Every time you print more money in an already deflating economy, it causes the dollar to lose its purchasing power. Which is why people are moving so hard into hard assets like gold, silver.
• 10:51
  Crypto's volatile, but it was it was funny because it was like a year ago and I ran into this guy and he's a professor that teaches... He's an economist. And I... And we were talking about how everything's just kinda like going to shit. And I I just...
• 11:05
  My point... I'm like, I'm curious what you're gonna say about this. Where is smart money moving? Without a pause, without a hesitation, he goes, gold. Yep.
• 11:13
  And I was just like, damn, that's way too easy, but it's it's true.
• 11:16
  Roland: And do you wanna explain why gold is such a powerful tool as a store of wealth?
• 11:20
  Michael Scalar: Go ahead.
• 11:21
  Roland: I'll do my best to add to that. So fiat currencies we've established can be printed. A government can print as much money as it should desire at any moment. Mhmm. And as a result of that, the currency becomes devalued, so it takes many more of those dollars to buy things.
• 11:35
  Yep. Can you print gold? You cannot. You have to mine gold. Yeah.
• 11:39
  Very expensive thing
• 11:40
  Michael Scalar: to do. A finite supply. So when you have a supply cap, it creates a supply and demand issue. So you can't just spend lots of more of this infinite money on getting something because it's it's there's less of it. And that raises the price because the infinite money now flows into the finite money.
• 11:56
  Yep. And then the price goes up alongside the... I mean, back again to is it... Is gold going up in value or is the dollar deflating? Because the one ounce of gold is now at, as we speak today, 7?
• 12:08
  $4,607.
• 12:10
  Roland: And it's down a little bit. Because there there are pressures of manipulation to try to keep a lid on some of this stuff. I mean, I've heard the real value should be dramatically higher, but... You know?
• 12:19
  Michael Scalar: Maybe at the end the episode, we'll get into some the theoreticals. I... Because I talked to someone the other day... Just two days ago who's throwing out some wild numbers that they think silver and gold will go to. And I was just like...
• 12:30
  And my response was, if that happens, that is very scary. Yes. We're... Well, we'll compare it to the fan.
• 12:37
  Roland: Back to your original question, why gold is so powerful, a, is it cannot be printed.
• 12:41
  Michael Scalar: Mhmm.
• 12:42
  Roland: B, it's not in a denomination that is exclusive to one nation. It is a
• 12:47
  Michael Scalar: It's universal.
• 12:48
  Roland: It's a universal thing that can be inter... Interdependently changed or exchanged between currencies. Yeah. I mean, the the old saying is gold is God's money. Right?
• 12:57
  You cannot I
• 12:58
  Michael Scalar: think the Jews, that's literally their thing, isn't
• 13:00
  Roland: I think so. I mean, it's in the Bible from what I've heard.
• 13:02
  Michael Scalar: Oh, is it in the Bible?
• 13:03
  Roland: But gold... And it's interesting we're talking about gold and silver because, you know, one one of the major signs was of the fall of the great Roman Empire is when they started to water down the silver denarius where they made it progressively less and less silver and more base metal. I don't know what the the alchemy of the coin was, but right before the fall of the Roman empire, the silver coin was somewhere under 5% silver. Wow. So every time a nation has divorced their currency from the asset backing of something that's a finite resource like a precious metal, the the corruption and the printability of a currency that's not backed by anything always gets away from people, and they have to play games to keep things under control.
• 13:47
  Michael Scalar: Well, let's bring that back to modern society now. You you used to be able to get coins in America that were 90% silver?
• 13:53
  Roland: Yes. Silver dollars.
• 13:54
  Michael Scalar: Yeah. They're not cool.
• 13:56
  Roland: Technically, they're more than... There's the junk silver that was 90, but there were also 99.999 percent.
• 14:01
  Michael Scalar: You're talking about US Mint coins though, but the... I mean, actually circulating.
• 14:05
  Roland: They are... They're 90% silver. Yes.
• 14:06
  Michael Scalar: Yeah. Yeah. So, I mean, you used to be able to get coins that actually had precious metals. Mhmm. Pennies used to be made out of copper and then they started making them out of aluminum.
• 14:13
  Roland: Because the copper is more expensive.
• 14:14
  Michael Scalar: And the same with the nickel was reduced to more aluminum. I mean, so our... The Rome has occurred here essentially where we've now mixed the metals and then we're getting away from coins. They actually wanna do away with a lot of the coins from what I hear.
• 14:28
  Roland: But think about fact......
• 14:29
  Michael Scalar: More expensive than just printing paper.
• 14:31
  Roland: A silver dollar was worth a... You can still spend a silver dollar as a dollar. Like, if you wanna use it as a currency, it's still accepted. But silver being roughly at $67 an ounce right now, that $1 denomination of coin will buy you dramatically more than its actual, quote, unquote, value that the US government will accept it as.
• 14:50
  Michael Scalar: That's so true.
• 14:51
  Roland: So that... That's a good indication for people to start to understand that the money you spend is not the money you think it is once you start popping the hood and looking a little bit deeper.
• 15:01
  Michael Scalar: Well, I mean, let... Let's take a look at the charts just to to peak people's interest here who are watching because they're probably fascinated. What... What's going on in the charts of silver and gold? We're gonna look at crypto a little bit as well.
• 15:11
  So video editors, let... Let's move to the charts. So here, we're gonna be looking at silver. Silver today, and the date is 08/2626. We do bank our content, so this...
• 15:23
  When you watch this, it could be much higher or much lower. You never know
• 15:26
  Roland: with the charts. But... My hope is much higher.
• 15:29
  Michael Scalar: Pulse is much higher. I actually think we're gonna go higher. Mean... It's... Let...
• 15:33
  I'm gonna scroll back a little bit. We had a... Let's go look at 2025. So where my cursor is right now is January 2025, the beginning of this year. The level was around $30.
• 15:48
  2025. Now let's move to 2020... 2026 is right here on the chart, and you can see the line. Do you notice the difference? 2026 opened with...
• 15:59
  Roland: I think it hit $1.20... Right?
• 16:02
  Michael Scalar: Well, okay. The very... We're... I'm in December '25, January. It was about $70.
• 16:08
  Where we are now. Right where we are about right now. Now, it peaked at over a 100... A little over a $120 by January 30. In one month, it doubled.
• 16:21
  It was a wild ride for silver. And so let's kind of talk about what happened with silver before we look at gold, which kind of did a similar thing. There was a lot of hype on the internet and people were going over some different scenarios of why silver was so important. China was buying a lot of silver for industrial use, solars, there's a new EV battery technology.
• 16:44
  Roland: AI uses a ton of silver.
• 16:46
  Michael Scalar: Yeah. All the AI componentry uses a ton of silver. For those who aren't familiar with electronics, if you open up your phone, a computer, all these AI computer, the GPUs and things they're using to compute AI, there's a lot of silver. The reason why they use silver is it's one of the most conductive materials or the optimal conductive material in making these. Also, a lot of people don't know this Tomahawk missiles, these things.
• 17:10
  Roland: A kilo per Tomahawk.
• 17:11
  Michael Scalar: A kilo of silver per Tomahawk. Mhmm. We need silver. It's a critical mineral. It's been classified that by The US.
• 17:18
  Roland: This just happened this year too, the the critical mineral classification.
• 17:22
  Michael Scalar: Right. Because we're in a, I think, a six year deficit.
• 17:23
  Roland: Six year mining deficit. Mining deficit. You're right. Now Let's explain what that means before.
• 17:27
  Michael Scalar: Yeah. Do you wanna?
• 17:29
  Roland: Yeah. So very simple.
• 17:30
  Michael Scalar: Yeah.
• 17:30
  Roland: There's a certain amount of silver that that's pulled out of the ground every year. There's a certain amount that's utilized. For the last six years, we have been utilizing more than we've been mining, and the reserves are being depleted. So this is one of the reasons why people are buying silver or thinking on a long term that silver is a great investment because when a finite resource becomes extremely finite, it's not a question of how much is it gonna cost. It's gonna be, is there gonna be any to buy?
• 17:53
  And those who hold are gonna be able to sell at massive prices because there's going to be desperation.
• 17:58
  Michael Scalar: Yeah. And a lot of the silver mining that occurs, a lot of people aren't... You don't just go find a silver vein.
• 18:03
  Roland: It's a result of mining for other things.
• 18:05
  Michael Scalar: It's a result of mining for a lot of different things. So what kind of occurred is people realized that there was deficit of silver. There was another combination of things too is, I think it was JPMorgan and maybe a few other banks were heavily short silver. They were? Yeah.
• 18:19
  So on paper, they were short silver and it started skyrocketing. So what happens when you're short silver and you can't... And you're you're literally getting a margin called, which means it's... You're you're screwed essentially.
• 18:32
  Roland: Yeah. They have to pay the money that you've shorted, basically.
• 18:35
  Michael Scalar: Well, no. They have to provide the silver.
• 18:36
  Roland: Sorry. Yes. They have to provide the silver for else. Yes.
• 18:39
  Michael Scalar: Because they borrowed silver ounces to short it. Now they have negative shorted silver because they've shorted, so they had to go buy silver bars to put into the market to cover their margin call. What happened was in London, from what I understand, is London, the LBMA, London.
• 18:55
  Roland: You don't... Bank of London bank... Anyways... The Precious Exchange... Precious Metals Exchange in London.
• 19:02
  Michael Scalar: Yeah. Yeah.
• 19:02
  Roland: It's the big hub.
• 19:03
  Michael Scalar: It's a big hub where they store all the silver and gold for the markets. They basically ran out of silver. Yes. And they were fractional reserve banking the silver too. So they were loaning out more silver than they actually had in their vault, which is common in any bank.
• 19:16
  You give them $10,000 and they'll give you a thousand dollars to spend in your account and they're lending out the other 9,000. Similar thing occurred in the silver market, which is why you saw a two month run up from $50 to a 120 roughly. It's because of a a giant black swan event occurred for the silver market and it was just, I remember watching it too. I'm like, this is just so fascinating because in crypto, have meme coins and they'll just run up and... Really fast and tank down really quick.
• 19:45
  I'm like, why why is a commodity trading like a meme coin? This isn't a doggy coin or a cat coin. This silver. But it was fascinating to watch. And so, I mean, there's a new battery, an EV battery coming out that supposedly is rivaling all batteries, but it requires the chemical makeup of silver at a large quantity.
• 20:03
  And you can't... A a a chemical is a a chemical. It's it's not like you can water it down. You can't add nickel. I'm sure they'll try and figure out ways to achieve it.
• 20:11
  But when you need the actual chemical makeup of silver itself to make these batteries work, you only can use one type of metal and it was silver. And so those batteries are supposedly coming soon and that was one of the big hype points. So that... Was buying en masse, and they're still buying en masse all kinds of metals. So is India.
• 20:29
  Every country is essentially... And I think I think India... There was a few countries that actually stopped exporting metals.
• 20:35
  Roland: China did. India did as well. India. And a lot of countries were bringing their
• 20:40
  Michael Scalar: metals African ones.
• 20:41
  Roland: Yep. They're bringing their metals back from the major exchanges in New York and England. So people were standing for delivery for thousands upon thousands of ounces of silver. Yep. And this is why people were starting to get shaken out because they have no idea how much is there, who's taking delivery.
• 20:57
  All this stuff is is unknown to people. So there's a big game going on behind the scenes in terms of the value of what it is that they're calling home as well.
• 21:04
  Michael Scalar: Yeah. And so, I mean, it was really fascinating. We'll go back to this chart here. The run up was really interesting. Like I said, this is a meme coin where it just kind of ran up a ton and then crashed a ton.
• 21:15
  My theory on what occurred is, you know, people realized they were gonna get margin called. So they opened up long positions. Mhmm. And then they they actually fed the market and they started buying silver and mass to cover their their margin call shorts, buying of the silver on paper and opening up long so it's leveraged. So they were making a bunch of money going up and then they they realized they use these AI tools to analyze the market.
• 21:38
  The AI said, okay, we've reached a point where we we can go back down. So they probably opened up those short positions again and sold everything they had into that short position. And if you're watching here on the screen, I'm kind of showing these things. This is this is not normal to see a red candle go down like this.
• 21:53
  Roland: They settled their shorts when it dropped strategically.
• 21:57
  Michael Scalar: Yeah. So, I mean, and this is, you know, it's it's called covering your position. Mhmm. So they covered on on both directions. They they got margin called and then said, well, how do we make this money back?
• 22:05
  Opened up longs, bought into it, and then opened up shorts and just sold into it. This... I mean, I I believe there's investigations going on this. I don't... I can't confirm that.
• 22:14
  And if there isn't, there really should be because I believe it was JPMorgan as well who already got a sanction by the US government.
• 22:20
  Roland: Fined billions of dollars for manipulating precious metals before, and apparently, they closed the majority of their short positions when silver crashed at its bottom before it started bouncing.
• 22:30
  Michael Scalar: Yeah. So, I mean, the... When you look at this chart, this just looks like clear... This looks like a rug pull. Yep.
• 22:35
  This looks like manipulation.
• 22:37
  Roland: And I think it's worth mentioning too that the silver market and the gold market for that fact, the price is more so driven off of the paper market than it is the physical market. For every one ounce that's traded, there's... Don't know what the ratio is. Hundreds, if not thousands of ounces of paper that's traded upon every ounce of physical milk.
• 22:54
  Michael Scalar: It was really high. I forget what the ratios were. There was new legislation that I heard was being passed. I don't know if it has, where they they were actually gonna make it like a one to one. I hope that was actually a real thing.
• 23:05
  Roland: They're trying... China has just opened up an exchange that settles everything in physical, not paper. So they're trying to strangle the influence of the Western world's price manipulation via the paper market being so divorced from the physical market.
• 23:20
  Michael Scalar: It's a crime. It's criminal.
• 23:21
  Roland: It is. Yeah. And it's suppressing the real values of things, which we'll get at. But I I did wanna ask you something just for the clarification. Can you very quickly explain a long and a short position so people understand what you're talking about?
• 23:34
  Michael Scalar: Let's say silver's at $60. I believe it's gonna go to a $100. So I can open up a position where I'm gonna call that it's going to go to a $100 and I can leverage it and there's different premiums that occur. I personally don't do options. It's called options trading.
• 23:51
  So I can I can say, hey, believe this is gonna go to a $100 and I can leverage it And the more I leverage it and it doesn't go there, the more I'm screwed? But if it actually goes there, I actually make a multiple. Short position, again, you're calling the opposite direction. You can leverage it. But so let's just say you...
• 24:06
  You're trading the uptrend and you buy silver and you... Then you know it's gonna go down. So that... It was designed so that people who can trade in both directions. I think options trading should actually be criminalized because too many people are doing it losing their ass, especially when you have big boys in there with these giant AIs and the ability to be a market maker and just move the market.
• 24:27
  Roland: They can manipulate via how they're trading and it influences the market because they're so influential because of their size.
• 24:33
  Michael Scalar: And it's it's... There's a lot of variables which they have the ability to control. Mhmm. So the average person, you know, there's so many people out there that get liquidated and because they're just gambling. And it's the house always when the house though is just big bangsters with giant AI computers and really smart guys pushing buttons saying, we're gonna take your money.
• 24:53
  Roland: So if you open a long position, it's at 60, you say it's gonna go to a 100, you have a period of time to where that transaction can take place. Correct. And if it does go, you make a lot of money out of the prediction of the correct position of it going up in the long term. Yep. The short is just the inverse of that.
• 25:10
  You think it's gonna go from 60 down to 30, you bet on it going down to 30. And if it does, are remunerated handsomely because you predicted the tea leaves correctly.
• 25:20
  Michael Scalar: Yeah. And then if you're leveraging, you have to... Typically, an account won't let you overleverage past what you have it. So, like, you're gonna bet or trade $30,000 worth. It'll only let you leverage so far as your account will allow.
• 25:32
  Yeah. So... Because they want to
• 25:33
  Roland: to have the money to back
• 25:34
  Michael Scalar: it up. Yeah.
• 25:35
  Roland: But Which was not always the case, and they've actually changed some of these sanctions and and allowances in the last little while. So these massive market manipulations can't happen. That's why they say they're doing these things. I actually think it's because most people who are manipulating this don't have the money, and they wanna play the game. It...
• 25:54
  I I don't think it's... I don't take anything for surface value anymore.
• 25:58
  Michael Scalar: Yeah. I mean, but for the average person watching this, I mean, the the the reality here that we're trying to get across is there's clearly something going on in the hard money market. Mhmm. And the manipulation, you can kind of ignore that, but it's also interesting when you look at technical analysis, I'm looking back at the chart here, when something runs up to a 120 k and then crashes back down like this, it's normally a buy indicator. And I just wanna say, am not a financial advisor.
• 26:23
  I don't play one on the Internet, although I am kinda showing you my screen here. I've been fascinated with technical analysis for a long time. I've I've done very well with trading a lot of different things from crypto to metals and sometimes some stocks. Although, I I really don't like stocks because they don't move as fun. Crypto is fascinating because it's highly volatile.
• 26:43
  But when I see a chart like this and I see it went up to one twenty one, just... Yeah. Right over one twenty and then it crashed. That's one wave, second wave, third wave, fourth wave, fifth wave. This is a double bottom.
• 26:58
  You see how it touched this line twice? And now it's it's begun an uptrend. Now, if you're watching this in, you know, a few weeks or a month and it's way over here in this green zone, these between these lines, I wouldn't be surprised. I would be shocked if it comes back down here, but I think if you... If you're waiting to buy silver and you're like, I'm not gonna do it unless it crashes, the 55 zone is, you know, probably a safe place to load up.
• 27:23
  I think... Again, do your own research.
• 27:25
  Roland: I'm not gonna that.... Is gone. I believe this... Yeah. I I believe this much.
• 27:28
  Yeah. I am not a finance guy. I'm a health guy. I have zero credibility in the world of finance, but I have been getting into this world, and I love consuming YouTube content and listening to different people share their opinions and perspectives. Based upon everything I've learned, I think the days of cheap silver are gone, and I believe the opportunity for people to buy such hard assets and stack them is starting to shrink based upon availability and the possibility of affording such things.
• 27:56
  Michael Scalar: Yeah. And and this is the hard money, soft money of concept here. If inflation is gonna continue and there doesn't really seem to be an end in sight, a lot of people start off small. They buy a couple silver coins. You you look at the spot price of silver, which today is 68.77.
• 28:14
  When you go into a shop, you are gonna pay a premium. It's typically two to 10% depending...
• 28:19
  Roland: Usually 2 to $5 over spot.
• 28:21
  Michael Scalar: Yeah. You can... If you're if you're... If you don't have a shop near you, I'm I'm in no way associated with this company. I've just bought metal from them before and they've have great customer service.
• 28:32
  I've never lost anything with them. It's Apmex, a p m e x.
• 28:36
  Roland: ST Bullion's another good one. Yeah. Yeah. JM Bullion. Like, we're not affiliated with any these companies.
• 28:40
  I've just shopped around.
• 28:41
  Michael Scalar: Yeah. Yeah. No. I mean, and they have items on sale too. An ounce of silver will always be worth an ounce of silver, so don't buy the fancy one that has a cool picture on that you want because it'll be an extra $20.
• 28:50
  Roland: That's a collectible. That's a $20.
• 28:51
  Michael Scalar: Which has no value when you go to sell it. And a lot people understand that. And I'll caution people too to buy... From buying their metals through their favorite YouTuber. It's gonna be more expensive typically, and I'm sorry for anyone that hates me for saying this, but it's more expensive because they're getting commission Yes.
• 29:08
  Typically.
• 29:09
  Roland: After the initial welcome purchase where you can get $3 at Spot by saying this person's name
• 29:14
  Michael Scalar: Yeah.
• 29:15
  Roland: There's usually an upcharge for going through someone's, you know, payment link or
• 29:20
  Michael Scalar: whatever they call And then I'll also caution, there's a lot of scammers out there, and I was just talking to someone. I've heard a few other stories, and these guys will sell you these weird coins. So let's say silver is at 20 or $30. There were guys out there selling $80 silver coins that were, you know, gonna be worth so much more because of some weird scammy hype model. I heard of this other story of this woman who put her whole IRA into this plan that ended up being a scam.
• 29:48
  So she put $500,000 into gold, gold doubled, and then went to sell her gold thinking she was gonna get double her money back. And she got the exact same amount of money back because she went with some company that apparently just literally charged her double to help her buy gold. So make sure, you know, you do your own research when you're purchasing anything. And you have AI and just Google searches and like review. You can type in a company and say, is this a scam?
• 30:16
  And typically, if it is, you'll find a whole Reddit forum or or reviews or Trustpilot. There's there's a lot of different ways. Sometimes people are just angry about a product and they're saying nasty things. Other times is a good reason to just be like, well, maybe I should pause.
• 30:30
  Roland: And you're talking about buying the physical asset, the physical metal that you would store at a safe in your house or something. You're not talking about buying paper or... Paper silver or paper gold.
• 30:38
  Michael Scalar: Well, and I'm... You know, a lot of people are adverse to buying paper, like, stock silver. There's nothing wrong with that in my opinion. A lot of the YouTubers are actually trying to push you to buy the physical from all these companies they're making commission from. I I wouldn't say that it's an end all if you just...
• 30:56
  Because there's some security in it. Mhmm. Let me take a look at what... I actually have a list of...
• 31:03
  Roland: I think if you're gonna buy paper, silver, or gold, you have to do your due diligence to understand certain things in terms of wanting to know when to hold it, when sell it because it's designed to be more of a transactional thing. Whereas if you're buying physical, that's something that you're using as a storage of wealth typically over the long term. Like, most people are not gonna buy silver coins to hold them for three months and then go sell those silver coins. Most stackers are betting on the long term that the prices that we'll talk about later in the episode, once you hit those, you've three, four, five extra money, and then you can sell it for a much more handsome price and then do an asset transfer of sorts, put a down payment on the house, buy some land. So there's a different strategy.
• 31:43
  Think knowing what your goal is, are you looking to make some money quickly, or are you looking to hold for the long term and kind of forget about it and just keep adding to your stack as people say?
• 31:53
  Michael Scalar: Well, I mean, there... There's... People think that if the silver or silver or gold markets collapse, the the the paper ones, like the stock market ones might not exist. I've I've just pulled up PSLV. It's a physical silver trust.
• 32:05
  So they actually hold the metal. So every every ounce that you buy or whatever share that you buy actually equates to something. So I I mean, there are probably some ways. I I mean, are all of them amazing? Who knows?
• 32:17
  But you can go to miners as well. Mhmm. The miners will actually... You you know, if silver goes up and you're holding the shares, it might actually be more profitable than owning an ounce.
• 32:27
  Roland: Yeah. Miners have had a huge run of late because miners are typically gonna shine inversely with the traditional stock market because, again, stocks are going down. Precious metals are typically going up. That's usually a correlation pattern. So if you wanna invest in stocks, silver miners are typically typically gonna have the day in the sun when the traditional stock market is looking on shaky ground.
• 32:48
  Michael Scalar: Yeah. But, I mean... So I I wouldn't say people shouldn't buy stocks in silver because there's there's pluses and minuses. Mhmm. If you're storing a $100,000 worth of silver in your house and you get robbed.
• 32:58
  Roland: That's a problem.
• 32:59
  Michael Scalar: That's a problem. You can't go... I mean, so I guess there's a... Depending on who you're talking to, there's a a worry one way or another. You know, if there's a fire, is the silver gonna survive?
• 33:09
  I mean,
• 33:10
  Roland: it it might... You might have to
• 33:11
  Michael Scalar: go to a refinery and then melt it down because it melted all together. It's a risk reward. You guys do your own research, have your own opinion. I don't have an opinion on it. I personally own physical silver and I own some PSLV, which I found to be a good one.
• 33:26
  Another good silver stock that I've been looking at, I have not entered, I do not own any of this at this time, is Pan America Silver Corp. P a... PAAS. They actually pay a dividend. It's a small dividend.
• 33:39
  Mhmm. But if you plan on stacking over time, getting a little bit of cash out of, you know, purchasing something in silver is always always a plus. It might not move as hard, but it's just like a safe bet.
• 33:50
  Roland: That's another one. I... I've heard the good ones to hold if you just wanna buy and not think about it are Penn and Berken Silver, Wheaton Precious, Agnico Eagle, and there's one with an f, Fortuna or... I forgot the other
• 34:03
  Michael Scalar: one. FSM?
• 34:03
  Roland: I actually have a list.
• 34:04
  Michael Scalar: Fortuna Money. Or that's it. FSM. Yep. I wouldn't buy that one looking at this because it looks like it just went out of terror.
• 34:10
  Roland: Yeah. They've all gone up, so they might be a little overvalued at the moment, but I think they're gonna come down. Again, this is where stuff that you have to start taking into account because there is a volatility to these things. There is a better time to buy. There is a worse time to buy.
• 34:22
  The miners have just started having a run.
• 34:24
  Michael Scalar: About that because people tend to only buy when everyone's yelling, oh my god. It's going
• 34:28
  Roland: me up. Yeah.
• 34:29
  Michael Scalar: I like to buy things when everyone is screaming, holy crap, it's melting. When there's blood in the streets.
• 34:36
  Roland: That's the opportunity.
• 34:37
  Michael Scalar: That's that's when you buy. There's nothing wrong with sticking your money in an APY account and waiting for something to crash. And APY accounts are amazing at this very current time because the interest rates are so high, which is scary, but at least you're kind of fighting inflation. A lot of banks have moneymaker accounts. Wealthfront is a easy non brick and mortar thing.
• 34:57
  They're paying nearly almost 4%. Think it's under 4%, like 3.7. So if you stick money in there, you're gonna earn some APY. So I just yelled at someone. They have, like, a million dollars sitting in a normal bank account earning no interest for like the last year on like...
• 35:10
  Roland: A million dollars sitting in in the savings account.
• 35:13
  Michael Scalar: What is wrong with you? It only takes like an hour to set up an APY account at best. And I I did the math and I was like, you could've been making like $2 a month or something, like easily. If interest rates are high, use the APY account. And that brings me to another point of when interest rates are high, a lot of people aren't gonna be buying silver and gold because they're gonna be taking that easy, no questions asked percent to my bank account.
• 35:37
  What happens when interest rates go down? People tend to invest in things that are gonna have a reward. So this is a cycle of investing as well. So silver is up trending. Let's say interest rates drop and we'll we'll switch to the gold chart here.
• 35:55
  Gold has been... Let's see how much it's up right now in... Since
• 36:00
  Roland: just in August. About $700 in August.
• 36:04
  Michael Scalar: It's up below. 15.7%. You know, it it hit a bottom. And again, you're looking at this, like, double bottom pattern here, which was a good... It just kind of bounced around the same little area without going any further down and then went up.
• 36:22
  This this is a solid pattern of we're in a reversal from its crash because it went all the way down. It went from
• 36:29
  Roland: They call that a strong bullish signal. Yeah. It's a
• 36:32
  Michael Scalar: bullish signal. This means that you wanna buy one. It creates a pattern like this, the kind of circling. This is typically an indicator it's not going any lower. And it didn't.
• 36:41
  It popped up. This was your your buy signal. It's like no no... Okay. No one wants to sell their their gold for anything less and then people started buying it.
• 36:48
  It indicates price is gonna go up. And I would advise anyone to... Who's gonna invest any amount of money. I mean, even if it's a thousand dollars, download or actually not download, just create an account at tradingview.com. It's a free account.
• 37:02
  You can open either premium ones that you can buy to have more signals and be able to save things and whatever, but learn how to use TradingView. It took me years, but... And I mostly just learned from watching other traders on YouTube. Mhmm. You know, there's a lot of things like trend lines and you'll see these these horizontal lines I have on here.
• 37:19
  These are Fibonacci's. And it's fun to watch these Fibonacci's because it's... You're using mathematics to kinda gauge things. It sounds crazy at first, but when you draw a good Fibonacci line and you look at where things go after you've drawn that line, it typically land... You see how this gray line here where it landed as a support that this Fibonacci was actually drawn over here.
• 37:39
  So it actually landed right back on that Fibonacci line, crushed through this one as a resistance, and now it's turning up to this one as the next resistance. It's simple little tools like Fibonacci's and support lines. Some of the supports go further back, so you actually see where this bottomed was around an old support. They're not precise all the time. They're kind of a a range, not a exact.
• 38:00
  Although sometimes they literally just land right on one of those supports and you're just like, why does it do that? Well, the reason it does that is because everyone who trades uses these same methods to trade and they're like, oh, well, this is gonna go here. So all the big boys go, oh, well, based off of the Fibonacci or the support, this is kind of our buy signal and it made this formation double bottom, triple bottom. Oh, we're gonna go up now. So learn and and there's also...
• 38:24
  You can buy... I forget what they're called. They're like paper accounts. You... They're free too.
• 38:30
  Like, you go to a trading company and and just look for how to how to trade without using your own money. You can actually get like a million dollar account that doesn't exist and you can trade and see if you go up and down. If you're constantly going down, you probably shouldn't be trading real money. Fair enough. If you figure if you figured out how to trade and you've you've made your fake account to go up in money, may...
• 38:50
  Maybe you're ready. A lot of people... It's different too when you're trading with monopoly money and real money
• 38:54
  Roland: Yeah.
• 38:54
  Michael Scalar: Because there's a lot of emotion involved. And people go, oh my god. It's going down. I need to sell. Oh my oh my god.
• 39:00
  It's going up. I need to buy. It's complete opposite.
• 39:02
  Roland: They're... Yeah. They're late to the party in that regard.
• 39:05
  Michael Scalar: Just remember, unless you're... If you're buying a blue chip, something that's real value, even if it goes down, it will probably go back up. And I'll... We'll take gold as an instance here. Let's go back to the charts.
• 39:16
  I'm gonna go to a a three month chart. Now what do you notice? This is going back to 1977 around where my my indicator is. What do you notice here? Gold has consistently gone what?
• 39:28
  Roland: I'm gonna go with up.
• 39:29
  Michael Scalar: Up. Dramatically. It's consistently just trended upward. It's gone flat from nineties... Let's see.
• 39:39
  Flat range was like 85 to the early two thousands. And since the early two thousands, it's it's done nothing but go up. I mean, the early two thousands in those... That date range of, like, $300 to 500
• 39:52
  Roland: the dot com bubble of two thousand roughly that sparked the next run up for gold. So there's there's usually a pattern where where there's a massive change in patterns economically speaking. Mhmm. It usually is an indicator to increase the value of gold.
• 40:08
  Michael Scalar: Yes. I mean... But my my point here is if there's something that's gonna continue... It has value and it's gonna go up Mhmm. It will probably always...
• 40:18
  Might take it one year, might take two years. Bitcoin's a great example of that. We'll switch to the Bitcoin chart.
• 40:23
  Roland: Well, let's round out precious metals just with your opinion here. Okay. So you've you've given us incredible crash course of understanding what you really need to know to to under... Understand this stuff inside and out. You're not a financial advisor, Michael, but for someone who's saying, you know what?
• 40:36
  I've been hearing about this gold and silver stuff. Should I get into it? What is your opinion? What is your advice to these people if they have a little bit of money sitting in cash and they wanna get into gold and silver? Is it the time to do it?
• 40:48
  Michael Scalar: I would definitely look for an entry. Mhmm. An entry is typically not one that's going all the way up. Right now, and it could be very different by the time this air... Airs.
• 41:01
  When you see a giant red candle on these charts and people are going, oh my god, it's crashing. It's going... It went down. Or the news is going, silver or gold went down 7% in the last X-ray. It's probably a good time to, like, take a look and be like, do I have cash that I'm not utilizing that I maybe I wanna put into something?
• 41:18
  Gold and silver, I think, are great things at the moment. Silver primarily because the industrial side and need for it. The the six year deficit is very bullish. The fact that it just went up to a $120 is insane. Mhmm.
• 41:32
  That shows there's a lot of interest in commodity, and it is a commodity. It's not it's not an AI stock that's gonna be volatile and go up and down, although it looked like one recently. In ten years from now, is silver still gonna be utilized? Well, we're moving towards a digital age where more AI infrastructure, all these things. The need for critical minerals is just gonna skyrocket.
• 41:54
  Mhmm. So I think silver is a great entry place for an investor, but again, do your own research. Make sure you understand what you're buying, how you're buying it, and how you're storing it. And I can't stress this enough. Don't tell anyone where your your money is.
• 42:09
  People are like, oh, look, look, I got these 10 silver ounces over here. You wanna see? And then they show them this drawer where the 10 silver ounces are and then someone, you know, those 10 silver ounces disappear. Wasn't me. I mean, I'm just saying it's it's...
• 42:23
  I've been to people's house and like, oh, you wanna see my silver? I'm like, why are you showing me your your stash?
• 42:29
  Roland: They're excited.
• 42:30
  Michael Scalar: I mean, they're excited, but it's like, if I I got a $100,000 sitting under my couch and I lift the cushion like, hey, look at this. It's like, do you wanna get robbed? Because that... That's how you get robbed. Mhmm.
• 42:39
  So don't brag about having your finances if you're storing them at home. This is kind of also the positive if it's... You know, storing it in a bank vault can be expensive. There are actually precious metal companies that will charge you a relatively small fee to store at their own vault where you can get scented at any time. It costs a little more money.
• 42:57
  If your ratio is I've got $10,000 to spend, you're probably fine spending it on stock or keeping some at home. If you're gonna buy over 30,000, then probably a good idea to invest in an off-site vault. A lot of the banks like Wells Fargo, they have... If your accounts are high enough, they'll give you a box for a reasonable amount of money. The...
• 43:22
  I forget the names of the silver and gold companies. There's actually some of them that will actually allow you to pick which location they store at. Some are in Singapore, somewhere in London. There's multiple throughout America like New York, I think Vegas as of all. But you know, you kinda wanna figure out, am I am I gonna have rest well at night or do I travel a lot keeping say $50 worth of silver in my house?
• 43:44
  Especially if silver doubles and that $50 is worth a $100, you don't wanna make yourself a target for getting robbed. So don't tell people about it, feel secure with how you're storing it, do some research on that.
• 43:55
  Roland: And silver is really bulky. Gold is a lot easier to hide because you can put a $100,000 in a gold and have something that fits in your pocket, like, theoretically. Yeah. So if you are... That's a great point.
• 44:05
  If you are storing something of of value that's large and bulky, either have a great hiding place, have a really good setup in terms of your home safe, or as you said, find a place that's off-site and secure and store it there.
• 44:17
  Michael Scalar: Yeah. I mean... And again, there's nothing wrong with buying stocks where True. Someone has to hack into your trading company and then transfer it somewhere and there's a giant money trail of fraud. So...
• 44:28
  But I am bullish on silver. I'm bullish on gold, but I think silver has a
• 44:32
  Roland: a higher upside. I think
• 44:34
  Michael Scalar: it has more upside. I'm... I don't really look at platinum as much. It's kinda... It doesn't really have as much industrial need.
• 44:42
  Gold will always be gold. People... You know, there's so many cultures that buy gold. In... Indian culture buys gold.
• 44:49
  Most of the Asian cultures actually buy gold. Like, Indians buy it as part of a ritualistic holiday every year.
• 44:54
  Roland: And and for weddings and various celebrations.
• 44:57
  Michael Scalar: Yep. So Middle East is kind of a similar thing. Thailand has a big gold call culture. Cambodia, Vietnam, like, it's like, if it's your birthday, family gives you, like, a piece of gold. It's something that's constantly being used as, like, a keep my family wealthy.
• 45:14
  Because it also is... Grandma doesn't give you a $100 if you go to store and spend money. Grandma gives you something that if there's You can't spend. If shit hits the fan Yep. You can go to the...
• 45:22
  To a shop and you can liquidate it. And then they know that because cultures have seen this over the years. I think that's why they do this is that they, you know, we've seen so many cycles and now we're gonna make it part part of our culture to be like, hey, you should hold some gold in case of a rainy day.
• 45:35
  Roland: Yep. It's a protection of wealth. And I think statistically, 1% of 1% in The US holds any physical gold or silver at their house.
• 45:44
  Michael Scalar: 1% of 1%.
• 45:45
  Roland: It's tiny, the quantity of people. And to be in the top 20% of gold and silver stackers in this country, if you have... I think it's something as low as not even a 100 ounces of silver. You are above the top 20% of people who actually hold physical assets. So the quantity of people in this country who actually physically hold metal is incredibly low.
• 46:10
  Most people have not even close to an ounce of gold who hold it as well.
• 46:13
  Michael Scalar: Wow. And it's funny, I was talking to my... One of the the guys at my Wells Fargo bank and I was just I was just pinging him. I was trying to see what he thought about a different... A bunch of different things because I'm trying to figure out where where to put money to Mhmm.
• 46:27
  Increase my wealth or whatever. And so was like, let's talk about stocks. And I was like, I'm I'm not really interested in stocks. And I... So I wanted to ping him on metal.
• 46:34
  And silver had just gone up to $1.20. I'm like, well, what do you think about silver? And he's like, oh, only doomsday preppers Yep. Buy buy gold and silver. And I'm like, do you realize it's up to one twenty recently.
• 46:46
  Right? And he's like, well, he just kinda went silent because that's their default mode is, no. We don't want you to buy gold and silver. We want you to buy stocks.
• 46:54
  Roland: All banks are highly averse to precious metals.
• 46:57
  Michael Scalar: Yeah. And crypto too. And I was like, what do you think of crypto? He's like, well, are you... And this is so funny.
• 47:02
  He's like, well, are you bullish on AI? I'm like, I think there's a lot of potential for AI. Well, you can't be bullish on AI and crypto. I'm like, what? Well,
• 47:10
  Roland: let's use that as a nice segue into crypto because you've really explored that world.
• 47:14
  Michael Scalar: Yeah. And I've been watching for a long time. And so we'll go back to the charts here. And so this is the start of Bitcoin and, you know, it was pretty much worthless. And I got a funny story about the first time I heard about Bitcoin.
• 47:24
  This guy was like, oh, you've got all these computer stuffs. You, you know, you could mine Bitcoin. This is like 2008, I wanna say, 2007. Mean...
• 47:31
  Roland: Is it that long ago?
• 47:32
  Michael Scalar: It it was like at the very start. Bitcoin was worth like $2 or $3. And I'm like, dude, you're crazy. He's like, oh, man. I bought some drugs off of the dark web.
• 47:40
  And I'm like, okay, you lost me. He's like, immediately lost me. And then over the years, like, I have I have... We go out to parties and people are like, oh, I got these pills off the dark web. I'm like, what are you talking about?
• 47:49
  I heard so many stories. And, you know, Bitcoin was sub a $100. So I'm probably closer to 5 or $10. And I'm like, well, how many Bitcoin was it? He's like, oh, this this one pillow x two is like 20 Bitcoin.
• 48:00
  And I'm like, fast forward, you know, Bitcoin's a thousand bucks, $5,000. I'm like, I wonder how many people who were buying drugs off the dark web in the Silk Road days were, like, you know, spending hundreds of Bitcoins on drugs. And it's like, can you imagine doing, let's say, like, a bag of cocaine would be... We'll just call it 20 Bitcoin. You know what?
• 48:21
  Bitcoin's at $78,000. Have you heard... That's the most expensive bag of cocaine in the world.
• 48:28
  Roland: Well, always say hindsight's $20.20. Have you heard about the guy in England who had hundreds of Bitcoin stored on an external drive that got thrown out?
• 48:38
  Michael Scalar: Multiple people have this issue.
• 48:39
  Roland: But this guy has been pillaging through landfills in England. He's been getting
• 48:44
  Michael Scalar: court orders. There was a couple guys that did that. One of them recently actually found it somehow. Okay.
• 48:49
  Roland: This guy, he's given up. He's given up. He's had these drones with X-ray vision come in and scan. It's gone. But imagine having to live with that.
• 48:57
  He had, I think, was 684 Bitcoin.
• 48:59
  Michael Scalar: He just couldn't let it go. He's like, I'm gonna dig out everything.
• 49:02
  Roland: Would you let it go?
• 49:03
  Michael Scalar: I I I don't know, man.
• 49:05
  Roland: I... Yeah. I mean, after a decade, you'd probably have to let it go, but you have to live for the rest of your life going, I had 684 Bitcoin. That'd be a hard pill to swallow.
• 49:15
  Michael Scalar: A pill that he didn't
• 49:16
  Roland: spend it on drugs. I don't know.
• 49:18
  Michael Scalar: Well, I guess if... Yeah. Never mind. I'll... I won't say anything.
• 49:22
  But we're we're looking at Bitcoin again. And what has this done? It's it's extremely volatile, but on a three month time frame, each of these candles represent three much. It has consistently gone up. Now I wanna warn people, crypto is extremely volatile and not for the faint of heart.
• 49:36
  And a lot of people buy when everyone's yelling, oh my god, it's going up. It's going up. And then they sell when it crashes thinking that they lost all their money. Now I wanna say this, I had some Bitcoin and I actually lost in a hack, but I never sold any. I lost 5 Bitcoin in a hack, which is act...
• 49:56
  Actually That sucks. Pretty significant. But I'm I'm... I wanna say this. I've talked to a lot of people and I've still never sold any Bitcoin.
• 50:05
  I own I own a little bit. I've talked to a lot of people that buy Bitcoin and they're like, oh, I lost money. I'm like, why'd you sell your Bitcoin? Like, oh, well, it crashed. I'm like, you know, it goes back up.
• 50:15
  Right? So it's like... And there... And especially the first run up to, like, 20 k, everyone was like, oh my god, Bitcoin. And then it dropped down to, I don't know, like, 5 k or something, and everyone just kinda...
• 50:27
  When was that? It was '19... Yeah. It was, like, 1920. Yeah.
• 50:34
  2000... I think it was 2019. Anyway, it was around this period of time and so people were hyping in buying $20,000 Bitcoin and then it drops... It crashed. You know, bit...
• 50:46
  Bitcoin is guaranteed to do two things. Will go up and go down? It will go up and go down. And everyone's like, oh, I sold my Bitcoin for, you know, half half of what I bought from, like, why? And I was like, well, it crashed.
• 50:56
  I didn't wanna lose any more money. I'm like, you literally sold the bottom, and then it went up. And then it went up. And then went down. And then it went up.
• 51:04
  So if you would have bought Bitcoin at, say, a... $10,000 and you weren't letting your emotions get the best of you and you would have just held it, you could have sold at 70,000. You could've sold it a 120,000, or you could sell it today for 70... Roughly 79 k. The moral of the story here is if you've got an asset that trends up, you can just hold it.
• 51:34
  And the... Oh my god. And this brings up so many memories of conversations I've had with people. Do not trade crypto. Don't day trade crypto.
• 51:43
  Like, if if you're a really good trader, sure. I've got all these friends that are like, oh, yeah. I'm gonna day trade crypto and I'm... That way I'll have more crypto at the end of time. They almost always lose more than they make.
• 51:53
  Roland: And they get out of it entirely.
• 51:54
  Michael Scalar: And then they get out of it entirely. I've had a number of friends. I'm like, don't do it. Just buy some. Hold it.
• 51:59
  And they're like, oh, I'm day trading. I'm like, oh, I I made a thousand dollars today. I'm like, okay. Cool. And then he's like, oh, have you seen this coin?
• 52:04
  I just lumped into it. I'm like, get out of that. Get out. He's like, no. No.
• 52:07
  No. And loses half his money. I'm like...
• 52:09
  Roland: Well, crypto is a tough one just because unlike gold and silver, which have utility, like, gold is always just international money. It's a store of wealth. Silver is kind of that, but silver also has a ton of industrial uses. A lot of cryptocurrencies have a technological adaptation, but a lot of them do not. They're just publicity, and they're popular based upon people pop...
• 52:31
  Popularizing them. But certain cryptos do have some utility. Which ones do you think are kind of in that useful slash asset class?
• 52:39
  Michael Scalar: To the general populace, if you're gonna buy crypto, I would say just buy Bitcoin.
• 52:43
  Roland: Only Bitcoin.
• 52:44
  Michael Scalar: I mean, Ethereum would be number two. Solana. I would stay away from XRP, although that... That's a little more of a YOLO high risk, high reward. It's highly hyped.
• 52:53
  Roland: It is. And it has theoretical... Very, very theoretical valuable utility, but it would have to dismantle the entire modern SWIFY banking system for it to have a chance at actually being ushered in as something that's useful.
• 53:07
  Michael Scalar: Well, and it was kinda described as coin too. It might not actually have any utility to the technology. Ripple Labs, the the... That company is developing international cross payment plan. Like, I mean, they're...
• 53:19
  But there's like 20 other companies doing that.
• 53:21
  Roland: Yeah. They're they're just kind of like leading the charge at the moment.
• 53:24
  Michael Scalar: But XRP got pumped super hard. They they had a great marketing campaign and a big, you know, following. I mean, we'll pull it up. It's just kind of a depressing chart.
• 53:33
  Roland: That's one I've been holding for a while. There... And there's been so much temptation along the way, but I got in when it was so cheap that I can just hold on to it. No. If you bought the
• 53:43
  Michael Scalar: cent range and you've been holding it, you're gonna... You're up. But there were a lot of people... It went all the way up to...
• 53:49
  Roland: I think it was $3.40.
• 53:50
  Michael Scalar: Exactly. Yep. Pretty much exactly that. And then it... It's it crashed all the way down to a buck.
• 53:56
  Yep. So there are a lot
• 53:57
  Roland: of trades you see this
• 53:58
  Michael Scalar: green card.... Looking at the chart. There's people hyping in. Oh my god. Oh my god.
• 54:01
  It's gonna go to $10. I don't think I don't think it's gonna ever go to $10. I've heard people say thousand dollars.
• 54:06
  Roland: I'm hoping for 5.
• 54:08
  Michael Scalar: I I think 5 on on a knock... The next bull run could possibly occur. But this is this is exact chart that you kinda wanna avoid because this is not just continuously trended up. This has had a couple peaks and crashed significantly and lost a lot of interest. Let's look at Ethereum, which would be another, you know, blue chip crypto.
• 54:31
  It's a choppy chart to look on a three month. You know, it's had a lot of peaks, a lot of... It's highly volatile. You know, and this is what I mean when you're looking at charts over time and if you're you're buying something that's only been around for less than a year, high risk, high reward, but more risk. So it's great to look at these things that have been around.
• 54:51
  Let's see. This is charting since 2016. So it has charted... Trended up in theory, but, I mean, the uptrend is not that solid. And I actually am bullish on Ethereum.
• 55:02
  I don't really own a lot of Ethereum. I think I own a couple. I just... I generally tell people if you're gonna trade something, like, let's look look at Solana, which is another big hype. Again, you've got something that is trending up, but it's it's volatile.
• 55:17
  You've got these giant dips. I mean, it... Let's look at this. It's, you know, $250 down to $50. That's that's the...
• 55:28
  And, I mean, it started off as $9 and went up to $210, and then it came down one... I mean, lost half its value multiple time. It's gone up a 100% and down a 100% multiple times.
• 55:41
  Roland: Well, it's down five x from its peak.
• 55:43
  Michael Scalar: Yeah. I mean, it's it's it's a rough chart to look at and be like, this is a safe bet to hold long term. Now if it's crashed and, you know, you got a little extra cash to put around, My recommendation to people is if you're gonna find something that's in a a blood market and you're gonna catch a falling knife, so to speak, and say, oh, well, it's crashed so much. I would I would set a target of 10, 20% Mhmm. And sell it.
• 56:07
  Once you've made that money, just get out. Unless you really think it's gonna long term be around.
• 56:12
  Roland: And that's what I think is is challenging about crypto because the volatility has also driven off a lot of market expectations and announcements about what the government and and the Federal Reserve is doing. And they move super quickly, and then there's a little bit of a hype, and then the reality hits of, oh, well, not much is gonna change right now. It may change in the long term, then everyone's excitement dwindles, and everything starts crashing down again. So crypto is, as you said, best, it is not for the faint of heart. It's probably something to trade into after you've established some really good bases in other assets that are things that you are comfortable holding long term while you've also mastered understanding what your personal portfolio looks like and figuring out how much risk or aversion to risk you have to allot some money into cryptocurrencies.
• 56:59
  Because there's a ton of crypto bros out there that are hoping for the collapse of the modern banking system and the dedollarization of the world, and we're gonna move to transparent transactions and these digital assets and tokens. It's a nice story.
• 57:12
  Michael Scalar: Well, I mean, we are not there.... Towards digital money. But we're not there yet.... Not... I mean, Bitcoin plays a part in that possibly.
• 57:18
  I mean, you have USDT, USDC, part of the Clarity Act that Trump and all these guys are... Have been talking about lately. And let's talk about that a little bit. Move away from investing. We'll wrap up with, I think silver and gold are always a safe bet to hold from long...
• 57:36
  For a long term, you know, oh, shit moment.
• 57:39
  Roland: And and you can get in with a couple ounces. Like, buy a few coins and just find a hiding place. But the longer you wait, the the greater likelihood that you're gonna miss the boat, and you will look back retrospectively and go, shouldn't have waited.
• 57:53
  Michael Scalar: Yeah. And for those who aren't in crypto, don't buy any other coins than Bitcoin. I've had a lot of people say, oh, they said this was gonna be like buying Bitcoin when it first started. That's a red flag, like the biggest red flag ever.
• 58:04
  Roland: Anytime a sentence starts with they say, it's probably not a reality.
• 58:08
  Michael Scalar: There's so many crypto scams out there. If you're gonna get into crypto, buy Bitcoin only is my my... What I would tell anyone that I talk to these days.
• 58:16
  Roland: I'm not even putting four. I I mean, I bought one thing when it was cheap. I've held it. I'm gonna continue to hold it. And if it goes to a certain number...
• 58:23
  Here's an important thing. When you're happy with the return, not what can it theoretically go to. When you're happy with the amount of money that you've made, it's a really good idea to walk away and take that money and put it into something that's less volatile.
• 58:36
  Michael Scalar: Yeah. I mean, you should set a target. It's really good. Especially with crypto, it's easy to buy buy and sell it. Again, something goes up 10, 20% and you're happy with that, take your money, reinvest it somewhere else.
• 58:49
  Mhmm. Unfortunately, I don't think real estate's the best investment these days in the market. Not at this current time. Where I see the safest places to put money are really gold and silver. Mhmm.
• 59:01
  I think Bitcoin at current levels is safe ish once it goes up a little further. So if... By the time you're watching this, this is at 90 or a 100 k. I I have trouble telling people that it's a great place to buy. If you didn't get into crypto a long time ago and you're just holding it for the, you know, the run and hoping it'll go up over the next ten years, which I believe it'll do.
• 59:22
  It's really... The risk reward is kinda wild. So I don't really recommend people buy crypto, but a lot of people are really interested. So I wanted to bring it up. I'm...
• 59:30
  I've always been fascinated with Bitcoin. I've been holding a little since, you know, for a long time despite the hack. And everyone's like, what did you sell your Bitcoin? I'm like, no. I'm just I'm just curious where it's gonna go over the next ten years.
• 59:44
  But we're moving into this world of stablecoins, and so it's a digital dollar. And I think that it's fascinating to bring up because people are... We'll we'll we'll basically move toward... Towards a cashless society. Mhmm.
• 59:56
  And that'll actually help inflation, but it'll be bad in a lot of ways because the government's gonna be able to see every dollar you spend, which is why they're actually talking about these privacy coins like Zcash and Dash, which I think they'll outlaw. I'm not sure, but it seems like that's the thing. But they wanna see where you're spending your money. They wanna track every dollar you're spending. Digital dollars will be that thing.
• 1:00:15
  And we're already kind of there. Like, PayPal was the first digital dollar. Now most cryptos trade in USDC, which is Circle or USDT is Tether, these companies. And they... They're fascinating to to look at because it's like a lot of them...
• 1:00:28
  The way that they make their money is off the treasury yield. So if the treasury yield is lower, they they don't really make as much money. It's really strange looking at their stock. But if you are, say, Wells Fargo, and now your US dollars are gone and you're forced to trade in cryptocurrency essentially, digital dollars, fully trackable. And let's say they remove...
• 1:00:48
  Start removing bills, start removing the $100 bill, which should probably be first. Maybe remove the $50 bill because other countries have done this. Mhmm. They're go to India. It's it's hard to use cash.
• 1:00:59
  I mean, it's easy, but it's hard to use big cash Mhmm. Because they want it all to be taxed. They want it all to know where it goes. They... KYC.
• 1:01:06
  Roland: Big... Yeah.
• 1:01:08
  Michael Scalar: And And they're moving towards that in other countries as well. I don't think it's gonna happen imminently, but you see it throughout the world where they're testing it. And what happened... It's really funny. And I really think this will be good for inflation, so to speak, because how many $100 US bills are floating out there that America has printed and sent abroad?
• 1:01:27
  Our US government does it in The Middle East. Drug dealers do it throughout Colombia. People here in America, anyone who just likes to stack cash or makes money illicitly and that doesn't want it being taxed, what happens when, let's just say tomorrow, they say $100 bills are obsolete. They will no longer be spendable in one month. Everyone rushes to the bank and people...
• 1:01:50
  The IRS goes, well, where did you get this money? And if you can't show that you pulled it out of the bank account legitimately, they're gonna hit you with tax. Mhmm. And probably
• 1:01:58
  Roland: Penalty.
• 1:01:58
  Michael Scalar: Fees. Yep. So you're gonna have some, like, a drug dealer who's got $10,000,000 in cash sitting in barrels, like, Colombia.
• 1:02:07
  Roland: When Pablo Escobar had rap giving his money, he had so much of it stashed.
• 1:02:11
  Michael Scalar: Yeah. Yeah. That's what I was picturing. They they have no choice. They have nothing they can do.
• 1:02:14
  That money just becomes worthless. Mhmm. Overnight or in one month worthless. That removes once that one month window hits where a $100 bills are no longer spendable, the money doesn't exist. You can't take it in the bank three months later or a year later and say, well, I got a $100 bills.
• 1:02:31
  Made those obsolete. You to get into our our USDT or USDC. So it's actually a clever way to fix The US debt. And I hate to say it like this because it's kind of evil. It's very Orwellian, but it would it would work.
• 1:02:46
  Roland: Yeah. It would help them fix their balance sheet.
• 1:02:48
  Michael Scalar: But you know how many people in in... Around the world, like, stack US dollars as a reserve currency, like Middle East. You go to Asia, there's probably people that... Because they're they're... So you go to Indonesia, you know, a $100 is like a stack of bills this much, but, you know, one one paper can roll up to, you know, millions of their Mhmm.
• 1:03:05
  Indonesian rupiah. There's probably a ton of people out there that are literally stacking US dollars that would get wrecked if that occurred by the EU... Who benefits? The US government. Yeah.
• 1:03:15
  Roland: And that's kind of what they're hoping because right now they're in a position that no one wants to buy The US debt. This country's $40,000,000,000,000 in debt, and other countries don't wanna hold it. So one way of kicking the can down the road to play the game a little bit longer of of essentially the license to print money is they can open up these digital assets that people can buy as a form of essentially hedging their bets. They have something that is an asset in another country and rather than selling their debt to countries, they can start selling their debt to individual consumers around the world because the US dollar still has its reserve currency asset status. So you're right.
• 1:03:53
  It is a way of allowing them to bring more money into the system so they can balance their budget, but the US government doesn't seem to have, an ability to actually make any headway in terms of rectifying that. So it'll just be playing this game a little bit longer and kicking the same can down the road till we get to 45,000,000,000,000, 50,000,000,000,000, what have you. But, hey, they're... At least they're creative.
• 1:04:14
  Michael Scalar: Well, you know, it's funny. I I was, like, curious, so I just typed this in while you were chatting of how much debt we've erased. It's actually not that much considering how how... From 40... What is it?
• 1:04:23
  There's $18,900,000,000,100 dollar bills in... Oh, no. That's actually high. I thought it was 18,900,000,000 in US amount. It's $18,900,000,000,100 dollar bills in circulation.
• 1:04:38
  18,900,000,000.
• 1:04:40
  Roland: That's nothing. That's a drop. That's a glass of water in a swimming pool.
• 1:04:43
  Michael Scalar: Not the dollar amount. It's $18,900,000,000,100
• 1:04:47
  Roland: bills? Yes. Oh, that's a big number.
• 1:04:49
  Michael Scalar: And held overseas? Guess how much is held overseas?
• 1:04:53
  Roland: The vast majority of it.
• 1:04:55
  Michael Scalar: Okay. So let's let's recap. There's $18,900,000,000,100 dollar US notes in the world. There's 60 to 80% of those bills are stored or used outside The United States. That's more than half.
• 1:05:09
  Wow. Now let's find out.
• 1:05:13
  Roland: Total value... What happens if you may... I'm I'm trying to multiply 18.9
• 1:05:17
  Michael Scalar: I am too.
• 1:05:18
  Roland: Billion times a 100 in my head. I can't... My my brain can't deal with that many zeros. Is it 1,800,000,000,000?
• 1:05:24
  Michael Scalar: I think it might be higher. Approximately 1,990,000,000,000. So if they they did wipe it out, probably half of that would never come. They'd literally knock off one fortieth of our debt, which is
• 1:05:35
  Roland: Well, the cost every year to service the debt is now $1,700,000,000,000 of interest paid on debt, which is greater than that of military and healthcare spending. And they have to refinance a bunch of debt that's about to mature in the next couple years. So that's why the government is making some just, shall we say, drastic moves right now because their backs are up against the wall at this current moment in time.
• 1:05:58
  Michael Scalar: Well, let's look at why the government actually doesn't care about inflation too. It's kinda dark and it's really terrible. So the government really doesn't care about inflation because they've borrowed money when money was worth more. Now if it's hyperinflated to say a 100% inflation. Mhmm.
• 1:06:14
  So it's worth half as as less. Now they have... They owe someone, say, we'll say at 500. We'll call... We'll we'll say they owe someone 2,000,000,000,000, but it's old 2,000,000,000,000.
• 1:06:23
  Yeah. And so they gotta pay back 2,000,000,000,000, but it's not... It's worth half. So they're paying back 1,000,000,000,000.
• 1:06:29
  Roland: Yes. Yeah. The number doesn't correlate with the actual amount they have to pay back.
• 1:06:34
  Michael Scalar: But there is the... The value of... There is the interest part, which kinda wrecks them, but it's the weird, you know, gotcha on on finances. Like, well, we we bought this money a while ago. Yeah, I mean, if they put it into gold, like, hard money, and then they do inflation, and then they revalue the gold, which may occur.
• 1:06:49
  Roland: That's a thing. And they force people to turn gold in before. Because on the balance sheet, the US government values gold at $46 an ounce. So if they just reevaluate
• 1:06:58
  Michael Scalar: gold buy some of their gold.
• 1:07:00
  Roland: I would love to sign me up. But if they just did that, they essentially create a bunch of, I don't wanna call it free money, but they create money overnight by simply changing a technicality on their books, by taking the total amount of US gold that they hold Yeah. And changing the value from $46 to $4,600 an ounce on 800 and something... 832 tons or whatever the Allegedly. Allegedly.
• 1:07:25
  That's my favorite.
• 1:07:27
  Michael Scalar: Got the selfie of Elon at fault.
• 1:07:28
  Roland: My favorite YouTube word, allegedly. Yeah. Allegedly, that 800 plus tons would generate, what is it, like a a few trillion dollars of money on their balance sheet on the asset side overnight. Mhmm. So that would offset their lack of lendability due to the fact that they were asset poor.
• 1:07:46
  It's a game that they can play. But I... You know, the the thing that I heard that I'm kinda following myself, watch what the big banks around the world do.
• 1:07:54
  Michael Scalar: They're all buying gold and silver.
• 1:07:56
  Roland: If you do what they do, you're probably gonna be okay. Yeah. At least in the here and now, I don't know what life looks like six months, twelve months, two years from now, but I'm very much invested in this idea that money and wealth are not the same thing. I want to protect the money that I earn by putting it into things that are gonna be a store of wealth that will appreciate in value. We've come through the age of various technologies that have been able to change society we live in, but they themselves have no inherent value as an asset to own.
• 1:08:27
  Because a lot of these companies right now, the famous seven stocks, they're bleeding money. They're creating things that people are using, but they are not profitable and they're passing money around.
• 1:08:37
  Michael Scalar: No. I'm super I'm super concerned about the stock market. I know a lot of people put money in their four zero one k's and whatnot, and they just trust that it's gonna go up. And if you hold something over a long enough period of time with those, like, you know, the ETFs Yeah. It's probably relatively safe.
• 1:08:51
  But it's pretty brutal for someone who's approaching retirement age to go through one of these giant dips that you see occur sometimes of 30, 40%.
• 1:08:59
  Roland: And those are the people that get wiped out. It's not the big banksters. It's not the people who are so wealthy that they're almost immune to these things. It's the people who have bet it all on black, so to speak, and they don't have enough understanding of we're shifting into an age where commodities and hard assets are actually gonna be the new gold. You know, gold in and of itself, yes, it's leaving the charge, but buying things like into coffee and fertilizer and grains and and things you can't create out of nowhere, that's where the smart money is going.
• 1:09:28
  If everyone wants to own tech stocks and things that are being marketed as a shiny new objects
• 1:09:33
  Michael Scalar: They're they're following the hype thinking it's gonna 100 x, and it typically doesn't. Most people lose. Like, you're gambling. But you're right. Investing in coffee and wheat and gold and silver as a stock.
• 1:09:42
  Diversifying. It's it's typically gonna go up. Obviously, you can't store your wheat and your coffee for the next ten years and have it still be relatively usable.
• 1:09:50
  Roland: But a company that's still working. Yes. You can do that. But, you know, I watched a video yesterday showing what Donald Trump's activity is. He's selling Palantir.
• 1:09:59
  He's selling Meta, and he bought Visa, Mastercard, waste removal companies, and various things that are... Like, Visa and Mastercard are just a tollbooth, but they're always gonna be in business because you said we're going to a cashless society. And I actually said, don't I remember the last time I spent cash myself. Like, we're we're most of the way there. You walk into a restaurant, you tap your card.
• 1:10:23
  So those things might be other possible opportunities.
• 1:10:28
  Michael Scalar: With the Clarity Act. I mean, I guess the Clarity Act passes, they're gonna need an intermediary to use the system. So your USDT, all your Cashless Society would be on typically credit cards, or it would be through apps on your phone. It might be PayPal, Yes. Cash App, Google Pay.
• 1:10:46
  The The Philippines is interesting. They have they have G Pay. It's not Google. It's G Pay, but they're actually moving to a hard cashless society. This QR concept is popping up everywhere.
• 1:10:55
  I think it was El Salvador who's doing the Bitcoin thing, so they're actually paying... Like, their society is kind of running on Bitcoin. Was like a full on YOLO move by their government. They started buying a ton of Bitcoin a while ago, and it's worked out for them. And they continue to add to it, but their their reserve currency is now Bitcoin because their their current...
• 1:11:10
  Their national currency was wrecked. Trash.
• 1:11:12
  Roland: Yeah. That's something that happens with fiat currencies and cycles and time, and I think we're really starting to see the the notion of the dedollarization culture becoming more prevalent. And, I mean, anyone watching this, you know that when you go to the grocery store, you walk away with a bag of seven items. I'm like, how the hell did I spend a $120 on these things? Your money's not stretching very far, and you can make a lot of it.
• 1:11:36
  Typically, people who make a lot of money spend a lot of money. Yeah. Learning to take money and create and convert it into wealth is really what I hope people got from this episode because this was a little different for us, but I thought the idea of going into money and finance and and being somewhat of... And I say self sovereign. I don't mean one of these people who's denounced their citizenship and you live
• 1:11:58
  Michael Scalar: with They normally have the most gold and silver.
• 1:12:00
  Roland: They do.
• 1:12:00
  Michael Scalar: Well, they...
• 1:12:00
  Roland: They're they're the preppers. But at the end of the day, having an understanding of how to take the money you make and convert it into something that will protect your wealth and your family and and make you able to be prepared for if something does come in the form of a correction, you'll be happy that you spent some time learning about this and even happier if you took action and invested into it. We're not financial advisors. This is not financial advice that we're promoting and encouraging. We're just offering you some insights, some perspectives.
• 1:12:29
  Personal
• 1:12:30
  Michael Scalar: insights of how we're thinking right now because we're watching the
• 1:12:32
  Roland: economy where we're doing
• 1:12:33
  Michael Scalar: sketchy and gold and silver looking appealing. Crypto is is is a casino, really. It's casino.
• 1:12:41
  Roland: We're in Vegas. You can get that energy.
• 1:12:42
  Michael Scalar: People ask me, do you gamble? You go to casinos? I'm like, only casino I do is Bitcoin. Bitcoin. Yeah.
• 1:12:46
  It's literally the only thing I gamble.
• 1:12:48
  Roland: And you... And I've heard you say that many times before.
• 1:12:50
  Michael Scalar: Because I literally refuse to go to the Strip. Like, I'm not going there. I don't really gamble. And this this is my joke. It's like, yeah, have Bitcoin.
• 1:12:55
  That's my gamble.
• 1:12:56
  Roland: I'd rather actually, you know, know the experience I'm gonna spend my money on than try to chance winning a lot of it. Mhmm. So so, you know, gambling apps and various things are not a good career path if that's how you plan to get wealthy. Ugh. But putting your money into something that will always have an inherent value to society is a really good starting point and the time is always now.
• 1:13:17
  Michael Scalar: Yeah. And to wrap up, we we're gonna... One last thing. So I was talking to one of our friends and he was saying... And guys do not quote or think this is logically possible.
• 1:13:27
  I think it's a long shot. He's saying 20 to $30,000 gold.
• 1:13:31
  Roland: Oh, I've heard that. I've heard that. But what time frame?
• 1:13:36
  Michael Scalar: Like, he's saying over the course of the next year or two. I'm like
• 1:13:39
  Roland: I've heard 2032. I've heard by 2032, 20,000, $30,000 gold, 1 to $2,000 silver.
• 1:13:47
  Michael Scalar: So I'm curious, guys. Do you think... Drop drop us in the chat. Do you think gold and what period of time is gonna go to 20? We'll just call it a hard 20.
• 1:13:56
  Is gold going to 20? What does it mean silver is gonna be at? And what is the price of a cup of coffee going to be at that time? Holy crap.
• 1:14:04
  Roland: I mean, with what I paid this morning, it's already getting a little scary. So it's gonna be in the form of a piece of gold or a piece of silver.
• 1:14:11
  Michael Scalar: Oh my god. Here's one of my teeth. Coffee?
• 1:14:14
  Roland: I have two kidneys. Give one of them away.
• 1:14:17
  Michael Scalar: Oh, no. Alright, lazy job. Well, thank you for joining us. Like, comment, subscribe, share this with all your friends that might find this fascinating. We will see you next time.